StarHub's NucleusConnect to gain $100m rollout grants by 2018

But it is still a conservative forecast.

According to DBS, StarHub has already received S$100m of rollout grants over the last two years, out of which it recognises ~S$20m each year as “Other Income”. 

This “Other Income” is likely to rise sharply in FY13F onwards as more users migrate to 100Mbps broadband. StarHub’s subsidiary NucleusConnect and its partners can receive up to S$150m of adoption grants over the next five years.

"This grant relies on the number of subscribers migrating to 100 Mbps broadband connection. We conservatively estimate that NucleusConnect can receive at least S$100m (out of the S$150m grant), over the next five years, implying an additional S$20m each year," DBS said.