Singapore Stock Market News

Singapore Telco - Now and then

StockFanatic
Publish date: Thu, 02 Jul 2015, 08:30 PM
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Singapore telcos have been largely unaffected by past crises and we expect it to be no different if Grexit sparks off a new crisis. Telco services are fairly low-ticket items and are considered by many consumers as non-discretionary spending. Instead, investors are likely to be more concerned about the possible entry of a fourth mobile operator. We stay Neutral on the sector as valuationshave yet to drop to truly attractive levels and we remain concerned about a possible knee-jerk reaction should the entry of a new mobile player into Singapore be confirmed. We maintain a Hold call on SingTel, StarHub and M1. We prefer Telkom, Thaicom and Indosat for ASEAN telcos.
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