SingTel – BT
SingTel seen getting a lift from associates
SINGAPORE Telecommunications Ltd shares gained the most in almost two weeks on speculation that earnings at its units will grow this year even as economic growth in Asia falters.
SingTel, as South-east Asia’s biggest telecommunications company is known, added over 4 per cent, to close at $2.65 on Wednesday, the sharpest gain since Jan 16.
‘There is still some growth in regional telcos,’ Carey Wong, an analyst at Oversea-Chinese Banking Corp’s broking unit, said in a telephone interview. ‘SingTel’s associates are serving under-penetrated markets, giving them room for growth.’
SingTel is due to announce third-quarter earnings on Feb 10. Bharti Airtel Ltd, India’s largest mobile-phone operator that is 15.6 per cent owned by SingTel, last week said third-quarter profit climbed 26 per cent after the company added record subscribers and widened its lead over rivals.
Besides Bharti, SingTel owns stakes in mobile-phone operators in Thailand, Indonesia, the Philippines and Pakistan. It also fully owns Optus, Australia’s second largest telecommunications company.