Singtel stock closed up 0.66% on Tuesday at $3.07.
Singapore Telecommunications says wholly-owned subsidiary, SingTel Innov8, has acquired a 28.57% stake in 2359 Media, for $800,006.40.
As at Nov 30, the unaudited net asset value per share of 2359 Media was $3.50.
2359 Media is a Singapore-based mobile marketing provider whose core product offering is MobDis, a HTML5-based mobile advertisement creation platform that allows marketers and designers to rapidly create, publish and share engaging mobile advertisements.
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Net income fell 6.7% from a year earlier to $892 million in the quarter ended in September, SingTel, as the company is known, said in a statement today. That missed the $969 million average of four analyst estimates compiled by Bloomberg.
Singapore shares are likely to rise on Thursday after gains on Wall Street overnight although lower than expected earnings by market heavyweight Singapore Telecommunications (STEL.SI) may weigh on sentiment.
SingTel, Southeast Asia’s largest telecoms firm, reported lower-than-expected quarterly profit, partly due to the cost of acquisitions by its Indian ally. Its July-September net profit was $892 million, down from $956 million a year ago.
Singapore Telecommunications, Southeast Asia’s biggest phone company, said second-quarter profit fell 6.7% as gains in Australia and Singapore were offset by a drop in contributions from regional units.
Net income was $892 million in the three months ended Sept. 30, compared with $956 million a year earlier, the company said today in a stock exchange statement. That’s lower than the $969 million average of four analyst estimates compiled by Bloomberg.
Singapore Telecommunications (SingTel) says the group served 368 million mobile customers in 25 countries as at 30 September 2010, an increase of 35% or 94.4 million from a year ago.
SingTel added 54,000 mobile customers in the quarter as a result of strong customer demand for smartphones. Total customer base increased 2 per cent from a year ago to 3.2 million, with a leading market share of 44.1 per cent as at 30 September 2010.
Optus added 189,000 new mobile customers, through a combination of offerings, continued focus on customer experience, and enhanced network performance.
GLP’s $3.9 billion share offering, which was 12 times subscribed, makes it Singapore’s second-largest IPO after Singapore Telecommunications’ <STEL.SI> S$4 billion share offering in 1993.
Singapore Telecommunications (SingTel) today announced it has set up SingTel Innov8, a corporate venture company to invest in innovative technologies and solutions to create future growth engines for the group. Innov8, a wholly-owned subsidiary of SingTel, will have an initial fund size of $200 million.
Innov8 will collaborate with leading innovators, developers, government agencies, R&D organisations as well as other equity providers around the region to promote innovation. It will work closely with these partners to identify and explore new ideas and technologies, fund and support promising companies and provide access to markets that the SingTel operates in.
The company will work with innovators, government agencies and research organizations and equity providers to explore new technologies, Chief Executive Officer Chua Sock Koong said today. SingTel will be the sole owner of the new fund, the company said in a statement.
C&W gained as much as 5.7% to 77.1 pence at 8:10 a.m. in London.
Singapore Telecommunications (Z74.SG) fiscal 1Q net profit likely to edge down 1% on-year to $936 million, weighed by lower contribution from associates, higher expenses to buy World Cup rights; operating revenue likely +11.7% on-year, according to Dow Jones poll of five analysts.
Shares of Singapore Telecommunications (STEL.SI) fell as much as 2.24% in morning trade on Friday as the share went ex-dividend.
Over 4.8 million shares had changed hands and the shares dropped 7 cents to $3.05 by mid-day.
“It’s purely ex-dividend. The ex-dividend is 8 cents so the share price adjusted for it,” a trader at a local brokerage said.
Singtel announces its April-June quarter results next week and analysts said they are expecting an annual increase of around 4% in net profit.
Shares of SingTel have fallen 2% since the start of the year.
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The chief executive of NCS, a subsidiary of Singapore Telecommunications (STEL.SI), will retire on July 14, the parent company said in a statement.
Lim Eng, who is 54 and has worked in Singtel for 30 years, will be replaced by Chief Operating Officer NCS Chia Wee Boon.
NCS provides IT and communication engineering services and has offices across Asia, serving clients in banking, healthcare, aviation and education sectors.
Singtel’s CEO for international operations Lim Chuan Poh is also set to retire at the end of this year, the company announced earlier in June.
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Telkom, which said it sees single-digit percentage growth in second-quarter net profit, is shifting its focus to data services to earn higher profits as subscriber growth in Southeast Asia’s biggest economy slows. It also needs to invest heavily in telecoms infrastructure including towers.
Net income gained to $1.02 billion, or 6.4 cents a share, in the three months ended March 31, from $903 million, or 5.7 cents, a year earlier, the company said in a statement today. That compares with the $1.01 billion median estimate of three analysts surveyed by Bloomberg News.
