Upcoming Dividend • Apr 28
Upcoming dividend of S$0.03 per share Eligible shareholders must have bought the stock before 05 May 2026. Payment date: 20 May 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.7%. Within top quartile of Singaporean dividend payers (4.9%). Higher than average of industry peers (3.3%). Declared Dividend • Apr 10
Final dividend of S$0.03 announced Shareholders will receive a dividend of S$0.03. Ex-date: 5th May 2026 Payment date: 20th May 2026 Dividend yield will be 5.8%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is not covered by earnings (133% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 47% to bring the payout ratio under control. EPS is expected to grow by 60% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Apr 08
StarHub Ltd, Annual General Meeting, Apr 30, 2026 StarHub Ltd, Annual General Meeting, Apr 30, 2026, at 10:00 Singapore Standard Time. Location: level 3, rooms 324-326, suntec singapore convention & exhibition centre, 1 raffles boulevard, suntec city, singapore 039593, Singapore Price Target Changed • Mar 05
Price target decreased by 7.0% to S$1.07 Down from S$1.16, the current price target is an average from 11 analysts. New target price is 6.3% above last closing price of S$1.01. Stock is down 15% over the past year. The company is forecast to post earnings per share of S$0.022 for next year compared to S$0.045 last year. Major Estimate Revision • Feb 21
Consensus EPS estimates fall by 66% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from S$0.065 to S$0.022 per share. Revenue forecast steady at S$2.33b. Net income forecast to shrink 51% next year vs 8.4% growth forecast for Wireless Telecom industry in Singapore . Consensus price target down from S$1.16 to S$1.08. Share price fell 3.5% to S$1.09 over the past week. Major Estimate Revision • Feb 18
Consensus EPS estimates fall by 74% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from S$2.41b to S$2.33b. EPS estimate also fell from S$0.08 per share to S$0.021 per share. Net income forecast to shrink 54% next year vs 7.5% growth forecast for Wireless Telecom industry in Singapore . Consensus price target down from S$1.19 to S$1.10. Share price fell 8.3% to S$1.10 over the past week. New Risk • Feb 14
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 133% The company is paying a dividend despite having no free cash flows. Dividend yield: 5.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 133% Paying a dividend despite having no free cash flows. Minor Risks High level of debt (126% net debt to equity). Profit margins are more than 30% lower than last year (3.3% net profit margin). Reported Earnings • Feb 13
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: S$0.045 (down from S$0.089 in FY 2024). Revenue: S$2.35b (flat on FY 2024). Net income: S$86.4m (down 43% from FY 2024). Profit margin: 3.7% (down from 6.4% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jan 09
StarHub Ltd to Report Fiscal Year 2025 Results on Feb 12, 2026 StarHub Ltd announced that they will report fiscal year 2025 results at 9:00 AM, Singapore Standard Time on Feb 12, 2026 Major Estimate Revision • Nov 17
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from S$2.37b to S$2.34b. EPS estimate also fell from S$0.072 per share to S$0.059 per share. Net income forecast to grow 5.9% next year vs 7.2% growth forecast for Wireless Telecom industry in Singapore. Consensus price target broadly unchanged at S$1.18. Share price was steady at S$1.14 over the past week. Declared Dividend • Aug 16
First half dividend of S$0.03 announced Shareholders will receive a dividend of S$0.03. Ex-date: 21st August 2025 Payment date: 5th September 2025 Dividend yield will be 5.3%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (89.9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share is expected to grow by 42% over the next 3 years, which should maintain adequate earnings cover for the dividend. Reported Earnings • Aug 15
First half 2025 earnings released: EPS: S$0.026 (vs S$0.046 in 1H 2024) First half 2025 results: EPS: S$0.026 (down from S$0.046 in 1H 2024). Revenue: S$1.13b (up 2.2% from 1H 2024). Net income: S$44.0m (down 44% from 1H 2024). Profit margin: 3.9% (down from 7.1% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jul 11
StarHub Ltd to Report First Half, 2025 Results on Aug 14, 2025 StarHub Ltd announced that they will report first half, 2025 results on Aug 14, 2025 Upcoming Dividend • Apr 22
Upcoming dividend of S$0.032 per share Eligible shareholders must have bought the stock before 29 April 2025. Payment date: 16 May 2025. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Singaporean dividend payers (6.1%). Higher than average of industry peers (3.7%). Reported Earnings • Apr 08
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: S$0.089 (up from S$0.082 in FY 2023). Revenue: S$2.37b (flat on FY 2023). Net income: S$152.7m (up 7.8% from FY 2023). Profit margin: 6.4% (up from 6.0% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.1%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 05
Final dividend of S$0.032 announced Shareholders will receive a dividend of S$0.032. Ex-date: 29th April 2025 Payment date: 16th May 2025 Dividend yield will be 5.3%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 03
StarHub Ltd, Annual General Meeting, Apr 25, 2025 StarHub Ltd, Annual General Meeting, Apr 25, 2025, at 09:00 Singapore Standard Time. Location: level 3, nicoll 3, suntec singapore convention & exhibition centre, 1 raffles boulevard, suntec city, singapore 039593, Singapore Major Estimate Revision • Feb 27
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from S$2.44b to S$2.42b. EPS estimate also fell from S$0.105 per share to S$0.093 per share. Net income forecast to grow 4.0% next year vs 7.9% growth forecast for Wireless Telecom industry in Singapore. Consensus price target down from S$1.34 to S$1.30. Share price fell 4.8% to S$1.20 over the past week. Reported Earnings • Feb 22
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: S$0.089 (up from S$0.082 in FY 2023). Revenue: S$2.37b (flat on FY 2023). Net income: S$160.5m (up 13% from FY 2023). Profit margin: 6.8% (up from 6.0% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.1%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Dec 31
StarHub Ltd Announces Change of Joint Company Secretary, with Effect from 1 January 2025 The Board of Directors of StarHub Ltd. (StarHub) hereby announced the change of Joint Company Secretary of StarHub from Ms. Seah Kok Hiang, Jamie to Ms. Kong Pooi Foong with effect from 1 January 2025. With effect from 1 January 2025, the Company Secretaries of StarHub will be Ms. Audra Balasinga m and Ms. Kong Pooi Foong. Announcement • Sep 13
StarHub Ltd Announces Cessation of Ma Kah Woh as Chairman of the Audit Committee and Member of the Risk and Sustainability Committee StarHub Ltd. announced Mr. Ma Kah Woh will step down as the Chairman of the Audit Committee and a Member of the Risk and Sustainability Committee of the company on 18 September 2024. Mr. Ma will continue to be a Member of the Board and AC. As Mr. Ma will reach a 9-year tenure on 22 September 2024, he will thereafter be re-designated as a Non-Independent Non-Executive Director. Other DirectorShips Present: National Gallery Singapore - Asian Civilisations Museum. Announcement • Sep 12
StarHub Ltd Announces Appointment of Deborah Tan Yang Sock as the Chairman of the Audit Committee StarHub Ltd. approved the appointment of Mrs. Deborah Tan Yang Sock as the Chairman of the Audit Committee ("AC") of StarHub. Working Experience: Mrs. Ong retired as a Partner of PricewaterhouseCoopers LLP Singapore on 31 October 2020. She is currently a board member and chairs the Audit Committees of SATS Ltd., and CapitaLand India Trust Management Pte. Ltd. (Trustee Manager of CapitaLand India Trust). She is also a board member of the Monetary Authority of Singapore. In addition, Mrs. Ong is a board member and chairs the Audit and Risk Committees of SkillsFuture Singapore, Workforce Singapore, and the Lee Kong Chian School of Medicine at Nanyang Technological University. Mrs. Ong is also the chairperson of the Institute of Human Resource Professionals (IHRP), and serves on the Judicial Service Commission. Before she retired, she was a member of PwC Global Assurance Quality Leadership working with a portfolio of PwC member firms including the United Kingdom, Korea and Japan. Prior to this appointment, Mrs. Ong was a Member of the Leadership Team for PwC Singapore, and led the Risk and Quality, and Human Capital functions. Other DirectorShips Past: Partner, PricewaterhouseCoopers LLP, Singapore 1993 to 31 October 2020. Other DirectorShips Present: Present Directorships - Non-Executive and Independent Director, SATS Ltd. - Non-Executive and Independent Director, CapitaLand India Trust Management Pte. Ltd. (Trustee Manager of CapitaLand India Trust) Present Principal Commitments - Chairperson, Institute for Human Resource Professionals - Board member, Monetary Authority of Singapore - Board member, Lee Kong Chian School of Medicine at Nanyang Technological University - Board member, Workforce Singapore - Board member, SkillsFuture Singapore - Member, The Judicial Service Commission - Trustee, Wealth Management Institute Limited. Professional Qualifications: Bachelor of Accountancy (Honours), National University of Singapore - Fellow, Institute of Singapore Chartered Accountants (ISCA) - Fellow, Certified Practising Accountants (CPA) Australia. Announcement • Aug 21
StarHub Ltd Announces Appointment of Han Kwee Juan as Independent Non-Executive Director and Member of the Risk and Sustainability Committee, Effective September 1, 2024 The Board of Directors of StarHub Ltd. has accepted the recommendation of the Nominating and Governance Committee (NGC) of StarHub Ltd. (StarHub) which has reviewed Mr. Han's qualifications and experience and approved the appointment of Mr. Han as an Independent Non-Executive Director and a Member of the Risk and Sustainability Committee (RSC) of StarHub. Date of appointment is September 1, 2024. Working Experience: 2023 - Present Group Executive, Singapore CEO, DBS Bank Ltd. (also Group Chief Information Officer from November 2023 to June 2024) 2019 - 2023 Group Head, Group Strategy & Planning (Member of Executive Committee), DBS Bank Ltd. 2012 - 2018 Country Business Manager, CEO Citibank Singapore Ltd. Other DirectorShips Past: - Supervisor of Board of Directors, DBS China Pte Ltd. - Chairman & Director, DBS Finnovation Pte Ltd. - Director, DBS Digital Exchange Pte Ltd. - Council Member, National Integration Council - Board Member of Tripartite Alliance Ltd. (Chair of Finance and Procurement Committee). Other DirectorShips Present: - Chairman of Audit Committee, Board of Trustees, Singapore Institute of Technology - Chairman, Digital Steering Committee and Alternate Council Member, Association of Banks of Singapore - Chairman, ASEAN Banking Council (Corporation in Finance, Investment, Trade and Technology (COFITT)) - Co-Chair, MAS Steering Committee For SOR & SIBOR Transition to SORA - Co-Chair, MAS, MAS-ABS SteerCo for Governance of Paynow Cross-Border Payment Linkages - Council Member, Singapore National Employers Federation - Member of Digital Finance Steering Committee, Institute of International Finance. Director Experience Details: Mr. Han will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange. Reported Earnings • Aug 17
First half 2024 earnings released: EPS: S$0.048 (vs S$0.044 in 1H 2023) First half 2024 results: EPS: S$0.048 (up from S$0.044 in 1H 2023). Revenue: S$1.10b (flat on 1H 2023). Net income: S$82.1m (up 7.0% from 1H 2023). Profit margin: 7.4% (up from 6.9% in 1H 2023). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 1% per year. Declared Dividend • Aug 16
First half dividend of S$0.03 announced Shareholders will receive a dividend of S$0.03. Ex-date: 21st August 2024 Payment date: 6th September 2024 Dividend yield will be 5.6%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 15
StarHub Ltd Declares an Interim Dividend for the First Half of 2024; Reiterates Dividend Guidance for the Year 2024 The board of StarHub Ltd. has declared an interim dividend of 3.0 cents per ordinary share for the first half of 2024.
The company has reiterated its dividend guidance of at least 6.0 cents per ordinary share for the year 2024 and remains confident to its dividend policy. Announcement • Jul 13
StarHub Ltd to Report First Half, 2024 Results on Aug 14, 2024 StarHub Ltd announced that they will report first half, 2024 results on Aug 14, 2024 Announcement • Apr 27
Starhub Ltd Appoints Deborah Tan Yang Sock (Mrs Deborah Ong) as Independent Non-Executive Director and Member of the AC, Effective from May 1, 2024 StarHub Ltd. annunced the appointment of Deborah Tan Yang Sock (Mrs Deborah Ong) as Independent Non-Executive Director and Member of the AC. Role And Responsibilities Non-Executive. Working Experience Mrs. Ong retired as a Partner of PricewaterhouseCoopers LLP Singapore on 31 October 2020. She is currently a board member and chairs the Audit Committees of SATS Ltd., and CapitaLand India Trust Management Pte. Ltd. (Trustee Manager of CapitaLand India Trust). She is also a board member of the Monetary Authority of Singapore. In addition, Mrs. Ong is a board member and chairs the Audit and Risk Committees of SkillsFuture Singapore, Workforce Singapore, and the Lee Kong Chian School of Medicine at the Nanyang Technological University. Mrs. Ong is also the chairperson of the Institute of Human Resource Professionals (IHRP), and serves on the Judicial Service Commission. Before she retired, she was a member of PwC Global Assurance Quality Leadership working with a portfolio of PwC member firms including the United Kingdom, Korea and Japan. Prior to this appointment, Mrs. Ong was a Member of the Leadership Team for PwC Singapore, and led the Risk and Quality, and Human Capital functions. Director Experience Details Mrs. Ong is currently a director of SATS Ltd., a public company incorporated in Singapore and listed on the Mainboard of the Singapore Exchange Securities Trading Limited. Professional Qualifications - Bachelor of Accountancy (Honours), National University of Singapore - Fellow, Institute of Singapore Chartered Accountants (ISCA) - Fellow, Certified Practising Accountants (CPA) Australia. Appointment Date May 1, 2024. Upcoming Dividend • Apr 22
Upcoming dividend of S$0.042 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 16 May 2024. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 6.8%. Within top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (4.1%). Declared Dividend • Apr 05
Final dividend increased to S$0.042 Dividend of S$0.042 is 68% higher than last year. Ex-date: 29th April 2024 Payment date: 16th May 2024 Dividend yield will be 5.6%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by both earnings (82% earnings payout ratio) and cash flows (78% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 04
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: S$0.082 (up from S$0.031 in FY 2022). Revenue: S$2.37b (up 2.0% from FY 2022). Net income: S$141.7m (up 161% from FY 2022). Profit margin: 6.0% (up from 2.3% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.8%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 09
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: S$0.082 (up from S$0.031 in FY 2022). Revenue: S$2.37b (up 2.0% from FY 2022). Net income: S$149.6m (up 176% from FY 2022). Profit margin: 6.3% (up from 2.3% in FY 2022). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.8%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Jan 05
StarHub Ltd to Report Fiscal Year 2023 Results on Feb 08, 2024 StarHub Ltd announced that they will report fiscal year 2023 results on Feb 08, 2024 Reported Earnings • Aug 06
First half 2023 earnings released: EPS: S$0.044 (vs S$0.035 in 1H 2022) First half 2023 results: EPS: S$0.044 (up from S$0.035 in 1H 2022). Revenue: S$1.11b (up 4.5% from 1H 2022). Net income: S$76.7m (up 26% from 1H 2022). Profit margin: 6.9% (up from 5.8% in 1H 2022). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Jun 30
StarHub Ltd to Report First Half, 2023 Results on Aug 03, 2023 StarHub Ltd announced that they will report first half, 2023 results on Aug 03, 2023 Upcoming Dividend • Apr 18
Upcoming dividend of S$0.025 per share at 4.9% yield Eligible shareholders must have bought the stock before 25 April 2023. Payment date: 12 May 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.9%. Lower than top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (4.3%). Reported Earnings • Mar 31
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: S$0.031 (down from S$0.082 in FY 2021). Revenue: S$2.33b (up 14% from FY 2021). Net income: S$54.3m (down 62% from FY 2021). Profit margin: 2.3% (down from 6.9% in FY 2021). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 52%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 14
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: S$0.031 (down from S$0.082 in FY 2021). Revenue: S$2.33b (up 14% from FY 2021). Net income: S$54.3m (down 62% from FY 2021). Profit margin: 2.3% (down from 6.9% in FY 2021). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 52%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Feb 12
Consensus EPS estimates fall by 12%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from S$2.43b to S$2.49b. EPS estimate fell from S$0.077 to S$0.067 per share. Net income forecast to shrink 15% next year vs 10% growth forecast for Wireless Telecom industry in Singapore . Consensus price target down from S$1.22 to S$1.18. Share price fell 7.1% to S$1.04 over the past week. Announcement • Jan 06
StarHub Ltd to Report Fiscal Year 2022 Results on Feb 07, 2023 StarHub Ltd announced that they will report fiscal year 2022 results at 5:00 PM, Singapore Standard Time on Feb 07, 2023 Price Target Changed • Nov 16
Price target decreased to S$1.24 Down from S$1.37, the current price target is an average from 16 analysts. New target price is 18% above last closing price of S$1.05. Stock is down 17% over the past year. The company is forecast to post earnings per share of S$0.063 for next year compared to S$0.082 last year. Price Target Changed • Nov 11
Price target decreased to S$1.26 Down from S$1.37, the current price target is an average from 16 analysts. New target price is 22% above last closing price of S$1.03. Stock is down 20% over the past year. The company is forecast to post earnings per share of S$0.065 for next year compared to S$0.082 last year. Reported Earnings • Aug 07
First half 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First half 2022 results: EPS: S$0.035 (down from S$0.039 in 1H 2021). Revenue: S$1.06b (up 8.7% from 1H 2021). Net income: S$60.9m (down 10% from 1H 2021). Profit margin: 5.8% (down from 7.0% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 9.4%, compared to a 5.5% growth forecast for the industry in Singapore. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 5% per year. Upcoming Dividend • Apr 21
Upcoming dividend of S$0.039 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 19 May 2022. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 6.0%. Within top quartile of Singaporean dividend payers (5.8%). Higher than average of industry peers (4.7%). Reported Earnings • Apr 05
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: S$0.082 (down from S$0.087 in FY 2020). Revenue: S$2.04b (flat on FY 2020). Net income: S$141.4m (down 5.7% from FY 2020). Profit margin: 6.9% (down from 7.4% in FY 2020). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 11%, compared to a 6.6% growth forecast for the industry in Singapore. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 15
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: S$0.082 (down from S$0.087 in FY 2020). Revenue: S$2.04b (flat on FY 2020). Net income: S$149.3m (flat on FY 2020). Profit margin: 7.3% (down from 7.4% in FY 2020). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 11%, compared to a 5.3% growth forecast for the industry in Singapore. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 8% per year. Major Estimate Revision • Feb 14
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 consensus EPS estimate fell from S$0.09 to S$0.07. Revenue forecast reaffirmed at S$2.24b. Net income forecast to shrink 1.2% next year vs 8.3% growth forecast for Wireless Telecom industry in Singapore . Consensus price target down from S$1.47 to S$1.40. Share price fell 3.8% to S$1.28 over the past week. Board Change • Oct 31
High number of new directors Non-Executive Director Ahmad Abdulaziz A A Al-Neama was the last director to join the board, commencing their role in 2021. Board Change • Sep 15
High number of new directors Non-Executive Director Ahmad Abdulaziz A A Al-Neama was the last director to join the board, commencing their role in 2021. Board Change • Sep 09
High number of new directors Non-Executive Director Ahmad Abdulaziz A A Al-Neama was the last director to join the board, commencing their role in 2021. Board Change • Sep 08
High number of new directors Non-Executive Director Ahmad Abdulaziz A A Al-Neama was the last director to join the board, commencing their role in 2021. Recent Insider Transactions • Sep 04
Independent Director recently sold S$122k worth of stock On the 3rd of September, Kah Woh Ma sold around 100k shares on-market at roughly S$1.22 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Sep 02
High number of new directors Non-Executive Director Ahmad Abdulaziz A A Al-Neama was the last director to join the board, commencing their role in 2021. Board Change • Aug 18
High number of new directors CEO & Executive Director Nikhil Oommen Eapen was the last director to join the board, commencing their role in 2021. Reported Earnings • Aug 09
First half 2021 earnings released: EPS S$0.039 (vs S$0.045 in 1H 2020) The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: S$973.7m (up 1.5% from 1H 2020). Net income: S$67.9m (down 12% from 1H 2020). Profit margin: 7.0% (down from 8.1% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Executive Departure • May 05
Non-Executive Director has left the company On the 30th of April, Nasser Mohammed Marafih's tenure as Non-Executive Director ended after 13.8 years in the role. As of December 2020, Nasser Mohammed personally held 141.33k shares (S$185k worth at the time). A total of 3 executives have left over the last 12 months. Upcoming Dividend • Apr 27
Upcoming dividend of S$0.025 per share Eligible shareholders must have bought the stock before 04 May 2021. Payment date: 21 May 2021. Trailing yield: 3.7%. Lower than top quartile of Singaporean dividend payers (4.6%). In line with average of industry peers (3.5%). Reported Earnings • Apr 10
Full year 2020 earnings released: EPS S$0.087 (vs S$0.10 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: S$2.03b (down 13% from FY 2019). Net income: S$150.0m (down 16% from FY 2019). Profit margin: 7.4% (down from 7.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 17% per year. Is New 90 Day High Low • Feb 22
New 90-day low: S$1.26 The company is down 5.0% from its price of S$1.32 on 24 November 2020. The Singaporean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Wireless Telecom industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is S$2.51 per share. Reported Earnings • Feb 21
Full year 2020 earnings released: EPS S$0.091 (vs S$0.10 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: S$2.03b (down 13% from FY 2019). Net income: S$157.9m (down 12% from FY 2019). Profit margin: 7.8% (up from 7.7% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 20% per year and the company’s share price has also fallen by 20% per year. Analyst Estimate Surprise Post Earnings • Feb 21
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.5%. Earnings per share (EPS) also missed analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 9.0% while theWireless Telecom industry in Singapore is not expected to grow. 
