SG briefs: Singtel, AIS, Gulf Energy, ComfortDelGro, GS Holdings

Singtel retail outlet at Tiong Bahru PlazaSingtel retail outlet at Tiong Bahru Plaza; photo taken pre-Covid

Singapore company briefs: Singtel, AIS, Gulf Energy, ComfortDelGro, and GS Holdings. 


Singapore Telecommunications (Singtel) entered a joint development agreement with Gulf Energy and Advanced Info Services (AIS) to develop and operate data centers in Thailand as part of the Singapore telco’s strategy to develop a regional data center business.

Gulf Energy is Thailand’s largest private power producer; AIS, a leading Thai telco, is an associate of Singtel. Singtel holds 23.3 percent of AIS directly, and holds 21.1 percent of Intouch, which holds 40.5 percent of AIS, as of end-March 2021, according to Singtel’s annual report.

AIS “has a large local sales force with deep relationships with Thai enterprises, local data center operations know-how and will be able to provide connectivity solutions for the data center business,” Singtel said in a filing to SGX Thursday.

“AIS’ strengths complement Singtel’s expertise in developing and operating world class data centers and established relationships with multinational hyperscaler customers and Gulf Energy’s extensive local business network and access to land and power, including green energy,” Singtel said.

Read Singtel’s filing to SGX.


ComfortDelGro said Thursday it has completed two deals it entered in 2019: Selling Metroline’s property at Alperton Bus Garage in West London in the U.K., and buying Redington’s property at West London.

The consideration for the Alperton property sale of 25 million British pounds is around S$45.3 million, and the purchase consideration for the Redington property of 7 million pound is around S$12.7 million, ComfortDelGro said in a filing to SGX.

Read more: ComfortDelGro enters deal to sell one West London property and buy another

GS Holdings

GS Holdings said Friday it wasn’t aware of any information not previously announced which might explain Friday’s 34.5 percent tumble in its shares to S$0.131. 

In response to a query from SGX on the trading activity, GS Holdings noted it issued a profit warning in early January, and on 28 January, it had announced a non-binding memorandum of understanding on developing new franchises with a third party

“The group continues to pursue other potential expansion opportunities and thus from time to time may engage in discussions on any business opportunities that arises. However, no definitive agreements have been entered into and there is no assurance that any such discussions will result in a definitive agreement,” GS Holdings said.