SIMBA Telecom unveiled its FY2023 results covering the period from August 1, 2023, to January 31, 2024. The report highlights key aspects such as financial performance and future plans.

The subscriber base saw growth, reaching 938 thousand. There was a notable 38% increase in revenue compared to the first half of FY23, along with a significant 56% rise in EBITDA. Average Revenue Per User (ARPU) also saw an uptick from $9.37 to $9.56 in FY23.

Furthermore, SIMBA Telecom successfully completed 4 out of 9 residential COs. Initial feedback appears promising, with over 1,200 orders received and 70% of services activated as of mid-March 2024.

As Singapore Government has announced that up to $100M in grant funding is available across operators who bring consumers onto 10Gbps Fibre broadband. SIMBA has commenced planning for 10Gbps service expansion as Its primary offering.

Regarding 5G coverage, it has surpassed the 60% requirement mandated by IMDA as of December 31st, 2024, based on comprehensive test results. SIMBA demonstrates outdoor coverage exceeding 80%.

No specific timeframe is mentioned for the availability of 5G standalone to subscribers. Additionally, it’s noted that they are content with the current spectrum allocation but remain open to acquiring more spectrum when opportunities arise.

A significant achievement was reached with TUAS being added to the ASX/300 on the Australian Stock Exchange.

By Harry