SINGAPORE: Shares of StarHub closed at a four-month high on Thursday (Oct 4), a day after the telco announced that it was retrenching 300 employees under a company transformation plan.
The counter surged 4.3 per cent to end the day at S$1.95, its highest level since Jun4. It outperformed the broader Straits Times Index, whichlost 1.1 per cent to end the tradingday at 3,231.59.
In a media release issued on Wednesday evening, the telco announced a strategic transformation plan to focus on and invest in new businesses, such as its recently created cybersecurity company, and digitalisation initiatives.
The move was described by CEO Peter Kaliaropoulo as necessary amid inevitable pressures from intense local…
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