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SingTel to invest S$500m in: Cyber security | Smart cities | Data analytics

EDB chairman Leo Yip and SingTel chief Chua Sock Koong believe this first-of-its-kind collaboration will help drive digitisation forward in Singapore, encouraging businesses to move into this arena to tap into this global mega trend.

EDB chairman Leo Yip and SingTel chief Chua Sock Koong believe this first-of-its-kind collaboration will help drive digitisation forward in Singapore, encouraging businesses to move into this arena to tap into this global mega trend.

SINGTEL will invest S$500 million over the next five years and hire 1,000 engineers as part of a three-pronged strategy to build strengths in cyber security, smart cities and analytics.

Chief executive Chua Sock Koong told The Straits Times that the telco will set up an Asia-Pacific Cyber Security Competency Centre (ACE) and incubation labs.

These facilities will experiment with fresh ideas that can then be commercialised here and in markets where Singapore has a footprint such as in Australia, India and some African countries.

SingTel is undertaking this move in a first-of-its-kind collaboration with the Economic Development Board (EDB) to secure relationships with local and foreign organisations relevant to its strategy.

SingTel is also looking worldwide for new technologies that can be combined with what it is doing locally for global sales.

It will comb through technologies developed by portfolio companies that are being funded by its venture capital arm, Innov8, or in other countries such as Israel or in areas like Silicon Valley.

Where it does not own the technologies, it might acquire the companies or partner with them.

SingTel’s latest initiatives complement its move into the digital mobile advertising arena, where it has invested nearly S$1 billion to enhance its marketing activities.

It spent US$321 million (S$407 million) in 2012 to buy Amobee and another US$385 million for Adconion and Kontera, all in the digital mobile advertising industry. Amobee and Konterra are Israeli companies.

Read more at www.straitstimes.com