Although Manulife US REIT (MUST) posted a 2% drop in its 2QFY2019 DPU to 1.48 US cents, market watchers are quick to highlight that this is by no stretch an indication of trouble for the REIT.
SINGAPORE (Nov 6): Analysts from two research houses – DBS Group Research and CGS-CIMB Research – are upgrading StarHub to “buy”, from “hold” previously, following the telco’s 3Q results announcement.
The optimism comes on the back of views that StarHub’s earnings pressures have already been priced in, while its enterprise and wireless segments could provide potential catalysts for the counter.
Year to date, shares in StarHub had slid nearly 24% to close at $1.32 on Nov 5, before the release of its results.
SINGAPORE (Nov 4): As Oversea-Chinese Banking Corp grew to become a leading bank in Singapore and the region, it built a web of associate companies in other industries, including property, engineering, construction, vehicle distribution, electronics manufacturing, food and drinks manufacturing, department stores and insurance.
SINGAPORE (Oct 20): Analysts believe that local telecommunications operations could stand to benefit, after the Infocomm Media Development Authority of Singapore announced an additional two localised 5G networks up for grabs.
This is double from the existing two nationwide 5G networks.
IMDA is looking to assign the spectrum based on the financial standings of the potential network operators and the network security designs. The results will be announced by June 2020.
(Oct 17): Singapore said it wants all four of its carriers to introduce 5G services, with half the city-state covered by a standalone network by 2022 to maintain competitiveness in developing technology.
SINGAPORE (Sept 16): The transport, storage and communications sector has seen quite a shake-up in the last year. Among the telcos, M1 delisted, even as new providers entered the market. Meanwhile, in the transport segment, taxi operators are still fighting off competition from ride-hailing services, Grab and Go-Jek.
SINGAPORE (Aug 26): StarHub has inked a memorandum of understanding with three internet service providers in China to enhance data connectivity and explore business opportunities between Singapore and Chongqing.
The agreement will see the Singapore telco work with China Mobile, China Unicorn and China Telecom to strengthen digital connectivity between Singapore and Chongqing and foster Singapore-China trade.
SINGAPORE (Aug 12): Amid the market volatility, investors are seeking refuge in safe-haven asset classes. Gold rallied above US$1,500 an ounce — the highest level since 2013, extending a 17% gain since the start of the year. Silver surged as well. “Turbulent geopolitical conditions along with shaky economic fundamentals have enacted sharp bearish pressures on risk assets while raising bullion appeal for the current term,” writes Phillip Futures analyst Benjamin Lu in his Aug 7 note.
SINGAPORE (Aug 7): StarHub’s 2Q19 earnings were hit by price erosion in the corporate renewals market as well as promotional discounts dished out to hasten the migration to fibre TV.
In 2Q19, the telco reported earnings of $39.5 million, down 36.1% from a year ago. This came on the back of total revenue at $552.8 million, down 7.4% from $597.3 million in 2Q18.
StarHub says the decline was primarily due to lower revenue contributions from its Mobile, Pay TV, and Broadband service segments as well as lower revenue from sales of equipment.
