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Latest Forum Topics / SingTel    Last:4.23    -0.06  Post Reply
Singapore eDev
Newbornborn
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06-Oct-2022 11:04     
 
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 Alert Admin 		Yes , I am queuing to buy some

PhillipTan      ( Date: 06-Oct-2022 10:24) Posted:

I saw this article below.
According to it, there shouldn' t be much of an impact


SingTel - Potential impact of data-leak in Australia
Optus has confirmed that 2.1m out of its 9.8m customers faced some form of data-leak.
Optus has provided updated information about the impact of the cyber attack on its customers.  After extensive engagement with the government agencies to meticulously analyse the data for its 9.8m customers, it has been confirmed that the exposed information did not contain valid or current document ID numbers for some 7.7 million customers.
In the worst case scenario, it has less than 0.5% adverse impact on Singtel' s share price due to potential regulatory fine, if any. The potential regulatory fine will be estimated at almost A$105m on Optus, if imposed.
Last time, the regulatory imposed a AUD 2.5m fine on Telstra in Dec 2021 for data-breach faced by 50K customers. Telstra had failed to follow the due process to protect their privacy while Optus is blaming this breach is because of sponsored terrorists or criminals.
So in the worst case scenario, it is a regulatory fine estimated to be almost A$105m on Optus at about AUD 50.00 per customer who face data leak. Any potential fine might be a one-off cost and translate to ~0.2% adverse impact on Singtel' s market cap of almost S$43bn. 
This should not have too much of an impact and I believe SingTel will be bullish on a longer term outlook. Many analysts also suggest TPs in excess of SGD 3.00. Personally I feel any prices below SGD 2.60 will be a good buy. I am quite vested in this stock so my views could be biased, DYODD before making any trading decisions.

Speediman      ( Date: 06-Oct-2022 09:57) Posted:

Its not going to be easy for the rights group to prove a case of negligence to mount a huge claim. 

If Optus can prove that it has done all the necessary, then its no fault of Optus. 

 
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PhillipTan
Supreme
06-Oct-2022 10:24     
 
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 Alert Admin 		I saw this article below.
According to it, there shouldn' t be much of an impact


SingTel - Potential impact of data-leak in Australia
Optus has confirmed that 2.1m out of its 9.8m customers faced some form of data-leak.
Optus has provided updated information about the impact of the cyber attack on its customers.  After extensive engagement with the government agencies to meticulously analyse the data for its 9.8m customers, it has been confirmed that the exposed information did not contain valid or current document ID numbers for some 7.7 million customers.
In the worst case scenario, it has less than 0.5% adverse impact on Singtel' s share price due to potential regulatory fine, if any. The potential regulatory fine will be estimated at almost A$105m on Optus, if imposed.
Last time, the regulatory imposed a AUD 2.5m fine on Telstra in Dec 2021 for data-breach faced by 50K customers. Telstra had failed to follow the due process to protect their privacy while Optus is blaming this breach is because of sponsored terrorists or criminals.
So in the worst case scenario, it is a regulatory fine estimated to be almost A$105m on Optus at about AUD 50.00 per customer who face data leak. Any potential fine might be a one-off cost and translate to ~0.2% adverse impact on Singtel' s market cap of almost S$43bn. 
This should not have too much of an impact and I believe SingTel will be bullish on a longer term outlook. Many analysts also suggest TPs in excess of SGD 3.00. Personally I feel any prices below SGD 2.60 will be a good buy. I am quite vested in this stock so my views could be biased, DYODD before making any trading decisions.

Speediman      ( Date: 06-Oct-2022 09:57) Posted:

Its not going to be easy for the rights group to prove a case of negligence to mount a huge claim. 

If Optus can prove that it has done all the necessary, then its no fault of Optus. 

 

FATABA      ( Date: 06-Oct-2022 09:50) Posted:

I cant agree w you more .  All you know not telco....could be more . 
But unfortunately w this Aus govn ....what do you expect ? I doubt anyone can ran off w a fine esp Singtel is foreign investing company. 
Time will tell 
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FATABA
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06-Oct-2022 10:23     
 
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 Alert Admin 		I honestly hope so as a Singaporean. However to proof a case like this and having legal issue wld take mths or years ?
All we know the hackers would be happily shorting the mkt or worst targeting a 2nd one . 
Whatever, looking at the share price ..it is affected immediately  ( not after the verdict of the case. ) 
Tha is the share market risk and reward . 
Dyodd

Speediman      ( Date: 06-Oct-2022 09:57) Posted:

Its not going to be easy for the rights group to prove a case of negligence to mount a huge claim. 

If Optus can prove that it has done all the necessary, then its no fault of Optus. 

 

FATABA      ( Date: 06-Oct-2022 09:50) Posted:

I cant agree w you more .  All you know not telco....could be more . 
But unfortunately w this Aus govn ....what do you expect ? I doubt anyone can ran off w a fine esp Singtel is foreign investing company. 
Time will tell 
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Speediman
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06-Oct-2022 09:57     
 
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 Alert Admin 		Its not going to be easy for the rights group to prove a case of negligence to mount a huge claim. 

If Optus can prove that it has done all the necessary, then its no fault of Optus. 

 

FATABA      ( Date: 06-Oct-2022 09:50) Posted:

I cant agree w you more .  All you know not telco....could be more . 
But unfortunately w this Aus govn ....what do you expect ? I doubt anyone can ran off w a fine esp Singtel is foreign investing company. 
Time will tell 

Speediman      ( Date: 06-Oct-2022 09:41) Posted:


Telstra was hit by an attack too!   

This is a national crisis, a co-ordinated attack towards Australia. Not an isolated negligence by Optus.   

Aussies should band around to support their Telco more than trying to punish them with heavy fines. 


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Joelton
Supreme
06-Oct-2022 09:52     
 
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Singtel hits three-month low in aftermath of Optus cyberattack 
 
SHARES of Singtel : Z74 -1.92% had a brush with their lowest point in three months on Wednesday (Oct 5) as its Australian subsidiary Optus continues to grapple with the impact of a cyberattack it faced in late September. 
 
As at 1.28 pm after the midday break, the telecommunications giant was down S$0.06 or 2.3 per cent at S$2.55. The last time the counter traded at this level was on Jul 5. 
 
It later recovered slightly to S$2.56 by 1.44 pm, representing a S$0.05 or 1.9 per cent decline amid heavy trading with some 23.3 million securities transacted. This made Singtel the second-most active index counter by volume at the time after Yangzijiang Shipbuilding, which saw about 33.6 million of its shares move as at 1.44 pm. 
 
No married deals took place in early trade, according to ShareInvestor data. 
 
Singtel&rsquo s share price has been on a downturn since the telecommunications giant on Monday announced the appointment of Deloitte to undertake an independent review of Optus&rsquo cybersecurity systems following the cyberattack.
 
The group said it was in the midst of evaluating the potential financial implications arising from the matter. 
 
It separately sought to clarify &ldquo certain reports in the media citing potential fines or cost associated with the incident&rdquo , adding that the group considers these reports &ldquo speculative at this juncture and advises that they should not be relied upon&rdquo .
 
The counter ended S$0.06 or 2.3 per cent lower at S$2.60 on Monday, after the news. 
 
On the same day after the market closed, Optus confirmed the cyberattack it faced in late September resulted in a leak of the personal identification data of some 2.1 million of its 9.8 million customers.
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FATABA
Supreme
06-Oct-2022 09:50     
 
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 Alert Admin 		I cant agree w you more .  All you know not telco....could be more . 
But unfortunately w this Aus govn ....what do you expect ? I doubt anyone can ran off w a fine esp Singtel is foreign investing company. 
Time will tell 

Speediman      ( Date: 06-Oct-2022 09:41) Posted:


Telstra was hit by an attack too!   

This is a national crisis, a co-ordinated attack towards Australia. Not an isolated negligence by Optus.   

Aussies should band around to support their Telco more than trying to punish them with heavy fines. 

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Speediman
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06-Oct-2022 09:41     
 
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Telstra was hit by an attack too!   

This is a national crisis, a co-ordinated attack towards Australia. Not an isolated negligence by Optus.   

Aussies should band around to support their Telco more than trying to punish them with heavy fines. 
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bamboo300306
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05-Oct-2022 20:57     
 
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 Alert Admin 		Next might be India if the management did not learn their lesson from this incident. I would suggest they take this opportunity to buy over reputable cyber security company rather waste money on those not related companies. Not forgetting that they are now in digital banking
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slingshotpro
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05-Oct-2022 18:17     
 
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 Alert Admin 		"The cost to replace your drivers licence is $29 and will be charged by Service NSW at the time of application ? reimbursement advice will be issued by Optus to customers in the coming days," he wrote

slingshotpro      ( Date: 05-Oct-2022 17:56) Posted:

Of those documents, passports are the most expensive, with a replacement costing A$193 (S$180).

slingshotpro      ( Date: 05-Oct-2022 17:45) Posted:

Did you read the news? I thought out of 9.8m customer, there is only 2.1m customer really got affected, 1.2m with current valid ID and 900k with expired ID? And out of the 1.2m customers, only 150,000 involved passport and 50,000 Medicare card, the rest are just mobile number, email address for example
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investshare
Supreme
05-Oct-2022 18:16     
 
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 Alert Admin 		You think ppl file class action just to get $180 to replace passports??
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investshare
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05-Oct-2022 18:14     
 
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The Australian government has blamed Optus for the breach, which affected the equivalent of 40% of Australia's population, saying customers were exposed to financial crime and pressing the company to do more to notify those affected.


slingshotpro      ( Date: 05-Oct-2022 17:45) Posted:

Did you read the news? I thought out of 9.8m customer, there is only 2.1m customer really got affected, 1.2m with current valid ID and 900k with expired ID? And out of the 1.2m customers, only 150,000 involved passport and 50,000 Medicare card, the rest are just mobile number, email address for example

investshare      ( Date: 05-Oct-2022 15:55) Posted:

It only said the amount would exceed the burn case, not that the amount per person is comparable.

For Optus cas, say $500 per person compensation, multiply by 10million person, that is $5billon.
If $100/person, that is $1billion
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slingshotpro
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05-Oct-2022 17:56     
 
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 Alert Admin 		Of those documents, passports are the most expensive, with a replacement costing A$193 (S$180).

slingshotpro      ( Date: 05-Oct-2022 17:45) Posted:

Did you read the news? I thought out of 9.8m customer, there is only 2.1m customer really got affected, 1.2m with current valid ID and 900k with expired ID? And out of the 1.2m customers, only 150,000 involved passport and 50,000 Medicare card, the rest are just mobile number, email address for example

investshare      ( Date: 05-Oct-2022 15:55) Posted:

It only said the amount would exceed the burn case, not that the amount per person is comparable.

For Optus cas, say $500 per person compensation, multiply by 10million person, that is $5billon.
If $100/person, that is $1billion
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slingshotpro
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05-Oct-2022 17:45     
 
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 Alert Admin 		Did you read the news? I thought out of 9.8m customer, there is only 2.1m customer really got affected, 1.2m with current valid ID and 900k with expired ID? And out of the 1.2m customers, only 150,000 involved passport and 50,000 Medicare card, the rest are just mobile number, email address for example

investshare      ( Date: 05-Oct-2022 15:55) Posted:

It only said the amount would exceed the burn case, not that the amount per person is comparable.

For Optus cas, say $500 per person compensation, multiply by 10million person, that is $5billon.
If $100/person, that is $1billion.

slingshotpro      ( Date: 05-Oct-2022 10:47) Posted:

Using the $494 million compensation for 414 non-fatal injuries, 173 deaths, 450,000 hectares of burned area

So you mean you are expecting $500m fine for 10m current and former customer Identity theft as it is more serious that death and burned land
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tongphlp
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05-Oct-2022 17:39     
 
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 Alert Admin 		there is such insurance coverage in the market...but do you know if SingTel bought? Covered limits?

soul9110      ( Date: 05-Oct-2022 16:44) Posted:

There is no insurance coverage for such case? If a bank is robbed, will the bank also be fined for the crime?

Newbornborn      ( Date: 05-Oct-2022 16:15) Posted:

Serious figur
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soul9110
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05-Oct-2022 16:44     
 
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 Alert Admin 		There is no insurance coverage for such case? If a bank is robbed, will the bank also be fined for the crime?

Newbornborn      ( Date: 05-Oct-2022 16:15) Posted:

Serious figure

investshare      ( Date: 05-Oct-2022 15:55) Posted:

It only said the amount would exceed the burn case, not that the amount per person is comparable.

For Optus cas, say $500 per person compensation, multiply by 10million person, that is $5billon.
If $100/person, that is $1billion
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Newbornborn
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05-Oct-2022 16:15     
 
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 Alert Admin 		Serious figure

investshare      ( Date: 05-Oct-2022 15:55) Posted:

It only said the amount would exceed the burn case, not that the amount per person is comparable.

For Optus cas, say $500 per person compensation, multiply by 10million person, that is $5billon.
If $100/person, that is $1billion.

slingshotpro      ( Date: 05-Oct-2022 10:47) Posted:

Using the $494 million compensation for 414 non-fatal injuries, 173 deaths, 450,000 hectares of burned area

So you mean you are expecting $500m fine for 10m current and former customer Identity theft as it is more serious that death and burned land
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investshare
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05-Oct-2022 15:58     
 
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 Alert Admin 		Not sure if there is even criminal breach, why they still keep record of past subscribers?
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investshare
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05-Oct-2022 15:55     
 
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 Alert Admin 		It only said the amount would exceed the burn case, not that the amount per person is comparable.

For Optus cas, say $500 per person compensation, multiply by 10million person, that is $5billon.
If $100/person, that is $1billion.

slingshotpro      ( Date: 05-Oct-2022 10:47) Posted:

Using the $494 million compensation for 414 non-fatal injuries, 173 deaths, 450,000 hectares of burned area

So you mean you are expecting $500m fine for 10m current and former customer Identity theft as it is more serious that death and burned land?

investshare      ( Date: 05-Oct-2022 07:47) Posted:

With the Optus data breach exposing almost 10 million current and former customers to identity theft, law firms are circling for what could end up being the biggest ? and most valuable ? class action case in Australian legal history.

A settlement could well be worth billions, eclipsing the current record of $494 million paid to 10,000 victims of Victoria?s 2009 Black Saturday bushfires.


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investshare
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05-Oct-2022 15:52     
 
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 Alert Admin 		Not i said, Australian media said:

In determining damages, a court will take into account what efforts Optus has made to remedy the leak, mitigate the potential impact on those affected and pay for the costs of replacing drivers? licences, Medicare cards or passports.

Though the economic loss per customer may be relatively small, multiplied by the potential class-action pool size ? up to 10 million plaintiffs ? compensatory damages could easily be billions of dollars, even without exemplary damages.

That makes this a hugely attractive prospect for a law firm or class-action funder.

FATABA      ( Date: 05-Oct-2022 14:40) Posted:

First I think it is not a good comparison of the 2 cases. 
Optus is on lost of personal data ( so we have not known the potential of individual suing Optus on this ) 
Then they are the replacement cost of this documents x number of people ( which Optus has to pay right ) 
Finally is the fine and court fees ......which I doubt cross $500m 
Whatever this total can be high....not even knowing the demage it wld have on Optus position and business in Australia .
Dyodd

slingshotpro      ( Date: 05-Oct-2022 10:47) Posted:

Using the $494 million compensation for 414 non-fatal injuries, 173 deaths, 450,000 hectares of burned area

So you mean you are expecting $500m fine for 10m current and former customer Identity theft as it is more serious that death and burned land
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112233
Master
05-Oct-2022 15:12     
 
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 Alert Admin 		better start selling off more assets. tsk tsk. 
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