Asian telecom giant SingTel could sell its Optus Satellite business after it announced a strategic review of the business.

The company — which has owns mobile operator businesses in Thailand, Philippines, Singapore and India, in addition to Optus — has hired Credit Suisse and Morgan Stanley to run the review to “optimise value for shareholders”.

“SingTel will make an appropriate announcement in the event of any material development arising from the review,” a statement read.

The Australian speculates that strong financial performance — Optus Satellite generated record revenues during 2012, and Q4 revenue rose 8.3 percent year-on-year — could mean that the business is floated, but at this stage it is unclear.

The Optus Satellite business enables free-to-air and pay-TV services, broadband and mobile across Australia, New Zealand and surrounding countries. It delivers services to more than two million customers, and has agreements with a range of top broadcasters, including Australian Broadcasting Corporation (ABC), Foxtel and GlobeCast Australia.

The Optus Satellite services operates five satellites, with another due to launch this year, which are used by a range of other providers including Sky.

News of the Optus review comes just weeks after News Corp revealed it would sell its 44 percent share in Sky TV New Zealand.

Related: Asian telecom giant SingTel sees 9% annual customer growth but revenue down 4.8% to $3.7b

Image via Rosland Rahman / Getty