- 36% holding company (HoldCo) discount should narrow, with recovery in SingTel (SGX:Z74)'s core business. Current HoldCo discount stands at 36% (vs. seven-year average of 24%), as SingTel's share price has lagged its associates’ share price. The discount had widened sharply last year after a 42% decline in core operating profit from Singapore & Australia in FY21.
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- SingTel and Lendlease to enter into a joint venture for the redevelopment. SingTel expects to re-develop its Comcentre headquarters into a S$3bn asset, based on the gross development value upon completion, vs the development cost of S$2.7bn to be incurred by the joint venture company (JVCo).
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