Regional Telecom Sector - UOB Kay Hian 2024-06-19: The Singapore-Malaysia Connection

Regional Telecom Sector - The Singapore-Malaysia Connection

SingTel (SGX:Z74) | SGinvestors.ioSingTel (SGX:Z74)
  • SingTel’s Nxera and Telekom Malaysia announced that they will jointly develop a 64MW data centre (DC) in Johor, operational in 2026. The data centre can be scaled up to 200MW, worth RM10b (S$2.9b) in equity value.
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Joint venture between Singtel & Telekom Malaysia to build a 64MW DC, scalable to 200MW.

  • Telekom Malaysia (TM) is partnering Nxera, the regional data centre arm of SingTel (SGX:Z74)’s Digital InfraCo unit, in a joint venture to develop data centres in Malaysia starting with an AI-ready DC campus in Johor.
  • - Read this at -
  • SingTel and Telekom Malaysia’s effective stake in the JV is 51% and 49% respectively.
  • The initial phase of the DC is planned for 64MW and can be scaled up to 200MW. The JV has committed up to RM1.1b in initial capital for the DC over a 5-year period (Telekom Malaysia: RM588m, SingTel: RM564m). The 64MW DC will be a 4-storey building and is expected to be operational in 2026.

Capex for a 200MW DC is estimated at RM7b; DC could be worth up to RM10b.

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Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @

Singapore Research Team UOB Kay Hian Research | 2024-06-19

Previous report by UOB:
2024-05-24 SingTel - FY24 In Line, New Dividend Policy & Strategic Plan To Unlock Value.

Price targets by 5 other brokers at SingTel Target Prices.

Listing of research reports at SingTel Analyst Reports.

Relevant links:
SingTel Share Price History,
SingTel Announcements,
SingTel Dividends & Corporate Actions,
SingTel News Articles


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