True Corporation’s dynamic chief, Sigve Brekke, has hit the ground at full speed, rolling out a transformative 100-day blueprint that promises to propel the telecom giant into a new era of profit, technological leadership, and long-awaited dividends for its shareholders. Brekke, who took charge as Group Chief Executive in March, is leveraging a triumvirate of data, discipline, and dividends to ignite a revival at this telecom powerhouse after its landmark merger with dtac.
“We united two industry behemoths and intensely focused on driving performance, enforcing financial discipline, and achieving synergy,” Brekke notes. “We’ve modernized our networks and instilled AI deeply into our customer interactions.” A triumphant financial turnaround means cash is now firmly on the agenda. For the first time in over a quarter-century, True is committed to paying dividends in 2025, having finally cleared its colossal backlog of accrued losses.
Following the merger, True posted a neat 1.6 billion baht net profit after tax in Q1 2025, a stark contrast to the gloomy financials of past years. Excluding one-off items, this figure leaps to an impressive 4.3 billion baht, attributed to meticulous cost management and synergistic post-merger efficiencies.
And yet, Brekke isn’t popping open the champagne just yet. “I’m not content with our net profit or overall performance. We must elevate our standards, outpace our competitors, and raise our service levels higher,” he asserts, underscoring the ongoing pressure not just from shareholders but also market competition.
The numbers tell a tale of transformation. True’s mobile subscriber base witnessed a 638,000 dip in the first quarter—a 1.3% reduction from the previous quarter, now at 48.8 million. Despite a 4.4% year-on-year drop due to a strategic pivot toward quality over quantity, there’s a glimmer of hope: postpaid users have incremented slightly to 15.3 million, though prepaid numbers slipped by 2% to 33.5 million—figures Brekke is determined to revamp. Meanwhile, online subscribers climbed to 3.8 million, with an impressive 5G user base swelling to 14.2 million, as reported by the Bangkok Post.
On the digital horizon, Brekke has grand ambitions. True Internet Data Centre, a unit under the CP Group, has joined forces with BlackRock’s Global Infrastructure Partners to channel an ambitious US$3 to $5 billion (approximately 105–175 billion baht) into digital infrastructure. This move is part of True’s aspirations to power Thailand’s digital economy in an unparalleled way.
“Mergers are marathons, but we’ve got to sprint,” Brekke affirms. To this end, he has outlined three strategic priorities: an unyielding focus on customer satisfaction, cutting-edge technological adoption, and a highly motivated workforce. Expect more seamless integration of True and dtac systems, enhanced service centers, and a robust AI-driven network as part of this evolution.
True is also championing the AI revolution within Thailand, encouraging both enterprises and the public to fully embrace this technological wave. Internally, Brekke’s vision includes fostering a unified corporate culture where customer-centric thinking is paramount. With formidable rivals like AIS hot on their heels, Brekke’s 100-day blitz could very well determine True’s resurgence to the pinnacle of the industry.
Brekke’s plan sounds promising but focusing heavily on AI could backfire if not implemented carefully. Automation can lead to job cuts, and that could stir up unrest among employees.
True, Alex! Plus, over-reliance on AI can make companies vulnerable, especially if there’s a tech glitch.
Exactly, Sarah. AI should enhance human capability, not replace it.
The future is AI! We can’t step back just because of potential job losses. Adaptibility is key!
I love that Brekke is prioritizing shareholder dividends, but isn’t there a risk of jeopardizing long-term growth for short-term gains?
Impressive profits indeed but still worrying when their user base is shrinking. All this talk about strategic pivots might just be corporate jargon for struggles.
I agree, Lisa. Chasing ‘quantity over quality’ hasn’t always been the best approach for telecoms.
Right? And honestly, how much of this growth is sustainable post-merger if things start to plateau?
Investing in digital infrastructure is crucial! If True leads Thailand digitally, it can position them as a market leader beyond just telecom.
They might become a powerhouse in digital detailing, but that’s a crowded arena with big global players!
True, but if they can tailor their solutions specifically for the Thai market, it could give them a competitive edge.
Big talk from Brekke on tech leadership. But how about enhancing basic customer service? That’s where most telecoms fail.
Mergers bring more challenges than successes, as evidenced by their subscriber drop. Can they handle the pressure without internal friction?
Internal friction is inevitable, Olivia. The key lies in effective management and transparency.
To be fair, they’ve shown impressive financial gains already. It’s too soon to judge their long-term success.
I’m worried that Brekke’s ‘sprint’ idea might be too aggressive. Slow and steady could win the race for sustainability.
Fascinated by Brekke’s vision for a motivated workforce. However, in practice, creating a unified culture post-merger can be a nightmare.
Having worked in a company that merged, I can tell you it’s a rough ride. Culture clash is real!
Exactly, Brian! And it’s even tougher when people feel uncertain about their roles in the new structure.
This article should have emphasized more on Brekke’s past success stories. His track record is pretty solid and should inspire confidence.
Great vision, but how long before True’s competitors catch up? Expanding 5G alone won’t be enough.
Companies like AIS are pretty innovative too. True needs differentiation through more than just 5G expansion.
And that’s why customer centricity Brekke mentions is vital. It’s about creating a unique value proposition.
5 billion investment sounds huge, but is it economic sense in a volatile tech market? I have my doubts.
It’s a gamble, sure, but sometimes bold moves yield big returns. Tech isn’t going away.