Value Investing For Singapore!

• The close yesterday is only 7 cents away from its peak of $1.30 reached in mid-07. • The “boring” company has well outperformed SingTel, which still owns 25% of it: Sing Post started the year at $1.02 and Sing Tel at where it is currently ($3.10 yesterday). • One development which we would not rule out [...]

Cash falling from the Sky • SPH estimated to have collected S$429m cash from Sky11 on TOP, equating to 27Scts/share • Final/special dividend could exceed consensus’ expectations; we expect 24 Scts/5.7% final yield • Buy ahead of full year results on 12 Oct. Reiterate Buy, SOP backed TP raised to S$4.52 Expect above-consensus final dividend; we look for 24 [...]

Telco stocks slip on fears of keener competition High mobile penetration makes it unlikely for new player to bid for final 3G spectrum TELCO stocks fell yesterday on concerns that more competitors may join the market, after the government announced that it is seeking bids for its final third-generation (3G) mobile spectrum. But market watchers felt that the [...]

  STI = 3011.42 (-24.67) Stock Period EPS cts DPS cts Mkt Yield PE Div Breakdown SPH FY09 (Aug) 26 25 $4.18 5.981% 16.08 Interim 7ct ; Final 9ct + 9ct (Special) SingPost FY10 (Mar) 8.563 6.25 $1.23 5.081% 14.36 Q1, Q2, Q3 1.25ct ; Q4 2.5ct STI ETF Jun-10 – 3 $3.05 1.967% – Jun10 3ct ; Dec09 3ct [...]

3G spectrum sale as bargaining chip? • Three lots of 3G spectrum on sale with three potential bidders. • Theoretically a fourth operator can participate in the auction, practically no one should be interested. • This could be a bargaining chip in the hands of SingTel. • Prefer SingTel and M1 to StarHub. Three lots of 3G spectrum on sale. [...]

Eyeing Cable & Wireless? Departure from emerging-market assets Maintain Underperform. Citing bankers, the media has reported that SingTel is considering a bid for Cable & Wireless Worldwide, a global provider of corporate fixed voice and data services. The key surprise is that SingTel appears to be moving away from pursuing mobile assets in developing countries to fixed-line [...]

Set for bumper profits Event • Robust demand for display and job ads during 9M10, as well as sizeable property development profits, appears to have set the Singapore Press Holdings (SPH) on course to report a record net profit for FY Aug10 when it announces its full‐year results, likely on 12 October. Though sales growth in the [...]

SingTel may get boost in Europe through Cable & Wireless Singapore Telecom will be able to stake a major claim to European markets if it acquires Cable and Wireless Worldwide (C&WW), but the integration of these two giants could be challenging at first, analysts say. On Sunday, British daily The Independent said SingTel is considering a bid [...]

Launch of NGNBN • StarHub held a media conference on its plans and solutions for NGNBN • Raise our revenue and net profit estimates • Maintain Hold and raise fair value from S$2.16 to S$2.41 Media conference StarHub held a media conference on 2 September 2010 to launch its plans and solutions for the Next Generation National Broadband Network (NGNBN). [...]