Highlights

• Tuas disclosed a regulatory show cause notice issued to its Singapore mobile subsidiary, Simba Telecom, in October.

• Singapore’s communications regulator raised six allegations relating mainly to radio spectrum use and corporate compliance practices.

• Simba faced a 16 November 2026 response deadline while the regulator had yet to announce findings.

• Tuas traded higher on 11 November despite no new company announcement being lodged during that session.

A regulatory deadline now frames the next development for Tuas Limited (ASX:TUA). Its Singapore mobile subsidiary, Simba Telecom, must respond to a show cause notice as the company awaits further steps in the process.

Market Activity

Tuas shares were higher in Wednesday’s session, with ing the stock up about 3.5% at around AUD 1.50 at roughly 2:40pm AEDT on 11 November 2026, on Volume of about 0.9 million shares. The company’s most recent price-sensitive release came in late October, so the rise coincided with no new confirmed news.

Recent Developments

On 26 October 2026 (AEDT) Tuas disclosed that its Subsidiary Simba Telecom had received a Show Cause Notice from Singapore’s Infocomm Media Development Authority (IMDA). According to a report of 26 October, the notice raises six allegations, mainly about the use of certain radio spectrum bands without authorisation between 2022 and 2026, along with concerns about governance and compliance culture. Possible outcomes it listed included financial penalties, licence modifications, suspension or cancellation, and tighter compliance obligations. Simba’s response is due by 16 November 2026, and Tuas said it would not comment further while the regulator’s process continues.

Telecommunications Operations

Tuas is an ASX-listed telecommunications company whose operating Business is Simba, a Singapore mobile operator. The ASX research data lists it in the S&P/ASX 300 and S&P/ASX All Ordinaries indices.

Background

In May 2026, news reports said Tuas terminated its planned Acquisition of Singapore operator M1 after the IMDA suspended its review of the deal over a possible radio band violation.

Trading Snapshot

The shares have fallen sharply over the past year. a 12-month decline of 73% as at late October. The s a 52-week range of about AUD 1.09 to AUD 7.81, so the stock is trading close to the lower end of that range. About 548 million shares are on issue.

Business Considerations

The IMDA process is open, and sanctions could affect Simba’s licence and operations, which make up the group’s core business.

Next Milestones

The only confirmed date is Simba’s response deadline of 16 November 2026. Tuas has not said when the IMDA is expected to reach a decision.