Singapore Teleommunications (Singtel)

Singtel’s associates’ had mixed results in 2QFY2025.

Singtel was breached by Chinese state-sponsored hackers this summer as part of a broader campaign against telecos and other critical infrastructure operators worldwide, reports Bloomberg.

Launched in 2014, Singtel claims the mobile wallet has over 1.4 million users.

The bank’s analysts name industrial, office and overseas REITs; ComfortDelGro and Singtel; and City Developments as some defensive plays.

DBS has “buy” calls for StarHub and Singtel with target prices of $1.54 and $3.82 respectively.

Chew notes that although the STI was on course to make a 17-year high with significant stock market volumes, there has been nostalgia over the bull markets of the 90s and the lead-up to 2007’s peak.

In other news this week, Australia's regulator approves network-sharing deal between Singtel's Optus and TPG Telecom.

Spillover demand from Singapore is boosting Johor's data centre industry. With 1GW planned in two years, is oversupply possible?

Singtel’s share price has increased by 13% m-o-m, alongside other positive developments.

Maybank Securities raises STI target to 3,583 points