{
  "id": 9258184,
  "title": "Simba admits exceeding spectrum limits amid failed M1 deal; full-year profits surge 277%",
  "url": "https://urgent.news/2026/09/23/simba-admits-exceeding-spectrum-limits-amid-failed-m1-deal-full-year",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T00:34:47.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/simba-admits-exceeding-spectrum-limits-amid-failed-m1-deal-full-year-profits-surge-277"
  },
  "original_language": "en",
  "account": "Tuas Limited, the Australian-listed parent of Simba, has disclosed that its use of spectrum exceeding permitted limits played a role in the collapse of its proposed acquisition of M1. The company's unit, Simba, admitted to using the 2,300 megahertz spectrum, allocated for 4G networks, beyond the permissible limits set by the Infocomm Media Development Authority (IMDA) of Singapore. Tony Moffatt, the company secretary of Tuas Limited, stated this during an earnings call. The issue arose because Simba breached Singapore's Telecommunications Act by using radio frequency bands it was not assigned for mobile services, which led to the termination of the S$1.4 billion deal with M1. Despite the regulatory uncertainty surrounding the spectrum usage, Tuas reported a significant surge in its full-year net profit, reaching S$26 million for the year ending July 31, a 277% increase from S$6.9 million in the previous year. Revenue for the period also rose by 24% to S$187.6 million, while basic earnings per share increased to S$0.0478 from S$0.0148. The company attributes this growth to subscriber growth and the introduction of diverse plans for various customer segments.",
  "summary": "The unit of Australia-listed Tuas Limited attributes the issue to hardware and software issues",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}