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Fourth telco hopeful MyRepublic attracts S$30m from investors

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SINGAPORE — Local fibre broadband service provider MyRepublic, which hopes to become the Republic’s fourth telco operator, has raised more than S$30 million in funding from two investors, laying down the first bricks in its bold ambition to penetrate a sector dominated by three players.

Indonesian telco Sunshine Network, owned by conglomerate Sinar Mas, has pumped in more than S$20 million, MyRepublic CEO Malcolm Rodrigues told TODAY in an exclusive interview. French telecoms billionaire Xavier Niel, founder of French telco Free, has also invested S$10 million, he added. Mr Rodrigues said Sunshine Network is interested in adopting MyRepublic’s low-cost model and sharing its platform, while Mr Niel aims to piggyback off MyRepublic’s expansion to countries such as New Zealand and Australia.

Read the full article at todayonline.com