JUNEASIA BUSINESS OUTLOOK9SINGTEL TO AVAIL CREDIT FACILITY WORTH SGD 1.5 BILLIONTOYOTA MOTORS & DAIMLER TRUCK HOLDINGS TO MERGE TRUCK DIVISIONNEWSROOMSingapore Telecommunications Ltd said on Tuesday that its unit signed a committed revolving credit facility worth S$1.5 billion ($1.13 billion) with 11 banks for general corporate purposes.Among the banks were ANZ Group Holdings Ltd, Bank of America, and the Industrial and Commercial Bank of China, according to the Southeast Asian telecom firm.Singapore Telecommunications Limited, or Singtel, is a Singaporean telecommunications conglomerate and one of the country's four major telcos. With 4.1 million subscribers, the company is Singapore's largest mobile network operator, and through subsidiaries, it has a combined mobile subscriber base of 640 million customers as of the end of fiscal year 2017.Singtel has aggressively expanded outside of its home market, with full ownership of Australia's second largest telco Optus and 32.15 percent ownership of Bharti Airtel, India's second largest carrier.Singtel has a large market share in both Australia and Singapore, with 82 percent of the fixed-line market, 47 percent of the mobile market, and 43 percent of the broadband market. Toyota Motor Corp. and Daimler Truck Holding AG announced a non-binding agreement to merge the truck units' businesses in Japan.A holding company would be formed by combining the operations of Toyota subsidiary Hino Motors Ltd. and Daimler-owned Mitsubishi Fuso Truck and Bus Corp., according to the memorandum of understanding (MOU).The new company's shares are expected to be listed on the Tokyo Stock Exchange's Prime Market.According to sources, Daimler Truck and Toyota will each make an equal investment in the business and collaborate to develop hydrogen and other technologies related to connectivity and autonomous driving. Based on the companies, a definitive agreement will be signed in the first quarter of 2024, and the deal will be completed by the end of the following year.A committee entrusted with looking into an emissions issue at Hino, which changed its name to a Toyota affiliate in 2001, discovered last year that the truck and bus manufacturer had fabricated emissions data going as far back as 2003.At 4:30 pm, the CEOs of the four corporations will address the media jointly in Tokyo.Toyota Motor Corporation is a global Japanese automaker with its main offices in Toyota City, Aichi, Japan. Kiichiro Toyoda established it, and it became a corporation on August 28, 1937. One of the biggest automakers in the world, Toyota produces around 10 million automobiles annually.
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