Singtel's share price get a boost from associate's climbing contributions

SingTel Singapore Pte. Ltd. provides investment holding and business and management consultancy services. The company was incorporated in 2010 and is based in Singapore. SingTel Singapore Pte. Ltd. operates as a subsidiary of Singapore Telecommunications Ltd. 

The company is one of the largest telecommunication company in Singapore undervalued stock segment.

According to DBS Group Equity Research report, Singtel’s rising associate’s contributions are likely to drive its share price with a fixed dividend commitment of $0.175 over FY19-20F and 5.5% yield.

The associates’ profit contribution is likely to bottom out in Q1 for 2019. DBS analyst said, associates’ profit contribution is expected to grow after a two-year decline which will be led by Indonesian network provider Telkomsel, Thai mobile operator AIS and Philippine telco Globe amidst delays in India-based Bharti Telecom’s recovery.

Contributions from Telkomsel are likely to slide between Q4 and Q1 in 2019 as the Indonesian telco grapples with the loss of subscribers and industry competition in the first half of 2018.

Oversea-Chinese Banking Corp (OCBC) Cancelled Hong Kong Life Insurance Sale.

Singapore, The Singapore blue chip stock Oversea Chinese Banking Corp states on Monday that a pre decided sale of Hong Hong Kong Life Insurance to investment firm First Origin had been called off after the buyer failed to meet certain conditions before a Sept. 30 deadline.
Oversea-Chinese Banking Corporation Limited is an Singapore undervalued stock offers all-inclusive range of financial services. OCBC subsidiary from OWHB in Hong Kong, owns a third last remaining independent life insurance businesses in Hong Kong. OWHB is one of five owners including Chong Hing Insurance Co Ltd, a unit of Chong Hing Bank Ltd.

The starting business from last year agreed to acquire HK$7.1 billion ($907 million), according to two of the sellers.

The OWHB terminated the sale with other seller on the basis that the closing conditions have not been satisfied," OCBC said in a statement. It did not specify which conditions were not met.

First Origin International Limited forfeited a deposit of HK$710 million ($90.7 million) to the sellers, OCBC said.Reuters was not able to contact First Origin for comment on Monday, a public holiday in Hong Kong.

The deal had been awaiting approval from the Hong Kong regulator.