Singapore Stock Market News

Singapore Telecommunications - 1QFY19 a slight miss; Outlook still uncertain

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Publish date: Mon, 13 Aug 2018, 02:35 PM
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General headwinds. Trim TP 3% to SGD3.46
Several of Singtel's operations encountered headwinds in 1QFY19, particularly those in Indonesia and India. Consequently, core profit was only 21%/19% of MKE/consensus. We reduce our FY19E/20E core profit by 11%/13% and our DCF-based SOTP TP (Fig 3) by 3% to SGD3.46. Our outlook for SingTel and the industry at large will depend on the extent of competition once the fourth operator TPG enters the market. Maintain HOLD. Read More
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