SingTel

Temasek Holdings holds approximately 51.91% of SingTel's voting shares, making it the controlling shareholder. Temasek does not directly manage SingTel's day-to-day investment decisions — the Group CEO and board retain autonomy over capital allocation. However, strategic alignment between the two entities is evident in overlapping infrastructure and digital economy themes, and Temasek's presence provides a long-duration capital orientation that informs SingTel's tolerance for illiquid, multi-decade infrastructure bets.

SingTel holds a joint venture stake in GXS Bank, a digital full bank licensed in Singapore and a digital bank in Malaysia, co-owned with Grab Holdings. GXS targets retail consumers and small and medium-sized enterprises underserved by traditional banks. The bank operates on a cloud-native technology stack and represents SingTel's primary vehicle for the financial technology sector, distinct from its earlier minority stake in Sygnum, a Swiss digital asset bank.

The firm's infrastructure footprint concentrates on Singapore, Indonesia, Thailand, Japan, and Australia. The submarine cable network extends connectivity across intra-Asia routes, the Indian Ocean, and the trans-Pacific corridor. The Nxera data center platform anchors in Singapore with additional facilities serving Jakarta, Bangkok, and Tokyo. The Australian presence is held through Optus, which operates its own telecommunications and tower infrastructure.

Optus, SingTel's wholly owned Australian subsidiary, functions as both an operating telecom provider and an infrastructure platform. Its mobile tower network, retail subscriber base, and enterprise connectivity contracts generate steady operating cash flows that fund dividends upstream to the parent. Optus also participates in SingTel's broader digital infrastructure strategy, serving as a delivery base for regional enterprise and cloud services.