Singapore Telcos: A (Nasty) TPG Surprise.

Singapore Telcos: And Then There Were Two (Bidders for the 4th License).

Singapore Wireless: TPG Entry and Early Moves from M1 and Starhub to Counter the Threat.

Singtel: Bharti and Intouch Deals Appear Value Neutral.

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Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
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We also provide debt research on:
Pan European Telecom Services and Cable

Equity Bottom-Up

<p>Singaporean telecom service revenue trends remain negative. For now, attention is focused on the 4th entrant process with the IDA setting an early September deadline. But the underlying picture for the three telcos is not great. There is an ongoing slowdown in voice revenues (-13% YoY) offset by an 11% rise in data revenues. The 2.4% subscriber growth was also the best in 2 years, possibly reflecting multiple device take-up. <a href="https://www.smartkarma.com/entities/20" target="_blank" data-smartkarma-citation="entities:20:1">Singtel (ST SP)</a>  remains the dominant operator but lost subscriber and…</p>

Singaporean telecom service revenue trends remain negative. For now, attention is focused on the 4th entrant process with the IDA setting an early September deadline. But the underlying picture for the three telcos is not great. There is an ongoing slowdown in voice revenues (-13% YoY) offset by an 11% rise in data revenues. The 2.4% subscriber growth was also the best in 2 years, possibly reflecting multiple device take-up. Singtel (ST SP)  remains the dominant operator but lost subscriber and…

Singapore Telcos Show Weak Trends. All Eyes on September New Entrant Deadline