Singtel group chief executive Chua Sock Koong told the press on Wednesday: “We have one of the strongest credit ratings amongst telcos... I believe the numbers speak for themselves, looking at our overall gearing levels and our free cash flow generation.”SINGTEL management took the group’s sprawling portfolio through its paces at an hour-long earnings briefing on Wednesday morning, after the mainboard-listed telco posted a 21.
“We will continue to make investments in building our 5G use cases, before the big rollout, which will probably be more like the 2021 kind of timeline - assuming that we win the beauty contest, after the IMDA rules are finalised as to how 5G is going to be rolled out.” When asked about the SIM-only and unlimited data options that have hit the market - a calling card of mobile virtual network operator rivals - Yuen Kuan Moon, who oversees the Singapore consumer business, argued that “it’s not just purely looking at data plans”.
MVNO Circles.Life, which leases frequency from recently privatised network operator M1, has in the past patted itself on the back for contributing to M1’s subscription numbers. “We also believe that, to our knowledge, there will be a few more MVNOs about to start in the next few months, so we’re going to see even more MVNOs coming into the market to create a very vibrant marketplace.”
Meanwhile, JP Morgan analysts suggested that TPG could call it quits and try to sell its spectrum rights, but even if it does try to build its own network, Singtel’s Optus may not take a hit “as balance sheet constraints could limit TPG's network build”. Meanwhile, Singtel’s enterprise revenues slid by 2.7 per cent for the quarter and 2.3 per cent for the full year, with DBS telecom analyst Sachin Mittal arguing on Monday that the segment would still face pressure in the next 12 months, as legacy carriage operations like voice services are “unlikely to be adequately offset by growth in the ICT business”.
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