Singtel and Telekom Malaysia's JV to Develop Data Centers Appears Timely -- Market Talk

Dow Jones06-19

0226 GMT - Singtel and Telekom Malaysia's recent joint venture to develop data centers in Malaysia is timely, thanks to the development of a special economic zone between Singapore and the Malaysian state of Johor Bahru, RHB Singapore Research team says in a note. Singtel will develop a new hyperscale data center campus in Johor for its maiden entry in Malaysia, RHB notes. Data centers are considered as core economic enablers, the team says. With the latest JV, Singtel's overall data center capacity is set to grow from its current 62 megawatt in Singapore to more than 250 megawatt regionally over the next three years, it adds. RHB keeps a buy rating on Singtel's stock with a target price of S$3.25. The stock is last at S$2.59.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

June 18, 2024 22:26 ET (02:26 GMT)

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Singtel will develop a new hyperscale data center campus in Johor for its maiden entry in Malaysia, RHB notes. Data centers are considered as core economic enablers, the team says. With the latest JV, Singtel's overall data center capacity is set to grow from its current 62 megawatt in Singapore to more than 250 megawatt regionally over the next three years, it adds. RHB keeps a buy rating on Singtel's stock with a target price of S$3.25. 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