Singtel Sells Thai Energy Stake

8% Gulf Development stake for about 1 billion Singapore dollars. The deal generated a 140 million Singapore-dollar gain. Proceeds supported a broader push into AI and data center investments. 9 million), as it seeks to raise cash for new investments.

The stake was sold directly to institutional investors and is expected to generate an equity gain of about 140 million Singapore dollars, Singtel said in a statement on Tuesday. 8 billion Singapore dollars. "This divestment underscores Singtel's concerted efforts to optimize our portfolio as we continue our disciplined approach to capital management," said Arthur Lang, Singtel's group chief financial officer. Lang said that Singtel's partnership with Gulf Development remains strong and that Thailand continues to be an important market for the company.

The divestment comes as Singtel increases investments in growth areas. 5 billion Singapore dollars a year earlier. 2 billion are really earmarked for growth into data center into AI, which is our GPU as a service for the region, and in particular providing sovereign AI services for Singapore," Singtel CEO Yuen Kuan Moon told CNBC's "Squawk Box Asia" in May. 30 Singapore dollars.