MyRepublic Is Exiting The Australian Broadband Market To Focus On Achieving Financial Success

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In a quest to become more profitable and focus on its home market of Singapore, the internet service provider has decided to move its broadband customers to Superloop before it exits Australia.

Myrepublic Broadband

MyRepublic has declared its departure from the Australian market as it seeks to reduce costs and achieve profitability. The company will transition all its users to Superloop in the next quarter.

On Saturday, the Singapore-based ISP released a statement announcing that its subscriber transfer agreement officially began on December 23 and included all residential and commercial customers connected to Australia’s national broadband network. Notably, this arrangement did not involve any of the company’s assets or liabilities being acquired by another party.

As part of its mission to prioritise profitability and liquidity, the ISP announced that it would be shifting its focus towards Broadband and Mobile services in Singapore. This move was expected to result in significant operational savings for the company.

“I love our Australian business…after much deliberation, however, we have decided to pivot towards a profitable business as we move into the next phase of our journey.” MyRepublic’s group CEO and co-founder Malcolm Rodrigues said.

Myrepublic telco

As we celebrated the company’s tenth anniversary this year, Rodrigues proclaimed in February that MyRepublic would be embarking on “a new path” to become the most successful digital telco in Singapore and throughout the region.

The ISP declared that its renewed business vision and operating model would be the foundation of a successful Initial Public Offering (IPO).

Last September, Singapore telco StarHub purchased a 50.1% share of MyRepublic’s local broadband business for an estimated $162.8 million, thus making the latter’s unit part of StarHub and increasing its portion of the Singapore broadband sector to 40%.

Despite its decision to exit the Australian market, MyRepublic has stated that it remains committed to providing innovative and affordable broadband services throughout the Asia Pacific. Its focus now lies on executing its vision of becoming a world-class digital telco in Singapore and beyond.

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