Today, TUAS Limited officially unveiled its financial results for the fiscal year 2023, demonstrating robust performance and noteworthy achievements. The company reported a substantial increase in revenue, with a remarkable ascent from S$57.4 million in the previous fiscal year to an impressive S$86.1 million. Additionally, TUAS Limited’s EBITDA exhibited remarkable growth, doubling its value compared to the previous year.
This notable success can be attributed primarily to a remarkable 50% year-over-year surge in subscriber growth. Concurrently, the Average Revenue Per User (ARPU) also experienced an upward trajectory, rising from S$9.19 to S$9.37 per month. As of the latest figures, the subscriber base has reached an impressive milestone, with 819,000 subscribers.
In a significant technological advancement, the telecommunications company announced the commercial launch of 5G NSA (Non-Standalone Access). Impressively, 35% of the user base has already embraced 5G-capable devices, and the company remains on track to achieve over 60% outdoor coverage by the end of 2023. Furthermore, the financial report hints at the potential for spectrum asset optimization. Currently the n1 band (2100 MHz) is primary spectrum of 5G and SIMBA will lobby the regulator to adopt flexible approach to leverage available spectrum for capacity. e.g. n8, n40, n38
There is no mention of when 5G SA (to replace 5G NSA) and roll out date of their mmWave (800 MHz of n257).
Turning to the realm of fiber broadband, TUAS Limited is set to introduce a remarkable 2.5 Gbps offering at the competitive rate of S$20. This high-speed service is scheduled to debut in early October 2023, targeting households in the North East Corridor. The complete rollout of this exciting broadband option is anticipated by the end of the first half of fiscal year 2024.
These financial results and strategic initiatives underscore TUAS Limited’s commitment to delivering exceptional telecommunications services and staying at the forefront of technological advancements in the industry.