Oh noooooo....T_T
Date: 10/11/2016
Source : OCBC
Stock : SingTel Price Target : 4.26 | Price Call : HOLD
Last Price : 3.84 | Upside/Downside : +0.42 (10.94%)
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Singtel?s 2QFY17 revenue fell 2.3% YoY to S$4086m, impacted by the decline in mobile termination rates in Australia, higher mobile service credits from device repayment plans, but partly offset by higher equipment sales. 2QFY17 EBITDA was 4.4% lower at S$1233m due to investments in content and keen competition in Australia.
2QFY17 reported NPAT declined 5.6% YoY S$972m due to exceptional gains recorded by its associates in 2QFY16. Excluding exceptional items, core NPAT came in flat at S$978m.
For 1HFY17, revenue fell 4.8% YoY to S$7994.2m on similar reasons as 2QFY17. However, with an increase in associates post-tax underlying profit contributions of 15%, mainly from Telkomsel, core NPAT rose 3.4% YoY to S$1933m and met 48.8% of the street?s estimates.
Going forward, Singtel expects FY17 consolidated revenue to decline by low single digit while EBITDA to be stable. Capex is expected to remain at S$2.4b on cash basis and group free cashflow to be ~S$1.5b.
Pending more details from the analyst briefing later, and on recent share price weakness, we place both our Hold rating and S$4.26 FV under review for a possible upgrade.
Source: OCBC Research - 10 Nov 2016
Govt will also have a high % of share in the 4th Telco.
You can see that Government control majority shares of SINGTEL STARHUB M1 through different subisdary
Either merge Starhub with M1 or M1 with Starhub...they can do whatever to create value after the 4th telco comes out...
this one walking backwards ..... 
singtel still abit pricey..compare to starhub m1...
singtel still abit pricey..compare to starhub m1...
Singtel posts 5.6% drop in Q2 profit on absence of one-off gains
SINGAPORE - Singtel announced on Thursday (Nov 10) a 5.6 per cent drop in net profit to S$972 million for its second quarter compared to the year-ago period due to the absence of exceptional gains recorded by Indian associate Airtel last year.
Operating revenue for the three months to Sept 30 rose 2 per cent to S$4.28 billion, excluding excluding the impact of mandated cuts to mobile termination rates in Australia.
The group's underlying net profit was stable for the quarter and grew 3 per cent for the half year.
Singtel said it saw robust performance from its regional mobile associates which continued to grow customers and data usage. Associates' pre-tax profits jumped 7 per cent to S$679 million.
Said Singtel group CEO Chua Sock Koong: "Our associates especially Telkomsel and Airtel performed strongly. Strategic investments in networks and spectrum are paying off as they capture new growth in customers and data usage. The group's customer base increased by 3 per cent to 629 million subscribers, further strengthening our position as South East Asia's largest communications company."
Telkomsel's pre-tax profit jumped 22 per cent as it benefitted from network investments and growth across voice, data and digital businesses. Airtel's pre-tax profits grew a healthy 13 per cent on strong execution and lower fair value losses from Airtel Africa. Airtel further entrenched its network leadership in India with its strategic acquisition of spectrum, giving it nationwide 3G and 4G coverage.
In Thailand, AIS continued to accelerate the ollout of its 4G network, reaching 65 per cent of the population at the end of September 2016 and held its market and network leadership position. However, higher handset subsidies, spectrum amortisation and network depreciation impacted earnings this quarter.
In the Philippines, Globe is investing another US$300 million in network expansion which would see the rollout of more LTE 700 and LTE 2600 sites across key cities nationwide.
Its Singapore business continued its growth trajectory, driven by demand in mobile data and ICT services, particularly cyber security.
On its outlook, Singtel said that taking into account its first half performance and the revision in guidance for the Australian mobile service revenue, operating revenue for the group and for the core business are both expected to decline by low single digits.
But earnings before interest, tax, depreciation and amortisation (EBITDA) for the group and for the core business are both expected to be stable, Singtel added.
The board approved an interim dividend of 6.8 cents per share, representing a payout ratio of 56 per cent of underlying net profit for the half year.
Singapore Telecommunications: 2Q Net Profit Falls 5.6% On-Year
SINGAPORE--Singapore Telecommunications Ltd. (Z74.SG) Thursday reported a 5.6% on-year fall in its fiscal-second quarter net profit due mainly to absence of exceptional gains that the telecom company had in the year-ago period.
Net profit for the July-to-September quarter fell to 972 million Singapore dollars (US$695 million) from S$1.03 billion a year earlier. Group revenue fell 2.3% on-year to S$4.09 billion.
The company's Indian associate Airtel had reported exception gains in the year ago quarter. Absence of such gains weighed on quarterly profit, SingTel said in a stock exchange filing.
SingTel's Australian unit Optus Pte. reported a 20.3% on-year fall in net profit at 184 million Australian dollars, while operating revenue declined 8.7% to A$2.11 billion.
SingTel's share of earnings of its mobile associates in countries including India, Indonesia and Thailand rose by 7.4% on-year to S$679 million.
Write to Saurabh Chaturvedi at saurabh.chaturvedi@wsj.com
(END) Dow Jones Newswires
November 09, 2016 18:28 ET (23:28 GMT)
6.8cent dividend in-line...with expectations
That' s how typical american campaigns n promotions rule everything from politics to comsumerism these days. The rise n rise of brinksmanship n psyschological hypnotism going forward are really scary. Why is the crave of new iphones so damned entrenched in so many users' minds across the globe even though it keeps churning out new models year in, year out without much incremental improvements?
That is not telco fault......is supplier can't meet the demand.....it happen in a lot of country......
Why this counter so jialat these days? Cos till now I still can't get the iPhone 7plus...everyday no stocks. How can a telecom run business like this？ ？
GAP UP LATER-?????
4th TELCO hear say only come on 2Q 3Q of 2017...dividend yield still big big
That is not telco fault......is supplier can't meet the demand.....it happen in a lot of country......
Why this counter so jialat these days? Cos till now I still can't get the iPhone 7plus...everyday no stocks. How can a telecom run business like this？ ？
