Singtel venture expands Philippine tech workforce to 1,200

SINGAPORE – Singtel Group is expanding its technology footprint in the Philippines through NCS Philippines, a joint venture between its technology services arm, NCS, and Globe Telecom’s technology solutions subsidiary, Yondu.

The venture has an enterprise value of PHP 1.87 billion, or about USD 30 million, and has increased NCS’ Philippine workforce from 150 to more than 1,200 professionals.

The expansion strengthens the country’s capabilities in digital services, cloud computing, artificial intelligence, cybersecurity, data analytics and software engineering while positioning the Philippines as a delivery hub for global technology services.

NCS announced the transaction in March 2025, with its wholly owned subsidiary, NCSI Holdings, acquiring a 51% stake in Yondu.

NCS said Yondu had a post-transaction enterprise value of PHP 1.868 billion, while the net consideration was PHP 134 million, subject to net cash and debt adjustments.

The expansion was highlighted during a meeting between President Ferdinand Marcos Jr. and senior business executives during the president’s working visit to Singapore.

The meeting was attended by Singtel Group CEO Yuen Kuan Moon, Globe Telecom CEO Carl Cruz and Ayala Corp. Vice Chairman Fernando Zobel de Ayala.

Singtel executives reiterated the group’s long-term commitment to the Philippines and its continued support for Globe, which is investing in telecommunications infrastructure needed by the country’s growing digital economy.

Through NCS Philippines, the group is focusing on developing Filipino technology professionals in AI, cloud computing, cybersecurity, data analytics and software engineering.

The expansion also supports the government’s goal of preparing the local workforce for higher-value jobs and growing global demand for digital services.

Department of Trade and Industry Secretary Cristina A. Roque said Singtel’s continued presence reflected Singaporean investors’ confidence in the Philippine economy.

“We highly value Singtel’s continued trust and investment in the Philippines. The growth of NCS Philippines from a boutique team to a 1,200-strong tech workforce is a prime example of how international partnerships can create high-value, quality jobs for our IT professionals. The DTI remains fully committed to supporting Singtel and its partners as they drive digital transformation and technological innovation in the country,” she added.

The development aligns with the Marcos administration’s digital transformation and investment agenda.

The government cited the CREATE MORE Act, the Strategic Investment Priority Plan and the Konektadong Pinoy Act as reforms intended to attract technology investments and improve the country’s business environment.

The CREATE MORE Act, or Republic Act No. 12066, revised the country’s corporate taxation and incentives system to make investment rules more competitive, predictable and accountable.

The 2026 Strategic Investment Priority Plan identifies economic activities that may qualify for fiscal incentives, including investments supporting innovation, technology development and higher-value employment.

The Konektadong Pinoy Act, or Republic Act No. 12234, established an open-access framework intended to reduce barriers to entry, encourage digital infrastructure investment and promote competition in data transmission services.