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Help on Singtel Mobile Plans
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Octavia
Elite |
22-Nov-2013 09:28
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The IDA has approved SingTet?s acquisition of an indirect 100% stake in OpenNet, though to prevent anti-competition, SingTel will not be able to influence mgt and major operational decisions of OpenNet. As background, SingTel will own CityNet, a trustee-manager of NetLink Trust, which in turn will acquire 100% of OpenNet from Axia NGNetworks, SP Telecoms, SPH and SingTel, for an aggregate consideration of $126m. Specifically for SingTel, its original 30% stake in OpenNet will be sold for a consideration of $37.8m. Nevertheless Deutsche does not expect material divestment gains on the back of the latest transaction. With the termination of existing service and lease agreements with OpenNet, SingTel will cease to book an estimated $55m in annual revenues from OpenNet going forward. But the net impact on SingTel?s earnings will be minimal, given the OpenNet revenues were merely passed through to NetLink Trust under the previous structure. Deutsche believes a more interesting development would be SingTel?s obligatory divestment of NetLink Trust (to < 25%), which, under this proposal, has been extended to Apr 2018 (from Apl 2014). Assuming a 76% stake divestment and NetLink Trust value at $1.89b (as per SingTel?s initial sale of assets into the business trust), this would imply total sale proceeds of $1.44b. Further assuming full shareholder return of these proceeds, a special dividend of up to 9¢ per SingTel share appears possible. The house maintains its Buy rating and TP $4.30. |
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Octavia
Elite |
20-Nov-2013 09:38
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StanChart tips the bottom for Bharti's prolonged decline in returns, led by fundamental improvements across segments. Further upside is possible from faster data growth and turnaround in Africa, besides the potential to monetise or hive off some of its other businesses. Relatively, Bharti is much better placed in terms of sufficiency of data spectrum and hence carries a lower risk of dilution of its return of capital employed (RoCE) trajectory vs. its peers. House believe that Bharti?s Africa assets are under-utilised and there is scope for significant improvement. The gradual rise should continue as management?s current focus is on improving the utilisation of African assets rather than investing in capacity/coverage expansion. SingTel recently raised its stake in the associate to 32.34%, in a bid to focus on maximizing the value of its existing businesses. Latest broker ratings on Bharti Airtel: StanChart has an OUTPERFORM with INR404 TP, translating to a 17% upside from its current price. CLSA has an UNDERPERFORM with INR315 TP. |
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PeachDew
Member |
16-Oct-2013 22:54
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I couldn't find a forum for singtel so i hope you guys are willing to help ^_^ Regarding the student plan, does it only count smses sent to other Singtel mobile phones and charge the ones sent to other companies or does it include all the companies. And is it possible to switch to another plan halfway through a contract? Cheers Peach |
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