Singapore Telecommunications Ltd. might have to commit more than S$600 million ($440 million) to its joint venture with Grab Holdings Inc. that wants to start a digital bank in Singapore, according to DBS Group Holdings Ltd.
The venture “is a strong candidate for a full digital banking license,” DBS analyst Sachin Mittal wrote in the report published Tuesday. Singtel may need to make the investment over the “long term,” he said.
