Singtel is on the lookout for a media agency. MARKETING-INTERACTIVE understands the pitch called is part of its usual media review, and that R3 is handling the process. Both Singtel and R3 did not comment at the time of writing. The incumbent for the account is OMD who was appointed in 2018, following a pitch also handled by R3. MARKETING-INTERACTIVE also understands that the usual length of appointment is two years. Other agencies currently working with Singtel include BBH and Goodstuph.
The media review comes shortly after the local telco announced that it will be making changes to its top brass with Yuen Kuan Moon, CEO of its Singapore consumer business and chief digital officer, to succeed Chua Sock Koong as group CEO when Chua retires from her role on 1 January 2021. Yuen's appointment comes after a global search was conducted that considered both internal and external candidates for the job.
Yuen, a well regarded figure in the digital industry, led the Singapore consumer business to deliver an integrated suite of mobile, broadband and TV services, and is also responsible for driving the telco's digital transformation. He joined the group in 1993 and has risen through the ranks of the company, with leadership positions in marketing, business development and sales, and at Telkomsel in Indonesia, before his appointment as CEO, consumer Singapore in 2012.
But 2020 hasn’t been without challenges for Singtel. According to its financial report released in August, the telco's revenue in Singapore for the quarter that ended in June 2020 fell by 22% with circuit breaker measures implemented in April and May. Mobile service revenue also declined due to a sharp fall in roaming services as well as lower prepaid usage as customers relied on Wi-Fi as they stayed indoors, and the number of tourists and foreign workers fell significantly with border closures. Movement restrictions during the period also affected equipment sales, the report added.
Meanwhile in March, Singtel's over-the-top (OTT) service HOOQ Digital, which Singtel had an indirect 76.5% effective interest in, commenced a creditors' voluntary liquidation, according to an SGX filing. However, the filing adding that liquidation of HOOQ is not expected to have any material impact on the net tangible assets or earnings per share of Singtel.
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(Photo courtesy: 123RF)
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