Singtel raises stake in Thailand’s Intouch to 24.99%

The additional 121 million additional shares were acquired for $330m. 

Singtel’s stake in Thailand telco, Intouch Holdings, has jumped from 21.21% to 24.99%, following its acquisition of 121 million shares from Temasek’s Anderton Investments for S$330 million. 

Even before Singtel increased its stake, it was already one of Intouch’s two largest shareholders along with Gulf Energy.

"Our increased investment deepens our partnership with Intouch’s largest shareholder Gulf Energy, and is part of our strategy of actively recycling capital to invest for growth and shareholder returns,”  Singtel Group CEO Yuen Kuan Moon said. 

The Singtel CEO added that the move to increase its stake also demonstrates the company’s confidence in the potential of Advanced Info Services (AIS) “to build on its position as the mobile operator of choice and become the leader in digital and enterprise services.”

Advanced Info Services (AIS) is Thailand’s largest mobile operator and is a subsidiary of Intouch.

Meanwhile, Singtel said it is also collaborating with AIS and Gulf Energy to build and develop data centres in Thailand.

The transaction between the three companies is expected to be completed by the end of June 2022.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Is HDB resale a good investment?
OrangeTee’s Dallas Hassan and Huttons Asia Real Estate Groups’ Lee Sze Teck answer frequently-asked questions on HDB.
Spoof proof: How the new SMS Sender ID Registry prevents phishing
Phishing remains a huge problem in Singapore, with reported incidents jumping from 16 to 5,020 within four years.