At a time when Starhub and M1 share prices were dropping like flies, Singtel share price is in supreme form. The corrections for Starhub and M1 shares were due to the announcement of the entry of the fourth telco player, TPG Telecom, which made the winning bid of $105 million for the licence in December 2016. When investing in stocks, always place your bets on the players with the biggest investment moats in the industry. Size matters and you don’t want to catch a falling knife investing in smaller companies which cannot withstand changes in market forces. Singapore market Over the past twenty years, the telecommunication industry in Singapore has witnessed an explosive growth in mobile penetration rate, growing from 20% to the current 150%. In view of this, the market is already very saturated and the potential for growth is also limited because of Singapore’s small market ......