- SingTel (SGX:Z74)’s recent Investor Day (SID2024) elucidated on its mid-term growth plan. We remain positive on earnings prospects, backed by capital recycling/dividend upsides, ROIC accretion and price repair.
- - Read this at SGinvestors.io -
SID2024.
- At the SID2024 held on 29 Aug, SingTel's management elucidated the Singtel28 strategy – the group’s mid-term growth plan. The focus is on:
- Driving high quality topline growth,
- cost optimisation, and
- capital management.
- S$2-3bn of the S$6bn targeted in the mid-term for assets to be recycled will be sourced from equity partners. While there were no specifics, we think a further sell down in Airtel (29%) is likely following the >S$3bn successfully raised in recent years coupled with partial divestments of NetLink Trust (SGX:CJLU) (24.8%) and/or NCS (100%). The proceeds should comfortably meet the 3-6 cents in variable realisation dividend.
- - Read this at SGinvestors.io -
Challenging core markets; repricing of Optus plans should sustain revenue momentum.
- Read more at SGinvestors.io.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2024-09-05
Read also RHB's most recent report:
2024-11-14 SingTel - Solid EBIT Delivery; Keep BUY.
Price targets by 5 other brokers at SingTel Target Prices.
Listing of research reports at SingTel Analyst Reports.
Relevant links:
SingTel Share Price History,
SingTel Announcements,
SingTel Dividends & Corporate Actions,
SingTel News Articles