UOB Kay Hian is keeping an "overweight" rating on Singapore's telecommunications sector, as the country's 5G standalone (SA) rollout by the three telco players Singapore Telecommunications (Singtel), StarHub and M1 is on track to achieve 50% population coverage by end-2022 and nationwide coverage by 2025. 

Based on a network survey by nPerf, Singtel had a head start with the launch of 5G SA coverage back in 4Q2020. As for the StarHub-M1 joint venture (named Antina), the 5G SA rollout started with base station identification and installation. At this juncture, StarHub has achieved more than 70% of outdoor 5G NSA coverage.

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