Simba parent Tuas full-year profit surges to S$26 million on subscriber growth

Simba Telecom's Australian-listed parent company, Tuas, experienced a significant surge in profit during its latest financial year, reaching S$26 million, a staggering 277 per cent increase from the previous year's S$6.9 million. This growth was primarily driven by a substantial rise in subscribers and a broader range of plans with higher inclusions, expanding its target customer base.

The company's revenue also saw a 24 per cent increase, reaching S$187.6 million compared to S$151.3 million in the prior financial year. Basic earnings per share climbed from S$0.0148 to S$0.0478, while underlying earnings before interest, taxes, depreciation, and amortisation rose by 22 per cent to S$83.8 million. This financial success came after Tuas entered an agreement to acquire M1, despite an initial setback when the Infocomm Media Development Authority (IMDA) raised concerns over unauthorized spectrum usage.

The Tuas board had raised S$322 million from institutional investors and S$42.5 million through a share purchase plan to support the M1 acquisition. Despite the challenging market conditions, the company's active mobile services grew to nearly 1.5 million subscribers as of July 31, 2025, and its fibre broadband business ended the year with 62,000 subscribers.

For the upcoming financial year, Tuas anticipates incurring incremental capital and operating expenditure of S$15 million to S$30 million to meet cybersecurity requirements imposed by Singapore regulators.