{"id":82779,"date":"2026-06-23T07:01:15","date_gmt":"2026-06-23T07:01:15","guid":{"rendered":"https:\/\/www.europesays.com\/ai\/82779\/"},"modified":"2026-06-23T07:01:15","modified_gmt":"2026-06-23T07:01:15","slug":"singtel-raises-773-million-from-gulf-development-stake-sale-to-fund-ai-growth","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ai\/82779\/","title":{"rendered":"Singtel raises $773 million from Gulf Development stake sale to fund AI growth"},"content":{"rendered":"

A logo of Singapore Telecommunications (Singtel) is seen outside its building in Singapore on February 12, 2016.<\/p>\n

Roslan Rahman | AFP | Getty Images<\/p>\n

Southeast Asia’s largest telecom operator, Singtel,\u00a0has sold 2.8% of its stake in Thailand’s largest energy firm, Gulf Development, for about S$1 billion ($772.9 million), as it seeks to raise cash for new investments.<\/p>\n

The stake was sold directly to institutional investors and is expected to generate an equity\u00a0gain of about\u00a0140 million\u00a0Singapore dollars, Singtel said in a statement on Tuesday. <\/p>\n

Following the transaction, Singtel will retain a 4.95% stake in Gulf Development, valued at about 1.8 billion Singapore dollars.<\/p>\n

“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. <\/p>\n

Lang said that Singtel’s partnership with Gulf Development remains strong and that Thailand continues to be an important market for the company. <\/p>\n

The divestment comes as Singtel increases investments<\/a> in growth areas. The company expects capital expenditure to reach around 3 billion Singapore dollars in its current fiscal year, up from 2.5 billion Singapore dollars a year earlier. <\/p>\n

“1.2 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.<\/p>\n

Singtel’s shares last traded 1.38% lower at 4.30 Singapore dollars. <\/p>\n

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"A logo of Singapore Telecommunications (Singtel) is seen outside its building in Singapore on February 12, 2016. Roslan…\n","protected":false},"author":2,"featured_media":82780,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[24,25,148,3540,31533,1419],"class_list":["post-82779","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ai","tag-ai","tag-artificial-intelligence","tag-business-news","tag-singapore","tag-telecommunications","tag-thailand"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/82779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=82779"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/82779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/82780"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=82779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=82779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=82779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}