China warns about 'unwavering resolve' to fight 'US bullying'

BRUSSELS (May 21): China could retaliate against the US after President Donald Trump blacklisted Huawei Technologies Co., the Chinese ambassador to the European Union said.

Trump upped the ante in his trade dispute with China last week, announcing moves to curb Huawei’s business that are starting to have ramifications for other companies around the world.

SingTel ends FY19 with 44% lower earnings of $3.1 bil; proposes 10.7 cents final dividend

SINGAPORE (May 15): Singapore Telecommunications (SingTel) posted $773 million in earnings for the 4Q19 ended March, down $7.7 million or 1% y-o-y compared to 4Q18 earnings of $769.6 million after factoring in exceptional gains from Airtel.

The latest set of results brings the group’s full year earnings to $3.1 billion for FY19, representing a 44% decline from FY18 earnings of $5.5 billion which was mainly attributed to the absence of an exceptional gain from the divestment of NetLink Trust (NLT).

StarHub reports 14.2% lower 1Q earnings of $54 mil due to higher expenses

SINGAPORE (May 3): StarHub reported earnings of $54 million for the 1Q ended March, 14.2% lower compared to a year ago due to higher operating expenses. 

Revenue grew 6% to $597 million from a year ago driven by strong segmental revenue contributions from network solutions (+9%) and cyber security services (+41%), which mitigated 5% and 12% lower service revenues from the mobile and Pay TV businesses, respectively.

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

Singtel names AT&T a new founding member of Global Telco Security Alliance

SINGAPORE (Mar 6): American telco conglomerate AT&T has joined the Global Telco Security Alliance – which was launched in April 2018 by four telecommunications operators around the world including Singtel – as an equal member of the group.

With this, the cybersecurity-focused alliance now has a total of five founding members, namely: Singtel (Singapore), AT&T (North America), Etisalat (UAE), SoftBank Corp (Japan) and Telefónica (Spain).

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.

Singtel's 2Q earnings lower at $667 mil on absence of one-off gain

SINGAPORE (Nov 8): Singtel announced earnings of $667.2 million for 2Q19, down from its restated earnings of $2.85 bil in 2Q18, where a $2.05 billion exceptional gain was booked on the partial divestment of NetLink Trust.

Excluding one-off items, underlying net profit fell 21% on lower contributions from Airtel and Telkomsel, as well as forex losses that came on the back of a stronger Singapore dollar against regional and Australian currencies.

StarHub to lay off 300 employees as telco commences strategic review

SINGAPORE (Oct 3): StarHub is embarking on a strategic transformation review that will include laying off an estimated 300 of its full-time staff, primarily those in non-customer facing functions, with those affected to be notified by the end of this month.

In an aftermarket press statement issued on Wednesday, the telco attributes the decision to “ongoing natural attrition and tighter management of contractor roles [which] will result in additional roles being made redundant”.

Cybersecurity merger positive for StarHub but will take time to manifest, say analysts

SINGAPORE (Sept 6): DBS and RHB are maintaining their “hold” and “neutral” calls on StarHub with the respective price targets of $1.42 and $1.78, while CGS-CIMB Research’s “add” call remains unchanged with a target price of $1.85.

StarHub fails to leave analysts star-struck after a dismal 1Q

SINGAPORE (May 4): Maybank Kim Eng and OCBC Investment Research UOB Kay Hian are maintaining their “hold” calls on StarHub with an unchanged price target and fair value estimate of $2.27 and $2.20, respectively, while UOB Kay Hian is reiterating its “sell” call on the stock with a target price of $2.25.

This comes after the group on Thursday reported its first set of results under the new SFRS 15 accounting standard, with 1Q18 earnings indicating continued competitive pressure on the wireless and pay TV businesses although this came largely in line with expectations.

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