Australia's Tuas sinks to over 2-year low as Singapore body suspends key deal review

Keppel

18/05/2026 06:54

Updates shares

** Shares of Tuas TUA.AX plunge 62.3% to A$2.30, their lowest level since late November 2023

** Shares on track for worst day on record

** Singapore's telco regulator  suspends the review for a deal between Tuas unit Simba Telecom and Keppel's KPLM.SI M1

** Regulator says Simba may have been using radio frequency bands that it was not authorised to use

** Citi says TUA shares will be under pressure as suspension introduces uncertainty on earnings outlook

** The outcome and impact of IMDA's review will likely

be based on whether the unauthorised use of spectrum by Simba was due to a configuration-issue, was a recent occurrence or whether this was a deliberate action - Citi

** Stock down nearly 77% YTD, including movements in current session

 (Reporting by Jasmeen Ara Shaikh, Rajasik Mukherjee and Shruti Agarwal in Bengaluru)

 ((Jasmeenaraislam.Shaikh@thomsonreuters.com;))