Singapore, Jan 16, 2026, 15:10 SGT — Regular session
Shares of Singapore Telecommunications Ltd held steady at S$4.49 in mid-afternoon trading. The company’s tech services unit, NCS, announced that CEO Ng Kuo Pin will step down on April 1, with deputy CEO Sam Liew set to succeed him. (SG Investors)
The leadership shift comes as Singtel pushes to focus more on faster-growing enterprise and tech services, moving beyond just mobile and broadband. Investors are particularly eyeing NCS for growth, and with the stock already reflecting more stable outcomes, execution becomes crucial.
This arrives as major clients grow more selective with their tech spending. In such an environment, even a routine leadership change can spark doubts about sales momentum, profit margins, and the new leader’s appetite for growth.
Ng has led NCS since 2019 and joined Singtel’s management committee in 2021, The Straits Times reported. The outlet said Liew, who comes from GIC’s technology group and previously worked at Accenture, will take over. Singtel group CEO Yuen Kuan Moon was quoted saying Ng “has scaled the business from $1.8 billion to $3 billion in revenue.” (The Straits Times)
The Straits Times Index edged up roughly 0.2% during the session, providing neither a boost nor a burden to individual stocks. (Trading Economics)
Singtel previously indicated its operating company earnings before interest and tax, excluding associates, are set to rise from high single digits to low double digits by fiscal 2026. This follows a stronger first-half underlying profit, driven by a better-than-expected Optus showing and bigger contributions from regional associates. (Reuters)
Singtel is pushing a capital return story alongside its operational recovery. The company unveiled a S$2 billion share buyback plan spread over three years and raised its mid-term asset recycling target to S$9 billion. At the same time, it cautioned that “macroeconomic and geopolitical uncertainties” might still weigh on sentiment. (Reuters)
That said, investors might hold off on reacting to the planned CEO succession until next quarter’s results come in. Risks include a rocky handoff or weaker government and enterprise deal flow if clients hesitate or push harder on pricing.
