You may have already heard the news by now – Singapore’s fourth telecom has been chosen, and it’s not MyRepublic.
However, for the two years that MyRepublic have made their intentions public, they have emerged as a fan favourite among Singaporeans in the race to become the fourth telco, almost elevating them to a position of the people’s champion with promises of mobile plans that many were looking forward to.
MyRepublic’s Statement On Their Auction Exit
In a statement released today, MyRepublic CEO Malcolm Rodrigues has shed some light as to why his company made the tough decision to exit the IMDA’s New Entrant Spectrum Auction.
First was the bidding price – all $105 million of it that TPG Telecom offered. MyRepublic’s final cash-backed bid was valued at $102.5 million, and it was an amount that they were not able to increase to surpass the higher bid.
MyRepublic is of the belief that paying more for the spectrum would mean that they will abandon their vision they have as a fourth telco. This will in turn affect what services they could offer, how their business would run, and their impact on the Singapore landscape.
So, after careful analysis, a decision was made to exit the auction so that MyRepublic can better serve their customers in Singapore through a different approach that they have embarked upon, which will bring the company down the path towards a vision of seamless connectivity between mobile and home broadband.
Support For Smart Nation, And Overseas Plans
With an immense amount of support, and feedback pouring their way, MyRepublic wants to reassure Singaporeans that they are still heavily committed to the government’s vision for a Smart Nation, and everything they have done so far have all been to achieve that common goal.
While their journey in mobility may have been brought to an end, their path as an Internet Service Provider is only beginning.
With 2017 coming, the MyRepublic CEO also took the time to share some future expansion plans beyond Singapore shores. A host of new products and services will not only be introduced in the next year for Singapore, but also for Indonesia, New Zealand, and Australia.
Singaporean pride is something that they are very proud of, and Singapore will still be the focus of the company despite their plans to extend their reach into other markets, with the hope to turn our country into the best mobile service provider in the world.
While it is sad that MyRepublic didn’t win after two years of intense campaigning, at least we can take solace in the fact that they will be flying the Singapore flag into the region as they give customers the same excellent service that Singaporean subscribers have experienced.