|Bid||2.5800 x 0|
|Ask||2.5900 x 0|
|Day's range||2.5800 - 2.6600|
|52-week range||2.1900 - 3.5600|
|Beta (5Y monthly)||0.60|
|PE ratio (TTM)||28.67|
|Earnings date||06 Aug 2020 - 10 Aug 2020|
|Forward dividend & yield||0.11 (4.24%)|
|Ex-dividend date||04 Aug 2020|
|1y target est||3.70|
Bidders for five Singapore digital bank licences on offer will have to factor in how the COVID-19 outbreak has impacted their funding and profitability plans, as the central bank kicks off interviews with applicants over the next few weeks, three sources aware of the matter said. Singapore has drawn interest from 21 applicants seeking to shake up its banking landscape in what would be its biggest liberalisation in two decades. Singapore is issuing up to two digital retail and three wholesale bank licences, and bidders need S$1.5 billion ($1.1 billion) in paid-up capital.
Singapore's largest telco reported its full fiscal year 2020 earnings today. We take a look at four key aspects of it.The post Singtel Slashes its Dividend: 4 Takeaways from the Telco’s FY 2020 Earnings appeared first on The Smart Investor.
Shares of Southeast Asia's largest telco fell as much as 4% after it reported a net profit of S$1.075 billion ($754 million) for the year ended March - the weakest since at least 1998. Underlying net profit, which excludes exceptional items, fell 13% to S$2.457 billion. Singtel almost halved its final dividend to 5.45 Singapore cents a share, saying it wanted to preserve financial headroom to cope with uncertainties in the current COVID-19 operating environment and the capacity to invest in 5G.
Singapore Telecommunications Ltd on Thursday said full-year net profit plummeted 65.2% as it faced tough competition in Australia and took a S$1.80 billion ($1.27 billion) hit related to its stake in Bharti Airtel Ltd's. Singtel, Southeast Asia's largest telco, reported net profit of S$1.07 billion for the year ended March, compared with S$3.10 billion a year earlier. Underlying net profit, which excludes exceptional items, fell 13% to S$2.46 billion.
Hooq, a five-year-old on-demand video streaming service that aimed to become “Netflix for Southeast Asia,” has shut down weeks after filing for liquidation and terminated its partnerships with Disney’s Hotstar, ride-hailing giant Grab, and Indonesia’s VideoMax. Hooq Digital, a joint venture among Singapore telecom group Singtel (majority owner), Sony Pictures, and Warner Bros Entertainment, discontinued the service on Thursday. It had amassed over 80 million subscribers in nearly half of the dozen markets in Asia.
* Singapore closes at highest since April 20 * Extended lockdown in Singapore to help Singtel - analyst * Philippines cenbank warns of annual GDP contraction By Nikhil Subba April 27 (Reuters) - Most Southeast Asian stock markets closed higher on Monday, led by Singapore, after Japan announced further measures to blunt the economic damage caused by the coronavirus pandemic. The Bank of Japan (BOJ) expanded monetary stimulus on Monday and pledged to buy unlimited amount of bonds to keep borrowing costs low, thus cancelling its previous target of 80 trillion yen per year. Investors will also be watching out for further stimulus actions from the U.S. Federal Reserve and European Central Bank when they have their monetary policy meetings later this week.
Singapore Telecommunications' <STEL.SI> (Singtel) subsidiaries have secured close to $3 billion (2.43 billion pounds) in bank credit facilities, it said on Friday. The deals include S$3.45 billion ($2.4 billion) of facilities for Singtel Group Treasury and A$800 million ($510 million) for its Australian subsidiary Optus Finance. The funds will be used for refinancing and general purposes, Singtel said.
* Malaysia top performing regional market * Philippines bucks trend with 1.5% drop By Nikhil Subba April 20 (Reuters) - Most Southeast Asian stock markets rose on Monday, with Malaysia leading gains, as China, the region's prime trading partner, cut a key interest rate and promised more measures to prop up an economy battered by the cornonavirus pandemic. China cut its benchmark lending rate by 20 basis points to 3.85% on expected lines and said it would roll out additional policies to prevent short-term economic shocks from becoming long-term stagnation trends. "We expect further rate declines in the coming months...As employment conditions remain weak and external demand is being held back by lockdowns elsewhere in the world, we think the People's Bank of China will take further steps to prop up activity," analysts at Capital Economics said in a note.
** Italy's biggest commercial broadcaster Mediaset is seeking approval from Germany's competition authority for its recently increased stake in German rival ProsiebenSat.1 , the watchdog's website shows. ** Willis Towers Watson (WTW) has halted plans for a possible sale of its Miller insurance broker, citing uncertainty surrounding the COVID-19 pandemic. ** JPMorgan has reached agreement with its Chinese partner to increase its stake in its Chinese mutual fund venture to 100%, joining BlackRock and Neuberger Berman to grow its presence in the world's second biggest economy.
Singtel said on Friday there was no certainty of a deal to sell its telecom towers in Australia following a media report that the telecom operator was preparing to put the assets estimated A$2 billion ($1.2 billion) on the block. "Singtel regularly reviews its options to optimise its assets and operating model," the firm said in a regulatory filing on Friday. "Singtel wishes to emphasise that there is no certainty or assurance that any transaction will occur."
On-demand video streaming service Hooq said on Friday it has filed for liquidation after it failed to grow rapidly and cover its increasing operating costs. Hooq Digital, a joint venture among Singapore telecom group Singtel (majority owner), Sony Pictures, and Warner Bros Entertainment, said the company sailed through “significant structural changes” in the on-demand video streaming market for five years but is now struggling to provide sustainable returns to investors.
HOOQ Digital, a video streaming service majority owned by Singapore Telecommunications Ltd, said it was filing for liquidation as it had not been able to grow sufficiently to provide sustainable returns nor cover escalating costs. HOOQ was started as a joint venture in 2015 between Singtel, Sony Pictures Television and Warner Bros Entertainment. The liquidation is not expected to have any material impact on the net tangible assets or earnings per share of Singtel, the telecom operator said in a filing to the stock exchange.
* Singapore Q1 GDP contracts more than expected * Singapore set to announce additional stimulus package * Indonesia set for best day in 6-1/2 years By Arpit Nayak March 26 (Reuters) - Most South East Asian stocks rose on optimism around a massive U.S. stimulus package, although Singapore shares fell after the city-state cut its annual growth forecast to better reflect the economic damage from the coronavirus pandemic. The U.S. Senate on Wednesday unanimously passed a $2-trillion bill aimed at helping unemployed workers and industries hurt by the virus outbreak. Thailand has put into effect a state of emergency until the end of April, sealing off its borders from non-resident foreigners to contain the virus, though it held off on restricting people's movement inside the country At odds with the regional trend, Singapore stocks eased as much as 2.9% after its economy contracted more than expected in the first quarter.
* Indonesia marks best day in three weeks * Thai cenbank likely to cut rates to new low * Philippine cenbank to buy $5.8 bln govt securities By Arpit Nayak March 24 (Reuters) - Most Southeast Asian stock markets rebounded on Tuesday, as the U.S. Federal Reserve pledged unlimited quantitative easing to support credit markets in a bid to backstop an economy reeling from emergency restrictions to fight the coronavirus. In an unprecedented move, the Fed said on Monday it would make a foray into corporate debt and pledged to buy an unlimited amount of U.S. Treasuries and agency mortgage-backed securities to ease credit strains and provide support to the virus-hit economy. "Asian investors like what they see from an all-in Fed which is being viewed in a very impressive light for both Main and Wall Street, even as the U.S. congress dithers," Stephen Innes, chief global markets strategist at AxiCorp, said in a note.
An Australian court approved a A$15 billion ($10.1 billion) merger between a unit of Britain's Vodafone Group <VOD.L> and internet provider TPG Telecom <TPM.AX> on Thursday, overruling a regulator and enabling a huge rival to the country's top telcos. A Federal Court judge said a tie-up between Vodafone's joint venture with local telco Hutchison Telecommunications (Australia) Ltd <HTA.AX> and TPG would not harm competition, rejecting the Australian Competition and Consumer Commission's (ACCC) reason for blocking the deal last year.
* Further tariff cuts depend on bilateral developments, China says * The Philippine index surges as c.bank commits to 50 bps cuts * Singapore index hits highest close since Jan. 27 By Shruti Sonal Feb 6 (Reuters) - Southeast Asian stocks closed firmer on Thursday after China decided to slash tariffs on some U.S. imports, offering relief to markets that were gripped by slowdown worries amid the coronavirus outbreak. Broader Asian markets clocked in strong gains on news that China - the region's largest trading partner - plans to halve additional tariffs levied against 1,717 U.S. goods last year, even as it reiterated its aim to eventually scrap all tariffs that had been levied during the trade war. Trade-sensitive Singapore shares climbed nearly 1% to hit their highest close since Jan. 27, with index heavyweights Jardine Strategic Holdings and Singapore Telecommunications Ltd ending up 1.3% and 1.5%, respectively.
* WHO declares coronavirus a global health emergency * Singapore posts biggest monthly drop since August * Malaysia closes at an eight-year low By Arpit Nayak Jan 31 (Reuters) - The Philippine and Vietnam indexes slumped over 2% on Friday, while other Southeast Asian stock markets also extended losses to close lower as fears about the spread of coronavirus triggered sell-offs across the region. The World Health Organisation on Thursday declared the virus a global health emergency, as the death toll surpassed the 200-mark in China while at least 22 other countries reported infections. Economists fear the hit to China's economy from the virus could result in a greater economic impact to the world's economy than that of the 2002/2003 Severe Acute Respiratory (SARS) epidemic, since China's share of the global economy is now far greater.
* China's Q4 GDP comes in line with expectations * Singapore's Dec exports post surprise rebound By Anushka Trivedi Jan 17 (Reuters) - Indonesian shares skid on Friday as weak auto sales data weighed on consumer stocks, while most other Southeast Asian markets climbed as a slew of solid data from China lifted investor sentiment. Auto sales in Indonesia declined 1.4% last month, with all major brands reporting weaker numbers than a year earlier. An index of Jakarta's forty-five most liquid stocks was 0.1% lower.
Singapore has drawn huge interest from technology firms looking to shake up the city-state's banking landscape, attracting 21 applications for five digital bank licences on offer. Among firms bidding are Alibaba Group affiliate Ant Financial, a venture between Singapore Telecommunications and Southeast Asian ride-hailer Grab, and a consortium led by gaming firm Razer. Singapore-based internet firm Sea Ltd, a group led by Singapore tycoon Ron Sim's firm V3 Group, and Hong Kong financial services group AMTD's consortium, which includes an affiliate of Xiaomi, has also applied.
China's Ant Financial, an affiliate of ecommerce giant Alibaba Group Holdings, has joined the race for a digital banking licence in Singapore, the company said in a statement on Thursday. The Monetary Authority of Singapore (MAS) has said it will issue five such licences, as it embarks on the biggest liberalisation of its banking sector in two decades. "In line with our commitment to promoting financial inclusion globally, we have submitted an application to the Monetary Authority of Singapore for a digital wholesale banking licence," a spokesperson for the company said in an emailed statement.
Gaming firm Razer Inc said on Thursday it is leading a consortium of companies that has applied for a online bank licence in Singapore, joining the race to shake up the city state's financial sector. Razer's fintech business will have a 60% stake in the consortium that includes insurance firm FWD and Sheng Siong Holdings, a private vehicle of the Lim brothers behind a Singaporean supermarket chain.
Singapore Telecommunications Ltd (Singtel) <STEL.SI> is teaming up with Southeast Asian ride hailing firm Grab to bid for an online banking licence in Singapore, the first such partnership that could spur a shake-up of the city state's financial sector. The companies said in a joint statement that they will form a partnership, with Grab owning 60% and Singtel holding the remainder to apply for a digital banking licence to serve retail and small and medium enterprises.
* Malaysian equities hit over 4-month high * Singapore reverses early gains to end flat * Thailand little changed after export slump widens By Shruti Sonal Dec 30 (Reuters) - Southeast Asian markets were subdued on Monday as investors remained cautious ahead of the New Year, offsetting optimism about the Phase 1 Sino-U.S. trade deal, while Indonesia snapped a four-day rally dragged down by tech and utility stocks. South China Morning Post quoted a Chinese official saying that Beijing will live up to its trade deal commitments, but the United States must also honour the one-China policy in relation to Taiwan. The remarks come as Beijing and Washington announced a Phase 1 trade deal earlier this month, cooling their 18-month trade conflict that has rattled financial markets and hurt global economic sentiments.
Grab and Singtel, one of the largest telecoms in Singapore, announced today that they are applying for a digital full bank license together. If approved, the license will allow them to offer simple credit and investment products, before progressing to a full-functioning bank if they meet the Monetary Authority of Singapore’s (MAS) criteria. Grab will hold a 60% stake in the consortium, with Singtel holding the other 40%.