Telenor expands its presence in Singapore to capture regional opportunities.
– The strengthened team at our Singapore headquarters will add value to our operations and safeguard our interests in the region. This will also help us ensure value creation of our assets, and we will explore structural partnerships or, in the future, a potential IPO, said head of Telenor Asia, Jørgen Rostrup.
Jørgen Rostrup further highlighted that the main foundation of Telenor’s continued growth in Asia is that its services are helping improve people’s lives and empower societies.
As of now, each market – Bangladesh, Thailand, Pakistan and Malaysia – will have dedicated Management Teams representing Telenor’s interests in local boards through the role of asset managers. The team in Singapore will additionally be strengthened with expertise in finance, operations, risk management, governance, people management and responsible business.
On 25 August, Telenor announced its regional office in Singapore was to be strengthened to support a merger process in Asia. Subsequnetly, the establishment of Telenor Asia with headquarters in Singapore, with the focus of strengthening its activities and position in Asia, was presented on 21 September.
Telenor has signed merger agreements in Malaysia and Thailand. According to its official web page, and upon completion of these agreements, Telenor Asia will have acquired more than 200 million customers and $10 billion in revenue.
Based on the two mergers, Telenor has set itself a target of reaching $1.2 billion in cash flow by 2025 across three areas comprising the increase of mobile adoption in Bangladesh and Pakistan, growing business-to-business (B2B) revenue and expanding customer value by offering insurance, security and gaming products.