Singtel Unlocks Nearly $800 Million from Thai Energy Stake Sale to Fuel Growth

Singtel has sold a 2.8 percent stake in Thailand's Gulf Development for about 775 million dollars.

The move forms part of the company's asset recycling efforts under its Singtel28 plan.

Singtel28 Plan Drives Capital Recycling Success

This sale brings Singtel's total unlocked capital to 6.8 billion dollars since 2024.

The company aims for a nine billion dollar mid-term target through similar transactions.

Singtel originally gained its stake after a 2025 merger that combined Intouch Holdings and Gulf.

The remaining 4.95 percent holding in Gulf Development is now valued at around 1.4 billion dollars.

Strong share performance allowed Singtel to realize gains of about 109 million dollars from the deal.

Proceeds will support growth initiatives and shareholder returns like higher dividends.

This approach shows how telecom firms can balance core operations with smart investments in energy and data centers.

For everyday people it means potentially better services and stable company performance over time.

Written by

Journalist at BEAMSTART. I write about breaking business news in the region.

BEAMSTART Membership

Get the stories founders act on, plus $1M+ in perks.