Singapore, Jan 18, 2026, 14:58 SGT — Market closed.
- Singtel finished flat at S$4.49 on Friday, with the stock swinging between S$4.46 and S$4.52 during the session
- NCS CEO Ng Kuo Pin is set to step down April 1, handing the reins to deputy Sam Liew
- Monday’s open will be key as traders zero in on NCS execution for signs of follow-through
Singapore Telecommunications Ltd (Singtel) shares closed flat at S$4.49 on Friday, wrapping up a quiet session before the weekend. Investors absorbed news of a leadership shift at its technology services division, NCS. 1
The Singapore market is closed on Sunday, so investors are already positioning for Monday. The key question: Is the NCS handover just a routine change, or does it signal Singtel’s push for more aggressive execution from one of its growth drivers?
Singtel’s core telecom operations remain steady, though competition is fierce. Its enterprise and digital divisions have turned into the key drivers of investor sentiment. Positioned right in the mix, NCS provides technology and digital services to governments and businesses across the region.
On Friday, Singtel’s NCS announced that CEO Ng Kuo Pin will step down on April 1, passing the baton to deputy CEO Sam Liew, now named CEO-designate. Ng described the transition as “one of the greatest honours of my career.” 2
NCS chairman Lim Swee Say described the transition as seamless, stating: “We have every confidence that Sam will continue to build on that legacy.” Liew added: “Kuo Pin has built a strong foundation for NCS.” 3
Singtel group CEO Yuen Kuan Moon highlighted the expansion under Ng’s leadership, noting: “Kuo Pin has scaled the business from S$1.8 billion to S$3 billion in revenue.” 4
The broader market edged higher on Friday. Singapore’s Straits Times Index climbed 0.3% to 4,849.10, marking a weekly advance of 2.1%, local media reported. 5
Singtel investors are closely watching the group’s earnings path and the performance of its non-telco units. In November, the company reported a 14% jump in first-half underlying profit, and it projected operating earnings—profit before interest and tax—to rise in the high single to low double digits range for fiscal 2026. 6
But there’s a downside. Leadership changes often cause distractions, and demand for enterprise tech could slip if firms grow wary about spending—especially on new AI ventures that require significant upfront costs. Singtel has previously highlighted macroeconomic and geopolitical risks as concerns in its updates. 7
As markets reopen Monday, traders will be keen to see if Singtel’s share price offers an early signal. Attention will also focus on any further details about NCS’s strategy and succession plans. The key date to watch remains April 1, when Liew is set to assume control.
