Latest news for Singapore Telecom (OTC:SNGNF) Stock

Singapore Telecommunications is Singapore's leading telecoms company. It owns extensive wired and wireless networks offering data and voice services to a broad customer base. Singtel's diverse investment portfolio spreads across the region. The firm wholly owns Optus in Australia and minority equity stakes in Airtel (29%) in India; Telkomsel (35%) in Indonesia; Globe Telecom (47%) in the Philippines; and Advanced Information Services (23%) and Intouch (21%) in Thailand. Singtel is majority-owned by the Singapore government.

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SingTel FQ3 Net Profit Drops 9.6%

SINGAPORE TELECM ORD 1000 by Singapore Telecommunications Ltd.

Singapore Telecommunications Ltd

Alibaba Group Holding Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) fintech subsidiary Ant Financial and gaming company Razer Inc&nbsp;(OTC: RAZFF) have joined the race to get Singapore&#39;s digital banking license.
<h3>Ant Financial Seeks Wholesale License</h3>
Ant Financial has applied for a wholesale bank license with the Monetary Authority of Singapore, Bloomberg <a href="https://www.bloomberg.com/news/articles/2020-01-02/ant-financial-applies-for-singapore-digital-banking-license?utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_medium=social&amp;utm_source=twitter&amp;utm_content=business&amp;sref=OCc4k8dQ">reported</a> on Thursday.
&quot;We look forward to contributing to the development of the digital banking landscape in Singapore,&quot; Ant Financial told Bloomberg in a statement.
The MAS is awarding as many as five digital banking licenses, including three wholesale bank and two full digital bank.
The licenses,&nbsp;<a href="https://www.mas.gov.sg/news/media-releases/2019/mas-to-issue-up-to-five-digital-bank-licences">announced</a> June last year,&nbsp;are aimed at increasing competition in the financial industry in the country by pitting technology and e-commerce companies against traditional banking giants.
&quot;The new digital bank licences mark the next chapter in Singapore&#39;s banking liberalisation journey. They will ensure that Singapore&#39;s banking sector continues to be resilient, competitive and vibrant,&quot; the MAS chairman Tharman Shanmugaratnam said at the time.
<h3>Rising Competition</h3>
San Diego-based gaming giant Razer also said on Wednesday that it has applied for the full bank license, which is another category, Bloomberg <a href="https://www.bloomberg.com/news/articles/2020-01-02/razer-joins-singapore-digital-bank-race-targets-millennials">reported</a>.
Razer has formed a consortium with other Singapore-based companies, including mobile internet company LinkSure Global, automotive marketplace Carro, and Insignia Ventures Partners, for the&nbsp;application process.
Earlier in the week, the Southeast Asian ride-sharing giant Grab Holdings Inc. said that it is also&nbsp;<a href="https://www.benzinga.com/fintech/19/12/15049956/singtel-grab-to-apply-for-joint-online-only-bank-license-in-singapore">applying</a> for a full banking license in partnership with telecom operator Singapore Telecommunications Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sngnf#OTC">SNGNF</a>).
<h3>Price Action</h3>
Alibaba&#39;s shares closed 0.38% lower at $212.10 on Tuesday. The shares added $3.92 in the after-hours trading.
Razer&#39;s shares closed 2.94% lower at $0.16 in the OTC market.

Alibaba's Ant Financial, Gaming Company Razer Apply For Singapore Digital Banking License

Nordic American Tankers Ltd (NYSE: <a class="ticker" href="/stock/nat#NYSE">NAT</a>) posted a wider fourth-quarter loss. Nordic American Tankers posted a quarterly loss of $17.7 million, or $0.37 per share, versus a year-ago loss of $12.8 million, or $0.27 per share. Its net voyage revenue fell 5.9% to $19.3 million. Analysts were expecting a loss of $0.29 per share on revenue of $26 million. 

Drew Industries Inc (NYSE: <a class="ticker" href="/stock/dw#NYSE">DW</a>) posted weaker-than-expected fourth-quarter profit. Drew Industries' quarterly profit rose to $4.1 million, or $0.18 per share, from $3.1 million, or $0.14 per share, in the year-ago period. Its net sales surged 50% to $160 million. Analysts were expecting earnings of $0.20 per share.

TAM SA (NYSE: <a class="ticker" href="/stock/tam#NYSE">TAM</a>) reported a 36% drop in its fourth-quarter profit. TAM's quarterly net profit fell to 95.5 million Brazilian reais ($55.3 million), from BRL150.1 million, in the year-ago period. Its fuel costs climbed 31.6% to BRL1.23 billion. TAM's net revenue surged 11% y/y to BRL3.6 billion. TAM's earnings before interest, tax, depreciation, amortization and aircraft rental costs (EBITDAR) rose to BRL611.9 million, from BRL506.8 million. For the full year of 2011, TAM posted a loss of BRL335.1 million, versus a year-ago profit of BRL637.4 million.

Orbotech Ltd (NASDAQ: <a class="ticker" href="/stock/orbk#NASDAQ">ORBK</a>) reported its Q4 earnings at $0.15 per share on revenue of $133.3 million.

Singapore Telecommunications Ltd (OTC: <a class="ticker" href="/stock/sngnf#OTC">SNGNF</a>) reported a 9.6% drop in its fiscal third-quarter net profit. SingTel's quarterly net profit fell to S$902 million (US$717 million), from S$998 million, in the year-ago period. However, analysts were expecting a net profit of S$931 million. Pretax profit from SingTel's regional mobile associates dipped 7.9% to S$449 million. SingTel's operating revenue climbed 2.7% y/y to S$4.83 billion from S$4.70 billion. However, analysts were expecting operating revenue of S$4.78 billion.

Regeneron Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="/stock/regn#NASDAQ">REGN</a>) reported a Q4 loss of $0.37 per share on revenue of $123.00 million. However, analysts were expecting a loss of $0.60 per share on revenue of $131.50 million.

Thai Oil (OTC: <a class="ticker" href="/stock/toipf#OTC">TOIPF</a>) reported a 65.7% surge in its 2011 net profit. Thai Oil's 2011 net profit climbed to THB14.85 billion ($481.5 million), from THB8.96 billion. However, analysts were expecting a net profit of THB14.69 billion. Thai Oil's revenue surged to THB448.77 billion from THB324.35 billion. 

KVH Industries Inc (NASDAQ: <a class="ticker" href="/stock/kvhi#NASDAQ">KVHI</a>) reported its Q4 EPS at $0.11 on revenue of $31.90 million. However, analysts were expecting earnings of $0.11 per share on revenue of $31.91 million.

Olympus Corp (OTC: <a class="ticker" href="/stock/ocpny#OTC">OCPNY</a>) posted a net loss in the fiscal third quarter. Olympus posted a quarterly net loss of Y756 million, versus a year-ago net profit of Y2.04 billion. Olympus' operating profit dropped to Y8.42 billion, versus Y9.66 billion, in the year-ago period. Its revenue surged to Y210.13 billion from Y206.69 billion.

Dai-ichi Life Insurance Co (OTC: <a class="ticker" href="/stock/dcnsf#OTC">DCNSF</a>) reported a 19% drop in its net profit in the April-December period. Dai-ichi Life's quarterly net profit fell to Y12.71 billion, from Y15.70 billion, in the year-ago period. Its revenue rose 5.7% to Y3.597 trillion, versus Y3.402 trillion. For the fiscal year ending March, the company continues to project a net profit of Y20 billion on revenue of Y4.780 trillion.

Anglo American Platinum Ltd (OTC: <a class="ticker" href="/stock/agppy#OTC">AGPPY</a>) reported a decline in its 2011 output and profit. Anglo American Platinum's refined platinum production fell 2% y/y to 2.53 million ounces. It plans to refine between 2.5 million and 2.6 million ounces in 2012, versus its earlier forecast of 2.7 million ounces. Anglo American Platinum's profit attributable to shareholders dropped to 3.591 billion rand, from ZAR9.959 billion, in the year-ago period.

Songa Offshore SE (OTC: <a class="ticker" href="/stock/sgazf#OTC">SGAZF</a>) reported a decline in its net profit for the fourth quarter. Songa Offshore's quarterly net profit fell to $35.77 million, from $93.29 million, in the year-earlier period. Its operating revenue dropped to $96.25 million from $159.13 million. Songa Offshore's EBITDA fell to $23.99 million, from $130.06 million.

India's Sun Pharmaceutical Industries Ltd reported a 91% rise in its Q3 net profit. Sun Pharmaceutical's quarterly net profit climbed to INR6.68 billion, from INR3.50 billion, in the year-ago period. Its sales surged 37% to INR21.45 billion from INR15.62 billion. Analysts were expecting a net profit of INR5.47 billion. 

Canacol Energy Ltd (OTC: <a class="ticker" href="/stock/caaef#OTC">CAAEF</a>) reported a narrower Q2 loss. Canacol Energy posted a quarterly net loss of $2.4 million, versus a year-ago net loss of $14.9 million. Canacol Energy's total revenue surged to $55.2 million.

Singapore Telecommunications Ltd (OTC: SNGNF) reported a 9.6% drop in its fiscal third-quarter net profit.

SingTel's quarterly net profit fell to S$902 million (US$717 million), from S$998 million, in the year-ago period. However, analysts were expecting a net profit of S$931 million. Pretax profit from SingTel's regional mobile associates dipped 7.9% to S$449 million. 

SingTel's operating revenue climbed 2.7% y/y to S$4.83 billion from S$4.70 billion. However, analysts were expecting operating revenue of S$4.78 billion.

In a report released yesterday, Kenneth TAN from CGS-CIMB reiterated a Buy rating on Singtel (SNGNF – Research Report), with a price target of S$2....

Buy Rating Affirmed for Singtel Amid Strategic Investments and Growth Prospects

Companies in the Communication Services sector have received a lot of coverage today as analysts weigh in on Universal Music Group (UMGNF – Researc...

Analysts Conflicted on These Communication Services Names: Universal Music Group (OtherUMGNF) and Singtel (OtherSNGNF)

In a report released today, Sachin Mittal from DBS maintained a Buy rating on Singtel (SNGNF – Research Report), with a price target of S$3.50. The...

Singtel (SNGNF) Receives a Buy from DBS

Analyst Kenneth TAN of CGS-CIMB reiterated a Buy rating on Singtel (SNGNF – Research Report), boosting the price target to S$3.30. Kenneth TAN has ...

Singtel's Promising Financial Outlook and Strategic Initiatives Merit a Buy Rating

Singtel (SG:Z74) has released an update. The Supreme Administrative Court has ruled in favor of Advanced Info Service Public Company Limited (AIS),...

AIS Triumphs in Supreme Court Revenue Dispute

Singtel (SG:Z74) has released an update. Singtel has announced a strategic restructuring where its associated company Intouch Holdings will amalgam...

Singtel Announces Major Corporate Restructuring

Singtel (SG:Z74) has released an update. Intouch Holdings Public Company Limited has announced a significant restructuring plan following a Board o...

Intouch Holdings Announces Major Restructuring

Singtel (SG:Z74) has released an update. Singtel Strategic Investments Pte. Ltd., alongside major shareholders of Gulf Energy Development and Intou...

Singtel Participates in Major Restructuring Deal

DBS Sticks to Their Buy Rating for Singtel (SNGNF)

UOB Kay Hian analyst Lee Len Chong maintained a Buy rating on Singtel (SNGNF – Research Report) today and set a price target of S$3.58. Lee Len Cho...

Buy Rating Affirmed for Singtel Amid Strategic Moves and Growth Prospects

UMGNF

Singapore Telecom

Alibaba Group Holding Ltd&nbsp;(NYSE:<a class="ticker" href="/stock/BABA#NYSE">BABA</a>) fintech subsidiary Ant Financial and gaming company Razer Inc&nbsp;(OTC:<a class="ticker" href="/stock/RAZFF#OTC">RAZFF</a>) have joined the race to get Singapore&#39;s digital banking license.

<h3>Ant Financial Seeks Wholesale License</h3>

Ant Financial has applied for a wholesale bank license with the Monetary Authority of Singapore, Bloomberg <a href="https://www.bloomberg.com/news/articles/2020-01-02/ant-financial-applies-for-singapore-digital-banking-license?utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_medium=social&amp;utm_source=twitter&amp;utm_content=business&amp;sref=OCc4k8dQ">reported</a> on Thursday.

&quot;We look forward to contributing to the development of the digital banking landscape in Singapore,&quot; Ant Financial told Bloomberg in a statement.

The MAS is awarding as many as five digital banking licenses, including three wholesale bank and two full digital bank.

The licenses,&nbsp;<a href="https://www.mas.gov.sg/news/media-releases/2019/mas-to-issue-up-to-five-digital-bank-licences">announced</a> June last year,&nbsp;are aimed at increasing competition in the financial industry in the country by pitting technology and e-commerce companies against traditional banking giants.

&quot;The new digital bank licences mark the next chapter in Singapore&#39;s banking liberalisation journey. They will ensure that Singapore&#39;s banking sector continues to be resilient, competitive and vibrant,&quot; the MAS chairman Tharman Shanmugaratnam said at the time.

<h3>Rising Competition</h3>

San Diego-based gaming giant Razer also said on Wednesday that it has applied for the full bank license, which is another category, Bloomberg <a href="https://www.bloomberg.com/news/articles/2020-01-02/razer-joins-singapore-digital-bank-race-targets-millennials">reported</a>.

Razer has formed a consortium with other Singapore-based companies, including mobile internet company LinkSure Global, automotive marketplace Carro, and Insignia Ventures Partners, for the&nbsp;application process.

Earlier in the week, the Southeast Asian ride-sharing giant Grab Holdings Inc. said that it is also&nbsp;<a href="https://www.benzinga.com/fintech/19/12/15049956/singtel-grab-to-apply-for-joint-online-only-bank-license-in-singapore">applying</a> for a full banking license in partnership with telecom operator Singapore Telecommunications Ltd. (OTC:<a class="ticker" href="/stock/SNGNF#OTC">SNGNF</a>).

<h3>Price Action</h3>

Alibaba&#39;s shares closed 0.38% lower at $212.10 on Tuesday. The shares added $3.92 in the after-hours trading.

Razer&#39;s shares closed 2.94% lower at $0.16 in the OTC market.

Nordic American Tankers Ltd (NYSE: <a class="ticker" href="/stock/nat#NYSE">NAT</a>) posted a wider fourth-quarter loss. Nordic American Tankers posted a quarterly loss of $17.7 million, or $0.37 per share, versus a year-ago loss of $12.8 million, or $0.27 per share. Its net voyage revenue fell 5.9% to $19.3 million. Analysts were expecting a loss of $0.29 per share on revenue of $26 million. 

Drew Industries Inc (NYSE: <a class="ticker" href="/stock/dw#NYSE">DW</a>) posted weaker-than-expected fourth-quarter profit. Drew Industries' quarterly profit rose to $4.1 million, or $0.18 per share, from $3.1 million, or $0.14 per share, in the year-ago period. Its net sales surged 50% to $160 million. Analysts were expecting earnings of $0.20 per share.

TAM SA (NYSE: <a class="ticker" href="/stock/tam#NYSE">TAM</a>) reported a 36% drop in its fourth-quarter profit. TAM's quarterly net profit fell to 95.5 million Brazilian reais ($55.3 million), from BRL150.1 million, in the year-ago period. Its fuel costs climbed 31.6% to BRL1.23 billion. TAM's net revenue surged 11% y/y to BRL3.6 billion. TAM's earnings before interest, tax, depreciation, amortization and aircraft rental costs (EBITDAR) rose to BRL611.9 million, from BRL506.8 million. For the full year of 2011, TAM posted a loss of BRL335.1 million, versus a year-ago profit of BRL637.4 million.

Orbotech Ltd (NASDAQ: <a class="ticker" href="/stock/orbk#NASDAQ">ORBK</a>) reported its Q4 earnings at $0.15 per share on revenue of $133.3 million.

Singapore Telecommunications Ltd (OTC: <a class="ticker" href="/stock/sngnf#OTC">SNGNF</a>) reported a 9.6% drop in its fiscal third-quarter net profit. SingTel's quarterly net profit fell to S$902 million (US$717 million), from S$998 million, in the year-ago period. However, analysts were expecting a net profit of S$931 million. Pretax profit from SingTel's regional mobile associates dipped 7.9% to S$449 million. SingTel's operating revenue climbed 2.7% y/y to S$4.83 billion from S$4.70 billion. However, analysts were expecting operating revenue of S$4.78 billion.

Regeneron Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="/stock/regn#NASDAQ">REGN</a>) reported a Q4 loss of $0.37 per share on revenue of $123.00 million. However, analysts were expecting a loss of $0.60 per share on revenue of $131.50 million.

Thai Oil (OTC: <a class="ticker" href="/stock/toipf#OTC">TOIPF</a>) reported a 65.7% surge in its 2011 net profit. Thai Oil's 2011 net profit climbed to THB14.85 billion ($481.5 million), from THB8.96 billion. However, analysts were expecting a net profit of THB14.69 billion. Thai Oil's revenue surged to THB448.77 billion from THB324.35 billion. 

KVH Industries Inc (NASDAQ: <a class="ticker" href="/stock/kvhi#NASDAQ">KVHI</a>) reported its Q4 EPS at $0.11 on revenue of $31.90 million. However, analysts were expecting earnings of $0.11 per share on revenue of $31.91 million.

Olympus Corp (OTC: <a class="ticker" href="/stock/ocpny#OTC">OCPNY</a>) posted a net loss in the fiscal third quarter. Olympus posted a quarterly net loss of Y756 million, versus a year-ago net profit of Y2.04 billion. Olympus' operating profit dropped to Y8.42 billion, versus Y9.66 billion, in the year-ago period. Its revenue surged to Y210.13 billion from Y206.69 billion.

Dai-ichi Life Insurance Co (OTC: <a class="ticker" href="/stock/dcnsf#OTC">DCNSF</a>) reported a 19% drop in its net profit in the April-December period. Dai-ichi Life's quarterly net profit fell to Y12.71 billion, from Y15.70 billion, in the year-ago period. Its revenue rose 5.7% to Y3.597 trillion, versus Y3.402 trillion. For the fiscal year ending March, the company continues to project a net profit of Y20 billion on revenue of Y4.780 trillion.

Anglo American Platinum Ltd (OTC: <a class="ticker" href="/stock/agppy#OTC">AGPPY</a>) reported a decline in its 2011 output and profit. Anglo American Platinum's refined platinum production fell 2% y/y to 2.53 million ounces. It plans to refine between 2.5 million and 2.6 million ounces in 2012, versus its earlier forecast of 2.7 million ounces. Anglo American Platinum's profit attributable to shareholders dropped to 3.591 billion rand, from ZAR9.959 billion, in the year-ago period.

Songa Offshore SE (OTC: <a class="ticker" href="/stock/sgazf#OTC">SGAZF</a>) reported a decline in its net profit for the fourth quarter. Songa Offshore's quarterly net profit fell to $35.77 million, from $93.29 million, in the year-earlier period. Its operating revenue dropped to $96.25 million from $159.13 million. Songa Offshore's EBITDA fell to $23.99 million, from $130.06 million.

India's Sun Pharmaceutical Industries Ltd reported a 91% rise in its Q3 net profit. Sun Pharmaceutical's quarterly net profit climbed to INR6.68 billion, from INR3.50 billion, in the year-ago period. Its sales surged 37% to INR21.45 billion from INR15.62 billion. Analysts were expecting a net profit of INR5.47 billion. 

Canacol Energy Ltd (OTC: <a class="ticker" href="/stock/caaef#OTC">CAAEF</a>) reported a narrower Q2 loss. Canacol Energy posted a quarterly net loss of $2.4 million, versus a year-ago net loss of $14.9 million. Canacol Energy's total revenue surged to $55.2 million.

Singapore Telecommunications Ltd (OTC: SNGNF) reported a 9.6% drop in its fiscal third-quarter net profit.

SingTel's quarterly net profit fell to S$902 million (US$717 million), from S$998 million, in the year-ago period. However, analysts were expecting a net profit of S$931 million. Pretax profit from SingTel's regional mobile associates dipped 7.9% to S$449 million. 

SingTel's operating revenue climbed 2.7% y/y to S$4.83 billion from S$4.70 billion. However, analysts were expecting operating revenue of S$4.78 billion.


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