Singapore telcos

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 ...
Maybank remains 'neutral' on telco sector as uncertainty looms
SINGAPORE (Apr 1): Maybank Kim Eng Research remains “neutral” on the Singapore telco sector amid uncertainty over the implication for competition in the industry with M1’s imminent de-listing. The research house believes StarHub provides the best value and Netlink NBN Trust offers insulation from uncertainty in the wireless segment. Maybank has “buy” calls on both StarHub and ...
Poor segment performance & competition still a drag on StarHub's earnings, say analysts
SINGAPORE (Feb 18): RHB Research and UOB Kay Hian are maintaining their “neutral” and “sell” calls on StarHub with target prices of $2.02 and $1.45, respectively. Meanwhile, Phillip Capital has downgraded its rating on StarHub to “neutral” from “accumulate” with a lower target price of $1.58 compared to $1.88 previously. This comes after the telco concluded FY18 with 26.2% ...
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 ...
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 ...
OCBC revises M1 to 'accept the offer' from 'hold' on competitive environment
SINGAPORE (Jan 8): OCBC Investment Research is revising its “hold” rating on M1 to “accept the offer” while maintaining its current fair value estimate of $2.06 per share. To recap, Konnectivity – a jointly-owned company between Keppel Corporation and Singapore Press Holdings (SPH) – announced a pre-conditional voluntary general offer (VGO) for M1 in Sept last year at $2.06 per ...
Local telcos kept at 'neutral' by Maybank; prefers NetLink Trust
SINGAPORE (Dec 31): Maybank Kim Eng is keeping a “neutral” rating on the local telco sector as the new year is shaping up to be a trying one for the wireless sector with the upcoming launch of TPG, which teases with unlimited data plans, while StarHub and Circles.Life are aggressively launching SIM-only plans. TPG’s delayed commercial launch has provided a reprieve for the industry, but ...
Local telcos may see a positive surprise in 2019: DBS
SINGAPORE (Dec 20): DBS has an “overweight” rating on Singapore’s Telco stocks as TPG’s abysmal capex so far implies room for positive surprise in 2019. TPG has so far spent A$66.7 million ($65.7 million) in cumulative capex on its Singapore roll-out, about 22-32% of its planned S$200-300 million of capex. In a market focus report, analyst Sachin Mittal says, “At the current level ...
TPG's entry delayed but still remains a threat to Singapore telcos
SINGAPORE (Nov 29): Although the year is drawing to an end, TPG has yet to announce its commercial launch this year. This is despite TPG saying in September that it was on track to meet its outdoor-coverage milestones set by IMDA. In the short term, this delay might be good for the local telcos, as it gives them more time to prepare for the competition and re-contract subscribers to new ...
Competition heats up in telco sector and the catchphrase is 'free'
SINGAPORE (June 12): UOB Kay Hian continues to rate the telecommunications sector as “market weight” as competition within the sector has intensified even before TPG Telecom has launched its mobile services on a commercial basis. So far, TPG has launched a mobile plan just for senior citizens aged 65 and above, giving them 3GB of data and unlimited local calls for free for the first 24 ...