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Atom99 ( Date: 27-Jun-2013 20:09) Posted:
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Better to concentrate on its core business- property development which is in high demand at the moment.
Dividend_Warrior ( Date: 27-Jun-2013 19:06) Posted:
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currypig, you are right!
http://www.mizzima.com/business/investment/9597-breaking-telenor-ooredoo-win-telecoms-bidding-war
currypig ( Date: 27-Jun-2013 17:06) Posted:
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* Parliament wanted telecoms law to be enacted first * Huge international interest in fledgling market * Some bidders have abandoned bids on big investments, uncertain returns (Adds contenders, conditions of licences) By Aung HlaTun and Jared Ferrie YANGON, June 27 (Reuters) - Myanmar, which is offering operating licences to global telecoms firms for the first time, will announce the outcome of the auction as planned on Thursday despite opposition in parliament.
The lower house voted on Wednesday to delay the award of the two hotly contested licences until after the enactment of a new telecommunications law that is still making its way through parliament.
The ruling injected new uncertainty into the tender, which has attracted more than 90 companies and consortia including Singapore Telecommunications Ltd
" We are ready to announce the final winners sometime today, according to the original schedule. We don't have any reason to postpone it," Set Aung, who heads the Telecommunications Operator Tender Evaluation and Selection Committee (TOTSC), told Reuters.
" Parliament can't stop it at this point," he added, without saying when exactly the announcement would be made.
Myanmar is one of the world's last telecoms frontiers, with only 9 percent of its 60 million people at most having mobile phones. But faced with big investments and uncertain returns, some bidders have dropped out of the auction.
Vodafone Group Plc
The motion passed by Myanmar's lower house on Wednesday also stipulated that licences should go only to bidders that had domestic companies as partners in a joint venture.
The government says it will finalise the 15-year licences by September and operators will need to launch services within nine months.
Operators will also have to provide voice services across three-quarters of the country within five years and data services across half of it.
Atom99 ( Date: 27-Jun-2013 12:57) Posted:
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Blanchard ( Date: 26-Jun-2013 16:20) Posted:
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i like DBS analyst..recommending to buy a stock which is 75x PE!!! good job!!
BUY S$0.96
STI : 3,104.40Price Target : 12-Month S$ 1.08
Analyst
TAN Ai Teng +65 6398 7967
AiTeng@dbsvickers.com
Price Relative
51
251
451
651
851
1051
0.0
0.2
0.4
0.6
0.8
1.0
Jun-09 Jun-10 Jun-11 Jun-12 Jun-13
S$ Relative Index
Yoma Strategic Holdings (LHS) Relative STI INDEX (RHS)
Forecasts and Valuation
FY Mar (S$ m) 2011A 2012A 2013A 2014F
Revenue 11 39 60 99
EBITDA 3 8 13 37
Pre-tax Profit 2 6 16 37
Net Profit 3 6 14 18
Net Pft (Pre Ex.) 3 6 11 18
EPS (S cts) 0.5 1.1 1.3 1.6
EPS Pre Ex. (S cts) 0.5 1.1 0.9 1.6
EPS Gth (%) 419 117 10 27
EPS Gth Pre Ex (%) 365 142 (17) 70
Diluted EPS (S cts) 0.5 1.1 1.3 1.6
Net DPS (S cts) 0.0 0.5 0.5 0.5
BV Per Share (S cts) 24.7 25.7 31.3 32.4
PE (X) 181.6 83.9 75.9 59.7
PE Pre Ex. (X) 202.5 83.9 101.3 59.7
P/Cash Flow (X) 493.7 26.4 nm 11.8
EV/EBITDA (X) 146.8 63.2 79.7 30.0
Net Div Yield (%) 0.0 0.5 0.5 0.5
P/Book Value (X) 3.9 3.7 3.1 3.0
Net Debt/Equity (X) 0.0 CASH CASH CASH
ROAE (%) 2.2 4.5 5.9 5.0
Source of all data: Company, DBS Vickers, Bloomberg Finance L.P
Myanmar delays telco licenses
•
Postponed until new telco law is passed•
Bids may require local participation•
raise concerns on government’s ability to execute
Hopefully, delay will not be long drawn as it could•
S$1.08 TP
No earnings impact on Yoma Maintain BUY andMyanmar has delayed award of the two telco licenses
scheduled to be announced today.
Parliament voted to delay awarding the licenses until a new
telecommunications law governing the industry is passed.
Members of the Parliament agreed that the " industry risked
being monopolised" if the winners of the
telecommunications license were announced before a new
telecommunications law is passed in the country.
In addition, it was also proposed that only foreign
companies with a local joint-venture partner should be
granted a telecommunications license, although it is unclear
whether this new rule will be adopted. Some of the foreign
bidders, including a consortium of Orange and Japan's
Marubeni Corp. and Bharti Airtel, are competing for a
license without a local partner.
The Telecommunications Operator Tender Evaluation and
Selection Committee is the independent body that oversees
the bid but members of Parliament said that the decision
from its lower house would override the authority of the
Telecommunications Operator Tender Evaluation and
Selection Committee. Hence, it is now unclear when the
winners will be announced.
Although bureaucratic delays are common in frontier
markets, we hope that the delay will not be for too long as
these developments - telecom networks and airports - are
the new government's first attempts to revamp the country.
It is crucial that the government shows that they are able to
plan and execute the country's development forward.
Yesterday, Myanmar’sNo earnings impact on Yoma
earlier reports, we do not expect and have not imputed into
our forecast any earnings impact from this telco bid.
Maintain BUY and S$1.08 TP.
teeth53 ( Date: 26-Jun-2013 22:29) Posted:
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teeth53 ( Date: 26-Jun-2013 22:44) Posted:
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http://www.reuters.com/places/myanmar?lc=int_mb_1001
Ingiro ( Date: 26-Jun-2013 22:39) Posted:
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Ingiro ( Date: 26-Jun-2013 21:34) Posted:
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