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Circles.Life deal gives M1 competitive edge for now, but TPG entry remains a threat

Michelle Zhu
Michelle Zhu7/5/2018 12:08 PM GMT+08  • 2 min read
Circles.Life deal gives M1 competitive edge for now, but TPG entry remains a threat
SINGAPORE (July 5): Maybank Kim Eng is maintaining its “hold” call on M1 with an unchanged price target of $1.63 cents on the belief that expected earnings pressure on the group has been largely priced in by the market.
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SINGAPORE (July 5): Maybank Kim Eng is maintaining its “hold” call on M1 with an unchanged price target of $1.63 cents on the belief that expected earnings pressure on the group has been largely priced in by the market.

The research house forecasts a 3% CAGR decline in wireless service revenues over 2017-20E.

In a Monday report, analyst Luis Hilado says M1’s head start in securing a mobile virtual network operator (MVNO) leasing deal with Circles.Life has, and will, enable the telco to temper wireless revenue pressure relative to competitors going forward.

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