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interact2 ( Date: 04-Aug-2009 16:47) Posted:
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interact2 ( Date: 04-Aug-2009 16:47) Posted:
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maxcty ( Date: 04-Aug-2009 15:18) Posted:
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opps.guess I mixed up the date wrongly. sorry.
will I still get dividend if I sold on 7 Aug?
interact2 ( Date: 04-Aug-2009 15:10) Posted:
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TP $3.62-72
Support $3.30-36
SingTel remains a laggard among its top heavyweight counterparts most of whom have seen their monthly MACDs cut signals lines from
Even relatively laggard SIA is experiencing this crossover now (behind current rally) while SGX and UOB have just made their cuts
joining DBS, OCBC, Wilmar, Capland, CityDev, Olam and Noble whose monthly MACDs are now are way above their signal lines.
Besides SingTel, others in the same boat include KepCorp, SCI, SembMarine, SPH, STE and NOL, which reflect their potential to join
other key index stocks in seeing the crossovers in weeks ahead. As for ST, its pullback on eve of its ex-date is interesting as not only it
affords investors the chance to buy for the fairly generous dividend (12-month yield at 3.64%), it also comes ahead of its 1q results due
Aug 13. The stock should remain a trader’s favourite in the run-up moving around $3.36 to recent high of $3.52.
Support should be good at the 13-day moving average ($3.36) coinciding with a key historic support followed by $3.30.
The stock is now slightly below the half way mark ($3.47) between record debut peak of $5 in 1993 and recent crash low of $1.94.
Taking the record low of $1.20 in 2003, the 50% recovery mark is $3.55, just above recent high.
Taking 2007 high of $4.22, the 38.2% retracement of the rally from $1.94, will bring it down to $3.35, at the 13-day MA as well as multi
year support. When it goes ex at mid-week, the counter may fall to around this price unless dividend seekers buy up the stock ahead of Aug 5. While
no dividend is to be expected in the interim earnings report, this does not imply the stock will fall back all the way to $3.30 to next historic
support at $3.14, around the half way mark ($3.10) between $5 and $1.20.
The rising monthly MACD which has some distance to cut its signal line should enable ST to move back to $3.52 and the nearest $3.56
below – a bullish medium term sign.
hurdle followed by $3.62-72 historic targets in weeks ahead.
SINGAPORE (Dow Jones)--Singapore Telecommunications Ltd. (Z74.SG) Monday said it will remain actively involved in due diligence and key aspects of the proposed merger between Merger talks between mobile telecommunications operators Bharti Airtel Ltd.(532454.BY) and MTN Group Ltd. (MTN.JO).
"SingTel will remain a strategic partner and significant shareholder (in Bharti) if a transaction is successful," a SingTel spokeswoman said in a statement.
India's Bharti said earlier Monday that it has extended its exclusive merger talks with South Africa's MTN until Aug. 31 from the initial deadline of July 31. MTN confirmed the extension in a separate statement.
"The structure and terms of the potential transaction may be adjusted to reflect further discussions between the parties," Bharti Airtel said in a statement to the Bombay Stock Exchange.
Bharti and MTN in May revived talks over a complex $23 billion combination that would create one of the 10 largest companies in the mobile telecommunications industry. Their merger talks last year failed as they couldn't reach an agreement on the structure of the deal.
SingTel's stake in Bharti, at around 30%, is widely expected to be diluted should the merger between the two firms materialize. A person familiar with the situation told told Dow Jones Newswires last week that SingTel could be compensated through a stake in MTN, rebuild its position in Bharti through an open-market transaction, or receive Bharti shares in exchange for financial assistance to support the merger.
SingTel Chief Executive Chua Sock Koong said in an interview with CNBC aired late Friday that the discussions between Bharti and MTN are "still in a fairly preliminary stage."
She also said in the interview that SingTel looked at whether it makes economic sense to increase its shareholding in Bharti, but did not say whether the company has decided on how it will proceed should the merger talks succeed.
A SingTel spokeswoman declined to comment on what SingTel might do should its holdings in Bharti be diluted as a result of a successful merger.
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=DJ UPDATE:Bharti Airtel, MTN Extend Exclusive Talks Period To Aug 31
NEW DELHI (Dow Jones)--India's Bharti Airtel Ltd. (532454.BY) said Monday it has extended its exclusive merger talks with South Africa's MTN Group Ltd. (MTN.JO) till Aug. 31 from July 31 earlier. "The structure and terms of the potential transaction may be adjusted to reflect further discussions between the parties," Bharti Airtel said in a statement to the Bombay Stock Exchange. Bharti Airtel, India's largest mobile phone operator by subscribers, and MTN in May revived talks over a complex $23 billion combination. A merger, if it goes through, would create a telecom giant with combined annual revenue of more than $20 billion and more than 200 million subscribers. This is the second attempt at a combination by the two companies. Their merger talks last year failed as they couldn't reach an agreement on the structure of the deal. Bharti Airtel said also that no decision or agreement to acquire any shares or implement the transaction has been taken by the boards of either Bharti or MTN. "...the discussions may or may not lead to any transaction," the statement added. A Mumbai-based analyst, who tracks Bharti Airtel, said the extension of the exclusivity period could be because Bharti would have found it difficult to sell the deal to MTN shareholders under the earlier structure. Under the terms of the deal being discussed, MTN and its shareholders would buy a 36% stake in New Delhi-based Bharti Airtel. The Indian firm will buy a 49% stake in the Johannesburg-based company. The current structure doesn't give MTN shareholders any control or voting rights in Bharti, said the analyst, who didn't want either his name or his employer's name to be mentioned. Bharti Airtel will now have to sweeten the deal for the MTN shareholders, said the analyst. The combined entity would have operations stretching across Africa, the Middle East and Southeast Asia. The two companies have said that MTN would be the vehicle for further expansion in Africa and the Middle East, while Bharti would be used to expand in Asia. MTN has twice failed to secure a tie-up that would have launched it in the Indian market. Talks with Bharti broke down in May 2008 when the companies couldn't agree on issues of control. MTN then began talks with rival Reliance Communications Ltd. (532712.BY) but they also failed. Bharti, like other wireless operators in Asia, has been looking at emerging markets for growth to help boost its revenue base. Africa remains one of the largest undeveloped markets for telecoms companies. News of the extension lifted shares of Bharti Airtel by 0.37% on the Bombay Sensitive Exchange. At 0430 GMT, Bharti Airtel was trading lower at INR412.9, but then jumped to INR417 after the news. MTN currently has a market capitalization of roughly $28 billion, while Bharti's market value is about $33 billion. |
0727 GMT [Dow Jones] STOCK CALL: Nomura raises Singapore Telecom (Z74.SG) target price to S$3.65 from S$3.15 to reflect increasing FY10-FY11 earnings forecasts by 3%-4% upgrade on higher earnings assumptions for Australian business Optus, Indonesian associate Telkomsel, somewhat offset by lower earnings for Indian associate Bharti (532454.BY). Target price hike also partly due to assumption of lower cost of capital in valuation model. Keeps at Buy. Expects 1Q10 results due Aug. 13 to be "solid," as says regional currencies more favorable, earnings stream diversified and defensive; tips 1Q10 net profit to rise 11% on-year to S$972 million. But adds, key uncertainty relates to potential Bharti-MTN deal and possible dilution of SingTel's 30% share holding in Bharti. Shares +0.9% at S$3.43; STI +0.5%. (KIG)
| Telkom Indonesia posts biggest quarterly profit in 7 years |
| Written by Bloomberg |
| Friday, 31 July 2009 12:02 |
PT Telekomunikasi Indonesia, the nation’s biggest telephone service provider, posted its biggest quarterly profit in almost seven years as rising consumer confidence helped the company add customers.
Net income in the three months to June 30 advanced 16% to 3.59 trillion rupiah ($521 million) from 3.09 trillion rupiah a year earlier, the highest since the third quarter of 2002. Sales rose 5.3% to 15.97 trillion rupiah. Revenue from mobile-phone services, run by PT Telekomunikasi Selular, which is 35% owned by Singapore Telecommunications, rose 13% to 7 trillion rupiah in the quarter.
Two general elections in the first seven months of 2009, the highest consumer confidence in four years and a 14.6% gain in the rupiah helped the Bandung, Indonesia-based company post its first profit increase in five quarters. The company added 10 million new phone users in the first half of the year, Bisnis Indonesia newspaper reported on July 29.
“We’re bullish on Telkom,” said Jordan Zulkarnaen, head of research at PT Kresna Graha Sekurindo in Jakarta, who is recommending clients to “buy” the shares. The company’s earnings “reflects consumers’ improving purchasing power.”
The company’s shares, which have risen 36% this year, added 6.2% to 9,400 rupiah in Jakarta yesterday.
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*DJ SingTel Target Raised To S$3.65 From S$3.15 By Nomura
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0218 GMT [Dow Jones] SingTel (Z74.SG) +2.4% at S$3.46 as investors go defensive amid market's slight downside bias (market breadth negative, but SingTel's gains keeping STI positive), unfazed by news of unit Optus being sued by Australia's competition regulator for allegedly misleading consumers about prepaid phone cards. "We do not believe that there will be serious implications arising from this news," says OCBC Investment Research, noting ACCC merely seeking corrective advertising, community service orders, court costs; "we still like SingTel's defensive business and the potential to ride on the economic recovery through its regional associates." Rates at Buy with S$3.49 target. Resistance expected at year-to-date high of S$3.52. (FKH)
SingTel mulls Bharti related $3 bln financing-Basis Point
SINGAPORE, July 25 (Reuters) - Singapore Telecommunications (STEL.SI) was talking to banks for $3 billion financing related to the merger between its Indian unit, Bharti Airtel (BRTI.BO), and MTN Group (MTNJ.J) Ltd, Basis Point reported citing sources.
The sources said that the talks are at a high level, and a final size has not yet emerged because the structure of the Bharti-MTN merger has not been finalised.
Bharti, India's leading mobile operator, and MTN had said they were considering an initial deal worth more than $23 billion, under which Bharti would pay cash and shares to end up with 49 percent of MTN after MTN pays cash and stock for an effective 36 percent stake in the Indian firm.
SingTel, which owns about 31 percent of Bharti, could not give official comments on the report immediately. But the merger could change SingTel's control over the combined entity, but would remain a strategic partner and significant shareholder.
On Friday SingTel officials said that merger negotiations between Bharti and MTN were ongoing and they could not give comments or updates on the progress.
Goldman Sachs (GS.N) was advising SingTel on its plan regarding the merger plan, a source with direct knowledge of the deal told Reuters.
One year ago, when Bharti and MTN were first in talks, SingTel had said it would support Bharti financially in any merger and acquisition activity.
A merger between Bharti and MTN would create a $61 billion telecoms giant spanning Africa, Asia and the Middle East. (Reporting by Stephen Aldred and David Lau, writing by Harry Suhartono, editing by Jeremy Laurence)
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DJ SingTel CEO: Evaluating Investment Opportunities In China
SINGAPORE (Dow Jones)--Singapore Telecommunications Ltd.'s (Z74.SG) chief executive, Chua Sock Koong, said Friday that the company continues to evaluate investment opportunities in China. She was speaking to shareholders at the company's annual general meeting. SingTel currently holds significant stakes in six foreign mobile operators: India's Bharti Airtel Ltd., Indonesia's PT Telkomsel, Thailand's Advanced Info Service PCL, Pakistan's Warid Telecom, the Philippines' Globe Telecom Inc. and Pacific Bangladesh Telecom. -By Se Young Lee, Dow Jones Newswires; |
OCBC Investment Research
17 July 2009
Singapore Telecoms - Defensive with growth potential
Targeting wider football audience. SingTel recently unveiled its pricing plans for the upcoming UEFA Champions League, Europa League and Serie A matches next season. Offered via three platforms - on mioTV, online and on mobile, the sign-ups will cost S$15.90/month for access to all three platforms for its subscribers; it also has separate plans for individual platforms should subscribers opt not to take up the all-in-one package. And it has not forgotten about non-subscribers - they can pay S$13/month to watch these matches online or just S$6 per live match. We think the multi-platform approach is great as it enables SingTel to tap the whole market of football fans - well beyond its current mioTV subscriber base of 100k.
Defensive earnings still matter. On the economic front, there are increasing signs that the global recession has probably past its worst point, but the consensus is that the pace of the economic recovery is still expected to remain splotchy. As such, there could still be several quarters of uncertain corporate earnings for most companies. On the other hand, SingTel's suite of services is likely to remain quite resilient as consumers
nowadays have deemed them to be near-essential or even a necessity. SingTel itself has guided for stable FY10 performance, with both Singapore and Australia turning in low single-digit revenue growth.
Growth potential from regional associates. Should there be a fasterthan-expected pick up in the economic recovery, we believe that emerging markets in Asia would be the ones who will benefit the most. We further believe that this would translate into faster growth for SingTel's regional associates, effectively adding a "recovery angle" to its investment thesis. Another potential positive would be associate Bharti's much-talked about merger with South Africa's MTN; this would allow SingTel to extend its reach beyond Asia and with well-established partners. Other catalysts would include possible M&As in the region.
Raising fair value to S$3.49. On the recent leadership change at rival StarHub, we do not believe it will affect SingTel much - while it is the de
facto leader in the Singapore market, its importance is likely softened by its potential regional expansion. In light of the firmer regional currencies, we have bumped up our FY10 and FY11 estimates slightly; the recent rebound in the global stock markets has also increased our SOTP fair value from S$3.18 to S$3.49. Coupled with an expected 3.9% dividend yield for this year, we maintain our BUY rating.
Blastoff ( Date: 16-Jul-2009 17:51) Posted:
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