StarHub reported S$1.1 billion (US$814 million) in revenue for the first half of 2025, up 2.2% year-on-year.

The Singapore-based telco saw growth in broadband (4.4%), regional enterprise (6.8%), and cybersecurity services (20.1%).

Net profit for the period stood at S$62 million (US$45.8 million), excluding a S$14.1 million (US$10.43 million) one-off forfeiture payment related to spectrum rights.

StarHub completed the full acquisition of MyRepublic Broadband during the period, further consolidating its position in Singapore’s broadband market.

The company declared an interim dividend of 3.0 cents per ordinary share for 1H2025.

StarHub revised its full-year 2025 EBITDA outlook, now targeting 88% to 92% of FY2024 EBITDA, citing a need for strategic flexibility amid market competition.

Cash and bank balances at the end of June 2025 were S$487.1 million, (US$360.45 million) with net debt to EBITDA at 1.9x.

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🔗 Source: StarHub

🧠 Food for thought

1️⃣ Singapore’s telecom consolidation creates three-player market dynamics

StarHub’s acquisition of MyRepublic Broadband reflects a broader industry consolidation that’s reshaping Singapore’s telecommunications landscape.

Recent corporate maneuvers have consolidated Singapore’s telecom sector back to three major players: Singtel, StarHub, and M1, with M1 being sold to Simba Telecom alongside StarHub’s MyRepublic acquisition1.

This consolidation occurs in a mature market with nearly 10 million mobile subscriptions, translating to a 165% penetration rate1.

The competitive pressure in this saturated market has driven operators like StarHub to adapt by shifting focus toward enterprise solutions and infrastructure investments, as traditional telephony services become commoditized.

StarHub’s strategic move to fully acquire MyRepublic while maintaining separate brand positioning demonstrates how operators are balancing market consolidation with multi-brand strategies to capture different customer segments.

2️⃣ Cybersecurity services capitalize on escalating threat landscape

StarHub’s impressive 20.1% growth in cybersecurity services aligns with the intensifying threat environment facing telecom infrastructure.

Telecom companies now face an increasing number of cybersecurity threats, with state-sponsored cyber espionage becoming more frequent and over 30,000 vulnerabilities disclosed in the previous year—a 17% increase from prior figures23.

This threat escalation particularly impacts telecoms because their networks serve as critical infrastructure, making them attractive targets for foreign adversaries and creating regulatory pressure for enhanced security measures.

The rise of remote work and cloud adoption has made telecom endpoints and data flows even more vulnerable, creating sustained demand for advanced cybersecurity solutions that StarHub is well-positioned to provide3.

StarHub’s emphasis on AI-driven security operations and threat intelligence investments reflects industry recognition that traditional security approaches are insufficient against sophisticated modern attacks.

Recent StarHub developments

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