| Latest Forum Topics / SingTel Last:4.27 -- |
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Venture
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mav1ryan
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06-Sep-2023 09:53
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Truly is quite disappointing when Singtel is having all the positive news, but this counter is not moving.
Grab and Singtel&rsquo s digital bank gets approval from Bank Negara Malaysia to begin operations |
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Ohyonglee
Member |
06-Sep-2023 09:40
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SingTel you are disappointing laggard. What is ceo doing to this price weakness | ||||
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Joelton
Supreme |
01-Sep-2023 14:01
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Singtel&rsquo s earnings have troughed, analysts keeps ' buy'
Analysts at PhillipCapital Research, Maybank Securities, CGS-CIMB Research and RHB Bank Singapore have kept their &ldquo buy&rdquo and &ldquo add&rdquo calls on Singapore Telecommunications (Singtel) after attending the company&rsquo s 2023 Investor Day.
PhillipCapital analyst Paul Chew describes Singtel as &ldquo directionally healthy&rdquo , believing that earnings have troughed as mobile prices start to edge up higher and new growth engines gather scale. &ldquo The downside will depend on [its Australian subsidiary] Optus' s ability to rationalise cost to cope with the unrelenting price competition,&rdquo he adds.
In Australia, tier-2 brands or mobile virtual network operators (MVNOs) have been capturing market share by 5.7 percentage points from 19.7% in 2019 to 25.4% in 2022. This was despite Optus purchasing the largest MVNO &mdash amaysim &mdash in 2021 for A$250 million.
In Singapore, Singtel sees strong competition in the mobile market, particularly for low-end price plans. CGS-CIMB analysts Kenneth Tan and Lim Siew Khee note that inbound roaming is recovering quickly, with the company expecting recovery to be accelerated by big festivals such as the F1 Grand Prix and resumption of no-visa travel to China.
Broadband is also seeing intensifying competition on the back of the impending entry of Simba into the broadband sector, they add. &ldquo That said, the group still expects consumers to continuously upgrade to higher bandwidth plans given the increasing data consumption trend. Singtel will be relaunching its 10 GBPS plan soon.&rdquo
Meanwhile, the company is aiming to build-up its Regional Data Centre (RDC) platform capacity by four fold to more than 220MW across Singapore, Thailand and Indonesia in the next three years, with potential monetisation opportunities. Maybank analyst Kelvin Tan highlights that Singtel is also looking for suitable partners to expand into Asean countries, namely Malaysia and Vietnam.
The company expects a healthy RDC ebitda margin of around 50%, even outside of Singapore, he adds. Singtel is positioning to have its data centres differentiated from regional peers through low power usage effectiveness while maintaining high efficiency as well as sufficient capabilities in dealing with new generation technology, Maybank clarifies.
During the investor day presentation, Singtel reiterated its commitment to improve its return on invested capital (ROIC) to low double-digits by FY2026. This will be done via a combination of greater operational expenditure efficiencies, ramping up new growth engines as well as lowering its capital expenditure intensity, among others, RHB analysts explain.
Moving forward, RHB sees scope for more cash to be returned, with another $6 billion in assets earmarked to be recycled over the mid-term.
PhillipCapital and CGS-CIMB analysts are keeping their target prices for Singtel at $2.80, while Maybank and RHB analysts are maintaining their target prices at $3.10 and $3.40 respectively.
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halleluyah
Supreme |
30-Aug-2023 09:04
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PE rally...2.4x....oversold....short covering...... | ||||
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rledchg11
Member |
28-Aug-2023 13:01
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ya lor... I also want to know what is next will be like.. !!!
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Potato
Master |
28-Aug-2023 12:48
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Hey... that link is show pass information. Do you know about the coming dividend?
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PiRPiR
Master |
28-Aug-2023 11:58
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https://www.dividends.sg/view/Z74
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Potato
Master |
28-Aug-2023 11:43
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Gd afternoon~~ I asked this before... may i know the coming dividend that will be delcare for Nov/Dec 2023? Usually we have in Aug and another one in Nov/Dec (Paid in Dec/Jan). cheers, Kent Chow |
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vivacious
Supreme |
28-Aug-2023 11:11
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back to 25 series in no time | ||||
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halleluyah
Supreme |
28-Aug-2023 10:08
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asia mkt start fr a run up after been oversold.....still gd px to accumulate tis babe......dyodd | ||||
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Winnertakeall
Elite |
27-Aug-2023 10:36
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Singapore Blue-Chip Stock at 52-Week Lows:
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halleluyah
Supreme |
25-Aug-2023 09:21
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yeah...2.4xx fr presidential rally next wk....
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vivacious
Supreme |
24-Aug-2023 15:49
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24 series coming | ||||
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Winnertakeall
Elite |
24-Aug-2023 14:30
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Brokers take: Phillip Securities upgrades Singtel to buy after recent price weaknessPHILLIP Securities has upgraded its call on Singtel : Z74 +0.86% to buy from accumulate, in view of the telco attractive valuations amid its recent price weakness.However, the research house shaved its target price to S$2.80 from S$2.84, pegging it to six times the enterprise value to earnings before interest, taxes, depreciation and amortisation (Ebitda), in line with peer valuation for Singtel s core Singapore and Australia businesses, at S$0.90 per share. The lower price target comes in the wake of updated FY2024 revenue and Ebitda forecasts, noted the brokerage in its Wednesday (Aug 23) report. Analyst Paul Chew noted Singtel growth areas to be its technology services arm NCS its standalone infrastructure unit Digital InfraCo Telkomsel, its regional associate in Indonesia and Bharti Airtel, its associate company. Chew flagged Optus, the Singtel-owned Australian telco, as the weakest spot for the group against the backdrop of a tumbling Australian dollar, higher wages and electricity costs, as well as competitive pricing and subdued consumer sentiment. Any growth will be offset by weakness in Optus and Singapore Singtel legacy enterprise business. We believe these factors will keep Singtel growth outlook muted. |
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Winnertakeall
Elite |
24-Aug-2023 13:02
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SGX - Company Announcement (General) Singtel Investor Day 2023 Date/Time : 23-August-2023 18:30:25 Submitted by : Ms Lim Li Ching (Asst Company Secretary)
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Ohyonglee
Member |
23-Aug-2023 21:04
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Hi anyone knows what time is this event? Venue seems to be St Regis. Is it open to public? Can' t seem to find any information on this. Thanks in advance. | ||||
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Winnertakeall
Elite |
23-Aug-2023 19:00
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Attached presentation slides on Singtel Investor Day 2023 https://links.sgx.com/1.0.0/corporate-announcements/OJR44ASQAAE3G6I4/770250_Singtel%20Investor%20Day%202023%20-%20Group%20CEO.pdf https://links.sgx.com/1.0.0/corporate-announcements/OJR44ASQAAE3G6I4/770251_Singtel%20Investor%20Day%202023%20-%20Group%20CFO.pdf https://links.sgx.com/1.0.0/corporate-announcements/OJR44ASQAAE3G6I4/770252_Singtel%20Investor%20Day%202023%20-%20Optus.pdf https://links.sgx.com/1.0.0/corporate-announcements/OJR44ASQAAE3G6I4/770253_Singtel%20Investor%20Day%202023%20-%20Singtel%20Singapore.pdf |
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Entropy72
Master |
22-Aug-2023 22:44
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Anyone has access to citibank analyst report after the quarterly update? | ||||
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Entropy72
Master |
22-Aug-2023 22:33
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Source: The Edge
Following the set of results, DBS Group Research, UOB Kay Hian (UOBKH), Maybank Securities and RHB Bank Singapore have all kept their ?buy? calls on Singtel at unchanged target prices, whilst CGS-CIMB Research has maintained their ?add? call at a lowered target price. DBS, UOBKH, Maybank and RHB have kept their unchanged target prices of $3.18, $3.15, $3.10 and $3.40 respectively, whilst CGS-CIMB has lowered their target price to $2.80 from $3.00 previously. The team of analysts at DBS note that Singtel?s 1QFY2024 underlying net profit of $571 million was in-line and comprising 23.9% of the analyst's FY2024 earnings estimates, crediting the sharp drop of 54% y-o-y in interest expenses to $52 million as a key reason behind the almost 86% growth in earnings, whilst the rest of the growth came from associates? post-tax earnings growing by 4% y-o-y to $426 million. The team also observes that net Interest expenses reduced significantly with the proceeds from Singtel?s capital recycling initiatives, whilst interest income was boosted by higher interest rates and increased holdings of fixed deposits and Singapore treasury bills. Conversely, the core operating profit from Singapore and Australia showed an 8.5% y-o-y drop to $300 million, which was ?3% to 4% below? the team?s estimate, of which they attribute to the weak performance of Optus Australia, whose operating profit declined 35% y-o-y to $56 million but rose 10% q-o-q. ?Optus achieved a 1% rise in operating revenue in Australian Dollar terms due to the sale of insurance business last year offset by rise in roaming and postpaid average revenue per user (ARPU). However, Optus? operating expenses rose due to high inflation and a spike in energy costs following expiry of a fixed price contract,? writes the team at DBS. The pre-tax profit from associates of $583 million showed a 1% increase y-o-y was ?largely in-line? as growth from Bharti, AIS, Intouch was offset by decline at Telkomsel & Globe. Overall, the team at DBS likes Singtel for its 6.2% yield and over 10% FY2023 to FY2025 earnings of CAGR-supported by ARPU rise in many markets outside Singapore plus cost-cutting in Singapore & Australia. The analysts note the ongoing integration of consumer and enterprise business to help cut costs in FY2024 to FY2025 and the regulatory rejection of network sharing by Telstra-TPG Telecom in Australia to support Optus? where significant recovery in ARPU is taking place as key drivers. Meanwhile, UOBKH analysts Chong Lee Len and Llelleythan Tan Yi Rong point out that Singtel Singapore posted a respective 1.8% and 0.6% decrease y-o-y in 1QFY2024 revenue and ebitda, citing the drop to ?a continued decline in legacy carriage services? and ?intense price competition in the lower-end mobile market?, which was slightly offset by an increase of 2.7% y-o-y in mobile service revenue from roaming recovery. Postpaid ARPU was stable on a q-o-q and y-o-y basis at $32 a month while postpaid subscribers increased by 28,000 q-o-q and 75,000 y-o-y respectively. Dragged by intense price competition, prepaid ARPU was stable q-o-q but dropped by 9.2% y-o-y to $12 a month. Prepaid subscribers grew 15,000 q-o-q and 120,000 y-o-y respectively, on the back of increased foreigner customer base. Ebitda margins for the first quarter also expanded by 0.5 ppt y-o-y on better cost management. On the end of the robust growth shown by NCS, the analysts cheer that growth was driven by a full quarter of contributions from new acquisitions, resulting in a 1QF20Y24 revenue growth of 13.9% y-o-y and ebitda growth of 6.6% y-o-y, and total bookings for 1QFY2024 amounted to $691 million. ?Ebitda margins softened slightly by 0.7 ppt y-o-y and 1.2 ppt q-o-q which we reckon is due to continued opex investments and increased staff costs post-acquisitions,? opine the analysts. Similarly, Data InfraCo saw an increase in 1QFY2024 revenue and ebitda of 17% y-o-y and 10.7% respectively, which Chong and Tan credit to the healthy data centre businesses benefitting from price uplifts and pass-through of utilities to customers. The analysts write: ?The lower ebitda growth as compared to revenue growth was offset by higher operating costs, with ebitda margins falling slightly by 3.4 ppt y-o-y.? In the view of Chon and Tan, Singtel ?remains an attractive play? against elevated market volatility, underpinned by improving business fundamentals. Lastly, key re-rating catalysts by the analysts include the successful monetisation of 5G, monetisation of data centres and NCS, as well as market repair in Singapore and the resumption of regional roaming revenue. Meanwhile, Maybank analyst Kelvin Tan notes that Singtel has announced another $6 billion of capital recycling over the next few years, including proceeds from divestment of Comcentre and disposal of infrastructure assets such as data centres. ?We see more scope for cash to fund investments for growth while keeping leverage in check through asset sales, with minority stakes in regional telecoms worth around $27 billion. It views its regional telecom stakes as strategic, long-term assets as they benefit from leading market positions in developing markets. It could divest a portion of its shares without diminishing its influence, such as last year?s 3.3% Bharti stake sale,? writes Tan. Upside factors noted by Tan include the strong growth in enterprise and Digital Life to positive operating leverage, a stronger?than-expected ARPU due to easing in price competition in countries it operates in and a faster-than-expected monetisation of 5G development. Conversely, downside risks include a further wireless margin compression triggered by competition in Singapore and Australia, a worse-than-expected cannibalisation of wireless voice, SMS and roaming by data and lastly a failure to monetise 5G development. On the other hand, the analyst team at RHB Bank Singapore has brought Singtel's low double-digit return on investment in capital (ROIC) target to attention. The team says: ?After rising to 8.3% in FY2023 (FY2022: 7.3%), management targets low double-digit ROIC in the medium-term. We remain hopeful the target would be achieved soon with the good operational traction from return on equity (ROE) accretive asset recycling initiatives (more than $6 billion since 2021) and the reinvigorated core businesses (Singapore consumers, Optus, and enterprises). There is scope for more value unlocking of infrastructure assets, with digital infrastructure now a strategic pillar. We retain our forecasts for now.? Key drivers noted by the team include stronger earnings recovery, cost efficiencies, revenue opportunities within the enterprise segment and the unlocking of asset values. Risks include competition across markets, weaker-than-expected earnings, higher than expected capex and currency volatility. Notably, the team?s listed target price includes a 6% ESG premium led by exemplary group-wide sustainability programmes. Lastly, CGS-CIMB analyst Kelvin Tan believes Optus? core business is ?seeing improvements?. Tan writes: ?We believe Optus could see further ARPU uplift ahead, on the back of industry price hikes conducted (Optus raised once in May). In addition, management intends to accelerate cost rationalisation efforts and reap synergies from the integration of Optus consumer and enterprise (conducted in Jul last year), which could point to margin improvement opportunities ahead, in our view.? However, the analyst also understands that a weaker Australian Dollar will likely remain an earnings drag. Tan reasons further asset monetisation and the issuance of special dividends as re-rating catalysts, whilst including the higher price competition impacting ARPUs and forex translation risks for Optus and associates as downside risks. |
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Entropy72
Master |
22-Aug-2023 21:07
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Got hits and misses. Their geographical expansion (especially Australia and India) bore fruits. But the web related ventures failed.
The difference was in (1) whether they went into areas where they have expertise (2) whether they do it with partners who are familiar with local markets. With GXS, NCS, Digital InfraCo, we can see that they are adhering to (1) and/or (2). With their failed web ventures, they did not follow the 2 principles. |
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