MyRepublic mobile play could turn profit in 3 years
MyRepublic, the ISP vying to become Singapore's fourth mobile operator, has revealed it expects its proposed mobile operations could become profitable within three years of securing a license.
The company expects to attract at least 250,000 in its first year of commercial operation as a mobile operator, Bloomberg reported, citing an interview with CEO Malcolm Rodrigues.
By differentiating through offering unlimited data plans, the company aims to grow to a 9% market share within five years, which would translate to around 700,000 users.
According to the report, making use of its existing fixed line facilities should allow the operator to deploy a nationwide 4G network for less than a third of the cost of a greenfield build out. The company estimates it will need only around S$300 million ($215.1 million) for the rollout.
While incumbent operator SingTel has argued against the entry of a new mobile operator on the grounds that it would hurt the industry through excessive price competition, Rodrigues said MyRepublic has never been a price disrupter and never will be.
But to fulfil its ambitions MyRepublic will first need to secure an operating license and mobile spectrum during an auction expected for the third quarter. Other companies including OMGTel have expressed an intention to bid for the license.
Shanthi Ravindran and Glen Ragoonanan/Analysys Mason
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