SINGAPORE (Oct 20): Singapore’s No.3 telco M1 reported results that were in line with expectations and showed good cost control, but revenue growth was weak and there are big risks over margins should another competitor enter the market, Jefferies says in a note.

M1 said net profit in the third quarter rose less than 1% on year.

“M1 is a small operator with less than 25% market share in a saturated market. In our view, the 40% EBITDA margins M1 currently enjoys are at risk if a 4th mobile operator were to be introduced into the market,” as is expected, Jefferies says.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook