Singtel has just launched a new app called myBusiness E.Payslip to help SMEs create, print and keep soft-copies of monthly payslips. Singtel says the app will enable SMEs without these capabilities to comply with the government’s requirement for employers to issue itemized payslips from 1 Apr 2016.

According to Singtel, employers can access the app globally via the internet and on any mobile devices – employers can also provide their employees with secured access to view and print their own payslips anytime. The app mainly targets SMEs with up to 50 employees; and companies with less than five employee records can access the service for free.

We believe the move is a move in the right direction to increase Singtel’s stickiness with the SMEs and beef up its e-solutions business. We have a BUY on the telco with a fair value of S$4.17.

Source: OCBC Research - 26 Jan 2016