SingTel

well it is congrats to the people that don't pay heed to safety and valuation. singtel announces a weaker than the last few years report and their share price ends up in new high.

the only explanation is that overseas money looking for a yield haven.

(15-05-2013, 10:29 AM)Drizzt Wrote: well it is congrats to the people that don't pay heed to safety and valuation. singtel announces a weaker than the last few years report and their share price ends up in new high.

the only explanation is that overseas money looking for a yield haven.

Ya lol!
If i always go by logic, sometimes people will say i am heartless or pig-headed. So it shall apply to the market sometimes too. No?
i have bought Singtel @ $3.59 many years ago and refuse to average down when there were opportunities. i may want to sell it now or very soon.

Singtel has been one of my dividend stocks (ie yielder as opposed to value or grower). My entry point was 3.22 on average.

Now it seems to me my original investment thesis is not valid as I see more capital downside/less upside versus the universe of companies out there. Sold half my holdings today.

Actually when you take out the exceptional items, the underlying net profit is down by -2.2%. After added back the loss of divestment Warid Pakistan etc $145M, and exceptional tax credit $254M, the net profit is not that far off from the last year quarter.

Do i miss out anything?

I am just a bit concerned about the drop in revenue in Australia, wonder if Optus losing its competition. This Optus is really the money not worth it at all.

(15-05-2013, 10:29 AM)Drizzt Wrote: well it is congrats to the people that don't pay heed to safety and valuation. singtel announces a weaker than the last few years report and their share price ends up in new high.

the only explanation is that overseas money looking for a yield haven.

The interesting thing was the PE of Singtel is in recent times, trading lower than the other 2 TELCOs. Even with the latest set of lower earnings, PE is still slightly lower. It'd appear that your Yield observation may be true to a large extent as now, with lower earnings, but increasing the payout rate for a higher dividend, prices is going up... Interesting times indeed!

(15-05-2013, 11:01 AM)KopiKat Wrote:

(15-05-2013, 10:29 AM)Drizzt Wrote: well it is congrats to the people that don't pay heed to safety and valuation. singtel announces a weaker than the last few years report and their share price ends up in new high.

the only explanation is that overseas money looking for a yield haven.

The interesting thing was the PE of Singtel is in recent times, trading lower than the other 2 TELCOs. Even with the latest set of lower earnings, PE is still slightly lower. It'd appear that your Yield observation may be true to a large extent as now, with lower earnings, but increasing the payout rate for a higher dividend, prices is going up... Interesting times indeed!

I agreed with hongonn's observation that FY13 is not bad, after excluded EI. At group level, EBITDA and share of associates pre-tax profits is +5% YoY to $2,106 mil. EBITDA margin is also better by almost 1 pc point. FCF at group level is also close to +9% better, to $3,759 mil.

At Optus level, revenue reduced, but EBITDA margin increased by more than 1 pc point to 26.7%, thus EBITDA is more YoY from A$2357 mil to A$2381 mil. IMO, probably not too much worry on Optus.

IMO, there is more upsides pending, within this year, till early next year. Base on the crystal ball of mine (quite similar as KopiKat's one), more dividend will be paid out as special dividends due to asset realization exercises.

(vested)

i havent look at the results in detail but fcf is a more important factor. singtel have been increasing their payout since 2000. else they ahve stalled. for them to increase the payout is good that perhaps they see good things on the horizon.

still at best this results compares favoribly with 2 years ago. yet prices only went on a surge now. i still stand by that when lacklusture div stocks like starhub, m1, singtel and singpost can surge like this, likely its not due to good earnings performance.

(15-05-2013, 10:48 AM)Temperament Wrote:

(15-05-2013, 10:29 AM)Drizzt Wrote: well it is congrats to the people that don't pay heed to safety and valuation. singtel announces a weaker than the last few years report and their share price ends up in new high.

the only explanation is that overseas money looking for a yield haven.

Ya lol!
If i always go by logic, sometimes people will say i am heartless or pig-headed. So it shall apply to the market sometimes too. No?
i have bought Singtel @ $3.59 many years ago and refuse to average down when there were opportunities. i may want to sell it now or very soon.

Why didn't u average down?

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(15-05-2013, 11:01 AM)KopiKat Wrote: The interesting thing was the PE of Singtel is in recent times, trading lower than the other 2 TELCOs. Even with the latest set of lower earnings, PE is still slightly lower. It'd appear that your Yield observation may be true to a large extent as now, with lower earnings, but increasing the payout rate for a higher dividend, prices is going up... Interesting times indeed!

Yes. Interesting times indeed.

When u see even Apple is giving out dividends, u know we are living in the 'Era of Dividends'.......

Apple is giving out dividends because it is an inefficient use of cash lying around. This and singtel's plight is totally different.

(15-05-2013, 01:34 PM)Dividend Warrior Wrote:

(15-05-2013, 10:48 AM)Temperament Wrote:

(15-05-2013, 10:29 AM)Drizzt Wrote: well it is congrats to the people that don't pay heed to safety and valuation. singtel announces a weaker than the last few years report and their share price ends up in new high.

the only explanation is that overseas money looking for a yield haven.

Ya lol!
If i always go by logic, sometimes people will say i am heartless or pig-headed. So it shall apply to the market sometimes too. No?
i have bought Singtel @ $3.59 many years ago and refuse to average down when there were opportunities. i may want to sell it now or very soon.

Why didn't u average down?

---

(15-05-2013, 11:01 AM)KopiKat Wrote: The interesting thing was the PE of Singtel is in recent times, trading lower than the other 2 TELCOs. Even with the latest set of lower earnings, PE is still slightly lower. It'd appear that your Yield observation may be true to a large extent as now, with lower earnings, but increasing the payout rate for a higher dividend, prices is going up... Interesting times indeed!

Yes. Interesting times indeed.

When u see even Apple is giving out dividends, u know we are living in the 'Era of Dividends'.......

i just don't want to buy more than 5 lots for this counter though dividend yield is not too bad. I should have.