The history of SingTel and Singapore telecom industry

2343 words (9 pages) Essay

1st Jan 1970 Marketing Reference this

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1.1 Scope

The focus of the study will firstly be on introducing the history of SingTel such as how it was first established in Singapore and follow on by finding out how SingTel manage to be so successful throughout the years and what kind of strategy they adopt to remain competitive and strong in the telecommunication industry such as the challenges they face and how to go about overcoming these challenges. A 4Ps model and SWOT analysis is also done to get better insights on the company.

1.2 Background

In Singapore, SingTel has had more than 120 years of operating experience and has played an integral part in the development of the city as a major communications hub in the region and it is Asia’s leading communications group which provides various ranges of communication services and solutions. It includes fixed, mobile, data, Internet, info-communications technology, satellite and pay TV.

In Australia, Optus serves more than six million customers. It has driven the competition as the challenger brand and led the way in technological innovations and breakthroughs.

Over the years, SingTel has grown to be a global player with a strong regional heritage. With one of the most extensive and advanced telecommunications infrastructure, the Group offers unparalleled reach in Asia and beyond.

SingTel’s highly developed international network provides direct connections from Singapore to more than 100 countries. It is a major investor in many of the world’s most sophisticated submarine cable and satellite systems. The Group is the second largest satellite operator in the Asia Pacific.

SingTel has the ability to support multi-national corporations (MNCs) on a cross-border basis whereby it is anchored by its extensive network of SingTel Global Offices (SGOs). To serve the needs of multinational corporations, SingTel has a network of 36 offices in 19 countries and territories throughout Asia Pacific, in Europe and the USA.

The Group’s other major investments in the region include Advanced Info Service of Thailand, the Bharti Telecom Group of India, Pacific Bangladesh Telecom of Bangladesh, Globe Telecom of the Philippines and Telkomsel of Indonesia. Together with its regional partners, SingTel is Asia’s largest multi-market mobile operator, serving more than 71 million customers in seven markets.

1.3 History

SingTel traces its heritage back to 1879 when Singapore became one of the first cities in the East to have telephone service which is three years after Alexander Graham Bell patented his invention. During that time, a Mr Bennet Pell actually started a private telephone exchange which had 50 lines.

Until the mid-1950s, telephone services in Singapore were managed by British interests.  In 1955, the Singapore Telephone Board (STB) was incorporated as a statutory board with exclusive rights to operate telephone service within Singapore.  This was followed by the merger of STB and Telecommunications Authority of Singapore (TAS) in 1974.  Up until that time, STB was responsible for local services, while TAS provided international services.  1982 saw the merger of the Postal Department with Telecoms.

In 1988, a subsidiary, Singapore Telecom International, was formed.  This marked the beginning of SingTel’s expansion into overseas markets.  The corporatisation of SingTel in 1992 was followed by its Initial Public Offering a year later.  It remains Singapore’s largest ever IPO.

The Singapore telecoms market was fully liberalised in April 2000.  Despite the competitive environment, SingTel continues to maintain its leadership position in the Singapore market.  SingTel operates slightly under 2 million direct exchange lines, which translates to one line for every two persons in Singapore.  As at 31 March 2006, SingTel is also the leading mobile operator in Singapore with a 43%market share for postpaid, and leads the broadband Internet market with a 53% market share.

In the last couple of years, SingTel has significantly transformed its business.  In 2001, SingTel concluded its largest overseas investment ever, with the acquisition of Optus – the second largest telecommunications provider in Australia.  It also invested in Telkomsel in Indonesia, the Bharti Group in India, Pacific Bangladesh Telecom Ltd and increased its stake in Globe Telecom in the Philippines.  As at 31 March 2006, SingTel and its associates had 85 million customers. This is the largest mobile customer base in Asia outside of China.

Recognition

Symbol of SingTel

Singtel identity consists of different components which includes the symbol and the logotype and thus creates a unique corporate signature:

Symbol:

It consists of 2 squares and an ellipse which the squares actually represents the advanced technology used in telecommunications business and the ellipse means that Singtel is in the global network.

Logotype:

The logotype differentiate the company by name and the specially designed serif typeface known as Corporate A Type, has been selected due to its contemporary look which also provides a friendly influence which represents the SingTel’s attitude towards its customers.

Corporate color:

The red and black on SingTel stand for the stability, foundation of experience, expertise and a commitment to the best possible service which SingTel has built up throughout the years. The grey on SingTel has been selected for secondary graphics of square pattern and complements the colors for the corporate symbol.

F1 Sponsorship

SingTel has been the first telecommunication company

This is not the first time SingTel has been a sponsor for the F1 race. The first Singapore F1 race which is better known as the ‘Singapore Grand Pix’ was held in 28 Sep 2008, the race being held in Singapore

Case study of SingTel in Singapore

====Progress made over the years====

Awards

2005

Asian Mobile News Awards- Mobile Operator of the Year, Singapore Asian Mobile Operator of the Year Mobile Operator CEO of the Year – Lim Chuan Poh (SingTel Mobile)

Telecom Asia Awards- Best Fixed-Line Carrier (Singapore)

FinanceAsia’s Best Managed Companies Poll- Asia Best Managed Company (Telecommunications), Best Managed Company (Singapore), Best Corporate Governance, Best Investor Relations, Best CFO, Best IR Representative

S1000 Awards 2004/2005- Most Profitable Company Among the top 1000 Singapore firms

Singapore 1000 Awards- Highest Net Profit and Highest Sales/Turnover (Communications, Transport & Storage)

2004

Singapore Brand Award- Top among 15 Most Valuable Brands in Singapore

AsiaMoney Corporate Governance Pol- Top in Singapore for corporate governance

IR Magazine Asia Awards- Grand Prix for Best Overall Investor Relations, Best IR use of the Internet, Best Corporate Governance, Best Board Communications, Best Communications of Shareholder Value, Best IR by a Singaporean Company

World Communication Awards- Best National Mobile Operator

Asian MobileNews Awards- Asian Mobile Operator of the Year

Frost & Sullivan Asia-Pacific Technology Awards- Service Provider of the Year

Reader’s Digest SuperBrands Survey- Reader’s Digest Superbrand Platinum

SIAS Investors’ Choice Awards- Singapore Corporate Governance Award and Most Transparent Company (Golden Circle) Award

FinanceAsia’s Best Managed Companies Poll 2004- Asia’s Best Managed Company, Best Corporate Governance, Best Investor Relations, Best CFO, Best IR Representative

Telecom Asia’s Readers’ Choice Survey- Asia’s Best Telecoms Company (FinanceAsia Asia’s Best Companies Survey 2003) Best Asian Telecom Operator from 1998 – 2003

Singapore Business Award- Best CEO (Lee Hsien Yang)

Asia Computer Weekly Readers’ Choice Awards 2004- ConnectPlus voted Star Performer

2003

World Communication Award- Best Regional Carrier

Euromoney’s 8th Asian Companies Ranking- Best Company in Singapore, Best Cellular Operator in Asia, Best Fixed-line Operator in Asia

The Banker Company Awards- Company of the Year in Singapore

Corporate Governance Survey- Top in Corporate Governance Among Singapore Companies (The Asset Benchmark Research’s

Far Eastern Economic Review’s Annual Company Survey 2003- Second most admired company in Singapore

Singtel core values

Customer Focus

-Singtel relates and keep in contact with customers and at the same time, they anticipate their needs and cater to them, making business easier for both parties. Singtel promises to deliver services of good quality and value so as to provide customer the top notch service possible and also to enhance success.

-Singtel also treat their customer with the utmost amount of respect and pride

Challenger Spirit

-Singtel always adopt new approach in doing a business and always aim to differentiate themselves, adapting unique characteristics. When encounter with difficulties and opportunities, they don’t say “Cannot”, they ask “Why not?”. They are very determined and compete fairly and at the same time, they set the pace and never give up.

Teamwork

-Singtel value the ideas contributed by everyone and they recognise, respect and value diversity in the team. At the same time, through communication with each other and sharing of mutual knowledge, they develop strong bondings and also, they fairly encourages open discussions and acceptance of each other as Singtel believes that each of them plays an important part.

Integrity

-Singtel’s reputation is derived from their capabilities to fulfil their promises to customers, shareholders and employees and they do so by being accountable for every actions and taking responsibilities for it. Once they have identify possible threats, they come up with solutions to tackle them. Most importantly, Singtel does everything with honesty, being truthful in everything they do.

Personal Excellence

Leadership and superior performance are achieved through the pursuit of personal excellence.

-SingTel are very committed in everything they do and doing them to the best. They also recognise potential of individuals and provide opportunities for growth and excellence. They ensure continuous enhancement and improvement, taking pride in the things they do, making sure they provide high standard of services.

The 4Ps Model

The marketing mix consists of Product, Price, Place and Promotion, which is also known as four Ps model. They are controllable variables in order to best satisfy customers in the target market.

Product

A product is anything that can be offered to a market for attention, use or consumption and that might satisfy a want or need. It is the thing that a business sells, be it goods or services.

Singtel is a leading communication company that provides communication solutions to both the consumer and corporate market.Singtel provide 4 main type of services which consist of Singnet(ISP), MioTv(IPTV), Mobile Phone(Singtel Mobile Singapore) and Fixed line telephony services.

Mobile:

Mio:

Broadband:

Price

-Singtel offers different type of pricing for the different segment of the market such as under the Consumer segment, they offer a different pricing for student and on the Corporate side, they offer different promotion as well for the corporate staff:

*An example of Singtel MOE corporate special rate:

-Singtel also provide bundling of their products for all services, providing attractive prices with the different combination such as Mio package that gives customer a great discounted pricing when take Singtel multiple services.

An example of a Mio pricing package:

Place

For a company to be successful, place is very important. Singtel currently have 11 main hello shops being dispersed in every part of Singapore, this includes about 2 outlets in each different region of Singapore (North,South,East,West) ensuring that their services are accessible to the customers. They currently locate their headquarter in a strategic area which lies in the most centralized area of Singapore which is the comcentre at Somerset area.

Promotion

Singtel have constant advertising being place all over

SWOT Analysis

SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or a business.

Strength

Singtel constantly provide promotions that caters to customer needs.

Conclusion

In conclusion, SingTel is the best-known leading of the telecommunication industry. It is Asia’s largest multi-market mobile operator and it is still growing. SingTel has had more than 120 years of operating experience and has played an integral part in the development of the city as a major communications hub in the region. It has driven the competition as the challenger brand and led the way in technological innovations and breakthroughs.

Over the years, SingTel has grown to be a global player with a strong regional heritage. The reason behind SingTel’s success is that they based upon their customer focus. They listen to, and connect with, customers and treat them with dignity and respect. By understanding and anticipating their needs, they make it easy for their customers to do business with us.

With 100% customer satisfaction, SingTel aim to offer them value and quality services to enrich lives and enhance business success.

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