- February 15, 2022
- MyRepublic
Company on the launchpad to blast off into the next decade of continued growth, leveraging leadership, people, and brand
Singapore, 15 February 2022 – MyRepublic today outlined a new business vision and operating model that paves the way towards an initial public offering (IPO), as it celebrates its tenth anniversary and takes stock of its journey over the past decade.
The new MyRepublic, seasoned by a decade of growth and maturity, is propelled by twin growth engines accelerating at an exponential pace. Together, these twin engines launch MyRepublic towards limitless opportunities in a world of ubiquitous connectivity.
“From the very beginning, we built MyRepublic as a digital-first company. Over the past decade, we have reshaped the local telco landscape with our disruptive and agile approach to business,” said Mr Malcolm Rodrigues, Group Chief Executive Officer, MyRepublic. “Today, we stand at the dawn of a new MyRepublic — uniquely positioned to further transform the telecommunications sector across not just Asia Pacific, but the world.”
Twin engines of growth
As a group, MyRepublic is powered by twin engines of growth that are set to fuel its expansion from a local and regional upstart to global success.
The Service engine comprises the brand’s consumer and enterprise connectivity businesses, including its broadband and mobile units, and has grown at a CAGR of 26 percent over the past four years.
Over the past decade, MyRepublic has unlocked the potential of broadband connectivity in Singapore, achieving consistent year-on-year growth despite having the odds stacked against it in a highly competitive market.
Today, with more than 260,000 subscribers across three countries, MyRepublic is poised to deliver the same performance and growth across the world, thanks to its digital-first, proprietary operational model that can be replicated in any market.
The Platform engine is a telco-to-telco business that leverages next-generation digital technologies to bring MyRepublic’s cloud-based proprietary software based on open standards to telcos around the region.
In 2019, for example, Brunei’s largest mobile operator DST adopted MyRepublic’s playbook of operating as a digital-first telco, driving down costs and improving efficiency. MyRepublic’s customer-centric and innovation-minded approach also enabled DST to improve their sales, marketing, and operations processes.
The partnership between MyRepublic and DST represents a breakthrough for an industry with tightening margins. MyRepublic’s proven business model of exporting, scaling, and commercialising telco solutions and services now serves multiple customers across Asia Pacific.
Armed with this experience, a successful track record, and a year-on-year growth rate of 10%, MyRepublic’s Platform business is in a unique position to deliver on the promise of these digital solutions to any telco in the world.
“Our Platform business is one of our biggest growth drivers, and is a global opportunity unlike any other in the industry,” Malcolm said. “Our telco solutions, including our Business/Operation Support Systems software offering, future-proof the digital experience of our telco partners, transforming their operations and enabling them to bring more value-added services to their respective customers.”
Together, both the Service and Platform businesses feed into each other seamlessly to create a cycle of efficiency and synergy. As MyRepublic shifts its growth trajectory from a local and regional operator to one with a truly global scale, it will continue to drive best-in-class growth rates and margins.
Stewards of the next decade
MyRepublic also announced a leadership promotion to lead the company in executing its new strategy.
Yap Yong Teck has been promoted from Group Managing Director to the role of President, MyRepublic. In his new role, Yong Teck will oversee the overall business and operations of MyRepublic’s Service arm, including its international expansion efforts.
To further strengthen its diverse pool of talents, MyRepublic has also taken the bold step to reminage what “work” can mean in a post-pandemic world. Today, the company is operating based on a new values compass that expresses a workplace culture of trust, empowerment, and inclusiveness.
Employees have welcomed this new operating model with open arms, and the company as a whole has designated 2022 as the year of innovation and growth – where all employees stand united to take the company to new heights.
Iconic branding fuels growth
MyRepublic’s twin growth engines are driven by its brand, which underwent significant transformation over the past year.
In April 2021, MyRepublic refreshed its brand with a new look and voice to emphasise its simplicity, customer-centricity, and relatability. 97 percent of subscribers have indicated a preference for the new brand identity and its personable and down-to-earth tone.
Today, the company marks the final milestone of its brand refresh journey with a brand new logo that reflects the company’s decade-long journey of growth from a challenger brand to a mature industry leader, and signifies a generational shift within the organisation’s brand and culture.
“Our vision and ambition will fuel our growth to become the best-performing digital telco in Singapore and across the region. We have barely scratched the surface of the connectivity market in Asia Pacific. Our twin engines of growth is an exciting evolution of our business and it gives us a distinct advantage over our competition, especially our unique Platform solutions. We are confident that our new business strategy will drive us to boldly go where no other telco has gone before,” added Malcolm.
