NetLink NBN Trust

Local telco sector kept at 'overweight' with Singtel, NetLink NBN Trust as top picks

SINGAPORE (June 3): Phillip Capital is maintaining an “overweight” rating on Singapore’s telecom sector, while expecting Mobile and Pay-TV revenues to be weak in 2019 and stabilise in 2020.

The research house’s top picks are Singtel and NetLink NBN Trust.

Phillip Capital likes Singtel for its recovering regional associates and has upgraded its call on Singtel to “buy” with a target price of $3.66.

Brokers unanimously positive on NetLink NBN's outlook after a satisfying FY19

SINGAPORE (May 15): OCBC Investment Research, DBS Vickers Securities and Maybank Kim Eng are maintaining their “buy” calls on NetLink NBN Trust (NLT) with the respective price targets of 95 cents, 90 cents and 83 cents.

Likewise, Phillip Capital continues to rate the trust at “accumulate” at a 93-cent price target.

NetLink NBN posts 31% rise in 4Q earnings to $20 mil; declares 2.44 cents DPU

SINGAPORE (May 13): NetLink NBN Trust has declared a 4Q19 DPU of 2.44 cents for the period from Oct 1, 2018 to Mar 31.

This brings the total DPU for FY19 to 4.88 cents, which exceeds projection by 5.2% and translates to a yield of 6.0%.

4Q19 earnings increased 30.7% to $20 million, compared to $15.3 million in 4Q18.

Revenue for the quarter of $87.9 million was in line with forecast and 8.9% higher than $80.7 million a year ago.

Several growth opportunities lined up for Netlink NBN in near-term

SINGAPORE (Mar 20): OCBC Investment Research is maintaining its “buy” call on Netlink NBN Trust (NLT NBN) with an unchanged fair value estimate of 90 cents.

In a Wednesday report, analyst Joseph Ng says, “There were a number of topics from the recent Committee of Supply (COS) debate in Parliament that, in our opinion, serve to reiterate the longer term growth opportunities for NLT NBN.”

Why Singtel, NetLink NBN Trust remain OCBC's top 'buy' picks in a cut-throat telco scene

SINGAPORE (Mar 15): OCBC Investment Research is maintaining “neutral” on Singapore’s telco sector in the wake of the 4QCY18 reporting season, which saw StarHub and M1 results come in within expectations, while that of Singtels was slig

NetLink NBN Trust beats 3Q projection by 18% with earnings of $19.6 mil

SINGAPORE (Feb 13): The trustee-manager of NetLink NBN Trust has announced earnings of $19.6 million for the 3Q19 ended December, outperforming its IPO projection by 17.6%.

3Q19 revenue came in at $89.0 million, 3.4% higher than projected.

This was led by higher-than-projected revenue from residential connection, non-residential connections and NBAP & Segment connections, as well as driven by higher diversion revenue from completed projects.

Total expenses for 3Q19 amounted to $71.7 million, which was 0.4% lower than projection.

NetLink NBN Trust, Singtel among UOB's top alpha picks for Feb

SINGAPORE (Feb 8): UOB Kay Hian is maintaining its “buy” call on NetLink NBN Trust considering its dominant market share of 90% and 34% for residential and non-residential fibre connections, respectively, where growth is projected at a three-year CAGR of 6.2%-8.5% for FY18-21.

In a Friday report, analyst Jonathan Koh highlights NetLink’s current relationship with TPG Telecom as the latter’s provider of non-building address point (NBAP) connections for backhaul transmission.

Local telco incumbents 'clearly have an edge' over new entrant at this juncture, says Maybank

SINGAPORE (Feb 7): Maybank Kim Eng is keeping “neutral” on Singapore’s telco sector on the belief that incumbent telcos have an edge in terms of subscriber in retention amid a “proliferation of new MVNOs (mobile virtual network operators)” as well as new mobile network operator TPG Telecom.

This comes post the research house’s survey of 150 telcos subscribers, out of which 81% said they stuck to their providers for more than 24 months.

Bringing home the bacon

SINGAPORE (Feb 1): The Edge Singapore has assembled the annual portfolio of 10 stocks, done in conjunction with the Lunar New Year.

Local telcos to face full effects of competition from TPG by mid-2019, says UOB

SINGAPORE (Jan 2): UOB Kay Hian has downgraded its view on Singapore’s telco sector to “market weight” from “overweight” in anticipation of intense competition from TPG Telecom.

The move comes as the fourth mobile entrant launched its trial service in Dec 2018 at “mind-blowing pricing” which incumbents would eventually be forced to match, in the research house’s view.

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