M1 (formerly: MobileOne)

[AlphaQuant]

In a release, M1 Limited today announced the launch of its new 4G Prepaid SunSurf plans, Singapore’s first 4G prepaid mobile service for smartphones.
With the new 4G Prepaid SunSurf plans for smartphones and recently launched 4G prepaid broadband service, visitors and local prepaid customers now have access to M1’s ultra-fast nationwide 4G network to enjoy an enhanced experience on their smartphones, tablets and other mobile devices.

M1 is also pleased to introduce a new SunSurf plan with extended validity. At just $20, the 1GB local data is now valid for 30 days’ usage - giving customers more time and flexibility to do more of the things they like anytime, anywhere.

Prepaid customers can simply dial #100*7# from their mobile phones to subscribe to any of the 4G SunSurf plans.

[CityFarmer]

In a release, M1 Limited today announced the launch of its new 4G Prepaid SunSurf plans, Singapore’s first 4G prepaid mobile service for smartphones.
With the new 4G Prepaid SunSurf plans for smartphones and recently launched 4G prepaid broadband service, visitors and local prepaid customers now have access to M1’s ultra-fast nationwide 4G network to enjoy an enhanced experience on their smartphones, tablets and other mobile devices.

M1 is also pleased to introduce a new SunSurf plan with extended validity. At just $20, the 1GB local data is now valid for 30 days’ usage - giving customers more time and flexibility to do more of the things they like anytime, anywhere.

Prepaid customers can simply dial #100*7# from their mobile phones to subscribe to any of the 4G SunSurf plans.

Yes, good work from M1's management. I am pleased as shareholder especially so after the recent AGM, and will continue be.

Are you shareholder too?

[AlphaQuant]

Yes, good work from M1's management. I am pleased as shareholder especially so after the recent AGM, and will continue be.

Are you shareholder too?

yup (hence posting relevant info here for sharing) - and keen to add more on dips.

i like their focus on doing what they do best, and not doing unnecessary troubles e.g. overseas expansion, paytv etc.

[CityFarmer]

Yes, good work from M1's management. I am pleased as shareholder especially so after the recent AGM, and will continue be.

Are you shareholder too?

yup (hence posting relevant info here for sharing) - and keen to add more on dips.

i like their focus on doing what they do best, and not doing unnecessary troubles e.g. overseas expansion, paytv etc.

Nice to meet you, fellow shareholder in VB.

[a74henry]

I am a M1 user. I am considering buying M1 shares.

What is its intrinsic value? What is the dividend yield?

[CityFarmer]

M1 Q1 result is announced today

http://info.sgx.com/webcoranncatth.nsf/V...F002E4E13/$file/1Q13SGXAnnouncement.pdf?openelement

Summary:
- Service revenue increased 4.2% YoY to S$200m. International call service revenue reduces as expected, but mitigated by increase of mobile and fixed service revenue.
- EBITDA margin at 39.5% of service revenue, slightly reduced from 40.1% 1Q12
- Net profit after tax increased 8.4% QoQ and 1.8% YoY to S$41m, the margin reduced slight from 21% 1Q12
- Fibre customer base increased to 60,000. The customer base increases consistently 8K/Q for last few Qs.
- Net debt/EBITDA reduces from 0.85 to 0.65 YoY
- Net Cash increase from 7 mil to 64 mil YoY

So far as good. Looking forward for the coming half year report.

(vested)

[CityFarmer]

Maybank Kim Eng and Phillip Capital report on M1. What a wide difference in TP The current market price is $3.08, which is the highest so far IIRC.

http://remisiers.org/cms_images/research...704131.pdf
http://remisiers.org/cms_images/research...130417.pdf

Kim Eng: TP $3.55 BUY
Upgrade to BUY. We recommend a switch to M1 from SingTel and StarHub. Dividend yield of 5% is decent but that is not the main reason to buy the stock. Instead, the relative underperformance of the stock this year vs. peers provides a chance to get in early on potential earnings upside from the adoption of 4G, which we believe will happen faster and sooner than expected in 2013. Already, the early numbers in the 1Q13 results are encouraging. We upgrade M1 to BUY with a DCF-derived target price of SGD3.55, the top end of consensus

Phillip Capital: TP $2.58 Hold
M1 is the 3rd largest Telecommunications company in Singapore. The introduction of NGNBN in Singapore lowered entry barriers to the Fixed Line business, which would allow M1 to venture into the corporate and retail broadband market.
- 1.7% y-y increase in Net Income, Service revenue healthy with 4.1% y-y growth
- Positive on 11% of re-contracting customers upgrading to higher tiered postpaid plans
- Maintain Neutral, with new TP of S$2.58.

[CityFarmer]

Telecom statistic of Feb 2013 is updated today

http://www.ida.gov.sg/Infocomm-Landscape...13-Jan-Jun

By doing a recap on year 2012 statistic numbers (Jan 2012 - Dec 2012)

- Non-migrated fiber subscribers (est with total fiber subscribers - total reduction of cable & DSL's subscribers) are average 10K per Q. M1 new fiber subscribers are average 8K per Q. M1 had captured most of the new subscribers. With expiring of existing contract of Singtel and Starhub, M1 will capture more with migrated subscribers, hopefully
- Base on Dec 2012 statistic on fiber subscribers, Singtel has 60% market share, M1 has 20%. Starhub does not publish its fiber customer number, but it should not be too far from M1. It seems that other RSPs play very minor role at the moment, with little market share.

[CityFarmer]

M1's 8 cents dividends is credited today.

Looking forward for better dividend in the next few years...

One fellow shareholder suggested quarterly dividend in the AGM, instead of half-yearly. I concur with the idea. Shall we see quarterly dividend in FY2013? I hope so...

[NTL]

M1's 8 cents dividends is credited today.

Looking forward for better dividend in the next few years...

One fellow shareholder suggested quarterly dividend in the AGM, instead of half-yearly. I concur with the idea. Shall we see quarterly dividend in FY2013? I hope so...

Will this lead to higher administrative costs?