M1 (formerly: MobileOne)

[CityFarmer]

- the small cell technology has been around for a while (i remember cna did a feature on alcatel product) but achieved very low take up rate. Apparently there are commerical/strategic issues inhibiting this growth.

Yes, the technology has been around for a while, but seems work well with 4G deployment, thus MyRepublic will focus only on 4G.

(vested)

[mkmk]

Financial Statements: http://infopub.sgx.com/Apps?A=COW_CorpAn...cement.pdf

Presentation Slides: http://infopub.sgx.com/Apps?A=COW_CorpAn...Slides.pdf

Media Release: http://infopub.sgx.com/Apps?A=COW_CorpAn...elease.pdf

Net profit after tax increased 6.6% year-on-year to S$45.7 million in 1Q2015

- Service revenue increased 0.2% year-on-year to S$204.4 million, with continued growth in mobile and fixed services revenues offsetting a decline in international call services revenue.

- Non-voice revenue rose 6.9 percentage points year-on-year to 52.0% of service revenue.

- During the quarter, M1 added 8,000 postpaid customers and 10,000 prepaid customers, bringing the total mobile customer base to 1.87 million as at 31 March 2015.

Not Vested

[CityFarmer]

The share price is reacting to analyst reports. The concern still on the possibility of 4th mobile operator. IMO, the likelihood of the new operator is very slim, due to its requests to IDA. The current mobile penetration of 148% (IDA statistic), and the demanding QoS, especially the national coverage requirement, will kill the feasibility of new entrance into the mobile market. Unless IDA gives concessions to MyRepublic, otherwise I don't see MyRepublic can survive.

(vested)

M1 downgraded to "hold" by DBS Vickers; $4.05 target intact
http://www.theedgemarkets.com/sg/article...get-intact

M1 downgraded to "neutral" by CIMB; $3.80 target intact
http://www.theedgemarkets.com/sg/article...get-intact

[Sampling]

Perhaps MyRepublic will become a new MVNO player in SG similar to Virgin Mobile years ago?

This may mitigate the large costs involved of setting up the necessary infrastructure to provide the national coverage?

[CityFarmer]

Perhaps MyRepublic will become a new MVNO player in SG similar to Virgin Mobile years ago?

This may mitigate the large costs involved of setting up the necessary infrastructure to provide the national coverage?

Virgin Mobile quit after one year of operation. The model might not work in Singapore, especially with high mobile penetration rate.

Anyway, base on the initial info, MyRepublic isn't looking at this model, as far as I know.

[CityFarmer]

Net profit after tax increased 6.6% year-on-year to S$45.7 million in 1Q2015

- Service revenue increased 0.2% year-on-year to S$204.4 million, with continued growth in mobile and fixed services revenues offsetting a decline in international call services revenue.

- Non-voice revenue rose 6.9 percentage points year-on-year to 52.0% of service revenue.

- During the quarter, M1 added 8,000 postpaid customers and 10,000 prepaid customers, bringing the total mobile customer base to 1.87 million as at 31 March 2015.

To add-on, after the review on 1Q2015

- EBITDA and net profit margins improved to 40.8% and 22.4%. Both margin will be further improved, with 4G data and fixed service corporate customers.
- Fixed service user increased further to 108K
- Average smartphone data usage increased to 3.2GB per month from 2.8GB per month
- 4G voice was launched i.e. VoLTE

(vested)

[CityFarmer]

Heterogeneous high-speed wireless network access, is the trend in Singapore. It is also the preferred offer from consumer point of view. IIRC, SingTel has been already offering limited outdoor Wifi-3G/4G to its users.

(vested)

Wireless Internet trial network to be launched at Jurong Lake District

SINGAPORE (April 22): Singapore will launch trials for a heterogeneous IT network at the Jurong Lake District for testing wireless high-speed Internet access.

All three telcos, as well as MyRepublic, will be involved in the initial phase of the trials, which will be carried out in locations such as lifts, pedestrian walkways, the bus interchange and the MRT station, according to a statement today from the Infocomm Development Authority of Singapore (IDA).

The trials are expected to run from 3Q2015 to the end of the year.

"Through the trials, industry players will evaluate optimal solutions to ease network congestion in areas with heavy human traffic," IDA said in its statement.

"IDA is exploring (the heterogeneous network) as a strategy to mitigate the potential crunch in wireless spectrum usage, available traffic capacity, and the provision of seamless connectivity every time and everywhere, indoors and outdoors."
http://www.theedgemarkets.com/sg/article...e-district

[CityFarmer]

More contractors will speed-up the penetration rate, especially among corporate customers. M1 is the first sub-con. Speeding-up fiber roll-out benefits M1 the most, comparing with the other two players.

(vested)

NetLink Trust to hire subcontractors to roll out nationwide fibre network

Singapore — NetLink Trust, the new entity rolling out the Republic’s nationwide fibre network, is hiring a new subcontractor — and maybe more — to handle work related to the network.

It is also introducing a process to make it faster for consumers to switch fibre broadband providers.

NetLink Trust acquired OpenNet in 2013 and, as part of an overhaul aimed at strengthening its expertise, appointed a chief financial officer for the first time earlier this month.

Analysts said appointing more subcontractors from the telco sector to help work on the fibre network could reduce bottlenecks, which NetLink Trust had been plagued by.

Last December, it was fined for the third time in two years for not being able to complete its orders, albeit on the back of an improved performance.

The move could also help it cope with new infrastructure demand in Singapore’s move to becoming a Smart Nation.
...
http://www.todayonline.com/business/netl...epage=true

[Dividend Warrior]

MyRepublic giving out 1000 free sim cards for mobile trial...

[CityFarmer]

MyRepublic giving out 1000 free sim cards for mobile trial...

More detail on the news.

The Infocomm Development Authority has yet to award the fourth telco licence. What MyRepublic has received is a provisional licence for taking part in the Government's trial of HetNet, or heterogeneous network, in Jurong Lake District in the second half of this year. HetNet is a new wireless system that lets mobile phone users automatically hop across networks to minimise surfing slowdowns or disruptions. - See more at: http://www.straitstimes.com/news/singapo...DW0cM.dpuf