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Tag: M1

  • M1 taps UOB for QR code payment

    M1 taps UOB for QR code payment

    Singapore operator M1 has partnered with the nation’s United Overseas Bank (UOB) to offer PayNow as a payment mode for M1 customers.

    Under the agreement, M1 customers can now make mobile payments for purchases via PayNow at all M1 Shop outlets, as well as make monthly bill payments via PayNow by scanning the QR Code on the bill.

    M1 is the first communications provider in Singapore to enable retail customers to make e-payments via PayNow, providing customers with an additional payment option, in addition to existing payment modes. UOB is the key provider of PayNow Corporate services to M1, and will help enable the safe and hassle-free scan-and-pay experience for M1’s customers.

    To pay for in-store purchases, customers need to scan a dynamic QR Code that is generated at the counter using the mobile banking application of any PayNow participating banks with QR scanning functionality. Customers can also use PayNow to pay for their monthly bills by scanning the dynamic QR code on their bill statement. Customers can complete the payment by confirming the transaction details that have been automatically filled in, such as the payment amount and recipient.

    “Today, about eight in 10 consumers in Singapore have adopted e-payments and PayNow is a very convenient e-payment platform which will enhance our customers’ payment experience. This new initiative is one of many, as part of our digitalization journey to deliver a seamless digital experience for our customers,” M1 CMO  P. Subramaniam said.

  • Konnectivity to buy out remaining shares of M1

    Konnectivity to buy out remaining shares of M1

    Konnectivity, the joint venture buying out Singapore’s M1, has revealed plans to embark on a multi-year transformation of the operator to enhance its competitiveness in the market. The venture revealed it will compulsorily acquire the remaining shares in M1 after securing a 94.55% stake.

    Konnectivity, which is jointly owned by Keppel Corporation and Singapore Press Holdings, announced it will exercise its rights to acquire all remaining M1 shares at the offer price of S$2.06 ($1.52) per share, and then take the company private.

    After the compulsory acquisition, Konnectivity will own 80.69% in M1, while Keppel Corp subsidiary Keppel Telecommunications and Transportation will own the remainder.

    After the acquisition closes, Keppel Corporation and SPH plan to work with M1 on a transformation strategy focused on the three prongs of innovation, technology adoption, and digitalization to help Singapore’s smallest operator better compete with larger rivals Singtel and StarHub.

    “As a member of the Keppel Group, M1 looks forward to working closely with the Keppel Group and with SPH to accelerate the changes needed to deliver even more innovative and compelling products and services, to stay ahead of the competition,” M1 CEO Manjot Singh Mann said.

    “M1 shall endeavour to transform to be at the heart of convergence of various digital services and technologies that present day consumers and enterprises demand. Keppel and SPH bring with them their organisational strengths and stability, which will help us chart our growth plans aggressively, while seeking significant opportunities of synergy with them.”

  • M1 to be delisted after crossing buyout threshold

    M1 to be delisted after crossing buyout threshold

    Konnectivity Corp has succeeded in its takeover attempt for Singapore’s third largest operator M1 and will now take the company private. Konnectivity, the joint venture established by major M1 shareholders Keppel Corp and Singapore Press Holdings, has announced in a stock exchange filing that its share in M1 has now crossed the 90% threshold.

    With fewer than 10% of shares now owned by the public, M1 now no longer meets the threshold of listing on the Singapore stock exchange and will be delisted.

    Remaining shareholders will have until March 18 to accept the S$2.06 ($1.52) per share buyout offer if they do not want to own shares in a delisted company.

    Keppel and SPH first mounted their buyout offer for M1 in January, after announcing an intention to do so in December. Their joint venture Konnectivity gained majority control of M1 in mid-February.

  • Singapore telco M1’s suitors say they won’t raise offer price

    Singapore telco M1’s suitors say they won’t raise offer price

    Singapore conglomerate Keppel Corp and Singapore Press Holdings (SPH) said they will not raise their offer price to gain majority control of mobile operator M1 Ltd, a move that could put pressure on Axiata Group, M1’s single largest shareholder. Keppel and SPH, which together control 34.3% of Singapore’s smallest mobile operator, said in September they would offer S$2.06 (RM6.25) per share for majority ownership of M1 in a bid to support its falling share price and restructure the firm to better compete against sector rivals.

    “The offeror wishes to announce that it does not intend to increase the offer price of S$2.06 in cash per offer share under any circumstances whatsoever,” Keppel and SPH said in a regulatory announcement issued by their jointly-owned holding company. The closing date was extended to Feb 18 from Feb 4. M1 has a total market value of S$1.92 billion.

    Malaysia’s Axiata, which holds a 28.3% stake in M1, said in September the offer should reflect the accurate future value of M1, inclusive of an acceptable control premium and consistent with market standards.

    Axiata said at the time it was working with an adviser and was reviewing its options. As quoted, Axiata viewed the offer price as “inadequate”.

    In response to a query, Axiata said it would not comment on a statement. “Axiata will make any necessary announcements as required and in due time,” it said.

    Since the September announcement, M1’s shares have rallied 26% to trade at S$2.05 this week but are little changed over the past two years and have lost 49% from a record high of S$3.99 in early 2015.

    Mobile telecoms competition is heating up in Singapore, with Australia’s TPG Telecom planning to launch a new service after winning a licence to become the city-state’s fourth telecom operator. Analysts consider M1 to be the most vulnerable to new competition.

    In July 2017, Axiata, Keppel and SPH had considered, and then called off a strategic review of their M1 shareholding, which sources said was due to a lower-than-expected offer from external parties.

  • Singtel, StarHub and M1 must keep innovating to stay in the game

    Singtel, StarHub and M1 must keep innovating to stay in the game

    Signs have not been good lately for Singtel, StarHub and M1, the country’s three large telecommunications companies. Technological innovations, as well as changes in regulations, have sent shock waves through the big three companies, and virtual mobile telcos such as MyRepublic, Zero1 and Circles.Life have also posed a threat to the larger players.

    But with new kid on the block, TPG Telcom, set to launch later this year, the question remains whether there is still a place for one more large telecommunications company in an already crowded market.

    The existing telcos say that since the country is small and has a mature mobile market with very high rates of penetration, perhaps three’s a company, but four would be a crowd.

    In other places such as Germany, Denmark and the UK there is consolidation of only three mobile network operator (MNO) providers. Indonesia, whose population of 250 million is huge, compared to Singapore’s 5 million, is also leaning toward consolidation.

    Three years ago, the  Info-communications Development Authority of Singapore (IDA) asked whether expanding mobile services in the country is a viable option. Today, opinions still are divided as to whether or not there is room in Singapore for a fourth telco.

    One concern is that tougher competition will lead to fewer revenues in the mobile sector, which would in turn discourage service innovation, and even investments as well.

    On the opposite side is the IDA, which has evolved into the Infocomm Media Development Authority (IMDA), says that there is space for telcos to innovate their services, as well as room for more competition in the market.

    When a new MNO enters the market, this may also spur existing ones to further invest in innovating their networks in order to stay competitive.

    TPG Telecom, which is based in Australia, is already making quite a splash in Singapore, with a special offer for seniors, an audience not often catered to by telcos. TPG is giving a fee mobile plan for people aged 65 and above, complete with a SIM card, 3GB of data and unlimited mobile calls.

    Other telcos are greeting TPG’s launch as a splash of cold water on their faces, to get them to innovate their strategies. The telco industry is marked by both competition and innovation, and companies have to work hard to keep up. Their strategies must remain both quick and agile to remain enticing to existing customers as they attract others.

    For example, telcos have been threatened by over the top (OTT) voice, text and messaging options that only require WiFi for consumers to make calls and send messages. This has meant that telcos can no longer rely on old revenue streams that depended on subscription plans, infrastructure and bandwidth, as consumers ceased to need them as much.

    Big players in the tech market such as Apple, Amazon and Google offer such OTT services merely using data connections, which removes the need for additional infrastructure.

    Industry experts predict that WhatsApp, Skype and different OTT applications will cause telcos the loss of around US$400 billion in revenue for this year alone.

    How then can telcos, which have invested millions on infrastructure, secure their future despite fewer returns on those investments, or else, face the possibility of growing redundant in the industry.

    Perhaps the bigger question here is not whether there is room in the country for yet another mobile telecommunications company, but to ask whether the existing companies are doing enough to innovate in order to maintain relevance in a quickly evolving industry.

  • M1 reports flat profit for 1Q18

    M1 reports flat profit for 1Q18

    Singapore’s M1 has reported flat profit for the first quarter despite a 3% year-on-year increase in service revenue.

    The operator’s net profit stayed stable year-on-year at S$34.8 million ($26.5 million), but this represented an 8.3% increase compared to the previous quarter.

    Service revenue meanwhile grew 3% year-on-year to S$184.7 million, driven by higher fixed and postpaid mobile revenue. But overall operating revenue grew just 0.5% year-on-year and fell 15.8% sequentially to S$254.1 million.

    Fixed service revenue was up a strong 13.9% compared to the same quarter a year ago to S$31.9 million, with M1 adding 5,000 fiber customers to take its total base to 194,000.

    By contrast, mobile revenue increased just 2.6% over the same period, and total mobile subscribers decreased by 2.6% to 1.99 million.

    Mobile data grew to account for 61.3% of mobile service revenue, up from 54% a year ago, with average postpaid smartphone data usage reaching 4.5GB per month.

    Despite the lackluster results, M1 CEO Karen Kooi said the operator is in a position to pursue new growth opportunities looking ahead.

    “We will continue to strengthen our telco core with enhanced value propositions and customer experience,” she said.

    “With our scaled up ICT and digital capabilities, we are well placed to capture the growth opportunities in the Corporate and Government segment driven by corporate digital transformation and Smart Nation initiatives.”

  • M1 joins StarHub in electricity play

    M1 joins StarHub in electricity play

    Singapore’s M1 has joined StarHub in looking to carve out a share of Singapore’s new open electricity market.

    M1 has announced a collaboration with Keppel Electric, a participating electricity retailer in Singapore’s Jurong open electricity market (OEM) soft launch, to offer electricity bundled with telecoms services.

    New and re-contracting mobile customers are being offered the ability to sign up for discount electricity plans at the M1 Shop In Jurong, as well as either S$80 off the price of the Samsung Galaxy S9 and S9+ or six months worth of extra data allocations.

    “We are delighted to partner Keppel Electric to offer our customers greater value and flexibility in the liberalized energy market,” M1 chief marketing officer P. Subramaniam said.

    “We look forward to working closely with Keppel Electric to provide new service development and product bundling for its provision of its electricity offerings in this town and nationwide in time to come.”

    Earlier this month StarHub announced a joint initiative with renewable energy startup Sunseap to enter Singapore’s open electricity market to offer joint electricity plans, collaborating on areas including sales, customer service and billing.

    Singapore plans to liberalize the nation’s electricity market to allow customers to seamlessly switch electricity retailers with no disruption to supply. The new open market  has been soft-launched in Jurong and will be rolled out city-wide later this year.

  • M1 launches 10Gbps symmetrical PON

    M1 launches 10Gbps symmetrical PON

    Singapore’s M1 has upgraded and expanded its suite of services for corporate customers, including through the introduction of the world’s first 10Gbps symmetrical passive optical network.

    The new symmetric PON service will allow M1 to provide low-latency 10Gbps symmetrical speeds with guaranteed bitrates across Singapore, for applications including SDN, cloud computing and 4K or 8K video transfers.

    In addition, M1 has introduced a new unified operations monitoring centre to provide real-time information on both network service and public or private cloud IT infrastructure to enterprise customers.

    This will include early warning of impending equipment failure to allow companies to conduct proactive maintenance to rectify potential faults before they occur.

    Finally, M1 has expanded its fiber network to the famous Shenton Way and Orchard Road major streets and the Buona Vista housing estate in Singapore.

    This will allow the operator to offer high-speed corporate connectivity services to more than 55 shopping malls, offices and commercial buildings in those areas.

    “The corporate segment is a key growth sector for M1, and we have accelerated our investments in technology, infrastructure and expertise to better serve our customers,” M1 chief corporate sales and solutions officer Willis Sim said.
    “With the successful launch of our symmetrical PON solution, next-generation unified operations monitoring centre and fibre to the building infrastructure, M1 can offer advance customised high bandwidth connectivity to meet the growing requirements of Internet of Things, smart nation, cloud and big data solutions from our customers.”

  • M1 launches data-centric mobile plans

    M1 launches data-centric mobile plans

    Singapore’s M1 has expanded its data-heavy mySIM mobile plans to bundle the offers with handset subsidies.

    M1 launched a range of SIM-only plans in 2015 that offered large data allocations for customers who do not need a new handset.

    Building on the popularity of this plan, M1 has unveiled the new mySIMe bundled mobile plans, which start at S$40 for 5GB of local data, 100 minutes of voice calls and 100 SMS. M1 has also introduced a S$70 plan with 15GB of data and a S$90 plan with 30GB.

    The high-end S$118 plan meanwhile offers unlimited local data, SMS and voice, while a S$15 add-on can provide unlimited voice calls for the three other plans in the range.

    In addition, a S$10 Data Passport add-on will allow customers to use their local data bundles across 56 destinations worldwide, and a S$12 per month add-on will allow customers to share their plan bundles across up to three lines – this is not available for the unlimited plan.

    Our SIM-only mySIM plans have proven to be popular with our customers. We are now giving them the option to get their favorite smartphone or tablet at a more affordable price with the mySIMe plans,” M1 CMO P Subramaniam said.

  • M1 launches nationwide NB-IoT network

    M1 launches nationwide NB-IoT network

    Singapore’s M1 has announced the launch of Southeast Asia’s first commercial nationwide narrowband IoT network.

    M1 and its partners are using the network to make available IoT solutions in fields including smart energy management for buildings, environmental monitoring, asset tracking and fleet management.

    The operator is today hosting industry partners and businesse to showcase the possibilities of IoT technology, including smart metering, smart NB-IoT GPS trackers, smart GPS locks, smart waste management through bins with alters to cleaners when they are full and even smart toilets that can detect when they need cleaning.

    “The launch of Southeast Asia’s first commercial nationwide NB-IoT network will accelerate our journey into a digital society,” M1 CEO Karen Kooi said.

    “The Internet of Things will open up an incredible array of fresh opportunities and innovation. We look forward to working closely with government agencies, technology partners, and customers to enable smart solutions for everything and everyone.”

    Rival Singtel has meanwhile announced plans to roll out a nationwide cellular IoT network supporting both CAT-1 and NB-IoT by end September.

    Singtel will use its cybersecurity operations to support businesses in deploying secure IoT solutions, and plans to invite business and technology partners to develop and test IoT solutions at its joint IoT Innovation Lab operated with Ericsson.

    “The launch of our network provides an ideal platform for the proliferation of IoT devices and applications,” Singtel CEO Bill Chang said.

    “With more businesses embracing the digital future, it paves the way for IoT adoption as Singapore advances towards becoming a Smart Nation. We welcome businesses to be part of the growing IoT ecosystem by leveraging on our robust infrastructure and network.”

  • M1 1H profit falls 17.6%

    M1 1H profit falls 17.6%

    Singapore’s M1 has reported a 17.6% slump in net profit for the first half of the year to S$68.8 million ($50.3 million) as a result of flat revenue and higher depreciation and interest expenses.

    Service revenue stayed at $406.2 million despite a 22.3% year-on-year increase in fixed service revenue to S$61.2 million.

    Mobile revenue by contrast fell 2.9% to S$317.1 million, and international call services revenue declined 9.6% to S$28 million.

    M1’s total customer base grew 4.5% during the six-month period to 2.2 million, including 176,000 fiber customers.

    On the mobile front, postpaid customers grew 3.7% to 1.3 million with prepaid customers up 2.5% to 777,000. But the shutdown of the operator’s 2G network during Singapore’s 2G switch-off led to a slight decline in total mobile customers to 2.04 million.

    M1 also announced an increase in average postpaid smartphone data usage to 3.9GB per month, up from 3.3GB a year ago. Mobile data’s contribution to total service revenue meanwhile increased 1.5 percentage points to 55.5%.

    Based on the first-half results and the current economic outlook, M1 said it is forecasting an overall decline in net profit for the full year, but CEO Karen Kooi said the company is positioned for long term growth.

    “M1 is well positioned to capture new opportunities presented by the digital economy. We have been investing in NB-IoT network and digital solutions, and expanded our offerings to include managed infrastructure services, cyber security, business solutions and analytics,” she said.

    “This would enable us to better serve our customers and generate new revenue streams for future growth.”

  • M1 shareholders may seek sale to China Mobile

    M1 shareholders may seek sale to China Mobile

    Major shareholders in Singapore’s M1 have reportedly approached China Mobile with an offer to sell their majority stake in the operator.

    Malaysia’s Axiata Group, Singapore Press Holdings and Keppel T&T – which together hold a controlling 61% stake in M1 – are reviewing their investments in the operator in the wake of lackluster financial results and intensifying competition.

    The shareholders have now reached to China Mobile as well as other prospective bidders with a proposal to sell the stake, citing unnamed sources.

    Negotiations are still at an early stage and it is unclear whether China Mobile was receptive to the offer, the report notes.

    M1 is worth around S$1.9 billion ($1.36 billion), and has long been considered an acquisition target due to its smaller size and diverse shareholder base. Rumors were circulating last month that rival StarHub may be considering acquiring or merging with M1, but later reports disputed those rumors.

    The report adds that Singapore trading rules would require the purchaser of the stake to make an offer to buy out the rest of M1.

    The review comes ahead of the arrival to the market of new entrant TPG Telecom, the Australian fixed line operator that recently won the auction to become Singapore’s fourth mobile operator. TPG is also planning a mobile foray in its home market.

  • M1 profit falls 14.6% in Q1

    M1 profit falls 14.6% in Q1

    Singapore’s M1 has reported a 14.6% year-on-year decline in post-tax profit for the March quarter to S$36.3 million ($26 million), attributing the result in part to higher depreciation and interest costs.

    Operating revenue grew 1.2% to S$260.7 million, with service revenue remaining flat at S$201.5 million. Fixed line revenue growth reached 22.8% to S$30 million, offsetting declines in both international voice and roaming revenues.

    M1 added 8,000 fiber customers during the quarter, taking its total base to 168,000. In the mobile segment, M1 added 24,000 postpaid customers and 3,000 prepaid customers, with its total mobile customer base reaching 2.05 million.

    But mobile revenue declined 0.5% to S$158.4 million and international call services fell 9.9% to S$15.5 million.

    Monthly MOU also declined 5.6% to 203 for postpaid customers and 9.6% to 191 for prepaid users, while net ARPU fell 2.3% for postpaid users to S$49.50 and 4.5% for prepaid users to S$11.50.

    M1 estimates it ended the quarter with an overall mobile market share of 23.8%, with a postpaid share of 24.8% and prepaid share of 22.5%.

    While announcing the results, M1 CEO Karen Kooi said the new 700-MHz and 900-MHz frequencies acquired from Singapore’s recent major spectrum auction will allow the operator to “deliver an enhanced network experience cost effectively with optimal use of spectrum.

    “With the largest Wireless@SG network and our small cell/WiFi HetNet deployment at targeted locations islandwide, we are delivering a superior data experience in places where it matters most to our customers and laying the foundation for future dense grid 5G architecture,” she said.

  • M1 launches cross-border mobile remittance

    M1 launches cross-border mobile remittance

    Singapore’s M1has launched new cross-border digital mobile remittance supporting transfers to multiple APAC destinations.

    The service named M1 Remit is available to users of M1 mobile phone numbers holding valid NRIC/FIN/Work Passes in Singapore.

    Users of the service can access real time exchange rates and remit funds to their designated recipients anytime, anywhere, through a mobile app or a browser on their smart device.

    Unlike typical remittance services where customers have to queue at a physical outlet to deposit funds, payments for M1 Remit transactions can be made at any one of the 915 AXS machines located in shopping malls, office buildings and other sites islandwide using an ATM card.

    Customers who do not have bank accounts or ATM cards can opt to make cash payment at M1’s IMM and Paragon outlets in Singapore, after completing a one-time verification process.

    Recipients will be able to cash out as quickly as within an hour of the transaction from over 23,000 cash agents and 640 banks available at the various destinations.

    M1 Remit currently offers eight remittance destinations – Bangladesh, India, Indonesia, Myanmar, Malaysia, Sri Lanka, Pakistan and the Philippines. Thailand, Vietnam, and other remittance destinations will be made available progressively. For a limited time, M1 Remit is also waiving the remittance fee to these destinations.

    “M1 Remit offers a wholly digital experience for money remittance. Nobody likes to queue, and now our customers can skip the queue and make better use of their time with and M1 Remit – Singapore’s most convenient, secure and cost-effective way to remit funds to their loved ones,” M1 chief innovation officer Alex Tan said.

  • M1 to deploy vEPC solution from Huawei

    M1 to deploy vEPC solution from Huawei

    Singapore’s M1 Limited has announced plans to launch the nation’s first cloud-based virtual enhanced packet core (vEPC) network solution with Huawei.

    The deployment is aimed at further enhancing M1’s core network resiliency, while also enabling dynamic and more efficient use of network resources to support wide-ranging Smart Nation use cases, and shortening the time to market in the deployment of new IoT services.

    By harnessing the latest cloud-computing and Network Function Virtualization (NFV) technologies, M1’s fully distributed and agile packet core network will be able to dynamically deploy core resources wherever they are needed, and provide flexibility to swiftly scale up and down resources based on customer demands.

    Furthermore, with software functions separated from the underlying hardware platforms, the cloud-based virtualized core network allows faster “in-service” software upgrades, as well as significantly reducing downtime for maintenance and testing of new services. Through this, M1 expects to improve its operational efficiency and strengthen network resiliency.

    “The deployment of our agile cloud-based virtualised core network will strengthen our network resiliency and enable us to deploy our resources more efficiently, M1 CTO Denis Seek said.

    “The highly scalable nature of the network will also enable us to meet the dynamic resources demands of new products, shorten the time-to-market innovative products, and enable us to reduce implementation and maintenance costs.”