SINGTEL
Singapore Telecommunications
Z74.SI
Singtel: Gearing up for Telco 3.0
- We recently attended Singtel’s 2016 Investor Day, where we met up with the management of its regional associates to get a more in-depth understanding of their businesses and outlook.
- We also paid a visit to its newly-opened FutureNow exhibit, where we were shown the road-map that Singtel is taking to transform itself into “Telco 3.0” by 2020.
- Through SMAC – Security, Mobile, Analytics and Cloud – it aims to move beyond a “dumb pipe” business into value- added services like Digital payments, Smart Living for its Group Consumer segment; Mobile Advertising, Analytics, Premium OTT video for Group Digital Life; and Cyber Security, Safe & Smart Cities, Cloud for Group Enterprise.
- In addition, we believe that its regional associates will give Singtel the ability to achieve scale with these services.
- Maintain BUY with an unchanged SOTP-based fair value of S$4.09.
Carey Wong
OCBC Securities
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http://www.ocbcresearch.com/
2016-06-02
OCBC Securities
SGX Stock
Analyst Report
4.09
Same
4.09
