Singapore, January 17, 2026, 15:09 SGT — The market has closed.
Shares of Singapore Telecommunications Ltd (Singtel) (SGX: Z74) closed flat at S$4.49 on Friday as the market wrapped up for the weekend. NCS, the group’s IT services arm, announced that CEO Ng Kuo Pin will step down on April 1. Deputy CEO Sam Liew is set to take the helm. The stock fluctuated between S$4.46 and S$4.52, with roughly 14.7 million shares traded. 1
The leadership shift refocuses attention on execution over strategy. For Singtel, NCS remains a key lever to expand beyond the saturated consumer telecom market, where fierce price competition and regulatory pressures limit upside.
Telcos are diving further into enterprise tech and digital infrastructure—areas that seem steady until suddenly they’re not. A CEO change can disrupt client talks, slow hiring, and stall deals, even if the transition is smooth.
NCS chairman Lim Swee Say said, “We have every confidence that Sam will continue to build on that legacy,” as the company zeroes in on AI-driven innovation. Singtel group CEO Yuen Kuan Moon described NCS as “a key growth engine” for the group, noting revenue has jumped from $1.8 billion in 2021 to $3 billion today. Liew added, “Kuo Pin has built a strong foundation for NCS,” and dubbed the next phase “hyper-digitalisation,” driven by AI shaking up customer demands. 2
Singtel’s Digital InfraCo unit highlighted new accolades for its Paragon platform, describing it as a “network-as-a-service” solution that allows companies to buy and manage network functions on demand. Paragon snagged a World Communication Awards 2025 platform award and a Frost & Sullivan technology leadership award for Asia Pacific, according to a release. Digital InfraCo CEO Bill Chang emphasized that platforms need to “adapt, scale, and securely ensure service continuity” amid changing demand and regulatory landscapes. 3
Analysts are focusing on asset monetisation—selling stakes or businesses to free up cash. PhillipCapital’s head of research, Paul Chew, pointed out that yield-chasers “have to go into the equity market” given the current rate environment. He highlighted Singtel’s stake in India’s Bharti Airtel as particularly valuable, calling it “a gift that keeps giving.” 4
Markets held firm heading into the weekend. Singapore’s Straits Times Index ticked up 0.3% on Jan. 16, closing at 4,849.10 and lifting the week’s advance to 2.1%. Interactive Brokers senior economist Jose Torres pointed to renewed “bullish sentiment” on Wall Street, sparked by Taiwan Semiconductor’s earnings that reignited optimism around artificial intelligence. 5
Execution risk runs both ways. NCS faces fluctuations in corporate spending and the timing of government projects, while competition for talent and pricing stays fierce throughout the region. Winning awards and securing platforms doesn’t guarantee steady revenue streams.
SGX remains closed until next week, leaving traders to focus on any fresh disclosures about NCS’s strategy and deal progress. They’ll also be looking to see if Paragon is turning interest into actual contracts. The next major event is April 1, when Liew officially takes over at NCS.
