Singtel shares

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  • #25861

    Research Department
    Replying to #


    How is Singtel share after S&P downgrade the rating?



    The downgrade is on its outlook, not credit rating as of yet. The downgrade on Singtel’s outlook is a non-event. In fact, a bit late as moody’s downgrade was close to 6 mths ago. Operationally most of its regional investments have recovered quite substantially. Group net debt/EBITDA is ~2 similar to the average of its peers regionally.


    Research Department
    Replying to #

    Question #2.

    Singtel down by 9 cents. It is quite substantial.
    Any news of recent development that cause it?



    The share price weakness recently could be due to poor market sentiment.

    Fundamentally no changes in Singtel.

    Large earnings overhang:
    1. Weakness from Bharti Airtel ( dragged by investments in network expansion, although competition is improving)
    2. Headwinds in the enterprise segment in Singapore and Australia ( pricing pressure from contract renewals, a slowdown in business activities and erosion of core carriage services)

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