StarHub LTD Annual Report 2016

Hubbing
at Your
Service
STARHUB LTD Annual Report 2016
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WE ARE Hubbers :)
HERE 24/7!
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Hubbing Corporate Profile
at Your
Service StarHub is Singapore’s
fully-integrated
In an increasingly competitive landscape, info-communications
StarHub remains committed to investing company, offering
in service innovation and excellence. a full range
By enhancing customer service initiatives of information,
across multiple touch points, including communications
digital, homes, offices and in-store, we and entertainment
continue to strengthen our value proposition services for both
through a seamless customer experience. consumer and
corporate markets.
Our ability to excel in service is a competitive
advantage for our business and differentiates Vision
our brand. It helps us attract and retain
customers from all market segments and also To be Singapore’s
serves to engage and motivate our people. first choice
From our customers, our employees, our for information,
business partners to our investors, StarHub communications
remains dedicated to serving your needs. and entertainment
services.
Mission
To provide every
person, home and
business in Singapore
with world-class
multimedia services
and content.
Core Values
ExCITe:
Excellence,
Creativity,
Integrity,
Teamwork.
View our
Report Online
2016 Annual Report

Go green and help reduce carbon footprints. Download via our StarHub Annual Report app.
Or visit www.starhub.com/ir
StarHub Ltd Annual Report 2016 1
What’s Inside
As an integrated
Overview
Overview
info-communications
Key Figures 02
company, we can create
The Group Today 03
value when we integrate
5-Year Financial Highlights 04
our relationships with
all stakeholders.
For more details, go to
Strategy
Strategy
page 20
Chairman’s Message 14
Enhancing the Customer Experience 18
Value Creation 20
Board of Directors 22
In Discussion with StarHub’s Management 28
Performance
Senior Management’s Profile 36
Governance
Mobility Entertainment & SmartLife Enterprise Fixed
Singapore’s mobile penetration Technology has brought Serving the enterprise
rate remains high and the opportunities for StarHub customer involves investments in
popularity of smart devices to deliver more seamless infrastructure, building trust and a
Sustainability
continues to drive mobile data experiences to our customers. focus on the customer’s business.
usage upwards. For more details, go to For more details, go to
For more details, go to page 44 page 50
page 40
Performance Financials Others
Financials
Hubbing in Review Financial Statements 2016 129 Interested Person
– Mobility 40 Directors’ Statement 130 Transactions 203
– Entertainment & SmartLife 44 Independent Auditors’ Report 140 Shareholding Information 204
– Enterprise Fixed 50 Statements of Notice of Annual
Financial Position 147 General Meeting 206
Income Statement 148 Corporate Information 210
Governance Statement of Proxy Form
Corporate Governance 54 Comprehensive Income 149
Directors’ Particulars 77 Statements of
Changes in Equity 150
Awards and Industry Honours 79
Consolidated Cash Flow
Investor Relations 80
Statement 154
Risk Management 82
Notes to the
Sustainability Financial Statements 155
Sustainability Report 86
Group Financial Review 124
2 Hubbing at Your Service
Key Figures
Dividend Cumulative Total Market Capitalisation

FY2016 Shareholders’ Return 2016
Since FY2005
+122% +108%
20¢
An increase from
394% $4.9b
An increase from
FY2005 of 9c 2004 of $2.3b
StarHub Share Price Performance Against STI Index

From 2006 – 2016
STI StarHub
(Points) ($)
STI STI
2,986 2,881
4,000 5
4
3,000
2,000
1,000 StarHub StarHub

2.63 2.81 1
0 0
Dec 2006 Dec 2016
The Group Today
The Group’s total revenue of $2.40 billion was 1.9% lower Mobile
Overview
YoY, attributed to lower revenues from sales of equipment
and services. Service revenue was 0.3% lower YoY. Broadband -2.0% YoY 2016
$1.21b
revenue recorded the highest revenue growth YoY at 8.2%. tiered plan
mix
From 2013’s $1.24b
CAGR: Tiered 68%

Mobile Pay TV Broadband -0.8% Non-tiered 32%
51% 16% 9%
Total Pay TV
Revenue Enterprise Sales of
Fixed Equipment -3.4% YoY 2016
17% 8%
$378m
channel
mix
* % may not add up due to rounding.

From 2013’s $386m
CAGR: HD 57%
-0.7% SD 43%
Broadband
+8.2% YoY 2016
$217m
high speed
plan mix
From 2013’s $242m
CAGR: > 100Mbps 93%

-3.6% < 100Mbps 7%
Enterprise Fixed
+3.9% YoY 2016
$400m
revenue
mix
From 2013’s $368m
CAGR: Data & Internet 87%

2.8% Voice 13%
5-Year Financial Highlights
Revenue Earnings EBITDA Margin

Per Share (EPS) on Service Revenue
-1.9% YoY -8.2% YoY -1.0% pts YoY
$2,397m 19.7¢ 31%
Total revenue was $47.6 million or Diluted EPS is calculated by dividing EBITDA amounted to $690.1 million or
1.9% lower YoY, attributed to lower the Group’s profit attributable to 31.2% of service revenue for FY2016.
revenues from sales of equipment equity holders by the weighted
and services. average number of ordinary shares*.
$m cents %
2012 2,434 2012 21.4 2012 33
2013 2,370 2013 22.0 2013 33
2014 2,387 2014 21.4 2014 34
2015 2,444 2015 21.4 2015 32
2016 2,397 2016 19.7 2016 31
* Excluding treasury shares.
Hubbing Households
Single Service Household Double Service Household Triple Service Household
+3.2% YoY -3.2% YoY -4.1% YoY

+10,000 -7,000 -10,000
‘000 ‘000 ‘000
2012 337 2012 232 2012 214
2013 327 2013 219 2013 227
2014 313 2014 219 2014 242
2015 312 2015 217 2015 245
2016 322 2016 210 2016 235

Overview
Revenue
$m
Mobile 2.31m
Customers
1,234 1,243 1,248 1,240 1,215
2012 2013 2014 2015 2016
Revenue
$m
Pay TV 498k
Households
396 386 390 391 378
2012 2013 2014 2015 2016
Revenue
$m
Broadband 473k
Customers
251 242 202 200 217
2012 2013 2014 2015 2016
Revenue
$m
Enterprise
Fixed
$400m
Revenue
358 368 378 385 400
2012 2013 2014 2015 2016

6 Hubbing at Your Service StarHub Ltd Annual Report 2016 7
We have a system that does

both sales and service. Now
sales interactions can be
executed anywhere on the shop
floor using tablet apps.
Chai Juan Wei
Senior Consultant
From
INSPIRING
To
INVOLVING
We have empowered our retail staff to provide personalised
offerings to our customers. With tools that combine service
delivery and sales into one seamless system, when any
customer walks into a store, we can understand their needs
better and faster. Moving closer to our customers through
tablet devices helps our people interact directly and increases
productivity at the same time.
AT YOUR SERVICE.
Over
270hrs Over
35
of Training
Our retail staff are
equipped with
more than product
knowledge, they are
also trained to ensure
end-to-end seamless
fulfillment capabilities.
Retail Outlets
We have an e-Butler tool

that fetches relevant
information from various
sources to enable us
to resolve customers’
concerns promptly
during the call.
Jen Hong
Process and
Communications Executive
From
INVOLVING To
ENGAGING
Engaging our customers means understanding both their
individual needs and their needs as a household. This enables
us to offer rewards to other members in their family. While we
continue to enhance our hotline services, we are also working
towards every StarHub employee being involved and being
responsive in engaging our customers.
AT YOUR CONVENIENCE.
Over
Call Centre handles over 520
11,000
Customer
Service Staff
Our call centres are
equipped with more
than just technical
calls everyday knowledge, they have

specialised tools to
address customers’
concerns promptly.
We aim to evolve along

with our customers’
lifestyle needs and offer
relevant services.
Elias Khan
Senior Analyst
From
ENGAGING To
SECURING
Today, our stores have a Hub Trooper consultation corner and
you can find our Hub Troopers in homes all over the nation.
This enables us to understand some of the issues our
customers face when, for instance, moving from their previous
home to their new fibre-connected home. We are able to
anticipate these kinds of issues and secure the trust and loyalty
of our customers.
DELIGHTING YOU.
Over
Seamless
Engagements
Our Hub Troopers are
equipped with tablets
which remove manual
work orders for
225
Hub Troopers
fulfillment. Post visits,
work orders are closed
in real-time so that
staff at other touch
on the move
points have visibility.
We are committed
to leveraging our scale
to derive greater
synergies and serve
our customers better. From
SECURING
Nicolas Bureau
eCommerce & Online Lead
To
DELIGHTING
The StarHub Business Partners community is an extended
sales force to provide better reach to our customers, including
the micro businesses in the heartlands. With more than 140
business partners, we are able to leverage on the wide network
to listen to customers’ feedback and serve them better.
AN EYE FOR DETAIL.

Improved
Over Net Promoter
140
Score
Combining our
partners’ diversified
skills and our wide
range of offerings,
we provide a
Business Partners complete set of
info-communications
technology solutions.
Chairman’s Message
We are undergoing
our own digital
transformation
which will enable
us to offer a wider
range of services
with improved
economics, and
engage with
customers in ways
that are more
meaningful to them.
Steven Terrell Clontz
Chairman
Service Revenue Mix
Mobile 55%
Pay TV 17%
FY2016
Broadband 10%
Enterprise Fixed 18%
We will stay focused on delivering reliable services, ensuring

competitive levels of network performance, and offering good value.
Dear Shareholders, Sustainability Reporting

Operating Revenue
StarHub celebrated its 16th anniversary Under proposed changes to SGX listing
$2.40b in 2016. Our 16-year journey has been

sometimes very challenging, but always
rules, companies are moving from voluntarily
reporting their sustainability performance,
Strategy
exciting. The pace of technological towards a more progressive ’comply or
changes impacting the industry continues explain’ basis. We are pleased to note
Net Profit to accelerate. Likewise, customers’ needs StarHub is an early adopter of voluntary
have changed dramatically over those years. sustainability reporting.
$341.4m Looking ahead, we do not see that rapid

pace of change letting up. As our industry
This is our sixth annual report that contains
an in-depth description of our environmental,
continues to adapt to the change, legacy social and governance performance.
networks and services will always face
new forms of competition. We take sustainability seriously, and are
proud to communicate our performance
The digital economy tends to not respect to all stakeholders, including customers,
traditional boundaries, and can deliver new employees, partners, regulators, suppliers,
services with a fraction of the investment and of course our shareholders.
that used to be required. Life cycles are
shorter, which in itself is a sobering matter StarHub has been recognised on the global
for companies like StarHub who must take stage for our sustainability performance. In
long-term views when investing in their 2016, we elevated our ranking on the annual
Recap networks. Indeed, almost every industry

and every company is being impacted.
Corporate Knights’ Global 100 list to the 8th
spot. This is a big leap from being ranked 66th
2016 At StarHub, we have always been quick to

in 2013. The list is a ranking of the world’s 100
most sustainable companies with a market
A summary of the progress embrace new technologies. In fact, we are value of US$2 billion and above.
and events in 2016. undergoing our own digital transformation
which will enable us to offer a wider range
Our management team of services with improved economics, and
is executing strategies engage with customers in ways that are
and operating plans more meaningful to them. This will allow
to meet challenges us to better compete with emerging
and exploit new non-traditional competitors. It also requires
opportunities.
us to re-think how we deploy our vast
page 28 network assets in a more efficient manner.
Service Revenue Contribution
With greater number But no matter what new technology arrives, $m
of apps, as more users we know how important it is to stay focused
share multi-media on certain fundamentals – delivering reliable 1,215
content, network services, ensuring competitive levels of Mobile
quality is key to 1,240
network performance, and offering good
customer satisfaction. value. This is why thousands of business
378
customers and millions of consumers have Pay TV
page 41 391
come to trust and rely on StarHub for their
In a market of many info-communications needs. 217
vendors serving Broadband
business customers, we 200
differentiate ourselves
by investing heavily in Enterprise 400
our own capabilities and Fixed 385
network infrastructure.
page 51 For the full year, service revenue was FY2016
0.3% lower YoY at $2,209 million. FY2015
Chairman’s Message
continued
Looking Ahead StarHub’s Broadband revenue has seen steady Although

Mobile service providers across the globe growth. We have held our ground against
the newer broadband players. We have also
running counter
are finding that more and more third party
smartphone applications are siphoning off successfully encouraged many customers to global trends,
segments of revenue that used to be enjoyed to sign on to higher speeds, fibre-based, Singapore will
only by mobile operators. Those third parties broadband services. soon see the
provide what is referred to as over-the-top entry of a new
services or OTT for short. The Hubbing strategy has served us well Mobile Network
for years. We have introduced multi-services
The faster speeds and reliable mobile data packs like HomeHub Go and more recently,
Operator in an
services provided by network operators SurfHub. We expect these Hubbing packs to already saturated
like StarHub provide an easy entry for OTT help increase loyalty to the StarHub brand and market.
players, who provide alternative messaging, in turn, reduce churn.
voice, and video services.
The Government has put in place the
Although running counter to global trends, necessary infrastructure and policies to build
Singapore will soon see the entry of a new capabilities and a supportive ecosystem for a
Mobile Network Operator in an already Smart Nation. With our extensive and diverse
saturated market. We are prepared. After communications infrastructure, expertise in
all, StarHub grew up in a highly competitive operating networks and willingness to work
market, and we will continue to work with like-minded partners, our Enterprise
diligently at earning our customers’ loyalty. division is expected to capture a fair share
of the opportunities.
In the Pay TV business, OTT players are also
making headway in video entertainment, For 16 years, StarHub has led with innovative
which is impacting traditional cable TV mobile offerings, brought a whole new world
providers. In addition, the industry faces of TV content beyond terrestrial broadcasting
growing threats from non-sanctioned TV into our households, and delivered fast and
boxes and websites streaming the latest reliable home internet access. Similarly, our
blockbuster movies and popular TV shows. business customers have relied on us for an
It is clear that the value of linear broadcasted ever-wider range of info-communications
TV content, offered over traditional networks, and IT-related services.
is not as valued as it once was.
Regardless of the challenges ahead,
As one example of how we are competing Tan Tong Hai and his management team,
with OTT providers, we have launched are executing strategies and operating plans
StarHub Go, which allows customers to to meet those challenges and exploit new
stream StarHub TV content on their mobile opportunities. We will continue to embrace
devices. We are also finding ways to lower our new technologies and adapt as needed,
content costs. StarHub continues to evaluate with a sharp focus to deliver on customers’
the commercial value of each content expectations, while managing and investing
offering and works to realign our packages the Group’s assets profitably.
and pricing in keeping with customers’ needs.
We are happy to report that we have made

progress with some content partners at
lowering costs aligned with market realities.
But we need more content providers to come
around to the new realities.
Mobile Pay TV Broadband
119k
MOBILE NET ADDS
57%
HD CHANNELS
34%
YOY GROWTH IN
Strategy
FIBRE CUSTOMERS
We are glad hundreds of thousands of We have held our ground against the newer
consumers turn to us to be entertained, broadband players.
informed, and to lead a ‘smarter’ lifestyle
that is constantly on the go and at home.
Enterprise Fixed
3.9% YoY
In line with growing demand for international bandwidth, we launched
services over the new Asia-Pacific Gateway (APG) submarine cable
We stay on top of network system.
improvements in REVENUE GROWTH
technology and have
started exploring how 5G
can be used to enrich our U N D E R S E A D ATA C A B L E S
customers’ lives.
Corporate Governance Mr Miller, a former investment banker, joined

In 2016, Mr Peter Seah Lim Huat, ST Telemedia in 2005. He is no stranger to
Mr Robert J. Sachs and Mr Sio Tat Hiang, StarHub, and has supported StarHub over the
retired from the Board. years in his role as a senior executive at ST
Telemedia. Further, Mr Miller has extensive
We are particularly grateful for their service international experience advising companies
and guidance through the transformational and boards in our industry. We look forward
merger with Singapore Cable Vision, and our to working with him as a new Director.
IPO, 12 years ago, as well as their excellent
counsel in strategy formulation throughout In January, we appointed new Chairpersons
the many dynamic developments in the for three committees. Mr Miller assumes
industry during their terms. Being highly Chair of the Risk Committee. Mr Teo Ek Tor,
practised at, and fully committed to, excellent an independent Director, is now Chair of
corporate governance, they have been the Executive Resource and Compensation
outstanding stewards of the Company. Committee. Ms Rachel Eng, an independent
Director, is now Chair of the Nominating
We have appointed a new non-executive Committee.
Director: Mr Stephen Geoffrey Miller,
President and CEO of our strategic I thank you for your support and look forward
shareholder, ST Telemedia. to seeing you at the upcoming Annual
General Meeting.
Steven Terrell Clontz

Chairman
Enhancing the
Customer Experience
What Consumers Want & How We Respond

Explore the future in Telecoms, Media and Technology. The StarHub brand is strong
around certain soft aspects. The aim is to take leading position in customer experience
across all service lines.
BENEFITS:
DATA ANALYTICS Responsiveness Pre-emptive
Business
1
INSIGHTS Designing the customer experience based
NO.
on scenarios and thinking through the
A strong, singular customer journey.
focus on the Anonymised on CSISG*
customer is a source Customers’ Data
of competitive Pay TV
USAGE AT
differentiation. DIFFERENT
SCENARIOS PROGRAMME LISTING
Pick from over
210 Channels
NO.
2
on CSISG* Scanning needs...
Mobile Services
High
usage
Low Regular CONNECTIVITY
Going for
usage usage
ANYWHERE
5G
Via Nokia’s AirScale
Demographics:
Age band, gender,
Personality:
Online profile, social
Customer service Customer experience
Thinking of the experience as end-to-end journeys.
integrated radio access residence, etc media profile, etc.

network, we tested Hassle-free
mobile speeds of a Application
whopping 4.3Gbps – Interests: Behaviours: Subscribe to any
ten times faster than Hobbies, life Media consumption, StarHub plan via
the 4G networks. stages, etc. e-commerce profile, etc. our Online Store at
your convenience.
Segments:
Macro view of Sales &
different parts Rewards
Now you can
BENEFITS: purchase phones
Lifestyle:
Brand Pay TV
A message from and redeem
StarHub >> Habits, trends, etc. rewards anytime, On Demand
anywhere. Allow customers
The cost of Hi User, to watch what
would you they want
engaging and like to
through different
media & methods.
retaining customers consider an
upgrade to
will reduce over meet your
time and is likely current needs?
to increase our
brand equity.
Strategy
BENEFITS:
SERVICE Transactional Episodal
Employees
2
EXPECTATIONS Measuring satisfaction by transactional
NO.
Net Promoter Score (NPS) to ‘Episodal’
HAVE RISEN NPS, cutting across different lines of Customer service
business/services. is built from the on CSISG*
We use the NPS closed loop framework to help gauge

ground up and
how we are doing across our touch points. In the near future, evolves the StarHub Broadband Services
we will be extending the measurement using different episodes
across a customer’s journey. culture from one
With up to
of happiness to
one that aligns the 1Gbps
needs of customers speeds
with employees.
NORMALISATION Personalisation + Differentiation

OF TECHNOLOGY Technology is not exclusive to any
provider. It is a commodity and does not
offer a source of differentiation.
How likely are you to recommend us to your friends?

Extremely Not Likely
Likely Likely at all
$8 Monthly
10 9 8 7 6 5 4 3 2 1 0 HomeHub
21Mbps Voucher
Up to 82
Mobile Channels
Broadband
Promoter Passive Detractor
Unlimited 1Gbps
Local Calls Fibre Home
1 Broadband
BENEFITS:
GB
24
Hours
Customers
In making StarHub a necessity
to customers through the service
experience, we are significantly
reducing the need to switch providers.
This delivers customers with a longer
tenure and with higher total value.
* Customer Satisfaction Index of Singapore (CSISG) 2016.
Value Creation
Assets
1
NETWORKS: Our significant and diligent investment in our
various networks lies at the core of what we are able to do as a
company. We upgrade our mobile networks to bring high speed
internet access wherever our customers are; we enhance our TV
and broadband networks so that families can enjoy quality time
together; and we lay down fibre so that businesses can function
WHAT
well in this digital economy.
DISTRIBUTION: We are now in an omni-channel environment.

Both online and physical points of contact complement one
another. Online may be preferred for some customers but we
WE ARE
believe our network of physical retail locations play a useful role
too. Besides our own shops, we continue to work with distribution
partners to help bring the StarHub brand and experience nearer to
our customers.
DOING
SUPPLIER RELATIONSHIP: Without our ranks of suppliers,
we cannot function as a business. They specialise in the
production of certain products or the provision of certain services
that we cannot do on our own. We work together so that our
customers get to enjoy this integration of resources and expertise.
PEOPLE: Our mobile networks may be the latest, our data

We thrive and grow when we service centres may be highly automated, but without our people,
services may still fall apart. Behind all these critical functions is an
our customers right, when we energised and passionate team of StarHubbers. We complement
complement our partners and when each other with our skills and experience; we believe we have a
we deal fairly with our suppliers. bigger stake in this company than anyone else.
As an integrated info-communications BRAND: For more than a decade, we have built up our track
company, we are in a good position record of offering our customers reliable and quality info-
to create value when we integrate our communications services. We are an impassioned organisation
relationships with all these parties. that is ever ready to serve with pride, encapsulated by the StarHub
brand. StarHubbers are always working harder to make it the
brand that everyone trusts.
Strategy
Customers Revenue
2
Customers are at the heart
3
The primary source of revenue
of what we do. They have comes mainly from our four
come to rely on us to provide lines of business. The Hubbing
them the ways and means to strategy, successfully executed
communicate, work, play and since 2002, continues to help
live. Our top priority remains drive revenues and total
doing everything we can to dividend payouts.
maintain uninterrupted and
reliable info-communications
services to millions of customers.
Capital Management Shareholder Value Reinvestment
4
We regularly review our
5
Over the years, we have
6
We reinvest to pursue
financial position, capital consistently delivered growth in a manner
structure and use of capital. shareholder value. Since 2005, that generates value for Customers are
We aim to achieve long-term we started paying quarterly both shareholders and at the heart of
capital efficiency, optimum dividends, which has steadily stakeholders. We target to set what we do. They
shareholders’ total returns, increased from a total of aside 13% of our revenue as
including the level of 9 cents then to the present capital expenditure, largely for
have come to rely
dividends and proper 20 cents per share for FY2016. the upgrades of our mobile, on us to provide
strategic positioning. We remain committed to TV and broadband networks, them the ways
upholding high standards of
corporate governance and
the expansion of our fibre
lines, as well as better data
and means to
applying constant and effective centres and other backend communicate,
risk management to enhance support and facilities. work, play and live.
shareholder value.
Board of Directors
The Board leads and guides the Management, and

provides overall strategic direction to the Group.
Steven Terrell Tan Tong Hai

Clontz Executive Director
Chairman and CEO
Member: S N Member: R
Date of Appointment Date of Appointment
8 December 1999 1 March 2013
and Chairman on
15 July 2015 Last Re-elected
19 April 2016
Last Re-elected
19 April 2016
Ma Kah Woh Nihal Vijaya

Independent Devadas
Director
Chairman: A
Kaviratne CBE
Independent
Member: R
Director
Date of Appointment Chairman: S
23 September 2015 Member: A
Last Re-elected Date of Appointment

19 April 2016 16 August 2004
Last Re-elected
19 April 2016
Rachel Eng Teo Ek Tor

Yaag Ngee Independent
Independent Director
Director Chairman: E
Chairman: N Member: N
Member: A
Date of Appointment
Date of Appointment 16 August 2004
4 May 2015 Last Re-elected
Last Re-elected 28 April 2015
19 April 2016
Strategy
Stephen Lim Ming Seong
Geoffrey Miller Non-Executive
Non-Executive Director
Director Member: A S E
Chairman: R
Date of Appointment
Member: S E
14 December 2000
Date of Appointment
Last Re-elected
1 January 2017
28 April 2015
Liu Chee Ming Nasser Marafih

Independent Non-Executive
Director Director
Member: S
Date of Appointment
Date of Appointment 9 July 2007
16 August 2004
Last Re-elected
Last Re-elected 19 April 2016
28 April 2015
Takeshi Kazami
Non-Executive
Director
Date of Appointment
13 April 2012
Last Re-elected
28 April 2015
Key to Membership of Board Committees

A S N E R
Audit Strategy Nominating Executive Resource Risk
and Compensation
Board of Directors
continued
Steven Terrell Clontz Tan Tong Hai

Chairman Executive Director and CEO
Mr Steven Terrell Clontz is Senior Executive Vice- Mr Tan Tong Hai joined StarHub in 2009 as its
President, International, at Singapore Technologies Chief Operating Officer, overseeing the day-to-
Telemedia Pte Ltd. He is also a Director of Level 3 day operations of StarHub. He has over 20 years of
Communications, PSA International Pte Ltd, Cloud9 experience in the regional information technology,
Technologies and STT GDC Pte. Ltd.. He served as Internet and e-commerce industries and has had
the CEO of StarHub for 11 years before retiring on broad experience at top management levels. Mr Tan
1 January 2010. Mr Clontz is a well-regarded veteran was previously the President and CEO of Singapore
in the telecommunications and media industry with Computer Systems from August 2005 to December
over 43 years of extensive experience. He brings with 2008, and the President and CEO of Pacific Internet
him invaluable knowledge of the telecoms and media (PacNet) from March 2001 to August 2005. He was
industry and extensive management expertise. During instrumental in turning both companies around
his 11 years at the helm of StarHub, Mr Clontz has led when he was at their helms. In addition, Mr Tan is
StarHub in a number of major milestones including currently the Chairman of Nanyang Polytechnic’s
the transformation of StarHub from being Singapore’s Board of Governors. He holds a Bachelor of
third mobile player in 2000 to a fully-integrated Electrical Engineering (Honours) from the National
“quad-play” service provider, merging StarHub with University of Singapore.
the then Singapore Cable Vision in 2002; bringing
StarHub public in 2004 on the Main Board of the
Singapore Exchange; and advancing StarHub’s market Ma Kah Woh
position to become Singapore’s second largest Independent Director
mobile operator in 2005. Mr Clontz began his career Mr Ma Kah Woh is a Director of Mapletree Investment
in the USA. From 1996 to 1998, he served as the Pte Ltd, Mapletree Greater China Commercial Trust
President and CEO of IPC Information Systems Inc., Management Ltd and PACC Offshore Services
based in New York. Prior to that, Mr Clontz has held Holdings Ltd. Mr Ma serves on the National Heritage
senior executive positions at BellSouth International, Board and is the Chairman of its Audit Committee.
Inc. He was the President of BellSouth International Mr Ma was a senior partner of KPMG Singapore,
(Asia-Pacific), Inc. between 1991 and 1994. Mr Clontz where he was in charge of the Audit & Risk Advisory
holds a Bachelor of Science (Physics Major) from the Practice and Risk Management function until his
University of North Carolina, USA. retirement in September 2003. Mr Ma is a Fellow of
the Institute of Chartered Accountants in England and
Wales, and a Member of the Singapore Institute of
Chartered Accountants.
Strategy
Nihal Vijaya Devadas Kaviratne CBE Rachel Eng Yaag Ngee
Independent Director Independent Director
Mr Nihal Vijaya Devadas Kaviratne CBE serves on Ms Rachel Eng Yaag Ngee is the Deputy Chairman at
the boards of DBS Bank Ltd, DBS Group Holdings WongPartnership LLP. Ms Eng is a corporate lawyer
Ltd and Olam International Limited in Singapore and with vast experience and expertise in equity and debt
GlaxoSmithKline Pharmaceuticals Limited in India. capital markets, real estate investment trusts and
He is the Chairman of Caraway Pte. Ltd., a subsidiary corporate finance. She serves on the Board of Olam
of Olam International Limited. Mr Kaviratne held International Limited, SPH Reit Management Pte. Ltd.,
various senior level management positions in the Certis CISCO Security Pte. Ltd. and the Public Utilities
Unilever group across Asia, Europe and Latin America Board. She also sits on the Board of Trustees of
over forty years. Mr Kaviratne was cited in the Singapore Institute of Technology and Council of the
Queen’s 2004 New Year Honours List in the UK and Singapore Business Federation. She was a member of
was awarded the CBE (Commander of the Order of the Committee on the Future Economy (CFE) Steering
British Empire) for services to UK business interests in Committee, Ministry of Trade & Industry. Ms Eng
Indonesia. He was chosen by Business Week in 2002 holds a Bachelor of Law (Honours) from the National
for the Stars of Asia Award as one of the “25 leaders University of Singapore.
at the forefront of change”. Mr Kaviratne holds a
Bachelor of Arts (Honours) with a major in Economics
from Bombay University, India and has attended Teo Ek Tor
Independent Director
various management development programmes
in India, Australia, the UK and the USA, including Mr Teo Ek Tor is the Chairman of PrimePartners Group
the Advanced Executive Programme conducted Pte Ltd and Aris PrimePartners Asset Management
by Kellogg School of Management, Northwestern Pte Ltd, a joint venture asset management company
University and the Advanced Management Program based in Singapore. Mr Teo has vast experience in
at the Harvard Business School, USA. investment banking, asset management and financial
services in Asia, and brings with him in-depth
financial and analytical expertise. He had contributed
to, and been instrumental in the development of
two major regional investment banking groups –
Morgan Grenfell Asia (1980-1993) and BNP Prime
Peregrine (1997-1999). Mr Teo held senior executive
positions within the Morgan Grenfell Asia group and
was the Regional Managing Director of BNP Prime
Peregrine (Singapore) Ltd. He holds a Bachelor of Arts
(Honours), with a major in Business Administration,
from the University of Western Ontario, Canada.
Board of Directors
continued
Stephen Geoffrey Miller Liu Chee Ming

Non-Executive Director Independent Director
Mr Stephen Miller is the President & Chief Executive Mr Liu Chee Ming is the Managing Director of
Officer of Singapore Technologies Telemedia Pte Platinum Holdings Company Limited since 1996.
Ltd (ST Telemedia). Mr Miller joined ST Telemedia Mr Liu also serves on the board of Haitong Securities
in 2005 and has held various senior positions Co., Ltd. He is also an Independent Non-executive
including President & Chief Operating Officer and Director of OUE Hospitality REIT Management
Chief Financial Officer. He was Consultant to ST Pte. Ltd. and OUE Hospitality Trust Management
Telemedia, primarily for its portfolio companies. He Pte. Ltd., which are the REIT Manager and Trustee-
played a crucial role in enhancing ST Telemedia’s Manager respectively of OUE Hospitality Trust
business competitiveness and asset portfolio while and STT GDC Pte. Ltd.. He is also an Independent
simultaneously maintaining prudent financial Supervisor of the Supervisory Committee of Dalian
management. Prior to joining ST Telemedia, Mr Miller Wanda Commercial Properties Co., Ltd. He has
was Financial Advisor to the company on the merger over 30 years of experience within the financial
of its data centre business with Equinix and Pihana services sector and has an invaluable network of
Pacific, creating one of the world’s largest carrier- contacts in the media industry. Mr Liu’s financial and
neutral data centre network. Mr Miller has more than strategic expertise and experience of dealing with
25 years of global investment, financial management, major corporations and businesses globally is an
strategic planning and CMT industry experience. asset to the Board. He is a member of the Takeovers
He spent over 14 years of his career in investment Appeal Committee and Deputy Chairman of the
banking with Credit Suisse, primarily heading its Takeovers and Mergers Panel of the Securities and
telecommunications and media group throughout Futures Commission in Hong Kong. Mr Liu holds a
Asia and the Pacific. Mr Miller holds a Bachelor’s Bachelor of Business Administration from the former
Degree in Commerce, with First Class Honours in University of Singapore.
Economics and Finance, from the University of New
South Wales, Australia.
Lim Ming Seong

Non-Executive Director
Mr Lim Ming Seong is the Chairman of CSE Global
Limited and First Resources Ltd and serves on the
boards of U Mobile Sdn Bhd and STT GDC Pte. Ltd..
Mr Lim was with the ST group from 1986 to 2002,
where he left as Group Director. Prior to joining the
ST group, Mr Lim served as the Deputy Secretary
with the Ministry of Defence of Singapore. Mr Lim
brings with him extensive accounting, management
and technical expertise. He holds a Bachelor of
Applied Science (Honours) with a major in Mechanical
Engineering from the University of Toronto and a
Diploma in Business Administration from the former
University of Singapore. Mr Lim also participated in
the Advanced Management Programs conducted by
INSEAD and the Harvard Business School, USA.
Strategy
Nasser Marafih Takeshi Kazami
Non-Executive Director Non-Executive Director
Dr Nasser Marafih is a Member of the Ooredoo Group Mr Takeshi Kazami is the President and CEO of NTT
Board and Advisor to the Ooredoo Group Board’s Singapore Pte. Ltd., the regional headquarters of
Chairman. He was the CEO of Ooredoo Group from NTT Communications Ltd for the Asia Pacific region.
2006 until November 2015. He also served as CEO He also serves as a director of Emerio GlobeSoft
of Ooredoo Qatar from 2002 to 2011, a subsidiary Pte Ltd. He started his career with NTT in 1986 and
of Ooredoo Q.S.C. Dr Nasser began his professional held various positions, including Area Manager –
career at Ooredoo Qatar (then known as Qatar NTT America. He was seconded to StarHub, as
Telecom) in 1992 as an expert advisor from the Head of Japanese Sales Sector in 2000. He went
University of Qatar, and later joined Ooredoo Qatar as on to become the Head of Arcstar, the flagship
the Director of Strategic Planning and Development. brand of NTT Communications Ltd’s range of global
He was instrumental in many strategic initiatives and communication services. Upon his return to NTT
landmarks in Ooredoo Qatar’s history, including the Communications Ltd in 2005 and after serving as
introduction of the first GSM service in the Middle East Director, Corporate Sales, he was appointed to his
in 1994 and thereafter, the Internet service in Qatar current position in July 2010. He holds a Bachelor
in 1996, and the privatisation of Ooredoo Qatar in of Arts, International Relation Course (Chinese and
1998. Under Dr Nasser’s leadership, Ooredoo Qatar Sociology), from the Tokyo University of Foreign
has evolved from being a local telecom provider to Studies, Japan. He was a visiting scholar at the Asia
an international player, with strategic investments in Pacific Research Center of Stanford University, USA.
the Asia Pacific region. Dr Nasser holds a Bachelor of
Science in Electrical Engineering, a Master of Science
and a PhD in Communication Engineering from the
George Washington University, USA.
In Discussion with
StarHub’s Management
Tan Tong Hai

CEO
Q Can we have a brief recap

of the key events for StarHub
in 2016?
We have embarked on a journey towards a customer-
Strategy
centric model in servicing both our consumer
and enterprise customers with segment-specific
propositions and product innovations. With this focus on
customer-centricity, we aim to deliver the best customer
experience and believe this will be a key sustainable
differentiator that will set us apart from the competition.
We continued on our digital transformation drive to

increasingly engage and service our customers via digital
channels and self-help applications. Resources have been
invested to integrate all customer-facing channels to enable a
holistic omni-channel engagement and empower our agents
with technology tools to enhance customer interactions.
To improve our digital engagement with customers, we

made enhancements to our social community management,
My StarHub app and StarHub Online Store. We are also driving
increased sales through digital channels and automation of
backend support processes to achieve cost optimisation.
Customer insights are a key differentiator in driving operational

efficiency, enhancing customer engagement and developing
segment propositions. We are further strengthening our
SmartHub analytics capabilities to position ourselves as a
leading Digital Insights provider for the government and
commercial verticals.
In the consumer space, we continued to drive ‘Personalised

Hubbing’ to develop one-to-one relationships with customers
through deeper insights, personalised engagement and micro-
segmentation in our service offerings. For enterprises, we
focused on enabling them to innovate and improve efficiency
through adoption of smart solutions and also help them serve
Customers demand high and target their customers better.
service standards; we demand The StarHub Cyber Security Centre of Excellence (COE)
higher standards on ourselves. was formally launched in May 2016. It is a platform for us
With Hubbing, we bring value; to innovate and create telco-centric cyber security services
with superior customer service, that are integrated with our core infrastructure. This further
we bring satisfaction. enhances our position as the Trusted Provider with security as
paramount in all services we provide.
Senior Management
In the year, we continued to build strategic partnerships with
like-minded companies such as China Mobile and Singapore
Press Holdings (SPH), and renewed our existing arrangement
Seated from left: with Vodafone. These partnerships will enable us to build on
Diana Lee, Tan Tong Hai, Dennis Chia and Kevin Lim one another’s strengths with the aim of exploring new revenue
Standing from left: For more details on Senior Management’s Profile, go to streams and innovative business models.
Chan Hoi San, Tim Goodchild, Mock Pak Lum, Jeannie Ong, Howie Lau, Veronica Lai and John Tan page 36
In Discussion with StarHub’s Management

continued
Mobility mm2 Asia can also potentially extend the reach of our localised
Mobility continues to be the largest contributor of revenue content through their marketing and distribution efforts beyond
to our business. We registered growth of our total mobile Singapore shores. In addition, we may tap on their cineplex
subscriber base to 2.3 million in the year. Higher subscription business to showcase our content.
revenue from a larger customer base was dampened by the
global trend of declining voice, IDD and roaming usages. We recognise that organic growth is limited on this island
nation, so we are looking globally for adjacent businesses to
We remain focused on introducing innovative and better value complement our core business and help us grow. Dennis, our
packages to our customers. We launched DataTravel, which CFO, who brings extensive M&A experience with him, is tasked
offers customers the best possible mobile data experience with this job.
on their travels as it is operator-neutral and comes at an
affordable flat fee.
We also stayed rooted in our Hubbing strategy by launching

SurfHub, a mobile and fixed broadband service bundle that
connects our millennial customers in and out of home and
allow them to enjoy data-intensive services and entertainment
on the go. Dennis Chia
CFO
Entertainment & SmartLife
On the pay TV front, we have seen a major shift in the viewing
habits of our customers. We are facing growing challenges
from increasing availability of OTT video streaming options
Q How does the Board decide on
the dividend payout amounts
for FY2017?
and alternative pirated content sources. The Board takes a forward three-year view of our
earnings, free cash flow, growth prospects, investment
We partnered Netflix to support their content on our Fibre needs and an optimal balance sheet. The appropriate
TV set-top boxes and continued to strengthen our line-up level of dividend payment is determined by the combination of
of locally produced content and self-packaged channels to these factors. Their preference is to make sustainable payments.
distinguish ourselves from the competition. We are also using
data analytics to understand customers’ viewing preferences For FY2017, the Board has recommended to pay four cents per
to optimise our content lineup across multiple platforms to quarter per ordinary share.
deliver a superior TV viewing experience.
For our broadband business, we continued to see good take-

up of our fibre offerings, with an increase in our total fibre
broadband customer base to 363,000. We also recorded 8.2%
Q Why have you guided a lower EBITDA
margin for FY2017?
We are guiding a lower EBITDA margin because of a few
growth in our Broadband service revenue, driven by a higher
factors. We expect the Nationwide Broadband Network
mix of customers on fibre and higher speed plans.
(NBN) adoption grant to fall off in 2017. We also see
an exchange rate impact of the US dollar, primarily on US
Enterprise Fixed
dollar expenses, and lastly, we continue to invest in customer
We saw steady growth in our Enterprise Fixed revenue to
excellence. We believe we need to continue to deliver the best
$400 million as we build leadership in selected verticals and
service to our customers.
further enhance our enterprise solution portfolio in areas such
as cloud, cyber security, data analytics and enterprise mobility.
We have also made investments to expand our own fibre

network to extend our reach to enterprise customers. With
Singapore’s Smart Nation initiatives and growing interests in
Q The acquisition of a stake in mm2 Asia
– is it a new strategic direction?
We acquired an 8.8% stake in Catalist-listed regional
Internet of Things (IoT) in the enterprise space, we are well- production house mm2 Asia Ltd for $18.04 million in
positioned to support these new services with our SmartHub June 2016. We already have a fruitful track record of
analytics capabilities and smart connected solutions. working together since 2011. We believe this deal will help
improve our pay TV offerings with more local content.
Inorganic Growth
In June, we completed the purchase of a stake in mm2 Asia With programmes that they produced from travelogues to
Ltd. This will unlock opportunities to expand our pay TV children infotainment to hit movies like Ah Boys To Men,
offerings through original content creation and set us apart in we expect to dive deeper into local production and use it to
the content space. differentiate ourselves from the competition.
We recognise that organic growth is limited and that we need Growth has not been without challenges as core products
to be more agile in capturing new business opportunities. become commoditised and products that once commanded
We are actively exploring possible deals that are relevant and healthy margins are now contributing less. The need to grow in
helpful to our existing businesses. For instance, start-ups new areas is talked about by all businesses.
specialising in cyber security or data analytics. The world of IT
and telecommunications is meshed tightly and we believe our The most important components in the strategy is about adding
existing customers will benefit greatly if we have significant, value and building a sound foundation for long term viability.
adjacent capabilities in this field to offer. We aim to help our customers to generate business by focusing
Strategy
on the creation of an intelligent eco-system for them.
Q What are some key enterprise offerings you

have for the market?
Our enterprise customers operate in an environment
with greater IT complexities and we need to respond
by providing them with more capabilities. Over the past
Kevin Lim year, we have made big moves in cyber security. We all wish
CCO the Internet is a simpler place but cyber threats are real and we
believe that security is of upmost importance.
Q We have seen revenue growth

for your Enterprise Fixed business
over the years. What are you doing
Cyber security is getting growing recognition from the server
room to the boardroom, as something that undermines the very
to help accelerate the growth? core of business organisations. This will complement the suite
Serving the enterprise customer involves a number of of security services we already offer.
key pillars: investments in infrastructure, building trust
of customers and a focus on the customer’s business. We are also of the view that businesses need to be ‘smart’ to
While StarHub had an infrastructure, it was purpose-built for the be effective and this is aided as Singapore pushes towards a
consumer customer. The business customer requires a much Smart Nation. IoT is all about collecting more data that gives you
higher quality of connectivity, reliability and redundancy. more insights into operations, behaviour, etc. The connected
elements generate a trove of traffic pattern data, which can be
In the past six over years, we have been digging trenches and analysed and applied in areas like urban commute and logistics.
rolling out our own fibre network to serve as a backbone and
also as a separate access network to commercial buildings. Again working with partners, we are exploring solutions that
This has also allowed us to provide many companies with true optimise resource allocation such as rubbish-compacting
redundancy as we offer both operator and path diversity. The smart bins along Orchard Road. Our 4G mobile networks
NBN will continue to be used to serve residential customers provide wireless connectivity for the smart bins, whereby
and small & medium businesses (SMBs) who may not require real-time information is transmitted from the bins to the
enterprise grade connectivity and availability. waste management monitoring system for greater
operation efficiency.
Trust in the enterprise space is critical as businesses rely on
our services to conduct business and serve their customers. With the government lending its full support, there will be plenty
When we fail, they fail. To win their trust, we have invested in of opportunities for enterprises, start-ups and various other
quality programmes that cover technical, delivery and support application developers to come together and build attractive IoT
assurance standards. We remain committed to delivering a high business cases, underpinned by a level of inter-connectedness
level of account support, service delivery and network resiliency. never seen before.
Understanding what our enterprise customers need to run As an integrated info-communications provider, we will have
their businesses efficiently, the business challenges and desired a seat at the table. Our key advantage lies in our experience
outcomes, will help shape our products and solutions, and delivering an integrated suite of services, as well as our
provide us with an appreciation of the outcome desired and the appetite to work harder and deliver more value and provide
criticality of the services. better service.
On this front, we have invested in data analytics starting with

our telco data and have leveraged this to help customers gain
insights into their customers and operating environment, to
make better decisions and serve their own customers better.

continued
Jeannie Ong Mock Pak Lum

CSPO CTO
Q What were some of the key

highlights under your portfolio
during the year?
Q In January 2017,
you announced an MOU with
M1 to share mobile network
We started 2016 with a loud cheer, as our efforts
infrastructure. Can you tell us
towards going green gained better recognition. In the
more about this?
2016 Corporate Knight’s Global 100 ranking of the Sharing infrastructure with M1 is not new to us.
world’s most sustainable companies with market value of at For some time now, we already share certain non-core
least US$2 billion, we were ranked eighth. This marked a big mobile infrastructure with M1 in a number of locations,
jump from the 66th position we first achieved in the same including tunnels, MRT stations, and in-building areas.
ranking in 2013.
With the MOU, both companies will start studying potential
Our eighth place in 2016 makes us the most sustainable further collaboration in sharing Radio Access Networks (RAN)
company in Singapore, ahead of three other Singaporean and backhaul infrastructure. We will still manage our own core
companies with both longer history and market value than us. network and brand, and we will continue to compete with
Our score of 71.8% also made us the world’s most sustainable M1 in the mobile market.
telecommunications company.
This sharing is to improve our mobile coverage for customers,
In March, we signed an Memorandum of Understanding manage our costs, and compete effectively in the longer-
(MOU) with local media giant SPH. We each have our own term. This sharing could help us bring the Singapore info-
unique reach and content. However, we see much more communications industry to the next level, competing not
benefits for our respective customers and partners if we come on pure infrastructure ownership, but at a higher level of
together. Under terms of the MOU, we will be working jointly customer service and innovative value creation.
on content creation, distribution, marketing, data analytics and
advertising sales. There is still considerable work to be done before a definitive
agreement with M1 may be reached.
The same month also saw us signed an MOU with China
Mobile International Limited to collaborate under the
Hand-in-Hand program led by China Mobile. Five broad areas
to strengthen complementary capabilities for data business
services and to co-develop new business opportunities in
relation to innovation and IoT are covered under this MOU.
Q How is StarHub gearing up its network
infrastructures for what is coming ahead?
We continue to work closely with our trusted
technology partners, to find out what new solutions we
We are also a regular name in our local sports scene. For can implement to deliver the optimal network coverage.
example, we won the deal from Football Association of Mobile network access speeds are accelerating in tandem with
Singapore as official broadcaster for local franchise, the Great better technology.
Eastern Yeo’s S.League. We also inked a four-year deal with the
HSBC World Rugby Singapore Sevens as an official broadcaster. In February, we attained OpenSignal’s ‘fastest LTE networks
in the world’ title for the second consecutive quarter. This is
Our partnership with Hong Kong broadcaster TVB simply an independent study by OpenSignal using crowd sourcing
gets better with age. In 2016, for the seventh year running, technology. In April, with Huawei, we did a live showcase
we have co-organised the StarHub TVB Awards 2016. of the world’s fastest indoor coverage of 1Gbps. This was
The glitzy ceremony held at Marina Bay Sands, is not just an achieved using just one of Huawei’s award-winning small cell
awards ceremony celebrating the best of Hong Kong acting base stations, not much bigger than a ream of A4-size paper.
and production talent, it is also a chance for their fans here to
get close to their idols. In July, with Nokia, we achieved an upload speed of 150Mbps
– three times the previous peak over a typical 4G network
in use. This was done using Nokia’s technology that bonds
together different spectrum across different bands that are not
Our eighth place in contiguous. It was deployed for the year-end festive season at
2016 makes us the the popular Marina Bay and Orchard Road areas, and will be
most sustainable gradually expanded across the island in 2017.
company in Singapore.
We continue to enhance our fixed network infrastructure to
be the true alternative fibre provider. One contributing factor
With the MOU, Howie Lau

CMO
both companies
will start studying
potential further
collaboration
Q ‘Hubbing at your service’
is the theme for this year’s
annual report, how do you
plan to execute it?
in sharing RAN
We serve different types of customers but they have
and backhaul
Strategy
a common need: to communicate and to connect
infrastructure. whenever, wherever. We view delivering a good
customer service experience as the foundation of everything
we offer our customers.
In this light, we leverage on our collective experience and

strong data analytics to understand what our customers would
require and expect of us. This allows us to have timely and
relevant recommendations for our customers so that we can
for us to be recognised as the fastest LTE network in the be more pre-emptive and responsive.
world was because of our own fibre backhaul. In 2016, we
completed our roll out to all government agencies using the “Hubbing at your service” represents our desire to constantly
NGN as primary and our fibre as secondary circuits. We aim to innovate our strong hubbing offerings as well as to provide
have our own nationwide fibre network by 2020. quality customer service experience at every interaction and
touch point.
In June, the STT MediaHub building was completed and ready
to be moved in. The building will house our TV head-end, As we emphasise more on customer experience, we are
production facilities and innovation labs. The migration from refining the way we use our NPS, an international measure
the existing facility will be completed by mid-2017 and we will for customer satisfaction. It will shift from one that is merely a
have state-of-the-art facilities to support our TV business and ‘transactional’ NPS to one that is an ‘episodal’ NPS. Simply put,
innovation activities. we will work towards recognising and anticipating customers’
needs in order to serve customers better.
Two years ago, we started studying the virtualisation of
network functions. We have migrated many of our network StarHub’s brand is already well recognised in Singapore but we
infrastructure onto virtualised platform. One reason we were can do even better. We plan to build a stronger, more positive
able to recover quickly from the Distributed Denial-Of-Service brand experience for our customers. Perhaps our satisfied
attacks in October was because we were able to provision customers would in turn share their delight with their friends.
additional Domain Name System capacity using virtualised We look forward to welcoming more customers on this
environments. journey together.
We will continue to virtualise our network infrastructure which

will have a positive impact on our CAPEX, OPEX and improve
our nimbleness to respond to customers’ requirements.
It is inevitable that service providers’ networks will come under

more and more cyber attacks. The question is how quickly
we can respond and recover, and how we can protect our
customers’ data. We have learnt from these attacks and will
work with our vendors and our customers to build a more
resilient network.
We are
In May, we launched our Cyber Security COE providing one of the
telco-centric cyber security monitoring services to our
enterprise and government customers. This is a foundation
well-recognised
for more cyber security offerings in the future. We strive brands in Singapore
to operate a secured network where our consumer and but we can do
enterprise customers can explore digital services and even better.
transform their business with peace of mind that their
data is secured and their networks are free from malware.

continued
Q More and more customers are engaging

StarHub via social media platforms. Can
you tell us about the challenges here?
We have built
a social media
and digital
Singaporeans use social media platforms to engage analytics
with brands and we have leveraged this to understand hub within
and support our customers better. The level of activity
in this space has more than tripled over the past year. We are
StarHub called
all thriving in this new way of communication that is open, ‘Curiosity’.
direct, and real-time.
To better engage our customers via social media, we have

expanded our dedicated team. We have also streamlined the
processes and made them more efficient, so that we can be
nimbler in responding effectively.
We have also leveraged more on social media to reach out to

customers in our marketing campaigns. As with all marketing,
it is a combination of art and science. It brings together the
creative art of suitable messages, and the quantifiable science
of using data and technology effectively.
Q The pay TV business is under some
pressure. What is being done to improve
the business?
The pay TV business remains a key pillar for us as we
We have tapped on the expertise of various leading technology
believe that most customers still value the quality
partners to help us build a social media and digital analytics
content that we have been providing as part of our
hub within StarHub – we call this new hub ‘Curiosity’.
Hubbing proposition. Besides seamless connectivity, we
believe that having great media content is a staple in the
Curiosity allows us to collate and understand the customer
Singaporean diet as well.
engagements, conversations and sentiments across digital/
social media platforms. These serve as valuable inputs for
As the leading pay TV provider in Singapore, we will continue
our product design, marketing campaign development
to improve our content and modes of views as our customer
and customer service improvements. We are also adapting
consumption behaviour changes. We have constantly
best practices from top-tier global brands on social media
enhanced our content offerings as well as to offer alternative
engagements.
modes of watching content like StarHub Go where customers
can watch their favourite contents on their mobile devices.
With our investments committed in building up our social
StarHub post-paid customers would further benefit as data
monitoring and analytical capabilities, we plan to extend
usage from StarHub Go viewing would not be chargeable.
offering these competencies to our enterprise customers
too. Most organisations understand the importance of social
To differentiate our TV offerings, we have gone beyond the
media engagements, but they might not have the scale or data
typical US brands and we have been adding even more Asian
to build their own infrastructure. We would offer this social
content as Chinese and Korean content are just as popular.
monitoring and analytical service as part of our overall service
We have also been increasing our local content output.
offering to our enterprise customers.
Working with Infocomm Media Development Authority
(IMDA), we have commissioned and produced a variety
of programmes ranging from travelogues to children
infotainment to sports documentaries. We are looking to
commission about 110 hours of original productions.
Over the past year, we have introduced a new TV package,

dubbed the ‘Connoisseur Pack’, and added new brand name
channels with unquestionable appeal, such as BBC First and
DreamWorks. We have teamed up with Netflix to help show
their library over our pay TV platform.
Besides expanding the variety of content, we are also expanding

into new ways of distributing content. We brought in a new
pay-per-view channel, the CATCHPLAY Single Rental Service,
which comes with its sister channel CATCHPLAY Unlimited.
Diana Lee With our omni-channel focus, we are constantly refining the
Senior Vice President, Customer Service Experience ‘how’ and ‘when’ of interacting with customers. Sometimes,
all they need is to complete simple transactions which can be
Q How does StarHub approach

‘customer experience’?
At the strategic level, we have identified high levels
done over a mobile application – My StarHub.
The app has seen constant improvements over the years and
of customer service as a key competitive advantage. its latest enhancement in late 2016 aims to make everything
Our journey to improve the frontline service experience effortless for our customers. They can pay bills, check data,
Strategy
is well underway. We are making sure we have a holistic book e-appointments, redeem rewards and activate roaming
perspective of people, processes and tools to enable with just a few taps.
our frontliners to serve consistently, intentionally and
pre-emptively for our different segments of customers. At times, they might be surfing our website at their leisure. We
have made it possible for customers to sign up for our services
Since 2013, we have been using the NPS closed loop through our Online Store or to manage their accounts easily
framework to help gauge how we are doing. In the near future, via a feature-rich My Account Manager.
instead of measuring single transactions, we will be extending
the measurement using different episodes across Customers can purchase services online for fulfillment at our
a customer’s journey. retail store through our click and collect option and this was
piloted successfully in late 2016. Or, they may simply make an
By having a bigger picture of the customer’s journey, we e-appointment to visit our retail store for a more personalised
can better identify the pain points and take pre-emptive and friendly interaction with our retail staff.
measures. Instead of only managing downsides, we can
ride the upside as well. With data and insights across our Now, even with such improvements made, we are looking even
customer segments, we can delight our customers where harder where we can serve our customers better. Instead of
and when they least expect. having them describe their technical issues with their set-top
boxes over the phone, in the near future, they can take pictures
The exercise began from within. We spent time providing and send them over, so that there is less guesswork and better,
the necessary training, equipping, through automation faster understanding of how the problems can be solved.
and simplification of tasks to ensure end-to-end seamless
fulfillment capabilities so that everyone, from our retail to our We are also tapping into artificial intelligence by introducing
contact centre staff and our Hub Troopers, will know and are ‘chat bots’. Essentially interactive software, these chat bots
able to engage with our customers meaningfully. can be used for a certain level of engagement with customers
when they visit our website.
In late 2013, we merged the retail and customer service stores
as one. This helps streamline customer interactions at our
retail stores which also underwent a visual revamp to ease
customer traffic and flows. We trained our retail staff to handle
both sales and service interactions without handing off to
another party.
At the contact centre, we introduced guided workflows

via an e-Butler tool to facilitate our staff’s interactions with
customers. This tool also fetched relevant information from
various sources to enable our staff to resolve customers’ In the near
concerns promptly during the call interaction.
future, instead of
Additionally, we sharpened the image and professionalism measuring single
of our field Hub Troopers when they visit customers’ home transactions, we
for installations or service calls. will be extending
the measurement
Post visits, work orders are closed in real-time so that staff
at other touch points, had visibility. We also installed an elite
using different
team of in-store Hub Troopers, to offer advice and solutions episodes across
for customers wishing to buy services on the fibre platform. a customer’s
journey.
Senior Management’s Profile
Tan Tong Hai Dennis Chia Kevin Lim

CEO Chief Financial Officer (CFO) Chief Commercial Officer (CCO)
(Tong Hai’s profile can be found Dennis oversees StarHub’s financial health, Kevin is responsible for the commercial
on page 24 of this report.)
develops key business strategies together strategy and development of the company,
with the core leadership team, ensures that aligning customer needs and customer
business decisions are financially sound, interface with product and service offerings
and executes strategies through financial to meet the company’s commercial
management. objectives. His role is closely linked to the
company’s strategic management function,
Dennis was the Senior VP and CFO of in drafting, implementing and evaluating
STATS ChipPAC (Worldwide). Prior to that, cross-functional decisions that will enable
he was with Lear Corporation as its VP the company to achieve its long-term
of Finance, Asia Pacific Operations, where objectives.
he oversaw 400 regional finance staff in
30 manufacturing and administrative The Commercial Group includes Enterprise
locations across Asia. Previously, he was Business, which services the needs of
the CFO of Behringer Corporation and businesses; the International Business
Frontline Technologies Corporation, team which is responsible for international
leading their successful listings on the product management, carrier sales,
Singapore Exchange. inter-carrier agreements and international
network strategy and execution.
Dennis, a Chartered Accountant,
has a Bachelor’s (Honours) degree in Kevin’s experience spans over 30 years in
Accountancy from the National University various industries and across the globe.
of Singapore and also holds a Master’s Prior to joining StarHub, he was from Intel
degree in Business Administration from where he worked with telecom operators,
University of Hull, United Kingdom. vendors and regulators on the ecosystem
for the proliferation of broadband through
wireless access technology. Prior to his Intel
role, he was Managing Director of Pacific
Internet Singapore and Malaysia. At a global
level, he was worldwide division General
Manager of Lernout & Hauspie.
Kevin received a Bachelor of Science

Degree in Business Administration from
Pepperdine University in California
and a Masters Degree in International
Management from the American Graduate
School of International Management
(Thunderbird).
Jeannie Ong Howie Lau

Chief Strategic Partnership Officer (CSPO) Chief Marketing Officer (CMO)
Jeannie leads StarHub’s efforts in Howie is responsible for charting
establishing and maintaining strong StarHub’s brand and marketing strategies
strategic relationships with government across all marketing functions and
agencies, content owners, key strategic ensuring overall marketing synergy and
partners and other complementary brand consistency. Customer value
Strategy
companies. She is also responsible for management also falls under his purview.
building StarHub’s corporate reputation in In addition, he oversees the Pay TV and
the areas of Corporate Communications, Broadband businesses as well as StarHub’s
Investor Relations (IR) and Corporate Content and Local Production teams.
Sustainability.
Howie was the VP, Corporate Development
Prior to her current role, Jeannie was the of Lenovo’s Worldwide Finance
CMO. She joined StarHub in 2001 as its Organisation, where he oversaw Lenovo’s
Head of Corporate Communications & end-to-end Post Merger Management
Investor Relations, and helped bring the and related Merger & Acquisition matters.
company public in 2004. Jeannie and her Previously, he as Lenovo’s VP of Marketing
teams have won multiple awards, including and Communications for Emerging
Brand of the Year at the prestigious Hall of Markets Group, and was responsible for
Fame Awards (2015 and 2014); The Green the strategy and execution of marketing
Award at the Asia Communications Awards and communications in the ASEAN, China,
(2015 and 2014), in recognition of StarHub’s Eastern Europe, Hong Kong, India, Korea,
significant efforts in environmental policies Latin America, Middle East, Russia and
and programmes. Taiwan markets.
In IR, Jeannie was recognised as the Best IR Howie is currently the President of
Officer in Singapore by IR Magazine Awards Singapore Computer Society’s Executive
– South East Asia thrice consecutively in Council, and is also on the management
2014, 2013 and 2012. She and her team board for NUS Institute of System Science as
made it to the IR Global Top 50 list in 2014. well as the advisory committee for Nanyang
They also clinched the Best IR award (Gold) Polytechnic School of IT and Anderson
at the Singapore Corporate Awards thrice Junior College.
(2016, 2013 and 2010).
Howie holds a Bachelor of Business
Jeannie has over 20 years of experience Administration from the National University
in corporate, financial, marketing and of Singapore, majoring in Promotional
community communications across Management and Consumer Behaviour.
different industries. She first commenced
her career with the Civil Aviation Authority
of Singapore. She also held senior IR
and regional corporate and marketing
communications positions at IPACS and
Singapore Computer Systems.
Jeannie holds an honours degree from the

University of London, where she majored
in Economics and Marketing.
Senior Management’s Profile

continued
Mock Pak Lum John Tan Diana Lee

Chief Technology Officer (CTO) Chief Information Officer (CIO) SVP, Customer Service Experience
Pak Lum oversees the Network John is responsible for charting the Diana heads the Customer Service
Engineering, SmartHub and strategic directions and providing Experience team at StarHub and is
i3 divisions at StarHub. He is leadership in the development and responsible for customer sales and
responsible for establishing the deployment of information systems. service activities at all touch points.
company’s technical vision and He leads the Information Services Under her leadership, StarHub’s
leading all aspects of technology division and oversees operations in customer service practices and
development. He also looks into the planning and management, system standards have won wide recognition
strategy for technology platforms architecture design and governance, at the Annual Call Centre Awards by
and external partnerships, as well as development and implementation, the Call Centre Council of Singapore.
initiatives for innovations. support and maintenance of IT
infrastructure, applications and Diana was instrumental in integrating
Pak Lum started his career in services, to deliver efficient business the two customer service teams
Hewlett Packard. He later joined support for StarHub. In addition, he and systems into one following
Pico Art International. With the oversees the Business Excellence the merger of StarHub and SCV in
advent of multimedia technology, department and Customer Service 2002. Today, the single virtual call
he set up a joint venture company Experience division. centre provides enhanced customer
with Pico – GT Communications, experience and convenience through
to offer computer animation and John has over 25 years in the IT a single hotline number and common
interactive kiosks services. After industry and education sector. He technology. To ensure a high level
that, Pak Lum moved on to head was recognised for his excellent of service to customers, she also
1-Net Singapore. One of his key contributions and was awarded The initiated several key projects in the
achievements was the winning of Public Administration Medal area of process efficiencies, staff
a $92 million contract to host the (Silver) in 2007 National Day Awards. motivation and customer experience
Singapore Government Data Centre. In 2012, John became a Fellow in StarHub.
He was also appointed the CEO of Member of the Singapore Computer
the technology arm of MediaCorp in Society, an esteemed title bestowed Prior to her role in heading the
2002. In 2010, he left the company in recognition of his contributions to Customer Service team, Diana
to set up an IT software company IT and the Society. was the Senior Manager of Human
before joining StarHub. Resource in SCV. Diana has a
John holds a Master Degree in Graduate Diploma in Financial
Pak Lum holds a Bachelor of Business Administration from the Management from Singapore
Electrical/Electronic Engineering National University of Singapore, Institute of Management and is a
from the National University of a Master Degree in Computing Customer Operations Performance
Singapore and a Master in Business Science and a Bachelor Degree Centre (COPC) Certified Six Sigma
Administration from the University of Engineering (Hons) from the High Performance Management
of California, Los Angeles. University of Newcastle Upon Tyne. Techniques Specialist.
Veronica Lai Chan Hoi San Tim Goodchild

General Counsel & Company Secretary SVP, Human Resource SVP, Government & Strategic Affairs
Veronica advises the StarHub Group Hoi San is responsible for the overall Tim and his team are responsible
on all legal aspects of operations, direction of all HR services in the for managing StarHub’s relationship
strategy and compliance. She company. She is also responsible for with the regulators, and for providing
supports the Board of Directors formulating, developing and ensuring regulatory support to StarHub’s lines
on corporate secretariat matters. the consistent implementation of the of business.
Strategy
During her career with StarHub, company’s strategic HR policies and
she oversaw the legal aspects of procedures. Tim joined StarHub in 2004, and has
the merger of StarHub and SCV, more than 25 years of experience
StarHub’s successful IPO and the Hoi San has been credited for building in telecommunications regulatory
establishment of StarHub’s $1 billion a strong groundwork in StarHub’s HR issues. His working career has
MTN Programme. division prior to the company’s official included time with Telecom New
launch in April 2000. Supported by Zealand, the Telecommunications
Under her leadership, the StarHub a dedicated and vibrant team, she Authority of Singapore, Millicom
Legal team was recognised with had reviewed and put in place the International Cellular; and Equant
various awards, including the Best necessary manpower, compensation Singapore. His career has given him
Deal for Singapore for the StarHub and benefits, as well as internal exposure to regulatory regimes
IPO by Asia Legal Business (ALB). communication strategies, policies throughout the Asia-Pacific region.
Veronica received the 2007 AsiaLaw and procedures to support the
Singapore In-house Counsel Award company’s rapid expansion. She also Tim holds an honours degree in
and was named by ALB as one of played an integral part in the merger Economics from Victoria University.
the Top 25 in-house counsels in Asia of StarHub and SCV by aligning and
in 2010. In 2013, the StarHub team integrating the various business
won the International Law Office’s functions and resources, HR policies
prestigious Global Counsel Award and procedures.
2013 and Asia Pacific Counsel Award
2013, for regulatory support. Hoi San holds a Master of HR
Management from Rutgers University,
For her corporate secretariat USA and a Bachelor of Arts degree
portfolio, Veronica was recognised from Scripps College, The Claremont
with the Asian Company Secretary Group for Colleges in the USA.
2013 Award for Singapore by She has a graduate diploma in
Corporate Governance Asia. In 2014, Personnel Management and is
the Legal team won the International also an Accredited Myers-Briggs
Legal Alliance Gold Award for the Type Indicator Assessor as well as
Best Asian & South Pacific Legal a Certified Evaluator of the Thomas
Department. Veronica is listed on (DISC) Personal Profile System.
The Legal 500’s GC Powerlist for
Asia Pacific and for SE Asia.
Veronica graduated with an honours

degree from the National University
of Singapore. Prior to joining StarHub,
she spent six years in practice with
Rajah and Tann LLP.
Mobility
Significant
Achievements
FY2016
FEB
Attained the OpenSignal
‘Fastest Networks with LTE’
title for the second
consecutive quarter
MAR
Introduced data upsize
option Plus 3
Signed MOU with China

Mobile to speed up strategic
collaboration under Hand-
in-Hand program
APR
First telco in Singapore
to accept Apple Pay
(carried Android Pay
and Samsung Pay since
June 2016)
Live demonstration of
world’s fastest 4G indoor
mobile coverage of up to
1Gbps with Huawei
JUL
Tripled 4G upload speeds to
150Mbps using Nokia’s 4G
LTE-Advanced technology
AUG
Launched SurfHub packs
home broadband and
mobile data bundle
NOV
Headed towards 5G with
4.3Gbps speeds using
Nokia’s AirScale
Started collaborations with

M1 and Singtel on universal
secure mobile-based
authentication
Renewed and reinforced

strategic partnership with
Vodafone
DEC
Introduced new
DataTravel plans for multiple
destination trips
Joint declaration by
Hand-in-Hand program
members for better
customer roaming
experience
“The retail and customer service stores

have merged and we are trained to
handle both sales and service activities.”
Vida Z. Rosel
Floor Manager
Hubbing Mobility
in Review
In a highly penetrated We work closely with existing and new Strategic Alliance
mobile market hardware partners as we believe our customers In March, we signed an MOU with
are the final arbiters of what they want. media giant SPH to work closely on
that faces stiff content, distribution and other forms of
competition, we Better Data Value complementary offerings. In July, as part
differentiate ourselves Knowing how much everyone relies on of this MOU, all existing and new StarHub
with better value and mobile data, we have given our subscribers Mobile post-paid subscribers enjoy free local
innovative offerings. the option of getting a lot more for just an data access to nine popular SPH mobile apps
incremental increase in cost. In March, we for a year.
With more mobile introduced the Plus 3 data plan; 3GB-for-$6
customers constantly for our 4G post-paid users. The apps are AsiaOne, Berita Harian, Lianhe
on the move Wanbao, Lianhe Zaobao, The Business Times,
beyond Singapore, In August, we introduced the SurfHub packs The Straits Times, ONE FM91.3, Kiss92 and
we strengthen our combining mobile and home fibre broadband, UFM100.3. Additional apps will be included in
Performance
strategic international helping them stay online at home and on this offering.
the move. The most accessible of the four
alliances with SurfHub plans, bundles a 4G postpaid line Networks for Today and Tomorrow
premium partners so with 12GB of data and 150 minutes of talk With greater number of apps, as more users
as to provide the best time; the top end SurfHub plan comes with share multi-media content, network quality is
and seamless mobile 24GB of mobile data and 700 minutes of talk key to customer satisfaction. In April, StarHub
experience across time. All the four plans are tied to a 1Gbps organised a live demonstration of the world’s
home fibre broadband access. fastest indoor coverage with 4G speeds of up
borders.
to 1Gbps.
To give more value to our subscribers who
might travel to multiple destinations in one This was made using technology partner
trip, we have introduced new DataTravel Huawei’s award-winning small-cell base
plans. For a flat fee, they get to use 2GB station system, which is physically no
of data within 30 days when they travel bigger than a ream of A4 paper. Our joint
across these popular destinations: Australia, demonstration of this capability was built on
Hong Kong, Indonesia, Malaysia, New Zealand, our earlier deployment of Huawei’s 4G LTE-
South Korea, Taiwan, Thailand and the Advanced Heterogeneous Network upgrade
Philippines. For those who need more data, at Marina Bay in 2015.
a 3GB plan is also available.
Post-paid Customers Tiered Plans Mix Total Mobile Revenue

$m
1.39m
+4.6% YoY 2013 1,243
2014 1,248
Tier 68%
2016
Pre-paid Customers Non-Tier 32%
2015 1,240
920k 2016 1,215
+6.7% YoY
Hubbing in Review
continued
Mobility
We keep an open mind when it comes to issued since mid-November will not be able to
technology and we work with top-notch support 2G services.
vendors. Using Nokia’s 4G LTE-Advanced
technology, StarHub Mobile users are now In the same month, all three mobile operators
able to enjoy upload speeds of up to 150Mbps. also announced a collaboration to adopt
Deployment began at the popular Marina Bay the GSMA’s ‘Mobile Connect’ authentication
and Orchard areas in the second half of 2016, standard, which is seen to be a convenient
with nationwide coverage in 2017. way for users to be identified as they transact
with financial institutions, telecommunications
While we stay on top of improvements in operators and other online service providers
technology, we are constantly looking around via their smartphones.
the corner. In November, we started exploring
how 5G can be used to enrich our customers’ With Mobile Connect, mobile customers can
lives. Via Nokia’s AirScale integrated radio look forward to creating a universal trusted
Faster 1 access network, we tested mobile speeds of a digital identity. This can then be used as a
mobile whopping 4.3Gbps – that is at least ten times convenient and secure way to access all
speed faster than the 4G networks in use today. manners of online services and applications.
Up to
4.3Gbps Such a blazing mobile access speed is not

an overkill. We are already trialling future
To get this collaboration going, the three
operators are jointly building a platform with
technologies involving virtual and augmented the same Application Programme Interface,
reality as well as e-health and autonomous which defines a common interface for
vehicle applications that need such speeds to other parties to work with. The first wave of
function well. supported online services should be ready in
the second half of 2017.
Industry Collaborations
As we look ahead, we have to move on. We have also reaffirmed our strong and
As part of the planned shut down of the 2G long-standing partnership with Vodafone,
network that has served the industry well which boasts one of the largest mobile market
for more than a decade, new pre-paid cards footprints in the world, thereby benefiting
With Mobile
Connect, mobile 2
customers can look
forward to creating
a universal trusted
digital identity.
multinational companies with operations Before the year was up, the Hand-in-Hand Hand-in-Hand
across the various markets covered. Program took one big step forward. We are 3 Program
now part of the 14 mobile network operators
In November, we renewed the strategic in this program committing to better cross 14
partnership for another three years, expanding border connectivity and interoperability, Mobile
collaboration on unified communications thereby improving the roaming experience network
and enterprise services on top of existing of all our customers. operators
partnerships in mobile voice and data roaming
and knowledge-sharing initiatives. Besides StarHub, other members
include China Mobile Hong Kong, China
Hand-in-Hand Mobile International, Companhia de
Growing economic and business ties between Telecomunicações de Macau, S.A.R.L.,
China and Singapore means there is increased Chunghwa Telecom, Deutsche Telekom,
demand for better mobile connectivity as FarEasTone, KT Corporation, Orange, Telenor,
Performance
people from both countries travel to and True Corporation, Turk Telekom International
fro. In March, we signed an MOU with China and Vimpel-Communications Public Joint
Mobile International Limited to collaborate Stock Company.
under the Hand-in-Hand program led by
China Mobile.
Five broad areas are covered under this MOU:

intensify device collaboration on research
initiatives for mobile network evolution
technologies; strengthen complementary
capabilities for data business services; enhance Growing economic and business ties between
mobile business through global roaming China and Singapore means there is increased
cooperation and information sharing; leverage demand for better mobile connectivity as people
network resources to maximise efficiency;
co-develop new business opportunities in
from both countries travel to and fro.
relation to innovation and IoT.
Entertainment
& SmartLife
Significant
Achievements
FY2016
FEB
Signed up as Great Eastern
Yeo’s S.League official
broadcaster
MAR
Partnered HSBC World
Rugby Singapore Sevens
Launched DreamWorks
Animation channel across
various platforms
Signed MOU with SPH
Raised curtains on
upcoming Public
Service Broadcast (PSB)
programming
Announced intention to
acquire strategic stake in
mm2 Asia Ltd (which was
completed in June)
APR
First in Southeast Asia to
carry BBC First
Launched new version

of StarHub Go, in time
for new season of
Game of Thrones
Introduced beIN
SPORTS channel
MAY
Started MaxToon
in partnership with
MyChinaChannel
JUN
Live telecast of UEFA
EURO 2016 matches
SEP
Launched Smithsonian
channel
OCT
Set up StarHub VR Tennis
Zone at OCBC Square
NOV
Launched Go Shop 24/7
shopping channel & Love
Nature channel
Introduced new
‘Connoisseur Pack’
Signed up as Singapore
“The Hub Trooper team has conducted Slingers’ official
broadcaster for three years
over 100,000 home visits. We are
experienced in solving digital issues.”
Adrian Siew
Hub Trooper
Hubbing Entertainment & SmartLife

in Review
We are actively We formed strong partnerships in content, In addition, we delighted rugby fans by
on top of changing distribution and technology. We took our carrying telecasts of all the other legs of the
viewers around the world with our extensive HSBC World Rugby Sevens Series. We also
consumers’ range of programming while remaining firmly gave back to the community by working
preferences, offering rooted here, promoting local sports, content, together with FOX Sports to bring in Fijian
them value and and values. rugby legend, Waisale Serevei, to conduct a
choice. We are glad clinic for youths here.
hundreds of thousands Kick Offs, Tip Offs
Nothing keeps the eyeballs glued more In April, we introduced the beIN SPORTS HD
of consumers turn to than adrenaline-pumping sporting action. channel, which carries live coverage of La
us to be entertained, We have been busy reinforcing existing ties Liga, Ligue 1, Coupe de la Ligue and Trophée
informed, and to lead and securing new partners to bring the des Champions matches. La Liga is the first
a ‘smarter’ lifestyle that biggest variety of sports content to our division of professional Spanish football,
is constantly on the StarHub TV subscribers. featuring mega-stars such as Lionel Messi and
Performance
go and at home. Our Cristiano Ronaldo. Ligue 1, meanwhile, is the
As a proud Singaporean brand, we have top division over at France and features top
upgraded 5-in-1 value been doing our part to support local sports. players such as Mario Balotelli, Edinson Cavani
bundle, HomeHub Go, In February, we announced our partnership and Thiago Silva.
offering Fibre TV, Fibre with the Great Eastern Yeo’s S.League. As the
Broadband and 15GB local football league’s official broadcaster, The European football action continued
mobile data will serve we carried live matches via Singapore’s only with our live carriage of all 51 matches of
free sports channel, Hub Sports Arena. We the UEFA European Football Championship
our customers well. also carried the latest news and profiles of the (UEFA EURO 2016). Football fans were treated
various S.League players on our daily sports to not just HD action but also extras such as
news show ‘HubSports 360’. match previews, post-match analyses, and
daily highlights.
In March, Singapore hosted the HSBC
World Rugby Sevens Series for the first time Knowing that the Premier League still
and we celebrated this by signing a four- commands the most popular football offering,
year partnership with HSBC World Rugby we have made it a point to continuously
Singapore Sevens. As the official broadcaster, enhance and expand ways our subscribers
we broadcasted the tournament live on Hub can enjoy the action via our tie-up with Eleven
Sports Arena and streamed it on smart devices Sports Network’s coverage.
through the StarHub Go app.
Pay TV Customers Pay TV Revenue Broadband Revenue

$m $m
498k
-7.2% YoY 2013 386 2013 242
2014 390 2014 202
Broadband Customers 2015 391 2015 200
473k 2016 378 2016 217
-0.5% YoY
Hubbing in Review
continued
Stream In August, English football fans were able to TVB’s Growing Blitz
LIVE 1 stream live coverage of the Premier League, the We brought in the Year of the Monkey
Coverage FA Cup, the English Football League Cup, the with lots of buzz and fun. We offered free
Up to Football League Championship and England preview of more than 150 channels – making
5 Leagues international home ‘friendlies’ by getting the
‘Prime Football Pass’ on StarHub Go. The
Chinese New Year house visits more lively
and enjoyable. We also arranged for meet and
matches were caught across three StarHub greet sessions where fans can see their idols
Go channels – Eleven, Eleven Sports and such as Grace Chan, Kristal Tin and Raymond
Eleven Plus. Wong from Hong Kong, Evan Ma and Pets
Tseng from Taiwan as well as Seo Kang Jun
Besides English football, the three channels from Korea.
also aired selected football matches from the
Italian Serie A, Campeonato Brasileiro Série A In October, we celebrated our long-standing
and the Scottish Professional Football League partnership with iconic Hong Kong TV station
as well as CONMEBOL 2018 World Cup TVB with the seventh edition of the StarHub
Russia qualifiers. TVB Awards. The martial arts drama, A Fist
Within Four Walls, was the biggest winner that
In November, a three-year deal was signed evening. The kungfu drama, which featured
with the Singapore Slingers. Under this leading artistes Ruco Chan and Nancy Wu,
arrangement, we will be carrying all of the picked up a total of seven accolades.
Slingers’ matches in the ASEAN Basketball
League live on Hub Sports Arena. There were 17 award categories with
14 open for public voting. In a sign that the
The matches are available to non-StarHub popularity of StarHub TVB Awards has grown
subscribers via the 76.25MHz channel as well. considerably, there was a 35% year-on-year
With the backing of a much wider audience, increase in the number of votes cast during
we look forward to the Slingers go further in the six weeks voting period.
their coming championship run.
We celebrated
our long-standing 2
partnership with
Hong Kong TVB
with the seventh
edition of the
StarHub TVB
Awards.
International Spread data analytics and marketing. This MOU We strive to offer
Our already comprehensive spread of brings together the complementary, multi-
media, multi-platform capabilities of the two
the widest range
international programming has become even
more so. Our content and partnership team respective companies. With this partnership, of international
brought on new content partners so that we we expect our subscribers to enjoy an even content but we
can delight even more subscribers. better experience and our advertisers to gain remain fully
even better returns. anchored to our
In January, we launched WAKUWAKU JAPAN local partners
channel, which carries shows ranging from first- Even before this MOU, both companies are
run drama series to anime to documentaries already in close collaboration. For example,
be it in content,
and even matches of J.LEAGUE, the country’s in August 2015, we jointly presented an eight- distribution and
professional football league. episode ‘Ministerial Coffee Talk’ produced by even strategic
SPH and shown on StarHub TV. business alliances.
In March, we enriched our Filipino content
Performance
with the addition of three new channels: In addition, several new initiatives are already
GMA Pinoy TV, GMA Life TV, and GMA in the pipeline. In July, talk show ‘Zaobao
On Demand. GMA Pinoy TV, the flagship Keywords’, started airing on StarHub’s
international channel of Philippines’ GMA FreeView Chinese channel Hub E City.
network, offers the best in soap operas, talk Zaobao Keywords is a video news programme
shows, variety programmes and news. of Lianhe Zaobao, the Chinese flagship
newspaper of SPH. Via each three-minute
GMA Life TV, is a showcase of the warmth segment, the presenters would help introduce
of the Filipino lifestyle with its mix of soap three keywords used in the context of the
operas, movies, cookery shows and comedies. news stories of the day.
Meanwhile, GMA On Demand, offers viewers
their favourite GMA programming at their We have put in serious resources to develop
convenience, injected with 16 hours of fresh original content. We acquired an 8.8% stake
content monthly. in Catalist-listed regional production house
mm2 Asia Ltd for $18.04 million in June 2016.
The following month, we became the first By doing so, we will be better placed to make
market in Southeast Asia to carry the channel our content offerings stand out in this much
BBC First, home of premium and original cluttered space.
drama from BBC. Marquee drama offerings
include Sherlock, a detective series with a As mm2 has presence in the region, we also
modern twist; War and Peace, the latest TV hope to take our original productions beyond
adaption of Leo Tolstoy’s epic novel; and Singapore shores through them. We already
Luther, a crime thriller. have a fruitful track record of partnering with
mm2 Asia earlier with our investments in local
Korean fever went up a few notches in blockbusters such as ‘Ah Boys To Men’ and its
December; we announced the launch of sequels. We look forward to more.
tvN Movies HD, Asia’s first dedicated Korean
movie channel. Starting January 2017, Korean The Values of PSB
fans can get to enjoy the latest Korean To drive the popularity of locally-produced
blockbusters in all their HD glory, round- content, StarHub has been working closely
the-clock. The channel is also available on with industry regulator, IMDA, under its PSB
demand as tvN Movies VOD HD. Contestable Funds Scheme.
Proudly Local Via this scheme, we commissioned and

We strive to offer the widest range of produced a variety of programmes ranging
international content but we remain fully from travelogues to children infotainment to
anchored to our local partners be it in sports documentaries. One of the StarHub
content, distribution and even strategic Go local dramas ‘Echoes of Time’ lead actor,
business alliances. James Wen, was nominated under the Best
Performance By An Actor category at the
In March, we signed an MOU with publishing 2016 International Emmy Awards. Taiwanese
giant SPH to collaborate in areas ranging Wen scored the Emmy nod but lost out to
from sales, creation and carriage of content, Dustin Hoffman.
Hubbing in Review
continued
Recognising that media consumption habit We operate within this dense urbanscape but
has become more varied, we also started we bring the wide expanses of nature to our
commissioning for short-form content, so viewers. In November, StarHub TV subscribers
that they can be more easily consumed were the first in Asia to join the Love Nature
via mobile devices on the go. The content channel on a visual journey from the savannahs
and format may differ, but they keep true of South Africa to the secrets of the Arctic.
to some common values – the celebration
of Singapore’s culture and heritage, and With more than 300 hours of original
promotion of the Singaporean identity. programming produced per year, Love
StarHub will be commissioning about 110 Nature seeks to inspire nature lovers to bring
hours of original productions. better awareness to issues such as wildlife
conservation. Doing our part as a company
To mark Singapore’s 51st birthday in a that cares about our wider community and
Special 3 meaningful way, we produced a special surroundings, we are showing the Love Nature
Rendition rendition of the national anthem ‘Majulah channel on our ‘Freeview’ tier, accessible to all
Sung by
Singapura’, sung by 51 Singaporean mothers. our StarHub TV subscribers.
51 mums This unique ‘Majulah Moms’ music video is the
latest in the series of StarHub’s annual National We have an expanding range of content
Day campaigns. offerings but we also recognise we can make
refinements in the way we present them to our
It is meant to promote inclusiveness and subscribers. Also in November, we introduced
togetherness in this country we call home. a new ‘Connoisseur Pack’, for subscribers who
Majulah Moms follows our preceding year’s are keen to experience the finer things in life
‘Home by Homes’ which featured talents from from classical music to arthouse films and
nine voluntary welfare organisations. It ended travel, fashion and lifestyle shows.
up as number one on YouTube’s Top 10 Playlist
in Singapore. This new channel pack consists of
TV5MONDE Style HD, TV5MONDE Asie HD,
Family and Education Stingray Brava HD, Stingray DJAZZ HD, A-List
Nothing keeps a family closer than the HD, CinemaWorld (HD) and CinemaWorld On
common experience of watching some Demand HD.
entertaining and educational shows. In March,
in conjunction with DreamWorks Animation, Netflix Connects
we launched the multi-platform DreamWorks We are always ready to bring on board new
Channel, delighting our young viewers with partners to complement our TV offerings. Just
the goofiness of ‘Kung Fu Panda’ and mythical after the start of the New Year, we announced
world of ‘How To Train Your Dragon’. a tie-up with popular Internet TV provider
Netflix to allow our Fibre TV customers to
In May, StarHub TV and MyChinaChannel enjoy Netflix’s expansive catalogue of content
jointly launched ‘MaxToon’, a dedicated through our set-top boxes.
We have an HD Mandarin edutainment channel for
expanding range kids aged three to 12. The first of its kind in Due to our Open Connect partnership with
of content offerings Singapore, MaxToon offers an entertaining and Netflix, StarHub Mobile and Broadband
but we also educational mix of cartoons and live action subscribers now enjoy smoother streaming for
recognise we can programming, carefully curated from China. popular shows such as Daredevil, Orange is
the New Black, and even Netflix’s first French
make refinements In September, we brought in another big original series Marseille.
in the way we brand name in content with the launch of
present them to the Smithsonian Channel. Inspired by the For additional convenience, customers can
our subscribers. We world-renowned Smithsonian Institution charge their Netflix subscription to their
introduced a new – the world’s largest museum, education monthly StarHub bills – we are one of the
‘Connoisseur Pack’ and research complex – the channel first Asian pay TV operators to offer this
offers programming ranging from stories convenient arrangement.
for subscribers of human endeavour to documentaries on
who are keen to breakthroughs in science as well as notable
experience the events in history.
finer things in life.
Smart Homes, Intelligent Platforms In June, we launched a new service

Introducing new platforms
We constantly find ways to make our CATCHPLAY Unlimited on StarHub TV, 4 for unlimited enjoyment
platform more useful for our subscribers. bringing additional ways of enjoying movie
In partnership with Astro, we introduced content. CATCHPLAY Unlimited is a monthly CATCHPLAY
Unlimited
Go Shop, a 24/7 shopping channel on subscription plan offering viewers a buffet of
Hollywood, independent studios and Asian
Movies
StarHub TV in November.
titles. For viewers who prefer to pay for only
This channel offers immersive and entertaining specific titles, they can opt for CATCHPLAY
demonstrations of products ranging from Single Rental, to enjoy at their leisure.
frying pans to fitness machines. Once our
subscribers fancy any item, they can easily We do not just enhance the content that we
go to the Go Shop website and make their carry; we constantly experiment with new
purchases conveniently. ways and technologies to keep the experience
fresh. In line with the growing popularity of
Performance
We helped fan the Game of Thrones fever tennis here, we set up a StarHub VR Tennis
in April when we introduced an enhanced Zone at the OCBC Square, which gives the
version of our StarHub Go streaming service experience the on-the-court action of world
during the premiere of the new season. class tennis action through the power of 360
The new StarHub Go version includes a 3D virtual reality.
recommendation feature that draws upon
past viewing preferences, as well as a search The footage was captured via a Nokia OZO
function which makes it easier to fish out that Camera mounted above the umpire’s chair,
most desired content. which offered an all-round vantage point from
spectators’ cheering to the players serving.
With our supersized catalogue ranging from
HBO hit series to acclaimed BBC productions
to TVB’s latest offerings, StarHub Go offers
something for every viewer.
Enterprise Fixed
Significant
Achievements
FY2016
APR
Launched the SmartShare
service for SMBs
MAY
Invested $200 million with
partners & launched the
Cyber Security COE
AUG
First telco in Asean to
be named Autodesk’s
‘Value Added Distributor’
SEP
Cyber Security COE
welcomes Coronet as
latest partner
StarHub, NUS, Veniam and

ComfortDelGro Bus in
connected vehicles pilot
launch
OCT
Winner of ’Best IP Services
Infrastructure’ by readers
of Networkworld Asia for
second consecutive years
NOV
Launched Device
Subscription Service
for SMBs
DEC
Launched services over the
new APG submarine cable
network system
“Our enterprise customers operate in an

environment with greater IT complexities
and we respond by providing them with
more capabilities.”
Guo Jiawei
IP System Engineer
Hubbing Enterprise Fixed

in Review
In a market of many In 2016, we added new abilities in critical areas In addition, renowned international security
vendors serving such as cyber security, where the threats are expert Professor Yitzhak Ben-Israel has been
real and present. As attention on cyber security appointed Advisor to the COE.
business customers, shifts upwards from the server room to the
we differentiate boardroom, we are ready to capture this as a IoT Tapped to Improve
ourselves by growing business, but more importantly, also Business Processes
investing heavily in address our customers’ rising concerns. IoT is here to stay, and we are helping
our own capabilities businesses to tap into it to enhance their
Excellence in Cyber Security operations and productivity. In September,
and network In May, we announced a joint investment as part of StarHub’s Connected Labs
infrastructure. This of $200 million with our partners over undertakings, we announced a new joint
ensures that our the next five years to grow the cyber project on connected vehicles.
customers get to security ecosystem in Singapore. Via the
enjoy better reliability, newly-launched Cyber Security COE, we Our partners in this pilot are the National
Performance
quality and value. aim to grow our bench of expertise and University of Singapore (NUS), ComfortDelGro
competencies in this fast-growing area. Bus as well as Veniam, a company that focuses
The COE is supported by the Economic on Internet of Moving Things projects.
Development Board.
As part of this trial, NUS’s shuttle buses function
We have five industry partners at the start: as mobile Wi-Fi access points connecting to
Blue Coat, Cyberbit, Fortinet, Verint and Wedge one another, buildings and bus stops as they
Networks. Just four months after launch, we ply throughout the NUS Kent Ridge campus.
added Coronet; an Israel-based company that A dynamic Wi-Fi network is created along
was founded in 2014, but has already won the route, providing better reach and wireless
acclaim as a leading provider of technology connectivity to the NUS community.
and solutions to ward off wireless threats.
The connected elements generate a trove
To deepen the pipeline of cyber security of traffic pattern data which can then be
talent, we are also partnering with four analysed and applied in areas like urban
institutes of higher learning (IHL), including commute and logistics.
Nanyang Polytechnic, Republic Polytechnic,
Temasek Polytechnic and Singapore University In November, we supported a pilot trial of
of Technology and Design. In conjunction solar-powered, rubbish-compacting smart
with these IHLs and the Cyber Security Agency bins along Orchard Road by technology
of Singapore, we aim to train 300 specialists in company Terra Sol and the Orchard Road
this field over the next five years. Business Association.
Data & Internet Revenue Data & Internet Revenue Voice Revenue
$m $m
$347m
+4.9% YoY 2013 303 2013 65
2014 321 2014 57
Voice Revenue 2015 331 2015 54
$53m 2016 347 2016 53
-1.8% YoY
Hubbing in Review
continued
Enterprise Fixed
Wireless Our 4G mobile networks provides wireless All these projects are part of our push towards
Connectivity connectivity for the smart bins, whereby real- becoming a Smart Nation.
Via 1
time information is transmitted from the bins
4G Mobile to the waste management monitoring system Expanding our IT Offerings
Networks located at Terra Sol’s office, allowing them We have made inroads into other parts of the
to optimise operation efficiency. In addition, broader IT industry. Since August, we have
shoppers are able to log on to the bins’ Wi-Fi been named ‘Value Added Distributor’ for 3D
network and surf the internet for free. design software provider Autodesk. We are the
first telecommunications provider in Southeast
In October, we deployed Singapore’s first Asia accorded this status.
autonomous hotel front-of-house guest
room-service delivery robot, Relay, in As many of our business customers lean on us
partnership with US tech start-up Savioke not just for internet access but also the range
and Hotel Productivity Centre for M Social of IT services, we are in a good position to
Singapore. deliver software such as Autodesk’s, which is
used increasingly by remote teams working
The hotel was looking to robotic solutions to out of the cloud.
help streamline operations as well as enhance
guest experience. Relay is known as AURA Smart Sharing
(Automated Room-Service Associate) at the Increasingly, SMBs depend on messaging-
hotel. This is the first time Relay is deployed based communication services as a customer
outside the US. service tool. Most companies are likely to
select the right mobile plans that fit the
We integrated AURA with the key hotel usage patterns of their employees, but due
systems, enabling it to autonomously ride to the dynamic nature of today’s business,
in elevators, navigate to guest rooms, notify it becomes inevitable that some will exceed
guests of a delivery, and open its lid for guests their individual allocated bundle.
to retrieve items when they answer the door.
We deployed
Singapore’s first 2
autonomous hotel
front-of-house
guest room-service
delivery robot,
AURA, for M Social
Singapore.
In April, we launched a new mobile value- and other devices, they can choose to stretch Voted for the
added service that aims to help SMBs their dollar by subscribing for the use of these
maximise their mobile plans whilst minimising hardware together with other bundled IT
second year
wastage and keeping cost in check, by services and internet access. running – winner
combining voice minutes as well as SMS and of ‘Best IP Services
data allowances from all the mobile plans Resilience in Connectivity Infrastructure’
subscribed for employees into one common We also constantly enhance our international by readers of
pool for sharing. connectivity infrastructure. In December, in NetworkWorld Asia.
line with growing demand for international
Device and Services Subscription bandwidth, we launched services over the
We continually improve on what we can do new APG submarine cable network system.
for our business customers. In November, as
part of our Enterprise Hubbing strategy, we The APG is a 10,900-km submarine cable
introduced a new ‘Device Subscription Service’. network system linking nine countries and
Performance
regions in Asia Pacific: China, Hong Kong,
This service combines devices from renowned Japan, Malaysia, Singapore, South Korea,
vendors such as HP, and also the software Taiwan, Thailand and Vietnam. This submarine
and technical support necessary to manage cable comes with a capacity exceeding
the IT needs of businesses effectively at a flat 54Tbps – the highest of any network in Asia.
monthly fee. We believe such a service will
help the thousands of SMBs here to worry While Singapore is already connected via
less about their IT needs and focus fully on other submarine cable networks, by tapping
growing their core business. into APG, we can ensure traffic routing
diversity and thereby boosting resilience
We also believe this service can go some way in communications.
in helping our customers manage their cash
flow. For example, instead of requiring upfront
capital expenditure in computers, printers
Corporate Governance
Building on the strong foundations of transparency, accountability and integrity.

CORPORATE GOVERNANCE robust procedures and delegated • the Audit Committee (AC);
STATEMENT authorities; • the Strategy Committee (SC);
At StarHub, we are committed to • Regularly review the performance • the Nominating Committee (NC);
upholding sound corporate governance of Senior Management and the • the Executive Resource and
and sustainability practices and remuneration framework of the Compensation Committee (ERCC);
policies that promote transparency, Board and Senior Management; and
accountability and integrity. We • Review and approve key operational • the Risk Committee (RC).
recognise that this is essential for the and business initiatives, major
long-term sustainability of our business funding and investment proposals, The composition of the Board
and value creation for our stakeholders. acquisitions and divestments; Committees and their specific
• Recognise that the perceptions responsibilities are set out in the later
CORPORATE GOVERNANCE of key stakeholder groups affect sections of this Report. The Terms
REPORT 2016 StarHub’s reputation, identify the key of Reference of the respective Board
This report describes our corporate stakeholder groups (which include Committees are available on the
governance framework, policies and customers, suppliers and business StarHub Investor Relations (IR) website.
practices for the financial year ended partners) and guide Management in
31 December 2016 (FY2016). StarHub StarHub’s strategy and approach in Additional Board committees may be
has complied, in all material aspects, addressing the concerns of these key formed to undertake specific duties if
with the principles and guidelines of the stakeholder groups; necessitated by business requirements.
Code of Corporate Governance (Code) • Set StarHub’s values and standards
issued by the Monetary Authority of (including ethical standards), to The Board delegates specific areas
Singapore on 2 May 2012, and in some ensure that the Group’s obligations of responsibilities to each Board
areas, has made improvements from to shareholders and stakeholders are Committee. Each Board Committee is
the previous financial year ended well-understood and duly met; required to operate and make decisions
31 December 2015. • Provide guidance on the social, on matters within its terms of reference
ethical and environmental impact and applicable limits of authority.
of the Group’s activities and
1. BOARD MATTERS monitor compliance with StarHub’s The Board reviews the decisions
THE BOARD’S CONDUCT sustainability policies and practices; made by each Board Committee
OF AFFAIRS and regularly. The respective Chairman of
• Ensure the Group’s compliance with each Board Committee updates the
The Board’s Role all relevant laws and regulations. Board at Board meetings, in relation
The Board has oversight of the business to key matters raised and/or decisions
performance and affairs of the Group. The Board and individual Directors are made at the last-held meeting of the
The Board leads, directs and works obliged to act in good faith and consider respective Board Committees. For
closely with Management, with a view the best interests of StarHub and all its any matter which requires the Board’s
to the long-term success of the various shareholders at all times. approval, the Board Committees would
businesses of the Group. recommend the course of action to
The Board has established a framework the Board for its consideration and
The Board takes on the following key on authorisation and approval limits decision. Minutes of the meetings of
roles and responsibilities: for capital and operating expenditure, the AC, the SC, the NC and the RC
as well as specified transactions are also circulated to the Board for its
• Provide entrepreneurial leadership including acquisitions and disposals of information, while the minutes of the
and guidance to Management and investments, procurement of goods meetings of the ERCC are available to
steer the Group through its strategy and services, bank facilities and cheque the Directors on request.
and corporate plan; signatories. Within this framework, the
• Ensure that the necessary financial Board has set relevant authority and Board Meetings
and human resources are in place for approval sub-limits for delegation to For FY2016, the Board held a total of five
the Group to meet its objectives; various Management levels to optimise meetings. In keeping with past practice,
• Establish a framework of prudent operational efficiency. a full-day Board Strategy offsite was
and effective controls which enables held to conduct an in-depth review of
risks to be assessed and managed Board Committees the Group’s strategy going forward and
in order to safeguard shareholders’ The Board has established the following to consider the Group’s budget for the
interests and StarHub’s assets. This Board committees (Board Committees) upcoming financial year.
framework is supported by clear and to facilitate the discharge of its functions:
Throughout the financial year, as Board meetings for the upcoming The number of Board and Board
and when deemed necessary by the financial year are scheduled in advance Committee meetings held in FY2016 and
Board, additional Board meetings before the end of the current financial the attendance of the Directors at these
may be convened to consider urgent year so that the Directors are able to meetings as well as the Annual General
proposals or matters that require plan ahead and attend the upcoming Meeting (AGM) and the Extraordinary
the Board’s review and approval. financial year’s Board meetings General Meeting (EGM) held in FY2016
StarHub’s Constitution allows Board according to the respective meeting are tabulated below:
meetings to be held via audio and video schedules.
conferencing to facilitate the Board’s
decision-making process.
Table 1
Board Board Committee Meetings AGM
Meetings AC SC NC ERCC RC & EGM
No. of Meetings Held 5 4 4 3 5 2 1
Steven Terrell Clontz 5 – 4 – – – 1
Tan Tong Hai 5 – – – – 2 1
Ma Kah Woh 5 4 – – – – 1
Peter Seah Lim Huat(1) 5 – – 3 5 – 1
Governance
Nihal Vijaya Devadas Kaviratne CBE 5 4 4 – – – 1
Teo Ek Tor 5 – – 3 5 2 1
Sio Tat Hiang(2) 4 – – 2 4 2 1
Lim Ming Seong 5 4 4 – 5 – 1
Liu Chee Ming 4 – 3 – – – 1
Robert J. Sachs(3) 5 – 4 – – – –
Rachel Eng Yaag Ngee 5 4 – – – – 1
Nasser Marafih 3 – – – – – 1
Takeshi Kazami 4 – – – – – 1
Stephen Geoffrey Miller(4) – – – – – – –
Notes:
(1) After the end of FY2016, Mr Peter Seah Lim Huat stepped down from the Board and ceased to be the NC Chairman and the ERCC Chairman (as well as a NC
member and an ERCC member) with effect from 1 January 2017.
(2) After the end of FY2016, Mr Sio Tat Hiang stepped down from the Board and ceased to be a NC member, an ERCC member and a RC member with effect from
1 January 2017.
(3) Mr Robert J. Sachs stepped down from the Board and ceased to be a SC member with effect from 30 December 2016.
(4) After the end of FY2016, Mr Stephen Geoffrey Miller was appointed as a non-executive Director, a SC member and an ERCC member with effect from
1 January 2017. Mr Miller was also appointed as the RC Chairman with effect from 10 January 2017, succeeding Mr Teo Ek Tor.
continued
Board Orientation and Continual • updates on key legal, regulatory, and an ERCC member);
Training & Development industry and accounting changes • Mr Teo Ek Tor, an independent
StarHub has a comprehensive induction which affect the Group, given during Director, was appointed as the
programme for all newly-appointed Board meetings or via email; and ERCC Chairman, succeeding
Directors that is specifically tailored for • articles and reports (including Mr Peter Seah Lim Huat. Mr Teo
the Group’s business and operations. industry news and analyst reports) also ceased to be the RC Chairman
Management conducts briefings for relevant to the Group’s business, (and a RC member);
newly-appointed Directors to familiarise regularly circulated to the Directors • Mr Sio Tat Hiang stepped down
them with the Group’s business and uploaded onto the StarHub from the Board and ceased to be
activities, strategic directions, financials, Board Portal for their reference. a NC member, an ERCC member
policies and governance practices, as and a RC member; and
well as StarHub’s corporate culture and In addition, the Directors are free to • Ms Rachel Eng Yaag Ngee, an
the key developments in the Group and conduct independent or collective independent Director, was appointed
industry. The induction programme also discussions with Management and as the NC Chairman, succeeding
includes meetings with the CEO and subject matter experts on any area Mr Peter Seah Lim Huat.
Senior Management. of interest or concern. Where needed,
operational site visits are organised Mr Tan Tong Hai, the Group CEO,
To ensure that all Directors have relevant to enable the Directors to have remains the sole executive Director
information and up-to-date working a clear understanding of issues faced on the Board.
knowledge of the Group’s business by the Group.
and operations, each Director is issued The independent Directors on
with a tablet which enables him or her BOARD COMPOSITION the Board are Mr Ma Kah Woh,
to access the StarHub Board Portal. AND GUIDANCE Mr Nihal Vijaya Devadas Kaviratne CBE,
The StarHub Board Portal is specifically Currently, the Board comprises 11 Ms Rachel Eng Yaag Ngee, Mr Teo Ek
designed to provide information in Directors. During FY2016, Mr Robert J. Tor and Mr Liu Chee Ming, representing
accordance with the principles and Sachs stepped down from the Board more than one-third of the Board. The
guidelines of the Code including: as an independent Director on Chairman, Mr Steven Terrell Clontz, is
30 December 2016, after having served not an independent Director within the
• information on Directors’ duties and on the Board for 11 years. After the end meaning of the Code given his executive
how to discharge those duties; of FY2016, Mr Peter Seah Lim Huat and position at Singapore Technologies
• the contact details of the Board and Mr Sio Tat Hiang stepped down from Telemedia Pte Ltd.
Senior Management; the Board as non-executive Directors
• the terms of reference of the on 1 January 2017, after having served The individual profile of the Directors
respective Board Committees; and on the Board for 14 years and 4 years and all principal directorships and
• the insider trading policy and respectively. The Board thanks Mr Sachs, chairmanships in any listed companies
Directors’ share trading policy Mr Seah and Mr Sio for their past held by the Directors currently and in
of StarHub. service and invaluable contributions the preceding three years, are found in
to the Group. the ‘Board of Directors’ and ‘Directors’
The Board encourages the Directors Particulars’ sections of the Annual Report.
to continually develop and refresh As part of StarHub’s ongoing renewal
their knowledge and skills, and of the Board, Mr Stephen Geoffrey The NC rigorously reviews the
keep themselves abreast of relevant Miller was appointed to the Board independence of each non-executive
developments in the Group’s business as a non-executive Director, the Director annually, particularly those who
and the regulatory and industry-specific RC Chairman, a SC member and an have served more than nine years. As
environments in which the Group ERCC member in January 2017. The at 1 January 2017, three independent
operates. The Company Secretary following changes to the Board also Directors, namely Mr Nihal Vijaya
facilitates the arrangement of internal took effect in January 2017: Devadas Kaviratne CBE, Mr Teo Ek Tor
briefings as well as external seminars and Mr Liu Chee Ming, have served on
and trainings for the Directors (including • Mr Steven Terrell Clontz was the Board for more than nine years. The
those conducted by StarHub’s panel of appointed as a NC member; NC recommends, and the Board takes
law firms and the Singapore Institute of • Mr Ma Kah Woh, an independent the view, that the key consideration
Directors in conjunction with the Director, was appointed as a RC in ascertaining the effectiveness of a
SGX-ST). In addition, the Company member; Director’s independence is his ability
Secretary and members of Senior • Mr Peter Seah Lim Huat stepped to exercise independence of mind
Management also provide regular down from the Board and ceased to and objectivity of judgement to act
updates to keep the Directors abreast be the NC Chairman and the ERCC honestly and in the best interest of the
of relevant developments, including: Chairman (as well as a NC member Group. When assessing objectivity and
independent judgement, the NC and the the review procedures, the IPT terms international), knowledge, gender,
Board consider, inter alia, the approach, and pricing are to be (a) consistent culture and nationality. It encourages
character and attitude of each non- with StarHub’s usual business practices robust and quality deliberations among
executive Director, including whether and policies and no more favourable the Directors, and mitigates ‘group
such Director: to the interested persons than those thinking’ in decision-making. The Board
extended to unrelated third parties; and enjoys the unique contribution that each
• is free from any interest and any (b) fair and reasonable. StarHub will also Director brings to the development of
business or other relationship consider factors such as specification the overall strategy of the Group by way
which could, or could reasonably compliance, track record, experience of alternative perspectives and fresh
be perceived to, interfere with and expertise, as well as preferential challenges during discussions. The
the exercise of the Director’s rates/discounts for bulk purchase. An immense network of contacts across the
independent business judgement authorised senior officer who does not industries which such diversity provides
with a view to the best interests of have any conflict of interest in relation has proven invaluable to StarHub.
the Group; and to the IPT will determine whether the
• has any material contractual price and terms are fair and reasonable. The Chairman and Directors support
relationship with the Group other Where possible, competitive quotations the CEO in stakeholder engagements,
than as a Director. or tenders for purchase transactions including with shareholders, business
are procured. partners and regulators.
After careful rigorous review, the NC
recommends, and the Board is of the In FY2016, there were no IPTs or In furtherance of their duties,
firm view, that Mr Nihal Vijaya Devadas related party transactions that can be the Directors are given access to
Governance
Kaviratne CBE, Mr Teo Ek Tor and Mr classified as financial assistance to independent professional advice at
Liu Chee Ming have each demonstrated entities other than StarHub’s wholly- StarHub’s expense should they deem
the essential independence of mind and owned subsidiary companies as well as such advice necessary. At least once
objectivity of judgement to act honestly associated company, SHINE Systems a year, non-executive Directors meet
and in the best interests of the Group in Assets Pte. Ltd.. to discuss, inter alia, Management’s
the discharge of their Directors’ duties, performance without the presence of
and therefore considers them to be StarHub does not provide loans to Management.
independent. Directors as a matter of corporate
policy and therefore no loans have CHAIRMAN AND CEO
Any Director who has an interest or been provided by StarHub to the In StarHub, there is a clear division
relationship which is likely to impact Directors in FY2016. in responsibilities between the
on his/her independence or conflict leadership of the Board and
with a subject under discussion by the The Board, through the NC, annually Management. The Chairman and
Board is required to immediately declare examines its size and composition to the CEO of StarHub are separate
his/her interest or relationship to the ensure its overall effectiveness. Given persons, ensuring an appropriate
Board, remove himself/herself from the scope and nature of the Group’s balance of powers, increased
the information flow, and abstain from operations, the Board is of the view that accountability and greater capacity
participating in any further discussion or its current size of 11 is conducive and for the Board to make independent
voting on the subject matter. facilitates effective decision-making. decisions. No one individual holds
In this regard, the Board has also considerable concentration of power
Interested person transactions (IPTs) taken into account the complexity and within the Group.
entered into by any of the entities requirements of the Group’s business.
in the Group are governed by the The Chairman is Mr Steven Terrell
Shareholders’ Mandate for Interested The Board consists of Directors who are Clontz, who is a non-executive Director
Person Transactions as approved by business leaders and professionals of and unrelated to the CEO. He:
shareholders each year at StarHub’s high calibre and integrity. They possess
EGM, as well as the disclosure and a broad range of core competencies • leads the Board to ensure its
shareholder approval requirements and experience in banking, accounting effectiveness on all aspects
under Chapter 9 of the SGX-ST and finance, legal, regulatory, technical, of its role;
Listing Manual. Review procedures business and industry knowledge, • sets the agenda and ensures that
have been established by StarHub to management and strategic planning adequate time is available for
ensure that all IPTs are undertaken experience, and customer-based discussion of all agenda items, in
on an arm’s length basis and on experience and knowledge. The particular strategic issues;
normal commercial terms, and are not Board, as a group, constantly seeks • promotes a culture of openness and
prejudicial to the interests of StarHub to maintain an appropriate mix of constructive debate at the Board;
and its minority shareholders. Under expertise, experience (both local and • ensures that the Directors receive
continued
complete, adequate and timely • Ms Rachel Eng Yaag Ngee, NC appointed by the Board during the
information. He works with the Chairman and independent Director financial year are required to retire and
CEO in relation to the Board’s (appointed to the NC with effect stand for election by shareholders at
requirements for information in from 1 January 2017) the first AGM of StarHub after their
order to contribute effectively to the • Mr Steven Terrell Clontz, non- appointment. The Code requires all
Board decision-making process; executive Chairman of the Board Directors to retire and stand for
• encourages effective (appointed to the NC with effect re-election by shareholders at least
communication with shareholders; from 1 January 2017) once in every three-year period.
• encourages constructive relations • Mr Teo Ek Tor, independent Director
within the Board and between the The NC reviews and considers the
Board and Management. As the During FY2016, the NC held 3 meetings. independence of each Director on an
primary link between the Board annual basis. If the NC considers that a
and Management, he provides The Board notes that Mr Steven Terrell Director is independent notwithstanding
continuity between Board meetings Clontz is not considered independent the existence of specific relationships or
and thereby oversees the effective within the meaning of the Code in circumstances mentioned in the Code,
implementation of the Board’s view of his executive role at Singapore it provides its view to the Board for the
decisions; Technologies Telemedia Pte Ltd. Board’s determination. The NC will
• facilitates the effective contribution However, after due consideration, the consider factors such as the Director’s
of non-executive Directors; and Board and the NC are of the view that his independent business judgement,
• promotes high standards of appointment does not interfere with the objectivity, integrity and conduct in
corporate governance. exercise of his independent judgement acting honestly in the best interests of
on the Board or prevent him from acting the Group. Conversely, the NC has the
The CEO is Mr Tan Tong Hai. He leads objectively in the best interests of the discretion to consider that a Director is
the Management and is responsible for Group in carrying out his duties. The not independent even in the absence of
the day-to-day running of the Group’s Board and the NC further note that Mr specific relationships or circumstances
business operations as well as the Clontz is not involved in the day-to- mentioned in the Code, and will similarly
effective implementation of the Group’s day running of the Group’s business provide its views to the Board for the
strategies and policies. and operations, and is independent of Board’s determination. The NC has
Management, with a clear separation considered and is of the view that all the
The Board does not have a lead of role between Management and the independent Directors are sufficiently
independent Director. The NC and deliberations of the NC. independent and are able to objectively
the Board are of the view that the exercise their judgement in the best
appointment of a lead independent In proposing a Director as a candidate interests of the Group.
director is not necessary as the for appointment or re-election, the
Board has sufficient independence NC considers several factors, including Directors with multiple board
given that: (a) the Chairman and the the composition, the diversity and the representations and/or other principal
CEO are separate persons; (b) the need for progressive renewal of the commitments (as defined in the Code)
Chairman and the CEO are not family Board, each candidate’s competencies, must ensure that they are able to
members; (c) the Chairman is not part commitment, contribution and devote sufficient time and attention
of the Management team; and (d) the performance (including attendance, to the affairs of StarHub to adequately
Directors are able to exercise objective preparedness, participation and carry out their duties as Directors of
and independent judgement. candour) as well as potential conflicts StarHub. The NC has reviewed the
of interest. This is to ensure that an individual performance of each Director
BOARD MEMBERSHIP appropriate balance of skills, experience, and is satisfied that all Directors have
StarHub has instituted a formal and expertise and diversity is maintained on dedicated adequate time to the affairs of
transparent process for the selection, the Board, enabling the Board to stay StarHub and have properly discharged
appointment and re-appointment of engaged and agile in meeting the needs their duties for FY2016, and will continue
Directors to the Board. To this end, the of the Group. External consultants to do so in the financial year ending
Board has established the NC to lead are engaged to assist with the 31 December 2017. Although no
and facilitate this process with written selection process if necessary. All new maximum limit has been formally
terms of reference that clearly set out appointments to the Board are subject set by the Board on the number of
its authority and duties. to the approval of StarHub’s regulator, listed company board representations
namely the Info-communications Media a Director with multiple board
Currently, the NC comprises the Development Authority of Singapore. representations may hold, the NC is of
following non-executive Directors, the view that the duties of all Directors
who are independent of Management: In accordance with StarHub’s have been fully discharged based on
Constitution, all Directors who are the time and attention devoted by each
Director, their individual abilities and key areas and individual interviews the Group, and regular analysts’ reports
their respective individual contribution with each Director were carried out. and media articles on StarHub and
of skills, knowledge and experience and the industry. Collectively, such reports
their commitment to the affairs The annual review process facilitates enable the Directors to constantly keep
of StarHub. consideration by the Board of its abreast of key issues and developments
membership, including renewal in the industry as well as challenges
The Board does not have any alternate considerations. The results of the and opportunities for the Group,
Directors. All Directors dedicate their performance evaluation exercise are thereby facilitating informed and
personal time and attention to the affairs collected, analysed and presented sound decisions.
of StarHub. to the NC, in consultation with the
Chairman. The NC reviews and Independent of the information
BOARD PERFORMANCE recommends to the Board the follow- provided to the Directors as described
StarHub believes that Board up actions required to strengthen the above, Management is available at all
performance is ultimately reflected in Board’s leadership so as to improve the times to answer any queries raised
the performance of the Group. effectiveness of the Board’s oversight by the Directors. Frequent dialogue
The NC has the responsibility of of StarHub. Where appropriate, and interactions take place between
assessing the effectiveness of the Board Management may also be involved in Management and the Directors.
as a whole, and the contribution of the the review process, and will assist in Consequently, the Directors are able
Board Committees and each Director to implementing the necessary measures. to gain a deeper understanding of
the effectiveness of the Board. StarHub’s operations and information,
The awards and accolades that StarHub allowing them to better strategise and
Governance
For FY2016, the Board engaged the has received from the investment guide StarHub in their role as Directors.
assistance of Aon Hewitt Singapore community are testament to sound
Pte Ltd (Aon Hewitt) as independent corporate governance. In FY2016, Furthermore, the StarHub Board Portal
external consultants to facilitate the StarHub was ranked eighth in the allows the Directors to securely access
annual review of the performance of list of the world’s most sustainable and read Board and Board Committee
the Board and the Board Committees. company according to the 2016 papers and materials electronically using
The review process identifies key Corporate Knights’ Global 100 index, tablet devices provided by StarHub at
issues pertaining to the effectiveness, and the significant awards received their convenience.
efficiency and functioning of the by StarHub include the Gold – Best
Board and the Board Committees, Investor Relations Award (Companies The Directors have separate and
in particular: with at least S$1 billion in market independent access to the Company
capitalisation) as well as the Winner Secretaries, who are trained in legal
• the adequacy of the Board – Most Transparent Company Award and company secretarial practices.
composition, including the (Telecommunications and Utilities The Company Secretaries attend all
Board size, the degree of Board Category) in the Singapore Corporate Board meetings and are responsible
independence and the mix and Awards 2016 and the Merit – Singapore for ensuring that board procedures are
diversity of skills, experience and Corporate Governance Award (Big Cap followed and that applicable rules and
knowledge of the Board; Category) in the SIAS 17th Investors’ regulations are complied with. Under
• information management and Choice Award. the direction of the Chairman, they
Board processes, including level facilitate good information flows within
and timeliness of information ACCESS TO INFORMATION the Board and its Board Committees,
provided to the Board; At least three (3) business days prior between the Board and Management,
• integrity and corporate social to each Board and Board Committee and advise the Board on all legal and
responsibility of the Board; meeting, Management provides the corporate governance matters. The
• managing StarHub’s performance; Directors with timely information that Company Secretaries also facilitate the
• the effectiveness of Board is relevant to matters on the agenda orientation of new Directors and assist in
Committees; for the meeting, except for sensitive arranging professional development and
• CEO performance and succession matters to be tabled at the meeting training for the Directors as required.
planning; itself. All sensitive Board materials that The appointment and the removal of the
• Director’s training and development; are communicated electronically are Company Secretaries are subject to the
and password-protected to safeguard Board’s approval.
• risk management. security. Throughout the financial
year, the Board also receives monthly
As part of the evaluation process, management and financial reports
detailed questionnaires were completed providing updates on key performance
by each Director, with feedback on the indicators and a financial analysis of
continued
2. REMUNERATION MATTERS review and recommend the following to and recommending the grant of
PROCEDURES FOR DEVELOPING the Board for endorsement: share awards to Directors and key
REMUNERATION POLICIES management personnel for the
• the general remuneration framework Board’s approval;
The Board has instituted a formal and and specific remuneration packages • assessing and approving candidates
transparent procedure for developing for key management personnel (as for key appointments; and
policies on executive remuneration and defined in the Code); and • overseeing the development
determining the remuneration packages • the remuneration framework for of Management and reviewing
of individual Directors. The Board has each Director (including Director’s succession plans for key positions in
established the ERCC to ensure that this fees, allowances and share-based the Group.
is duly implemented. awards).
All decisions by the ERCC are made by a
Currently, the ERCC comprises the When reviewing and recommending majority of votes of the ERCC members
following non-executive Directors, the remuneration framework and present and voting.
who are independent of Management, packages, the ERCC covers all aspects of
with the ERCC Chairman being an remuneration including but not limited No ERCC member or any Director is
independent Director: to Director’s fees, salaries, allowances, involved in deliberations in respect
bonuses, options, share-based of any remuneration, compensation,
• Mr Teo Ek Tor, ERCC Chairman and incentives and awards, and benefits in share-based incentives or any form of
independent Director (appointed as kind. The framework and packages are benefits to be granted to such individual,
the ERCC Chairman with effect from linked to: or where there are conflicts of interests.
1 January 2017) The CEO is present at all ERCC
• Mr Stephen Geoffrey Miller, • the performance of StarHub, the discussions on the compensation and
non-executive Director Group and the relevant individual; incentive policies for StarHub’s key staff,
(appointed to the ERCC with • industry practices and compensation such as share awards, bonus framework,
effect from 1 January 2017) norms; and salary and other incentive schemes,
• Mr Lim Ming Seong, • the need to attract key management save for ERCC discussions which relate
non-executive Director personnel in order to ensure the to the CEO’s own compensation, terms
continuing development of talent and conditions of service or the review
During FY2016, the ERCC held and the renewal of strong leadership of his performance, of which he
5 meetings. for StarHub. absents himself.
The Board notes that Mr Stephen With regards to the CEO and key The ERCC has access to expert
Geoffrey Miller and Mr Lim Ming Seong management personnel, the ERCC professional advice on remuneration
are not considered independent within ensures that the remuneration paid of the Board and executives. The ERCC
the meaning of the Code in view of to them is strongly linked to the has appointed Carrots Consulting Pte
Mr Miller’s executive role and Mr Lim’s achievement of business and individual Ltd (Carrots) and Aon Hewitt as its
directorship at Singapore Technologies performance targets. The performance remuneration consultants for FY2016
Telemedia Pte Ltd. However, after due targets are determined by the ERCC and is satisfied that the independence
consideration, the Board and the NC based on realistic yet stretched levels and objectivity of Carrots and Aon
are of the view that such appointments each year to motivate them to achieve Hewitt are not affected by any
do not interfere with the exercise of a high degree of business performance relationship between StarHub and each
independent judgement by Mr Miller with emphasis on both short and long- of Carrots and Aon Hewitt respectively.
and Mr Lim on the Board or prevent term quantifiable objectives.
them from acting objectively in the The ERCC reviews StarHub’s obligations
best interests of the Group in carrying In addition, the ERCC oversees the arising in the event of termination of
out their duties. The Board and the following: an executive Director’s and/or any key
NC further note that Mr Miller and management personnel’s contracts of
Mr Lim are not involved in the day-to- • succession planning for the CEO, service, to ensure that such contracts
day running of the Group’s business the CFO and other key management of service contain fair and reasonable
and operations, and are independent personnel. Potential candidates for termination clauses. The ERCC aims
of Management, with a clear separation immediate, medium and long-term to be fair and avoid rewarding poor
of role between Management and the needs are identified each year; performance. Prior to any such
deliberations of the ERCC. • assessing and approving termination, the ERCC’s approval
performance share awards and is required.
In overseeing StarHub’s remuneration restricted stock awards under
policies, the ERCC’s key duties are to StarHub’s approved share plans, During FY2016, the ERCC engaged
Carrots to conduct a Pay-for- Restricted Stock Plan. This remuneration to hold a minimum number of shares
Performance Alignment Study. structure encourages non-executive in StarHub with a value equivalent to
The results showed that there was Directors to hold shares in StarHub so as the prevailing annual basic retainer
sufficient evidence indicating Pay-For- to better align the interests of the non- fee, or the aggregate of (a) the total
Performance Alignment for StarHub in executive Directors with the interests number of shares awarded as part of
both absolute and relative terms over of shareholders and the long-term their remuneration for the financial year
the three-year period from the financial interests of StarHub. ended 31 December 2011 and each
years 2013 to 2015. Additionally, the subsequent financial year thereafter and
ERCC also took into consideration the Cash Component (b) 50% of the total number of shares
challenges in the industry/market as well Each non-executive Director receives awarded from the financial year ended
as the job complexity and found the a basic retainer fee, attendance fee 31 December 2007 to 31 December
CEO’s total compensation to be aligned and travel allowance (for overseas 2010, whichever is lower. Non-executive
to the performance of StarHub. Carrots Directors). Non-executive Directors who Directors can only dispose of all their
also conducted a Compensation Risk perform additional services in Board shares in StarHub one year after ceasing
Assessment. The ERCC reviewed the Committees receive additional fees. The to be a Director. The number of shares
various compensation risks that may Board Chairman and the Chairman of to be awarded to a participating non-
arise and introduced mitigating policies each Board Committee also receive a executive Director will be determined
to better manage the risk exposure higher fee compared with the members by reference to the volume weighted
that was identified. The ERCC has been of the Board and the respective Board average price of a share on the SGX-ST
undertaking periodic reviews of the Committees, in view of their greater over the 14 trading days commencing
compensation-related risks. responsibilities. on the ex-dividend date that
Governance
immediately follows the forthcoming
LEVEL AND MIX Share Component AGM. The number of shares to be
OF REMUNERATION The restricted share awards consist of awarded will be rounded down to the
DISCLOSURE ON REMUNERATION the outright grant of fully-paid shares, nearest hundred, with cash to be paid in
Non-Executive Directors’ without any vesting conditions attached. lieu of the remaining shares arising.
Remuneration However, in order to encourage the
Non-executive Directors receive 70% alignment of the interests of the non- The non-executive Directors’
of their Directors’ remuneration in executive Directors and shareholders, remuneration for FY2016 will be
cash and the remaining 30% in share non-executive Directors who receive subject to shareholders’ approval at the
awards granted pursuant to the StarHub the restricted share awards are required upcoming AGM.
Table 2
Annual Fees for the Board
Board Chairman: $165,000
Non-Executive Director: $65,000
Additional Annual Fees for the Board Committees

Type of Committee Chairman Member
Audit Committee $43,000 $25,000
Strategy Committee $30,000 $16,000
Nominating Committee $24,000 $15,000
Executive Resource and Compensation Committee $30,000 $16,000
Risk Committee $30,000 $16,000
continued
Breakdown of Directors’ Remuneration

The following shows the composition of Directors’ remuneration for FY2016:
Executive Director’s Remuneration
Share-based
Fixed(1) Variable(2) Benefits(3) Compensation(4) Total
Name of Executive Director ($) ($) ($) ($) ($)
Tan Tong Hai 995,615 871,767 79,862 835,635 2,782,879
Non-Executive Directors’ Remuneration

Cash-based Share-based Total
Name of Non-Executive Directors ($) ($) ($)
Steven Terrell Clontz(a) 176,050.00 75,450.00 251,500.00
Ma Kah Woh 96,950.00 41,550.00 138,500.00
Peter Seah Lim Huat 110,250.00 47,250.00 157,500.00
Nihal Vijaya Devadas Kaviratne CBE 124,950.00 53,550.00 178,500.00
Teo Ek Tor 115,500.00 49,500.00 165,000.00
Sio Tat Hiang(a) 102,200.00 43,800.00 146,000.00
Lim Ming Seong 119,350.00 51,150.00 170,500.00
Liu Chee Ming 87,500.00 37,500.00 125,000.00
Rachel Eng Yaag Ngee 84,350.00 36,150.00 120,500.00
Nasser Marafih 75,950.00 32,550.00 108,500.00
Takeshi Kazami(a)(b) 58,100.00 – 58,100.00
Non-Executive Director who resigned during FY2016

Robert J. Sachs(c) 75,779.90 32,477.10 108,257.00
(1) Fixed refers to base salary, Annual Wage Supplement and fixed allowances earned for FY2016.
(2) Variable refers to incentives paid and accrued for the year pursuant to StarHub’s performance bonus scheme and Economic Value Added (EVA) scheme for FY2016.
StarHub’s performance bonus scheme is the “balanced scorecard” scheme used to determine the annual performance bonuses payable to StarHub’s employees.
The EVA scheme rewards StarHub’s employees for sustainable shareholder value creation over the medium term, with alignment to StarHub’s strategic business
objectives. Under the EVA scheme, each of StarHub’s employees is given clear objectives on his personal scorecard, which are aligned to StarHub’s overall strategic
objectives of growth and profitability, creating customer value, operational efficiency, excellence and optimal customer management, and developing a motivated
and well-trained workforce. A notional EVA bank account is set up for each senior executive, into which the annual EVA performance bonus earned by him for each
year is credited. One-third of the total amount in his EVA bank account is payable annually at a later date in the following financial year, and the remaining balance
in his EVA bank account is payable to him upon his resignation or termination of employment (other than for cause), subject to certain conditions being met. The
balance in the EVA bank account will increase or decrease depending on StarHub’s EVA performance in subsequent years.
(3) Benefits are stated on the basis of direct costs to StarHub, and include tax equalisation, housing and other non-cash benefits such as leave, medical scheme and
club membership.
(4) Shares awarded to the Executive Director, Mr Tan Tong Hai, under the StarHub Restricted Stock Plan (RSP) and the StarHub Performance Share Plan (PSP) are
subject to pre-determined performance targets set over a two-year and three-year performance periods respectively. The figures shown are based on the fair
value of the shares at 100% of each of the RSP and PSP conditional awards. They may not be indicative of the actual value at vesting which can range from 0% to
150% of the RSP conditional award and 0% to 182.5% of the PSP conditional award. Over the last two financial years 2014 and 2015, the average number of shares
vested to participants of the RSP and the PSP has been less than 100% of the conditional awards granted.
(a) Fees are payable to Director’s employer company.
(b) Mr Takeshi Kazami had declined the share award and will only receive the cash component of his remuneration. Mr Kazami holds no shares in StarHub.
(c) Mr Robert J. Sachs stepped down from the Board and ceased to be a SC member with effect from 30 December 2016. For Mr Sach’s remuneration in respect of
FY2016, he will receive $75,779.90 in cash and $32,477.10 in the form of share award granted pursuant to the RSP.
(d) Mr Stephen Geoffrey Miller was appointed as a non-executive Director, a SC member and an ERCC member with effect from 1 January 2017. Mr Miller was
appointed as the RC Chairman with effect from 10 January 2017, succeeding Mr Teo Ek Tor.
Details of the share awards granted by StarHub to the non-executive Directors under the StarHub Restricted Stock Plan can be
found in the Directors’ Statement.
CEO/Executive Director and Key The target AVB for the CEO and key C. Share-based Compensation:
Management Personnel Remuneration management personnel is pre-set StarHub Performance Share Plan (PSP)
The ERCC seeks to ensure that the level at a fixed percentage of their annual The PSP serves as a long-term
and mix of remuneration for the CEO base salary, and is adjusted based on incentive to motivate the key
and key management personnel are the Group’s performance at the end management personnel to strive
competitive and relevant, aligned with of each financial year. The final AVB for superior performance and to
shareholders’ interests and promote the payout can range from 0 to 1.5 times align their interests with that of
long-term success of the Group. of the target payout. shareholders.
Remuneration for the CEO1 and key EVA Incentive Plan (EIP) Pursuant to the PSP, the ERCC has
management personnel comprises The EIP rewards employees for decided to grant contingent awards
a fixed component, variable cash sustainable shareholder value on an annual basis, conditional
component, share-based component creation over the medium-term on meeting targets set for a three
and market-related benefits: achieved by growing profits, year performance period. The
deploying capital efficiently and performance measures used in
A. Fixed Component: managing the risk profile and PSP grants during FY2016 are:
The fixed component comprises risk time horizon of the Group’s
the base salary, Annual Wage business. A portion of the annual • Relative TSR against the MSCI
Supplement and fixed allowances. performance-related bonus of the Asia Pacific Telecommunications
key management personnel is tied to Index (including Japan); and
B. Variable Cash Component: the EVA achieved by the Group in the
Governance
The variable cash component financial year. • Absolute Total Shareholder Return
includes the Annual Variable Bonus (TSR) against Cost of Equity
and Economic Value Added (EVA) Under the EIP, one-third of the hurdles (i.e. measure of Wealth
Incentive Plan. accumulated EVA performance Added).
bonus, comprising the EVA
Annual Variable Bonus (AVB) performance bonus declared for the A minimum threshold performance is
The AVB is a cash-based incentive current financial year and the balance required for any performance shares
for the CEO and key management brought forward from preceding to be released to the recipient at
personnel, which is linked to the financial years, is paid out in cash the end of the performance period.
achievement of annual performance each financial year. The remaining The actual number of performance
targets. two-thirds are carried forward in shares released will depend on the
the individual key management achievement of set targets over
Individual performance objectives personnel’s EVA bank account. The the performance period. For the
are set at the beginning of each balance in the EVA bank account performance measure of Absolute
financial year. The objectives are will increase or decrease depending TSR, the achievement factor
aligned to the overall strategic, on StarHub’s EVA performance in ranges from 0 to 2.0 times of 65%
financial and operational goals of the subsequent years. This mechanism of the conditional award. For the
Group, and are cascaded down to encourages the CEO and key performance measure of Relative
a select group of key management management personnel to work for TSR, the achievement factor ranges
personnel using scorecards, creating sustainable EVA generation and to from 0 to 1.5 times of 35% of the
alignment between the performance adopt strategies that are aligned with conditional award.
of the Group, the Company and the the long-term interests
individual. While the performance of the Group. The final PSP award is conditional on
objectives are different for each the vesting of the shares under the
executive, they are assessed on the Based on the ERCC’s assessment Restricted Stock Plan (RSP) which have
same principles across the following that the actual performance of the the same performance end period.
four broad categories of targets: Group in FY2016 had partially met
the pre-determined targets, the The Group has attained an
• Business; resulting annual payout under EVA achievement factor which is
• Customer; was adjusted accordingly to reflect reflective of not meeting the pre-
• Process; and the performance level achieved. determined target performance
• People. levels for PSP awards granted based
on the performance period for the
financial years from 2014 to 2016.
(1) As an executive Director, the CEO is remunerated as a key management personnel of StarHub. He does not receive Directors’ fees for his Board directorship
with StarHub.
continued
StarHub Restricted Stock Plan (RSP) Table 3

The RSP is established with the Share-based
objective of motivating managers Fixed(1) Variable(2) Benefits(3) Compensation(4) Total Remuneration
(%) (%) (%) (%) (%) bands(5)
and key talent to strive for sustained
Dennis Chia 49 28 4 19 100 B(6)
long-term growth and superior
Kevin Lim 51 20 5 24 100 B
performance of the Group. It also
Howie Lau 59 16 6 19 100 A(6)
aims to foster a share ownership
Jeannie Ong 51 21 4 24 100 A
culture among employees within
Mock Pak Lum 56 19 5 20 100 A
the Group and to better align
employees’ incentives with Total $4,778,256
shareholders’ interests. (1) Fixed refers to base salary, Annual Wage Supplement and fixed allowances earned for FY2016.
(2) Variable refers to incentives paid and accrued for the year pursuant to StarHub’s performance bonus
scheme and Economic Value Added (EVA) scheme for FY2016. StarHub’s performance bonus scheme is
Pursuant to the RSP, the ERCC the “balanced scorecard” scheme used to determine the annual performance bonuses payable to StarHub’s
has decided to grant contingent employees. The EVA scheme rewards StarHub’s employees for sustainable shareholder value creation over
awards on an annual basis, the medium term, with alignment to StarHub’s strategic business objectives. Under the EVA scheme, each
of StarHub’s employees is given clear objectives on his personal scorecard, which are aligned to StarHub’s
conditional on targets set for a overall strategic objectives of growth and profitability, creating customer value, operational efficiency,
two-year performance period. The excellence and optimal customer management, and developing a motivated and well-trained workforce.
A notional EVA bank account is set up for each senior executive, into which the annual EVA performance
performance measures, set based on bonus earned by him for each year is credited. One-third of the total amount in his EVA bank account is
the Group corporate objectives, are: payable annually at a later date in the following financial year, and the remaining balance in his EVA bank
account is payable to him upon his resignation or termination of employment (other than for cause), subject
to certain conditions being met. The balance in the EVA bank account will increase or decrease depending
• Return on Invested Capital (ROIC); on StarHub’s EVA performance in subsequent years.
and (3) Benefits are stated on the basis of direct costs to StarHub, and include tax equalisation, housing and other
• Earnings before Interest, Taxes, non-cash benefits such as leave, medical scheme and club membership.
(4) Shares awarded under the StarHub Restricted Stock Plan (RSP) and the StarHub Performance Share Plan
Depreciation and Amortisation
(PSP) are subject to pre-determined performance targets set over a two-year and three-year performance
(EBITDA). periods respectively. The figures shown are based on the fair value of the shares at 100% of each of the RSP
and PSP conditional awards. They may not be indicative of the actual value at vesting which can range from
0% to 150% of the RSP conditional award and 0% to 182.5% of the PSP conditional award. Over the last two
A minimum threshold performance is financial years 2014 and 2015, the average number of shares vested to participants of the RSP and the PSP
required for any restricted shares to be has been less than 100% of the conditional awards granted.
released to the recipient at the end of (5) Remuneration bands:
the performance period. The actual “A” refers to remuneration between $750,001 and $1,000,000 per annum
“B” refers to remuneration between $1,000,001 and $1,250,000 per annum
number of shares released will depend (6) Share-based compensation to Mr Dennis Chia and Mr Howie Lau excludes a one-off time-based
on the achievement of set targets over restricted award of 130,000 shares and 110,000 shares respectively.
the performance period, and will be
determined by the ERCC at the end If an executive Director or any key 3. STRATEGIC MATTERS
of the performance period, capped management personnel of StarHub is The SC supports, advises and provides
at 1.5 times of the conditional award. involved in fraud or misconduct, which direction to the Group on the
The shares will be released in equal results in a re-statement of StarHub’s formulation, review and execution of the
tranches over two consecutive years. financial results or financial loss to Group’s strategies. The mandate for the
StarHub, the Board may reclaim the SC includes:
The Group has attained an unvested components of remuneration
achievement factor which is reflective from such executive Director or • identifying and assessing significant
of not meeting the pre-determined key management personnel under intermediate and long-term
target performance level for RSP all incentive plans for the relevant opportunities (in terms of new
awards granted based on the period, to the extent such incentive frontiers of organic and inorganic
performance period for the financial has been earned but not yet released growth) and threats in the Group’s
years from 2015 to 2016. or disbursed. The Board, taking into business areas and operations
account the ERCC’s recommendation, (including technology, competition,
D. Market-related Benefits: may decide whether and to what extent, regulatory and financial) and the
The benefits provided are comparable such recoupment of the incentive is industry; and
with local market practices. appropriate, based on the specific facts • providing constructive input and
and circumstances of the case. recommendations to the Board on
The details of the top five any strategic matter reviewed by
key management personnel During FY2016, no employee of the the SC which requires the Board’s
remuneration are set out in Table 3 (in Group whose remuneration exceeded approval.
bands of $250,000 and percentage $50,000 per annum was an immediate
terms for the services rendered by family member of any Director or Currently, the SC comprises non-
them to the Group for FY2016). the CEO. executive Directors and a co-opted
member who are independent of RISK MANAGEMENT AND containment; and

Management. The members are: INTERNAL CONTROLS • to set and instill in StarHub an
The Board takes responsibility for the appropriate risk-aware culture for
• Mr Nihal Vijaya Devadas Kaviratne governance of risks and to this end, effective risk governance.
CBE, SC Chairman and has established and maintains a sound
independent Director system of risk management and internal In addition, the AC also has the mandate
• Mr Steven Terrell Clontz, controls to safeguard shareholders’ to monitor the system of internal controls
non-executive Chairman interests and StarHub’s assets. (including financial controls, operational
of the Board controls which impact financial controls,
• Mr Stephen Geoffrey Miller, non- The RC assists the Board in its discharge compliance with accounting and
executive Director (appointed to the of this responsibility. Currently, the RC listing rules and regulations, as well as
SC with effect from 1 January 2017) comprises the following Directors: information technology controls relating
• Mr Lim Ming Seong, to financial systems).
non-executive Director • Mr Stephen Geoffrey Miller,
• Mr Liu Chee Ming, RC Chairman (appointed as the The Board, upon recommendation
independent Director RC Chairman with effect from by the RC, approved a Risk Appetite
• Mr Nikhil O. J. Eapen, 10 January 2017) Statement to provide guidance to
co-opted SC member • Mr Tan Tong Hai, Management on key risk parameters.
CEO and executive Director StarHub is committed to upholding high
During FY2016, the SC held 4 meetings. • Mr Ma Kah Woh, independent standards of corporate governance and
Director (appointed to the RC with applying consistent and effective risk
Governance
effect from 1 January 2017) management to enhance shareholder
4. ACCOUNTABILITY AND AUDIT value. The Group faces a variety of
ACCOUNTABILITY Note: internal and external risks due to
(1) Mr Teo Ek Tor ceased to be the RC Chairman
The Board provides a balanced and complex business operations and the
(and a RC member) with effect from
informed assessment of the Group’s 10 January 2017. dynamic and competitive market in
performance, position and prospects which it operates. The Group recognises
to shareholders in the Group’s quarterly During FY2016, the RC held 2 meetings. risk management as an optimisation
and full-year operating performance and of the risk-reward relationship, within
financial results which are released via The RC has the following mandate: known and agreed risk appetite levels.
SGXNET, together with the associated The Group will manage or avoid
press releases and presentation slides • to review and recommend to the situations or actions that risk having a
relating to the financial results. Board the type and level of business negative impact on its reputation and
risk that the Group undertakes in brand, network integrity and business
For the quarterly financial statements, achieving its business strategy, and continuity. StarHub seeks to treat its
the Board provides a negative assurance the appropriate risk management customers reasonably and fairly. StarHub
confirmation to shareholders, in line framework and policies for requires its staff to uphold integrity.
with the requirements of the SGX-ST managing risks that are consistent StarHub also seeks to meet applicable
Listing Manual. For FY2016, the CEO with StarHub’s risk appetite; legal and regulatory requirements. The
and the CFO have provided assurance • to provide oversight in the design, Group is prepared to take measured
to the Board on the integrity of the implementation and monitoring of risks to seek new growth and pursue
financial statements for the Group. the risk management framework, value-creation opportunities as they
StarHub recognises that prompt and and system of internal controls arise, while leveraging its current scale
full compliance with statutory reporting (including operational, compliance and core strengths.
requirements is imperative in maintaining and information technology
shareholder confidence and trust. controls), and to ensure that The RC is assisted by the Management
Management puts in place action Risk Committee (MRC), comprising
Management updates the Board with plans to mitigate the identified risks relevant members of Senior
monthly management and financial where possible; Management. The MRC oversees,
reports which explain StarHub’s • to review the adequacy and co-ordinates and monitors the
performance (in comparison with its effectiveness of StarHub’s risk implementation of the enterprise-
forecasted performance and budget) management system and system wide risk management policies and
and financial position on a timely basis. of internal controls (including procedures across the Group, including
Other related business reports are also operational, compliance and the Group’s insurance programme
provided to the Board regularly and information technology controls); and the facilitation of self-assessment
upon request by the Board from time • to review policies and procedures exercise required of significant business
to time. for timely risk identification and units on an annual basis. The MRC
continued
also proactively identifies existing and by audit findings of the external and key responsibilities include:
emerging significant risks, and manages internal auditors and the relevant
them at the enterprise level within assurance from the CEO and the CFO, • reviewing and approving quarterly
StarHub on an ongoing basis. The MRC the Board (with the concurrence of and year-end financial results
reports to the RC on a regular basis. the AC and the RC) is of the opinion announcements and financial
that the risk management system and statements, before recommending
The RC has authority to investigate any internal controls of the Group are to the Board for approval;
matter within its terms of reference, and adequate and effective to address the • monitoring compliance with relevant
has full access to and co-operation from financial, operational, compliance and statutory and listing requirements to
Management. The RC will also have information technology risks as well as ensure the integrity of the Group’s
full discretion to invite any Director or risk management objectives which the financial statements, including the
executive officer to attend its meetings, Group considers relevant and material relevance and consistency of the
and to require Management to provide it to its current business environment and accounting principles adopted;
with reasonable resources to enable it to scope of operations. • reviewing and reporting to the Board
discharge its functions properly. at least annually on the adequacy
The Board notes that the system of and effectiveness of StarHub’s
In terms of internal controls, internal controls and risk management internal controls (including financial
independent audits are conducted established by the Group provides controls, operational controls
by the external and internal auditors reasonable, but not absolute, assurance which impact financial controls,
on the effectiveness of the Group’s that the Group will not be adversely compliance with accounting and
key internal control systems. The AC affected by any event that can be listing rules and regulations, as well
is responsible for reviewing the audit reasonably foreseen as it strives as information technology controls
reports and assessing the effectiveness to achieve its business objectives. relating to financial systems);
of the actions taken by Management in However, the Board also notes that • reviewing the effectiveness of the
resolving any lapses or weaknesses in there is no system of internal controls Group’s internal audit function;
accordance with the recommendations and risk management that can provide • reviewing the scope and results of the
made by the external and internal absolute assurance in this regard or external audit, and the independence
auditors, and taking into account against the occurrence of material and objectivity of the external
Management’s views. errors, poor judgement in decision- auditors (taking into account the
making, human error, losses, fraud or nature, extent and cost of non-audit
For FY2016, the Board has received other irregularities. services provided by the external
written assurance from the CEO and auditors during the financial year);
the CFO that: (a) the financial records AUDIT COMMITTEE • reviewing interested person
of the Group have been properly Currently, the AC comprises the transactions to ensure compliance
maintained and the financial statements following non-executive Directors, with with the SGX-ST Listing Manual
give a true and fair view of the Group’s a majority (including the AC Chairman) and the Shareholders’ Mandate for
operations and finances; and (b) the risk being independent Directors: Interested Person Transactions that is
management and internal controls of renewable annually;
the Group are adequate and effective • Mr Ma Kah Woh, AC Chairman and • making recommendations to the
to address the financial, operational, independent Director Board on the proposals to the
compliance and information technology • Mr Nihal Vijaya Devadas Kaviratne shareholders for the appointment,
risks which the Group considers relevant CBE, independent Director re-appointment and removal of the
and material to its current business • Ms Rachel Eng Yaag Ngee, external auditors, and approving
environment and scope of operations. In independent Director the remuneration and terms of
addition, Management has implemented • Mr Lim Ming Seong, engagement of the external auditor;
an enhanced process to sign off non-executive Director • commissioning and reviewing
assurance to the CEO and the CFO, in findings of internal investigations into
order to enhance the current processes During FY2016, the AC held 4 meetings suspected fraud, irregularity, failure
for supporting the Board’s opinion on and met with the external auditors of internal controls or violation
the adequacy and effectiveness of the without Management at least once. of any law that is likely to have a
risk management system and internal material impact on the Group’s
controls of the Group. The AC members are appropriately results; and
qualified to discharge their • reviewing reports made under
Based on the risk management system responsibilities and collectively StarHub’s Whistle Blowing Policy,
and internal controls established and have strong accounting and related and where appropriate, directing the
maintained by the Group, the reviews financial and legal management investigation of such matters and the
performed by Management as supported expertise and experience. The AC’s follow-up of any actions to be taken.
The significant areas of focus by the AC in relation to the financial statements for The AC has explicit authority to
FY2016 are outlined below. These areas were discussed with the external auditors, investigate any matter within its terms
KPMG LLP, during the review and approval by the AC of their audit plan. During of reference, with full access to and
the year, Management kept the AC updated on the status of these areas and at the co-operation from Management.
conclusion of their audit, the AC reviewed and discussed with the external auditors the The AC also has full discretion to invite
results of their work and conclusions on these areas. These areas have been addressed any Director or executive officer to
by the external auditors in their Independent Auditors’ Report on pages 140 to 146 of attend its meetings, and to require
the Annual Report. Management to provide it with
reasonable resources to enable it to
Significant Areas How the AC reviewed these areas and what decisions were made discharge its functions properly.
Revenue The external auditors shared their approach to the audit of revenue
The AC has performed a review of the
recognition in their audit plan, which identified the primary risk attaching to the
revenue recognition to be the complexities in the telecommunication independence and objectivity of the
systems and their related reporting systems from which information is external auditors, as well as the volume
generated for revenue recognition. The external auditors reported on and type of non-audit services provided
the results of their audit work in this area to the AC and elaborated on by the external auditors during FY2016.
this matter as a key audit matter (KAM). The aggregate amount of external
The AC discussed the issues with Management and the external auditors auditors’ fees paid for FY2016 and the
in relation to the recognition of revenue. The AC was satisfied with the breakdown for the audit and non-audit
appropriateness of the revenue recognised in the financial statements services are set out in Note 21.3 to the
for FY2016 and agreed with the external auditors that the differences
Financial Statements of the Annual Report.
Governance
identified were not significant to the income statement for FY2016.
Accruals The basis of accruals required considerable judgement by Management Based on such review, the AC is
due to the complexities of the underlying business transactions and the satisfied that the independence of
time taken to agree on the final amounts for certain costs. The external
auditors have raised this as a KAM. the external auditors has not been
compromised by the provision of the
The AC queried Management and the external auditors on the non-audit services and that Rules 712
judgements and estimates involved in the accruals, and was satisfied that
and 715 of the SGX-ST Listing Manual
the amounts have been recorded appropriately as of 31 December 2016.
have been complied with. The external
Impairment This has been an area of focus by both Management and the external auditors have also confirmed their
assessment of auditors, given the materiality of the goodwill ($220.3 million as of
independence. Accordingly, the AC has
goodwill 31 December 2016) and the subjectivity involved in impairment
testing. The Group performs an annual impairment assessment on recommended to the Board that KPMG
goodwill, which requires determination of the recoverable amount LLP be nominated for re-appointment
of cash generating unit (CGU) based on value-in-use. This requires as the Group’s external auditors at the
Management to make significant judgements and estimates with upcoming AGM. To further maintain
regards to the computation of future cash flows, use of discount rates the independence of KPMG LLP, the AC
and other assumptions.
ensures that the audit partner in-charge
The AC reviewed the assessments from Management and the external of the Group is rotated every five years.
auditors, and queried the appropriateness of the assumptions made, Further, the Board ensures that a former
including the consistent application of Management’s methodology, the audit partner will not be appointed as
achievability of the business plans, assumptions in relation to terminal
growth in the businesses and the discount rates used. The AC also
an AC member of StarHub within 12
reviewed the stress testing of Management’s value-in-use calculation months upon his or her cessation as a
to ensure there is sufficient headroom over the carrying value of the KPMG LLP partner and for so long as
CGU. The AC was satisfied with the appropriateness of the analyses he or she has any financial interest in
performed by Management and had concurred that as of 31 December KPMG LLP. None of the Directors or
2016, no impairment of the goodwill allocated to the CGU was required. Senior Management is or has in the past
Valuation of trade The Group’s trade receivables include balances due from both two years been a former employee or
receivables corporate and retail customers. Management evaluates and provides partner of the Group’s external auditors.
allowances for the trade receivables on specific individual balances and
on the receivables portfolio collectively. The determination of allowance
for doubtful debts for trade receivables involves estimates about the
INTERNAL AUDIT
timing and collectability of past due debts, and the external auditors The internal audit function of the Group
have raised this as a KAM. for FY2016 was carried out by RSM Risk
Advisory Pte. Ltd., an independent firm.
The AC reviewed information provided by Management and the external
auditors in relation to the basis used as well as the specific doubtful The internal auditor is guided by the
debts to determine the level of allowance for doubtful debts, and Standards for the Professional Practice
was satisfied that as of 31 December 2016, the level of allowance for of Internal Auditing, prescribed by the
doubtful debts for the Group was adequate. Institute of Internal Auditors.
continued
The internal auditor reports to the information is central to good corporate elect to be notified of any new updates
AC functionally, and to the CEO and governance and assists shareholders to via an e-mail alert service. However,
the CFO administratively. The AC make informed investment decisions. new material price-sensitive information
approves the appointment, removal, such as financial results are released
evaluation and compensation of the All shareholders are entitled to attend via SGXNET before being posted on
internal auditor. The internal auditor has and vote at general meetings and are the StarHub IR website or before any
unfettered access to all of StarHub’s afforded the opportunity to participate media or analyst conferences are
documents, records, properties and effectively in the general meetings. conducted. This ensures fair and
personnel, including access to the AC. Shareholders are allowed to appoint non-selective disclosure of information
up to two proxies to attend, speak to all shareholders.
The internal auditor adopts a risk-based and vote in their place at general
auditing approach in developing the meetings. In view of the Companies Shareholders may direct their queries
annual internal audit plan, which focuses (Amendment) Act 2014, shareholders and concerns to the StarHub IR team
on material internal controls, including who are nominee companies, custodian at the contact particulars given at the
financial, operational, compliance and banks or CPF agent banks (Relevant StarHub IR website. The StarHub IR team
information technology controls, across Intermediaries) may appoint more than is also prompt in keeping Management
the Group’s business. The internal two proxies to attend, speak and vote at fully apprised of shareholder views and
audit plan is submitted to the AC for its the upcoming AGM and at subsequent sentiments.
review and approval at the start of each general meetings.
financial year. Periodic internal audit StarHub declares dividends on
reports are submitted to the AC detailing a quarterly basis, and informs its
the internal auditor’s progress in 6. COMMUNICATION WITH shareholders of the dividend payments
executing the internal audit plan and any SHAREHOLDERS in the respective quarterly and full year
major findings and corrective actions StarHub protects and facilitates the financial results announcements
taken by Management. exercise of shareholders’ rights. StarHub via SGXNET.
reaches out to its shareholders through
The AC conducts a review of the regular, effective and non-discriminatory
adequacy and effectiveness of the communication with shareholders. 7. CONDUCT OF
internal audit function annually, to SHAREHOLDER MEETINGS
ensure that StarHub maintains an StarHub provides regular and timely At general meetings, StarHub
effective internal audit function that is information to the investment encourages shareholder participation
adequately staffed and independent of community regarding the Group’s through active discussion at the
the audited activities. performance, progress and prospects question and answer session.
as well as major industry and corporate
During FY2016, the AC met with the developments and other relevant Notices of the AGM and the annual
internal auditor once without the information. StarHub solicits and reports are issued to all shareholders
presence of Management. considers the views of shareholders (including foreign shareholders) at least
via: (a) periodic analyst and media 21 days prior to the scheduled AGM. This
briefings throughout the year, (b) provides ample time for shareholders
5. SHAREHOLDER RIGHTS regular meetings between the CEO, to review the notice of AGM and annual
AND RESPONSIBILITIES the StarHub IR team and institutional reports before the AGM and appoint
StarHub respects shareholders’ rights investors through international road their proxies to attend the AGM if they
and promotes the fair and equitable shows and conferences organised by wish. As part of StarHub’s commitment
treatment of all shareholders. StarHub major brokerage firms and (c) third-party towards more environmentally-friendly
keeps all of its shareholders sufficiently perception studies on StarHub. and sustainable practices, electronic
informed of its corporate affairs and copies of annual reports (in the form of
activities, including any changes to Apart from SGXNET announcements a CD-ROM) are issued by default, with
StarHub or its business which may and the annual report, the StarHub hardcopies of annual reports available to
materially affect the price or value of IR website at www.starhub.com/ir, shareholders on request.
StarHub shares, on a timely basis. which is regularly updated, is the main
source of information for shareholders. All Directors (in particular the Chairman
All new material price-sensitive It houses all media releases, financial of the Board and the respective
information is disclosed on an adequate, results, annual reports, SGXNET Chairmen of the Board Committees)
accurate and timely basis via SGXNET, announcements, presentation materials, and Senior Management attend
which are also posted on the StarHub archived webcasts and conference calls, all general meetings to address
IR website. StarHub recognises that as well as other corporate information shareholders’ queries.
the release of timely and relevant relating to the Group. Investors may also
The external auditors are also present first three quarters of its financial share capital, the Board has decided
to address shareholders’ queries about year and ending on the date of to limit the mandate to 15% only. In
the conduct of audit and the preparation announcement of the relevant addition, for the specific mandate from
and content of the auditors’ report. results; and StarHub’s shareholders to allot and issue
Registered shareholders are invited to Shares under the StarHub Performance
attend and participate actively in such (b) commencing one month Share Plan and the StarHub Restricted
general meetings, including seeking prior to the announcement Stock Plan, the Board has decided to
clarification and/or querying the Group’s of the Group’s full year results limit the aggregate number of Shares
strategic direction, business, operations, and ending on the date of available for grant under the StarHub
performance and proposed resolutions. announcement of the Performance Share Plan and the
relevant results. StarHub Restricted Stock Plan to 8%
StarHub ensures that there will be of StarHub’s total issued share capital
separate resolutions at general meetings • All Management and employees (instead of the permitted 15% under
on each substantially separate issue. directly involved in the preparation the SGX-ST Listing Manual), taking into
Voting is carried out systematically of the Group’s quarterly and full year account any outstanding unexercised
and all resolutions passed are properly results are prohibited from dealing options and unvested share awards.
recorded. To enhance transparency in StarHub’s securities during the
and efficiency in the voting process period commencing one month WHISTLE BLOWING POLICY
and results, electronic poll voting is prior to the announcement of each StarHub takes a zero tolerance stance
conducted. The results showing the of the Group’s quarterly and full year towards fraud and ethical violations.
number of votes cast for and against results and ending on the date of As such, the Group has instituted a
Governance
each resolution and the respective announcement of the relevant results. robust procedure for the purpose of
percentages are announced via SGXNET providing third parties and employees
on the same day of the general meeting. All Directors, Management and with accessible channels for reporting
employees are notified by email prior suspected fraud, corruption, financial
Minutes of general meetings are made to the start of each trading blackout impropriety, unethical conduct and
available on the StarHub IR website. period and the restrictions are only other criminal or dishonest practices.
lifted after the announcement of the Such channels include the employees’
respective financial results. The policy immediate supervisors, the relevant
8.CONTINUAL COMMITMENT also discourages trading on short-term Heads of Department or the Head
TO ENHANCE CORPORATE considerations and reminds Directors, of Human Resource (as may be
GOVERNANCE Management and employees of their appropriate), as well as the AC.
Going beyond the requirements of the obligations under insider trading laws.
Code, the SGX-ST Listing Manual, the The Investigation Committee
Companies Act and the Securities and In addition, StarHub has also adopted (comprising representatives from the
Futures Act, StarHub has continued a share trading policy which requires Senior Management) will investigate the
to implement additional measures to Directors and Senior Management suspected wrongdoing and implement
enhance the corporate governance of to give prior notice of their intended any necessary rectification and
the Group for FY2016: dealing in StarHub’s securities to the prevention measures. Any personnel
Chairman, the CEO and the Head with a conflict of interest (whether
SECURITIES DEALINGS of Investor Relations, through the actual or potential) will be barred from
StarHub has adopted an enhanced Company Secretary, in order to being appointed to the Investigation
insider trading policy, with respect to facilitate compliance by the Directors Committee. All cases of wrongdoing
dealings in the securities of StarHub and Senior Management. will also be reported to and reviewed
by the Directors and employees of the by the AC.
Group, which exceeds the requirements StarHub has also adopted a policy
of the SGX-ST Listing Manual, pursuant against acquiring any of its shares In cases of suspected wrongdoing
to which: pursuant to its Share Purchase Mandate involving the CEO or the CFO, the
where a price-sensitive development Investigation Committee will be chaired
• All Directors and employees has occurred or been the subject of by the AC Chairman (or his nominee).
of the Group are prohibited from a decision, until the development has Upon completing the investigations for
dealing in StarHub’s securities during been publicly announced. each case of suspected wrongdoing,
the period: the Investigation Committee may at its
While the SGX-ST Listing Manual permits discretion decide whether to circulate
(a) commencing two weeks prior the Board to seek a general mandate the findings of the investigations to all
to the announcement of the from StarHub’s shareholders to allot and employees, taking into account the
Group’s results for each of the issue up to 20% of StarHub’s total issued interests of the Group.
continued
The Group’s whistle-blowing policy for easy access by all employees and program is also supplemented by
aims to encourage the reporting of members of the public. the Pandemic Plan, Haze Response
such matters in good faith, by lending Plan and Crisis Communication Plans
confidence that whistle-blowers will COMPLIANCE LEAVE POLICY to ensure StarHub is able to address
be treated fairly and accorded with due StarHub has a Compliance Leave Policy different crisis situations.
protection against any reprisals. StarHub which applies to employees who hold
will take disciplinary action against any Senior Manager positions and above, SECURITY MEASURES
party who victimises whistle-blowers. finance advocates and employees with FOR DATA PROTECTION
Further, StarHub does not disregard sensitive job functions such as handling In addition to the Laptop Encryption
anonymous complaints but will give due monies, inventories, payroll processing Solution, StarHub has implemented
regard to such complaints. The Group’s and approvals, risk management and Mobile Device Management (MDM)
whistle-blowing policy is available on purchasing of goods and services. to ensure that commercially sensitive
StarHub’s intranet and corporate website Under the Compliance Leave Policy, and confidential corporate emails and
for easy access by all employees and such employees are required to go on information accessed by employees
members of the public. mandatory block leave for a period of using their corporate-issued mobile
at least five consecutive working days devices are protected. In the event
EMPLOYEE CODE OF CONDUCT each calendar year. This arrangement that an employee’s corporate-issued
AND RULES ON BUSINESS allows covering officers to fully step into mobile device is lost or stolen, MDM
CONDUCT the duties of the employee on leave, as will remove corporate data stored on
To guide employees in carrying out their an additional check and balance against the corporate-issued mobile device
duties and responsibilities with high any breaches. This is an additional risk by performing a remote factory reset.
standards of personal and corporate mitigation measure voluntarily put in Both the Laptop Encryption Solution
integrity when dealing with StarHub, its place to enhance corporate governance. and the MDM enhance the security of
competitors, customers, suppliers and StarHub’s commercially sensitive and
the community, StarHub has put in place DOCUMENT confidential corporate data accessed
the following: CLASSIFICATION POLICY through or stored on such mobile
StarHub has a document classification devices and laptops by employees.
• StarHub’s Employee Code of policy to guide employees in StarHub continually evaluates new
Conduct and Ethics; their handling of information and technologies which may further
• Corporate Gift and Hospitality Policy; documents relating to the Group’s enhance the security of its confidential
and business, activities and operations. and sensitive information on an on-
• Supplier and Vendor Policy. Such information and documents going basis. StarHub has put in place
are required to be classified as a comprehensive Personal Data
StarHub’s Employee Code of Conduct “Confidential”, “For Internal Use” Protection compliance program to
and Ethics as well as the Corporate or “For Public Distribution”, which ensure compliance with applicable law.
Gift and Hospitality Policy cover helps to safeguard the information
business conduct (including employees’ and documents, ensures that only
compliance with anti-corruption and appropriate persons have access to
anti-bribery laws), conduct in the that information and that access is
workplace, protection of StarHub’s on a need-to-know basis only.
assets, proprietary and confidential
information and intellectual property, STRATEGIC BUSINESS
conflict of interest, non-solicitation CONTINUITY MANAGEMENT
of customers and employees, and (BCM)
workplace health and safety. In StarHub was the first Info-
parallel, the Supplier and Vendor Policy Communications company in
covers internal controls on tenders, Singapore to be successfully certified
vendor selection and purchasing to to Singapore Standards SS540:2008
ensure transparency, objectivity and for Business Continuity Management
compliance. (BCM) in May 2011. In May 2014,
StarHub successfully converted to ISO
The Employee Code of Conduct and 22301:2013, which is the ISO standard
Ethics as well as the Corporate Gift for BCM. StarHub’s BCM program
and Hospitality Policy are available on focuses on Info-Communications
StarHub’s intranet, while the Supplier Network, Infrastructure and Support
and Vendor Policy are available on Services for Mobile, Television,
StarHub’s intranet and corporate website Broadband and Fixed. The BCM
DISCLOSURE GUIDE – CODE OF CORPORATE GOVERNANCE 2012
Guideline Questions How has the Company complied?

General (a) Has the Company complied with all the principles and StarHub has complied, in all material aspects, with the principles
guidelines of the Code? If not, please state the specific and guidelines of the Code of Corporate Governance (Code)
deviations and the alternative corporate governance issued by the Monetary Authority of Singapore on 2 May 2012.
practices adopted by the Company in lieu of the
recommendations in the Code.
(b) In what respect do these alternative corporate Not applicable.
governance practices achieve the objectives of the
principles and conform to the guidelines in the Code?
Board Responsibility
Guideline 1.5 What are the types of material transactions which require The Board has established a framework on authorisation and
approval from the Board? approval limits for capital and operating expenditure, as well as
specified transactions including acquisitions and disposals of
investments, procurement of goods and services, bank facilities
and cheque signatories. Within this framework, the Board has set
relevant authority and approval sub-limits for delegation to various
Management levels to optimise operational efficiency. Board
approval is required for all transactions which exceed the relevant
authorisation and approval limits.
Members of the Board
Guideline 2.6 (a) What is the Board’s policy with regard to diversity in The Board recognises the importance and value of diversity.
Governance
identifying director nominees? It constantly seeks to maintain an appropriate mix of expertise,
experience (both local and international), knowledge, gender,
culture and nationality in its composition. With Board diversity,
each Director is able to bring in his or her unique contribution to
the development of the overall strategy of the Group by way of
alternative perspectives and fresh challenges during discussions.
(b) Please state whether the current composition of the The Board consists of Directors who possess a broad range
Board provides diversity on each of the following of core competencies and experience in banking, accounting
– skills, experience, gender and knowledge of the and finance, legal, regulatory, technical, business and industry
Company, and elaborate with numerical data where knowledge, management and strategic planning experience and
appropriate. customer-based experience and knowledge. The individual profile
of the Directors can be found in the ‘Board of Directors’ section of
the Annual Report.
(c) What steps has the Board taken to achieve the balance In proposing a Director as a candidate for appointment or
and diversity necessary to maximise its effectiveness? re-appointment, the Nominating Committee (NC) takes into
account several factors, including the composition, the diversity
and the need for progressive renewal of the Board, each
candidate’s competencies, commitment, contribution and
performance (including attendance, preparedness, participation
and candour) as well as potential conflicts of interest. This is to
ensure that an appropriate balance of skills, experience, expertise
and diversity is maintained on the Board, enabling the Board
to stay engaged and agile in meeting the needs of the Group.
External consultants are engaged to assist with the selection
process if necessary.
Guideline 4.6 Please describe the board nomination process for the The NC leads the process for the selection and appointment
Company in the last financial year for (i) selecting and of new Directors and re-appointment of incumbent Directors,
appointing new directors and (ii) re-electing incumbent with written terms of reference that clearly set out its authority
directors. and duties. It takes into account several factors, including the
composition, the diversity and the need for progressive renewal
of the Board, each candidate’s competencies, commitment,
contribution and performance (including attendance,
preparedness, participation and candour) as well as potential
conflicts of interest. This is to ensure that an appropriate balance
of skills, experience, expertise and diversity is maintained on
the Board, enabling the Board to stay engaged and agile in
meeting the needs of the Group. External consultants are
engaged to assist with the selection process if necessary. All
new appointments to the Board are subject to the approval of
StarHub’s regulator, namely the Info-communications Media
Development Authority (IMDA).
continued
DISCLOSURE GUIDE

Guideline 1.6 (a) Are new directors given formal training? Yes, new Directors are given formal training.
If not, please explain why.
(b) What are the types of information and training provided (i) StarHub has a comprehensive induction programme for all
to (i) new directors and (ii) existing directors to keep them newly-appointed Directors that is specifically tailored for the
up-to-date? Group’s business and operations. Management conducts
briefings for newly-appointed Directors to familiarise them
with the Group’s business activities, strategic directions,
financials, policies and governance practices, as well as
StarHub’s corporate culture and the key developments in the
Group and industry. The induction program includes meetings
with the CEO and Senior Management.
(ii) Existing Directors are provided with regular updates on key

legal, regulatory, industry and accounting changes which
affect the Group. The updates may be given by way of
(a) briefings at Board meetings or via email and (b) articles and
reports (including industry news and analyst reports) relevant
to the Group’s business, which are regularly circulated to
the Directors and uploaded onto the StarHub Board Portal
for their reference. Directors are also encouraged to attend
external seminars and trainings (including those conducted
by StarHub’s panel of law firms and the Singapore Institute of
Directors in conjunction with the SGX-ST).
Guideline 4.4 (a) What is the maximum number of listed company board StarHub has not prescribed a maximum number of listed company
representations that the Company has prescribed for its board representations that a Director may hold.
directors? What are the reasons for this number?
(b) If a maximum number has not been determined, The NC is responsible for determining whether each Director
what are the reasons? is able to adequately devote sufficient time to discharge their
responsibilities to the Company. The NC is of the view that the
duties of all Directors have been fully discharged based on the
time and attention devoted by each Director, their individual
abilities and their respective individual contribution of skills,
knowledge and experience and their commitment to the affairs of
StarHub. The table of attendance can be found in the Corporate
Governance Report.
(c) What are the specific considerations in deciding on the The specific considerations are as set out in (b) above.
capacity of directors?
Board Evaluation
Guideline 5.1 (a) What was the process upon which the Board reached For FY2016, the Board engaged the assistance of Aon Hewitt
the conclusion on its performance for the financial year? Singapore Pte Ltd as independent external consultants to facilitate
the annual review of the performance of the Board and the Board
Committees. The review process identifies key issues pertaining
to the effectiveness, efficiency and functioning of the Board
and the Board Committees, in particular (i) the adequacy of the
Board composition, including the Board size, the degree of Board
independence and the mix and diversity of skills, experience and
knowledge of the Board, (ii) information management and Board
processes, including level and timeliness of information provided
to the Board, (iii) integrity and corporate social responsibility of
the Board, (iv) managing the Company’s performance, (v) the
effectiveness of Board Committees, (vi) CEO performance and
succession planning, (vii) Director’s training and development and
(viii) risk management. As part of the evaluation process, detailed
questionnaires were completed by each Director, with feedback
on the key areas and individual interviews with each Director were
carried out.
Feedback and comments received from the Directors are

reviewed by the NC in consultation with the Board Chairman, and
tabled to the Board for discussion.
(b) Has the Board met its performance objectives? Based on the NC’s review, the Board and the various Board
Committees operate effectively, and each Director is contributing
to the overall effectiveness of the Board.

Independence of Directors
Guideline 2.1 Does the Company comply with the guideline on the Yes. The current StarHub Board comprises 11 Directors
proportion of independent directors on the Board? If not, of whom five are independent, representing more than one-third
please state the reasons for the deviation and the remedial of the Board.
action taken by the Company.
Guideline 2.3 (a) Is there any director who is deemed to be independent There is no Director who is deemed to be independent by the
by the Board, notwithstanding the existence of a Board, notwithstanding the existence of a relationship as stated in
relationship as stated in the Code that would otherwise the Code that would otherwise deem him not to be independent.
deem him not to be independent? If so, please identify
the director and specify the nature of such relationship.
(b) What are the Board’s reasons for considering him Not applicable.
independent? Please provide a detailed explanation.
Guideline 2.4 Has any independent director served on the Board As at 1 January 2017, three independent Directors, namely
for more than nine years from the date of his first Mr Nihal Vijaya Devadas Kaviratne CBE, Mr Teo Ek Tor and
appointment? If so, please identify the director and set out Mr Liu Chee Ming have served on the Board for more than nine
the Board’s reasons for considering him independent. years. After careful rigorous review, the NC recommends, and
the Board is of the firm view, that Mr Kaviratne, Mr Teo and
Mr Liu have each demonstrated the essential independence of
mind and objectivity of judgement to act in the best interests of
the Group in the discharge of their Directors’ duties, and therefore
considers them to be independent. When assessing objectivity
and independent judgement, the NC and the Board consider, inter
Governance
alia, the approach, character and attitude of each non-executive
Director, including whether such Director (i) is free from any
interest and any business or other relationship which could, or
could reasonably be perceived to, interfere with the exercise of
the Director’s independent business judgement with a view to the
best interests of the Group and (ii) has any material contractual
relationship with the Group other than as a Director. Two
additional independent Directors, Mr Ma Kah Woh and Ms Rachel
Eng Yaag Ngee, were appointed in 2015.
Disclosure of Remuneration
Guideline 9.2 Has the Company disclosed each director’s and the CEO’s Yes, the details of each Director’s and the CEO’s remuneration are
remuneration as well as a breakdown (in percentage fully disclosed.
or dollar terms) into base/fixed salary, variable or
performance-related income/bonuses, benefits in kind,
stock options granted, share-based incentives and awards,
and other long-term incentives? If not, what are the
reasons for not disclosing so?
Guideline 9.3 (a) Has the Company disclosed each key management Yes, the details of each key management personnel’s
personnel’s remuneration, in bands of S$250,000 or remuneration are fully disclosed.
in more detail, as well as a breakdown (in percentage
or dollar terms) into base/fixed salary, variable or
performance-related income/bonuses, benefits in kind,
stock options granted, share-based incentives and
awards, and other long-term incentives? If not, what
are the reasons for not disclosing so?
(b) Please disclose the aggregate remuneration paid to StarHub has disclosed the aggregate remuneration paid to the
the top five key management personnel (who are not top five key management personnel (who are not Directors or
directors or the CEO). the CEO) in the Corporate Governance Report. The aggregate
remuneration paid to the top five key management personnel
(who are not Directors or the CEO) is S$4,778,256.
Guideline 9.4 Is there any employee who is an immediate family member No.
of a director or the CEO, and whose remuneration exceeds
S$50,000 during the year? If so, please identify the
employee and specify the relationship with the relevant
director or the CEO.
continued
DISCLOSURE GUIDE

Guideline 9.6 (a) Please describe how the remuneration received by The ERCC seeks to ensure that the level and mix of remuneration
executive directors and key management personnel for the CEO (Executive Director) and key management personnel
has been determined by the performance criteria. are competitive and relevant, aligned with shareholders’
interests, promote the long-term success of the Group and
strongly linked to the achievement of business and individual
performance targets. Remuneration for the CEO and key
management personnel comprises a fixed component, variable
cash component, share-based component and market-related
benefits. The performance targets are determined by the ERCC
and are set at realistic yet stretched levels each year to motivate
them to achieve a high degree of business performance with
emphasis on both short and long-term quantifiable objectives.
(b) What were the performance conditions used to Please refer to the performance conditions used to determine
determine their entitlement under the short-term and the CEO’s and key management personnel’s entitlement under
long-term incentive schemes? the short-term and long-term incentive schemes as set out in the
Corporate Governance Report.
(c) Were all of these performance conditions met? Based on the performance level attained, the performance
If not, what were the reasons? conditions were met.
Risk Management and Internal Controls
Guideline 6.1 What types of information does the Company provide to Throughout the financial year, the Board receives monthly
independent directors to enable them to understand its management and financial reports providing updates on key
business, the business and financial environment as well performance indicators and a financial analysis of the Group, and
as the risks faced by the Company? How frequently is the regular analysts’ reports and media articles on StarHub and the
information provided? industry. Other related business reports are also provided to the
Board regularly and upon request by the Board from time to time.
Such reports enable the Directors to constantly keep abreast of
key issues and developments in the industry as well as challenges
and opportunities for the Group, thereby facilitating informed and
sound decisions.
At least three (3) business days prior to each Board and Board
Committee meeting, Management provides the Directors with
timely information that is relevant to matters on the agenda for
the meeting, except for sensitive matters to be tabled at the
meeting itself. This is to give Directors sufficient time to review
and consider the matters being tabled and/or discussed. The
Board also receives updates from the respective Chairman of
each Board Committee at Board meetings, in relation to key
matters raised and/or decisions made at the last-held meeting
of the relevant Board Committee. For any matter which requires
the Board’s approval, the Board Committees would recommend
the course of action to the Board for its consideration and
decision. Minutes of the meetings of the AC, the SC, the NC and
the RC are also circulated to the Board for its information, while
the minutes of the meetings of the ERCC are available to the
Directors on request.
The Board has access to Management at all times to answer any

queries raised by the Directors. Frequent dialogue and interactions
take place between Management and the Directors.
Guideline 13.1 Does the Company have an internal audit function? Yes, the Company has an internal audit function
If not, please explain why.

Guideline 11.3 (a) In relation to the major risks faced by the Company, The Board’s view on the adequacy and effectiveness of the
including financial, operational, compliance, internal controls and risk management systems (including
information technology and sustainability, please state financial, operational, compliance and information technology
the bases for the Board’s view on the adequacy and controls) established and maintained by the Group is made
effectiveness of the Company’s internal controls and in concurrence with the Audit Committee (AC) and the Risk
risk management systems. Committee (RC) based on the reviews performed by Management
as supported by audit findings of external and internal auditors and
the relevant assurance from the CEO and the CFO.
In assessing the adequacy and effectiveness of the internal

controls, the Board ensures that material assets are properly
safeguarded, integrity and availability of critical information and
systems (including accounting records) are maintained, and
reliable financial information is prepared in compliance with
applicable internal policies, laws and regulations.
(b) In respect of the past 12 months, has the Board Yes. For FY2016, the Board has received written assurance from
received assurance from the CEO and the CFO as well the CEO and the CFO that (i) the financial records of the Group
as the internal auditor that: (i) the financial records have have been properly maintained and the financial statements
been properly maintained and the financial statements give a true and fair view of the Group’s operations and finances
give true and fair view of the Company’s operations and (ii) the risk management and internal control systems of
and finances; and (ii) the Company’s risk management the Group are adequate and effective to address the financial,
and internal control systems are effective? If not, how operational, compliance and information technology risks as
does the Board assure itself of points (i) and (ii) above? well as risk management objectives which the Group considers
Governance
relevant and material to its current business environment and
scope of operations. In addition, Management has implemented
an enhanced process to sign off assurance to the CEO and the
CFO, in order to enhance the current processes for supporting the
Board’s opinion on the adequacy and effectiveness of the internal
controls and the risk management systems of the Group.
Based on the risk management system and internal controls

established and maintained by the Group, the reviews performed
by Management as supported by audit findings of the external and
internal auditors and the relevant assurance from the CEO and the
CFO, the Board (with the concurrence of the AC and the RC) is of
the opinion that the risk management system and internal controls
of the Group are adequate and effective to address the financial,
operational, compliance and information technology risks as
well as risk management objectives which the Group considers
relevant and material to its current business environment and
scope of operations.
Guideline 12.6 (a) Please provide a breakdown of the fees paid in total to The aggregate amount of external auditors’ fees for FY2016 and
the external auditors for audit and non-audit services the breakdown for the audit and non-audit services are set out in
for the financial year. Note 21.3 to the Financial Statements of the Annual Report.
(b) If the external auditors have supplied a substantial Non-audit fees amount to less than 50% of the total fees paid/
volume of non-audit services to the Company, please payable to the external auditor of StarHub. The AC has also
state the bases for the Audit Committee’s view on the reviewed the volume and type of non-audit services provided by
independence of the external auditors. the external auditors. Based on such review, the AC is satisfied
that the independence of the external auditors has not been
compromised by the provision of the non-audit services and
that Rules 712 and 715 of the SGX-ST Listing Manual have been
complied with. The external auditors have also confirmed their
independence.
continued
DISCLOSURE GUIDE

Communication with Shareholders
Guideline 15.4 (a) Does the Company regularly communicate with StarHub, through its Investor Relations (IR) team, communicates
shareholders and attend to their questions? How regularly with shareholders and the investment community
often does the Company meet with institutional and through regular, effective and non-discriminatory communication
retail investors? including regular dialogues and timely disclosures of material and
other pertinent information via SGXNET announcements.
(b) Is this done by a dedicated investor relations team Yes, StarHub has a dedicated IR team.
(or equivalent)? If not, who performs this role?
(c) How does the Company keep shareholders informed Apart from SGXNET announcements and the annual report,
of corporate developments, apart from SGXNET the StarHub IR website at www.starhub.com/ir, which is regularly
announcements and the annual report? updated, is the main source of information for shareholders.
It houses all media releases, financial results, annual reports,
SGXNET announcements, presentation materials, archived
webcasts and conference calls, as well as other corporate
information relating to the Group. Investors may also elect
to be notified of any new updates via an e-mail alert service.
The CEO and the StarHub IR team also have regular meetings
with institutional investors through international road shows and
conferences organised by major brokerage firms.
Guideline 15.5 If the Company is not paying any dividends for the financial Not applicable. StarHub has been paying dividends on a quarterly
year, please explain why. basis for FY2016.
Directors’ Particulars
Principal Directorships/Chairmanships in other listed companies & other major appointments,

both present and held over the preceding 3 years
Age in Past Principal Directorships/
Year Present Principal Directorships/ Chairmanships & Appointments
Director 2017 Chairmanships & Appointments (from 1 Jan 2014 to 30 Dec 2016)
Steven Terrell Clontz 67 Level 3 Communications, Inc. InterDigital, Inc.

Virgin Mobile Latin America, Inc. Jasper Technologies, Inc
PSA International Pte Ltd (formerly known as Jasper Wireless, Inc.)
STT GDC Pte. Ltd.
Cloud9 Technologies
Tan Tong Hai 54 StarHub Cable Vision Ltd. –

StarHub Internet Pte Ltd
StarHub Mobile Pte Ltd
Nanyang Polytechnic
Workforce Singapore
Ma Kah Woh 70 Mapletree Investments Pte Ltd CapitaLand China Development

Mapletree Greater China Commercial Trust Fund II Ltd
Management Ltd Mapletree Logistics Trust Management
Governance
National Heritage Board Limited
PACC Offshore Services Holdings Ltd National University of Singapore
Nihal Vijaya Devadas 73 DBS Bank Ltd PT TVS Motor Company Indonesia
Kaviratne CBE Olam International Limited TVS Motor (Singapore) Pte. Ltd.
Caraway Pte. Ltd. SATS Ltd.
GlaxoSmithKline Pharmaceuticals Limited
Akzo Nobel India Limited
Rachel Eng Yaag Ngee 49 Olam International Limited Governor – Raffles Girls’ School
SPH REIT Management Pte Ltd (Secondary)
Certis CISCO Security Pte. Ltd. Member of CMFAS Examination Board –
Board Member – Public Utilities Board The Institute of Banking & Finance
Board Member – Singapore Institute of Board Member – APREA (Asia Pacific Real
Technology Estate Association) Singapore Chapter
Teo Ek Tor 64 PrimeFounders Pte Ltd –

PrimePartners Group Pte Ltd
PrimePartners Corporate Finance Pte Ltd
Aris PrimePartners Asset Management Pte Ltd
WhiteRock Medical Company Pte Ltd
Stephen Geoffrey Miller 54 STT GDC Pte. Ltd. –

Asia Mobile Holdings Pte. Ltd.
Singapore Technologies Telemedia Pte Ltd
Telechoice International Limited
U Mobile Sdn. Bhd.
Advanced Info Service Public Company Limited
Directors’ Particulars
continued
Principal Directorships/Chairmanships in other listed companies & other major appointments,

both present and held over the preceding 3 years
Age in Past Principal Directorships/
Year Present Principal Directorships/ Chairmanships & Appointments
Director 2017 Chairmanships & Appointments (from 1 Jan 2014 to 30 Dec 2016)
Lim Ming Seong 70 CSE Global Limited –

First Resources Ltd
Liu Chee Ming 66 Platinum Holdings Company Limited –

Haitong Securities Co., Ltd.
Nasser Marafih 56 Ooredoo Q.S.C. –
Takeshi Kazami 54 President & CEO, NTT Singapore Pte Ltd. –

President & CEO, NTT Worldwide Network
Singapore Pte Ltd.
Emerio Globesoft Pte. Ltd.
NTT MSC Bhd.
PT NTT Indonesia
Awards and
Industry Honours
Advertising/Branding/Marketing Corporate Technology

Hall of Fame Awards 2016 Alpha Southeast Asia’s 10 Annual th
NetworkWorld
• Brand of the Year, for the third consecutive Best Financial Institution Awards Asia Information
year: StarHub • Recognised in three categories Management
• GOLD: Digital Design Campaign of the Year – Most Organised Investor Relations,
(StarHub.com) Strongest Adherence to Corporate Governance
Awards 2016
& Most Improved Investor Relations • WINNER: Data Centre
• SILVER: For Good Award
Infrastructure Management
(StarHub Majulah Moms music video)
• SILVER: Content Marketing Idea of the Year Asia Sustainability Reporting
(StarHub Majulah Moms music video) NetworkWorld
Awards 2016
• WINNER: Asia’s Best Sustainability Report
Asia Readers’
Holmes Report’s Innovator within Annual Report Choice Product
25 Asia-Pacific 2016 Excellence 2016
• One of the 25 innovators in the inaugural Built Environment Industry (BEI) • WINNER: IP Services
Asia-Pacific listing (Rod Strother) Asia Awards 2015/16 Infrastructure, for the
• Asia Responsible Corporate Award second consecutive year
HWM + HardwareZone.com – People Centric Award
Tech Awards 2016 OpenSignal
• Best Pay TV Service (Singapore) 2016 Corporate Knights’ Global 100 ‘The State of LTE’
• Sixth win in a row • Ranked 8th in the list of the world’s most February 2016 Report
sustainable company • Attained “Fastest Networks
Governance
Singapore Media Awards 2016 • Improved from its ranking of 24th in 2015 with LTE” title for the second
• Media Sales Person of the Year • Most sustainable Singaporean company; consecutive quarter
(Isaac Elias M Arif Bin Saini) remains the only local telco to be awarded
Nikkei Asian Review’s Asia 300

• StarHub topped the list for fiscal 2015
SIAS Investors’ Choice Awards

• WINNER: Most Transparent Company Award
(Telecommunications & Utilities category);
third win in a row
• MERIT: Singapore Corporate Governance
Award (Big Cap category)
Singapore Corporate Awards 2016

• GOLD: Best Investor Relations Award
(for companies with $1B and above in market
capitalisation)
• Third consecutive win
SPRING Singapore’s
People Developer Standard
• Certified People Developer
Investor Relations
We continue to maintain a very active When there are new developments in

IR programme. In 2016, we met more this rapidly-changing industry, we stand
Cumulative TSR
than 280 investors in over 210 meetings. ready to address queries our investors since FY2005
They range from large multi-company might have. The changes might include
meetings, multi-day conferences where
we reach out to international investors,
to intimate one-on-one sessions
new policies, new competing products
or other developments of the industry.
We also try and proactively anticipate
+394%
here to help them better understand what their concerns might be and offer
StarHub’s business. our views to address investors’ concerns
We were also appreciated in three
as quickly as possible.
categories at the Alpha Southeast Asia’s
For regular updates and reinforcement of
10th Annual Best Financial Institution
the investment thesis on StarHub, we have Regardless of how we engage with
Awards. They were; ‘Most Organised
our quarterly earnings announcements investors, we have a common goal:
Investor Relations’, ‘Strongest Adherence
and conference calls. Fronted by the CEO, uphold the best corporate governance
to Corporate Governance’ & ‘Most
Tan Tong Hai and the senior management standards possible and communicate
Improved Investor Relations’.
team, we take questions from analysts, what we are doing to them effectively.
fund managers and journalists. We have
We thank you – our shareholders
responded to questions ranging from the We are glad our IR programme has
– for the recognitions and we strive
broader industry trends to topical issues gained continued recognition. For the
to do better.
of the day. third consecutive year at the Singapore
Corporate Awards, we were given the
To make it easier for investors and other ‘Best IR Award (Gold)’, for companies
interested parties to catch up or recap with market value above $1 billion. At
the conference calls, we continue to put the SIAS Investors’ Choice Awards, we
our recordings and transcripts online, on won the ‘Most Transparent Company
top of the usual presentation decks and Award’ (Telecommunications & Utilities
financial statements found on our category) for the third time as well.
IR website.
Why Invest in StarHub
1
PROVEN
2
WIDELY
3
ASTUTE
4
FINANCIALLY
5
CUSTOMER
MANAGEMENT RECOGNISED STRATEGY SOUND SERVICE
TEAM BRAND A management team Positive cash flow EXCELLENCE
Experienced, Well-known in the willing and able to refresh generation, financial Customers are at the
performance-oriented info-communications our ideas and refine our flexibility and consistently heart of everything
management team with and media industry to strategies to stay ahead providing a quarterly we do. We believe we
solid industry expertise, be innovative, providing of the game dividend payout have a comprehensive
technical depth and good values to customers, network of service
company tenures household and enterprise and communication
– a brand that cares for channels to deliver
the community and a this promise
company with a heart
6 7 8 9
Governance
SINGAPORE’S REGIONAL STRATEGIC BUSINESS
FIRST FULLY CONNECTIVITY PARTNERSHIPS SUSTAINABILITY
INTEGRATED INFO- Strategic investments in Developing and fostering Constantly measuring
COMMUNICATIONS submarine cable systems strategic relationships to and assessing the impact
COMPANY like AAG, ASE and APG run an efficient business of the landscape and
Fully-integrated info- ensure low network model, provide complete stakeholders on the
communications and latency, resilience and end-to-end service Company and vice versa,
entertainment service diversity, and support offerings and continue to working towards long-
provider based in future growth needs lead innovation in all areas term profitability
Singapore, providing at
least one service to over
60% of local households
For the third consecutive year at the Singapore

Corporate Awards, we were given the ‘Best IR
Award (Gold)’, for companies with market value
above $1 billion.
Risk Management
StarHub recognises that risks are inherent in all businesses. A sound system of risk
management and internal controls does not eliminate risk, but rather mitigates and
manages risk-taking such that StarHub is able to make business decisions which
commensurate with its risk tolerance.
StarHub is committed to establishing a structured and Through our risk management programme, we aim to have
disciplined approach towards managing risk. Thus, a current, correct and comprehensive understanding of our
we have integrated a systematic and effective risk significant risks, which will be managed within risk tolerances
management process into our core business processes reflecting our values, objectives and resources.
and decision-making activities.
StarHub’s Risk Management Approach:
1
CREATE VALUE by
2
FORM AN INTEGRAL PART of StarHub’s management
3
ENABLE STARHUB’S
contributing to the practices, organisational processes and core business DECISION MAKERS
achievement of StarHub’s activities, including strategic planning, project processes to make informed choices,
mission, business and and change management processes; prioritise actions and
strategic objectives; distinguish alternative
courses of action;
4
TAKE INTO ACCOUNT
5
FOLLOW A SYSTEMATIC,
6
BASED ON RELIABLE
7
ALIGNED TO STARHUB’S
UNCERTAINTIES, the disciplined and structured INFORMATION SOURCES CULTURE, processes and
nature and extent of the approach which is such as historical data, structure, taking into
uncertainties and how efficient and produces experience, stakeholder account the internal and
they can be addressed; consistent, comparable feedback, observation, external parameters for
and reliable results; forecasts and expert risk management;
judgement;
8
REMAIN RELEVANT AND
9
CONTINUOUSLY ADAPT
10
CONTINUOUSLY IMPROVE STARHUB’S capability/
UPDATED by involving key TO CHANGE, including capacity, adequacy of resources and availability of
stakeholders and decision occurrence of internal and requisite experience to identify, manage, mitigate and
makers regularly and on a external events, change take on new risks.
timely basis; in risks and emergence of
new risks; and
Risk Structure Risk Considerations

The risk structure sets out our risk StarHub’s external environment is characterised by numerous challenges,
management functions, roles and including rapid technological changes; cyber security threats, increased
responsibilities of key stakeholders for the competition in a saturated local market; growing government and
governance of risk, as illustrated below: sectoral regulations; as well as unfavourable global and domestic
economic conditions.
of Directors
Board
Risk Risk Levels

Committee
Dir
ect
(RC)
5 Likelihood Impact
an d
Levels Levels
Ris
mo
5. Almost certain 5. Severe

k
rep
nit
Management 4 4. Likely 4. Major

or
or t
Risk Committee 3. Possible 3. Moderate

risk
s fo
(with ERM and 2. Unlikely 2. Minor

ma
r ev
Risk Workgroups)
Management
3
nag
1. Rare 1. Insignificant
alu
atio
em
ent
n
2
Likelihood
Very high (Must treat unless accepted)
Governance
High (To treat &/or monitor)
Business Heads 1 2 3 4 5 Medium (To monitor)
Low (To review annually for relevance)
Impact
StarHub’s current risk management process, which is an integral part of our key business activities is summarised and
illustrated in the diagram below:
Risk Levels
Likelihood Levels 5
4
Mission
3 Risk Organisation
Structure
2
1 2 3 4 5
DRIVERS IMPACTS Impact Levels
es
re s p
Top-tier
ons
Risk Heat Map

ons
Risks
re s p
es
Preemptive
Escalation
DRIVERS Mid-tier IMPACTS
re s p
es
ons
Risks
ons
Key Risk Indicators

re s p
es
Effectiveness
of Control
1. Effective
DRIVERS IMPACTS
re s p
es
Micro-tier 2. Partially effective

ons
Risks
ons
3. Not effective
re s p
es
Risk Management Training

For effective risk governance and management, it is important for employees to be risk-aware. We create training programmes
for employees to build up competency for managing risk through workshops, communication bulletins and other channels.
Risk Management
continued
Key Risks
StarHub is committed to
upholding high standards
of corporate governance
1
Technology, IT, Security and Resiliency
2
Customers
and applying consistent StarHub’s business as an info-communications In Singapore where the consumer
and effective risk service provider is dependent on the security, market is over-saturated and fixed
management to enhance availability and resilience of the underlying broadband and mobile networks are
shareholder value. The network infrastructure and information widely used for access to services
Group faces a variety of systems it operates on. While our network is on the Internet, global technology
internal and external risks designed to be resilient and robust, points of players, device manufacturers and
due to complex business failure, network outages and external events over-the-top providers continue to
operations and the dynamic such as cyber-attack, accidents stemming enter the highly competitive market.
from human error and disasters beyond our
and competitive market
control could cause an extended disruption to Customers have increasing
in which it operates.
our network services and business operations. demands on network capacity,
The Group recognises including faster network speeds
risk management as an The technology evolution cycle is fast- while being price sensitive.
optimisation of the risk- changing in our industry and the emergence
reward relationship, within of disruptive technologies across all industries StarHub seeks to understand our
known and agreed risk continuously influences strategic decisions customer needs and has put in place
appetite levels. The Group necessary to identify the most appropriate strategies to meet and exceed their
will manage or avoid technology to adopt due to the high levels expectations to win their loyalty.
situations or actions that of capital expenditure involved and the Our Hubbing strategy continues to
risk having a negative uncertainty of the return on investment. evolve to meet changing market
impact on its reputation and and customers’ needs. Targeted
brand, network integrity Cyber risks, a real and increased concern marketing and promotional activities
and business continuity. especially in today’s digital economies, are launched to counter increased
StarHub seeks to treat its can potentially lead to security breaches, competition.
customers reasonably and compromise of network integrity and loss
of customer information, resulting in potential We are also constantly looking
fairly. StarHub requires its
breaches of statutory or regulatory as well as into capitalising emerging
staff to uphold integrity. contractual obligations. technologies to retain and attract
StarHub also seeks to customers, so as to support the
meet applicable legal and StarHub is careful in its investments to upgrade growth of the business.
regulatory requirements. and modernise its network and IT infrastructure,
The Group is prepared expand capacity to handle growth in data Our leading position in content and
to take measured risks traffic, address security issues while controlling channel offerings is aligned with
to seek new growth and capital expenditure. Network infrastructure and our strategy to move into content
pursue value-creation information systems are kept refreshed, secured development and internet delivery
opportunities as they arise, and up-to-date with technological changes. of content to our customers across
while leveraging its current In response to disruptive technologies, different technical platforms. We
scale and core strengths. StarHub is swift and proactive to embrace and continue to make investments
leverage, adopting them as part of our business to improve our customer service
StarHub’s corporate risk appetite processes and offerings. excellence. Our products and
statement as approved by the Board services are continuously reviewed,
We have established specialised security, refreshed and improved so as to be
business continuity and disaster recovery up-to-date with technology changes
functions and programmes to prevent, and our customers’ needs.
monitor, detect, respond and escalate security
incidents as well as coordinate and operate
across the company to mitigate the security
and resiliency risk.
3
Legal & Regulatory
4
Human Resource
5
Partnership
A change in laws and regulations could Human resource is a significant StarHub works with partners for various
potentially impact StarHub’s business StarHub asset. Attracting, hiring, aspects of its info-communications
and we are exposed to a dynamic retaining and developing talented, business and also forms strategic
regulatory landscape in the local experienced, innovative and passionate partnerships with key vendors and
technology and info-communications people are vital and strategic factors other complementary service providers
sector. In recent years, regulators have to the company’s success. In a tight to expand its footprint and serve new
lowered the barriers for new entrants, labour market, it poses additional market segments. These expose us to
enforced stringent requirements in challenge to recruit the right people potential supply chain risks.
a competitive and highly saturated with the right skill-sets to support the
local market and imposed heavier company’s strategic imperatives. The ability to build and sustain
penalties for failure to meet regulatory partnerships is a strategic differentiator
and licence requirements. As part of We regularly invest in developing for StarHub. Our senior management
our operations, we are also exposed our people with ongoing learning regularly engages with key partners
to litigation risks from regulators, and training to keep them relevant to and plays an active role in sustaining
customers and suppliers. the business needs. Effective employee the strength and commitments of
Governance
learning and development are a “must- our strategic relationships and joint
StarHub engages with regulators have” to support the business strategies ventures. We have also established
by participating in consultations and growth, build intellectual capital service standards, training programmes,
conducted by the relevant government and develop innovative products and and feedback mechanisms to drive
ministries and authorities. services to meet customer needs. consistent and desirable service
standards from our partners.
Our in-house legal and regulatory Retention strategies are in place to
support functions provide prompt minimise employee turnover including
communications and guidance to talent and performance management,
6
ensure that internal stakeholders competitive remuneration, recognition
are aware of and comply with the and reward programmes and
existing and new legislations, as well as fast-tracking of high-performing
regulatory and contractual obligations. employees. Human resource policies Financial
and functions are also in place to StarHub is exposed to billing, credit,
support attracting, retaining and liquidity, interest rate and foreign
growing talent as well as creating currency risks in the normal course
a conducive work environment. of its business, which are generally
governed by policies, processes and
We also have succession planning guidelines. Please refer to the notes
programmes to mitigate key to the financial statements for
employee risks. more details.
page 129
Sustainability
Report
Significant StarHub’s sixth annual sustainability report presents a balanced SR2016

Achievements overview of our environmental, social and governance (ESG) Sustainability Report
FY2016 performance for the calendar year 2016.
Sustainability
About This Report Reporting Process Contents
“I’m the one who watches JAN
Ranked 8th in the Corporate This report has been prepared in accordance StarHub’s Sustainability Committee, Value Creation 90
the most StarHub TV Knights Global 100 Most with the Global Reporting Initiative (GRI) which includes senior executives from Our Stakeholders 92
programmes at home. Sustainable Corporations
list. Remains the only local Standards: Core option, the latest set major functions, provides the overall Our Materiality Topics 96
I also love the fast speeds on telco on the list of standards issued by the GRI Global direction for preparing the report. The – Our Environment 98
StarHub fibre broadband to
Sustainability Standards Board which will Committee’s responsibilities include – Our Marketplace 104
MAY
access my favourite apps & Raised $122,000 for supersede the GRI G4 Guidelines from July reviewing, assessing and determining the – Our Workplace 108
follow rugby and golf games.” Hair for Hope, with 122 2018. We have decided to be an early adopter sustainability context, material ESG topics, – Our Community 114
StarHubbers and business
partners shaving their heads of the GRI Standards starting with this report. report content and topic boundaries, scope Economic Performance 118
Ethan Koh The report continues to include relevant and prioritisation of issues to be included in GRI Content Index 120
Young Hubber JUN indicators from GRI’s Telecommunications the report. The Committee also considers
Contributed $200,000
to Central Singapore Sector Supplement and the G4 Media formal and informal feedback from a range
Community Development Sector Disclosures. In developing the report, of internal and external stakeholders received
Council (CDC) to support we have also incorporated some of the throughout the year to determine the most
learning opportunities and
literacy for disadvantaged International Integrated Reporting Council’s material topics to be covered in the report.
children (IIRC) Integrated Reporting principles to The Committee is supported by a cross-
communicate value created by our ESG functional project team which gathers
AUG
Organised annual StarHub strategies, wherever possible. A GRI Content and verifies ESG performance data.
Open and raised $209,700 Index has been included at the end of this
for Metta School, MINDS report indicating the disclosures’ locations. Our reporting cycle begins with a review of the
Towner Garden School and
Lighthouse School current sustainability report to re-assess the
This report covers ESG performance material topics and their boundaries in the light
OCT of all business divisions and subsidiaries of business environment changes, stakeholder
Sustainability
Won the Sustainable
Business category at the which are under StarHub’s financial and feedback and sustainability trends.
2016 Singapore Apex operational control.
Corporate Sustainability
Awards StarHub’s Corporate Sustainability and
Information presented in the report has Responsibility (CSR) advocate has the
NOV been extracted from the primary internal responsibility for coordinating the entire
Won “Best Sustainability
Report within an Annual records and documents to ensure accuracy reporting process.
Report” at the 2016 Asia using internationally accepted measurement
Sustainability Reporting data units. Restatements
Awards (ASRA)
This report does not include any restatement
Reporting Principles of previously published data.
As in our previous reports, we have
followed the GRI principles for defining the
sustainability report content and quality. We
have determined the report content using
the principles of stakeholder inclusiveness,
sustainability context, materiality and
completeness. To ensure quality of the
report, we have applied the GRI principles
of accuracy, balance, clarity, comparability,
reliability and timeliness.
Sustainability
Report
Sustainability Report
continued
External Assurance
StarHub Value Creation Scorecard
While the financial
statements in the report
Strategic Area FY 2016 FY 2015 FY 2014
are audited by independent
auditors, we rely on our Environmental
internal process to verify CO2e emissions (tonnes) 54,518 56,706 54,625
the accuracy of ESG
Carbon emission intensity per $million revenue
performance data and
(tonnes CO2e) 22.7 23.2 22.9
information presented in
the report. Energy intensity per $million revenue (gigajoules) 183 183 183
Water consumption (cubic metres) 28,421 27,500 27,832
Availability General waste (non-hazardous) (tonnes) 40 30 33
A PDF version of the report is Internal e-waste recycled (tonnes) 379 117 385
available for download on our
Paper recycled (kilogrammes) 16,012 19,295 12,210
website www.starhub.com.
Smart device users can Copier paper consumption (kilogrammes) 28,340 40,065 53,230
also download the StarHub Electricity used (million kWh) 119.9 121.7 118.8
Annual Report app to browse
and experience the StarHub Social
Annual Reports on their Employees
smart devices. Permanent employees+ 91% 88% 88%
Local employees (Singapore citizens)++ 75% 75% 76%
A small number of copies of
New hires 283 320 346
this report have been printed
on Forest Stewardship Female employees++ 42% 43% 43%
Council (FSC) certified Female managers (% of Senior level) 37% 36% 35%
sustainable paper to reduce Female managers (% of Middle level) 36% 38% 38%
environmental impact. Female Heads of Department (% of HODs) 33% 33% 33%
Average training hours per employee 19 20 17
Feedback
We welcome feedback from Training expenditure per employee $784 $611 $873
all stakeholders. Please HR Satisfaction Survey (Employee satisfaction level
send questions, comments, based on survey scores) 91% 92% 92%
suggestions or feedback Employee turnover rate 12% 12% 14%
relating to this report or our Number of reported work injuries 2 2 9
sustainability performance to Fatal Accidents 0 0 0
[email protected] + % refers to base of total StarHub workforce
++ % refers to base of StarHub permanent employees
Suppliers
Share of local suppliers as % of total supplier
payments 86% 89% 91%
Proportion of local suppliers 85.0% 82.7% 86.4%
Community
Employee volunteerism (number of days) 124 144 214
Community investment and donations to charities
($million) 0.8 1.1 1.4
Financial
Revenue ($million) 2,397 2,444 2,387
Net profit ($million) 341 372 371
Dividends paid to shareholders ($million) 346 346 345
Sustainability Governance StarHub’s CSR advocate is responsible

for developing, managing and executing
Case Study
At StarHub, the Board of Directors has
oversight of the Group’s sustainability strategy. CSR programmes and is supported by a
StarHub in the
The Board’s responsibilities include providing cross-functional project team which has
guidance on the material environmental, the responsibility to collect, verify, monitor TOP 8
social and governance (ESG) factors that and provide ESG performance data for OF THE GLOBAL
impact the Group’s activities. sustainability reporting. 100 RANKING
StarHub’s ranking in the
2016 Global 100 Most
In managing sustainability throughout the StarHub Core Values: ExCITe Sustainable Corporations in
Group, the Board is assisted by the StarHub Our approach to sustainable development of the World index jumped to the
Sustainability Committee. The Sustainability the business is guided by StarHub’s four pillars 8th place from the previous
of Core Values: 24th place. StarHub, ranked
Committee is headed by the CEO, and
for the fourth consecutive
comprises senior executives of the Group year, is the only Singaporean
representing key functions. The Sustainability Excellence info-communications
Committee reviews and determines material Creativity provider included in this
ESG factors, develops sustainability strategy, Integrity—social, environmental prestigious index.
considers stakeholder feedback and and financial
The Global 100 is a list of the
expectations, and establishes priorities, Teamwork world’s 100 most sustainable
goals and targets. corporations compiled by
Our sustainability strategy to create shared Corporate Knights based
on an extensive data-driven
value for shareholders and stakeholders is
sustainability assessment.
deeply rooted in our core values.
Asia Sustainability
Reporting Awards
For its reporting excellence,
StarHub Sustainabilty StarHub won Best
Reporting Committee Business Sustainability Report within
Continuity an Annual Report at the Asia
Sustainability
Management Sustainability Reporting
Awards (ASRA) 2016.
Corporate Singapore Apex

Administration Corporate Sustainability
Awards 2016
StarHub was recognised for
Corporate outstanding performance
Purchasing in corporate sustainability
in the Sustainable Business
category at the Singapore
Customer Apex Corporate Sustainability
Service Awards, which recognise
companies in Singapore
for their commitment to
Advisor & sustainable business.
CSR
Advisory Chairman Finance
Advocate
Panel
Network
Legal
Human
Resource
Government
& Strategic
Affairs
continued
Value We are focused on providing every person,

every home and every business in Singapore
Mobile communication, Pay TV, ultra-high
speed broadband services, and data and voice
Creation with world-class information, communication

and entertainment services. As a fully
integrated info-communications company, our
services for businesses make lives better and
help businesses thrive. Our communications
services help people connect with family and
services enrich lives, connect people, facilitate friends, and access information when they
business and empower the community. need it. Our communications solutions help
Creating Sustainable Value for All

Strategic Areas Value Created Challenges Beneficiaries
ENVIRONMENT
Energy • Lower environmental footprint • Cost of upgrading technology • Shareholders
efficiency • Reduced energy cost • Building employee and customer awareness • Environment
• Community
Climate change • Lower carbon footprint • Cost of upgrading technology • Shareholders
mitigation • New business opportunities in a low carbon • Ensuring continued awareness among employees • Environment
economy and customers • Community
Waste • Resource efficiency • Collection, segregation and tracking of all waste • Shareholders
minimisation • Lower pollution across business • Environment
• Building employee and customer awareness • Community
• Cost of disposal
Water • Saving water • Cost of retrofitting • Shareholders
conservation • Employees' pride in saving water • Cost of water efficient fittings • Environment
• Creating employee awareness • Community
SOCIAL
Employee • Employee satisfaction • Competition for talent • Shareholders
development • Innovative problem-solving • Instilling personal ownership of career planning and • Employees
• Motivated and engaged employees skills upgrading • Local
• Higher productivity • Engaging multi-generational workforce economy
• Lower turnover and reduced hiring cost • Developing leadership and mentoring skills • Community
Customer service • Customer retention • Increasing competition • Shareholders
excellence • Customer loyalty • Frequent training to keep pace with new products • Customers
• Reduced cost of new customer acquisition and technologies
• Avoid expensive administrative time in solving
customer problems by being proactive
Uninterrupted • Trust in brand • Cost of preventive maintenance • Shareholders
availability of • Attract and retain customers • Investment in expanding infrastructure • Customers
services • Customer satisfaction • Cyber-attack threats • Local
• Reduced regulatory risk • Reliance on upstream providers economy
High speed • Faster, reliable communication • Cost of network upgrade • Customers
mobile and • Convenient access to public services such as • Rapid evolution of new technologies • Businesses
broadband government e-services, banking, and online • Keeping prices affordable • Local
connectivity shopping • Increasing competition economy
• Supporting the growth of digital economy such as
e-commerce
Access to • Inclusive growth • Cost of subsidy • Community
telecom services • Narrowing digital divide
for all • More resilient and stronger communities
Fair market • Build trust through transparency • Ensuring ongoing employee training and awareness • Shareholders
practices • Attract /retain customers and business partners • Building customer awareness • Customers
• Reduced regulatory risk • Local
economy
Community • Goodwill of community • Complex to determine return on investment • Community
development • Stronger brand equity and respect • Employees
• More resilient, stable and stronger communities • Shareholders
• Trusted relations with society
Employee • Greater employee engagement • Identifying high impact programmes • Community
volunteering • Enhanced job satisfaction • Meeting employees’ expectations for choice of • Employees
• Stronger community engagement programmes • Shareholders
• Cost of volunteering
businesses, both small and large, run We operate an islandwide mobile and We strongly believe that sustainable
their operations efficiently. Superfast and HFC network for delivering TV and cable growth of our business depends on our
reliable connectivity that we offer allows broadband services. Both, part of the ability to create value for our customers
people to access a host of public services nation’s crucial info-communications and society. We therefore take a balanced
from their mobile phones on the go. infrastructure, enable inclusive growth approach to sustainable development of
Our Pay TV services bring world-class and support economic development. our business and the communities around
entertainment to everyone’s home. us. A summary of how we create value for
our stakeholders is presented below.
Strategic Areas Value Created Challenges Beneficiaries

ECONOMIC
Info- • State-of-the-art energy efficient mobile and cable • Rapid technological advancements and innovation • Customers
communications TV infrastructure to support customers and the • High investment cost • Economy
infrastructure local economy • Competitive market place • Community
• Government
• Shareholders
Local suppliers • Supporting local businesses' growth • Local suppliers may have cost disadvantage due to • Suppliers
• Creating indirect local jobs adverse economies of scale • Suppliers'
• Contributing to local economic growth • Capacity limitations employees
• Limited capital for expansion or modernisation • Suppliers'
suppliers
• Government
Supply chain • Reducing social and environmental impacts and • Cost of supplier training, assessments and • Suppliers
sustainability risks in supply chain monitoring • Suppliers'
assessments • Limited influence on dominant suppliers employees
• Communities
• Government
GOVERNANCE
Sustainability
Board diversity • Holistic guidance to the company • Recruitment of suitable directors • Shareholders
• Investors
• Regulators
Risk • Effective risk taking and management, aligned • Creating a risk-aware culture • Shareholders
management with the organisation’s business objectives with an • Keeping updated with the latest emerging risks • Investors
and internal integrated, proactive and systematic approach in and threats
controls risk management
• Better corporate governance
Whistle blowing • Mitigate business risks • Ongoing training and awareness for existing and • Shareholders
policy • Fraud prevention new employees • Investors
Employee code • Ethical conduct • Ongoing training and awareness for existing and • Shareholders
of conduct • Conducive working environment with high level of new employees Investors
trust and professionalism • Business
• Minimise business risks partners
Strategic • Robust plans to keep business operational during • Increase resiliency of core network infrastructure • Shareholders
Business crisis or emergency situations such as haze, to meet stakeholders’ requirements • Investors
Continuity pandemic periods etc • Regulators
Management • Mitigate regulatory risk • Customers
Data protection • Safety of sensitive commercial and strategic data • Investment in automated systems • Shareholders
and information • Mitigating cyber attacks • Investors
• Mitigate regulatory risk • Employee training and awareness Regulators
• Increased confidence of customers, business • Customers
partners and employees
External Initiatives
We support or are committed to a number of national and international economic, environmental and social principles, codes and frameworks.
Some of these include:
• GRI Standards • The Universal Declaration • bizSAFE Level 3 certification, the • The Carbon Disclosure Project
(our first sustainability report of Human Rights second highest level, awarded by (We participate through CDP Supply
(SR 2011) followed GRI 3.1 and the • International Labour Organisation’s the Workplace Safety and Health Chain and CDP Climate Change
last four sustainability reports (SR (ILO) Core Labour Standards Council Singapore programmes)
2012-SR 2015) were in accordance • UN Sustainable Development Goals • The Greenhouse Gas (GHG) • Advertising Standards Authority
with the latest GRI G4 guidelines) Protocol of Singapore (ASAS) Code
• Tripartite Alliance for Fair
Employment Practices (TAFEP) • Mobile Operators' Content Code
continued
Our Stakeholder engagement is at the core of

our sustainability strategy. We engage with a
We seek stakeholder feedback using both
formal and informal channels. Ongoing
Stakeholders range of stakeholders who may be impacted

by our business operations or whose opinion
may influence our business. Insights from
stakeholder feedback allows us to offer the
right products and services that meet our
customers’ needs and expectations, create a
our interactions with stakeholders enrich our fulfilling workplace for employees, and serve
decision making and enable us to create value the community.
for all.
How we engage with diverse stakeholders, including how we respond to the topics and concerns raised by them, is presented below.
Customers Employees
HOW WE ENGAGE: HOW WE ENGAGE:

Customer surveys, Twitter®, Facebook® pages, Through social media platforms such as StarHub Community and
advertisements, StarHub retail stores, online stores, HubbaVoice where they can share their comments and observations on
Customer Service Hotlines. topics of interest, be it local or world events, new technology/applications
etc. We also continue to engage via Intranet, emails, internal newsletter,
STAKEHOLDERS’ EXPECTATIONS: workshops, company-sponsored sporting and social activities such as
Seamless, high-quality coverage, rich content, in-house games organised for employees, small group discussions, twice-
affordability, data security, prompt level of service. yearly employee communication sessions, twice-yearly video addresses by
• Friendly processes and policies CEO, encouragement of employees to interact more personally in and out
• Ease of use of the office, free health snacks on the last Friday of every month.
• Hassle-free sign up
• Employees with excellent product knowledge STAKEHOLDERS’ EXPECTATIONS:
• Easy to understand promotional packages and A caring and conducive environment where employees are equipped
mechanics and motivated to do their best work and continue to excel in personal
development.
HOW WE RESPOND:
By committing ourselves to respect consumers’ HOW WE RESPOND:
rights, provide clear product information, offer value By adopting sound HR policies and practices that promote fair treatment,
for money, ensure product performance and quality, safe working conditions, reward and recognition for performance,
reliable service, prompt handling of complaints, and teamwork and career growth, e.g. we promote work-life balance and a
conducive work environment for employees through provision of nursing
respect for privacy. Provide customers with fulfilment
rooms, a well-equipped gym and encouraging employees to take part
channels such as Retail, Online, Roadshow, Telesales
in sporting activities such as marathons, bowling, futsal, as well as giving
and also self-help options like My StarHub app.
employees early release from work on the last Friday of each quarter for
them to spend meaningful family time with their loved ones. We also
PROGRESS DURING 2016: organised Bring-Your-Kids-to-Work Day for our employees.
• We continued to simplify processes at all touch
points for both sales and service transactions, PROGRESS DURING 2016:
launched e-appointments for existing and new We continued to focus on bringing out the best in our people and building
customers at retail stores, created Hub Trooper a high performing work culture through the following areas:
experience corner at our StarHub retail stores • Revamped internal performance rating system to allow for greater
for personalised solution sales, offered seamless differentiation of employee performance
customer experiences through launch of “click and • Equipped people managers with relevant skillsets to hold effective
collect” for mobile e-commerce sales performance conversations with their teams
• Revamped the online My Account Manager for more • Rolled out Leadership Development Program (5E2P) for senior managers
digital self-services to be performed and above to inculcate key leadership traits and encouraged leaders to
• Outcomes measured in elevated NPS results for both walk the talk
retail and Hub Troopers • Sustained our Career Development efforts for employees through internal
• Revamped My StarHub app with new look and feel Career Fairs and actively facilitated internal transfers and job expansion
and additional features • Achieved the People Developer (PD) certification in 2016 in recognition
• Strengthened Social Media team to provide better of our efforts to develop our people for the better
response times to customers, better handling of
queries, and greater engagement with customers PL ANS FOR 2017:
We are putting in place an all-empowering Human Capital Management
PL ANS FOR 2017: (HCM) system to empower our employees through digitisation to achieve
• Focus on episodic NPS to reduce customer pain collaboration, productivity and innovation at work.
points such as billing and relocation To create a truly employee-centric experience through:
• Strengthen the image of our partner stores to be • Spontaneous 360 Feedback tool to heighten self-awareness and
more representative of our StarHub brand stores development
• Increased engagement across our Social Channels • Transparency of shared goals to drive job clarity and accountability
• Improve upon our Social Health Index rating among employees
• More effective query management during periods of • Creating space and varied opportunities for learning, peer socialising and
high traffic on social channels cross-functional collaboration
• Add new features to My StarHub app to encourage • Simplifying and automating processes in employee lifecycle e.g. benefits,
higher use performance management, learning and engagement
Stakeholder feedback also helps us identify, prioritise and Our approach is to build trusted relationships with all
address the most significant ESG issues. To prepare this report, stakeholders through respectful conversations and upholding
we engaged key internal stakeholders to seek their views the highest standards of professionalism and ethics in
and input for reporting. Assessments that we receive from conducting our business.
numerous sustainability analysts and ranking organisations
help us improve our sustainability reporting.
Suppliers Distributions/Retailers Business Partners Investors
HOW WE ENGAGE: HOW WE ENGAGE: HOW WE ENGAGE: HOW WE ENGAGE:

Quotations, Request Regular meetings, shop Frequent discussions with Quarterly briefings, annual
For Proposals, tenders, visits, email correspondence. telecom and content press conference, Investors’
regular meetings, email partners. Day, regular meetings,
correspondence, and STAKEHOLDERS’ discussions, emails with
teleconferences. EXPECTATIONS: STAKEHOLDERS’ over 240 institutional
Timely delivery; quality EXPECTATIONS:
assurance; strong dealer investors, across Asia,
STAKEHOLDERS’ Partnerships for business Europe and the US.
EXPECTATIONS: collaboration, driving good opportunities and growth.
Compliance with terms customer experience;
STAKEHOLDERS’
and conditions of after-sales support. HOW WE RESPOND: EXPECTATIONS:
prevailing purchasing By engaging them to seek Transparency, timely
policies and procedures, HOW WE RESPOND:
mutually beneficial business
while maintaining ethical By proactive sales planning; information on company
opportunities. progress and status,
standards; appropriate costs. sales support; regular visits
by Account Managers and profitability.
PROGRESS DURING 2016:
HOW WE RESPOND: providing Single Point of
Rolled out more StarHub Go, HOW WE RESPOND:
By establishing policies and Contact for distributors/
SVOD, on demand content By endeavouring to generate
practices that ensure a fair partners for timely response.
Sustainability
selection and procurement for viewers. optimum return on
process, ethical business PROGRESS DURING 2016: investment, good
PL ANS FOR 2017:
practices and respect for • We continued to engage governance, transparency
through quarterly and To work together with
contractual obligations. and disclosure, as well as
yearly performance partners to combat piracy.
sustainable and long-term
PROGRESS DURING 2016: updates, and sharing growth of business.
We completed the sales trends
Supplier Sustainability Survey • Enabled Partners to PROGRESS DURING 2016:
covering 73 key suppliers, provide post sales We continued a strong
more than the target transactions (SIM investor engagement in the
of 60 suppliers. mapping and Set Top Box reporting year that included
swops) for customers to 214 face-to-face investor
PL ANS FOR 2017: integrate sales and post meetings.
Continue supplier sales in partners’ shops
sustainability survey. • Maintained our Quarterly PL ANS FOR 2017:
Partner Delight Index To maintain current levels of
Score at 3.98 and above investor engagement, with
for the Mobile Pre-paid good corporate governance,
business transparency and disclosure.
PL ANS FOR 2017:

• Continue to support
Partners with simplified
processes and systems;
training and selling tools
• Enhance the service
offerings to be closer
to that provided at
StarHub shops
• Introducing Salesforce
tool to further improve
our channel management
in the Mobile Pre-paid
business
continued
Local Communities Media Government & Regulators
HOW WE ENGAGE: HOW WE ENGAGE: HOW WE ENGAGE:

Community outreach programmes, corporate Invitations to media events, regular media Regular discussions with
sponsorships. releases. relevant agencies and
departments.
STAKEHOLDERS’ EXPECTATIONS: STAKEHOLDERS’ EXPECTATIONS:
Support from a caring corporate citizen. Exposure and access to company STAKEHOLDERS’
developments and news, as well as breaking EXPECTATIONS:
HOW WE RESPOND: stories on products, services, entertainment Adherence to regulations,
By regularly reviewing community needs, and related content. reporting of any service
partnering with Voluntary Welfare Organisations delivery issues as required
(VWO), and investing in community projects to HOW WE RESPOND: by regulators, prompt
support underprivileged youth By providing dedicated media contacts, and resolution of issues.
and families. offering timely and accurate information on
company affairs of public interest. HOW WE RESPOND:
PROGRESS DURING 2016: By committing ourselves to
For greater, more targeted impact, we have PROGRESS DURING 2016: comply with applicable laws,
streamlined sponsorships to align with the • With 64 press releases, media engagement putting in place policies
business and our community investment focus. remained consistently strong in 2016 and procedures to ensure
• Timely announcements. Well-handled compliance.
PL ANS FOR 2017: communications on outages through timely
To work with high-performing VWOs and/ updates on various channels including PROGRESS DURING 2016:
or other organisations to effect meaningful mainstream media and social media No significant changes
outcomes for disadvantaged groups in the were implemented in the
community. PL ANS FOR 2017: reporting year.
To maintain the existing level of media
engagement, with timely and accurate PL ANS FOR 2017:
company information. To maintain the current level
of dialogue with adherence
to regulations, as well as
prompt reporting and
resolution of issues.
Membership of Associations
StarHub actively engages with a number of national and international trade associations and advocacy organisations through
membership and participation in committees or work groups.
For example, Tan Tong Hai, Jeannie Ong, StarHub’s Kevin Lim, CCO of StarHub Howie Lau, CMO of StarHub,
CEO of StarHub, is a CSPO and Head of holds the following is President of Singapore
corporate representative to Sustainability, serves on the positions: Councillor with Computer Society.
Singapore Chinese Chamber Management Committee of the Singapore infocomm
of Commerce & Industry Global Compact Network Technology Federation (SiTF)
(SCCCI). Singapore (GCNS), and is a where he is also advisor to
Director of Investor Relations the Digital Media Chapter.
Professional Association
of Singapore. She is also
a council member at the
Singapore-Guangdong
Collaboration Council and a
member of Business China
Singapore’s Publicity
sub-committee.
Trade Associations Trade Unions NGOs & Advocacy Groups*
HOW WE ENGAGE: HOW WE ENGAGE: HOW WE ENGAGE:

Joining relevant trade Open, timely dialogue with the union. Attending conferences, meeting with interest
associations. Collaborative partnership to enhance groups, and sustainability reporting.
employees’ welfare and skills upgrading.
STAKEHOLDERS’ STAKEHOLDERS’ EXPECTATIONS:
EXPECTATIONS: STAKEHOLDERS’ EXPECTATIONS: Responsible business practices, reducing
Support in addressing issues Access to employees for promoting environmental impacts, and disclosing
facing the industry. membership, open and honest dialogue with information about sustainability performance.
management.
HOW WE RESPOND: HOW WE RESPOND:
By contributing through HOW WE RESPOND: By committing to wider sustainability
active membership and By maintaining open communication with programmes that seek to harmonise our
participating in industry the union. We have signed a Memorandum of economic, social and environmental goals.
forums and dialogues, Understanding (MOU) with Singapore Industrial
sharing knowledge and and Services Employees’ Union (SISEU) which PROGRESS DURING 2016:
information. allows rank and file employees to participate in Worked with a number of VWOs and NGOs to
recreational and social activities organised by support programmes for communities and the
PROGRESS DURING 2016: the Union. environment as reported in the chapters on
No significant changes Our Environment and Our Community.
were implemented in the PROGRESS DURING 2016:
reporting year. • We have extended our sponsorship of PL ANS FOR 2017:
membership fees from rank and file To work more closely with advocacy groups to
PL ANS FOR 2017: employees to include junior executive integrate sustainability more broadly into the
No major plans for positions business.
enhanced engagement • We continue our collaborative efforts with
have been scheduled for the SISEU in encouraging employees’ training
year 2017. and skills upgrading
PL ANS FOR 2017:

We will continue to work closely with SISEU
to ensure our employees’ skills stay relevant
Sustainability
as we undergo business transformation, by
tapping on the NTUC, WSG and e2i training
programmes and grants to support upgrading
of our employees’ skills. * e.g. GCNS, human rights groups, WWF, etc.
A list of StarHub’s membership to some of the associations and other organisations is provided here:
Membership of Associations/Organisations
American Chamber of Current Analysis Ovum Enterprise IT Singapore Chinese Singapore International
Commerce, Singapore Games Exchange Alliances knowledge Centre Chamber of Commerce Chamber of Commerce
Asia Digital Marketing & Industry Singapore National
Global Compact Network Pacific
Association Singapore Telecommunications Singapore Computer Employers’ Federation
Asia Pacific Network Council Society Singapore Press Club
GSMA Development Fund
Information Centre Promax Asia Singapore Corporate Singapore Training and
GSMA Wireless Intelligence Counsel Association
Association of Media Subscription Routing Asset Database Development Association
Owners Singapore Hotel Singapore Manufacturing
Institute of Advertising, Singapore Academy
Association of Small Association Federation
Singapore of Law
& Medium Enterprises Singapore Human Singapore Retailers
Institute of Public Singapore Advanced
(ASME), Singapore Resource Institute Association
Relations, Singapore Research & Education
British Chamber of Network Singapore Indian Chamber TM Forum
Commerce, Singapore Investor Relations of Commerce & Industry
Professional Association, Singapore Association Wireless Broadband
Cable Television Singapore of the Institute of Singapore infocomm Alliance
Laboratories (CableLabs) Chartered Secretaries & Technology Federation
Law Society of Singapore Administrators
CASBAA Singapore Institute of
Lawnet for Legal Research Singapore Business Management
Contact Centre
Association of Singapore Federation
continued
Our Materiality Topics

We identify material topics for reporting based
on the significance of our ESG and economic
Environment • Energy For more details, go to
page 98
impacts and the degree of influence they have • Emissions
on stakeholder assessments and decisions. • Effluents and Waste
We review our material topics every year in Important but not material topic:
the light of fresh stakeholder feedback, new • Water
trends in sustainability, challenges facing the
telecom and media industries, experts’ views
and our own business goals. Social Marketplace For more details, go to
page 104
• Customer Satisfaction
We are focused on those ESG and economic • Cyber Security
topics where we see the most potential for
• Customer Privacy
creating maximum value for shareholders and
• Procurement Practices
stakeholders. This involves managing ESG
risks and opportunities across the value chain. GRI Telecommunication Sector Indicators:
The impacts that occur outside StarHub, • Reliable access to telecom services
such as in the value chain, are challenging • Clarity of Charges and Tariffs
to deal with as we may have little or no • Customer Relations
control on some of these. Our approach is to
engage our value chain partners, wherever GRI G4 Media Sector Disclosures:
possible, to address the ESG impacts in their • Content Creation
operations. For example, we engage with • Content Dissemination
our key suppliers through an annual supplier Other Topics:
sustainability assessment and share the results • Cyber Security
in this report (see Our Marketplace chapter).
Workplace For more details, go to

Presented here is a summary of our material page 108
topics and their boundaries. • Employment
• Diversity and Equal Opportunity
• Training and Education
• Employee Turnover
• Occupational Health and Safety
Important but not material topic:
• Non-discrimination
• Freedom of Association
• Child Labour
• Forced or Compulsory Labour

Community page 114
• Local Communities
GRI Telecommunication Sector Indicators:
• Access to Telecom Products and
Services/Bridging Digital Divide
• Access to Content
Economic • Economic Performance For more details, go to

page 118
• Indirect Economic Impacts
GRI Telecommunication Sector Indicators:
• Infrastructure
Boundary of Our Material Topics

A summary of StarHub’s material environmental, social and economic topics, where the impacts occur and StarHub’s
involvement with the impacts is presented below. Our indirect involvement indicates the impacts that occur outside
StarHub such as the value chain where we may not have much control. A more detailed discussion on the material topics,
including the management approach, how we evaluate the management approach, StarHub’s involvement with the
impacts, and the topic boundary limitations, if any, is provided in the respective chapters of this report.
Our Material Topics Where the StarHub’s Material for

(GRI Standards) Impacts Occur Involvement StarHub Subsidiaries
Environment
• Energy All
• Emissions All
• Effluents and Waste All
Social
Workplace
• Employment All
• Diversity and Equal Opportunity All
• Training and Education All
• Employee Turnover All
• Health and Safety All
• Human Rights All
Marketplace
• Supply Chain Sustainability All
• Cyber Security StarHub Mobile Pte Ltd
Sustainability
• Customer Privacy All
GRI Telecommunication Sector Disclosure:

• Customer Relations & StarHub Mobile Pte Ltd
GRI G4 Media Sector Disclosure:

• Content Creation StarHub Cable Vision Ltd
• Content Dissemination StarHub Cable Vision Ltd
• Audience Interaction StarHub Cable Vision Ltd
• Media Literacy StarHub Cable Vision Ltd
Community
• Local Communities All

• Access to Telecom Products and Services/
Bridging Digital Divide StarHub Mobile Pte Ltd
• Access to Content StarHub Mobile Pte Ltd
Economic
• Economic Performance All
• Indirect Economic Impacts All

• Infrastructure StarHub Mobile Pte Ltd
StarHub Suppliers/Business Partners/Suppliers StarHub/Business Partners Business Partners Direct Indirect

continued
OUR ENVIRONMENT
1 Minimise energy 4 Reduce and 6 Encourage 7 Comply with

How We intensity. recycle waste. customers regulations.
Create Value 2 Reduce greenhouse 5 Increase employee to minimise
gas emissions. awareness about environmental
environmental issues. impact.
3 Conserve water.
Performance
Highlights
Energy Intensity: Carbon Emissions Intensity: Water Use: General Waste: Total e-waste recycled
183 GJ 22.7 tonnes 28,421m 40 tonnes

(including RENEW):
438 tonnes
3
per $M revenue CO2e per $M revenue
OUR
ENVIRONMENT
We are focused on creating value by 4 We will adopt environmentally friendly

continuously minimising the environmental technologies as far as possible, when ordering
impacts of our business operations. and purchasing necessary resources.
Our management approach is to minimise our 5 We will implement education programmes

environmental impacts even as we expand to raise environmental awareness among
and upgrade our network infrastructure to our employees so that they recognise the
continuously enhance customer experience. essence of this Green Policy by actively
We support a precautionary approach to addressing environmental concerns.
environmental challenges by addressing the
material environmental risks and impacts in 6 We will make social contributions in close
our operations. partnership with local communities by
disclosing environmental information and
Our environmental efforts are focused on supporting environmental conservation
reducing energy consumption, greenhouse initiatives.
gas emissions and waste management. We
also try to conserve water which is a precious This report presents several initiatives we have
natural resource. Other than our operational taken in line with our Green Policy.
efforts to minimise environmental impacts, we
actively encourage our employees, customers Climate Change
and communities to participate in StarHub’s Singapore, where our operations are mainly
environmental programmes. concentrated, is not immune to climate
change. According to studies undertaken
We regularly review and evaluate the by the National Climate Change Secretariat,
effectiveness of our approach by various the annual mean temperature has increased
means including stakeholder feedback and from 26.6°C to 27.7°C from 1972 to 2014. The
our environmental performance. mean sea level in the Straits of Singapore has
Sustainability
also risen at the rate of 1.2mm to 1.7mm per
StarHub Commitment year in the period 1975 to 2009. Recent years
We have refreshed the StarHub Green Policy, have also witnessed an increase in rainfall.
first launched in 2009, to address our material The annual average rainfall has increased
environmental impacts. The six commitments from 2,192mm in 1980 to 2,727mm in 2014.
we have made through the Green Policy are:
Singapore has pledged to reduce national
1 We will adopt responsible and sustainable emission intensity by 36% from 2005 levels by
practices in our corporate activities to 2030 and to stabilise the country’s emissions
minimise the environmental impact of with the aim of peaking around 2030. We are
our operations. We will continually review committed to doing our part by striving to
our goals and commitment to protect the become more energy efficient and minimise
global environment as much as possible. our carbon footprint. We adopted energy
efficient technologies when we recently
2 We will adhere to, as much as possible, upgraded our telecom infrastructure. As a
environmental recommendations by the result, our absolute GHG emissions have
relevant authorities and also implement dropped 11% in 2016 compared with 2010
in-house targets to improve our even as we expanded our infrastructure.
environmental performance.
We believe the information and
3 We will reduce our environmental loads by communications technology (ICT) industry
efficiently using resources, saving energy, has great potential especially in the area
reducing waste, encouraging material of developing green data centres through
recycling and minimising emissions of research and innovation. In our view, wireless
greenhouse gases and ozone-depleting and telecom technologies have an important
substances. role to play in the world’s transition to a lower
carbon economy.
continued
OUR ENVIRONMENT
Our Performance Solar Energy

Green Building We operate two solar-powered mobile
We reduce our environmental impact by base transceiver stations (BTS) located at our
We also joined headquarters, StarHub Green and on the roof
operating from certified green buildings.
hands with ST Our head office StarHub Green is located of IKEA Alexandra. The two stations annually
Telemedia to in a Green Mark Gold certified building. The save approximately 8,000 kWh energy or
jointly develop STT building, certified green by the Building and about 3,599 kg of CO2. We have also invested
MediaHub, a highly Construction Authority (BCA), saves energy in Singapore’s first solar-powered BTS-enabled
specialised tele- and water and provides healthier indoor air for vehicle used to boost signal strength.
our employees and visitors.
communications, GHG Emissions
media and data We also joined hands with ST Telemedia Our management approach is to progressively
centre facility to jointly develop STT MediaHub, a highly reduce our organisational carbon footprint by
which was awarded specialised telecommunications, media and improving energy efficiency and minimising
the BCA-IDA Green data centre facility which was awarded the energy consumption. StarHub’s greenhouse
BCA-IDA Green Mark Platinum for New gas (GHG) emissions can be attributed to
Mark Platinum for the use of electricity, diesel and petrol. Our
Data Centres.
New Data Centres. emission intensity in 2016 was calculated
Energy to be 22.7 tCO2 per million $ in revenue,
Our management approach is to minimise compared with 23.2 tCO2 in the preceding
the use of fossil fuel energy. Data centres, year. Emissions from electricity represented
base stations, offices and transport 99% of our total carbon. Our overall GHG
operations account for most of our energy emission was slightly lower in 2016, mainly
use. We are focused on adopting energy- attributable to less use of refrigerant gases
efficient technologies and saving energy included in the Kyoto Protocol.
through employee awareness. We have
improved energy efficiency in our data Ozone Depleting Fugitive Emissions
centres by improvements in cabling and Our ozone depleting fugitive emissions,
air-conditioning equipment. This year’s attributed to the use of refrigerant R22 in
electricity data includes consumption at air-conditioning equipment, amounted
STT MediaHub where we started moving to 143 tCO2e in 2016 as against 786 tCO2e
some of the telco and media operations in the prior year.
from July 2016.
Scope 3 Emissions
Green Network Our current reporting of Scope 3 emissions
We have modernised our 2G and 3G networks or other indirect emissions includes emissions
which consume less power and added an from use of electricity by our exclusive retail
energy-efficient 4G network resulting in a partners. In 2016, the Scope 3 emissions were
substantial reduction in energy consumption. calculated to be 187 tCO2, compared to
217 tCO2 in the prior year.
Detailed Emissions Summary (CO2e tonnes)

Emission Sources FY 2016 FY 2015 FY 2014
Scope 1
Stationary Combustion 65 112 87
Mobile Combustion 487 568 600
Fugitive emissions (refrigerant gases) 9 1,252 494
Total Scope 1 emissions 561 1,932 1,181
Scope 2
Purchased electricity 53,957 54,774 53,444
Total Scope 2 emissions 53,957 54,774 53,444
Total CO2e emissions 54,518 56,706 54,625
Waste
Our management approach is to reduce,
StarHub’s Green Marketing Journey
reuse and recycle waste wherever possible Over the years, we have implemented several initiatives to reduce printed
through employee awareness. Waste from marketing material.
our operations includes paper, packaging
waste and e-waste. We recycle our e-waste Invitations to our marketing events are mostly sent as e-invites. We have
through licensed waste management switched to sending e-cards during festive seasons from the conventional
contractors. We also help our customers printed greeting cards. Electronic version of the latest issues of our
recycle their used mobile phones and cable newsletters to business customers are now available online on our
TV set top boxes and remote controls. website. Our Annual Reports are printed in limited number on FSC certified
sustainably sourced paper.
REcycling Nation’s Electronic Waste
(RENEW) Other initiatives have included:
RENEW is an award-winning initiative aimed
at encouraging the public to recycle their
e-waste. RENEW, our collaboration with
logistics provider DHL and waste recycler
TES-AMM, collects e-waste from public through
collection bins placed across the island.
People can drop their unwanted electronic

2014
items such as answering machines, cables,
car stereos, computer mice, CDs/ DVDs, 2013 We also replaced
our paper bags
docking stations, CD/ DVD/ VCD players, with new reusable
electronic toys, hard drives, keyboards,
laptops, lithium-ion (Li-ion) batteries, mobile
2012 A paperless bill
payment process
carrier bags. The
bags are labelled
was introduced at with the Recycling
phones, modems, MP3 players, printed circuit
2009 StarHub customers our retail shops, Code 5 symbol,
Sustainability
boards, printers, remote controls, routers, can opt to save printing out bills to help recyclers
set-top boxes, telephones, VCRs and wires in paper by receiving only for customers identify the
Annual Reports electronic who request a hard specific type of
the designated bins. DHL helps transport the copy for retention. recycling required.
and EGM Circulars statements instead
e-waste safely to TES-AMM’s recycling facility. available in digital of printed bills with
format. MyStarHub e-bill. Introduced the
There are now 325 bins across 274 locations. Complementing Board Portal to
Close to 59 tonnes of e-waste collected from MyStarHub e-bill replace all printed
is the My StarHub Board documents.
the public in 2016 was recycled, as against app, available on The initiative saves
31.7 tonnes in the preceding year. both the iOS and an estimated 2,000
Android platforms. sheets of paper
Recycling The app allows each year.
StarHub customers
Figures for our paper and e-waste recycling
to view their
programmes are presented in the chart. account details,
such as billing
Water information,
We use water only for drinking, washing, on their mobile
devices at their
and cooling equipment. Even though water convenience,
is not considered a material impact of our encouraging them
operations, we make efforts to conserve to go paperless.
water as Singapore lacks natural fresh water StarHub also
removed Business
resources. Our office building, which is
Reply Envelopes
certified Green Mark Gold, is installed with from mailed bills
water efficient fittings, fixtures and flushing in 2012, an effort
system. We also regularly measure, monitor which saves about
and report our water consumption. 15 tonnes of paper
each year.
continued
OUR ENVIRONMENT
StarHub Customers Performance Charts

Case Study
Donate Reward Points
The StarHub Rewards Redemption for Charity
My StarHub e-Bill Emission Intensity
My StarHub e-bill is an programme encourages our customers to use
tCO2e
initiative to encourage their Rewards points to make a tax-deductible
customers to switch from $5 donation to World Wide Fund for Nature
receiving printed bills to 2014 22.9
(WWF). In 2016, the redemption donation
electronic statements. As of
31 December 2016, 242,740 amounted to $10,375.
2015 23.2
billing accounts were on the
scheme as against 154,060 Compliance
accounts at the end of 2016 22.7
StarHub was not fined or sanctioned for any
2015. We have introduced
non-compliance with environmental laws or
paperless billing system at
our retail shops, printing regulations in 2016. tCO2e emission per $million revenue
out bills only for customers
who request a hard copy for Environmental advocacy
retention. The initiative saved Environmental advocacy is one of the
an estimated 1.1 million
sheets of paper in 2016. key components of our environmental Fuel Consumption
programme. Our approach is to engage our (thousand) litres
Sustainable Paper employees, customers, business partners,
To reduce impact on the students and other stakeholders to spread 2014 117 32 123
environment, we use
awareness of environmental issues. Some
sustainably sourced
Forest Stewardship Council of the initiatives we undertook in 2016 are 2015 113 42 114
(FSC) Certified office described below.
paper. Through employee 2016 93 24 103
awareness, we strive to Awareness
reduce paper use by judicious
printing. We have also As part of our Green Learning Journey,
Diesel (mobile combustion)
implemented Managed Print an ongoing in-house programme to Diesel (stationary combustion)
Services (MPS) to optimise raise environmental awareness amongst Petrol (mobile combustion)
paper use. Our FSC paper employees, trips to the NEWater Plant and
consumption in 2016 was
Semakau Landfill were organised. Both
28,340kg, compared with General Waste
40,065 kg in the previous tours centred on innovations in resource
tonnes
year. Consequently, through conservation and waste management in
the transition to MPS, the use resource-scarce Singapore, along with
of printer toner cartridges 2014 33
practical tips on reducing our personal
has also been reduced.
carbon footprint.
2015 30
Annual School Green Awards

2016 40
Continuing our 3-year title sponsorship of the
Singapore Environment Council (SEC)-StarHub
School Green Awards (SGA) for the second
year, the SGA has reached out to more youth
in raising awareness of environmental issues
and challenges. The SGA is a programme
aimed at nurturing values and skills within our
young, enabling them to be environmentally-
savvy and proactive in leading and advocating
a sustainable lifestyle. To reflect current
environmental challenges, a new outreach
component was introduced, resulting in
involvement among more than 320,000
students, residents and the wider community.
Earth Hour 2016

Non-essential lights were switched off at the
headquarters at StarHub Green and our stores
on 19 March 2016 for an hour. Our logo on
StarHub Green was also switched off.
Electricity Use Energy Intensity Sources of GHG

million KWh gigajoules
Emissions 2016
2014 118.8 2014 183
2015 121.7 2015 183

2016
2016 119.9 2016 183
Energy consumption – GJ per $million revenue
Purchased
98.97%
electricity
Water Consumption Total Energy Consumption Mobile
0.89%
combustion
cubic metres gigajoules
Stationary
0.12%
combustion
2014 27,832 2014 437,466
Fugitive
emissions
0.02%
2015 27,500 2015 448,012 (refrigerant
gases)
2016 28,421 2016 439,721
Sustainability
Internal E-waste Recycled E-waste Recycled via RENEW
tonnes tonnes
2014 385 2014 8.7
2015 117 2015 31.7
2016 379 2016 58.8

continued
OUR MARKETPLACE
1 Ensure reliable 2 Customer 4 Protect customer 6 Protect children

How We access to telecom, satisfaction through privacy and against undesirable
Create Value broadband and service excellence. personal data. content through
TV services. 3 Cyber Security. 5 Create and safeguards.
disseminate content 7 Ensure clarity
with responsibility. of tariffs.
OUR
MARKETPLACE
We are focused on providing every on 22 October and 24 October which caused

person, every home and every business in intermittent web connection issues for some
Singapore with world-class information, of our home broadband customers.
communication and entertainment services.
On both occasions, we mitigated the attacks
Our management approach is to build a and restored service within two hours. No
trusted brand through innovation, integrity impact was observed on the rest of our
and customer service excellence. Our services, and the security of our customers’
marketplace practices are aimed at creating information was not compromised. We kept
long-term value for our business. customers informed on these matters via our
hotline and social media.
Our mobile, broadband and fixed network
services connect millions of customers and StarHub Cyber Security
businesses making their lives better. Our Pay Centre of Excellence
TV service delivers world-class entertainment StarHub has committed to supporting the
to almost half a million households, enriching development of the cyber security ecosystem
their lives. Continuously enhancing customer in Singapore.
experience is our number one priority. Our
people work round the clock to ensure that In May 2016, we launched StarHub’s Cyber
our customers enjoy uninterrupted digital Security COE. The Cyber Security COE,
communication and entertainment the way established by StarHub and supported by the
they like it. Economic Development Board (EDB) serves
as a hub for the cyber security ecosystem,
We believe that tariff transparency, customer bringing together the best of brains and
experience, privacy, accessibility to telecom expertise to tackle cyber threats, which
services, responsible content and supply are among other serious risks affecting
chain sustainability are all important issues for economies globally today.
Sustainability
us to focus on.
The Cyber Security COE is a broad
Mobile Accessibility collaboration between StarHub and a number
As smartphones become indispensable tools of industry partners and Institutes of Higher
for everyone to communicate, connect, Learning (IHL). Early partners include Blue
shop and access a host of personal and Coat, Cyberbit, Fortinet, Wedge Networks
public services, mobile accessibility has and Coronet as well as Nanyang Polytechnic
become more important than ever before. (NYP), Republic Polytechnic, Temasek
StarHub’s quality and reliability of service has Polytechnic and Singapore University of
consistently remained above 99.9% as we Technology and Design.
have continued to strengthen our network.
Together with StarHub, the partners will
Our telecom services are available in a wide undertake various initiatives to strengthen
range of packages to meet the needs of all Singapore’s capabilities in cyber security,
sections of society. We respect human rights focusing on talent development, innovation
to the access and use of telecommunication and industry partnerships.
products and services and follow the policies
issued by the IMDA. We have also committed to addressing the
shortage of cyber security talent in Singapore
Our Business Continuity Management by training at least 300 specialists on different
(BCM) programme focuses on providing, cyber related capabilities and skill sets over
maintaining and promptly recovering our the next five years. We have teamed up with
info-communication services in the event the four IHLs and the Cyber Security Agency
of an emergency, disaster or crisis situations of Singapore (CSA) to enhance cyber security
including pandemic, haze and cyber attacks. training curriculum and programmes, and to
collaborate on research and development.
Service Disruption by Cyber Attacks
We experienced intentional and potentially As a first step, StarHub and NYP have jointly
malicious Distributed Denial-of-Service (DDoS) established a lab on NYP campus to provide
attacks on our Domain Name Servers (DNS) hands-on training for students of Cyber
continued
OUR MARKETPLACE
Security & Forensics. These students security, national harmony, or that is app to manage their overseas data bills
will subsequently have the opportunity illegal under Singapore laws. and cap roaming expenses.
to learn directly from experienced
cyber security professionals during their We offer services that help customers Customer Satisfaction
internship placements at StarHub or our to make informed choices with respect We gather feedback and insights
industry partners. to what kind of content their children from our customers through various
can access. For example, our Parental channels. Insights gathered through the
The Cyber Security COE’s first Control facility offers Parental Lock and NPS, a customer loyalty metric, have
commercial initiative is the first-of- Purchase Lock features. Customers can helped us improve our customer service
its-kind Security Operations Centre use the Parental Lock feature to control and systems in a targeted manner.
at StarHub (named StarHub Security what their children can watch. The
Operations Centre), whereby StarHub’s Purchase Lock feature allows customers Since 2013, frontliners have been
core infrastructure is integrated with to prevent their children from making successfully cross-trained to handle
round-the-clock proactive cyber threat unauthorised channel subscription(s) or both sales and post-sales transactions.
detection capabilities. Video on Demand (VOD) purchase(s). This seamless integration, the visual
Customers can use the Rating Level revamp and enhanced customer flow
Cyber-attacks come through wired and feature to block rated VOD content within the StarHub retail stores has
wireless networks. As a telco, StarHub’s according to rating level set. delighted customers. We will continue
core networks are thus a strategic to introduce a number of enhancements
location to monitor and detect potential We continue to promote content in to customer service.
malicious data traffic early and perform all national languages. We support art,
mitigation. In addition, cyber security culture and education by promoting Customers who are pressed for time
solutions to protect industrial control TV programmes for schools, can now make e-appointments prior
systems and cloud-based cyber security educational TV shows, news and to shop visits. In 2016, we also piloted
solutions are being developed. information programmes; arts and a Click and Collect option for customers
cultural programmes; and drama and who wish to collect their devices
StarHub and the Cyber Security COE sports programmes. from our shops instead of home
partners will jointly invest $200 million deliveries. This ‘shop online-collect
over the next five years to support a We have partnered with the IMDA to offline’ option has been well received.
sustainable cyber security ecosystem. produce local content for PSB. In 2016, At the contact centre, we introduced
StarHub committed to commissioning guided workflows via an e-Butler tool
Content Responsibility about 110 hours of original productions to facilitate our staff’s interactions
Protecting young users of our services aimed at supporting PSB values, such as with customers over the phone. This
from harmful content is an important celebration of the Singapore’s culture tool also fetched relevant information
issue for us. JuniorProtect Basic is a and heritage, and promotion of the from various sources to enable our
StarHub service that lets kids explore Singaporean identity, through innovative staff to resolve customers’ concerns
the Internet safely across devices, storytelling. promptly during the call interaction.
blocking out harmful websites and With our omni-channel focus, we are
content on both mobile and PC. Tariff Transparency constantly refining the ‘how’ and ‘when’
Targeted at StarHub’s pre-defined We are committed to transparent of interacting with customers. Simple
categories as Juniors (Age 7 to 12) and communication of our tariffs and transactions can be done over a mobile
Teens (Age 13 to 16), the service uses charges through various marketing application called My StarHub. The app
default content filters as required by the channels. Our price plans are has seen constant improvements over
IMDA. Parents, who have subscribed prominently displayed at all retail the years and its latest enhancement in
to the service for their child, can also outlets and are available on our late 2016 aims to make transactions as
set access rules across 15 categories website. Our customer service effortless as possible for our customers.
considered undesirable for young minds staff are provided training to clearly They can pay bills, check data, book
via a web portal. communicate the pricing structure e-appointments, redeem rewards and
and the contract terms to all customers activate roaming with just a few taps.
Content Values at the time of signing contracts.
We are committed to promoting safe
and responsible use of our mobile We measure and publish typical range
services. In line with the Voluntary Code of Internet speeds for our broadband
for Self-regulation of Mobile Content in plans on our website to maintain
Singapore, our policies prohibit content transparency. We have taken measures
that is objectionable on the grounds of to protect our customers from ‘bill
public interest, public morality, public shock’. Customers can use My StarHub
Privacy and Data Security An overview of our supply chain is illustrated below.
We respect our customers’ privacy. Our Customer Sales &
Business External Collaterals Soft Content Own
IT suppliers Premise Fulfilment End of Life
approach is to adhere to the privacy and Unit Suppliers Suppliers Network Equipment Channels
data protection laws of Singapore and Mobile
other applicable regulations and standards. 2G, handsets,
Traded-in
Mobile Apps 3G, SIM cards,
We regularly review our customer privacy Printers Stores, handsets,
4G mobile
(of Customer Exclusive donated
and data protection processes to ensure accessories
publicity/ Relationship Partners, handsets,
marketing Programmes Manage- Hybrid
compliance. We have implemented a strict materials), (content Fibre
Resellers, take-back
ment, Set-top Sales of faulty/
personal data protection policy and have TV corporate providers and Enterprise Coaxial
boxes Partners, obsolete
gift production Planning (HFC), Direct equipment
taken the necessary measures to protect vendors, partners) Resource, Fibre IP Sales, for
our customers’ personal data. For example, etc. Billing Cable Retail recycling,
Fibre Database, HFC, Chain recycling of
we do not send promotional and marketing Broadband
Storage, Fibre IP
modems,
Stores, surplus/old
routers
messages via phone calls, text messages and etc. Field marketing/
Fibre, Services publicity
faxes to the customers who have opted out Customer
Enterprise Fibre IP, material
premise
from receiving marketing messages through Fixed Undersea
equipment
Cable
these channels. Customers can modify their Intranet Expendable
consent through our StarHub web portal. Corporate Office office
IT hardware supplies
Our detailed Personal Data Protection Policy

is available on the StarHub website.
Supplier Sustainability Survey
Supply Chain Sustainability Our annual Supplier Sustainability Survey covered our top 73 vendors and
Our management approach is to source business partners in 2016. The Survey, based on a set of questions relating
responsibly and work with our suppliers to to important sustainability topics, aims to assess our suppliers’ sustainability
promote ethical conduct throughout the commitment and performance. The 2016 Survey findings are presented below.
value chain. We choose vendors, suppliers
and contractors fairly and require them to
Supplier Sustainability Survey Result
Sustainability
commit to our ethical code of conduct. (proportion of vendors with sustainability initiatives in 2016)
%
Our supply chain includes providers of
Environment policy 42
products and services for our Mobile,
Pay TV, Broadband and Enterprise Fixed Recycling programme 45
business lines. This also covers network Use renewable energy 57
equipment, consumer handsets and customer Measuring environmental impacts 22
premise equipment.
Environmental reporting 23
Our supplier relationships include dominant Social responsibility policy 43

vendors who are among the largest Corporate philanthropy fund 52
corporations in the world. Several of them Social outreach initiatives 25
have publicly committed to sustainability. Risk management policy 62
We recognise that our ability to influence
them is somewhat limited. Our approach is Whistle blowing policy 43
to engage with them whenever possible and Employee code of conduct 67
work together to support responsible business Business continuity management policy 55
practices. We also engage a selected group of Non-discrimination policy 52
suppliers and business partners through
Freedom of association policy 47
a supplier sustainability survey questionnaire.
Child labour policy 48
Our supply chain spend exceeded
$1.9 billion in 2016. Out of the 2,449 vendors
that we purchased from, 85% were local.
Local suppliers’ share in our total purchase Anti-corruption
was 86%. We follow a zero-tolerance policy toward fraud and unethical conduct
including corruption and bribery. StarHub’s Employee Code of Conduct and
Ethics and the Corporate Gift and Hospitality Policy cover business conduct
including employees’ compliance with anti-corruption and anti-bribery laws.
There was no reported incident of corruption in the reporting period.
continued
OUR WORKPLACE
1 Attract, nurture and 3 Promote teamwork as 5 Develop people through

How We retain talent. a core value. regular training and education.
Create Value 2 Nurture a caring workplace 4 Promote diversity and 6 Ensure health and safety
based on fair and inclusive providing equal opportunity. at workplace.
employment practices. 7 Encourage employee volunteering.
Performance
Highlights
Women in Women Heads Local Employees: Training Hours Training Spend Employee Fatal Employee
Workforce: of Department: (Singaporeans) Per Employee: Per Employee: Turnover: Accidents: Satisfaction Rate:
42% 33% 75% 19 $784 12% 0 91%
OUR
WORKPLACE
We are focused on creating a high We are also committed to promoting an

performing organisation based on respect, inclusive workplace and offering employment
teamwork, inclusivity and excellence. opportunities to persons with disabilities.
We employed four persons with physical
Our management approach is to continually disabilities in 2016.
invest in people so that they can deliver value
to our customers and other stakeholders. Equal Remuneration
Our human resource policies are aimed at for Men and Women
developing a high-performing organisation by Our management approach is to offer
creating a fair, inclusive, engaging and fulfilling remuneration based on merit and experience
workplace. Our policies promote merit-based without any gender discrimination.
hiring and remuneration, teamwork, safe
and healthy working conditions, diversity, Ratio of base salary:
reward and recognition for performance, Female to Male (2016)
people development, career growth, work-life
balance, and employee volunteering.
StarHub management regularly reviews HR Employee Category Female Male
policies and performance including hiring, Senior Manager & above 1.0 1.1
diversity and equal opportunity, training, Middle Manager 1.0 1.1
performance management and occupational
health and safety. Executive 1.0 1.0
Non-Executive 1.0 1.1
We are proud to have achieved the People
Developer (PD) certification in 2016, awarded 2016 2015 2014
by SPRING Singapore, in recognition of Female 1 1 1
our efforts to develop our people to drive
Male 1.1 1.1 1.1
business excellence.
Sustainability
Our People
StarHub employed 2,965 people in 2016 Employee Profile
with a median age of 37 years. Permanent
employees, which include part-time
employees, represented 90.6% of the total
headcount. Employees with managerial or Permanent
90.3%
employees
supervisory roles accounted for 16% of the
2016 Contract
workforce. The Customer Service Experience 9.4%
employees
(30%), StarHub Integrated NW Engineering Part-time
0.3%
(23%), Enterprise Business Group (13%), employees
and Information Services (11%) divisions
accounted for the largest shares of the
headcount.
Our Performance
Diversity and equal opportunity
Our mission is to nurture a diverse and
inclusive workplace. Our policies promote
diversity and meritocracy. We strive to
offer equal opportunity in hiring, career
advancement, promotions and remuneration
strictly based on merit irrespective of gender,
age, racial, ethnic or cultural background.
StarHub’s Board includes one female director

who holds the position of an independent
director. There are four women in the
11-member strong senior management team.
continued
OUR WORKPLACE
Diversity at StarHub New Hiring
Gender Diversity Gender Profile by Employee Category New Hiring by Gender

% %
Snr. Managers
2014 57 43 & above 63 37
Middle
Managers 64 36
2015 57 43
Executives 56 44 2016
2016 58 42 Non-exec 13 87
Male Female Male Female

Male 62%
Female 38%
Gender Diversity: StarHub Vs Infocomm Gender Diversity (Department/Division/Section Heads)

% %
Male 58 2014 67 33
employees New Hiring by Age Group
61
2015 67 33
Female 42
employees 39 2016 67 33
StarHub Male Female 2016

National Infocomm Industry (source: MOM Year Book 2016)
Age Diversity by Gender Ethnic Diversity

% % < 30 years 48%
30-50 years 50%
<30 years 55 45 Chinese 75
75 Above 50 years 2%
30-40 years 55 45 Malay 7
13
41-50 years 62 38 Indian 6
9
> 50 years 65 35 Others 12
3
Male Female StarHub

National Ethnic Composition
(source: Population trends 2016, Dept of Stat, Singapore)
Age Diversity Local Employees
< 30 years 18% Singapore

75%
30-40 years 47% citizens
2016 2016
41-50 years 27% Singapore PR 12%
Above 50 years 8% Foreigners 13%
Learning and Development Employee Turnover
Average Training Hours Employee Turnover

by Category and Gender %
hours
14
2014 26
Snr. Managers 18
& above 26 27 12
2015 24
Middle 19
Managers 27 23 12
2016 22
22
Executives 21 14
StarHub National average Telecom Industry

Male Female
Training Expenditure Employee Turnover By Age Group

$ %
27
2014 873 2014 11
4
20
2015 611 2015 11
5
20
2016 784 2016 11
7
Training expenditure per employee < 30 years 30-50 years Above 50 years
Sustainability
Employee Turnover By Gender
Learning and Development
%
Our management approach is to invest in people development to build a high
performing organisation. Our Learning & Development Framework is focused 15
2014
on ensuring our employees have the appropriate learning and development 13
opportunities to build functional and technical skills to succeed in their jobs, 13
2015
and the management and leadership skills to inspire and lead teams to perform. 12
13
2016
We also collaborate with multiple government agencies such as SkillsFuture 12
Singapore, the IMDA, and the Economic Development Board to maximise
learning and funding opportunities for our employees. Female Male
In 2016, we rolled out an enhanced development roadmap for first-time

managers to provide ongoing coaching support, build a sense of community
Training Hours per Employee by Gender
and interaction among peers and more targeted learning opportunities. We
hours
also organised several experiential micro-learning sessions on topics like
coaching, management skills and change management to encourage practical
2014 17 17
application of learning after training.
2015 21 19
We achieved PD certification in 2016 in recognition of our continued efforts to
strive for improvement and business excellence by bringing out the best in our
people and make StarHub a truly high performing organisation. 2016 22 16
We invested $2.1 million on training in 2016, up from $1.7 million spent Male Female
in the previous year. We received a confirmed amount of $368,915 in training
subsidy from various government agencies. In total, we provided 52,354 hours
of training. Training expenditure per employee was $784, higher than $611 per
employee in the prior year.
continued
OUR WORKPLACE
Performance Management Our own operations are mainly concentrated

Our performance management system in Singapore. We have determined that the
covers all StarHub employees and includes potential risk of child labour, forced labour,
We will continue discrimination and violation of freedom of
periodic performance reviews and career
to stay focused on development discussions with employees. All association rights in our own operations
the sustainability StarHub employees, irrespective of gender or is highly unlikely given our strong HR
aspects that are category, received regular performance and policies and management oversight. We
most material career development reviews in 2016. have limited or no control over our supply
for our business chain which includes several dominant
We revamped the performance rating suppliers who have their own publicly known
and for our main system in 2016 to make our performance commitment to supporting human rights.
stakeholders. management system more robust and However, we engage with our key suppliers
effective. Comprehensive training was through an annual supplier sustainability
provided to people managers to equip survey that covers the topics of child labour,
them with relevant skills to hold effective discrimination, forced labour and freedom
performance conversations with their of association (see Our Marketplace chapter
teams. We also rolled out a new Leadership for more).
Development Programme for senior managers
and above to inculcate key leadership traits. MOU with Employees Union
Like previous years, we continued to organise We respect our employees’ right to freedom
internal Career Fairs, Career Guidance of association in accordance with local laws.
workshops and Career Coaching to support In a significant move to collaborate with
employees’ career development efforts. employees union, StarHub and the Singapore
Industrial and Services Employees Union
Employee Benefits (SISEU) signed a MOU for five years in August
Benefits exclusive to StarHub’s permanent 2016. The scope of the collaboration includes
employees, include product benefits, enhancing the well-being of employees and
comprehensive Health Screening, additional providing social, recreational, training and
insurance coverage other than Work Injury skills upgrading benefits.
Compensation insurance coverage, medical
and dental consultation and/or treatment There were no reported incidents of child
reimbursement, transport allowance, labour, discrimination or forced labour in our
training, claim for professional fees for joining own operations in the reporting period.
professional associations, Long Service
Award, entry passes for places of interest, and Employee Satisfaction
tokens for special occasions. We assess the effectiveness of our people
initiatives and policies and the overall HR
StarHub employees also enjoy other benefits support through an annual survey to measure
which include childcare leave, paternity employee satisfaction. In the 2016 Annual HR
leave and shared parental leave, eldercare Satisfaction Survey, 91% of the participants
leave, and access to the supplementary said that the overall HR performance met or
major medical insurance coverage to the exceeded expectations.
employees’ family at special rates.

Human Rights
StarHub is committed to upholding human
rights in line with nationally and internationally
Employee Satisfaction Survey
accepted principles and labour standards
%
such as the core labour standards advocated
by the International Labour Organisation. Our
2014 92
policies prohibit child labour, discrimination
and forced labour in our operations as well as
2015 92
in our supply chains.
2016 91
Employee satisfaction rate

Occupational Health and Safety Siting of masts

Our management approach is to ensure Our policies and practices on the siting of
workplace health and safety by taking masts and transmission sites encourage
preventive measures based on risk assessment stakeholder consultation, site sharing and
and creating employee awareness. measures to reduce visual impacts.
StarHub’s Workplace Safety and Health A brief summary of our sites as of end 2016 is
Committee, represented by management presented below:
and employees, periodically reviews policies,
procedures and practices relating to Type of Site %
occupational health and safety. Nominated Stand-alone Mobile Sites 7.3
Risk Management Champions across the
Shared Sites (Mobile-CAS) 29.1
organisation work closely with the Risk
Assessment team to assess risks for every Sites on Existing Structures 63.6
work activity and process carried out at the
workplace. StarHub continues to be a certified Health Education
bizSafe Level 3 organisation, awarded by We continued organising lunch talks
the Workplace Safety and Health Council and workshops throughout 2016 to raise
Singapore based on an independent audit. employee awareness on health issues.
In 2016, we prioritised workplace health and Enrichment talk topics and engagement
safety through continued investment in first activities organised in 2016 included Eye
aid training and certification. A number of Care Talk, Healthy Crepes Making Workshop,
learning conversations were also organised at Urban Gardening Workshop, Kayaking to
our StarHub Green and Tanjong Pagar offices Seletar Island, and Bring Your Kids to Work
to spread first aid awareness. During the year, Day. In total, 2,562 participants attended
84 employees were certified in the new Office these events, significantly more than 976
Sustainability
First-aid course where these first-aiders are participants in the prior year.
trained to use automated external defibrillator.
Collaboration with
There were no fatal accidents in 2016. There Educational Institutions
were two reported cases for Work Injury We continued to collaborate with post-
Compensation. Injuries sustained included secondary educational institutions in 2016.
those relating to traffic accident, trips and falls We signed a collective three-year MOU with
at workplace, with an absenteeism payroll of Institute of Technical Education, Nanyang
$1,188 based on 18 days of medical leave. Polytechnic, Ngee Ann Polytechnic,
Republic Polytechnic, Singapore Polytechnic
Safety for Field Employees and Temasek Polytechnic to provide a
Our field employees and contractors involved collaborative framework for supporting the
in the installation, operation and maintenance enhanced internships and Earn-and-Learn
of masts, base stations, laying cables and Programme in the Retail Sector under
other outside work are required to adhere to SkillsFuture, a Government initiative to provide
strict safety procedures. Singaporeans with the opportunities to
develop their fullest potential throughout life,
A detailed Code of Practice on WSH Risk regardless of their starting points.
Management, Risk Assessment, safety
procedures for installation of radio equipment The scope of collaboration includes offering
and a disaster recovery plan are included in relevant enhanced internship placements in Our management
our Workplace Safety and Health system. two key functions in the organisation, jointly approach is to
developing and implementing the planned invest in people
We require the contractors undertaking work training programme and assessments that development
at our sites to comply with the provisions are aligned with the learning outcomes, and to build a high
of the Workplace Safety & Health Act. We providing on-the-job training, mentoring of
also require contractors to submit a risk interns, career guidance and explaining earn-
performing
assessment report for approval prior to and-learn opportunities. organisation.
carrying out any work on site.
continued
OUR COMMUNITY
1 Make positive 2 Bridge digital divide. 3 Encourage employee 4 Encourage

How We contribution to volunteering. customers to
Create Value local communities, participate in
focus on the community initiatives.
underprivileged.
Performance
Highlights
Community investment: Employee volunteering: VWOs supported: Beneficiaries:
$ 844,769 124 days 12 More than 35,500

disadvantaged youth and families
OUR
COMMUNITY
We are focused on building long-term Employee Volunteering

relationships based on trust with We encourage our employees to participate
the community by making a positive in community and environmental initiatives
contribution. through volunteering. We provide up to two
working days of paid leave a year to our
Our management approach is to contribute employees for volunteering. Several StarHub
toward building a strong and resilient employees volunteer for a number of social
community. We also actively involve our and environmental causes each year. Our
employees and customers in community employees volunteered 124 man-days in 2016.
programmes.
StarHub Community Investment 2016
We reviewed our community investment Together with employees, customers and
programme in 2016 and identified two areas business partners, we supported several
of priority: improving employability and life community initiatives throughout the year.
skills, and supporting connectivity needs Our key community investment programmes
for disadvantaged youth and families. In in 2016 are described below.
addition, we contributed to a number of other
community causes. In total, our investment 624 children benefitted from the Nurture 2.0
in community development programmes programme, a volunteer programme that
amounted to $844,769. We partnered with tutors underprivileged children in Central
12 VWOs in various initiatives, enhancing Singapore District in English and Mathematics
employability and critical life skills. with financial support from StarHub. Nurture
2.0, a weekly volunteer-driven programme
Community Chest Awards for children aged seven to 12 run by the
StarHub’s fundraising efforts were recognised Central Singapore CDC, received $200,000
at the annual ComChest Awards in from the StarHub Sparks Fund, our corporate
September 2016 with a Corporate Gold (for philanthropic vehicle. Working closely with
Sustainability
our donation of $213,850 for StarHub Open the Central Singapore CDC, we have refined
2015) and a Special Events Silver (for StarHub and introduced several non-academic
Rewards Redemption Programme 2015). modules such as creativity through IT, crafts
We also received a token of appreciation and robotics to complement the academic
from President’s Challenge for our in-kind curriculum. StarHub employees continued
sponsorship of airtime worth $400,000. to volunteer at the Nurture 2.0 initiative in
Community Investment Employee Volunteering

$m days
2014 1.4 2014 214
2015 1.1 2015 144
2016 0.8 2016 124
Amount disbursed from StarHub Sparks Fund

continued
OUR COMMUNITY
2016. A group of 35 staff volunteers acted as Beneficiaries of StarHub’s Community

mentors and took 202 Nurture beneficiaries Outreach Programmes in 2016
for a day-long interactive learning experience
We continued to KidZania, an indoor theme park in Sentosa,
$200,000 funding of Nurture 2.0.
our support for the where the children learnt about various $209,700 to three special needs schools:
Children’s Cancer vocations and basic financial literacy. Metta School, MINDS Towner Garden School
Foundation’s and Lighthouse School through the StarHub
annual Hair for People with special needs and/or disabilities Open.
Hope event have been identified as one of the most $122,000 for Hair for Hope in total
vulnerable groups in Singapore. To support
for the fifth this group, StarHub donated $209,700 from
donations to Children’s Cancer Foundation.
consecutive year. the StarHub Sparks Fund through the annual $50,000 to Entrepreneurs with Disability to
StarHub Open, a golf event for corporate support disadvantaged/deaf entrepreneurs in
clients, joined by StarHub management with starting their own enterprises.
guest appearances by TVB artistes. $150,000 for SPD’s ICOS, final tranche of a
2-year commitment from 2015.
Funds went towards Metta School, MINDS
Towner Garden School and Lighthouse $10,000 to Football with a Heart Fundraiser.
School, to equip special needs students
$47,860 for MINDS Towner Garden School,
with the knowledge and skills necessary
Care Corner Counselling Centre, and WWF
for independent functioning. This
through Rewards Redemption.
includes training of functional academic,
independence, vocational and life skills to $16,420 donated to Daughters of
maximise their potential towards independent Tomorrow, helping single or disadvantaged
living and integration into the community. mothers get employability skills, in
conjunction with the National Day campaign.
Our two-year sponsorship of $300,000
of SPD’s Infocomm Accessibility Centre
Certificate in Office Skills (ICOS) from 2015 Media Spots for Social Campaigns
to 2017, an office skills training programme Our in-kind donations in the form of
that enables people with disabilities to find TV commercial spots for social and
open, gainful employment in administrative environmental campaigns amounted to
positions has reaped positive outcomes. In $1.44 million in 2016. The campaigns included
2016, over 70 persons were trained. Out of WWF’s Earth Hour 2016, Children Cancer
these, 19 found open employment. Foundation’s Hair for Hope 2016, Make a Wish
Foundation’s Santa Run for Wishes 2016 and
We continued our support for the Children’s President’s Challenge.
Cancer Foundation’s annual Hair for Hope
event for the fifth consecutive year. To raise
awareness of childhood cancer, StarHub
pledged $1,000 for every person who shaved
his/her head at the satellite event held at our
main office in StarHub Green. A record 122
shavees including employees, partners and
customers went bald in support of children
with cancer, raising a total of $122,000 from
the StarHub Sparks Fund.
StarHubbers bringing
children from the Nurture
programme to KidZania,
to learn about various
vocations.
StarHub CEO presenting

a cheque to ComChest
for funds raised through
the StarHub Open.
Sustainability
continued
ECONOMIC PERFORMANCE
1 Create sustainable 2 Make a positive 3 Support local 4 Invest in

How We economic value for indirect impact on suppliers. infrastructure.
Create Value shareholders as well local economy and
as stakeholders. communities.
Performance
Highlights
Net Profit: Direct Jobs: Local Suppliers: Local Suppliers’ Share in
341m 2,965 2,090

Total Supplier Payments:
$
86%
ECONOMIC
PERFORMANCE
We are focused on creating long- StarHub continues to create and Research and Development
term value for shareholders and support high quality direct jobs We regularly invest in research and
stakeholders by pursuing sustainable benefitting the local economy and the development projects and forge
business growth strategies. communities. Our significant purchase cross-industry collaborations
from local suppliers supports indirect that promise new technological
Our management approach is to jobs and helps in the development of breakthroughs, reinvigorate our
create value for our shareholders and local businesses. infrastructure, enhance productivity for
stakeholders by ensuring sustainable customers and empower the community.
growth of our business. We are Our other contributions to the local These projects include enhancing mobile
focused on adopting strategies that economy include tax payments, network evolution technologies and
maximise shareholder returns while payment of wages, and community speed, strengthening complementary
creating environmental, social and investments. capabilities for data business services,
economic value for our stakeholders. the development of opportunities in the
We regularly review our management StarHub provided 2,965 direct jobs Internet of Things and cyber security.
approach in view of the business goals, across the Group as of end-December StarHub launched the Cyber Security
stakeholder expectations and the actual 2016. Our operating expenditure, COE in 2016 and together with the COE
performance to evaluate effectiveness. including employee costs, exceeded partners, will jointly invest S$200 million
$2 billion in 2016. We paid $281 million over the next five years to support a
Our shareholders have enjoyed consistent in wages, adding further value to the sustainable cyber security ecosystem.
and healthy dividends over the years. local economy. More information on the COE is available
in the section under Our Marketplace.
Indirect Economic Impacts Supporting Local Suppliers
Our management approach is to We indirectly contribute to the local Financial Assistance
support projects, initiatives, services and economic development through from the Government
infrastructure which allows us to pursue our purchases. In 2016, our vendor We received $368,915 in subsidy
sustainable business growth and at the payments exceeded $1.9 billion. In 2016, for employee training in 2016 under
same time make a positive difference to the share of local suppliers was 86% various schemes run by the IMDA,
Sustainability
the society where we operate. of the total purchases. Local suppliers SkillsFuture Singapore, and Employment
constitute 85% of our vendor base. and Employability Institute (e2i).
StarHub plays a critical role in
augmenting Singapore’s national Our significant purchase from local Financial Performance
infocomm infrastructure by regularly suppliers supports local jobs and A summarised version of our economic
investing in the upgrade of our mobile, businesses and creates tax opportunities performance is presented below in line
wireless communications and cable for the government. Read more about with the GRI Standards. The figures
TV infrastructure. As we upgrade our our Supply Chain Sustainability in the have been extracted from the Audited
networks, we strive to adopt energy- chapter on Our Marketplace chapter. Annual Report approved by the Board
efficient technologies to reduce of Directors for the respective financial
the impact on the environment and Infrastructure Development years. To learn more about StarHub’s
contribute to climate change We regularly invest in upgrading the financial performance, please refer to
mitigation efforts. mobile, broadband and cable TV the Group Financial Review and Financial
infrastructure. A major portion of our Statements sections of this report.
Our modern infocomm infrastructure and $367 million CAPEX was used for
technologies enable people to connect infrastructural investments and 4G
and businesses to run their operations spectrum licences in 2016.
using our fast and reliable networks.
Summary of StarHub’s Economic Performance ($m)

Economic Performance Indicators FY 2016 FY 2015 FY 2014
Operating revenue 2,397 2,444 2,387

Net profit 341 372 371
Operating costs (including staff costs) 2,004 2,049 1,957
Staff costs 281 271 275
Dividends paid to shareholders 346 346 345
continued
GRI Content Index

‘In accordance’ – Core
Page Number(s)
GRI Standard Disclosure
and/or URL(s)
GRI 101: Foundation 2016
(GRI 101 does not include any standards)
GENERAL DISCLOSURES
GRI 102: Organisational Profile
General Disclosures
2016 102-1 Name of the organisation StarHub Ltd
102-2 Activities, brands, products, and services 3
102-3 Location of headquarters Singapore
102-4 Location of operations Mainly Singapore
102-5 Ownership and legal form 204-205
102-6 Markets served 3, 5
102-7 Scale of the organisation 3-5
102-8 Information on employees and other workers 108-112
102-9 Supply chain 107
102-10 Significant changes to the organisation and its supply chain None
102-11 Precautionary Principle or approach 96, 99
102-12 External initiatives 91
102-13 Membership of associations 95
Strategy
102-14 Statement from senior decision maker 15-17
102-15 Key impacts, risks, and opportunities 90-91
Ethics and Integrity
102-16 Values, principles, standards, and norms of behaviour 69-70, 89
Governance
102-18 Governance structure 54-78
Stakeholder Engagement
102-40 List of stakeholder groups 92-93
102-41 Collective bargaining agreements 112
102-42 Identifying and selecting stakeholders 92
102-43 Approach to stakeholder engagement 92-93
102-44 Key topics and concerns raised 92-93
Reporting Practice
102-45 Entities included in the consolidated financial statements 177
102-46 Defining report content and topic Boundaries 87, 97
102-47 List of material topics 96
102-48 Restatements of information 87
102-49 Changes in reporting 87
102-50 Reporting period 87
102-51 Date of most recent report 87
102-52 Reporting cycle 87
102-53 Contact point for questions regarding the report 88
102-54 Claims of reporting in accordance with the GRI Standards 87
102-55 GRI content index 120-123
102-56 External assurance 88
Page Number(s)
and/or URL(s)
MATERIAL TOPICS
Economic Performance
GRI 103: 103-1 Explanation of the material topic and its Boundaries 91, 97
Management
Approach 2016 103-2 The management approach and its components 118-119
103-3 Evaluation of the management approach 119
GRI 201: 201-1 Direct economic value generated and distributed 119
Economic
Performance 2016 201-4 Financial assistance received from government 119
Indirect Economic Impacts

Management
Approach 2016 103-2 The management approach and its components 119
GRI 203: 203-2 Significant indirect economic impacts 119
Indirect Economic
Impacts 2016
Procurement Practices
Management
Approach 2016 103-2 The management approach and its components 91, 107, 119
103-3 Evaluation of the management approach 107, 119
GRI 204: 204-1 Proportion of spending on local suppliers 107, 119
Procurement Practices
2016
Sustainability
Anti-corruption
GRI 103: 103-1 Explanation of the material topic and its Boundaries 107
Management
GRI 205: 205-2 Communication and training about anti-corruption policies and procedures 107
Anti-Corruption 2016
205-3 Confirmed incidents of corruption and actions taken 107
Energy
GRI 103: 103-1 Explanation of the material topic and its Boundaries 90, 96-97
Management
103-3 Evaluation of the management approach 98-100
GRI 302: 302-1 Energy consumption within the organisation 100, 102-103
Energy 2016
302-2 Energy consumption outside of the organisation 100
302-3 Energy intensity 103
Emissions
Management
103-3 Evaluation of the management approach 98-100
GRI 305: 305-1 Direct (Scope 1) GHG emissions 100
Emissions 2016
305-2 Energy indirect (Scope 2) GHG emissions 100
305-3 Other indirect (Scope 3) GHG emissions 100
305-4 GHG emissions intensity 102
305-6 Emissions of ozone-depleting substances (ODS) 100
Effluents and Waste
Management
continued
Page Number(s)
and/or URL(s)
GRI 306: 306-2 Waste by type and disposal method 102-103
Effluents and Waste
2016
Environmental Compliance
GRI 103: 103-1 Explanation of the material topic and its Boundaries 99
Management
GRI 307: GRI 307-1 Non-compliance with environmental laws and regulations 102
Environmental
Compliance 2016
Employment
Management
GRI 401: 401-1 New employee hires and employee turnover 110-111
Employment 2016
401-2 Benefits provided to full-time employees that are not provided to temporary or 112
part-time employees
Occupational Health & Safety
GRI 103: 103-1 Explanation of the material topic and its Boundaries 96-97
Management
GRI 403: 403-1 Workers representation in formal joint management–worker health and safety committees 113
Occupational Health
and Safety 2016 403-2 Types of injury and rates of injury, occupational diseases, lost days, and absenteeism, and 113
number of work-related fatalities
Training and Education
Management
GRI 404: 404-1 Average hours of training per year per employee 111
Training and
Educations 2016 404-2 Programs for upgrading employee skills and transition assistance programs 111
404-3 Percentage of employees receiving regular performance and career development reviews 112
Diversity and Equal Opportunity
GRI 103: 103-1 Explanation of the material topic and its Boundaries 96-97, 109
Management
GRI 405: 405-1 Diversity of governance bodies and employees 110
Diversity and Equal
Opportunity 2016 405-2 Ratio of basic salary and remuneration of women to men 109
Non-discrimination
GRI 103: 103-1 Explanation of the material topic and its Boundaries 96-97, 112
Management
GRI 406: 406-1 Incidents of discrimination and corrective actions taken 107, 112
Non-discrimination
2016
Freedom of Association and Collective Bargaining
Management
Approach 2016 103-2 The management approach and its components 95, 112
GRI 407: 407-1 Operations and suppliers in which the right to freedom of association and collective bargaining 107, 112
Freedom of may be at risk
Association and
Collective Bargaining
Page Number(s)
and/or URL(s)
Child Labour
Management
GRI 408: 408-1 Operations and suppliers at significant risk for incidents of child labour 107, 112
Child Labour 2016
Forced or Compulsory Labour
Management
GRI 409: 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labour 112
Forced or Compulsory
Labour 2016
Local Communities
Management
GRI 413: 413-1 Operations with local community engagement, impact assessments, and development 115-117
Local Communities programs
2016
Customer Privacy
Management
Approach 2016 103-2 The management approach and its components 105, 107
103-3 Evaluation of the management approach 105, 107
GRI 418: 418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data 105, 107
Sustainability
Customer Privacy
GRI TELECOMMUNICATION SECTOR SPECIFIC INDICATORS
Health and Safety
IO3 Practices to ensure Health and safety of field personnel involved in the installation, operation and maintenance of 113
masts, base stations, laying cables and other outside plant
IO7 Policies and practices on the siting of masts and transmission sites including stakeholder consultation, site sharing 113
and initiatives to reduce visual impacts
IO8 Number and percentage of stand-alone sites, shared sites and sites on existing structures 113
Providing Access
PA1 Policies and practices to enable the deployment of telecommunications infrastructure and access to 105
telecommunications products and services in remote and low population density areas
PA2 Policies and practices to overcome barriers for access and use of telecommunication products and services 105
including: language, culture, illiteracy, and lack of education, income, disabilities, and age. Include an
explanation of business models applied
PA3 Policies and practices to ensure availability and reliability of telecommunications products and services and 105
quantify, where possible, time periods and locations of down time
PA4 Quantify the level of availability of telecommunications products and services in areas where the organisation 105
operates
PA6 Programmes to provide and maintain telecommunication products and services in emergency situations and for 105
disaster relief
PA7 Policies and practices to manage human rights issues relating to access and use of telecommunications 105
products and services
PA10 Initiatives to ensure clarity of charges and tariffs 106
GRI MEDIA SECTOR SPECIFIC INDICATORS
Product Responsibility
M2 Methodology for assessing and monitoring adherence to content creation values 106
M3 Actions taken to improve adherence to content creation values, and results obtained 106
M4 Actions taken to improve performance in relation to content dissemination issues (accessibility and protection of 106
vulnerable audiences and informed decision making) and results obtained
Group Financial Review
1.1 Revenue
Year ended 31 December
2016 2016 2015 2015 Incr/(Decr)
$m % $m % $m %
Mobile revenue 1,214.6 50.7 1,239.8 50.7 (25.2) (2.0)

Pay TV revenue 377.8 15.8 391.0 16.0 (13.2) (3.4)
Broadband revenue 216.8 9.0 200.3 8.2 16.5 8.2
Enterprise Fixed revenue 400.0 16.7 384.9 15.8 15.1 3.9
Total service revenue 2,209.2 92.2 2,216.0 90.7 (6.8) (0.3)
Sales of equipment 187.5 7.8 228.3 9.3 (40.8) (17.9)
Total 2,396.7 100.0 2,444.3 100.0 (47.6) (1.9)
The Group’s total revenue of $2,396.7 million was $47.6 million Broadband service revenue was higher by 8.2% when
or 1.9% lower year-on-year (YoY), attributed to lower revenues compared to 2015. The higher revenue was driven by an
from sales of equipment and services. increase in the mix of customers taking fibre plans, resulting
in higher average revenue per user (ARPU) of $37 in 2016,
Compared to 2015, mobile service revenue was lower by up from $34 in 2015.
2.0% due to lower usage revenue from voice services, IDD and
roaming services from both post-paid and pre-paid services, YoY, enterprise fixed service revenue was higher by 3.9%,
partly mitigated by higher subscription revenue from a larger primarily due to growth in data & internet services.
customer base.
Revenue from sales of equipment decreased 17.9% YoY
Pay TV service revenue was lower by 3.4% YoY, primarily due to primarily due to lower volume of handsets sold.
a decrease in the customer base.
1.2 Operating Expenses

2016 2015 Incr/(Decr)
$m $m $m %
Cost of sales 974.6 1,053.1 (78.5) (7.5)

Other operating expenses 1,029.2 995.5 33.7 3.4
Total 2,003.8 2,048.6 (44.8) (2.2)
Total operating expenses were 2.2% lower YoY at $2,003.8 million, attributed to lower cost of sales (primarily cost of equipment
and traffic expenses), offset by higher other operating expenses.
As a percentage of revenue, total operating expenses were at 83.6% when compared to 83.8% in 2015.
A breakdown of total operating expenses is as follows:
(i) Cost of Sales

2016 2015 Incr/(Decr)
$m $m $m %
Cost of equipment sold 447.8 487.1 (39.3) (8.1)

Cost of services 409.5 415.8 (6.3) (1.5)
Traffic expenses 117.3 150.2 (32.9) (21.9)
Total 974.6 1,053.1 (78.5) (7.5)
Cost of equipment decreased 8.1% YoY with fewer handsets sold. take-up of fibre broadband plans. This was partly mitigated by
lower TV programming and production costs.
Cost of services in 2016 included some reversals of accruals
not required. Excluding these reversals, cost of services were Traffic expenses were lower by 21.9% YoY due to lower
1.1% higher YoY, mainly due to higher enterprise fixed costs, domestic and international traffic volume.
coupled with increase in installation costs driven by higher
(ii) Other Operating Expenses

2016 2015 Incr/(Decr)
$m $m $m %
Staff costs 281.4 270.7 10.7 4.0

Operating leases 116.1 121.7 (5.6) (4.6)
Marketing and promotions 133.7 144.6 (10.9) (7.5)
Allowance for doubtful receivables 21.0 18.4 2.6 14.5
Repair and maintenance 96.9 86.0 10.9 12.6
Other expenses 115.1 82.7 32.4 39.0
Subtotal 764.2 724.1 40.1 5.5
Depreciation and amortisation (net of asset grants) 265.0 271.4 (6.4) (2.4)
Total 1,029.2 995.5 33.7 3.4
The Group’s other operating expenses were higher by 3.4% when compared to 2015. As a percentage of revenue, other operating
expenses were at 42.9%, up from 40.7% in 2015.
Analysis of major variances in other operating expenses is provided below:

Staff costs Repair and maintenance
The higher staff costs were due to annual increments and Compared to 2015, the higher repair and maintenance
provision for restructuring costs, mitigated by reversal of staff expenses in 2016 were mainly due to the provision for
costs accruals not required. submarine cable repair costs for cable cuts in the first half
of 2016 and higher maintenance costs driven by expanded
Operating leases network and systems infrastructure.
The higher operating leases in 2015 were mainly due to the
catch up of property tax on our network offices. Excluding Other expenses
this catch up in 2015 and reversal of accruals not required in YoY, the higher other expenses were due to higher licence fees
Sustainability
2016, operating leases were 1.2% higher YoY mainly due to ($11.7m), foreign exchange losses ($7.3m), professional and
commencement of new office’s rental. outsourcing fees ($5.0m) and lower gain on disposal of fixed
assets ($3.2m).
Marketing and promotions
Compared to 2015, the lower marketing and promotions Depreciation and amortisation
expenses in 2016 were primarily due to the lower acquisition The lower depreciation and amortisation expenses were
and re-contract costs driven by lower sales volume and mainly due to property, plant and equipment and intangible
reclassification of certain expenses to cost of sales. assets fully depreciated and amortised respectively, offset by
new additions of CAPEX.
Allowance for doubtful receivables
The higher allowance for doubtful receivables was due to an
increase in provision rate with effect from 4Q2016 after the
review of the outstanding accounts receivables profile.

continued
1.3 Profitability
2016 2015 Incr/(Decr)
$m $m $m %
Total revenue 2,396.7 2,444.3 (47.6) (1.9)

Operating expenses (2,003.8) (2,048.6) (44.8) (2.2)
Other income 32.2 45.6 (13.4) (29.2)
Profit from operations 425.1 441.3 (16.2) (3.6)
Finance income 3.5 2.0 1.5 73.3
Finance expenses (26.2) (17.8) 8.4 46.7
402.4 425.5 (23.1) (5.4)
Non-operating income 9.5 15.0 (5.5) (37.1)
Share of loss of associate (net of tax) (1.6) (0.3) 1.3 nm
Profit before taxation 410.3 440.2 (29.9) (6.8)
Taxation (68.9) (67.9) 1.0 1.5
Profit for the year 341.4 372.3 (30.9) (8.3)
EBITDA 690.1 712.7 (22.6) (3.2)

Service revenue 2,209.2 2,216.0 (6.8) (0.3)
EBITDA as a % of service revenue 31.2% 32.2% -1% pts
nm – not meaningful
Profit from operations was 3.6% lower YoY at $425.1 million in mm2 Asia Ltd. In 2015, the non-operating income of
due mainly to lower service revenue and income grant as all $15.0 million was due to the deconsolidation of one of its
rollout grant has been fully amortised and recognised in the subsidiaries, SHINE Systems Assets Pte. Ltd.
income statement.
Compared to 2015, the share of loss from associate was higher
2016 EBITDA was lower by 3.2% when compared to 2015. at $1.6 million in 2016.
As a percentage of service revenue, EBITDA margin was
31.2% in 2016 compared to 32.2% in 2015. 2016 profit before taxation decreased $29.9 million YoY,
largely due to lower profits from operations ($16.2 million)
The higher finance income YoY was due to higher cash and and non-operating income ($5.5 million), coupled with higher
cash equivalent balances, while higher finance expenses were net interest expenses ($6.9 million) and share of loss from
attributed to increase in interest expenses following the issue associate ($1.3 million).
of the $300.0 million medium term notes in 2Q2016, coupled
with higher interest rate. Taxation in 2015 included catch up for prior periods’ tax losses
benefits. Excluding this adjustment, taxation for 2016 was
For 2016, the non-operating income of $9.5 million was due lower by 10.3% due to lower profits before taxation.
to the fair value gain on initial recognition from an investment
1.4 Liquidity and Resources

2016 2015
$m $m
Profit before taxation 410.3 440.2

Non-cash items & net finance expenses adjustments 257.8 233.7
Changes in operating assets and liabilities (63.7) (36.7)
Income tax paid (53.7) (92.7)
Net cash from operating activities 550.7 544.5
Net cash used in investing activities (389.3) (300.3)
Net cash used in financing activities (49.6) (335.3)
Net change in cash and cash equivalents 111.8 (91.1)
Exchange difference on cash and cash equivalents – 0.3
Cash and cash equivalents at beginning of the year 173.4 264.2
Cash and cash equivalents at end of the year 285.2 173.4
Free Cash Flow (1) 184.0 215.7

(1) Free Cash Flow refers to net cash from operating activities less purchase of property, plant and equipment and intangible assets in the cash flow statement.
YoY, the Group’s net cash from operating activities was The Group’s CAPEX payments in 2016 totalled $366.7 million.
$6.2 million higher due to lower tax paid offset by higher Excluding the $80 million spectrum paid in 3Q2016, the
requirements from working capital and lower cash flows CAPEX payments in 2016 were 12.0% of total revenue.
from operations.
Free cash flow was $31.7 million lower at $184.0 million
The negative changes in working capital of $63.7 million was as a result of higher CAPEX payments.
Sustainability
attributed to lower net balances due to related parties, higher
trade receivables, other receivables, deposits and prepayments. Net cash used in financing activities were lower at
This was mitigated by higher trade and other payables. $49.6 million in 2016 as compared to $335.3 million in 2015.
The lower cash outlay was due to the proceeds received
Net cash used in investing activities increased by $89.0 million from the issue of $300.0 million medium term notes offset
YoY, due to higher CAPEX payments and loans disbursed to by purchase of treasury shares in 2016.
associate of $8.7 million in 2016 as compared to a repayment
of loan from associate of $36.9 million in 2015. In addition, The resulting net cash generated was a surplus of
2016 cash outflow also included the investment in mm2 Asia $111.8 million. As a result, cash and cash equivalents balance
Ltd of $18.0 million compared to $12.0 million additional was higher at $285.2 million, up from $173.4 million in 2015.
capital injected in associate in 2015.

continued
1.5 Financial Position

As at 31 December
2016 2015
$m $m
Non-current assets 1,455.3 1,305.6

Current assets 741.0 603.8
Less: Current liabilities 855.5 1,027.9
Less: Non-current liabilities 1,145.9 693.9
Net assets 194.9 187.6
Shareholders' equity 194.9 187.6
Compared to 2015, the Group’s non-current assets The Group’s shareholders’ equity increased by $7.3 million
of $1,455.3 million as of 31 December 2016 were higher to $194.9 million as of 31 December 2016. The increase
by $149.7 million. The increase was mainly due to higher net was primarily due to higher share capital of $6.2 million
book values for fixed assets which included the addition of 4G and favourable changes in fair value of available-for-sale
spectrum rights in 3Q2016, and higher non-current balance investments of $12.5 million, offset by the purchase
due from related parties resulting from the loan disbursement of treasury shares of $12.3 million.
to associate. In addition, the investment in mm2 Asia Ltd with
a fair value of $40.0 million recorded as of 31 December 2016 Gearing
also contributed to the higher non-current assets. The Group’s unsecured borrowings of $987.5 million as
of 31 December 2016 were $300.0 million higher when
Total current assets of $741.0 million as of 31 December 2016 compared to a year ago. The increase was due to the
were $137.2 million higher YoY, primarily due to higher cash $300.0 million 3.55% fixed rate 10-year medium term notes
and cash equivalents which was up by $111.8 million when issued in June 2016, with maturity due in 2026.
compared to 31 December 2015.
Against 31 December 2015, net debt was $188.2 million higher
Total current liabilities as of 31 December 2016 were at $702.3 million as of 31 December 2016, attributed to higher
$172.4 million lower at $855.5 million when compared to a borrowings mitigated by an increase in ending cash balances.
year ago. The decrease was due to the reclassification of bank As a ratio of the full year EBITDA, the Group’s net debt was
borrowings from current liabilities to non-current liabilities as a higher at 1.02 times as of 31 December 2016, up from
result of extension of bank borrowings. Balance due to related 0.72 times as of 31 December 2015.
parties was also lower by $55.4 million upon the finalisation of
outstanding claims and timing in settlement of payables.
Against 31 December 2015, total non-current liabilities were

$452.0 million higher at $1,145.9 million. The increase was
largely due to the $300.0 million medium term notes issued
in 2Q2016 and reclassification of bank borrowings from
current liabilities.
Financial
Statements 2016
Financials
Financials
Directors’ Statement 130 Statement of Consolidated Cash Flow
Independent Auditors’ Report 140 Comprehensive Income 149 Statement 154
Statements of Statements of Changes Notes to the
Financial Position 147 in Equity 150 Financial Statements 155
Income Statement 148
Directors’ Statement
Year ended 31 December 2016
We are pleased to submit this statement to the members of the Company together with the audited financial statements for the
financial year ended 31 December 2016.
In our opinion:
(a) the financial statements set out on pages 147 to 202 are drawn up so as to give a true and fair view of the financial position
of the Group and of the Company as at 31 December 2016 and the financial performance and the cash flows of the
Group, and changes in equity of the Group and of the Company for the year ended on that date in accordance with the
provisions of the Singapore Companies Act, Chapter 50 and Singapore Financial Reporting Standards; and
(b) at the date of this statement, there are reasonable grounds to believe that the Company will be able to pay its debts as and
when they fall due.
Directors
The directors in office at the date of this statement are as follows:
Steven Terrell Clontz (Chairman)

Tan Tong Hai (Chief Executive Officer)
Ma Kah Woh
Nihal Vijaya Devadas Kaviratne CBE
Rachel Eng Yaag Ngee
Teo Ek Tor
Stephen Geoffrey Miller (Appointed on 1 January 2017)
Lim Ming Seong
Liu Chee Ming
Nasser Marafih
Takeshi Kazami
Directors’ Interests
According to the register kept by the Company for the purposes of Section 164 of the Singapore Companies Act, Chapter 50,
particulars of interests of directors who held office at the end of the financial year (including those held by their spouses and
infant children) in shares, debentures, warrants, share options and share awards in the Company and in related corporations
(other than wholly-owned subsidiaries) are as follows:
Holdings Holdings
at beginning at end
Names of director and corporation in which interests are held of the year of the year
The Company
Ordinary Shares
Steven Terrell Clontz 62,900 80,700

Directors’ Interests (continued)
Holdings Holdings
at beginning at end
The Company
Ordinary Shares
Tan Tong Hai 1,049,830 1,343,530

Ma Kah Woh 78,580 81,780
Nihal Vijaya Devadas Kaviratne CBE 21,000 19,000
Rachel Eng Yaag Ngee – 6,900
Teo Ek Tor 153,838 168,738
Lim Ming Seong 222,036 237,136
Liu Chee Ming 180,184+ 191,584+
Nasser Marafih 59,930 66,330
Peter Seah Lim Huat* 578,092 592,092
Sio Tat Hiang* 25,600 39,300
Related Corporations
Olam International Limited

Euro Medium Term Note Programme
Nihal Vijaya Devadas Kaviratne CBE US$200,000(1) US$200,000(1)
Singapore Technologies Engineering Ltd

Ordinary Shares
Financials
Singapore Telecommunications Limited

Ordinary Shares
Ma Kah Woh 380 380

TeleChoice International Limited

Ordinary Shares

Sio Tat Hiang* 253,000 325,000
+ Held (partly or wholly) by a nominee.

* Peter Seah Lim Huat and Sio Tat Hiang resigned as directors on 1 January 2017.
(1)
US$200,000 of the US$300,000,000 in principal amount of 4.5% fixed rate notes due 2020 under Olam International Limited’s Euro Medium Term Note Programme.
Holdings Holdings
at beginning at end
The Company
Conditional awards of shares under StarHub Performance Share Plan
Tan Tong Hai 210,000(2) –

278,600(3) 278,600(3)
Conditional awards of shares under StarHub Performance Share Plan 2014
Tan Tong Hai 261,200(4) 261,200(4)

– 261,200(5)
Conditional awards of shares under StarHub Restricted Stock Plan
Tan Tong Hai 87,200(6) –

195,400(7) 64,464(7)
Conditional awards of shares under StarHub Restricted Stock Plan 2014
Tan Tong Hai 156,200(8) 156,200(8)

– 156,200(9)
(2)
A conditional award was granted in May 2013. The performance period was from 2013 to 2015. The final award was granted in March 2016 based on the actual
level of achievement of the pre-determined targets. The shares under the final award were delivered in April 2016.
(3)
A conditional award was granted in March 2014. The performance period was from 2014 to 2016. No shares will be delivered if the threshold performance
targets are not achieved while up to 1.825 times the number of shares that are the subject of the award will be delivered if the stretched performance targets are
met or exceeded.
(4)
A conditional award was granted in March 2015. The performance period is from 2015 to 2017. No shares will be delivered if the threshold performance targets
are not achieved while up to 1.825 times the number of shares that are the subject of the award will be delivered if the stretched performance targets are met
or exceeded.
(5)
are not achieved while up to 1.825 times the number of shares that are the subject of the award will be delivered if the stretched performance targets are met
or exceeded.
(6)
A conditional award was granted in May 2013. The performance period was from 2013 to 2014. The final award was granted in March 2015 based on the actual
level of achievement of the pre-determined performance targets. The shares under the final award were partially delivered in 2015, and the balance was delivered
in 2016.
(7)
A conditional award was granted in March 2014. The performance period was from 2014 to 2015. The final award was granted in March 2016 based on the
actual level of achievement of the pre-determined performance targets. The shares under the final award were partially delivered in 2016, and the balance will be
delivered in 2017.
(8)
A conditional award was granted in March 2015. The performance period was from 2015 to 2016. No shares will be delivered if the threshold performance targets
are not achieved while up to 1.5 times the number of shares that are the subject of the award will be delivered if the stretched performance targets are met or
exceeded. Shares will be delivered in phases according to the stipulated vesting periods.
(9)
are not achieved while up to 1.5 times the number of shares that are the subject of the award will be delivered if the stretched performance targets are met or
exceeded. Shares will be delivered in phases according to the stipulated vesting periods.
Except as disclosed in this statement, no director who held office at the end of the financial year had interests in shares,
debentures, warrants, share options or share awards of the Company, or of its related corporations, either at the beginning of the
financial year or at the end of the financial year.
There were no changes in the above-mentioned directors’ interests in the Company between the end of the financial year and
21 January 2017.
Except as disclosed under the “Share-based Payments” section of this statement, neither at the end of nor at any time during
the financial year, was the Company a party to any arrangement whose objects are, or one of whose objects is, to enable the
directors of the Company to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other
body corporate.
Share-based Payments
The Company has in place the StarHub Performance Share Plan 2014 and the StarHub Restricted Stock Plan 2014 (collectively,
“StarHub Share Plans 2014”, and each, “StarHub PSP 2014” and “StarHub RSP 2014” respectively).
The StarHub Share Plans 2014 were approved and adopted at the Extraordinary General Meeting (“EGM”) of the Company held
on 14 April 2014, in replacement of the then existing StarHub Performance Share Plan and the StarHub Restricted Stock Plan
which were adopted by the Company on 16 August 2004 (collectively, “StarHub Share Plans 2004”, and each, “StarHub PSP 2004”
and “StarHub RSP 2004” respectively).
The StarHub Share Plans 2004 together with the StarHub Share Option Plan 2004 were terminated at the EGM of the Company
held on 14 April 2014. The Company had also in 2000 adopted the StarHub Pte Ltd Share Option Plan (“StarHub Share Option
Plan 2000”) and terminated the same in 2004. Since 31 May 2015, there were no outstanding or unexercised options under the
StarHub Share Option Plans.
The StarHub Share Plans 2014, the StarHub Share Plans 2004, the StarHub Share Option Plan 2004 and the StarHub Share Option
Plan 2000 (collectively, “Plans”) are administered by the Company’s Executive Resource and Compensation Committee (“ERCC”)
comprising three directors, namely Teo Ek Tor, Stephen Geoffrey Miller and Lim Ming Seong.
The Company designates Singapore Technologies Telemedia Pte Ltd as its parent company (“Parent Company”) for purposes of
Financials
the Plans.
StarHub Share Plans 2014 and StarHub Share Plans 2004 (collectively, the “StarHub Share Plans”)
(i) The StarHub Share Plans were implemented with the objectives of motivating key executives to strive for superior
performance and sustaining long-term growth for the Group.
(ii) The termination of the StarHub Share Plans 2004 was without prejudice to the rights of holders of awards accepted and
outstanding under the StarHub Share Plans 2004 as at the date of termination. The outstanding awards under the StarHub
Share Plans 2004 were vested according to the terms of the StarHub Share Plans 2004 and the respective grants.
Share-based Payments (continued)
(iii) The following persons were/shall be eligible to participate in the StarHub Share Plans, respectively at the absolute
discretion of the ERCC:
(1) employees (including executive directors) and non-executive directors of the Group;
(2) employees (including executive directors) and non-executive directors of the Parent Group who meet the relevant
age and rank criteria and whose services have been seconded to a company within the Group and who shall be
regarded as an employee of the Group for the purposes of the StarHub Share Plans; and
(3) employees and non-executive directors of the Company’s associated companies, who in the opinion of the ERCC,
have contributed or will contribute to the success of the Group.
(iv) Under the StarHub PSP 2004 and the StarHub PSP 2014, awards of shares are granted on an annual basis, conditional
on targets set for a performance period, currently prescribed to be a three-year period. Awards represent the right of
a participant to receive fully paid shares, their equivalent cash value or combinations thereof, free of charge, upon the
participant achieving prescribed performance targets set based on medium-term corporate objectives.
Awards are released once the ERCC is satisfied that the prescribed performance targets have been achieved. The
actual number of shares given will depend on the level of achievement of the prescribed performance targets over the
performance period.
Since the commencement of the StarHub PSP 2004 to the financial year ended 31 December 2016, conditional awards
aggregating 9,050,250 shares have been granted under the aforesaid plan. For share awards granted prior to and during
the financial year ended 31 December 2013, no shares will be delivered if the threshold performance targets are not
achieved, while up to twice the number of shares that are the subject of the award will be delivered if the stretched
performance targets are met or exceeded. For share awards granted during and after the financial year ended 31
December 2014, no shares will be delivered if the threshold performance targets are not achieved, while up to 1.825 times
the number of shares that are the subject of the award will be delivered if the stretched performance targets are met or
exceeded. The performance targets benchmark (a) the performance of the Company’s Total Shareholders’ Return (“TSR”)
measured against the MSCI Asia-Pacific Telecommunications Index (including Japan) over the performance period, and
(b) the Wealth Added which measures investment performance in terms of the Company’s TSR against shareholders’
expected returns using cost of equity as a benchmark.
Since the commencement of the StarHub PSP 2014 to the financial year ended 31 December 2016, conditional awards
aggregating 1,191,000 shares have been granted under the aforesaid plan. For share awards granted during and after
the financial year ended 31 December 2015, no shares will be delivered if the threshold performance targets are not
achieved, while up to 1.825 times the number of shares that are the subject of the award will be delivered if the stretched
performance targets are met or exceeded. The performance targets benchmark (a) the performance of the Company’s
Total Shareholders’ Return (“TSR”) measured against the MSCI Asia-Pacific Telecommunications Index (including Japan)
over the performance period, and (b) the Wealth Added which measures investment performance in terms of the
Company’s TSR against shareholders’ expected returns using cost of equity as a benchmark.
Details of share awards granted under the StarHub PSP 2004 and StarHub PSP 2014 (collectively, the “StarHub PSP Share
Plans”) are as follows:
Aggregate share
awards granted since Aggregate
commencement of the share awards
Share awards granted StarHub PSP Share Plans Share awards vested outstanding as at
Participants during the financial year to 31 December 2016 during the financial year 31 December 2016
StarHub PSP 2004

Executive director:
Tan Tong Hai – 960,400 42,000 278,600
Key executives – 7,178,650 37,800 291,500
Total – 8,139,050 79,800 570,100
StarHub PSP 2014

Executive director:
Tan Tong Hai 261,200 522,400 – 522,400
Key executives 395,100 668,600 – 668,600
Total 656,300 1,191,000 – 1,191,000
(v) Under the StarHub RSP 2004 and the StarHub RSP 2014, awards granted vest only after the satisfactory completion of
time-based service conditions (time-based restricted awards) or where the award is performance-related, after a further
period of service beyond the performance period (performance-based restricted awards).
No minimum vesting periods are prescribed under the StarHub RSP 2004 and the StarHub RSP 2014 and the length of the
vesting period in respect of each award will be determined on a case-by-case basis. Performance-based restricted awards
Financials
differ from awards granted under the StarHub PSP 2004 and the StarHub PSP 2014 in that an extended vesting period is
imposed beyond the performance period.
The performance-based restricted awards represent the right of a participant to receive fully paid shares, their equivalent
cash value or combinations thereof, free of charge, upon the participant achieving prescribed performance targets.
The actual number of shares to be released depends on the level of attainment of the performance targets over the
performance period.
For performance-based restricted awards granted prior to and during the financial year ended 31 December 2007, (a) the
first performance target benchmarks the performance of the Company’s TSR measured against the Straits Times Index
(“STI”) over the performance period; and (b) the second performance target used is measured against Free Cash Flow
(“FCF”).
For performance-based restricted awards granted during and from financial year ended 31 December 2008 to financial
year ended 31 December 2013, the performance targets used are measured against the Return on Invested Capital
(“ROIC”) and the FCF respectively.
For performance-based restricted awards granted during and from financial year ended 31 December 2014 onwards, the
performance targets used are measured against the Return on Invested Capital (“ROIC”) and the Earnings Before Interest,
Taxation, Depreciation and Amortisation (“EBITDA”).
Since the commencement of the StarHub RSP 2004 to the financial year ended 31 December 2016:
(1) performance-based restricted awards aggregating 17,413,000 shares have been granted under the aforesaid
Plan. No shares will be delivered if the threshold performance targets are not achieved, while up to 1.3 times or
as the case may be 1.5 times, the number of shares that are the subject of the award, will be delivered if stretched
performance targets are met or exceeded;
(2) a time-based restricted award of 100,000 shares has been granted on 15 January 2009. The shares under this
award were vested in three equal tranches over a 3-year period from 1 January 2009 to 31 December 2011
according to a specified vesting schedule;
(3) a time-based restricted award of 213,000 shares has been granted on 17 May 2010. The shares under this award
were vested in May 2011 upon the participants’ continued tenure as non-executive directors of the Company for a
full one-year period from the date of grant;
(4) a restricted award of 155,900 shares has been granted on 7 June 2012. The shares under this award formed 30%
of the non-executive directors’ remuneration for the financial year ended 31 December 2011 and were vested
immediately without any further vesting period;
(5) a restricted award of 99,400 shares has been granted on 10 May 2013. The shares under this award formed 30%
of the non-executive directors’ remuneration for the financial year ended 31 December 2012 and were vested
immediately without any further vesting period; and
(6) a time-based restricted award of 30,000 shares has been granted on 10 March 2014. The shares under this award
were vested in two equal tranches over a 2-year period from 1 January 2015 to 31 December 2016 according to a
specified vesting schedule.
Since the commencement of the StarHub RSP 2014 to the financial year ended 31 December 2016:
(1) performance-based restricted awards aggregating 4,758,100 shares have been granted under the aforesaid Plan.
No shares will be delivered if the threshold performance targets are not achieved, while up to 1.5 times, the number
of shares that are the subject of the award, will be delivered if stretched performance targets are met or exceeded;
(2) restricted awards aggregating 365,300 shares have been vested to non-executive directors of the Company as part
of their directors’ remuneration, and were vested immediately upon grant;
(3) a time-based restricted award of 32,500 shares has been granted on 8 July 2015. The shares under this award will
vest in two equal tranches over a 2-year period from 8 July 2015 to 7 July 2017 according to a specified vesting
schedule; and
(4) a time-based restricted award of 240,000 shares has been granted on 20 May 2016. The shares under this
award will vest in two equal tranches over a period from 20 May 2016 to 7 July 2017 according to a specified
vesting schedule.
Details of share awards granted under the StarHub RSP 2004 and the StarHub RSP 2014 (collectively, the “StarHub RSP
Plans”) are as follows:
Aggregate share
awards granted since Aggregate
commencement of the share awards
Share awards granted StarHub RSP Share Plans Share awards vested outstanding as at
Participants during the financial year to 31 December 2016 during the financial year 31 December 2016
StarHub RSP 2004
Non-executive directors:
Steven Terrell Clontz – 40,100 – –
Nihal Vijaya Devadas Kaviratne CBE – 103,700 – –
Teo Ek Tor – 91,100 – –
Lim Ming Seong – 106,900 – –
Liu Chee Ming – 76,100 – –
Nasser Marafih – 50,400 – –
Peter Seah Lim Huat* – 98,700 – –
Sio Tat Hiang* – 4,400 – –
Executive director:
Tan Tong Hai – 739,400 151,700 64,464
Key employees – 15,143,700 1,296,995 628,880
StarHub RSP 2014
Non-executive directors:
Steven Terrell Clontz 17,800 40,600 17,800 –
Financials
Ma Kah Woh 3,200 3,200 3,200 –
Nihal Vijaya Devadas Kaviratne CBE 16,900 42,000 16,900 –
Rachel Eng Yaag Ngee 6,900 6,900 6,900 –
Teo Ek Tor 14,900 38,100 14,900 –
Lim Ming Seong 15,100 38,900 15,100 –
Liu Chee Ming 11,400 29,900 11,400 –
Nasser Marafih 6,400 23,300 6,400 –
Peter Seah Lim Huat* 14,000 35,900 14,000 –
Sio Tat Hiang* 13,700 34,900 13,700 –
Executive director:
Tan Tong Hai 156,200 312,400 – 312,400
Key employees 2,571,100 4,718,200 136,300 4,337,400
* Peter Seah Lim Huat and Sio Tat Hiang resigned as directors on 1 January 2017.
During the financial year, a total of 1,856,315 ordinary shares fully paid in the Company were issued pursuant to the StarHub
Share Plans.
As at 31 December 2016, no participant has been granted and/or received shares pursuant to the release of awards granted under
the StarHub Share Plans, which, in aggregate, represents 5% or more of the aggregate of:
(a) the total number of new shares available under the StarHub Share Option Plans and the StarHub Share Plans collectively; and
(b) the total number of existing shares delivered pursuant to options exercised under the StarHub Share Option Plans and
awards released under the StarHub Share Plans collectively.
Audit Committee
The members of the Audit Committee as at the date of this statement are as follows:
Ma Kah Woh, independent non-executive director (Chairman)

Nihal Vijaya Devadas Kaviratne CBE, independent non-executive director
Rachel Eng Yaag Ngee, independent non-executive director
Lim Ming Seong, non-executive director
The Audit Committee has held four meetings since the last directors’ statement. In performing its functions in accordance with
Section 201B of the Singapore Companies Act, Chapter 50, the Audit Committee met with the Company’s external and internal
auditors to discuss the scope of their work, the results of their examination and evaluation of the Company’s internal accounting
control system.
The Audit Committee has also reviewed the following:
(1) assistance provided by the Company’s officers to the internal and external auditors;
(2) financial statements of the Group and the Company prior to their submission to the directors of the Company for
adoption; and
(3) interested person transactions (as defined in Chapter 9 of the Listing Manual of the Singapore Exchange Securities
Trading Limited) of the Company and its subsidiaries and the Company’s compliance with the review procedures of
such transactions.
The Audit Committee has full access to management and is given the resources required for it to discharge its functions. It
has full authority and the discretion to invite any director or executive officer to attend its meetings. The Audit Committee also
recommends the appointment of the external auditors and reviews the level of audit and non-audit fees.
The Audit Committee has undertaken a review of all non-audit services provided by the external auditors, and is satisfied that
the independence, objectivity and effectiveness of the external auditors are not compromised as a result thereof, and has
recommended to the Board of Directors that KPMG LLP be nominated for re-appointment as auditors at the forthcoming
Annual General Meeting of the Company.
Auditors
The auditors, KPMG LLP, have expressed their willingness to accept re-appointment.
The Board of Directors has, on the date of this statement, authorised these financial statements for issue.
On behalf of the Board of Directors
Steven Terrell Clontz Tan Tong Hai

Director Director
Singapore
3 February 2017
Financials
Independent Auditors’ Report

Members of the Company
StarHub Ltd
Report on the audit of the financial statements
Opinion
We have audited the financial statements of StarHub Ltd (the “Company”) and its subsidiaries (the “Group”), which comprise
the consolidated statement of financial position of the Group and the statement of financial position of the Company as at 31
December 2016, the consolidated income statement, consolidated statement of comprehensive income, consolidated statement
of changes in equity and consolidated cash flow statement of the Group, and the statement of changes in equity of the Company
for the year then ended, and notes to the financial statements, including a summary of significant accounting policies as set out
on pages 147 to 202.
In our opinion, the accompanying consolidated financial statements of the Group and the statement of financial position of the
Company are properly drawn up in accordance with the provisions of the Singapore Companies Act, Chapter 50 (the “Act”) and
Financial Reporting Standards in Singapore (“FRSs”) so as to give a true and fair view of the consolidated financial position of
the Group and the financial position of the Company as at 31 December 2016 and of the consolidated financial performance,
consolidated changes in equity and consolidated cash flows of the Group and changes in equity of the Company for the year
ended on that date.
Basis for opinion
We conducted our audit in accordance with Singapore Standards on Auditing (“SSAs”). Our responsibilities under those standards
are further described in the ‘Auditors’ responsibilities for the audit of the financial statements’ section of our report. We are
independent of the Group in accordance with the Accounting and Corporate Regulatory Authority (“ACRA”) Code of Professional
Conduct and Ethics for Public Accountants and Accounting Entities (“ACRA Code”) together with the ethical requirements that are
relevant to our audit of the financial statements in Singapore, and we have fulfilled our other ethical responsibilities in accordance
with these requirements and the ACRA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
Key audit matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial
statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole,
and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
Revenue recognition ($2,396.7 million)

(Refer to note 3.11 ‘Significant accounting policies’ and note 20 ‘Revenue’)
The key audit matter How the matter was addressed in our audit
The Group’s five largest revenue streams are derived from Our audit was performed with a high reliance on the
the provision of Mobile, Pay TV, Broadband, Enterprise Fixed Group’s IT systems and key manual internal controls.
services and sales of equipment.
Our audit procedures included:
The Group provides its services from its integrated fixed,
mobile, cable and broadband operations through its fixed • Testing the design and implementation, and operating
and wireless networks. effectiveness of the IT environment over systems
in which billings, ratings and other relevant support
Information used to recognise revenue is based on data activities reside.
captured in the network switches which are interfaced with
management IT reporting system. Complexities in the • Evaluating the relevant IT systems and the design and
telecommunication systems and the related configurations operating effectiveness of controls over the capture
of the system generated information give rise to the risk that and recording of revenue transactions from network
revenue may not be accurately recognised. switches to the billing system, and subsequently to the
accounting system. In doing so, we involved our IT
In addition, products and services offered with promotional specialists to assist in the test of automated controls,
rates and discounts, adds to the complexities in the including interface controls between different IT
calculation of revenue to be recognised. applications.
• Testing the design and implementation, and

effectiveness of controls over initiation, authorisation,
recording, and processing of revenue transactions.
• Testing key reconciliations used by management to

assess the completeness and accuracy of revenue
including testing the period in which it is recorded.
• Assessing the suitability of revenue recognition policy for

the products and services offered by the Group.
Financials
• Performing analytical procedures on revenue by
corroborating with non-financial data and test of details.
Findings
Based on our procedures, we noted no significant issues on the completeness, existence and accuracy of revenue recorded
in the year, except for the recognition of revenue from sales and usage of pre-paid phone cards.
Management identified errors in the data in the pre-paid mobile rating and accounting systems that are used for the
recognition of revenue from the sales and usage of pre-paid phone cards. Management is in the process of reconciling the
differences between pre-paid and accounting systems. The effects of the errors and the unreconciled differences is not
significant to the income statement for the year.
We noted that the revenue recognition policies relating to recognition for some of the pre-paid card programmes were not
in accordance with the requirements of financial reporting standards. The effect of these deviations is not material to the
income statement for the year.

StarHub Ltd
Accruals ($472.1 million)

(Refer to note 3.6(i) ‘Significant accounting policies’ and note 14 ‘Trade and other payables’)
The Group incurs significant costs in its operations. Our procedures included:
Accounting for certain costs at year end is considered a
significant audit risk due to the judgement and • Reading contracts of certain significant accruals and
complexities involved. considering the accounting treatment and timing of
recognition.
Judgement is required in determining the level of accrual
needed for costs that span the year end where settlement • Understanding and assessing management’s
has not been fully and finally made. process and basis of accruals for each significant
accruals category.
Judgement is also required where there are invoices under
negotiation because agreement on amounts payable to • Testing the accruals utilised during the year to actual
suppliers may take a significant amount of time due to the invoices received and checking that the utilisation of
complexities in the telecommunication industry. accruals have been correctly accounted for.
Management performed a detailed review of each of its • Testing key reconciliations used by management to
significant accrual accounts relying on historical trend of assess the completeness and accuracy of liabilities and
observable claims and actual costs to assess the sufficiency accruals.
of these accruals.
• Assessing management’s basis of reversal of significant
accruals resulting from changes in management’s
assessment of the likelihood of economic outflows.
• Performing search for unrecorded liabilities to assess the

completeness of liabilities.
Findings
We have identified certain over accruals made in the financial statements. The effects of these over-accruals were not found
to be significant to the income statement for the year.
Based on our assessment of historical utilisation patterns, we found that the estimates used by management to determine the
accruals were conservative. Management is continually refining its processes to improve the accuracy of the estimates used
to determine these accruals.
Impairment assessment of goodwill ($220.3 million)

(Refer to note 3.7 (ii) ‘Significant accounting policies’ and note 5 ‘Intangible assets’)
Goodwill is subject to an annual impairment test or more Our audit procedures included:
frequently if there are indications of impairment. The
determination of the recoverable amount of the cash • Evaluating management’s basis of determination and
generating unit (“CGU”) requires judgement on the part of identification of the CGU within the Group.
management in both identifying and valuing the CGU.
• Challenging management’s estimates applied in the
The Group recorded goodwill of $220.3 million arising from value-in-use model based on our knowledge of the
the acquisition of StarHub Cable Vision Ltd (“SCV”) in 2002. CGU’s operations, by:
Management considers SCV to be an essential part of the
- Comparing historical forecasts against historical
Group’s fully integrated info-communications business.
performance to assess management’s forecast
Hence, for impairment testing purposes, management has
ability; and
allocated the goodwill to the CGU comprising the Group’s
integrated fixed, mobile, cable and broadband operations. - Comparing current forecasts against historical
performance to assess the reasonableness of
Management applies the value-in-use (discounted cash
the forecasts.
flow) method to determine the recoverable amount of
the CGU. Any shortfall of the recoverable amount against • Obtaining an understanding of management’s
the carrying amount would be recognised as an revenue growth forecasts and capital expenditure on
impairment loss. network assets, and independently deriving applicable
discount rates and comparing these to those used by
Key assumptions and estimates used in the value-in-use
management.
calculations include revenue growth rates, expected
changes in profit margins, and the applicable discount rate. • Stress testing management’s value-in-use calculations
These estimates require judgement and the determination through applying and analysing the impact to the
of the recoverable amount is a key focus area for our audit. headroom when possible but unlikely key assumptions
or discount rates were applied.
• Assessing the sufficiency of related disclosures in Note 5
Financials
to the financial statements including those in respect of
the sensitivities of the recoverable amount to variations
in assumptions.
Findings
In view of the Group’s “Hubbing” strategy whereby the majority of its customers are on a suite of services using an integrated
network, we agree with management on the allocation of the goodwill to the CGU.
Based on our procedures, we consider management’s assumptions to be within the range of likely market trends and our
stress tests showed sufficient headroom for the carrying value of the CGU. We therefore agree with management that there
is no impairment in the goodwill allocated to the CGU. We found the Group’s disclosure in the financial statements to be
compliant with financial reporting standards.

StarHub Ltd
Valuation of trade receivables ($172.2 million)

(Refer to note 3.7 (i) ‘Significant accounting policies’ and note 11 ‘Trade receivables’)
The Group has a policy to provide allowances for trade Our audit procedures included:
receivables on specific individual balances and on its
receivables portfolio collectively. • Performing tests of controls over the Group’s collection
procedures, and the Group’s assessment of the provision
Determining the amount of allowance requires required at every period end.
management’s judgement on overdue debts and
the amount of collection default based on past • Assessing the suitability of its policy for the allowance of
collection trends. doubtful debts.
There is a risk that the allowance of doubtful debts • Evaluating the ageing profile of trade receivables and
recognised may be insufficient. critically assessing the Group’s provision levels by
considering the historical cash collection trends.
• Discussing with management on the recoverability of

past due debts to assess the sufficiency of allowance
for trade receivables through specific and collective
provisioning.
• Reviewing the adequacy of the Group’s disclosures in

relation to the degree of estimation involved in arriving at
the provision.
Findings
We found that the level of allowance of doubtful debts as at 31 December 2016 to be adequate. We have considered the
adequacy of the Group’s disclosures about the degree of estimation involved in deriving the allowance is sufficient.
Other Information
Management is responsible for the other information. The other information comprises the Annual Report, but does not include
the financial statements and our auditors’ report thereon. Other than the Directors’ Statement, which we obtained prior to the
date of this auditor’s report, the other sections included in the Annual Report are expected to be made available to us after the
date of this auditors’ report.
Our opinion on the financial statements does not cover the other information and we will not express any form of assurance
conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information identified above
when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the financial
statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.
When we read the Annual Report, if we conclude that there is a material misstatement therein, we are required to communicate
the matter to those charged with governance and take appropriate actions in accordance with SSAs. We have nothing to report in
this regard with respect to the Directors’ Statement.
Responsibilities of management and directors for the financial statements
Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the
provisions of the Act and FRSs, and for devising and maintaining a system of internal accounting controls sufficient to provide a
reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly
authorised and that they are recorded as necessary to permit the preparation of true and fair financial statements and to maintain
accountability of assets.
In preparing the financial statements, management is responsible for assessing the Group’s ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management
either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
The directors’ responsibilities include overseeing the Group’s financial reporting process.
Auditors’ responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is
a high level of assurance, but is not a guarantee that an audit conducted in accordance with SSAs will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
As part of an audit in accordance with SSAs, we exercise professional judgement and maintain professional scepticism
throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and
perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a
basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting
from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal
controls.
Financials
• Obtain an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit
evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on
the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw
attention in our auditors’ report to the related disclosures in the financial statements or, if such disclosures are inadequate,
to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report.
However, future events or conditions may cause the Group to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the
financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the
Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and
performance of the group audit. We remain solely responsible for our audit opinion.

StarHub Ltd
We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and significant
audit findings, including any significant deficiencies in internal controls that we identify during our audit.
We also provide the directors with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.
From the matters communicated with the directors, we determine those matters that were of most significance in the audit of
the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors’
report unless the law or regulations preclude public disclosure about the matter or when, in extremely rare circumstances,
we determine that a matter should not be communicated in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such communication.
Report on other legal and regulatory requirements
In our opinion, the accounting and other records required by the Act to be kept by the Company and by those subsidiary
corporations incorporated in Singapore of which we are the auditors have been properly kept in accordance with the provisions
of the Act.
The engagement partner on the audit resulting in this independent auditors’ report is Ong Chai Yan.
KPMG LLP
Public Accountants and
Chartered Accountants
Singapore
3 February 2017
Statements of Financial Position

As at 31 December 2016
Group Company
2016 2015 2016 2015
Note $m $m $m $m
Non-current assets
Property, plant and equipment 4 918.0 890.0 431.0 411.4
Intangible assets 5 463.8 388.1 78.3 70.6
Subsidiaries 6 – – 2,472.8 1,758.1
Associate 7 25.9 27.5 27.8 27.8
Available-for-sale financial assets 8 40.0 – 40.0 –
Amounts due from related parties 9 7.6 – 7.6 344.2
1,455.3 1,305.6 3,057.5 2,612.1
Current assets
Inventories 10 49.6 54.3 0.7 50.1
Trade receivables 11 172.2 153.3 141.7 137.5
Other receivables, deposits and prepayments 12 212.2 196.8 43.6 34.1
Amounts due from related parties 9 21.8 26.0 19.4 110.8
Cash and cash equivalents 13 285.2 173.4 236.0 154.2
741.0 603.8 441.4 486.7
Current liabilities
Trade and other payables 14 (707.9) (687.3) (309.4) (297.7)
Amounts due to related parties 9 (67.1) (122.5) (356.5) (404.4)
Borrowings 15 (10.0) (137.5) (10.0) (137.5)
Provision for taxation (70.5) (80.6) (15.4) (49.1)
(855.5) (1,027.9) (691.3) (888.7)
Net current liabilities (114.5) (424.1) (249.9) (402.0)
Non-current liabilities
Trade and other payables 14 (21.6) (22.7) (21.6) (22.7)
Borrowings 15 (977.5) (550.0) (977.5) (550.0)
Financials
Deferred income 16 (1.4) (1.1) (1.4) (1.1)
Deferred tax liabilities 17 (145.4) (120.1) (73.5) (61.3)
(1,145.9) (693.9) (1,074.0) (635.1)
Net assets 194.9 187.6 1,733.6 1,575.0
Equity attributable to equity holders of the Company

Share capital 18 299.7 293.5 299.7 293.5
Reserves 19 (104.8) (105.9) 1,433.9 1,281.5
Total equity 194.9 187.6 1,733.6 1,575.0
The accompanying notes form an integral part of these financial statements.

Income Statement
Group
2016 2015
Note $m $m
Revenue 20 2,396.7 2,444.3

Operating expenses 21 (2,003.8) (2,048.6)
Other income 22 32.2 45.6
Profit from operations 425.1 441.3
Finance income 23 3.5 2.0

Finance expense 23 (26.2) (17.8)
Net finance costs (22.7) (15.8)
Non-operating income 24 9.5 15.0

Share of loss of associate, net of tax 7 (1.6) (0.3)

Taxation 25 (68.9) (67.9)
Profit for the year attributable to equity holders of the Company 341.4 372.3
Earnings per share (in cents)

- Basic 26 19.8 21.5
- Diluted 26 19.7 21.4
EBITDA 27 690.1 712.7

Statement of Comprehensive Income

Group
2016 2015
$m $m
Profit for the year 341.4 372.3
Other comprehensive income

Items that are or may be reclassified subsequently to profit or loss:
Change in fair value of available-for-sale financial assets, net of taxation 12.5 –

Foreign currency translation differences – 0.5
Effective portion of changes in fair value of cash flow hedges, net of taxation 3.9 1.9
Other comprehensive income for the year, net of taxation 16.4 2.4
Total comprehensive income for the year attributable to equity
holders of the Company 357.8 374.7
Financials

Statements of Changes in Equity

Goodwill Share-based
Share written payments Hedging Translation Retained Total Total
capital off reserve reserve reserve profits reserves equity
Group $m $m $m $m $m $m $m $m
At January 2015 282.6 (276.3) 13.4 (1.4) 0.8 129.9 (133.6) 149.0
Total comprehensive income for the year

Profit for the year – – – – – 372.3 372.3 372.3

Foreign currency translation differences – – – – 0.5 – 0.5 0.5
Effective portion of changes in fair value
of cash flow hedges, net of taxation – – – 1.9 – – 1.9 1.9
Total comprehensive income for the year – – – 1.9 0.5 372.3 374.7 374.7
Transactions with equity holders

of the Company, recognised directly
in equity
Contributions by and distributions to equity
holders of the Company
Issue of shares pursuant to share plans 10.9 – (10.6) – – – (10.6) 0.3
Share-based payment expenses – – 9.5 – – – 9.5 9.5
Dividends paid (Note 29) – – – – – (345.9) (345.9) (345.9)
Total transactions with equity holders
of the Company 10.9 – (1.1) – – (345.9) (347.0) (336.1)
At 31 December 2015 293.5 (276.3) 12.3 0.5 1.3 156.3 (105.9) 187.6

Goodwill Share-based
Share Treasury written payments Fair value Hedging Translation Retained Total Total
capital shares off reserve reserve reserve reserve profits reserves equity
Group $m $m $m $m $m $m $m $m $m $m
At 1 January 2016 293.5 – (276.3) 12.3 – 0.5 1.3 156.3 (105.9) 187.6
Total comprehensive income

for the year
Profit for the year – – – – – – – 341.4 341.4 341.4

Net change in fair value
of available-for-sale
financial assets – – – – 12.5 – – – 12.5 12.5
Effective portion of changes
in fair value of cash flow
hedges, net of taxation – – – – – 3.9 – – 3.9 3.9
for the year – – – – 12.5 3.9 – 341.4 357.8 357.8
Transactions with equity

holders of the Company,
recognised directly
in equity
Contributions by and
distributions to equity
holders of the Company
Treasury shares purchased
by the Company – (12.3) – – – – – – (12.3) (12.3)
Issue of shares pursuant
to share plans 6.2 – – (6.2) – – – – (6.2) –
Share-based
Financials
payment expenses – – – 7.2 – – – – 7.2 7.2
Tax impact on transfer of
treasury shares – – – 0.8 – – – – 0.8 0.8
Dividends paid (Note 29) – – – – – – – (346.2) (346.2) (346.2)
Total transactions with equity
holders of the Company 6.2 (12.3) – 1.8 – – – (346.2) (356.7) (350.5)
At 31 December 2016 299.7 (12.3) (276.3) 14.1 12.5 4.4 1.3 151.5 (104.8) 194.9

Statements of Changes in Equity

Merger/ Share-based
Share capital payments Hedging Retained Total Total
capital reserve reserve reserve profits reserves equity
Company $m $m $m $m $m $m $m
At 1 January 2015 282.6 276.5 13.4 (1.4) 823.2 1,111.7 1,394.3

Profit for the year – – – – 514.9 514.9 514.9

of cash flow hedges, net of taxation – – – 1.9 – 1.9 1.9
Total comprehensive income for the year – – – 1.9 514.9 516.8 516.8
Transactions with equity holders of the Company,

recognised directly in equity
Contributions by and distributions to equity holders
of the Company
Issue of shares pursuant to share plans 10.9 – (10.6) – – (10.6) 0.3
Share-based payment expenses – – 9.5 – – 9.5 9.5
Dividends paid (Note 29) – – – – (345.9) (345.9) (345.9)
Total transactions with equity holders of the Company 10.9 – (1.1) – (345.9) (347.0) (336.1)
At 31 December 2015 293.5 276.5 12.3 0.5 992.2 1,281.5 1,575.0

Merger/ Share-based
Share Treasury capital payments Fair value Hedging Retained Total Total
capital shares reserve reserve reserve reserve profits reserves equity
Company $m $m $m $m $m $m $m $m $m
At 1 January 2016 293.5 – 276.5 12.3 – 0.5 992.2 1,281.5 1,575.0

Profit for the year – – – – – – 497.1 497.1 497.1

Net change in fair value of
available-for-sale financial assets – – – – 12.5 – – 12.5 12.5
of cash flow hedges, net of taxation – – – – – (0.5) – (0.5) (0.5)
for the year – – – – 12.5 (0.5) 497.1 509.1 509.1
Transactions with equity holders of the

Company, recognised directly
in equity
Contributions by and distributions
to equity holders of the Company
Treasury shares purchased by the Company – (12.3) – – – – – (12.3) (12.3)
Issue of shares pursuant to share plans 6.2 – – (6.2) – – – (6.2) –
Share-based payment expenses – – – 7.2 – – – 7.2 7.2
Tax impact on transfer of treasury shares – – – 0.8 – – – 0.8 0.8
Dividends paid (Note 29) – – – – – – (346.2) (346.2) (346.2)
Total transactions with equity holders
of the Company 6.2 (12.3) – 1.8 – – (346.2) (356.7) (350.5)
At 31 December 2016 299.7 (12.3) 276.5 14.1 12.5 – 1,143.1 1,433.9 1,733.6
Financials

Consolidated Cash Flow Statement

2016 2015
$m $m
Operating activities
Adjustments for:
Depreciation and amortisation, net of asset grants 265.0 271.4
Income related grants (32.0) (45.4)
Share-based payments 7.2 9.5
Changes in fair value of financial instruments 1.2 (1.0)
Net finance costs 22.7 15.8
Non-operating income (9.5) (15.0)
Share of loss of associate, net of tax 1.6 0.3
Others 1.6 (1.9)
668.1 673.9
Changes in:
Inventories 4.7 (11.9)
Trade receivables (18.9) 7.6
Other receivables, deposits and prepayments (19.3) (2.9)
Trade and other payables 19.9 (55.8)
Amounts due from related parties 5.3 (8.9)
Amounts due to related parties (55.4) 35.2
Cash generated from operations 604.4 637.2
Income tax paid (53.7) (92.7)
Net cash from operating activities 550.7 544.5
Investing activities
Interest received 3.3 2.0
Proceeds from disposal of property, plant and equipment and intangible assets 0.8 1.6
Purchase of property, plant and equipment and intangible assets (366.7) (328.8)
Purchase of available-for-sale financial assets (18.0) –
(Loan to)/Repayment of loan from an associate (8.7) 36.9
Investment in an associate – (12.0)
Net cash used in investing activities (389.3) (300.3)
Financing activities
Proceeds from exercise of share options – 0.3
Treasury shares purchased by the Company (12.3) –
Grants received 34.0 30.0
Proceeds from issue of medium term notes 300.0 –
Dividends paid (346.2) (345.9)
Interest paid (25.1) (19.7)
Net cash used in financing activities (49.6) (335.3)
Net change in cash and cash equivalents 111.8 (91.1)

Exchange difference on cash and cash equivalents – 0.3
Cash and cash equivalents at beginning of year 173.4 264.2
Cash and cash equivalents at end of year (Note 13) 285.2 173.4

Notes to the Financial Statements

These notes form an integral part of the financial statements.
The financial statements were authorised for issue in accordance with a resolution of the Board of Directors of StarHub Ltd on
3 February 2017.
1 Domicile and Activities

StarHub Ltd (“StarHub” or the “Company”) is incorporated in the Republic of Singapore and has its registered office at
67 Ubi Avenue 1, #05-01 StarHub Green, Singapore 408942.
The principal activities of the Company are those relating to the operation and provision of telecommunications services
and other businesses relating to the info-communications industry. The principal activities of the subsidiaries are set out in
Note 6 to the financial statements.
The consolidated financial statements relate to the Company and its subsidiaries (together the “Group” and individually as
“Group entities”), and the Group’s interest in its equity-accounted investee.
2 Basis of Preparation
2.1 Statement of compliance
The financial statements are prepared in accordance with the Singapore Financial Reporting Standards (“FRS”).
2.2 Basis of measurement

The financial statements are prepared on a historical cost basis except for certain financial assets and liabilities which are
measured at fair value as disclosed in the accounting policies below.
2.3 Functional and presentation currency

The financial statements are presented in Singapore dollars, which is the Company’s functional currency. All financial
information presented in Singapore dollars has been rounded to the nearest million, unless otherwise stated.
2.4 Significant accounting estimates and judgements

The preparation of financial statements in conformity with FRSs requires management to make judgements in the
Financials
application of accounting policies. It also requires the use of accounting estimates and assumptions that affect the
reported amounts of assets, liabilities and the disclosure of contingent assets and liabilities at the date of the
financial statements, and the reported income and expenses during the financial year. These estimates are based on
management’s best knowledge and judgement of current events and environment. Actual results may ultimately differ
from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimates are revised and in any future periods affected.

2 Basis of Preparation (continued)

2.4 Significant accounting estimates and judgements (continued)
In the application of the Group’s accounting policies, which are described in Note 3, management is of the opinion that
there is no instance of application of judgement which is expected to have a significant effect on the amounts recognised
in the financial statements, apart from those involving estimations described below.
The key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date, that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next
financial year are:
• Measurement of recoverable amounts relating to goodwill impairment
The carrying value of the Group’s goodwill is assessed for impairment annually or more frequently if there are
indications that the goodwill might be impaired. The impairment assessment requires an estimation of the value-in-
use of the cash generating unit (“CGU”) to which the goodwill is allocated.
Assessing the value-in-use requires the Group to make an estimate of the expected future cash flows from the
CGU and apply an appropriate discount rate in order to calculate the present value of those cash flows. Actual cash
flows will differ from these estimates as a result of differences between assumptions used and actual operations
(see Note 5).
• Measurement of impairment losses on investments in subsidiaries and recoverable amounts of loan receivables to
subsidiaries
The carrying values of investments in subsidiaries are reviewed for impairment whenever there is any indication that
the investment is impaired. This determination requires significant judgement. As the Group’s fixed, mobile, cable
and broadband operations are integrated and generate interdependent cash flows, the assessment is performed on
the same CGU determined for purposes of assessment of impairment of goodwill (see Note 5).
• Measurement of recoverable amounts of trade receivables
The Group evaluates whether there is any objective evidence that trade receivables are impaired, and determine
the amount of impairment loss as a result of the inability of the debtors to make the required payments. The Group
bases the estimates on the ageing of the trade receivables balance, credit worthiness of the debtors and historical
write-off experience. The Group has a policy to provide allowance for trade receivables on specific individual
balances and on its receivables portfolio collectively. If financial conditions of the debtors were to deteriorate,
actual write-offs would be higher than that estimated.
• Adequacy of accruals
Assessing the adequacy of accruals made at the reporting date requires the Group to make judgements in
determining the level of accruals needed for costs that span the year end where settlement has not been fully
and finally made. Due to the complexities in the telecommunication industry, agreement on amounts payable to
suppliers may take a significant amount of time. The Group determines the sufficiency of these accruals based on
historical trend of observable claims and actual costs. Actual payments may differ from these estimates when the
final settlements are reached between the parties.


2.5 Adoption of new and revised standards
In the current financial year, the Group has adopted all the new and revised FRSs and Interpretations of FRSs (“INT FRSs”)
that are relevant to its operations and effective for annual periods beginning on 1 January 2016. The adoption of these
new/revised FRSs and INT FRSs does not result in substantial changes to the Group’s accounting policies and has no
material effect on the amounts reported for the current or prior years.
2.6 New accounting standards and interpretations not yet adopted

A number of new standards and amendments to standards are effective for annual periods beginning after 1 January 2016
and earlier application is permitted; however, the Group has not early applied the following new or amended standards in
preparing these statements.
For those new standards and amendments to standards that are expected to have an effect on the financial statements of
the Group and the Company in future financial periods, the Group has set up project teams to assess the transition options
and the potential impact on its financial statements, and to implement these standards. The Group does not plan to adopt
these standards early.
Applicable to 2018 financial statements
New standards
Summary of the requirements Potential impact on the financial statements
Convergence with International Financial

Reporting Standards (IFRS)
The Accounting Standards Council (ASC) The Group has performed a preliminary assessment of the
announced on 29 May 2014 that Singapore- impact of SG-IFRS 1 First-time adoption of International
incorporated companies listed on the Singapore Financial Reporting Standards for the transition to the new
Exchange (SGX) will apply a new financial reporting reporting framework. Based on the Group’s preliminary
framework identical to the International Financial assessment, the Group expects that the impact on adoption
Reporting Standards (referred to as SG-IFRS in these of SG-IFRS 15 Revenue from Contracts with Customers and
financial statements) for the financial year ending SG-IFRS 9 Financial Instruments will be similar to adopting
Financials
31 December 2018 onwards. FRS 115 and FRS 109 as described in this Note.
Other than arising from the adoption of new and revised

standards, the Group does not expect to change its existing
accounting policies on adoption of the new framework.
The Group is currently performing a detailed analysis of the

available policy choices, transitional optional exemptions and
transitional mandatory exceptions under SG-IFRS 1 and the
preliminary assessment may be subject to changes arising from
the detailed analyses.


2.6 New accounting standards and interpretations not yet adopted (continued)
Applicable to 2018 financial statements (continued)
New standards
FRS 115 Revenue from Contracts with Customers
FRS 115 establishes a comprehensive framework During 2016, the Group performed an initial assessment of the
for determining whether, how much and when impact on the Group’s financial statements.
revenue is recognised. It also introduces new cost
guidance which requires certain costs of obtaining Based on its initial assessment, the Group expects the following
and fulfilling contracts to be recognised as separate key changes:
assets when specified criteria are met.
FRS 115 will require the Group to identify deliverables in
When effective, FRS 115 replaces existing revenue contracts with customers that qualify as performance
recognition guidance, including FRS 18 Revenue, obligations taking into consideration the estimated value of
FRS 11 Construction Contracts, INT FRS 113 material rights and variable considerations offered.
Customer Loyalty Programmes, INT FRS 115
Agreement for the Construction of Real Estate, Currently, revenue from bundled products and services are
INT FRS 118 Transfers of Assets from Customers and recognised based on values allocated to the individual elements
INT FRS 31 Revenue – Barter Transactions Involving of the bundled products and services in accordance to the
Advertising Services. earning process of each element. Under FRS 115, revenue
will be allocated to these individual elements within bundled
FRS 115 is effective for annual periods beginning products and services based on their relative stand-alone
on or after 1 January 2018, with early adoption selling prices.
permitted. FRS 115 offers a range of transition
options including full retrospective adoption where The Group expects an increase in the revenue allocated to
an entity can choose to apply the standard to its sales of equipment and a corresponding reduction in the
historical transactions and retrospectively adjust revenue allocated to services under FRS 115. In addition, the
each comparative period presented in its 2018 Group expects to defer the recognition of the cost of acquiring
financial statements. When applying the customers over the contract duration.
full retrospective method, an entity may also
elect to use a series of practical expedients to Transition – The Group intends to adopt the standard when it
ease transition. becomes effective in 2018 using the full retrospective approach.
The Group intends to elect all the practical expedients under
FRS 115 and is currently performing the detailed analysis to
quantify the transition adjustments on its financial statements.

Applicable to 2018 financial statements (continued)
New standards
FRS 109 Financial Instruments
FRS 109 replaces most of the existing guidance During 2016, the Group completed its initial assessment of the
in FRS 39 Financial Instruments: Recognition and impact on the Group’s financial statements.
Measurement. It includes revised guidance on
the classification and measurement of financial The Group’s initial assessment of the three elements of FRS 109
instruments, a new expected credit loss model for is as described below.
calculating impairment on financial assets, and new
general hedge accounting requirements. It also Classification and measurement – The Group does not expect
carries forward the guidance on recognition and a significant change to the measurement basis arising from
derecognition of financial instruments from FRS 39. adopting the new classification and measurement model under
FRS 109.
FRS 109 is effective for annual periods beginning
on or after 1 January 2018, with early adoption Loans and receivables that are currently accounted for at
permitted. Retrospective application is generally amortised cost will continue to be accounted for using
required, except for hedge accounting. For hedge amortised cost model under FRS 109.
accounting, the requirements are generally applied
prospectively, with some limited exceptions. For financial assets currently held at fair value, the Group
Restatement of comparative information is not expects to continue measuring most of these assets at fair value
mandatory. If comparative information is not under FRS 109. The expected classification and measurement of
restated, the cumulative effect is recorded in these financial assets under FRS 109 is summarised below:
opening equity as at 1 January 2018.
Available-for-sale equity securities are held as long-term
investments. For these, the Group expects to elect to present
Financials
subsequent changes in fair value in other comprehensive
income. Under FRS 109, only dividend income is recognised
in the income statement. Any subsequent fair value changes
are recognised in other comprehensive income and will not be
reclassified to the income statement even upon divestment.
Impairment – The Group intends to adopt the simplified

approach and is currently assessing the impact of impairment
loss allowance under the new standard.
Hedge accounting – The Group intends to adopt the general

hedge accounting model under the new standards, using
prospective application of hedge accounting requirements in
the standards. The Group is currently assessing the impact of
adopting the new standard.
Transition – The Group intends to adopt the standard when

it becomes effective in 2018 without restating comparative
information. The Group is currently gathering data to quantify
the potential impact arising from the adoption.


Applicable to 2019 financial statements
New standards
FRS 116 Leases
FRS 116 eliminates the lessee’s classification of The Group has performed a preliminary high-level
leases as either operating leases or finance leases assessment of the new standard on its existing operating
and introduces a single lessee accounting model. lease arrangements as a lessee. Based on the preliminary
Applying the new model, a lessee is required to assessment, the Group expects these operating leases to be
recognise right-of-use (ROU) assets and lease recognised as ROU assets with corresponding lease liabilities
liabilities for all leases with a term of more than under the new standard. The Group is currently assessing the
12 months, unless the underlying asset is of quantitative impact on the financial statements.
low value.
The Group plans to adopt the standard when it becomes
FRS 116 substantially carries forward the lessor effective in 2019. The Group will perform a detailed analysis
accounting requirements in FRS 17 Leases. of the standard, including the transition options and practical
Accordingly, a lessor continues to classify its expedients in 2018.
leases as operating leases or finance leases, and to
account for these two types of leases using the The Group expects that the impact on adoption of IFRS 16
FRS 17 operating lease and finance lease Leases to be similar to adopting SG-FRS 116, after the transition
accounting models respectively. However, to SG-IFRS in 2018 as described above.
FRS 116 requires more extensive disclosures
to be provided by a lessor.
When effective, FRS 116 replaces existing lease

accounting guidance, including FRS 17, INT FRS 104
Determining whether an Arrangement contains a
Lease; INT FRS 15 Operating Leases—Incentives; and
INT FRS 27 Evaluating the Substance of Transactions
Involving the Legal Form of a Lease.
FRS 116 is effective for annual periods beginning

on or after 1 January 2019, with early adoption
permitted if FRS 115 is also applied.
3 Significant Accounting Policies

The accounting policies set out below have been applied consistently by the Group to all periods presented in these
3.1 Basis of consolidation

(i) Subsidiaries
Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to,
variable returns from its involvement with the entity and has the ability to affect those returns through its power over the
entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date that
control commences until the date that control ceases.
Investments in subsidiaries are stated in the Company’s statement of financial position at cost less impairment losses.
Subsidiaries are consolidated with the Company in the Group’s financial statements.
Acquisitions of subsidiaries from related corporations controlled by the ultimate holding company, Temasek Holdings
(Private) Limited (“Temasek”), are accounted for as reconstructions of businesses under common control using the
historical cost method similar to the “pooling of interest” method.
Under the historical cost method, the acquired assets and liabilities were recorded at their existing carrying amounts.
The consolidated financial statements included the results of operations, and the assets and liabilities, of the pooled
enterprises as part of the Group for the whole of the current and preceding periods.
To the extent that the par value of the shares issued in consideration for these transactions exceeded the par value of the
shares held by the related corporations, the difference was recognised as a merger reserve in the Group’s
(ii) Loss of control

When control over a subsidiary is lost as a result of a transaction, event or other circumstances, the Group derecognises
all assets and liabilities of the subsidiary, any non-controlling interest and the other components of equity related to
the subsidiary. Any surplus or deficit arising on the loss of control is recognised in the income statement. Any remaining
interest in the previous subsidiary is recognised at its fair value at the date that control is lost. Subsequently, it is accounted
for as an equity-accounted investee or as an available-for-sale financial asset depending on the level of influence retained.
Financials
(iii) Associates
Associates are those entities in which the Group has significant influence, but not control or joint control, over the financial
and operating policies. Significant influence is presumed to exist when the Group holds 20% or more of the voting power
of another entity.
Investment in associates is accounted for using the equity method. They are recognised initially at cost, which includes
transaction costs. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of
the income statement and other comprehensive income of equity-accounted investees, after adjustments to align the
accounting policies with those of the Group, from the date that significant influence commences until the date that
significant influence ceases.
When the Group’s share of losses exceeds its interest in an equity-accounted investee, the carrying amount of the
investment, together with any long-term interests that form part thereof is reduced to zero, and the recognition of further
losses is discontinued except to the extent that the Group has an obligation to fund the investee’s operations or has made
payments on behalf of the investee.

3 Significant Accounting Policies (continued)

3.1 Basis of consolidation (continued)
(iv) Transactions eliminated on consolidation
Intra-group balances and transactions, and any unrealised income and expenses arising from intra-group transactions, are
eliminated in preparing the consolidated financial statements.
Unrealised gains arising from transactions with equity-accounted investees are eliminated against the investment to the
extent of the Group’s interest in the investee. Unrealised losses are eliminated in the same way as unrealised gains, but only
to the extent that there is no evidence of impairment.
3.2 Foreign currencies

(i) Foreign currencies transactions
Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional
currency at the exchange rate at that date. The foreign currency gain or loss on monetary items is the difference between
amortised cost in the functional currency at the beginning of the year, adjusted for effective interest and payments during
the year, and the amortised cost in foreign currency translated at the exchange rate at the end of the year.
Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are translated to the
functional currency at the exchange rate at the date that the fair value was determined. Non-monetary items in a foreign
currency that are measured in terms of historical cost are translated using the exchange rate at the date of the transaction.
Foreign currency differences arising on translation are recognised in the income statement, except for the following
differences which are recognised in other comprehensive income arising on the translation of:
• available-for-sale equity instruments (except on impairment in which case foreign currency differences that have
been recognised in other comprehensive income are reclassified to the income statement); or
• qualifying cash flow hedges to the extent the hedge is effective.
(ii) Foreign operations

The assets and liabilities of foreign operations are translated to Singapore dollars at exchange rates at the reporting date.
The income and expenses of foreign operations are translated to Singapore dollars at average rates during the year.
Foreign currency translation differences are recognised in other comprehensive income, and presented in the foreign
currency translation reserve in equity. However, if the foreign operation is a non-wholly-owned subsidiary, then the
relevant proportionate share of the translation difference is allocated to the non-controlling interests. When a foreign
subsidiary is disposed of such that control is lost, the cumulative amount in the foreign currency translation reserve related
to that foreign subsidiary is transferred to the income statement as an adjustment to profit or loss arising on disposal.
When the Group disposes of only part of its interest in a subsidiary that includes a foreign operation while retaining
control, the relevant proportion of the cumulative amount is reattributed to non-controlling interests.

3.3 Property, plant and equipment
(i) Recognition and measurement
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.
Cost includes expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructed assets
include the cost of materials and direct labour, any other costs directly attributable to bringing the asset to a working
condition for their intended use, and when the Group has an obligation to remove the asset or restore the site, an estimate
of the costs of dismantling and removing the assets and restoring the site on which they are located and capitalised
borrowing costs.
Gains or losses arising from the retirement or disposal of property, plant and equipment are determined as the difference
between the estimated net disposal proceeds and the carrying amount of the asset and are recognised in the income
statement on the date of retirement or disposal.
(ii) Subsequent costs

Subsequent expenditure relating to existing property, plant and equipment is added to the carrying amount of the
asset when it is probable that future economic benefits, in excess of the originally assessed standard of performance
of the existing asset, will flow to the Group and its cost can be measured reliably. The carrying amount of the replaced
component is derecognised. The costs of the day-to-day servicing of property, plant and equipment are recognised in the
income statement as incurred.
(iii) Depreciation
Depreciation is provided on a straight-line basis over the estimated useful lives (or lease term, if shorter) of each part of an
item of property, plant and equipment as follows:
Leasehold buildings - 30 years to 42 years

Leasehold improvements - Shorter of lease term or 5 years
Network equipment - 2 years to 15 years
Office equipment, computers and furniture and fittings - 2 years to 5 years
Motor vehicles - 5 years
Financials
Depreciation methods, useful lives and residual values are reviewed, and adjusted as appropriate, at the end of each
reporting date.
No depreciation is provided on freehold property or in respect of property, plant and equipment under construction.
3.4 Intangible assets

(i) Goodwill
Goodwill that arises upon the acquisition of subsidiaries is included in intangible assets. Goodwill arising on the acquisition
of associates is presented together with investments in associates.
Acquisitions prior to 1 January 2010

Goodwill arising on acquisitions prior to 1 January 2010 represents the excess of the cost of acquisition over the fair value
of the Group’s share of the identifiable assets, liabilities and contingent liabilities of the acquiree.


3.4 Intangible assets (continued)
(i) Goodwill (continued)
Acquisition on or after 1 January 2010

For acquisitions on or after 1 January 2010, the Group measures goodwill at the acquisition date as:
• the fair value of the consideration transferred; plus

• the recognised amount of any non-controlling interests in the acquiree; plus
• if the business combination is achieved in stages, the fair value of the pre-existing equity interest in the acquiree,
over the net recognised amount (generally fair value) of the identifiable assets acquired and liabilities assumed. Any
goodwill that arises is tested annually for impairment.
When the excess is negative, a bargain purchase gain is recognised immediately in the income statement.
Goodwill is measured at cost less accumulated impairment losses. Goodwill is tested for impairment on an annual basis as
described in Note 3.7(ii).
Goodwill arising on acquisitions of subsidiaries that occurred prior to 1 January 2001 was written off against reserves in
the year of acquisition and has not been retrospectively capitalised and amortised.
Goodwill that has previously been taken to the reserves is not taken to the income statement when the business is
disposed of or the goodwill is impaired. Similarly, negative goodwill that has previously been taken to reserves is not taken
to the income statement when the business is disposed.
In respect of associates, the carrying amount of goodwill is included in the carrying amount of the investment, and an
impairment loss on such an investment is not allocated to any asset, including goodwill, that forms part of the carrying
amount of the associates.
(ii) Telecommunications and spectrum licences

Telecommunications and spectrum licences costs incurred are measured at cost less accumulated amortisation and
accumulated impairment losses. These costs are amortised to the income statement using the straight-line method over
the period of the licence, being 10 years to 21 years, commencing from the effective date of the licence.
(iii) Computer software

Computer software comprises software purchased from third parties, and also the cost of internally developed software.
Computer software is stated at cost less accumulated amortisation and accumulated impairment losses. These costs are
amortised to the income statement using the straight-line method over their estimated useful lives of 2 years to 5 years.
Subsequent expenditure on capitalised intangible assets is added to the carrying value only when it increases the future
economic benefits embodied in the specific asset to which it relates. All other expenditure is recognised in the income
statement as incurred.
Computer software integral to a related item of equipment is accounted for as property, plant and equipment.
Amortisation methods, useful lives and residual values are reviewed at each financial year end and adjusted if appropriate.

3.5 Inventories
Inventories comprise goods held for resale and reserved telephone numbers. Inventories are valued at the lower of
cost and net realisable value. The cost of goods held for resale is determined on the weighted average basis. Reserved
telephone numbers are stated at cost and accounted for using the specific identification basis.
Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to
make the sale. Allowance for obsolescence is made for all deteriorated, damaged, obsolete and slow-moving inventories.
3.6 Financial instruments

(i) Non-derivative financial instruments
Non-derivative financial instruments comprise investments in equity securities, trade and other receivables (including
amounts due from related parties), cash and bank balances, trade and other payables (including amounts due to related
parties), and borrowings.
Cash and cash equivalents comprise cash balances, deposits with financial institutions with maturities of three months
or less, and bank overdrafts. For the purpose of presentation in the consolidated cash flow statement, cash and cash
equivalents are presented net of bank overdrafts which are repayable on demand and which form an integral part of the
Group’s cash management.
A financial instrument is recognised when the Group becomes a party to the contractual provisions of the instrument.
Financial assets are derecognised when the Group’s contractual rights to the cash flows from the financial assets expire
or if the Group transfers the financial asset to another party without retaining control or transfers substantially all the risks
and rewards of ownership of the asset. On disposal of a financial asset, the difference between the sale proceeds and
the carrying amount is recognised in the income statement. Any amount in the fair value reserve relating to that asset is
reclassified to the income statement. Regular way purchases and sales of financial assets are accounted for at trade date,
i.e. the date that the Group commits itself to purchase or sell the asset.
Financial liabilities are derecognised if the Group’s obligations specified in the contract expire or are discharged
or cancelled.
Financial assets and liabilities are offset and the net amount presented in the statement of financial position when, and
Financials
only when, the Group has a legal right to offset the amounts and intends either to settle on a net basis or to realise the
asset and settle the liability simultaneously.
Non-derivative financial instruments are recognised initially at fair value plus, for instruments not at fair value through
profit or loss, any directly attributable transaction costs. Subsequent to initial recognition, non-derivative financial
instruments are measured as described below:
Loans and receivables

Loans and receivables are financial assets with fixed or determinable payments that are not quoted in an active
market. Such assets are initially measured at fair value plus any directly attributable transaction costs. Subsequent to
initial recognition, loans and receivables are measured at amortised cost using the effective interest method, less any
impairment losses.
Loans and receivables comprise cash and cash equivalents, and trade and other receivables (including amounts due from
related parties).


3.6 Financial instruments (continued)
(i) Non-derivative financial instruments (continued)
Available-for-sale financial assets
Available-for-sale financial assets are non-derivative financial assets that are designated as available for sale or are not
classified in any of the above categories of financial assets. Available-for-sale financial assets are initially measured at fair
value (normally the transaction price) plus any directly attributable transaction costs.
When the fair value at initial recognition differs from the transaction price, for fair value evidenced by a quoted price
in an active market, the difference will be recognised as a gain or loss in the income statement. For all other cases, the
difference would be recognised to other comprehensive income.
Subsequent to initial recognition, available-for-sale financial assets are measured at fair value and changes therein are
recognised in other comprehensive income and presented in the fair value reserve in equity. When an investment is
derecognised, the gain or loss accumulated in equity is reclassified to the income statement.
Available-for-sale financial assets comprise equity securities.
Trade and other payables

Trade and other payables (including amounts due to related parties) are carried at amortised cost using the effective
interest method.
Borrowings
Borrowings are carried at amortised cost using the effective interest method. Any difference between the proceeds (net of
transactions costs) and the settlement or redemption of borrowings is recognised in the income statement over the period
of the borrowings.
(ii) Share capital

Ordinary Shares
Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new equity shares are
recognised as a deduction from equity, net of any tax effects.
Repurchase, disposal and reissue of share capital (treasury shares)

Where share capital recognised as equity is repurchased and held as treasury shares, the amount of the consideration paid,
including directly attributable costs, net of any tax effects, is presented as a deduction from equity. Where such shares are
subsequently reissued, sold or cancelled, the consideration received is recognised as a change in equity. No gain or loss is
recognised in the income statement.

3.6 Financial instruments (continued)
(iii) Derivative financial instruments, including hedge accounting
The Group uses interest rate swaps and forward foreign exchange contracts to hedge its exposure to interest rate risks and
foreign exchange risks arising from operational, financing and investment activities. In accordance with its treasury policy,
the Group does not hold or issue derivative financial instruments for trading purposes.
Derivative financial instruments are recognised initially at fair value. Subsequent to initial recognition, derivative financial
instruments are remeasured at fair value prevailing at reporting date. The gain or loss on remeasurement to fair value is
recognised immediately in the income statement. However, where derivatives qualify for hedge accounting, recognition of
any resultant gain or loss depends on the nature of the item being hedged as described in below.
The fair value of interest rate swaps is the estimated amount that the Group would receive or pay to terminate the swap at
the reporting date, taking into account current interest rates and the current creditworthiness of the swap counterparties.
The fair value of forward exchange contracts is their quoted market price at the reporting date, being the present value of
the quoted forward price.
Cash flow hedges

Where a derivative financial instrument is designated as a hedge of the variability in cash flows of a recognised asset
or liability, or a highly probable forecast transaction, the effective part of any gain or loss on the derivative financial
instrument is recognised directly in other comprehensive income and presented in the hedging reserve in equity.
When the forecast transaction subsequently results in the recognition of a non-financial asset or non-financial liability,
or the forecast transaction for a non-financial asset or non-financial liability becomes a firm commitment for which fair
value hedge accounting is applied, the associated cumulative gain or loss is removed from other comprehensive income
and included in the initial cost or other carrying amount of the non-financial asset or liability. If a hedge of a forecast
transaction subsequently results in the recognition of a financial asset or financial liability, the associated gains and losses
that were recognised in other comprehensive income are reclassified into the income statement in the same period or
periods during which the asset acquired or liability assumed affects the income statement.
For other cash flow hedges, the associated cumulative gain or loss that was recognised in other comprehensive income
is removed and recognised in the income statement in the same period or periods during which the hedged forecast
transaction affects the income statement. The ineffective part of any gain or loss is recognised immediately in the
Financials
income statement.
When a hedging instrument expires or is sold, terminated or exercised, or the entity revokes designation of the hedge
relationship but the hedged forecast transaction is still expected to occur, the cumulative gain or loss at that point remains
in other comprehensive income and is recognised in accordance with the above policy when the transaction occurs. If
the hedged transaction is no longer expected to take place, the cumulative unrealised gain or loss recognised in other
comprehensive income is recognised immediately in the income statement.
Other non-trading derivatives

When a derivative financial instrument is not designated in a hedge relationship that qualifies for hedge accounting, all
changes in its fair value are recognised immediately in the income statement.


3.7 Impairment
(i) Non-derivative financial assets
A financial asset not carried at fair value through profit or loss, including an interest in an associate, is assessed at the end
of each reporting period to determine whether there is objective evidence that it is impaired. A financial asset is impaired if
objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event
has an impact on the estimated future cash flows of that asset that can be estimated reliably.
Loans and receivables

Objective evidence that financial assets (including equity securities) are impaired can include default or delinquency
by a debtor, restructuring of an amount due to the Group on terms that the Group would not consider otherwise,
indications that a debtor or issuer will enter bankruptcy, adverse changes in the payment status of borrowers or issuers,
economic conditions that correlate with defaults or the disappearance of an active market for a security. In addition, for an
investment in an equity security, a significant or prolonged decline in its fair value below its cost is objective evidence of
impairment.
The Group considers evidence of impairment for loans and receivables at both specific asset and collective level. All
individually significant loans and receivables are assessed for specific impairment. All individually significant receivables
found not to be specifically impaired are then collectively assessed for any impairment that has been incurred but not yet
identified. Loans and receivables that are not individually significant are collectively assessed for impairment by grouping
together loans and receivables with similar risk characteristics.
In assessing collective impairment, the Group uses historical write-off patterns and ageing of receivables. Bad debts are
written off when incurred.
Available-for-sale financial assets

Impairment losses on available-for-sale financial assets are recognised by reclassifying the losses accumulated in the fair
value reserve in equity to the income statement. An impairment loss in respect of on the cumulative loss that is reclassified
from equity to the income statement is the difference between the acquisition cost, and the current fair value, less any
impairment loss recognised previously in the income statement. Any subsequent recovery in the fair value of an impaired
available-for-sale equity security is recognised in other comprehensive income and presented in the fair value reserve
in equity.
Associates
An impairment loss in respect of an associate is measured by comparing the recoverable amount of the investment with its
carrying amount in accordance with Note 3.7(ii). An impairment loss is recognised in the income statement. An impairment
loss is reversed if there has been a favourable change in the estimates used to determine the recoverable amount.

3.7 Impairment (continued)
(ii) Non-financial assets
The carrying amounts of the Group’s non-financial assets, other than inventories and deferred tax assets, are reviewed at
each reporting date to determine whether there is any indication of impairment. If any such indication exists, the asset’s
recoverable amount is estimated. For goodwill, intangible assets with indefinite useful lives and intangible assets not yet
available for use, the recoverable amount is estimated each year at the same time. An impairment loss is recognised if the
carrying amount of an asset or its related cash generating unit (“CGU”) exceeds its estimated recoverable amounts.
The recoverable amount of an asset or its CGU is the greater of its value-in-use and its fair value less costs to sell. In
assessing value-in-use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset or CGU.
For an asset that does not generate cash inflows largely independent of those from other assets, the recoverable amount
is determined for the CGU to which the asset belongs. For the purpose of goodwill impairment testing, CGUs to which
goodwill has been allocated are aggregated so that the level at which impairment testing is performed reflects the lowest
level within the Group at which goodwill is monitored for internal reporting purposes.
Impairment losses recognised in the income statement in respect of CGU are allocated first to reduce the carrying amount
of any goodwill allocated to the CGU (group of units) and then, to reduce the carrying amount of other assets in the CGU
(group of units) on a pro rata basis.
An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognised in
prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An
impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An
impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that
would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised. All reversals
of impairment are recognised in the income statement.
Goodwill that forms part of the carrying amount of an investment in an associate is not recognised separately, and
therefore is not tested for impairment separately. Instead, the entire amount of the investment in an associate is tested for
impairment as a single asset when there is objective evidence that the investment in an associate may be impaired.
Financials
3.8 Employee benefits
(i) Share-based payment
Share Option Plans
The Share Option Plans allow the Group employees and directors to acquire shares of the Company. The fair value of
options granted is recognised as an employee expense with a corresponding increase in equity. The fair value is measured
at grant date and spread over the period during which the employees and directors become unconditionally entitled to the
options. At each reporting date, the Company revises its estimates of the number of options that are expected to become
exercisable. It recognises the impact of the revision of original estimates in employee expense and in a corresponding
adjustment to equity over the remaining vesting period. The proceeds received net of any directly attributable transaction
costs are credited to share capital when the options are exercised.
Performance Share Plans and Restricted Stock Plans

The Performance Share Plans and the Restricted Stock Plans are accounted as equity-settled share-based payments.
Equity-settled share-based payments are measured at fair value at the date of grant. The share-based expense is
amortised and recognised in the income statement on a straight line basis over the vesting period. At each reporting date,
the Company revises its estimates of the number of shares that the participating employees and directors are expected to
receive based on non-market vesting conditions. The difference is charged or credited to the income statement, with a
corresponding adjustment to equity.


3.8 Employee benefits (continued)
(ii) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the income statement when incurred.
(iii) Other short-term benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service
is provided.
(iv) Other long-term benefits

Long-term employee benefit obligations are measured on performance conditions over a period of three years.
The Group adopts an incentive compensation plan, which is tied to the creation of Economic Value Added (“EVA”) for its
management personnel executives. An EVA bank is used to hold incentive compensation credited in any year. Typically
one-third of the accumulated EVA-based bonus, comprising the EVA declared in the financial year and the balance of such
bonus brought forward from preceding years is paid out in cash each year, with the balance being carried forward to the
following year. The balances of the EVA bank in future will be adjusted by the yearly EVA performance of the Group and
the payouts made from the EVA bank.
3.9 Customer loyalty programmes

For customer loyalty programmes, the fair value of the consideration received or receivable from a sales transaction which
attracts customer loyalty credits or points is allocated between the customer loyalty points and the other component of
the sale. The amount allocated to the customer loyalty points is estimated by reference to the fair value of the customer
loyalty points for which they could be redeemed. The fair value of the customer loyalty points is estimated by taking
into account the expected redemption rate and the timing of such expected redemptions. Such amount is deferred and
recorded as unearned revenue until the customer loyalty points are redeemed. At this juncture, the cost of fulfilling the
customer loyalty credits is also recognised.
3.10 Provisions
Provisions are recognised in the statement of financial position when the Group has a present legal or constructive
obligation as a result of a past event, and it is probable that an outflow of economic benefits will be required to settle
the obligation and a reliable estimate can be made of the amount of obligation. If the effect is material, provisions
are determined by discounting the expected future cash flows at a pre-tax discount rate that reflects current market
assessments of the time value of money and, where appropriate, the risks specific to the liability.

3.11 Revenue recognition
Revenue comprises fees earned from telecommunications services, broadband access, Pay TV, related advertising space
and sales of equipment. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
Group and the revenue can be reliably measured. Revenue is recognised in the income statement as follows:
• Revenue from telecommunications, broadband and cable television services and advertising space is recognised
at the time such services are rendered. Revenue billed in advance of the rendering of services is deferred and
presented in the statement of financial position as unearned revenue.
• Revenue from managed services is recognised at the time such services are rendered.
• Revenue from sales of pre-paid phone cards for which services have not been rendered is deferred and presented
in the statement of financial position as unearned revenue. Upon the expiry of pre-paid phone cards, any unutilised
value of the cards is taken to the income statement.
• Revenue from sales of equipment is recognised upon delivery and acceptance of the equipment sold.
• Revenue from bundled products and services is recognised based on values allocated to the individual elements of
the bundled products and services in accordance to the earning process of each element.
3.12 Finance income and costs

Finance income comprises interest income on bank deposits. Interest income is recognised on a time-apportioned basis
taking into account the principal outstanding at the applicable rate.
Finance costs comprise interest expense and similar charges. They are recognised in the income statement using the
effective interest method, except to the extent that they are capitalised as being directly attributable to the acquisition,
construction or production of an asset which necessarily takes a substantial period of time to prepare for its intended use
or sale.
3.13 Government grants

Government grants received, which are designated for the purchase of property, plant and equipment, are accreted to the
Financials
income statement on a straight-line basis over the estimated useful lives of the related assets, so as to match the related
depreciation expense.
Government grants received, which are designated for operating expenditure, are recognised on a systematic basis in the
income statement over the periods necessary to match the related cost which they are intended to compensate.
3.14 Marketing and promotions

Advertising costs are expensed when incurred. The direct costs of acquiring customers, including commission and
promotion expenses, are recognised in the income statement when incurred.
3.15 Operating leases

Where the Group has the use of assets under operating leases, payments made under the leases are recognised in the
income statement on a straight-line basis over the terms of the lease. Lease incentives received are recognised in the
income statement as an integral part of the total lease payments made. Contingent rentals are charged to the income
statement in the accounting period in which they are incurred.


3.16 Income taxes
Income taxes comprise current tax and deferred tax. Income taxes are recognised in the income statement except to
the extent that it relates to items recognised directly in equity, in which case such tax is recognised in equity, or in other
comprehensive income.
Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively
enacted at the reporting date, and any adjustment to tax payable in respect of previous years.
Deferred tax is recognised in respect of temporary differences at the balance sheet date arising between the tax bases of
assets and liabilities and their carrying amounts in the financial statements.
Deferred tax is provided based on the expected realisation or settlement of the temporary differences, using tax rates
enacted or substantively enacted at the reporting date.
Deferred tax assets and liabilities are not recognised for:
• temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business
combination and that affects neither accounting nor taxable profit or loss;
• temporary differences relating to investments in subsidiaries and associate to the extent that the Group is able to
control the timing of the reversal of the temporary difference and it is probable that they will not reverse in the
foreseeable future; and
• taxable temporary differences on the initial recognition of goodwill.
A deferred tax asset is recognised only to the extent that it is probable that future taxable profit will be available against
which the temporary differences can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced
to the extent that it is no longer probable that the related tax benefit will be realised.
3.17 Dividends
Interim dividends to the Company’s shareholders are recognised in the financial year in which they are declared payable.
Final dividends to the Company’s shareholders are recognised in the financial year in which the dividends are approved by
the shareholders.
3.18 Segment reporting

Segment information is presented based on the information reviewed by chief operating decision maker (“CODM”) for
performance assessment and resource allocation.
The Group operates primarily in Singapore and delivers its Mobile, Pay TV, Broadband, Enterprise Fixed revenue and
equipment sales on an operationally integrated network, and has a centralised customer service, sales, marketing and
administration support. Based on the financial information regularly reviewed by the CODM, the Group has one operating
and reporting segment.
4 Property, Plant and Equipment
Office
equipment,
computers
Leasehold Leasehold Leasehold Freehold Network and furniture Motor Construction
land buildings improvements property equipment and fittings vehicles in progress Total
Group $m $m $m $m $m $m $m $m $m
Cost
At 1 January 2015 34.3 9.1 49.2 1.7 3,209.2 160.3 6.6 89.9 3,560.3
Additions – – – – 4.2 19.3 0.4 228.6 252.5
Transfers – 0.1 1.8 – 236.5 – – (238.4) –
Disposals/Write-offs – – (2.8) – (103.2) (8.5) (0.5) – (115.0)
Disposal of subsidiary (34.3) – – – – – – (19.6) (53.9)
At 31 December 2015 – 9.2 48.2 1.7 3,346.7 171.1 6.5 60.5 3,643.9
At 1 January 2016 – 9.2 48.2 1.7 3,346.7 171.1 6.5 60.5 3,643.9
Additions – – – – 6.8 16.4 0.7 231.6 255.5
Transfers – – 1.3 – 234.4 – – (235.7) –
At 31 December 2016 – 9.2 46.3 1.7 3,470.9 176.6 6.9 56.4 3,768.0
Accumulated depreciation and impairment losses

At 1 January 2015 1.0 1.7 45.7 – 2,459.8 135.4 5.6 – 2,649.2
Charge for the year 0.3 0.3 1.8 – 203.2 13.7 0.5 – 219.8
Impairment losses – – – – 0.6 – – – 0.6
Disposal of subsidiary (1.3) – – – – – – – (1.3)
At 31 December 2015 – 2.0 44.7 – 2,560.9 140.7 5.6 – 2,753.9
At 1 January 2016 – 2.0 44.7 – 2,560.9 140.7 5.6 – 2,753.9
Financials
Charge for the year – 0.3 1.5 – 209.9 13.9 0.4 – 226.0
At 31 December 2016 – 2.3 43.9 – 2,654.3 143.8 5.7 – 2,850.0
Carrying amount
At 31 December 2015 – 7.2 3.5 1.7 785.8 30.4 0.9 60.5 890.0
At 31 December 2016 – 6.9 2.4 1.7 816.6 32.8 1.2 56.4 918.0
Staff costs capitalised in construction in progress for the Group during the year amounted to $3.4 million (2015: $3.3 million).

4 Property, Plant and Equipment (continued)
Office
equipment,
computers
Leasehold Leasehold Network and furniture Motor Construction
buildings improvements equipment and fittings vehicles in progress Total
Company $m $m $m $m $m $m $m
Cost
At 1 January 2015 9.1 40.9 1,236.7 113.9 2.1 48.9 1,451.6
Additions – – – 10.1 0.1 86.7 96.9
Transfers 0.1 1.7 92.4 – – (94.2) –
Disposals/Write-offs – (2.8) (3.4) (7.7) (0.2) – (14.1)
At 31 December 2015 9.2 39.8 1,325.7 116.3 2.0 41.4 1,534.4
At 1 January 2016 9.2 39.8 1,325.7 116.3 2.0 41.4 1,534.4

Additions – – – 12.5 – 100.1 112.6
Transfers – 1.3 117.9 – – (119.2) –
Disposals/Write-offs – (3.2) (24.2) (2.0) – – (29.4)
At 31 December 2016 9.2 37.9 1,419.4 126.8 2.0 22.3 1,617.6
Accumulated depreciation
At 1 January 2015 1.7 38.8 909.3 99.6 1.7 – 1,051.1
Charge for the year 0.3 1.0 76.1 7.9 0.2 – 85.5
Disposals/Write-offs – (2.8) (3.0) (7.6) (0.2) – (13.6)
At 31 December 2015 2.0 37.0 982.4 99.9 1.7 – 1,123.0
At 1 January 2016 2.0 37.0 982.4 99.9 1.7 – 1,123.0

Charge for the year 0.3 1.1 81.8 8.4 0.1 – 91.7
Disposals/Write-offs – (2.3) (23.8) (2.0) – – (28.1)
At 31 December 2016 2.3 35.8 1,040.4 106.3 1.8 – 1,186.6
Carrying amount
At 31 December 2015 7.2 2.8 343.3 16.4 0.3 41.4 411.4
At 31 December 2016 6.9 2.1 379.0 20.5 0.2 22.3 431.0
5 Intangible Assets
Telecommunications
and spectrum Software in
licences Software development Goodwill Total
Group $m $m $m $m $m
Cost
At 1 January 2015 156.8 489.9 12.6 220.3 879.6
Additions – 0.2 36.3 – 36.5
Transfers – 32.2 (32.2) – –
Disposals/Write-offs (1.0) (4.2) – – (5.2)
At 31 December 2015 155.8 518.1 16.7 220.3 910.9
At 1 January 2016 155.8 518.1 16.7 220.3 910.9

Additions 80.3 0.3 35.1 – 115.7
Transfers – 34.9 (34.9) – –
Disposals/Write-offs – (3.6) – – (3.6)
At 31 December 2016 236.1 549.7 16.9 220.3 1,023.0
Accumulated amortisation
At 1 January 2015 72.0 403.1 – – 475.1
Charge for the year 7.8 44.8 – – 52.6
Disposals/Write-offs (1.0) (3.9) – – (4.9)
At 31 December 2015 78.8 444.0 – – 522.8
At 1 January 2016 78.8 444.0 – – 522.8

Charge for the year 9.1 30.9 – – 40.0
Disposals/Write-offs – (3.6) – – (3.6)
At 31 December 2016 87.9 471.3 – – 559.2
Financials
Carrying amount
At 31 December 2015 77.0 74.1 16.7 220.3 388.1
At 31 December 2016 148.2 78.4 16.9 220.3 463.8
Impairment testing of goodwill

The Group, through its “Hubbing” strategy, operates and delivers its Mobile, Pay TV, Broadband and Enterprise Fixed
services on an operationally integrated network, customer service, sales, marketing and administration support. For
the purposes of impairment testing, goodwill is allocated to the cash generating unit (“CGU”) comprising the Group’s
integrated fixed, mobile, cable and broadband operations. This represents the lowest level within the Group at which
goodwill is monitored for impairment for internal management purposes.
The recoverable amount of the CGU is determined based on value-in-use calculations. The key assumptions for the value-
in-use calculations are the discount rates, growth rates and expected changes to profit margins.

5 Intangible Assets (continued)

Impairment testing of goodwill (continued)
The cash flow projections include the financial budget for the Group for the year ending 31 December 2017, which were
approved by the board, and management’s forecast for a further two years ending 31 December 2019. The forecast
cash flows of 3 years (2015: 3 years) were extrapolated using an estimated growth rate of 1.1% (2015: 3.8%), taking into
consideration the competitive pressures on EBITDA margins. The pre-tax discount rate applied to cash flow projections is
at 6.6% (2015: 6.3%) and the forecast long-term growth rate used to extrapolate the cash flow projections beyond the third
year is Nil (2015: Nil).
No impairment charge was required for the carrying amount of goodwill assessed as at 31 December 2016 and
31 December 2015 as the recoverable value was in excess of the carrying value. A reasonable change to the key
assumptions applied was not likely to cause the recoverable value to be below the carrying value.
Telecommunications Software in
licences Software development Total
Company $m $m $m $m
Cost
At 1 January 2015 1.0 418.0 10.5 429.5
Additions – – 28.4 28.4
Transfers – 24.4 (24.4) –
Disposals (1.0) – – (1.0)
At 31 December 2015 – 442.4 14.5 456.9
At 1 January 2016 – 442.4 14.5 456.9

Additions 0.3 – 31.0 31.3
Transfers – 30.7 (30.7) –
Disposals – (0.1) – (0.1)
At 31 December 2016 0.3 473.0 14.8 488.1
Accumulated amortisation
At 1 January 2015 0.9 349.3 – 350.2
Charge for the year 0.1 37.0 – 37.1
Disposals (1.0) – – (1.0)
At 31 December 2015 – 386.3 – 386.3
At 1 January 2016 – 386.3 – 386.3

Charge for the year 0.1 23.5 – 23.6
Disposals – (0.1) – (0.1)
At 31 December 2016 0.1 409.7 – 409.8
Carrying amount
At 31 December 2015 – 56.1 14.5 70.6
At 31 December 2016 0.2 63.3 14.8 78.3
Staff costs capitalised in software in development for the Group and Company during the year amounted to $2.4 million
(2015: $1.8 million).
6 Subsidiaries
Company
2016 2015
$m $m
Investments in subsidiaries, at cost 1,209.1 1,209.1

Loans to subsidiaries 1,270.7 556.0
Discount implicit in the interest-free loan to a subsidiary 21.9 21.9
2,501.7 1,787.0
Allowance for impairment losses (28.9) (28.9)
2,472.8 1,758.1
At 31 December 2016, the loans to the subsidiaries are unsecured, not repayable within the next 12 months and bore
interest ranging from 2.86% to 3.04% (2015: 2.72% to 3.48%) per annum.
During the year, loans to subsidiaries of $714.7 million (2015: $66.0 million) were reclassified from amounts due from
related parties to form part of the Company’s interest in subsidiaries.
Country of
incorporation/ Effective equity
Name of company Principal activities business interest held by the Group
2016 2015
% %
The subsidiaries directly held by the Company are as follows:
StarHub Cable Vision Ltd. (1) Provision of subscription television and Singapore 100 100
television broadcasting services
StarHub Mobile Pte Ltd (1) Provision of mobile telecommunications Singapore 100 100
services
StarHub Internet Pte Ltd (1) Provision and operation of internet services Singapore 100 100
StarHub Online Pte Ltd (1) Provision of broadband access services Singapore 100 100
Financials
Nucleus Connect Pte. Ltd. (1) Provision of high speed wholesale Singapore 100 100
broadband services
StarHub (Mauritius) Ltd (2) Investment holding company and for Mauritius 100 100
acquisition of info-communication and
infotainment services
StarHub (Hong Kong) Limited (3) Provision of telecommunication services Hong Kong 100 100
StarHub Shop Pte Ltd (4) Dormant Singapore 100 100
StarHub, Inc. (4) Dormant United States 100 100
Other subsidiary indirectly held by the Company is as follows:
Foosti Pte. Ltd. (5) Dormant Singapore – 100
(1) Audited by KPMG LLP Singapore

(2) Audited by KPMG Mauritius, a member firm of KPMG International
(3) Audited by another firm
(4) Not required to be audited by laws of the country of incorporation
(5) The company had been fully dissolved on 11 August 2016

7 Associate
Group Company
2016 2015 2016 2015
$m $m $m $m
Investment in associate 27.8 27.8 27.8 27.8

Share of post-acquisition reserves (1.9) (0.3) – –
25.9 27.5 27.8 27.8
Country of
incorporation/ Effective equity
Name of company Principal activities business interest held by the Group
2016 2015
% %
SHINE Systems Assets Pte. Ltd. (1) Investment in, ownership or lease of Singapore 30 30
infrastructure assets and provision of data
centre services
(1) Audited by KPMG LLP Singapore
The following summarises the financial information of the associate, based on its financial statements prepared in
accordance with FRS, amended for fair value adjustments on acquisition:
2016 2015
$m $m
Summarised Statement of Financial Position
Non-current assets 202.5 93.2

Current liabilities (16.9) (15.9)
Non-current liabilities (122.9) –
Net assets 86.3 91.7
Reconciliation to carrying amount:

Opening net assets 91.7 93.4
Loss for the year (5.4) (1.7)
Closing net assets 86.3 91.7
Summarised Statement of Comprehensive Income
Total revenue 4.2 –
Loss for the year (5.4) (1.7)

Other comprehensive loss – –
Total comprehensive loss for the year (5.4) (1.7)
Group’s share in % 30% 30%

Group’s share of loss of associate (net of tax) for the year (1.6) (0.3)
Carrying amount of interest in associate at end of the year 25.9 27.5
8 Available-for-sale Financial Assets

Group Company
2016 2015 2016 2015
$m $m $m $m
Quoted equity securities 40.0 – 40.0 –
Included in available-for-sale financial assets was a day one fair value gain arising on initial acquisition of $9.5 million
(2015: Nil) (see Note 24).
9 Balance with Related Parties

The immediate and ultimate holding companies are Asia Mobile Holdings Pte. Ltd. and Temasek Holdings (Private) Limited
respectively. These companies are incorporated in the Republic of Singapore.
9.1 Amounts due from related parties

Group Company
2016 2015 2016 2015
$m $m $m $m
Current
Amounts due from (trade):
– Ultimate holding company 0.1 0.1 0.1 –
– Subsidiaries – – 2.1 97.2
– Related corporations 20.6 25.9 16.1 13.6
– Loan to associate 1.1 – 1.1 –
21.8 26.0 19.4 110.8
Non-current
Amount due from (trade):
– Subsidiary – – – 344.2
– Loan to associate 7.6 – 7.6 –
Financials
7.6 – 7.6 344.2
All outstanding current trade balances with ultimate holding company, subsidiaries and related corporations are
unsecured, interest-free and repayable on demand. These outstanding balances with ultimate holding company,
subsidiaries and related corporations are not impaired as at the financial year end.
The non-current trade amount due from a subsidiary was unsecured, interest free and is not repayable within the
next 12 months.
The current loan to associate is unsecured, bear interest rate of 2.86% and 2.96% (2015: Nil) and is repayable in
October 2017 and December 2017 respectively.
The non-current loan to associate is unsecured, bear interest rate of 3.53% (2015: Nil) and is repayable in June 2021.

9 Balance with Related Parties (continued)

9.2 Amounts due to related parties
Group Company
2016 2015 2016 2015
$m $m $m $m
Current
Amounts due to (trade):
– Subsidiaries – – 338.5 373.8
– Related corporations 67.1 122.5 18.0 30.6
67.1 122.5 356.5 404.4
The amounts due to subsidiaries include unsecured interest bearing amounts of $178.7 million (2015: $167.9 million) at
interest rates ranging from 0.95% to 1.73% (2015: 0.93% to 1.25%) per annum and are repayable on demand. The remaining
amounts due to subsidiaries and related corporations have trade terms.
9.3
The Company’s balances with subsidiaries included amounts netted under agreed master netting arrangements. The
amounts before netting are as follows:
Gross amounts
Gross amounts offset Net amounts
Company $m $m $m
2016
Current
Amounts due from subsidiaries 458.5 (456.4) 2.1
Amounts due to subsidiaries 794.9 (456.4) 338.5
2015
Current
Amounts due from subsidiaries 565.5 (468.3) 97.2
Amounts due to subsidiaries 842.1 (468.3) 373.8
Non-current
Amounts due from subsidiaries 344.2 – 344.2
10 Inventories
Group Company
2016 2015 2016 2015
$m $m $m $m
Equipment held for resale 47.7 52.6 0.7 50.1

Maintenance and project inventories 1.9 1.7 – –
49.6 54.3 0.7 50.1
Allowance made/(written back) during the year 0.5 (0.5) (0.4) (0.7)
In 2016, inventories of $447.8 million (2015: $487.1 million) were recognised as an expense during the period and included
in ‘cost of sales’.
During the year, the Company transferred its equipment held for resale amounting to $36.9 million to one of its subsidiaries.
11 Trade Receivables
Group Company
2016 2015 2016 2015
$m $m $m $m
Trade receivables 213.0 186.4 181.6 168.8

Allowance for doubtful receivables (40.8) (33.1) (39.9) (31.3)
172.2 153.3 141.7 137.5
The trade receivables of the Company include amounts billed under a combined billing arrangement to customers for
services provided by certain subsidiaries.
The Group’s and the Company’s primary credit risk exposure arises through its trade receivables, which include
corporate and retail customers. There is no concentration of credit risk with respect to trade receivables as the Group
and the Company have a large number of customers. The recorded allowances for doubtful receivables have been
made based on the Group’s and the Company’s historical collections experience. Due to these factors, management
believes that no additional credit risk beyond the amounts provided for collection losses is inherent in the Group and the
Company’s trade receivables.
The age analysis of trade receivables past due but not impaired at the reporting date is as follows:
Group Company
2016 2015 2016 2015
$m $m $m $m
Past due 1 – 15 days 33.3 40.9 30.3 37.7

Past due above 15 days 69.1 50.5 49.3 41.9
102.4 91.4 79.6 79.6
The movements in allowance for doubtful receivables in respect of trade receivables during the year are as follows:
Group Company
2016 2015 2016 2015
$m $m $m $m
At beginning of year 33.1 29.5 31.3 27.8
Financials
Allowance for doubtful receivables 21.0 18.4 7.5 5.4
Recharged to subsidiaries – – 14.4 12.9
Allowance utilised (13.3) (14.8) (13.3) (14.8)
At end of year 40.8 33.1 39.9 31.3
12 Other Receivables, Deposits and Prepayments

Group Company
2016 2015 2016 2015
$m $m $m $m
Grant receivables 6.2 10.7 – –

Accrued revenue 115.4 113.9 8.0 11.1
Deposits 4.2 4.0 1.1 0.9
Prepayments 65.4 57.2 17.5 18.4
Other receivables 15.6 9.0 11.6 1.7
Mark-to-market financial instruments
– Forward exchange contracts 5.4 1.2 5.4 1.2
– Interest rate swaps – 0.8 – 0.8
212.2 196.8 43.6 34.1

13 Cash and Cash Equivalents

Group Company
2016 2015 2016 2015
$m $m $m $m
Fixed deposits 214.3 111.8 214.3 111.8

Cash at bank and in hand 70.9 61.6 21.7 42.4
285.2 173.4 236.0 154.2
Fixed deposits relates to deposits with financial institutions with maturities of three months or less (2015: six months or
less) with effective interest rates ranging from 0.80% to 1.25% (2015: 0.75% to 1.2%).
14 Trade and Other Payables

Group Company
2016 2015 2016 2015
Note $m $m $m $m
Current
Trade payables 91.3 98.9 72.1 77.4
Accruals 472.1 433.2 201.1 184.6
Unearned revenue 129.4 131.1 21.3 19.1
Deferred income 16 0.8 7.8 0.8 0.5
Deposits from customers 14.3 16.3 14.1 16.1
707.9 687.3 309.4 297.7
Non-current
Unearned revenue 21.6 22.7 21.6 22.7
15 Borrowings
Group and Company
2016 2015
Note $m $m
Current
Bank loans 15.1 10.0 137.5
Non-current
Bank loans 15.1 457.5 330.0
Medium term notes 15.2 520.0 220.0
977.5 550.0
15 Borrowings (continued)
15.1 Bank loans
Group and Company
2016 2015
$m $m
Repayable:
– Within 1 year 10.0 137.5
– After 1 year but within 5 years 457.5 330.0
467.5 467.5
At 31 December 2016, the unsecured bank loans bear interest at rates ranging from 1.67% to 2.98% (2015: 1.47% to 2.98%)
per annum.
There is no material difference between the carrying amount and fair value of the bank loans.
15.2 Medium term notes

The Company has established a multicurrency medium term note programme with a maximum aggregate principal
amount of $1,000.0 million in September 2011. In September 2012, the Company issued a $220.0 million 10-year medium
term note which bears interest rate of 3.08% per annum and is repayable in September 2022.
In June 2016, the Company issued a $300.0 million 10-year medium term note which bears interest of 3.55% per annum
and is repayable in June 2026.
The fair value of the medium term note is $525.0 million (2015: $218.8 million).
16 Deferred Income
Group Company
2016 2015 2016 2015
$m $m $m $m
Deferred grants
Financials
At beginning of year 8.9 21.3 1.6 –
Grants receivable 1.7 2.3 1.7 2.3
Amount accreted to the income statement (8.4) (14.7) (1.1) (0.7)
At end of year 2.2 8.9 2.2 1.6
Deferred grants to be accreted:

Current (within 1 year) 0.8 7.8 0.8 0.5
Non-current (after 1 year but within 5 years) 1.4 1.1 1.4 1.1
Total 2.2 8.9 2.2 1.6
Deferred income refers to government grants received. Assets related grants are recognised over the estimated useful lives
of the related assets. Income related grants are recognised on a systematic basis over the periods to match the related cost.

17 Deferred Tax Liabilities

Movements in deferred tax liabilities during the year are as follows:
Recognised Recognised
in income in other
At statement comprehensive Recognised At
Group 1 January 2016 (Note 25) income in equity 31 December 2016
2016 $m $m $m $m $m
Deferred tax liabilities

Property, plant and equipment and intangible assets (134.3) (14.6) – – (148.9)
Other payables and accruals 1.8 0.5 – – 2.3
Derivatives (0.1) – (0.8) – (0.9)
Share-based payment transactions – 1.3 – 0.8 2.1
Unutilised capital allowances 8.4 (8.4) – – –
Unutilised tax losses 4.1 (4.1) – – –
Total (120.1) (25.3) (0.8) 0.8 (145.4)
Recognised Recognised
in income in other
At statement comprehensive Recognised At
Group 1 January 2015 (Note 25) income in equity 31 December 2015
2015 $m $m $m $m $m

Property, plant and equipment and intangible assets (143.9) 9.6 – – (134.3)
Other payables and accruals 3.8 (2.0) – – 1.8
Derivatives 0.3 – (0.4) – (0.1)
Unutilised capital allowances 8.5 (0.1) – – 8.4
Unutilised tax losses 4.1 – – – 4.1
Total (127.2) 7.5 (0.4) – (120.1)
Deferred tax assets are recognised to the extent that realisation of the related tax benefits through future taxable profits
is probable.
Deferred tax assets have not been recognised in respect of the following items:
2016 2015
$m $m
Tax losses 3.7 3.5
Deferred tax assets 0.6 0.6
The Group has not recognised deferred tax assets in respect of the above tax losses and capital allowances as the Group
does not expect to recover these potential deferred tax assets in the foreseeable future. The Group reassesses the
recovery of these potential deferred tax assets annually.
17 Deferred Tax Liabilities (continued)
Recognised
Recognised in other
At in income comprehensive Recognised At
Company 1 January 2016 statement income in equity 31 December 2016
2016 $m $m $m $m $m

Property, plant and equipment and intangible assets (61.8) (16.1) – – (77.9)
Other payables and accruals 0.6 1.7 – – 2.3
Derivatives (0.1) – 0.1 – –
Share-based payment transactions – 1.3 – 0.8 2.1
Total (61.3) (13.1) 0.1 0.8 (73.5)
Recognised
Recognised in other
At in income comprehensive Recognised At
Company 1 January 2015 statement income in equity 31 December 2015
2015 $m $m $m $m $m

Property, plant and equipment and intangible assets (76.8) 15.0 – – (61.8)
Other payables and accruals 0.6 – – – 0.6
Derivatives 0.3 – (0.4) – (0.1)
Total (75.9) 15.0 (0.4) – (61.3)
18 Share Capital
2016 2015
Number of Number of
shares shares
Company ’000 $m ’000 $m
Issued and fully paid ordinary shares:
Financials
At beginning of year 1,729,795 293.5 1,726,322 282.6
Issue of ordinary shares under the StarHub Performance
Share Plans and StarHub Restricted Stock Plans 1,856 6.2 3,297 10.6
Issue of ordinary shares for cash pursuant to the exercise of
options under the StarHub Share Option Plans – – 176 0.3
At end of year 1,731,651 299.7 1,729,795 293.5
The holders of ordinary shares (excluding treasury shares) are entitled to receive dividends as declared from time to time
and are entitled to one vote per share at meetings of the Company. All ordinary shares (excluding treasury shares) rank
equally with regard to the Company’s residual assets.

19 Reserves
Group Company
2016 2015 2016 2015
$m $m $m $m
Treasury shares (12.3) – (12.3) –

Merger/Capital reserve – – 276.5 276.5
Fair Value Reserve 12.5 – 12.5 –
Goodwill written off (276.3) (276.3) – –
Share-based payments reserve 14.1 12.3 14.1 12.3
Hedging reserve 4.4 0.5 – 0.5
Translation reserve 1.3 1.3 – –
Retained profits 151.5 156.3 1,143.1 992.2
(104.8) (105.9) 1,433.9 1,281.5
Treasury shares comprise the cost of the Company’s shares held by the Group. The Company bought 3,894,100 ordinary
shares from the market at a consideration of $12.3 million. There was no transfer of treasury shares during the year (2015: Nil).
The merger/capital reserve comprises reserve arising from the acquisition of a subsidiary, StarHub Cable Vision Ltd.
(“SCV”), on 2 July 2002 and the excess of the fair value of the Company’s shares issued as consideration for the acquisition
of SCV over its par value.
The fair value reserve comprises the cumulative net change in the fair value of available-for-sale financial assets until the
assets are derecognised or impaired.
The goodwill written off represents the excess of consideration paid on the acquisition of subsidiaries prior to 1 January
2001 over the Group’s share of the fair value of net assets acquired.
The share-based payments reserve comprises the cumulative value of services received from employees and directors
recorded in respect of the grant of share options and share awards.
The hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging
instruments related to hedged transactions.
The translation reserve comprises all foreign currency translation differences arising from the translation of the financial
statements of foreign operations.
20 Revenue
Group
2016 2015
$m $m
Mobile revenue 1,214.6 1,239.8

Pay TV revenue 377.8 391.0
Broadband revenue 216.8 200.3
Enterprise Fixed revenue 400.0 384.9
Sales of equipment 187.5 228.3
2,396.7 2,444.3
21 Operating Expenses
Group
2016 2015
$m $m
Cost of equipment sold 447.8 487.1

Cost of services 409.5 415.8
Traffic expenses 117.3 150.2
Depreciation and amortisation (net of asset grants) 265.0 271.4
Marketing and promotions 133.7 144.6
Staff costs 281.4 270.7
Allowance for doubtful receivables 21.0 18.4
Repairs and maintenance 96.9 86.0
Operating leases 116.1 121.7
Other expenses 115.1 82.7
2,003.8 2,048.6
Included in the Group’s cost of services is government grant amounting to $3.2 million (2015: $3.4 million).
21.1 Depreciation and amortisation (net of asset grants)

Depreciation and amortisation expenses comprise the following:
Group
2016 2015
$m $m
Depreciation of property, plant and equipment 226.0 219.8

Accretion of asset grants to the income statement (1.0) (1.0)
225.0 218.8
Amortisation of intangible assets 40.0 52.6
Total 265.0 271.4
21.2 Staff costs
Financials
The following are included in staff costs:
Group
2016 2015
$m $m
Defined contribution plans 27.4 25.1

Government grants - Wage Credit Scheme (4.7) (3.7)

21 Operating Expenses (continued)

21.2.1 Key management personnel compensation
The key management personnel compensation is as follows:
Group
2016 2015
$m $m
Short-term employee benefits 10.4 10.2

14.8 14.5
Included in the above is the total compensation to directors of the Company which amounted to $4.7 million
(2015: $5.0 million).
Key management personnel also participate in the StarHub Performance Share Plans and the StarHub Restricted Stock
Plans. The short term benefits include the Company balanced scorecard incentive programme to reward employees for
achieving or exceeding performance target.
Conditional awards of shares of 656,300 (2015: 534,700 shares) under the StarHub Performance Share Plans and
conditional awards of shares of 557,800 (2015: 435,800 shares) under the StarHub Restricted Stock Plans were granted to
the key management personnel of the Company during the year.
Awards of 120,300 shares (2015: 95,800 shares) under the StarHub Restricted Stock Plans were vested and delivered
to certain non-executive directors of the company as part of their non-executive directors’ remuneration, without any
performance or vesting conditions attached, during the year.
Based on the actual level of achievement of the pre-determined performance targets over the 2013 to 2015 performance
period, final awards comprising 79,800 (2015: 629,300) shares were delivered to the key management personnel of the
Company during the year under the 2013 conditional awards granted to key management personnel of the Company in
May 2013 pursuant to the StarHub Performance Share Plans.
Based on the actual level of achievement of the pre-determined performance targets over the 2014 to 2015 performance
period, final awards comprising 359,634 (2015: 372,780) shares were delivered to the key management personnel of the
Company during the year under the 2014 conditional awards granted to the key management personnel of the Company
in May 2014 pursuant to the StarHub Restricted Stock Plans. 180,000 shares under the final awards were delivered during
the year, with the balance of 179,634 shares to be delivered in phases according to the stipulated vesting periods.
All conditional share awards (except for the time-based restricted share awards) granted to the key management
personnel of the Company were on the same terms and conditions as those offered to other employees of the Company.
As at 31 December 2016, 1,761,100 (2015: 1,503,800) of the conditional awards of shares under the StarHub Performance
Share Plans, and 1,309,434 (2015: 1,199,380) of the conditional awards of shares under the StarHub Restricted Stock Plans
granted to the key management personnel were outstanding.

21.2.2 Share-based Payments
StarHub Performance Share Plans
Under the StarHub PSP and the StarHub PSP 2014 (collectively the “StarHub Performance Share Plans”), conditional
awards of shares are granted. Awards represent the right of a participant to receive fully paid shares, their equivalent cash
value or combinations thereof, free of charge, upon the participant achieving prescribed performance targets set based
on medium-term corporate objectives. Awards are released once the Company’s Executive Resource and Compensation
Committee is satisfied that the prescribed performance targets have been achieved. There is no vesting periods beyond
the performance achievement periods.
During the financial year ended 31 December 2016, the conditional grants of 656,300 (2015: 534,700) shares under the
StarHub Performance Share Plans were made to the key employees of the Group. These represent the number of shares
to be delivered when performance targets at “on-target” level are achieved, or as the case may be when the time-based
service conditions are completed.
The movements of the number of shares under the StarHub Performance Share Plans, the fair values of the grant at
measurement date and the assumptions of the fair value model for the grants of the Company are as follows:
Balance Number of Number of Number of Balance

outstanding at performance performance performance outstanding at
2016 1 January 2016 shares granted shares vested shares forfeited 31 December 2016
Date of grant ’000 ’000 ’000 ’000 ’000
31 May 2013 429 – (86) (343) –

10 March 2014 570 – – – 570
16 March 2015 535 – – – 535
22 March 2016 – 656 – – 656
Total 1,534 656 (86) (343) 1,761

outstanding at performance performance performance outstanding at
Date of grant ’000 ’000 ’000 ’000 ’000
Financials
25 May 2012 872 – (872) – –
31 May 2013 432 – – (3) 429
10 March 2014 645 – – (75) 570
16 March 2015 – 535 – – 535
Total 1,949 535 (872) (78) 1,534
The fair value of the shares is estimated using a Monte-Carlo simulation methodology at the measurement dates, which
are grant dates of the share awards. The assumptions under the model used for the grant in 2016 and 2015 are as follows:
Year of grant
2016 2015
Fair value $1.46 $2.94

Share price $3.32 $4.25
Expected volatility of the Company’s shares 15.28% 16.23%
Expected volatility of MSCI Asia-Pacific Telecommunications Component Stock 14.14% 12.42%
Expected dividend yield 5.70% 4.48%
Risk-free interest rates 1.16% 1.39%


21.2.2 Share-based Payments (continued)
StarHub Restricted Stock Plans
Under the StarHub RSP and StarHub RSP Plan 2014 (collectively the “StarHub Restricted Stock Plans”), awards granted vest
only after the satisfactory completion of time-based service conditions (time-based restricted awards) or where the award
is performance-related after a further period of service beyond the performance targets completion date (performance-
based restricted awards).
During the financial year ended 31 December 2016, the conditional grants of 2,884,800 (2015: 2,432,200) shares under
the StarHub Restricted Stock Plans were made to non-executive directors and key employees of the Group. These
represent the number of shares to be delivered when performance targets at “on-target” level are achieved, or as the case
may be when the time-based service conditions are completed.
During the financial year ended 31 December 2016, 141,300 (2015: 128,900) shares under the StarHub Restricted Stock
Plans were vested and delivered to certain non-executive directors of the Company as part of their non-executive
directors’ remuneration, without any performance or vesting conditions attached.
The movements of the number of shares under the StarHub Restricted Stock Plans, the fair values of the grant at
measurement date and the assumptions of the fair value model for the grants of the Company are as follows:

outstanding at restricted restricted restricted outstanding at
Date of grant ’000 ’000 ’000 ’000 ’000
31 May 2013 692 – (672) (20) –

10 March 2014 2,340 – (764) (863) 713
16 March 2015 2,266 – – (160) 2,106
8 July 2015 32 – (16) – 16
22 March 2016 – 2,460 – (80) 2,380
20 May 2016 – 267 (120) – 147
23 May 2016 – 157 (141) (16) –
Total 5,330 2,884 (1,713) (1,139) 5,362

outstanding at restricted restricted restricted outstanding at
Date of grant ’000 ’000 ’000 ’000 ’000
25 May 2012 912 – (912) – –

31 May 2013 1,407 – (699) (16) 692
10 March 2014 2,454 – (15) (99) 2,340
16 March 2015 – 2,271 – (5) 2,266
3 June 2015 – 129 (113) (16) –
8 July 2015 – 32 – – 32
Total 4,773 2,432 (1,739) (136) 5,330
The fair value of the share awards is estimated using a Monte-Carlo simulation methodology at the measurement dates,
which are grant dates of the share awards.

21.2.2 Share-based Payments (continued)
StarHub Restricted Stock Plans (continued)
The assumptions under the model used for the grant in 2016 and 2015 are as follows:
Year of grant
2016 2015
Fair value $2.91 - $3.33 $3.65 - $3.82

Share price $3.32 - $3.45 $3.98 - $4.25
Expected volatility of the Company’s shares 10.79% - 15.28% 16.23%
Expected dividend yield 5.46% - 5.70% 4.48% - 5.15%
Risk-free interest rates 0.70% - 1.14% 0.70% - 1.36%
21.3 Other expenses

Included in other expenses are the following:
Group
2016 2015
$m $m
Fees paid to auditors of the Company:

– Audit 0.4 0.4
– Non-audit 0.4 0.3
Foreign currency exchange loss/(gain), net 3.7 (1.4)
Changes in fair value of financial instruments 1.2 (1.0)
22 Other Income
Group
2016 2015
$m $m
Financials
Corporate recharges to related parties 0.2 0.2
Income related grants 32.0 45.4
32.2 45.6
23 Net Finance Costs

Group
2016 2015
$m $m
Interest income:
– Bank deposits 3.4 2.0
– Associate 0.1 –
Finance income 3.5 2.0
Interest expense:
– Bank loans 13.4 11.0
– Medium term note 12.8 6.8
Finance costs 26.2 17.8

24 Non-operating Income
Group
2016 2015
$m $m
Gain on deconsolidation of a subsidiary – 15.0

Fair value gain on initial recognition of available-for-sale (“AFS”) financial assets 9.5 –
9.5 15.0
The fair value gain on initial recognition of AFS financial assets arose from the difference between the transaction price
and the fair value of the quoted investment at the point when the transaction was concluded.
25 Taxation
Group
2016 2015
$m $m
Current tax
Current income tax 52.5 62.9
Utilisation of previously unrecognised deferred tax assets – (9.6)
(Over)/Under provision in prior year (8.9) 22.1
43.6 75.4
Deferred tax
Reversal and origination of temporary differences 17.2 12.8
Under/(Over) provision in prior year 8.7 (20.3)
Utilisation of previously unrecognised deferred tax assets (0.6) –
25.3 (7.5)
Total income tax in the income statement 68.9 67.9
A reconciliation between tax expense and the product of accounting profit multiplied by the applicable corporate tax rate
for the years ended 31 December is as follows:
Group
2016 2015
$m $m
Income tax using Singapore tax rate of 17% 69.8 74.8

Income not subject to tax (3.4) (2.7)
Non-deductible expenses 4.4 3.7
Utilisation of previously unrecognised deferred tax assets (0.6) (9.6)
(Over)/Under provision in prior year, net (0.2) 1.8
Tax benefit (1.3) –
Others 0.2 (0.1)
Total income tax in the income statement 68.9 67.9
25 Taxation (continued)
The Group’s utilisation of previously unrecognised deferred tax assets in prior year relate to unutilised tax losses and
unutilised capital allowances transferred from its subsidiaries under the group tax relief system in the Republic of Singapore.
Income tax recognised in other comprehensive income for the years ended 31 December are as follows:
Group
2016 2015
$m $m
Cash flow hedge, before taxation 4.7 2.3

Taxation (0.8) (0.4)
Effective portion of changes in fair value of cash flow hedge 3.9 1.9
26 Earnings Per Share

Basic EPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted
average number of ordinary shares outstanding (excluding treasury shares) during the year. Diluted EPS is determined
by adjusting the profit or loss attributable to ordinary shareholders and the weighted average number of ordinary shares
outstanding (excluding treasury shares), for the effects of all dilutive potential ordinary shares, which comprise share
options granted to employees under the StarHub share plans.
Group
2016 2015
$m $m
Profit attributable to equity holders 341.4 372.3

Number of shares
2016 2015
’000 ’000
Weighted average number of ordinary shares (basic) during the year #

1,727,348 1,729,101
Adjustment for dilutive effect of share plans 7,123 6,864
Weighted average number of ordinary shares (diluted) during the year 1,734,471 1,735,965
Financials
# Excludes treasury shares.
27 Earnings Before Interest, Taxation, Depreciation and Amortisation

The earnings before interest, taxation, depreciation and amortisation (“EBITDA”) is a supplementary indicator of
performance used by the Group. The measurement of EBITDA is not covered by FRS.
The Group defines EBITDA as follows:

Group
2016 2015
$m $m

Adjustments for:
Depreciation and amortisation (net of asset grants) 265.0 271.4
Finance income (3.5) (2.0)
Finance expense 26.2 17.8
Non-operating income (9.5) (15.0)
Share of loss of associate (net of tax) 1.6 0.3
EBITDA 690.1 712.7

28 Related Party Transactions

The Company has entered into contractual agreements on behalf of its subsidiaries, and recharges its subsidiaries based
on terms agreed between the parties involved.
In the normal course of business, the Group purchases and sells info-communications services to related companies.
The related party transactions are carried out on terms negotiated between the parties which are intended to reflect
competitive terms.
Other than disclosed above and elsewhere in the financial statements, significant transactions of the Group and the
Company with related parties during the financial year were as follows:
Group
2016 2015
$m $m
Ultimate holding company

Sales 0.4 0.5
Associate
Purchase of property, plant and equipment 5.0 –
Rental expenses 1.9 –
Purchase of services 0.2 –
Related corporations
Sales 60.7 70.0
Purchase of property, plant and equipment 13.3 19.5
Rental expenses 77.7 81.7
Purchase of services 142.3 183.7
Purchase of inventories 147.0 166.1
29 Dividends
Group and Company
2016 2015
$m $m
Final dividend of $0.05 (2015: $0.05) per share (1-tier tax exempt) paid in respect
of the previous financial year 86.5 86.5
Interim dividends of $0.15 (2015: $0.15) per share (1-tier tax exempt) paid in respect
of the current financial year 259.7 259.4
346.2 345.9
30 Segment Reporting
Segment information is presented based on the information reviewed by the chief operating decision maker (“CODM”) for
performance assessment and resource allocation.
The CODM assess the Group’s financial performance using performance indicators which include revenue, EBITDA,
capital expenditure and cash flow of the Group.
The Group operates primarily in Singapore in one segment. The Group delivers its Mobile, Pay TV, Broadband, Enterprise
Fixed services and equipment sales on a fully integrated network, and has a centralised customer service, sales, marketing
and administration support.
The Group has a large and diversified customer base which consists of individuals and corporations. There was no single
customer that contributed to 10% or more of the Group’s revenue.
The Group’s reportable segment information is as follows:

Group
2016 2015
$m $m
Mobile revenue 1,214.6 1,239.8

Pay TV revenue 377.8 391.0
Broadband revenue 216.8 200.3
Enterprise Fixed revenue 400.0 384.9
Sales of equipment 187.5 228.3
Total revenue 2,396.7 2,444.3
EBITDA 690.1 712.7

Depreciation and amortisation (net of asset grants) (265.0) (271.4)
Finance income 3.5 2.0
Finance expense (26.2) (17.8)
Non-operating income 9.5 15.0
Share of loss of associate (net of tax) (1.6) (0.3)
Financials
Taxation (68.9) (67.9)
Profit for the year 341.4 372.3
Assets and liabilities

Non-current assets 1,455.3 1,305.6
Total assets 2,196.3 1,909.4
Borrowings 987.5 687.5

Other non-current liabilities 168.4 143.9
Other current liabilities 845.5 890.4
Total liabilities 2,001.4 1,721.8
Other information
Capital expenditure 371.2 289.0
Free cash flow * 184.0 215.7
* Free cash flow refers to net cash from operating activities less purchase of property, plant and equipment and intangible assets in the consolidated cash
flow statement.

31 Financial Risk Management

Financial risk management objectives and policies
Exposure to credit, liquidity, interest risk, foreign exchange and market risks arises in the normal course of the Group’s
business. The Group has written risk management policies and guidelines which set out its overall business strategies, its
tolerance of risk and its general risk management philosophy, and has established processes to monitor and control the
hedging of transactions in a timely and accurate manner.
Derivative financial instruments are used to reduce exposure to fluctuations in foreign exchange rates and interest rates.
While these are subject to the risk of market rates changing subsequent to acquisition, such changes are generally offset
by opposite effects on the items being hedged.
The Group’s accounting policy in relation to derivative financial instruments is set out in Note 3.6(iii).
Credit risk
Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Periodic
frequent credit review and counterparty credit limits are practised.
The Group has no significant concentration of credit risk from trade receivables due to its large diversified customer base.
Credit evaluations are performed on corporate customers requiring credit. Identification documents are obtained from
retail customers. Deposits are obtained for certain categories of higher-risk customers.
The Group places its cash and cash equivalents and enters into treasury transactions only with creditworthy banks and
financial institutions.
The maximum credit risk exposure is represented by the carrying value of each financial asset in the statement of
financial position.
Liquidity risk
The Group actively monitors its liquidity risk and manages its operating cash flows, debt maturity profile and availability
of funding. The Group maintains sufficient level of cash and cash equivalents, expects to generate sufficient cash flows
from its operation, and has available funding through diverse sources of committed and uncommitted credit facilities from
banks and the capital market through its medium term note programme to ensure that there are adequate credit facilities
which may be utilised when the need arises to meet its working capital requirements.
At the end of the reporting period, assets held by the Group and the Company for managing liquidity risk included cash
and short-term deposits, as well as available credit from its medium term note programme. In addition, the Group also
reviews compliance with loan covenants.
31 Financial Risk Management (continued)

Liquidity risk (continued)
The following are the expected contractual undiscounted cash outflows (including interest payments) of financial liabilities:
Contractual cash flows
After After
1 year but within 5 years but within
Carrying amount Total Within 1 year 5 years 10 years
$m $m $m $m $m
Group
2016
Non-derivative financial liabilities
Borrowings 987.5 1,169.3 34.3 560.3 574.7
Trade and other payables ^ 577.7 577.7 577.7 – –
Amounts due to related parties 67.1 67.1 67.1 – –
1,632.3 1,814.1 679.1 560.3 574.7
2015
Borrowings 687.5 773.7 152.3 387.8 233.6
1,358.3 1,444.5 823.1 387.8 233.6
Company
2016
Borrowings 987.5 1,169.3 34.3 560.3 574.7
1,631.3 1,813.1 678.1 560.3 574.7
Financials
2015
Borrowings 687.5 773.7 152.3 387.8 233.6
1,369.9 1,456.1 834.7 387.8 233.6
^ The carrying amount of trade and other payables disclosed in the table excludes deferred income and unearned revenue.


Liquidity risk (continued)
The following table indicates the periods in which the cash flow hedges are expected to affect profit or loss:
Contractual cash flows

After
1 year but within
Carrying amount Total Within 1 year 5 years
Group and Company $m $m $m $m
2016
Derivative financial assets
Forward exchange contracts used
for hedging (gross-settled) 5.4
– Outflow (117.5) (117.5) –
– Inflow 122.9 122.9 –
5.4 5.4 5.4 –
2015
Derivative financial assets
Interest rate swaps used for hedging (net-settled) 0.8 0.8 0.5 0.3
Interest rate risk

The Group’s exposure to market risk for changes in interest rates relates primarily to the Group’s debt obligations.
The Group adopts a policy of ensuring that at least 50 percent of its exposure to changes in interest rates on bank loans
is on a fixed rate basis. Interest rate swaps, denominated in Singapore dollars, have been entered into to achieve
this purpose.
At 31 December 2016, the Group had outstanding interest rate swap agreements with notional principal amounts totalling
$20.0 million (2015: $145.0 million) in cash flow hedges against borrowings. These interest rate swaps will mature over
the remaining term of 0.5 years (2015: 0.6 year to 1.4 years) to hedge the floating semi-annual interest payments on
borrowings. The fixed interest payable has interest rates at 0.86% per annum (2015: 0.86% to 1.45% per annum).
Sensitivity analysis
The Group’s and the Company’s borrowings are denominated in Singapore dollars. An increase/decrease in the floating
interest rates by 100 basis points, with all other variables remaining constant, does not have a material impact in the
Group’s and the Company’s profit before taxation.

Foreign currency risk
The Group incurs foreign exchange risk on sales and purchases that are denominated in currencies other than the
respective functional currencies of Group entities. The currency giving rise to this risk is primarily the United States Dollar.
The Group’s and the Company’s exposures to United States Dollar are as follows:
Group Company
2016 2015 2016 2015
$m $m $m $m
Trade and other receivables 72.9 63.1 11.9 9.3

Cash and cash equivalents 55.3 108.0 43.9 104.1
Trade and other payables (156.8) (132.2) (49.0) (35.7)
(28.6) 38.9 6.8 77.7
For operations with significant expenditure denominated in foreign currencies, forward exchange contracts are entered
into to hedge the foreign currency risk on forecasted payment obligations. At 31 December 2016, the Group and the
Company have outstanding forward exchange contracts with notional principal amounts of approximately $117.5 million
(2015: $105.1 million). The current year forward exchange contracts are entered into by the Company on behalf of
a subsidiary.
In respect of other monetary liabilities held in foreign currencies, the Group ensures that the net exposure is kept to an
acceptable level by buying foreign currencies at spot rates where necessary to address any shortfalls.
Sensitivity analysis
The Group and Company had assessed that a reasonable change in the exchange rate would not result in a material
impact on the Group’s and Company’s results.
Market risk
The Group has investments in quoted equity shares. The market value of these investments will fluctuate with market
conditions.
The Group and Company had assessed that a reasonable change in the share price would not result in a material impact
Financials
on the Group’s and Company’s equity.



Estimation of fair values
The following summarises the significant methods and assumptions used in estimating the fair values of financial
instruments of the Group and Company:
Derivatives
Marked to market valuations of the forward exchange contracts are provided by the banks. For interest rate swaps,
valuations are also provided by the banks. Those quotes are tested using pricing models or discounted cash flow
techniques.
Where discounted cash flow techniques are used, estimated future cash flows are based on management’s best estimates
and the discount rate is a market related rate for a similar instrument at the reporting date. Where other pricing models are
used, inputs are based on market related data at the reporting date.
Borrowings
The fair values of borrowings which reprice within one year of reporting date were assumed to equate the carrying value.
All other borrowings are calculated using discounted cash flow models based on the present value of future principal and
interest cash flows, discounted at the market rate at the reporting date.
Amounts due from subsidiaries (non-current)

Non-current amounts due from subsidiaries are calculated using discounted cash flow model based on the present value
of future principal and interest cash flows, discounted at the market rate at the reporting date.
Available-for-sale quoted equity securities

The carrying amount of the available-for-sale financial assets approximates its fair value.
Other financial assets and liabilities

The carrying amounts of financial assets and liabilities with maturity of less than one year (including trade and other
receivables, cash and cash equivalents, and trade and other payables) are assumed to approximate their fair values.
Interest rates used in determining fair values

The Group and the Company use the interbank swap yield as of year end plus an adequate constant credit spread to
discount financial instruments. The interest rates used are as follows:
2016 2015
% per annum % per annum
Derivatives 0.86 0.86 – 1.45


Fair value hierarchy
The table below analyses financial instruments carried at fair value, by valuation method. The different levels have been
defined as follows:
Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from prices).
Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The following table represents the assets and liabilities measured at fair value, using Level 1 and Level 2 valuation methods,
at reporting date:
Group and Company
Fair value 2016 2015
level $m $m
Financial assets
Mark-to-market financial instruments
– Forward exchange contracts 2 5.4 1.2
– Interest rate swaps 2 – 0.8
Available-for-sale financial assets 1 40.0 –
There were no transfers between level 1 and 2 in 2016 and 2015.
32 Capital Management
The Group regularly reviews its financial position, capital structure and use of capital, with the objective of achieving
long-term capital efficiency, optimum shareholders’ total returns, including the level of dividends, and appropriate
strategic positioning.
Financials
From time to time, the Group may purchase its own shares on the market; the timing of these purchases depends on
market prices. Such share purchases are intended to be used for issuing shares under the StarHub Performance Share Plan
and StarHub Restricted Stock Plan programmes. Other than for such specific purposes, the Group does not have a defined
share buy-back plan.
The Group manages the use of capital centrally and all borrowings to fund the operations of the subsidiaries are managed
by the Company. The capital employed by the Company consists of equity attributable to shareholders, bank borrowings
from financial institutions and medium term note issued.
The Group is not subject to any externally imposed capital requirement.
There were no changes in the Group’s approach to capital management during the year.

33 Commitments
(a) Capital and other financial commitments
Group Company
2016 2015 2016 2015
$m $m $m $m
Contracted and not provided for in the financial statements:

– Capital expenditures 182.8 285.4 95.7 103.5
– Other operating expenditures 450.2 279.0 – –
633.0 564.4 95.7 103.5
As at 31 December 2016, the Group has outstanding capital and other financial commitments with related companies
amounting to $12.5 million (2015: $10.2 million), which has been included above.
Included in the capital expenditures contracted by the Company is an amount of approximately $0.2 million
(2015: $1.5 million) which has been entered into on behalf of its subsidiaries.
(b) Operating leases

Future minimum lease payments under non-cancellable operating leases are as follows:
Group Company
2016 2015 2016 2015
$m $m $m $m
Payable
– Within 1 year 60.1 98.8 44.3 60.9
– Within 2 to 5 years 90.4 106.1 80.1 83.1
– After 5 years 190.7 210.5 190.7 210.4
341.2 415.4 315.1 354.5
As at 31 December 2016, the Group has outstanding operating lease commitments with related companies amounting to
$219.4 million (2015: $277.6 million), which has been included above.
Included in the operating lease commitment of the Company is $7.0 million (2015: $7.0 million) which is contracted on
behalf of a subsidiary.
The operating leases include lease of premises and network infrastructure. The leases have varying terms and renewal rights.
34 Subsequent Event
The directors have proposed a final dividend of $0.05 (2015: $0.05) per share, tax exempt (one tier), totalling $86.4 million
(2015: $86.5 million) in respect of the financial year ended 31 December 2016. This proposed final tax exempt dividend has
not been recognised as at year end and will be submitted for shareholders’ approval at the forthcoming Annual General
Meeting of the Company in 2017.
Interested Person Transactions and Material Contracts

(Pursuant to SGX-ST Listing Manual Rule 907 and Rule 1207(8))
Aggregate value of all Aggregate value of all

interested person transactions interested person transactions
conducted under a Shareholders’ (excluding transactions less than
Mandate pursuant to Rule 920 $100,000 and transactions conducted
of the SGX-ST Listing Manual under a Shareholders’ Mandate
(excluding transactions pursuant to Rule 920 of the
less than $100,000) SGX-ST Listing Manual)
1 January 2016 to 1 January 2016 to
31 December 2016 31 December 2016
$m $m
Transactions for the Sale of Goods & Services

CapitaLand Limited & its associates 0.4 –
SATS Ltd. & its associates 0.1 –
Singapore Airlines Limited & its associates 0.2 –
Singapore Technologies Engineering Ltd & its associates 1.7 –
Singapore Telecommunications Limited & its associates 23.7 –
TeleChoice International Ltd & its associates 114.2 –
Temasek Holdings (Private) Limited & its associates
(other than those disclosed above) 3.4 –
143.7 –
Transactions for the Purchase of Goods & Services

CapitaLand Limited & its associates 5.9 –
Refinery Media Pte Ltd – 0.9
SembCorp Industries Ltd & its associates 0.2 –
Singapore Power Limited & its associates 25.6 –
Singapore Technologies Engineering Ltd & its associates 5.3 –
Singapore Telecommunications Limited & its associates 69.3 –
TeleChoice International Ltd & its associates 238.6 –
Temasek Holdings (Private) Limited & its associates
(other than those disclosed above) 15.0 –
359.9 0.9
Financials
Provision of shareholder loans and security for debt financing
SHINE Systems Assets Pte. Ltd. – 62.8
– 62.8
Receipt of shareholder loans

STT APDC Pte. Ltd. – 1.0
– 1.0
During the financial year ended 31 December 2016, no material contracts were entered into by StarHub Ltd or any of its
subsidiaries involving the interests of the CEO, any Director or controlling shareholder pursuant to Rule 1207(8) of the SGX-ST
Listing Manual.
Shareholding Information
As at 22 February 2017
Class of shares : Ordinary share

Voting rights : One vote per share
Total number of issued shares excluding treasury shares : 1,728,452,537
Total number of treasury shares held : 3,198,906
Percentage of treasury shares held against the total number of : 0.19%
issued shares excluding treasury shares
Distribution of shareholdings
Size of shareholdings No. of shareholders % of shareholders No. of shares % of issued share capital
1 – 99 152 0.62 6,007 0.00

100 – 1,000 4,630 18.90 3,849,912 0.22
1,001 – 10,000 16,086 65.66 70,130,151 4.05
10,001 – 1,000,000 3,600 14.70 129,471,415 7.48
1,000,001 and above 29 0.12 1,528,193,958 88.25
Total 24,497 100.00 1,731,651,443 100.00
Substantial shareholders
Number of shares
Name Direct interest Deemed interest % of issued share capital (5)
Temasek Holdings (Private) Limited – 977,314,814 (1) 56.54

Singapore Technologies Telemedia Pte Ltd – 965,845,290 (2) 55.88
STT Communications Ltd – 965,845,290 (2) 55.88
Asia Mobile Holding Company Pte. Ltd. – 965,845,290 (2) 55.88
Asia Mobile Holdings Pte. Ltd. 965,845,290 – 55.88
Ooredoo Q.S.C. – 965,845,290 (3) 55.88
Ooredoo Investment Holding S.P.C. – 965,845,290 (3) 55.88
Nippon Telegraph and Telephone Corporation – 171,490,520 (4) 9.92
NTT Communications Corporation 171,490,520 – 9.92
Notes:
(1)
Temasek Holdings (Private) Limited (Temasek) is deemed to have an interest in 977,314,814 shares of StarHub in which Singapore Technologies Telemedia Pte Ltd
group and other associated companies of Temasek have direct or deemed interests.
(2)
ST Telemedia is deemed to have an interest in 965,845,290 shares of StarHub held by Asia Mobile Holdings Pte. Ltd. (AMH), a subsidiary of Asia Mobile Holding
Company Pte. Ltd. (AMHC), which is in turn a wholly-owned subsidiary of STT Communications Ltd, a wholly-owned subsidiary of ST Telemedia. AMHC holds
approximately 75% of the total issued share capital of AMH.
(3)
Ooredoo Investment Holdings S.P.C. (OIH) and Ooredoo Q.S.C. (Ooredoo) are deemed to have an interest in 965,845,290 shares of StarHub held by AMH.
QIH holds approximately 25% of the total issued share capital of AMH. QIH is a wholly-owned subsidiary of Ooredoo.
(4)
Nippon Telegraph and Telephone Corporation (NTT) is deemed to have an interest in 171,490,520 shares of StarHub held by NTT Communications Corporation,
a wholly-owned subsidiary of NTT.
(5)
The shareholding percentage is based on the number of issued shares of StarHub excluding treasury shares.
Twenty largest shareholders

No. Name of shareholder Number of shares held % of issued share capital (1)
1 Asia Mobile Holdings Pte. Ltd. 965,845,290 55.88

2 NTT Communications Corporation 171,490,520 9.92
3 Citibank Nominees Singapore Pte Ltd 112,718,300 6.52
4 DBS Nominees Pte Ltd 91,357,670 5.29
5 HSBC (Singapore) Nominees Pte Ltd 59,070,589 3.42
6 DBSN Services Pte Ltd 32,354,622 1.87
7 Raffles Nominees (Pte) Ltd 22,702,329 1.32
8 United Overseas Bank Nominees Pte Ltd 11,103,550 0.64
9 Singapore Press Holdings Limited 10,411,230 0.60
10 BNP Paribas Securities Services 7,107,140 0.41
11 OCBC Nominees Singapore Pte Ltd 4,494,642 0.26
12 DB Nominees (Singapore) Pte Ltd 4,308,257 0.25
13 Yeo Kok Pin 3,544,000 0.21
14 Chen Chun Nan 3,350,000 0.19
15 Societe Generale Singapore Branch 3,076,399 0.18
16 OCBC Securities Private Ltd 3,007,657 0.17
17 Phillip Securities Pte Ltd 2,691,040 0.16
18 DBS Vickers Securities (Singapore) Pte Ltd 1,802,990 0.10
19 Montefiore Neil 1,619,440 0.09
20 Maybank Kim Eng Securities Pte Ltd 1,551,986 0.09
Total 1,513,607,651 87.57
The shareholding percentage is based on the number of issued shares of StarHub excluding treasury shares.
(1)
Shareholding held in hands of the public

Based on the information available to StarHub as at 22 February 2017, approximately 33.40% of the total number of issued shares
(excluding treasury shares) of StarHub was held by the public. Accordingly, StarHub has complied with Rule 723 of the SGX-ST
Listing Manual.
Notice of Nineteenth Annual General Meeting

STARHUB LTD
(Incorporated in the Republic of Singapore)
Co. Reg. No. 199802208C
NOTICE IS HEREBY GIVEN that the Nineteenth Annual General Meeting of the Company will be held at Summit 1 (via Meeting
Room 321), Level 3, Suntec Singapore Convention & Exhibition Centre, 1 Raffles Boulevard, Suntec City, Singapore 039593
on 12 April 2017 at 10.00 a.m. for the following purposes:
Ordinary Business
1 To receive and adopt the Directors’ Statement and the Audited Financial Statements for the financial year Resolution 1
ended 31 December 2016 and the Auditors’ Report therein.
2 To re-elect Mr Stephen Geoffrey Miller as a Director pursuant to Article 99 of the Company’s Resolution 2
Constitution and who, being eligible, will offer himself for re-election.
The profile of Mr Miller can be found in the Board of Directors section of the StarHub Ltd
Annual Report 2016.
3 To re-elect the following Directors, each of whom will retire and who, being eligible, will offer
themselves for re-election:
(a) Mr Teo Ek Tor; and Resolution 3
(b) Mr Lim Ming Seong (non-independent member of Audit Committee). Resolution 4
The profiles of Mr Teo and Mr Lim can be found in the Board of Directors section of the StarHub Ltd
Annual Report 2016.
4 To approve the sum of S$1,727,857.00 (FY2015: S$1,699,428.00) as Directors’ Remuneration for the Resolution 5
financial year ended 31 December 2016 comprising:
(a) S$1,226,929.90 to be paid in cash (FY2015: S$1,227,681.00); and
(b) S$500,927.10 to be paid in the form of restricted share awards (FY2015: S$471,747.00).
5 To declare a final dividend of five cents per ordinary share for the financial year ended Resolution 6
31 December 2016.
6 To re-appoint KPMG LLP as Auditors of the Company and to authorise the Directors to fix Resolution 7
their remuneration.
Special Business
To consider and if thought fit, to pass the following resolutions which will be proposed as Ordinary Resolutions:
7 That authority be and is hereby given to the Directors to: Resolution 8
(a) (i) issue shares of the Company (“shares”) whether by way of rights, bonus or otherwise;
and/or
(ii) make or grant offers, agreements or options (collectively, “Instruments”) that might or
would require shares to be issued, including but not limited to the creation and issue of
(as well as adjustments to) warrants, debentures or other instruments convertible
into shares,
at any time and upon such terms and conditions and for such purposes and to such persons as the
Directors may in their absolute discretion deem fit; and
(b) (notwithstanding the authority conferred by this Resolution may have ceased to be in force) issue
shares in pursuance of any Instrument made or granted by the Directors while this Resolution was
in force,
provided that:
(1) the aggregate number of shares to be issued pursuant to this Resolution (including shares to be
issued in pursuance of Instruments made or granted pursuant to this Resolution) does not exceed
50% of the total number of issued shares (excluding treasury shares) (as calculated in accordance
with subparagraph (2) below), of which the aggregate number of shares to be issued other than
on a pro rata basis to shareholders of the Company (including shares to be issued in pursuance of
Instruments made or granted pursuant to this Resolution) does not exceed 15% of the total
number of issued shares (excluding treasury shares) (as calculated in accordance with
subparagraph (2) below);
(2) (subject to such manner of calculation as may be prescribed by the Singapore Exchange Securities
Trading Limited (“SGX-ST”)) for the purpose of determining the aggregate number of shares that
may be issued under subparagraph (1) above, the total number of issued shares (excluding treasury
shares) shall be based on the total number of issued shares (excluding treasury shares), at the time
this Resolution is passed, after adjusting for:
(i) new shares arising from the conversion or exercise of any convertible securities or share
options or vesting of share awards which are outstanding or subsisting at the time this
Resolution is passed; and
(ii) any subsequent bonus issue, consolidation or subdivision of shares;
(3) in exercising the authority conferred by this Resolution, the Company shall comply with the
provisions of the Listing Manual of the SGX-ST for the time being in force (unless such compliance
has been waived by the SGX-ST) and the Constitution for the time being of the Company; and
(4) (unless revoked or varied by the Company in General Meeting) the authority conferred by this
Resolution shall continue in force until the conclusion of the next Annual General Meeting of the
Company or the date by which the next Annual General Meeting of the Company is required by
law to be held, whichever is the earlier.
Notice of Nineteenth Annual General Meeting
8 That authority be and is hereby given to the Directors to: Resolution 9
(a) offer and grant awards in accordance with the provisions of the StarHub Performance Share
Plan 2014 (the “PSP 2014”) and/or the StarHub Restricted Stock Plan 2014 (the “RSP 2014”)
(the PSP 2014 and the RSP 2014, together the “Share Plans”); and
(b) allot and issue from time to time such number of ordinary shares as may be required to be
allotted and issued pursuant to the vesting of awards granted under the Share Plans,
provided that the aggregate number of ordinary shares allotted and issued under the Share Plans shall
not exceed the limits specified in the rules of the Share Plans.
9 To transact such other business as may be transacted at an Annual General Meeting of the Company.
By Order of the Board
Veronica Lai
Company Secretary
Singapore, 21 March 2017
Notes:
1. (a) A member who is not a relevant intermediary is entitled to appoint not more than two proxies to attend, speak and vote at the Annual General Meeting.
Where such member’s form of proxy appoints more than one proxy, the proportion of the shareholding concerned to be represented by each proxy shall be
specified in the form of proxy.
(b) A member who is a relevant intermediary is entitled to appoint more than two proxies to attend, speak and vote at the Annual General Meeting, but each
proxy must be appointed to exercise the rights attached to a different share or shares held by such member. Where such member’s form of proxy appoints
more than two proxies, the number and class of shares in relation to which each proxy has been appointed shall be specified in the form of proxy.
“Relevant intermediary” has the meaning ascribed to it in Section 181 of the Companies Act, Cap. 50 of Singapore.
2. A proxy need not be a member of the Company.
3. The instrument appointing a proxy or proxies (a form is enclosed) must be lodged at the office of the Share Registrar of the Company, M & C Services Private
Limited, at 112 Robinson Road, #05-01, Singapore 068902 (Attn: The Share Registrar) not less than 72 hours before the time appointed for the Annual General
Meeting. Completion and return of the instrument appointing a proxy or proxies shall not preclude a member from attending and voting at the Annual General
Meeting. In such event, the relevant instrument appointing a proxy or proxies will be deemed to be revoked.
Explanatory Notes:
Resolution 5
Resolution 5 is to approve the payment of an aggregate sum of S$1,727,857.00, as Directors’ remuneration for the non-executive Directors of the Company (including
Mr Robert J. Sachs who resigned as a non-executive Director and ceased to be a member of the Strategy Committee on 30 December 2016, Mr Peter Seah Lim Huat
who resigned as a non-executive Director and ceased to be the Chairman of the Nominating Committee (“NC”) and the Executive Resource and Compensation
Committee (“ERCC”) on 1 January 2017, and Mr Sio Tat Hiang who resigned as a non-executive Director and ceased to be a Member of the NC, ERCC and Risk
Committee on 1 January 2017) for the financial year ended 31 December 2016. If approved, each of the non-executive Directors will receive 70% of his Directors’
remuneration in cash and (with the exception of Mr Takeshi Kazami) 30% of his Directors’ remuneration in the form of a restricted share award. Mr Takeshi Kazami
has declined the restricted share award grant and will only receive the cash component of his remuneration. See the section on “2. Remuneration Matters” in the
Corporate Governance section of the Annual Report 2016 for the rationale in relation to the shares component of the non-executive Directors’ remuneration. The
number of shares to be awarded will be based on the volume weighted average price of a share in the Company listed on the SGX-ST over the 14 trading days
commencing on the ex-dividend date that immediately follows the Annual General Meeting. The number of shares to be awarded will be rounded down to the
nearest hundred, with cash to be paid in lieu of the remaining shares arising. The restricted share awards will consist of the grant of fully paid shares, without any
performance or vesting conditions attached. However, in order to encourage alignment of the interests of the Directors with the interests of shareholders,
non-executive Directors who received the aforesaid restricted share award are required to hold shares worth at least (a) the prevailing annual basic retainer fee, or
(b) the aggregate of (i) the total number of shares awarded as part of their remuneration for the financial year ended 31 December 2011 and each subsequent financial
year thereafter and (ii) 50% of the total number of shares awarded from the financial year ended 31 December 2007 to the financial year ended 31 December 2010,
whichever is lower. Non-executive Directors can dispose of all their shares one year after ceasing to be a Director.
Resolution 8
Resolution 8 is to empower the Directors to issue shares and to make or grant instruments (such as warrants or debentures) convertible into shares, and to issue
shares in pursuance of such instruments, up to a number not exceeding in total 50% of the total number of issued shares (excluding treasury shares), with a sub-limit
of 15% for issues other than on a pro rata basis to shareholders. For the purpose of determining the aggregate number of shares that may be issued, the total number
of issued shares (excluding treasury shares) shall be based on the total number of issued shares (excluding treasury shares) at the time that Resolution 8 is passed, after
adjusting for (a) new shares arising from the conversion or exercise of any convertible securities or share options or vesting of share awards which are outstanding or
subsisting at the time that Resolution 8 is passed, and (b) any subsequent bonus issue, consolidation or subdivision of shares.
Resolution 9
Resolution 9 is to empower the Directors to offer and grant awards and to allot and issue ordinary shares pursuant to the Share Plans provided that the aggregate
number of ordinary shares allotted and issued under the Share Plans shall not exceed the limits specified in the rules of the Share Plans. Approval for the adoption of
the Share Plans was given by shareholders at an Extraordinary General Meeting of the Company held on 14 April 2014. The grant of awards under the respective Share
Plans will be made in accordance with their respective provisions.
NOTICE OF BOOKS CLOSURE AND FINAL DIVIDEND PAYMENT DATE

Notice is hereby given that, subject to the approval of the shareholders to the final dividend at the Nineteenth Annual General
Meeting, the Register of Members and the Transfer Books of the Company will be closed on 20 April 2017.
Duly completed registrable transfers received by the Company’s share registrar, M & C Services Private Limited, 112 Robinson
Road, #05-01, Singapore 068902 up to the close of business at 5.00 p.m. on 19 April 2017 (“Entitlement Date”) will be registered
to determine members’ entitlements to the final dividend. Subject as aforesaid, persons whose securities accounts with The
Central Depository (Pte) Limited are credited with ordinary shares as at 5.00 p.m. on the Entitlement Date will be entitled to the
final dividend.
The final dividend, if so approved by shareholders, will be paid on 3 May 2017.
Personal data privacy:
By submitting an instrument appointing a proxy(ies) and/or representative(s) to attend, speak and vote at the Annual General Meeting and/or any adjournment thereof,
a member of the Company (i) consents to the collection, use and disclosure of the member’s personal data by the Company (or its agents or service providers)
for the purpose of the processing, administration and analysis by the Company (or its agents or service providers) of proxies and representatives appointed for the
Annual General Meeting (including any adjournment thereof) and the preparation and compilation of the attendance lists, minutes and other documents relating to
the Annual General Meeting (including any adjournment thereof), and in order for the Company (or its agents or service providers) to comply with any applicable
laws, listing rules, take-over rules, regulations and/or guidelines (collectively, the “Purposes”), (ii) warrants that where the member discloses the personal data of
the member’s proxy(ies) and/or representative(s) to the Company (or its agents or service providers), the member has obtained the prior consent of such proxy(ies)
and/or representative(s) for the collection, use and disclosure by the Company (or its agents or service providers) of the personal data of such proxy(ies) and/or
representative(s) for the Purposes, and (iii) agrees that the member will indemnify the Company in respect of any penalties, liabilities, claims, demands, losses and
damages as a result of the member’s breach of warranty.
Corporate Information
Board of Directors Executive Resource and Auditors

Steven Terrell CLONTZ (Chairman) Compensation Committee KPMG LLP
TAN Tong Hai (CEO) TEO Ek Tor (Chairman) Public Accountants and Chartered
MA Kah Woh Stephen Geoffrey MILLER Accountants
Nihal Vijaya Devadas KAVIRATNE CBE LIM Ming Seong 16 Raffles Quay #22-00
Rachel ENG Yaag Ngee Hong Leong Building
TEO Ek Tor Risk Committee Singapore 048581
Stephen Geoffrey MILLER Stephen Geoffrey MILLER (Chairman) Partner-in-charge: ONG Chai Yan
LIM Ming Seong TAN Tong Hai (appointed w.e.f. 1 January 2016)
LIU Chee Ming MA Kah Woh
Nasser MARAFIH Subsidiaries
Takeshi KAZAMI Company Secretaries StarHub Mobile Pte Ltd
Veronica LAI Kwai-Yi StarHub Cable Vision Ltd.
Audit Committee KONG Pooi Foong StarHub Internet Pte Ltd
MA Kah Woh (Chairman) StarHub Online Pte Ltd
Nihal Vijaya Devadas KAVIRATNE CBE Registration Number StarHub Shop Pte Ltd
Rachel ENG Yaag Ngee 199802208C StarHub, Inc.
LIM Ming Seong StarHub (Hong Kong) Limited
Registered Address StarHub (Mauritius) Ltd
Strategy Committee 67 Ubi Avenue 1 Nucleus Connect Pte. Ltd.
Nihal Vijaya Devadas KAVIRATNE CBE #05-01 StarHub Green
(Chairman) Singapore 408942 Associate
Steven Terrell CLONTZ Tel : (65) 6825 5000 SHINE Systems Assets Pte. Ltd.
Stephen Geoffrey MILLER Fax : (65) 6721 5000
LIM Ming Seong Investor Relations
LIU Chee Ming Share Registrar For enquiries on the Group’s business
Nikhil O. J. EAPEN M & C Services Private Limited performance, contact the Investor
112 Robinson Road #05-01 Relations team at email: [email protected]
Nominating Committee Singapore 068902
Rachel ENG Yaag Ngee (Chairman)
Steven Terrell CLONTZ
TEO Ek Tor
All rights reserved. Some of the information in this report constitute “forward looking statements” which reflect StarHub’s current intentions, plans, expectations,
assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which may be outside StarHub’s control. You are urged
to view all forward looking statements with caution. No information herein should be reproduced without the express written permission of StarHub. All information
herein are correct at the time of publication. For updated information, please contact our Corporate Office.
IMPORTANT
Proxy Form 1. Relevant intermediaries as defined in Section 181 of the Companies Act, Cap 50
of Singapore, may appoint more than two proxies to attend, speak and vote at the
Nineteenth Annual General Meeting Annual General Meeting.
STARHUB LTD 2. For CPF/SRS investors who have used their CPF/SRS moneys to buy StarHub Ltd
(Incorporated in the Republic of Singapore) shares, this form of proxy is not valid for use and shall be ineffective for all intents
and purposes if used or purported to be used by them. CPF/SRS investors should
Co. Reg. No. 199802208C contact their respective Agent Banks/SRS Operators if they have any queries
regarding their appointment as proxies.
3. By submitting an instrument appointing a proxy(ies) and/or representative(s), the
member accepts and agrees to the personal data privacy terms set out in the
Notice of the Nineteenth Annual General Meeting dated 21 March 2017.
I/We, NRIC/Passport/Co. Reg. No.
of (Address)
being a member/members of StarHub Ltd (the “Company”) hereby appoint:
NRIC/Passport Proportion of
Name Address
Number Shareholdings (%)
and/or (delete as appropriate)
as my/our proxy/proxies to attend, speak and vote for me/us and on my/our behalf at the Annual General Meeting (“AGM”)
of the Company to be held at Summit 1 (via Meeting Room 321), Level 3, Suntec Singapore Convention & Exhibition Centre,
1 Raffles Boulevard, Suntec City, Singapore 039593 on 12 April 2017 at 10.00 a.m. and at any adjournment thereof.
I/We direct my/our proxy/proxies to vote for or against the Resolutions to be proposed at the AGM as indicated hereunder.
In the absence of specific directions, the proxy/proxies will vote or abstain as he/they may think fit, as he/they will on any
other matter arising at the AGM and at any adjournment thereof.
No. Resolutions For * Against *

Ordinary Business
1 To receive and adopt the Directors’ Statement and the Audited Financial Statements and the
Auditors’ Report therein
2 To re-elect Mr Stephen Geoffrey Miller as Director
3 To re-elect Mr Teo Ek Tor as Director
4 To re-elect Mr Lim Ming Seong as Director
5 To approve the Directors’ Remuneration
6 To declare the Final Dividend
7 To re-appoint KPMG LLP as Auditors and to authorise the Directors to fix their remuneration
Special Business
8 To authorise Directors to allot and issue shares
9 To authorise Directors to offer and grant awards and to allot and issue shares pursuant to, and
subject to the limits specified in, the StarHub Performance Share Plan 2014 and the StarHub
Restricted Stock Plan 2014
* If you wish to exercise all your votes “For” or “Against” the relevant Resolution, please tick (√) within the relevant box provided. Alternatively, if you wish to exercise
your votes both “For” and “Against” the relevant Resolution, please indicate the number of Shares in the boxes provided.
* Voting will be conducted by poll.
Dated this day of 2017.

Total Number of Shares Held
Signature(s) or Common Seal of members

IMPORTANT: PLEASE READ NOTES OVERLEAF
3rd fold here & fold flap
Affix
Postage
Stamp
STARHUB LTD
112 Robinson Road
#05-01
Singapore 068902
Attn: The Share Registrar
2nd fold here
Notes:
1. Please insert the total number of shares held by you. If you have shares entered against your name in the Depository Register (maintained by The
Central Depository (Pte) Limited), you should insert that number of shares. If you only have shares registered in your name in the Register of Members
(maintained by or on behalf of the Company), you should insert that number of shares. If you have shares entered against your name in the Depository
Register and shares registered in your name in the Register of Members, you should insert the aggregate number of shares. If no number is inserted, the
instrument appointing a proxy or proxies shall be deemed to relate to all the shares held by you.
2. (a) A member who is not a relevant intermediary is entitled to appoint not more than two proxies to attend, speak and vote at the meeting. Where such
member’s form of proxy appoints more than one proxy, the proportion of the shareholding concerned to be represented by each proxy shall be
specified in the form of proxy.
(b) A member who is a relevant intermediary is entitled to appoint more than two proxies to attend, speak and vote at the meeting, but each proxy must
be appointed to exercise the rights attached to a different share or shares held by such member. Where such member’s form of proxy appoints
more than two proxies, the number and class of shares in relation to which each proxy has been appointed shall be specified in the form of proxy.
“Relevant intermediary” has the meaning ascribed to it in Section 181 of the Companies Act, Cap. 50 of Singapore.
3. A proxy need not be a member of the Company.
4. The instrument appointing a proxy or proxies must be deposited at the office of the Share Registrar of the Company, M & C Services Private Limited,
at 112 Robinson Road, #05-01, Singapore 068902, not less than 72 hours before the time appointed for the Annual General Meeting. Completion and
return of the instrument appointing a proxy or proxies shall not preclude a member from attending and voting at the meeting. In such event, the relevant
instrument appointing a proxy or proxies will be deemed to be revoked.
5. The instrument appointing a proxy or proxies must be under the hand of the appointor or of his attorney duly authorised in writing. Where the
instrument appointing a proxy or proxies is executed by a corporation, it must be executed either under its seal or under the hand of an officer or
attorney duly authorised. Where an instrument appointing a proxy is signed on behalf of the appointor by an attorney, the letter or power of attorney or
a duly certified copy thereof must (failing previous registration with the Company) be lodged with the instrument of proxy, failing which the instrument
may be treated as invalid.
6. A corporation which is a member may authorise by resolution of its directors or other governing body such person as it thinks fit to act as its
representative at the Annual General Meeting, in accordance with Section 179 of the Companies Act, Cap. 50 of Singapore.
7. The Company shall be entitled to reject the instrument appointing a proxy or proxies if it is incomplete, improperly completed or illegible or where
the true intentions of the appointor are not ascertainable from the instructions of the appointor specified in the instrument (including any related
attachment) appointing a proxy or proxies. In addition, in the case of a member whose shares are entered against his name in the Depository Register,
the Company may reject any instrument appointing a proxy or proxies lodged if the member, being the appointor, is not shown to have shares entered
against his name in the Depository Register 72 hours before the time appointed for holding the Annual General Meeting as certified by The Central
Depository (Pte) Limited to the Company.
1st fold here

A BIG Thank You! To the below StarHubbers & their little one who in no small part,
have made this annual report a more vibrant and colourful one with
their bright smiles and warm personalities.
Chris Tan Rod Strother

Acquires sports content for Pay TV. A man of simple pleasures who’s
Plays a mean game of golf & cooks. developing our Digital Transformation
footprints. Loves football & his three furkids.
Rayana Pandey
Responsible for overall content strategy Nicole Ong
& includes managing the C-suite’s Leads the social media team. Loves traveling
presence on social. off the beaten track and a good latte.
LOCATION: LOCATION: LOCATION: LOCATION:

StarHub Retail Store Call Centre Homes Curiousity Hub
Plaza Singapore Branch Tai Seng Islandwide StarHub Green
Chai Juan Wei Mycar C. Jen Hong Elias Khan Nicolas Bureau Nicholas Chee
A Shop senior Taboada From Frontline Training A senior eCommerce An eCommerce & A Corporate
consultant As a Hubbing who identify gaps for Analyst who looks after Online Lead who Counsel who
who ensures the consultant, she’s existing operational the analytics section of provides a delightful when not assisting
highest quality of role-playing as process & recommends the online store, providing online experience with legal matters
customer service a customer to new processes and actionable insights and for customers and for our business
is provided at understand their assist in developing helping stakeholders to increase the online units, is into running,
all times. pain points. process flowcharts. make data-driven decision adoption for sales and movies & good wine.
to improve business. post-sales transactions.
Vida Z. Rosel Adrian Siew Guo Jiawei Ethan Koh Maria Kolesnikova

Floor Manager, Retail Shop Hub Trooper IP System Engineer Young Hubber SEO Manager
“Managing the shop operations “I’m a die-hard soccer fan “I love challenges and “I’m the one who watches the “I oversee the marketing and
& coaching consultants keeps & loves outdoor sports. competitive activities; both most StarHub TV programmes development efforts for natural
me busy. At home, I love Reading tech news puts a smile physical & mental. Music and at home. I also love the fast search. Outside of work, I’m
to bake while listening to on my face too.” fitness bust my grooves too.” speeds on StarHub fibre on a journey to discover how
alternative music.” broadband to access my to feel great through yoga,
favourite apps & follow rugby meditation & healthy nutrition.”
and golf games.”
Shareholders’ Feedback
If you would like to give us any feedback on this year’s Annual Report, please send your written comments to our
investor relations team at StarHub Ltd 67 Ubi Ave 1, #05-01 StarHub Green, S(408942) or email to [email protected]
Inspired by Sedgwick Richardson

Thank You!
StarHub Ltd
Reg. No.: 199802208C
67 Ubi Avenue 1, #05-01 StarHub Green, Singapore 408942
T 6825 5000 F 6721 5000
www.starhub.com

StarHub LTD Annual Report 2016

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Hubbing

2016 Annual Report

Performance Financials Others

Dividend Cumulative Total Market Capitalisation

StarHub Share Price Performance Against STI Index

1,000 StarHub StarHub

The Group Today

From 2013’s $1.24b

CAGR: Tiered 68%

* % may not add up due to rounding.

From 2013’s $242m

CAGR: > 100Mbps 93%

From 2013’s $368m

CAGR: Data & Internet 87%

5-Year Financial Highlights

Revenue Earnings EBITDA Margin

2012 2,434 2012 21.4 2012 33

2013 2,370 2013 22.0 2013 33

2014 2,387 2014 21.4 2014 34

2015 2,444 2015 21.4 2015 32

2016 2,397 2016 19.7 2016 31

* Excluding treasury shares.

Single Service Household Double Service Household Triple Service Household

+3.2% YoY -3.2% YoY -4.1% YoY

2012 337 2012 232 2012 214

2013 327 2013 219 2013 227

2014 313 2014 219 2014 242

2015 312 2015 217 2015 245

2016 322 2016 210 2016 235

2012 2013 2014 2015 2016

2012 2013 2014 2015 2016

2012 2013 2014 2015 2016

2012 2013 2014 2015 2016

We have a system that does

We have an e-Butler tool

Call Centre handles over 520

calls everyday knowledge, they have

We aim to evolve along

AN EYE FOR DETAIL.

Service Revenue Mix

We will stay focused on delivering reliable services, ensuring

Dear Shareholders, Sustainability Reporting

$2.40b in 2016. Our 16-year journey has been

$341.4m Looking ahead, we do not see that rapid

Recap networks. Indeed, almost every industry

2016 At StarHub, we have always been quick to

Looking Ahead StarHub’s Broadband revenue has seen steady Although

We are happy to report that we have made

Mobile Pay TV Broadband

Corporate Governance Mr Miller, a former investment banker, joined

Steven Terrell Clontz

What Consumers Want & How We Respond

Pick from over

integrated radio access residence, etc media profile, etc.

We use the NPS closed loop framework to help gauge

NORMALISATION Personalisation + Differentiation

How likely are you to recommend us to your friends?

Promoter Passive Detractor

DISTRIBUTION: We are now in an omni-channel environment.