SINGAPORE (Dec 4): Maybank Kim Eng Research is raising its target price for Singapore Telecommunications by 8% to $3.72, after its Indian associate Bharti Airtel announced tariff increases.

“A return of pricing power to India’s market is a key positive for one of Singtel’s major businesses,” says analyst Luis Hilado in a Dec 2 report. “This leaves the Singapore wireless market as its remaining major overhang.”

According to Hilado, this tariff increase, which was announced by all three major telcos in India, should result in a positive impact for Singtel. This is despite $6.5 billion in spectrum fees and penalties potentially levied against Bharti Airtel in a recent Indian Supreme Court ruling.

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