Starhub acquires 60% stake in HKBN JOS Singapore and Malaysia

This will expand StarHub’s Regional ICT segment in both countries.

Starhub announced the acquisition of a 60% stake in Hong Kong Broadband Network (HKBN) JOS Singapore and Malaysia.

The move is set to expedite the execution of its DARE+ strategy, which will strengthen the company’s ICT capabilities, enterprise solution offerings, and customer footprint across Singapore and Malaysia. Harvesting of cost synergies in fixed operating costs and an improved supply chain between StarHub and JOS SG, as well as between Strateq, an earlier acquisition by Starhub, and JOS Malaysia.

Pro forma for these acquisitions for the nine-month period ended on 30 September 2021, with JOS Singapore and JOS Malaysia contributing $86m to Starhub’s enterprise business revenue, which would amount to $610m for the financial period.

The partnership between the two is also expected to boost revenue and profits through cross-selling and upselling of capabilities, connectivity and solution offering to corporate customers across Singapore, Malaysia, and Hong Kong.

“With JOS SG and JOS MY onboard to complement our prior acquisition of Strateq, our strategy is well underway. We also look forward to working closely with HKBN, to open up business opportunities for both companies in the provision of bundled connectivity and ICT services, delivering real value to our customers across our respective markets and creating significant business synergies,” said CEO Nikhil Eapen of Starhub.

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