SYDNEY, AUSTRALIA: Tuas Limited (ASX:TUA) announced that, in the quantity stage of the 2.1 GHz spectrum auction conducted by the Singapore Infocomm Media Development Authority, TPG Singapore has been provisionally awarded 10 MHz (2 x paired 5 MHz lots) of spectrum in the 2.1 GHz band for a price of S$31m.
An assignment stage of the auction, which will determine the position of the lots within the spectrum band, remains to be completed.
The licence of the 2.1 GHz spectrum is 15 years in duration and requires the spectrum to be used for standalone 5G network services. TPG Singapore intends to move quickly to commence rolling out 5G equipment to make use of this spectrum.
Richard Tan, CEO of TPG Singapore said, “We are delighted that we were able to secure this important 5G band which is well supported by the global device ecosystem. Our customers can look forward to very competitively priced 5G services when we embark on our network upgrade, commencing in the first half of 2022.”