Singtel - RHB Research 2015-10-02: NEUTRAL rating with TP of SGD4.07

Singtel - CIMB Research 2015-10-01: Loss of TPG not a big deal for Optus SINGTEL Z74.SI 

Singtel - NEUTRAL rating with TP of SGD4.07

  • The 23.3% Singtel-owned Advanced Info Service Public Company Ltd (AIS), is taking to arbitration a 70 billion baht (S$2.74 billion) claim against it by Thai state-owned telco TOT Public Company Ltd. Thailand's military government had asked TOT to seek the compensation from AIS before the concession contract expired, or it might be charged with neglect of duty. 
  • TOT's claim relates to alleged unlawful contract amendments dating back to 2001-02. The dispute at hand involves a 2001 amendment that reduced the portion of revenues in prepaid services AIS had to share with TOT. 
  • Another contested amendment in 2002 allowed AIS to deduct roaming fees from the concession fees payable to TOT. Complicating matters was Thaksin's sale of Shin Corp to Singapore's Temasek Holdings in 2006, which led to much controversy in Thailand. 
  • We have a NEUTRAL rating with TP of SGD4.07.


Singapore Research RHB Securities | http://www.rhbgroub.com/ 2015-10-02
RHB Securities SGX Stock Analyst Report NEUTRAL Maintain NEUTRAL 4.07 Same 4.07


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