Singapore Telecom 01 (May 08 - Jan 12)

Re: Singapore Telecommunications 1 (May 08 - Oct 10)

Postby winston » Fri Oct 08, 2010 2:22 pm

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PE 13; No EPS Growth ?

Valuation/Recommendation

• We value SingTel at S$3.12 based on sum-of-the-parts valuation. Maintain HOLD. We prefer M1 and StarHub for exposure to the telecommunications industry.

Share Price Catalyst
• SingTel has higher beta than M1 and StarHub. Sometimes, SingTel’s share price performs better during market rallies.
• Guidance that earnings from domestic Singapore operations would decline in FY11 and competition in India, Indonesia and Australia prevent us from getting bullish on the stock.

http://research.uobkayhian.com/research ... 705826.pdf
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Re: Singapore Telecommunications 1 (May 08 - Oct 10)

Postby winston » Wed Nov 10, 2010 1:38 pm

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Shares of Singapore Telecommunications , Southeast Asia's largest phone firm, fell as much as 2.7 percent after its Indian associate Bharti Airtel reported a bigger-than-expected 27 percent drop in quarterly profit.

[ID:nSGE6A80D5] At midday, SingTel shares were trading at S$3.23 on a volume of 18.6 million shares.


Source: Reuters
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Re: Singapore Telecommunications 1 (May 08 - Nov 10)

Postby winston » Fri Nov 12, 2010 12:06 pm

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RESEARCH ALERT-Phillip ups price for SingTel, keeps "hold"

SINGAPORE, Nov 12 (Reuters) - Phillip Securities has raised its target price for Singapore Telecommunications , Southeast Asia's largest telecommunications firm, to S$3.52 from S$3.43 and maintained its "hold" rating.

STATEMENT: Phillip said SingTel's results came in below expectations due to the poor performance by its regional mobile associates, adding that they are likely to continue to face greater competition in their local telecommunications markets.

SingTel earned S$892 million ($693 million) in the fiscal second quarter ended September, down from S$956 million a year ago, as acqusition costs by Indian affiliate Bharti weighed, but cheered investors by raising dividends.

[ID:nSGE6A80EA] Phillip said it raised its target price for SingTel because the share prices of the firm's mobile associates have risen in the current market rally, but maintained its "hold" recommendation due to the limited upside to the fair value.

At 0130 GMT, SingTel shares were up 0.3 percent at S$3.32 on a volume of 3.7 million shares.

Source: Reuters
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Re: Singapore Telecommunications 1 (May 08 - Nov 10)

Postby winston » Wed Nov 24, 2010 10:25 am

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RESEARCH ALERT-Goldman ups SingTel target to S$3.67

SINGAPORE, Nov 24 (Reuters) - Goldman Sachs has raised its target price for Singapore Telecommunications , Southeast Asia's largest telecommunications firm, to S$3.67 from S$3.53 and kept its buy rating.

STATEMENT: Goldman has raised its target for SingTel as it sees improving revenue market share for its Indian affiliate Bharti Airtel and more price stability in the Indian cellular market.

The brokerage has raised its target price for Bharti by 25 percent, which is material to SingTel's valuation as it owns 32 percent of Bharti.

Shares of SingTel were up 0.65 percent to S$3.09 by around 0112 GMT in a market up <.FTSTI> 0.1 percent.


Source: Reuters
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Re: Singapore Telecommunications 1 (May 08 - Nov 10)

Postby winston » Tue Jan 18, 2011 9:00 am

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RESEARCH ALERT-Phillip cuts SingTel to S$3.32, keeps "hold"

SINGAPORE, Jan 18 (Reuters) - Phillip Securities has lowered its target price for Singapore Telecommunications to S$3.32 from S$3.52 and kept its "hold" rating.

STATEMENT: Phillip said it expects SingTel to continue facing stiff competition in markets like India, Philippines, Indonesia, and Singapore.

It also noted that in Singapore, the launch of Next Generation National Broadband Network will allow competitors StarHub and M1 more opportunities to grab market share.

SingTel's Australian unit Optus may also be affected by the floods in Australia, as Phillip expects the usage of telecommunications services to drop and its network could have also suffered from some damage.

Shares of Singapore Telecommunications have lost 0.64 percent since the start of last year to close at S$3.09 on Monday.


Source: Reuters
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Re: Singapore Telecommunications 01 (May 08 - Feb 11)

Postby winston » Thu Feb 10, 2011 8:15 am

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UPDATE 1-SingTel's Q3 net profit down 2.2 pct, Bharti hurts

* Net profit S$968 mln vs S$935.4 mln forecast
* Singapore, Australian units cushion Bharti's impact

By Harry Suhartono

SINGAPORE, Feb 10 (Reuters) - Singapore Telecommunications (SingTel) said strong performances in Singapore and Australia helped cushion falling contributions from its Indian operation as Southeast Asia's biggest telecom firm reported a smaller than expected 2.2 percent fall in quarterly profit.

SingTel's Indian associate Bharti Airtel was the spoiler for its third-quarter earnings as the Indian firm saw its October-December net profit slump 41 percent on currency losses and a drag from the $9 billion acquisition of the African operations of Kuwait's Zain .

"Singapore and Australia continued to perform and deliver strong revenue growth and cash flows despite the level of competition in these markets," SingTel's CEO Chua Sock Koong said in a statement.

Bharti, India's top mobile carrier in which SingTel has a 32.2 percent stake, could see improved prospects this year on growth of its African business and launch of third-generation mobile services in India.

SingTel said in Singapore dollar terms, profit before tax contribution from Bharti was down 22 percent to S$184 million.

The Zain acquisition has weighed on SingTel in the past two quarters. SingTel CEO Chua Sock Koong said in November that the company will take at least another two quarters to restructure the African operation.

SingTel, the biggest company on the Singapore Exchange, recorded an underlying net profit of S$968 million ($759.8 million) in October-December, down from S$990 million a year ago but above an average forecast of S$935.4 million by six analysts.

Revenue at the company, which has a market value of $39 billion, climbed 5.7 percent in local currency terms to S$4.7 billion in the quarter.

With a domestic market of just 5 million people and virtually everyone in Singapore owning mobile phone, SingTel has bought stakes in mobile operators in high-growth Asian countries such as India, Indonesia and in Australia to boost its earnings.

At home, analysts say the introduction of a next-generation high-speed nationwide internet broadband network could provide more challenges, especially in the corporate market.

SingTel shares have risen by 1.3 percent so far this year, outperforming the 1.2 percent fall in the broader Singapore market


Source: Reuters
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Re: Singapore Telecommunications 01 (May 08 - Feb 11)

Postby tonylim » Mon Feb 14, 2011 7:00 pm

(Come across this message from other forum)

How to run operator into red ??

Smartphones to run operators into the red in 3 years
Posted: 03 February 2011 1910 hrs

PARIS: Rocketing smartphone use could drive mobile operators into losses in three years unless they rapidly adopt technology to capture more revenue from data services, according to a US network company.

Rising investment costs to handle exploding data traffic combined with lower revenue per unit of data could begin to drive some operators into the red in as soon as two years, Tellabs said it calculated based on independent analyst data.

"Carriers can spend themselves bankrupt well before users run out of hunger for capacity," said Tellabs chief executive Rob Pullen.

"Our study shows that simply adding dumb capacity is unsustainable. To avoid the 'end of profit', carriers must bring intelligence to their networks -- it is critical to carrier survival," he was quoted as saying in a statement.

A number of industry players expect mobile data traffic, driven mostly by smartphones, to nearly double each year for the next several years.

While operators are investing heavily to add capacity and roll out fourth-generation networks, they are having difficulty earning money from data transfer and forecasts see falling revenue per unit of data transferred if current trends continue.

Dozens of companies such as Tellabs are offering mobile operators solutions to manage network traffic, reducing needed investments and opening possibilities to capture more revenue through priority services.

"Mobile carriers face a stark choice about their business models: it's either the smart mobile Internet or an unsustainable dumb-pipe business," said Vikram Saksena, Tellabs' chief technology officer.

Tellabs' findings come days before the mobile industry holds its annual gathering in Barcelona, where a smartphone-driven boom in data traffic overwhelming networks and capturing revenue from data are set to be at the top of the agenda.

Tellabs did not analyse specific mobile operators, but used a model that generalised costs and revenue structures in three major regional markets.

It found that operators in North America were most vulnerable to changes wrought by mobile Internet and that some could plunge into unprofitability as soon as the beginning of 2013, others at the end of that year based on median cost and revenue assumptions.

For developed Asia-Pacific markets, operators would enter the red from the third quarter of 2013 to the third quarter of 2014.

Western European operators are forecast to enter unprofitability from the beginning of 2014 or 2015.
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Re: Singapore Telecom 01 (May 08 - Feb 11)

Postby winston » Fri Feb 25, 2011 10:45 am

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Singapore Hot Stocks-SingTel rises after Citi upgrade to buy

SINGAPORE, Feb 25 (Reuters) - Shares of Singapore Telecommunications , Southeast Asia's largest telecom firm, rose as much as 2.8 percent on Friday after Citigroup upgraded its rating to buy from hold, traders said.

At 0226 GMT, shares of SingTel were 2.5 percent higher at S$2.93 with almost 9 million shares changing hands.

Citi raised its target price for SingTel to S$3.36 from S$3.25, citing declining subscriber acquisition and retention costs (SARC) for smartphones in Singapore and Australia.

"Concerns over Bharti's African foray have been abating given its stronger-than-anticipated revenue growth," added Citi.


Source: Reuters
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Re: Singapore Telecom 01 (May 08 - Feb 11)

Postby winston » Thu Apr 14, 2011 11:32 am

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RESEARCH ALERT-Nomura raises SingTel to S$3.42; keeps neutral

SINGAPORE, April 14 (Reuters) - Nomura has raised its target price on Singapore Telecommunications (SingTel) to S$3.42 from S$3.35 and maintained its neutral rating.

STATEMENT: Nomura said SingTel is currently trading at a price-earnings ratio of 12.7 times for its 2012 financial year ending March, or 11.6 times for Singapore and its Australian unit Optus combined.

"This is around a 10 percent discount to regional peers - compelling but not dirt cheap, in our view," Nomura said in a report.

SingTel is expected to either increase its payout or engage in some form of capital management, Nomura said, adding that there are no acquisitions on the horizon and the firm's associates are all self-funded.

The brokerage said competition is rising in regional markets, but SingTel's associates have strong market positions, balance sheets and earnings outlooks.

At 0238 GMT, SingTel shares were down 1 percent at S$3.03 on a volume of 4.8 million shares.


Source: Reuters
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Re: Singapore Telecom 01 (May 08 - Apr 11)

Postby winston » Mon Apr 18, 2011 12:04 pm

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RESEARCH ALERT-Deutsche ups target on SingTel to S$3.36; keeps hold

SINGAPORE, April 18 (Reuters) - Deutsche Bank has raised its target price on Singapore Telecommunications (SingTel) to S$3.36 from S$3.31 but maintained its hold rating.

STATEMENT: Deutsche said it has revised up its Singapore dollar forecasts against all of SingTel's key component currencies, with the exception of the Australian dollar and Indonesian rupiah.

This increased earnings estimates for SingTel's 2012 and 2013 financial years by 1.6 percent and 1.3 percent, respectively.

Source: Reuters
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