This is a follow-up post to my Singtel post from last month. I decided to park some cash in Singtel after their results came out on May 18. As expected, there was an overall drop in net earnings and group revenue - overall group revenue dipped 1.5% from the previous year, down to S$ 16.71 billion. Net profit dipped only slightly in comparison, down 0.5% to S$ 3.85 billion. Share prices dipped slightly in the following week, but stayed above 3.70, and eventually recovered past 3.80 at one point.
Source: Google Finance
I re-invested with an eye towards data and technological development, mainly the Netlink Trust IPO, which should result in an upwards movement in stock price for Singtel, as well as a warchest for expansion due to divestment of Netlink Trust holdings. Singtel has announced that they are making good progress, and hope to proceed with the IPO this financial year.
There are...