M1 (formerly: MobileOne)

[Dividend Warrior]

We should focus on service revenue, rather on operating revenue, for the overall performance.

Service revenue of 612.8 mil (9-months FY13) versus 577.4 mil (9-months FY12), +6% increment. PBT and NP increased by +9% and +10% respectively. It should tally with your expectation.

One point to note is fiber customer increased by 10K for Q3, rather than the previous 7-8K per Q. Let's hope the increment will sustain. The fixed service's revenue was 45 mil (9 months FY13) versus 36 mil (9 month FY12), an increment of +25%

(vested)

I agree that the result is good overall.

EPS (9 months) has increased from 11.9 cents to 13 cents. That means EPS per quarter is around 4.3 cents on average. Based on estimation, full EPS should be around 17.2 cents this year.

Last year, the EPS was 16.1 cents, with total dividend payout of 14.8 cents. This represents a payout ratio of around 90%.

If the management of M1 continues to follow the same 90% payout ratio, then will we see a potential increase in total dividends next year? 90% of 17.2 cents is around 15.4 cents.

[NTL]

We should focus on service revenue, rather on operating revenue, for the overall performance.

Service revenue of 612.8 mil (9-months FY13) versus 577.4 mil (9-months FY12), +6% increment. PBT and NP increased by +9% and +10% respectively. It should tally with your expectation.

One point to note is fiber customer increased by 10K for Q3, rather than the previous 7-8K per Q. Let's hope the increment will sustain. The fixed service's revenue was 45 mil (9 months FY13) versus 36 mil (9 month FY12), an increment of +25%

(vested)

Gee.... Thanks. I should read more before asking.

Indeed the revenue in the area I mentioned are increasing.

And thanks to mkmk to point out the drop in handset sold is the cause of the overall drop in revenue. I guess alot of people are picking up free or cheaper handsets rather than paying for higher priced handsets?

To DW, iphone 5S and Samsung S4 were not out till mid Sep. Maybe not enough time to generate the needed handset revenue? See if this quarter will be better. Iphone 5S keep having sold out.

[countonme]

the fibre customers have doubled. Good progress in this area.

Vested.

[Dividend Warrior]

the fibre customers have doubled. Good progress in this area.

Vested.

Yup. Good progress.

If they can get at least 10,000 subscribers for their MiBox service, they can start to cross-carry BPL content from Singtel.

Vested.

---

To DW, iphone 5S and Samsung S4 were not out till mid Sep. Maybe not enough time to generate the needed handset revenue? See if this quarter will be better. Iphone 5S keep having sold out.

That's true. We will have to wait for another quarter to see the full effect of the new phones.

[CityFarmer]

Last year, the EPS was 16.1 cents, with total dividend payout of 14.8 cents. This represents a payout ratio of around 90%.

If the management of M1 continues to follow the same 90% payout ratio, then will we see a potential increase in total dividends next year? 90% of 17.2 cents is around 15.4 cents.

The informal guideline of the dividend payout is 80%, and plus special dividend as warranted.

FY2012, the EPS was 16.1 cents, 80% payout was 12.9 cents (Interim 6.6 cents + Final 6.3 cents), plus special dividend of 1.7 cents, that summed up as 14.8 cents.

Base on estimated EPS of 17.2 cents, the total dividend will be approx 13.8 cents, excluding special dividend if any.

[Dividend Warrior]

Last year, the EPS was 16.1 cents, with total dividend payout of 14.8 cents. This represents a payout ratio of around 90%.

If the management of M1 continues to follow the same 90% payout ratio, then will we see a potential increase in total dividends next year? 90% of 17.2 cents is around 15.4 cents.

The informal guideline of the dividend payout is 80%, and plus special dividend as warranted.

FY2012, the EPS was 16.1 cents, 80% payout was 12.9 cents (Interim 6.6 cents + Final 6.3 cents), plus special dividend of 1.7 cents, that summed up as 14.8 cents.

Base on estimated EPS of 17.2 cents, the total dividend will be approx 13.8 cents, excluding special dividend if any.

Ok. Understood.
Thanks.

[CityFarmer]

Base on observation, there were changes in the competition landscape of fiber broadband service in Singapore

- M1 has moved up to 200 Mbps as base offer, with same price tag, $39/month.
- SingTel has unbundled its plan with mioTV. The latest offer is $43.7/month, 200Mbps, and only free online matches on Sunday night, instead of MioTV packages
- Starhub has done the same. The latest offer is $49.9/month, 200Mbps, and Anytime TV, instead of cable TV packages.

In the last quarter from (Jun-Sep), net broadband subscription (increment of fiber user - decrement of cable user - decrement of xDSL user) was 16K, while 10K among them went to M1.

The bundling with cable TV seemed losing its charm to new fiber users...

Ref: http://www.ida.gov.sg/Infocomm-Landscape...13-Jul-Dec
Ref: M1 3Q report

(vested)

[NTL]

Base on observation, there were changes in the competition landscape of fiber broadband service in Singapore

- M1 has moved up to 200 Mbps as base offer, with same price tag, $39/month.
- SingTel has unbundled its plan with mioTV. The latest offer is $43.7/month, 200Mbps, and only free online matches on Sunday night, instead of MioTV packages
- Starhub has done the same. The latest offer is $49.9/month, 200Mbps, and Anytime TV, instead of cable TV packages.

In the last quarter from (Jun-Sep), net broadband subscription (increment of fiber user - decrement of cable user - decrement of xDSL user) was 16K, while 10K among them went to M1.

The bundling with cable TV seemed losing its charm to new fiber users...

Ref: http://www.ida.gov.sg/Infocomm-Landscape...13-Jul-Dec
Ref: M1 3Q report

(vested)

Those who know how, will be able to watch free TV shows online, so why still need Cable TV.

Last weekend, all the telcos are offering 6mths free subscriptions for their plans. The question my wife asking was, how did other telcos know what their competitors intend to do? Leaking of information, or sharing of information?

[opmi]

Coz all share the ultimate grand-daddy??

[CityFarmer]

Base on observation, there were changes in the competition landscape of fiber broadband service in Singapore

- M1 has moved up to 200 Mbps as base offer, with same price tag, $39/month.
- SingTel has unbundled its plan with mioTV. The latest offer is $43.7/month, 200Mbps, and only free online matches on Sunday night, instead of MioTV packages
- Starhub has done the same. The latest offer is $49.9/month, 200Mbps, and Anytime TV, instead of cable TV packages.

In the last quarter from (Jun-Sep), net broadband subscription (increment of fiber user - decrement of cable user - decrement of xDSL user) was 16K, while 10K among them went to M1.

The bundling with cable TV seemed losing its charm to new fiber users...

Ref: http://www.ida.gov.sg/Infocomm-Landscape...13-Jul-Dec
Ref: M1 3Q report

(vested)

Those who know how, will be able to watch free TV shows online, so why still need Cable TV.

Last weekend, all the telcos are offering 6mths free subscriptions for their plans. The question my wife asking was, how did other telcos know what their competitors intend to do? Leaking of information, or sharing of information?

Well, sharing of info will mean price-fixing. CCS will intervene. I doubt they will expose themselves with the risk.

It is very likely that other telcos follow suit after one's promotion went public. It shows that the telcos' marketing team efficiency...