Singapore Telecommunications, better known as SingTel said it has bagged a five-year, A$500 million contract to render telecommunications and network services to Australia and New Zealand Banking Group Ltd. (ANZ).

SingTel will work with its Australian unit, Optus, to provide network to the contracted locales- Australia and Asia.

As a part of the deal, SingTel will work on transforming ANZ''s network infrastructure to improve its global communication, providing one platform for the delivery of voice, data and managed services to ANZ's 34,000 staff across the region.

Also it will deploy over 20,000 IP telephones and 40 video conferencing units.

Optus will be tasked to oversee the implementation of a new data network to over 850 ANZ retail branches, and manage its call centre infrastructure, in Australia.

SingTel cited the contract win as a final approval for the telco's position in Asia.