Author Topic: Telcos  (Read 1425 times)

Offline zuolun

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Telcos
« on: April 14, 2017, 08:16:39 AM »
SingTel ~ Rounding Top, interim TP S$3.48 next S$3.23

SingTel closed with a spinning top @ S$3.77 (-0.05, -1.3%) with high volume done at 46.9m shares on 13 Apr 2017.

Immediate support @ S$3.70, immediate resistance @ S$3.81.



Rounding Top



Singtel (weekly) ~ Trading in an upward sloping channel



TPG and Vodafone just bought the last of the 700MHz spectrum for $1.5 billion ~ 12 Apr 2017
https://www.gizmodo.com.au/2017/04/tpg-and-vodafone-just-bought-the-last-of-the-700mhz-spectrum-for-1-5-billion/
Singtel's Optus came away from the auction empty handed; without the 700MHz spectrum.

Threat of TPG competition smashes Telstra ~ 12 Apr 2017
http://www.smh.com.au/business/media-and-marketing/threat-of-tpg-competition-smashes-telstra-20170412-gvjs7g.html

TPG to build own mobile network after $1.2b spectrum splurge ~ 12 Apr 2017
http://www.smh.com.au/business/media-and-marketing/tpg-to-build-own-mobile-network-after-12b-spectrum-splurge-20170404-gvd6xr.html
"Industry insiders were shocked by the price for the two times 10 MHz purchase, saying it was among the most expensive spectrum bought anywhere in the world. Vodafone meanwhile secured two times 5 MHz for $285.9 million, the Australian Communications and Media Authority said, while Optus emerged from the auction empty-handed."

Why the Telstra Corporation Ltd share price has been smacked today ~ 12 Apr 2017
http://www.fool.com.au/2017/04/12/why-the-telstra-corporation-ltd-share-price-has-been-smacked-today/
The Telstra share price dropped as much as 7.2% this morning – the most in 3 years – to a low of $4.23. It has since rebounded marginally to trade 6.4% lower at $4.27, but that will come as little consolation to shareholders. Telstra is by and large Australia’s dominant telco, ahead of Vodafone and Optus. The entry of a fourth major mobile operator, being TPG, could see customers leave those established networks in favour of the new one. The additional competition could also force prices to drop, which would do no favours for Telstra’s bottom line.



Singtel: S&P and Moody’s rating

7 Apr 2017

In the telco sector, shares of Singtel ended $0.01 weaker at $3.91 on volume of 12.7 million. Moody's Investors Service said that the high cost of the just-concluded spectrum auctions is credit negative for Singtel as it will further increase debt at a time when leverage is testing Moody's tolerance range for Singtel's Aa3 rating level.

"Singtel acquired 40MHz in the 700MHz frequency band, 20MHz in the 900MHz band, and 15MHz in the 2500MHz band for an aggregate price of $563.7 million, and plans to fund the spectrum through a combination of cash and additional bank debt", said Moody's.

"The spectrum payment needs to be made upfront, however, Singtel may apply to the Info-Communications Media Development Authority to defer payment of the 700 MHz spectrum fees to a date no later than six months prior to the commencement of the 700 MHz spectrum rights."

S&P Global Ratings said that Singtel had limited ability to pass on the spectrum costs to consumers, due to the increased competition in the telco market with the entry of a fourth firm.

"We believe that, until Singtel receives the Netlink Trust IPO proceeds, it has no financial headroom under the current rating against operating underperformance or additional debt-funded acquisitions," said S&P.

Here’s more from Moody’s:
  • Singtel's higher leverage is somewhat mitigated by its stakes in several non-core assets, some of which the company plans to monetise. In this regard, Moody's expects the company to use the majority of its proceeds from the expected sale of its stake in NetLink Trust (unrated) to reduce debt levels. The deadline for divestment from NetLink Trust is April 2018.
  • Furthermore, the company needs to embark on a well-defined deleveraging strategy which results in a permanent reduction in debt. Any delay in execution of its deleveraging plans could lead to negative ratings action.
  • Downward rating pressure could also arise if the company undertakes further material capital returns in the near term, potentially in conjunction with a cash/debt-funded acquisition, and/or there is evidence of prospective weakness in operating results within the company's operations in Singapore and Australia or in cash dividends received from overseas associates.
  • A rating upgrade is unlikely over the next two to three years. However, Singtel's fundamental credit strength may experience upward pressure if overall profitability improves, coupled with a paring down of debt in absolute terms, such that adjusted EBITDA margins exceed 35%-40%, and adjusted net debt/EBITDA falls below 1.3x on a consistent basis (based on cash dividends from associates added back to EBITDA).

TPG spends SG$23.8m on more Singapore mobile broadband spectrum ~ 5 Apr 2017
http://www.zdnet.com/article/tpg-spends-sg23-8m-on-more-singapore-mobile-broadband-spectrum/
Singtel paid 75MHz for S$563.7m, while StarHub paid 60MHz for S$349.6m. M1 paid S$208m for 30MHz and TPG paid S$23.8 m for 10MHz on mobile broadband spectrum. A report by Fitch Ratings found that aggressive bidding in the spectrum auction is a clear indication of rising telecom competition.



Singapore to raise US$815m from spectrum auction ~ 5 Apr 2017
http://www.telecomasia.net/content/singapore-raise-815m-spectrum-auction

Fitch sees rising telco competition in Singapore ~ 5 Apr 2017
http://www.thestar.com.my/business/business-news/2017/04/05/fitch-sees-rising-telco-competition-in-singapore/
The higher prices of the just-concluded spectrum auctions will result in increased debt.



Telcos' shares fall on concerns over new entrant's impact

Singtel least affected as its exposure to S'pore market is smaller compared to StarHub, M1

By Wong Wei Han
16 Dec 2016

Investors sold down shares of Singtel, StarHub and M1 yesterday after the nation's fourth telco operator was announced.

All three incumbents took a hit as investors fretted over their earnings outlook given the arrival of the new kid on the block.



TPG Telecom was named late on Wednesday as the winner of the spectrum rights bid, ending months of speculation.

The rights will start on April 1 next year, and TPG Telecom - an Australian firm - is required to roll out nationwide 4G coverage in the 18 months after that.

The market clearly did not like the news. Singtel shares were least affected, paring 0.8 per cent to $3.73 but StarHub slid 3.1 per cent to $2.81 and M1 sank 3.47 per cent to $1.95.

These reactions reflected concerns around earnings weakness and loss of market share among the incumbent players, in a market that already has a mobile penetration rate of around 150 per cent.

DBS analyst Sachin Mittal expects TPG Telecom to gain some 8.5 per cent of mobile revenue share by 2022, while overall revenue share can hit as high as 10 per cent of the market over the same period.

"We project StarHub's earnings to contract by 25 per cent and M1 by 41 per cent in financial year 2022 versus 2015, due to higher revenue share loss," Mr Mittal said in a note yesterday.

As a result, DBS believes StarHub and M1 shares are fully valued - its target price is $2.65 for StarHub and $1.78 for M1.

Singtel will also be vulnerable, but market watchers believe the industry leader is best placed to weather the challenges from the new entrant.

"We expect Singtel's earnings to stay resilient due to limited Singapore mobile business exposure and dominant position with enough scale to help mitigate new entrant impact," OCBC analyst Eugene Chua said in a report last week.

Only around a quarter of Singtel's earnings before interest, tax, depreciation and amortisation was from Singapore, compared with the 100 per cent exposure to Singapore that StarHub and M1 have.

These factors are important as investors need to adopt a more selective approach to the telco stocks, long seen as stable yield plays around which a portfolio is built.

"In the past, given the defensive business of telcos, we would recommend investors to pick up telco stocks during such pullbacks. That, however, has changed. With the impending fourth telco entry, those with high Singapore exposure are no longer as defensive as they used to be," Mr Chua noted.

OCBC has thus given Singtel a fair value of $4.27 with a buy call. StarHub has a fair value of $3.05 while M1's is at $2.08 - both with a hold rating.

Singtel hires three banks for up to $2.5 billion NetLink IPO ~ 17 Nov 2016
http://www.reuters.com/article/us-netlink-trust-ipo-idUSKBN13C1GV
Singtel's Group CEO Chua Sock Koong previously said it wanted to reduce its stake in NetLink to less than 25%.

SingTel fighting $330 million tax bill from 2001 Optus purchase
http://www.smh.com.au/business/media-and-marketing/singtel-fighting-330-million-tax-bill-from-2001-optus-purchase-20161110-gsmgwr.html

By Lucy Battersby
10 November 2016

Singapore Telecommunications will "vigorously defend" a $326 million tax bill it received last week from the Australian Tax Office, dating back to its takeover of Optus in 2001 for $17.2 billion.

This is the first time Singtel has revealed the size of the potential bill. Singapore Telecom Australia Investments Pty Ltd first received a tax position paper from ATO in late 2013, and then a Statement of Audit in late 2014.



In 2015, Singtel received a final Statement of Audit Position, and then in July this year it received the outcome of an Independent Review, an internal service offered by the ATO to large corporations.It informed shareholders in it's first quarter results that Singtel has not yet made a provision for the tax bill.

And then on Thursday Singtel noted in its quarterly results it may pay the tax bill from the current financial year's free cash flow. It estimates free cash flow of $1.4 billion, but a footnote added this figure is "excluding payment to the Australian Tax Office (ATO) in respect of the amended assessments received on 2 November 2016 from the determinations on the acquisition financing of Optus".

A spokeswoman confirmed it had received an updated assessment.

"The amended assessments amount to A$326 million, comprising primary tax of A$268 million and interest of A$58 million. We intend to vigorously defend the claim, including pursing all avenues of objection as appropriate," she said.

A spokesperson for the ATO declined to comment on Singtel's case, but said it is "resolutely tackling tax avoidance and ensuring multinationals and large companies pay the right amount of tax in Australia".

"We have been overt that we are actively pursuing intra-company financing and other arrangements multinationals and large companies put in place to avoid paying tax in Australia. The majority of large corporates pay the right amount of tax in Australia and are open and transparent in their dealings with us."

Singtel-Optus chief executive Allen Lew.



This is the second tax dispute involving the 2001 deal. Last year the ATO won a court case with the company that sold Optus to Singtel, Cable & Wireless, which wanted a $452.45 million tax refund.

The London-based Cable & Wireless sold it's 82 per cent stake in Optus to Singtel for $6.2 billion 15 years ago. It has been working for years to win the funds from the ATO, claiming that of the $586.9 million deposited with ANZ in September 2001 to pay tax to the Commonwealth of Australia, just $134.5 million was legal.

Offline zuolun

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Re: Telcos
« Reply #1 on: April 14, 2017, 01:44:37 PM »
Why Citigroup just slashed its TPG Telecom Ltd share price target ~ 13 Apr 2017
http://www.fool.com.au/2017/04/13/why-citigroup-just-slashed-its-tpg-telecom-ltd-share-price-target/
TPG’s dividend payout is likely to come under pressure over the next couple of years and given that stocks are generally priced on estimates of their future cash flows this is likely to keep a lid on the share price over the short term. The big 21% discount to the last traded price for the capital raising may also create some very short-term selling pressure on the shares.

TPG's David Teoh says mobile win is the cost of securing future profits ~ 13 Apr 2017
http://www.afr.com/business/telecommunications/tpgs-david-teoh-says-mobile-win-is-the-cost-of-securing-future-profits-20170413-gvkegv
However, the price was bid up by rival Optus which was also hoping to get its hands on the valuable 700 MHz spectrum, but ultimately bowed out because it couldn't justify the price - and had previously bought some of the same spectrum in 2013.

Macquarie launches $400m TPG Telecom raising ~ 12 Apr 2017
http://www.afr.com/street-talk/macquarie-launches-400m-tpg-telecom-raising-20170411-gvj6nh
  • TPG launched a $400 million rights issue offering shareholders one new share for every 11.13 already owned.
  • New shares were being sold for $5.25 each, which was a 20.2% discount to the last close $6.66 and an 18.9% discount to the theoretical ex-rights price.
  • Funds raised were to go towards TPG's $1.9 billion plans to build a mobile network, including its spectrum purchase.
Fund managers brace for TPG Telecom raising ~ 12 Apr 2017
http://www.afr.com/street-talk/fund-managers-brace-for-tpg-telecom-raising-20170411-gvj5zs

TPG's last traded price was at $6.66 per share on 11 Apr 2017.



TPG Telecom (TPM) Weekly Chart ~ 5 Mar 2017
TPG made a high of $12.93 in August 2016.



TPG closed low at A$7.02 (+0.01, +0.14%) on 18 Nov 2016.
TPG hit a high of $12.93 in August 2016 and currently it's down 45.71% or -A$5.91.



What happened to TPG Telecom? ~ 21 Sep 2016
https://www.livewiremarkets.com/wires/what-happened-to-tpg-telecom

TPG made a high of $12.93 in August 2016 and closed at $9.28 on 21 Sep 2016; a drop of 28%.


Offline zuolun

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Re: Telcos
« Reply #2 on: April 15, 2017, 10:41:10 AM »
Optus owner SingTel drops as rival muscles in on Australian 4G

By Peter Wells
12 April 2017

Rising competition in the Australian 4G mobile sector is weighing on the share price of SingTel, which owns one of the major players in the country.

This morning, Sydney-listed TPG Telecom announced it successfully bid for a slice of mobile broadband from the government and would build its own 4G network.

The company, which has been one of the high-growth darlings of the Australian Stock Exchange for many years (up until a surprise profit warning last September), currently buys network access for its mobile products from Vodafone.

The other two incumbents are Telstra, the former government monopoly, and Optus, which is owned by Singapore Telecommunications.

SingTel shares are down 1.3% at their lowest in about two-and-a-half months. That is enough of a drop to make them the worst performer in the benchmark Straits Times index, which is off 0.1 per cent.

Telstra shares are still getting walloped in Australia. The stock is down 7.4% and facing one of its biggest one-day falls since its initial public offering in 1997. Shares had been down as much as 8.6%.

Also suffering on the ASX is Vocus Communications, a smaller telecommunications provider that has also come under increasing competitive pressures in the broadband segment.



Vocus Group Limited (ASX:VOC)
https://au.finance.yahoo.com/chart/VOC.AX
VOC closed @ $3.21 (-0.16, -4.75 %) on 13 Apr 2017.

Plunge: The Vocus Group Ltd share price sinks ~ 12 Apr 2017
http://www.fool.com.au/2017/04/12/plunge-the-vocus-group-ltd-share-price-sinks/
Down 5% today — and 18% in 5 days — the Vocus Group share price has been on a one-way ticket downwards.
Vocus shares have underperformed the market – or S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) — by around 80% in a year.




VOC made a high of $9.40 in May and closed at $6.76; a drop of 28%. ~ 21 Sep 2016



VOC vs TPM vs TLS ~ 21 Sep 2016


Offline zuolun

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Re: Telcos
« Reply #3 on: April 15, 2017, 12:25:58 PM »
Telcos performance chart as at 14 Apr 2017



Malaysia’s Axiata group turns to India for tower deals ~ 2 Apr 2017
http://telecom.economictimes.indiatimes.com/news/malaysias-axiata-group-turns-to-india-for-tower-deals/57983334

India poser for Axiata ~ 25 Mar 2017
http://www.thestar.com.my/business/business-news/2017/03/25/india-poser-for-axiata/
After Vodafone-Idea merger, Axiata may no longer equity-account earnings from Idea.



Axiata: No merger with TM ~ 23 Mar 2017
http://www.nst.com.my/news/2017/03/223751/axiata-no-merger-tm

Axiata shares rise to five-month high on M1 stake review, merger report ~ 20 Mar 2017
http://asia.nikkei.com/Business/AC/Axiata-shares-rise-to-five-month-high-on-M1-stake-review-merger-report
The stock rose to RM5.16, the highest since October 24, before ending Monday 2.2% higher at RM5.08. Axiata, Malaysia's largest telecommunications company by revenue, also reportedly hired Goldman Sachs to explore potential merger with state-controlled fixed-line operator Telekom Malaysia.

Axiata Group's profit sharply lower at RM657mil in FY16 ~  23 Feb 2017
http://www.thestar.com.my/business/business-news/2017/02/23/axiata-group-profit-sharply-lower-at-rm657mil-in-fy16/
Axiata Group Bhd's profit fell 75% to RM657mil in the financial year ended Dec 31, 2016, from the RM2.636bil a year ago as it was impacted by forex exchange losses on US dollar exposed debt for Ncell acquisition.


Offline zuolun

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Re: Telcos
« Reply #4 on: April 18, 2017, 12:56:21 PM »
Telstra under threat from TPG ~ 18 Apr 2017
http://www.fnarena.com/index.php/2017/04/18/telstra-under-threat-from-tpg/
  • Brokers flag caution on expenditure outlook as mobile services are hungry for capital
  • Concerns the roll-out will occur at the same time margins are being compressed by the NBN
  • Likely to become much harder for Telstra to fill its NBN earnings gap
TPG will 'kill Vodafone, not Telstra' ~ 18 Apr 2017
https://www.businessinsider.com.au/mobile-showdown-tpg-will-kill-vodafone-not-telstra-2017-4

Telstra and TPG, who will win share? ~ 18 Apr 2017
https://rogermontgomery.com/telstra-and-tpg-who-will-win-share/
Higher capital investment and fixed costs on a relatively unaffected industry revenue line means lower returns and profitability for the industry in aggregate. Lower sustainable returns mean that the valuation of the businesses falls by more than just the reduction in earnings. Therefore the value of Telstra’s mobile business is not only reduced as a result of the lower forecast base of earnings, but it also needs to be de-rated to reflect the reduction in the sustainable return on capital going forward.



Why TPG Telecom makes Telstra, and its shareholders, nervous ~ 14 Apr 2017
http://www.theaustralian.com.au/business/opinion/stephen-bartholomeusz/why-tpg-telecom-makes-telstra-and-its-shareholders-nervous/news-story/d266010eac983957eebead8462058c77


Offline zuolun

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Re: Telcos
« Reply #5 on: April 18, 2017, 06:53:05 PM »
TPG shares fall after fund raising ~ 18 Apr 2017
http://www.skynews.com.au/business/business/company/2017/04/18/tpg-shares-fall-after-fund-raising.html
TPG shares have dropped close to the entitlement offer price @ $5.25, hitting a low of $5.33 soon after a trading halt was lifted.

Why the TPG Telecom Ltd share price is getting slammed today ~ 18 Apr 2017
http://www.fool.com.au/2017/04/18/why-the-tpg-telecom-ltd-share-price-is-getting-slammed-today/
TPG Telecom Ltd shares gapped down and closed @ $5.50 (-1.08, -16.41%) today after the telco returned to the ASX boards having completed an institutional capital raising for $400 million at $5.25 per share.

TPG savaged in $1b sell-off after mobile network plans revealed ~ 18 Apr 2017
http://www.smh.com.au/business/tpg-savaged-in-1b-selloff-after-mobile-network-plans-revealed-20170418-gvms0h.html
Upon returning to trade on Tuesday morning, TPG shares plunged immediately. From a close of $6.54 per share before it entered the trading halt, TPG shares had dived to $5.42 by midday Tuesday - a drop of 17.8% - before closing at $5.50. Over one billion dollars was wiped from TPG's market value, falling from $5.54 billion to $4.42 billion.


Offline zuolun

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Re: Telcos
« Reply #6 on: April 20, 2017, 05:35:49 PM »
Deutsche Bank slaps $9.71 share price target on TPG Telecom Ltd ~ 20 Apr 2017
http://www.fool.com.au/2017/04/20/deutsche-bank-slaps-9-71-share-price-target-on-tpg-telecom-ltd/

Is TPG Telecom Ltd going to buy Vodafone next? ~ 20 Apr 2017
http://www.fool.com.au/2017/04/20/is-tpg-telecom-ltd-going-to-buy-vodafone-next/
the TPG Telecom Ltd (ASX: TPM) share price has bounced back from yesterday?s heavy decline with a 5% jump to $5.77 during trade today. While the catalyst for this is likely to be a research note from UBS revealing that its analysts have slapped a buy rating and $6.70 price target on its shares, speculation that the telco giant could be interested in acquiring rival Vodafone could also be playing a role in today?s gain.

Telcos suffer $8bn disconnection as TPG dials up risk ~ 19 Apr 2017
http://www.theaustralian.com.au/business/technology/telcos-suffer-8bn-disconnection-as-tpg-dials-up-risk/news-story/c1ca37dbe6c06ae33c752c7d14c8b86b
The brunt of the carnage has been borne by Telstra, which has seen close to $7bn written off its market capitalisation over the Easter period. The telco’s shares have slumped 12% in the past three sessions.

The ACCC could be about to smash the Telstra Corporation Ltd share price ~ 19 Apr 2017
http://www.fool.com.au/2017/04/19/the-accc-could-be-about-to-smash-the-telstra-corporation-ltd-share-price/


Offline zuolun

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Re: Telcos
« Reply #7 on: April 28, 2017, 10:22:55 AM »
Optus axes 320 jobs in strategic shift: ‘not about TPG’ ~ 28 Apr 2017
http://www.theaustralian.com.au/business/companies/optus-axes-320-jobs-in-strategic-shift-not-about-tpg/news-story/7b5c274f5a80fe14b530ca6acf1da530



A $130 billion manager sells Singtel as competition intensifies ~ 28 Apr 2017
https://www.bloomberg.com/news/articles/2017-04-27/a-130-billion-manager-sells-singtel-as-competition-intensifies
“We’ve been decreasing our telecom exposure across the region. Singtel is one of the last holdings we addressed, and we just don’t feel it’s a good place to be right now.”
  • Henderson Global’s Asia funds have cut Singtel equity stake
  • Shares dropped this month on spectrum costs, TPG entry


Australia's mobile networks: All the changes coming in 2020 ~ 26 Apr 2017
https://www.lifehacker.com.au/2017/04/mobile-networks-all-the-changes-coming-in-2020/
City dwellers are spoilt for choice when it comes to which mobile operator they do business with, and consequently there is a great deal of competition for subscriber business.



Celebrity page TV goes Over-The-Top ~ 25 Apr 2017
https://www.benzinga.com/pressreleases/17/04/p9358376/celebrity-page-tv-goes-over-the-top

OTT will become a $65 billion market globally by 2021 ~ 25 Apr 2017
http://www.itwire.com/market/77779-ott-will-become-a-$65-billion-market-globally-by-2021.html

Teoh’s brave mobile play: Is TPG a buy? ~ 19 Apr 2017
http://www.switzer.com.au/the-experts/andrew-main/teohs-brave-mobile-play-is-tpg-a-buy/
Of the 8 houses surveyed by FNArena, only 2 have the stock as a buy or an overweight. And 2 of them – Citi and Ord Minnett – have dropped their recommendation. Citi to Neutral from Buy, and Ord down from Hold to Lighten.

Malaysia: KWAP picks $100m stake in Axiata’s telco infra unit ~ 18 Apr 2017
http://www.dealstreetasia.com/stories/malaysia-kwap-gets-100m-stake-in-axiatas-telco-infra-unit-70560/

Malaysia’s Axiata Digital invests $16.8m into Swedish insurtech BIMA ~ 17 Apr 2017
http://www.dealstreetasia.com/stories/malaysia-insurtech-firm-bima-secures-16-8m-axiata-digital-70422/



OTT blossoms across Asia ~ 14 Apr 2017
http://worldscreen.com/tvasia/special-report-ott-blossoms-across-asia/
OTT is a term used in broadcasting and technology business reporting to refer to audio, video, and other media transmitted via the Internet as a standalone product, that is, without an operator of multiple cable or direct-broadcast satellite television systems (so-called multiple-system operators) controlling or distributing the content.


Offline zuolun

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Re: Telcos
« Reply #8 on: April 28, 2017, 01:10:46 PM »
An introduction to Wi-Fi mesh networking with the Singtel Wi-Fi Mesh ~ 26 Apr 2017
https://sg.news.yahoo.com/introduction-wi-fi-mesh-networking-singtel-wi-fi-054234057.html

Why your next Wi-Fi setup should be a mesh network ~ 26 Apr 2017
https://www.nytimes.com/2017/04/26/technology/personaltech/mesh-network-vs-router.html
The next time you upgrade your Wi-Fi equipment, take a bold step: Throw out your stand-alone router and instead consider investing in a so-called mesh system.


Offline zuolun

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Re: Telcos
« Reply #9 on: April 29, 2017, 08:08:40 AM »
China Coal Miner said to vie for Singapore mobile carrier M1 ~ 27 Apr 2017
https://www.bloomberg.com/news/articles/2017-04-27/chinese-coal-miner-said-to-vie-for-singapore-mobile-carrier-m1
Axiata has a 29% stake in M1, while Keppel has a 19% holding and Singapore Press owns 13%.
  • Shanxi Meijin Energy, China Broadband submit separate bids
  • Bahrain Telecom, private equity funds also make offers


Here's why firms may be interested in M1's potential sale

28 Apr 2017

Singapore has a close to 150% telco penetration rate.

With the news of the potential sale of Singapore telco giant M1 amidst the strategic review being conducted by its key shareholders – Keppel T&T, Axiata Group Bhd (Axiata) and SPH – investors will be taking the chance of grabbing a slice of Singapore's competitive telco market.

According to DBS, there are four reasons why potential bidders would be interested in M1:

For starters, foreign telcos with strong cash and balance sheets may be looking to expand their reach beyond their home bases. DBS explained that telco takeover deals may be hard to come by as regulators might attempt to block such deals, citing antitrust concerns, or national interests at stake. However, Singapore's mature telco market with close to 150% penetration rate and good telco infrastructure in place may attract foreign investors to place their bids on the table for M1.

DBS added that PE firms that may have existing stakes in other foreign telco or telco assets may be interested in taking M1 private, with the possibility of relisting the entire portfolio of telco assets thereafter.

Firms within the telco sphere such as telco equipment manufacturers may also express their interest in investing in telcos to expand their reach along the value chain.

Other companies not belonging to the already given firm categories may be interested in M1 as this could be an opportunity for them to make a foray into the telco scene and diversify.

Offline zuolun

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Re: Telcos
« Reply #10 on: May 01, 2017, 10:33:20 AM »
Chunghwa Telecom (CHT) Q1 earnings fall Y/Y, revenues grow ~ 28 Apr 2017
http://www.nasdaq.com/article/chunghwa-telecom-cht-q1-earnings-fall-yy-revenues-grow-cm780952

Chunghwa Telecom Co., Ltd. Price, Consensus and EPS Surprise



4G growth fuels solid Q1 gains for China Telecom ~ 28 Apr 2017
https://www.mobileworldlive.com/featured-content/top-three/china-telecom-sees-solid-q1-gains-4g-growth-continues/



Digi posts RM373mil Q1 net profit, declares 4.7 sen dividend ~ 28 Apr 2017
http://www.thestar.com.my/business/business-news/2017/04/28/digi-posts-rm373mil-q1-net-profit-declares-4-7-sen-dividend/
Digi’s revenue in the first quarter fell 4.8% to RM1.57bil against RM1.65bil a year ago. Its earnings per share fell to 4.80 sen in the first quarter against 5.13 sen a year ago.



Maxis posts higher normalised profit after tax at RM510m in Q1FY17, div 5c ~ 27 Apr 2017
http://www.thestar.com.my/business/business-news/2017/04/27/maxis-posts-higher-normalised-profit-after-tax-at-rm510m-in-q1fy17-div-5c/
In terms of earnings, Maxis reported a decline to RM505mil from RM518mil a year ago. Total revenue rose 0.8% to RM2.157bil from RM2.140bil. Earnings per share were 6.7 sen compared with 6.9 sen. It declared an interim dividend of five sen a share, similar to a year ago.



China Mobile to cut roaming costs in 64 countries ~ 27 Apr 2017
https://www.globaltelecomsbusiness.com/article/b12rb98p6yyd5y/china-mobile-to-cut-roaming-costs-in-64-countries

China's fixed-line broadband penetration rate to hit 63% this year ~ 27 Apr 2017
https://www.chinamoneynetwork.com/2017/04/27/chinas-fixed-line-broadband-penetration-rate-to-hit-63-this-year
According to the country's the 13th Five-Year Plan, the fixed-line broadband and mobile broadband penetration rate will hit 70% and 80% respectively in China by the year 2020.

Singapore's baby bell rings in China ~ 27 Apr 2017
https://www.bloomberg.com/gadfly/articles/2017-04-27/m1-s-profit-bell-reaches-from-singapore-to-a-chinese-coal-mine





China Mobile denies it plans to buy stake in Singapore firm M1 ~ 24 Apr 2017
http://www.chinadaily.com.cn/business/tech/2017-04/24/content_29061022.htm

China Unicom returns to profit in Q1 ~ 24 Apr 2017
https://www.mobileworldlive.com/featured-content/top-three/china-unicom-returns-to-profit-in-q1/



2017 Telecommunications Trends
https://www.strategyand.pwc.com/trend/2017-telecommunications-industry-trends

Offline zuolun

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Re: Telcos
« Reply #11 on: May 10, 2017, 02:35:12 PM »
Starhub ~ Fall off the cliff

Starhub closed with a black marubozu @ S$2.72 with 3.42m shares done on 9 May 2017.

Immediate support @ S$2.68, immediate resistance @ S$2.76.



Starhub ~ Fall off the cliff

Starhub closed with a black marubozu @ S$3.31 (-0.02, -0.6%) with 3.46m shares done on 22 Jan 2016.

Immediate support @ S$3.27, immediate resistance @ S$3.37.


Offline zuolun

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Re: Telcos
« Reply #12 on: May 18, 2017, 03:17:33 PM »
Singtel loses mobile market share as revenues dip ~ 18 May 2017
http://www.zdnet.com/article/singtel-loses-mobile-market-share-as-revenues-dip/
Singtel has announced that its mobile communications operating revenue dropped from SG$6.7 billion to SG$5.93 billion over the last year, with a loss in overall Singaporean mobile market customer share.

Singtel reports S$3.85b full-year net profit ~ 18 May 2017
http://www.channelnewsasia.com/news/business/singtel-reports-s-3-85b-full-year-net-profit-8859448


Offline zuolun

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Re: Telcos
« Reply #13 on: May 25, 2017, 12:41:43 PM »
Malaysia: Axiata leads $23m Series B in Australia’s adtech startup Unlockd ~ 25 May 2017
https://www.dealstreetasia.com/stories/malaysia-unlockd-axiata-23m-series-b-73424/

Are telcos' customers expecting too much of IoT connectivity techs? ~ 24 May 2017
https://www.theregister.co.uk/2017/05/24/nb_iot_customers_expecting_too_much/

Singapore: Frequency fees for 5G trials waived to speed up roll-out ~ 23 May 2017
http://www.todayonline.com/singapore/free-5g-trials-use-virtual-reality-among-drive-fuel-digital-economy

O2 will be carrying out UK IoT connectivity trials later this year ~ 22 May 2017
https://www.theregister.co.uk/2017/05/22/o2_iot_connectivity_trials_uk/

Offline zuolun

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Re: Telcos
« Reply #14 on: May 29, 2017, 03:05:28 PM »
Axiata hit by losses in India ~ 29 May 2017
http://www.theedgemarkets.com/article/axiata-hit-losses-india
The increase in Axiata’s revenue was mainly due to new contribution from Nepal and higher revenues in Bangladesh and Cambodia. Meanwhile, Malaysia reported a 3.4% drop in revenue.

Unlockd enters strategic partnership with Axiata Digital ~ 29 May 2017
http://www.marketing-interactive.com/unlockd-enters-strategic-partnership-with-axiata-digital/

Axiata Group 1Q net profit falls 35% ~ 25 May 2017
http://www.foxbusiness.com/features/2017/05/25/axiata-group-1q-net-profit-falls-35.html
Axiata's first-quarter net profit slumped 35% from a year earlier, due mainly to higher depreciation and amortization charges, coupled with higher finance costs and share of losses from associates.

Vodafone hit hard by losses at India unit ~ 16 May 2017
http://www.thehindubusinessline.com/info-tech/vodafone-hit-hard-by-losses-at-india-unit/article9702566.ece
Vodafone Plc on Tuesday posted a $6.71-billion loss for the year ended March, mainly due to mounting losses at its India unit. The British major had to write down nearly $4 billion on account of the India operations, which is now being merged with Idea Cellular.

Bharti Airtel’s cost controls cushion Reliance Jio’s impact, but worst yet to come ~ 11 May 2017
http://www.livemint.com/Money/9u6Xf9jW06prhgOwbzAZVO/Bhartil-Airtels-cost-controls-cushion-Reliance-Jios-impact.html



Bharti Airtel Q4 profit falls 72% amid Reliance Jio onslaught ~ 10 May 2017
http://www.livemint.com/Companies/mVl8rwxysug3DcuFiLpP5J/Airtel-Q4-profit-plunges-72-to-Rs3734-crore.html