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Southeast Asia's largest telecom operator, Singtel, has sold a 2.8% stake in Gulf Development, a Thai energy company, for approximately S$1 billion (around US$773 million).
The divestment signals a deliberate reallocation of capital away from legacy energy holdings toward the infrastructure powering artificial intelligence workloads and data centers.
A Calculated Exit From Energy The Gulf Development stake sale is not a distress move — it is a portfolio reshaping.
Singtel had held the position as a financial investment, and the decision to monetize it now, at a price that yields roughly S$1 billion, reflects a judgment that the returns available in AI and data center infrastructure outweigh continued exposure to Thai energy.
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