Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
SingTel, or Singapore Telecommunications, said on Monday, Oct. 2, that it is selling its stake in the cyber security firm called Trustwave. The telecom firm revealed that it had reached an agreement with MC2 Titanium LLC for the stake sale worth $205 million.
SingTel is selling its stake in Trustwave far less than the amount it paid for when it acquired it in 2015 for $770 million. In any case, the decision to sell the asset comes after the company launched a strategic review of its 98% interest in the cyber security firm in 2021.
Divestment Strategy of SingTel
As per Reuters, the unloading of its stakes comes after Asia's leading communications company incurred an impairment charge or reduction in the estimated value of an asset amounting to S$336 million or about $245.92 million on Trustwave in the second half of 2021.
This latest divestment is expected to close by the last quarter of this year. The company said in a statement that this deal will not have a major impact on the group for fiscal 2024.
It was also noted that prior to this sale, SingTel also sold its stake in the Southeast Asia Data Center Unit. The firm transferred its stake to KKR, a US-based private equity fund, after signing a $807 million acquisition deal. The price is equivalent to the 20% stake it owned in the regional data center business.
SingTel to Use Sales Proceeds for Business Expansion
Forbes reported that the deal between SingTel and KKR places the enterprise value of the telecom's unit at S$5.5 billion. So far, this deal is said to be KKR's largest investment in Southeast Asia.
"The investment by KKR crystallizes the latent value of our data center assets and we hope this illuminates value for our shareholders in the coming months," SingTel's chief financial officer, Arthur Lang, said in a statement. "With more than S$6 billion being unlocked since we embarked on our strategic reset two years ago, we continue to focus on unlocking value for our shareholders."
Photo by: Singtel Website
