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For Singtel’s chief executive officer Chua Sock Koong, 2019 was supposed to be a year to remember.
She began working at
Singapore
’s biggest telecoms company (telco) 30 years ago, but rather than celebrating the anniversary with a bumper bonus, she took a major pay cut that sliced her yearly earnings nearly in half, to S$3.54 million.
That rude shock came after Singtel reported its net profits had fallen 43 per cent to S$3.1 billion in the year to March – a 16-year low for the firm.
The company was quick to admit the past year had been an especially difficult one. Singtel chairman Simon Israel blamed the results on a “perfect storm” of intense competition and rising economic uncertainty.
Singtel’s Chief Executive Chua Sock Koong has taken a pay cut. Photo: Reuters
Share:
Just like Singtel, many of Southeast Asia’s telcos face slowing growth and falling profits, their fates seemingly at odds with that of the region’s internet economy, one of the fastest growing in the world. Telcos supply the internet economy’s very lifeline: connectivity and data. Yet rather than riding the same wave of success, many are struggling.
She began working at
Singapore
’s biggest telecoms company (telco) 30 years ago, but rather than celebrating the anniversary with a bumper bonus, she took a major pay cut that sliced her yearly earnings nearly in half, to S$3.54 million.
That rude shock came after Singtel reported its net profits had fallen 43 per cent to S$3.1 billion in the year to March – a 16-year low for the firm.
The company was quick to admit the past year had been an especially difficult one. Singtel chairman Simon Israel blamed the results on a “perfect storm” of intense competition and rising economic uncertainty.
Singtel’s Chief Executive Chua Sock Koong has taken a pay cut. Photo: Reuters
Share:
Just like Singtel, many of Southeast Asia’s telcos face slowing growth and falling profits, their fates seemingly at odds with that of the region’s internet economy, one of the fastest growing in the world. Telcos supply the internet economy’s very lifeline: connectivity and data. Yet rather than riding the same wave of success, many are struggling.
