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Post Info TOPIC: SingTel
tfwee


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RE: SingTel
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Singapore Telecom unit C2C receivers to auction company 17 October 2005, 09:03


SINGAPORE (XFN-ASIA) - C2C Pte Ltd, the submarine cable subsidiary of Singapore Telecommunications Ltd, has been put on auction by its receivers, SingTel said.

"Rod Sutton and Tim Reid, in their capacity as receivers and managers of the issued shares of C2C seek expressions of interest for the acquisition of all the issue shares of C2C," according to a paid advertisement placed by the receivers in the Business Times today.

The receivers said interested parties should lodge their interest by Oct 26.

C2C, which is 59.5 pct-owned by SingTel, was placed under receivership by its creditors despite an in-principle agreement in January 2004 between the creditors, C2C and SingTel to restructure C2C's 650 mln usd debt.

"Notwithstanding the foregoing, discussions with the lenders have not ceased," SingTel said in a brief statement.

Comment: I wonder how it will affect Singtel performance. Would there be a write off.

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tfwee


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NZ PRESS:Optus Instigated AAPT Talks,May Face Competition
WELLINGTON (Dow Jones)--Singapore Telecommunications Ltd.'s (T48.SG) Australian unit Optus has instigated talks to buy Telecom Corp. of New Zealand's (TEL.NZ) Australian business AAPT, The Australian newspaper reported on its Web site Thursday.

The unsourced report said Optus has "resuscitated discussions on a deal that was first explored by the companies two years ago". The report added that Optus may face competition because at least one other local telecommunications is interested in AAPT.

An Optus spokeswoman wouldn't comment, the newspaper said.

The report added that Optus Chief Executive Paul O'Sullivan is in preliminary, ongoing talks with Telecom's Chief Financial Officer Marko Bogoievski.

Newspaper Web site: http://www.theaustralian.com.au

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KK


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Optus Misses 3G Roll-Out Targets
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Wednesday October 5, 6:25 AM


AUSTRALIA PRESS: Optus Misses 3G Roll-Out Targets


SYDNEY (Dow Jones)--Singapore Telecommunications Ltd.'s (T48.SG) Australian unit Optus may miss the Christmas sales period for third-generation mobile phones after failing to meet key rollout targets for its A$600 million 3G network with Vodafone Group PLC (VOD) in August, the Australian newspaper reports Wednesday. Citing unnamed company sources, the report says the main problems stem from delays at network equipment supplier Nokia, although a Nokia spokeswoman said the company was meeting milestones. Joint venture chairman Andy Reeve declined to comment on the problems, but said the venture was on track, the report adds. The Christmas sales period runs from mid-October to the end of December, and accounts for up to 40% of annual sales.


 



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KK


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SingTel May Sell Indonesia Network Stake
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Wednesday October 5, 8:03 AM


SINGAPORE PRESS: SingTel May Sell Indonesia Network Stake


SINGAPORE (Dow Jones)--Singapore Telecommunications Ltd. (T48.SG) is in talks to sell its stake in a fixed-line phone network in eastern Indonesia to Telekomunikasi Indonesia (TLKM.JK), the Straits Times reports Wednesday, citing Telkom Deputy President Garuda Sugardo.


If it goes ahead, the sale is expected to return a profit to SingTel over the S$47 million investment in the network, industry watchers said, although no specific figures were suggested, the paper reports.


In 1995, SingTel took a 40% stake in Bukaka SingTel, the joint venture company which operates the network. Its Indonesian partner Bukaka Telekomindo owns the rest of the joint venture.



-- Edited by KK at 09:20, 2005-10-05

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SINGAPORE (XFN-ASIA) - Merrill Lynch said it has upgraded its fair value for Singapore Telecommunications to 2.71 sgd per share from 2.57 sgd previous after upgrading earnings estimates for SingTel's 31 pct-owned Indian associate Bharti.

Merrill Lynch said it has upgraded earnings estimates for Bharti by 10 pct for the years to March 2006 through 2008 and this has lifted the earnings estimate for SingTel marginally in the years to March 2006 and 2007.

"Despite the upgrade to our Bharti forecasts, we still see risks for Optus, particularly in the year to March 2007," Merrill said.

"We some some risks that the factors behind the earnings decline this year (ie increased mobile competition) will remain in the year to March 2007 and not allow an earnings rebound in that year," it said.

Merrill said it is keeping its "neutral" rating on SingTel.

SingTel closed the morning session down 0.02 sgd or 0.82 pct at 2.43 with 5.59 mln shares traded.

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tfwee


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Extracted From Dow Jones Newswires (October 02, 2005 23:12 ET)

Lehman Ups SingTel Target To S$3.10 From S$2.65

Comments: Recently, Singtel has recieved a few upgrade for its Target Price after the negative news from profit downgrade at Optus and PT Telekomunikasi Selular. I mentioned that my target price was $2.45 but I have not taken any action in buying the stocks yet.

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KK


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All abt SingTel

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