SINGAPORE (XFN-ASIA) - Singapore Telecommunications Ltd (SingTel) extended its gains, with the stock touching a 52-week high of 2.73 sgd per share, on hopes that the company will raise its dividend payout in the year to March 2006 since it recently failed to buy a 26 pct stake in Pakistan Telcom Co Ltd (PTCL).
In mid-morning trading, SingTel was up 0.01 sgd or 0.37 pct at 2.72, off a high of 2.73, with 6.35 mln shares having changed hands.
Last week, SingTel lost the bidding for the PTCL stake to United Arab Emirates' Etisalat, which bid of 2.59 bln usd, more than double SingTel's bid of 1.17 bln usd.
Dealers said investors are wondering what SingTel will do with its cash, amounting to 3.3 bln sgd, now that it has failed in its PTCL bid.
SingTel is proposing to pay special and ordinary dividends together amounting to 0.13 sgd per share for the year ended March 2005. The dividend proposal will be submitted for approval by shareholders at their annual meeting on July 29.
Even after the year to March 2005 dividend payment is completed, dealers estimate SingTel still has enough cash to pay another 0.08 sgd per share dividend for the current financial year.
SINGAPORE (XFN-ASIA) - Citigroup Smith Barney said it is reiterating its "hold" recommendation for Singapore Telecommunications Ltd (SingTel), with a target price of 2.70 sgd, as it sees slowing growth prospects for the company.
Citigroup cited significant price competition as a factor that may cause margin uncertainty for SingTel's Australian unit, Optus Mobile.
"We continue to see subdued earnings growth prospects in the near term," Citigroup said. "Slowing growth [is] inadequate to justify a more bullish view on the stock."
Citigroup forecasts SingTel's year to March 2005 net profit at 2.91 bln sgd, while net profit in the year to March 2006 is estimated at 3.11 bln sgd.
At 2.26 pm, SingTel was up 0.03 sgd or 1.10 pct at 2.76 on volume of 19. 30 mln shares.
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SINGAPORE (XFN-ASIA) - Singapore Telecommunications Ltd (SingTel) extended its gains, with the stock touching a 52-week high of 2.73 sgd per share, on hopes that the company will raise its dividend payout in the year to March 2006 since it recently failed to buy a 26 pct stake in Pakistan Telcom Co Ltd (PTCL).
In mid-morning trading, SingTel was up 0.01 sgd or 0.37 pct at 2.72, off a high of 2.73, with 6.35 mln shares having changed hands.
Last week, SingTel lost the bidding for the PTCL stake to United Arab Emirates' Etisalat, which bid of 2.59 bln usd, more than double SingTel's bid of 1.17 bln usd.
Dealers said investors are wondering what SingTel will do with its cash, amounting to 3.3 bln sgd, now that it has failed in its PTCL bid.
SingTel is proposing to pay special and ordinary dividends together amounting to 0.13 sgd per share for the year ended March 2005. The dividend proposal will be submitted for approval by shareholders at their annual meeting on July 29.
Even after the year to March 2005 dividend payment is completed, dealers estimate SingTel still has enough cash to pay another 0.08 sgd per share dividend for the current financial year.
SINGAPORE (XFN-ASIA) - Citigroup Smith Barney said it is reiterating its "hold" recommendation for Singapore Telecommunications Ltd (SingTel), with a target price of 2.70 sgd, as it sees slowing growth prospects for the company.
Citigroup cited significant price competition as a factor that may cause margin uncertainty for SingTel's Australian unit, Optus Mobile.
"We continue to see subdued earnings growth prospects in the near term," Citigroup said. "Slowing growth [is] inadequate to justify a more bullish view on the stock."
Citigroup forecasts SingTel's year to March 2005 net profit at 2.91 bln sgd, while net profit in the year to March 2006 is estimated at 3.11 bln sgd.
At 2.26 pm, SingTel was up 0.03 sgd or 1.10 pct at 2.76 on volume of 19. 30 mln shares.
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