to the Board,
and review of significant risks and mitigating measures by the
Finance, Investment & Risk Committee (FIRC)* and Risk Management
Committee. During FY2012, the FIRC commissioned an external risk
consultant to review the Group’s risk management framework and
processes to ensure alignment with global best practice standards.
* The Risk Committee was established, and the FIRC was renamed the Finance and Investment Committee (FIC) in May 2012 |
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| Telecommunications access |
Telecommunications has become an essential part of society and Singtel strives to provide service access to all levels of the community. As a result, we offer a comprehensive range of plans and products to suit a variety of different needs and budgets.
Our success in this area is evident from the high uptake of mobile phone and Internet use in Singapore. As at 31 March 2012, Singapore had 7.79 million mobile customers, representing a penetration rate of 150.4% which is among the highest in the world. The fixed-line household penetration rate was 104.5%, while Residential Wired Broadband Household and Wireless Broadband Population penetration rates were 104.9% and 156.5% respectively.
Singtel is a Public Telecommunication Licensee and has to meet a range of obligations. This includes requirements to make a basic telephone service available to any person in Singapore who requests the provision of such a service, and to provide emergency call and public payphone services.
The telecommunications regulator in Singapore, the Infocomm Development Authority of Singapore (IDA), also requires Singtel to meet specific quality standards for certain services that we offer. IDA publishes regular performance reports on broadband, mobile and fixed telephone services offered by various operators in Singapore. These reports are found at www.ida.gov.sg. |
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| Responsible products and services |
Improving cybersafety and security is a key area that Singtel has
addressed in the last 12 months. With the increased concerns over
inappropriate content and access by young users, we have stepped up
our efforts to promote awareness on how parents could protect their
children on their home and mobile devices by keeping them safe from
exposure to inappropriate content, social networking risks, strangers
and other online threats.
Extending these services to mobile devices has been made possible through one of our mobile apps under the Family Protection plan. |
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| Risk management |
| The identification and management of risks reduce the uncertainty associated with the execution of our business strategies and allow the Group to maximise opportunities that may arise. Risks take on many forms and can have material impact on the Group’s ability to achieve our stated objectives, by potentially affecting Singtel’s reputation, operation, human resources and financial performance. Singtel operates within a robust risk management framework with a continuous process of risk identification, monitoring, management and reporting of risks throughout the organisation, providing assurance to the Board and relevant stakeholders. More information on the risk management process is found in our annual report (info.singtel.com/annualreport/2012/). |
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| Safety standards |
| Risks associated with electromagnetic energy are of particular interest to the telecommunications industry. A number of health concerns have been raised regarding the potential exposure to electromagnetic energy associated with the operation of mobile devices. While there is no substantiated evidence of public health risks from exposure to the levels of electromagnetic energy typically emitted from mobile devices, perceived health risks can be a concern for our customers and regulators. Our policy is to comply with regulatory and international safety standards such as the International Commission on Non-Ionising Radiation Protection (ICNIRP) Standards. We are fully aware and we monitor the latest available research to ensure customer safety. |
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