Competition Ramping Up in Singapore, Australia, and Key Singtel Associates; FVE Down to SGD 2.85
We lower our fair value estimate for Singtel to SGD 2.85 per share from SGD 3.20 per share following the release of broadly in-line fiscal 2018 results, owing mainly to declining fortunes at its associates and unfavorable currency movements. Singtel’s fourth-quarter 2018 (quarter ended March 2018) showed continued market share gains in Australia, but both the Australian and Singaporean mobile markets are suffering increased competition ahead of TPG's launch as a fourth entrant in both markets. H...Singapore Telecommunications is engaged in the operation and provision of telecommunications systems and services, and investment holding. Co. provides a range of multimedia and Information and communications technology solutions, including voice, data and video services over fixed and wireless platforms. Within both Singapore and Australia, Co. provides mobile communications, data and Internet, national telephone, information technology and engineering, sale of equipment, international telephone and pay television. Co.'s key businesses include: Group Consumer, Group Digital L!fe, and Group Information and communications technology.
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