Analyst reports after the recent 1H FY2015 result. The moderate growth in NP in FY2015, remains intact.
(vested)
M1 kept at ‘buy’ by Deutsche Bank with $4.05 target price
SINGAPORE (July 21): Deutsche Bank is keeping its “buy” call on M1 with a target price of $4.05 given that management has indicated it is well prepared for any change in the competitive landscape.
...
http://www.theedgemarkets.com/sg/article...rget-price
M1 kept at ‘hold’ by Maybank KimEng with $3.65 target price
SINGAPORE (July 21): Maybank ( Financial Dashboard) KimEng is maintaining its ‘hold’ recommendation on telco M1 with a target price of $3.65 pending the introduction of Singapore’s fourth mobile phone operator into the competitive landscape.
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http://www.theedgemarkets.com/sg/article...rget-price
I agree with the report. Base on past experience, one-time goodies and rebates may be sufficient to fence off the new competition, rather than lower the price plans. Acquisition cost might be higher, but the impact is much lower, after amortization.
(vested)
Impact of fourth mobile network operator ‘limited’ in short term, says Fitch
SINGAPORE (July 22): The entry of Singapore’s fourth mobile network operator (MNO) should only have a “limited” impact on the sector in the short term, says Fitch Ratings.
The international ratings agency believes the potential for a new MNO to build market share over the next five years is limited.
According to Fitch, the new entrant will face significant capital investment costs at the outset to build out its infrastructure, while the three incumbents – Singtel, Starhub and M1 – will continue to hold much more spectrum.
“We expect large cash burn for the MNO, limiting its ability to compete aggressively in terms of pricing in the initial period,” says Fitch in a statement released on Wednesday.
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http://www.theedgemarkets.com/sg/article...says-fitch
I have updated my write-up on M1, after the recent market updates, and the latest 1H2015 report.
The valuation methodology was "up-graded", and hopefully arrived at a more accurate valuation.
All comments are welcomed.
M1 is the most open, and earliest adopter of new technologies, among the peers in Singapore.
- M1 is more advance in VoLTE, comparing with SingTel.
- M1 has already deployed small cell technology, in a smaller scale, comparing with StarHub and SingTel.
- M1 is the first to offer postpaid to MVNO.
I reckon the VIaas is also the first among Singapore peers, and one of the value proposition of the coming fourth mobile operator.
(vested)
M1 turns to Virtual Instruments as a service for operational efficiency, risk mitigation
SAN JOSE (July 28): Virtual Instruments, the leader in Infrastructure Performance Management (IPM) for diverse computing environments, today announced that M1 Limited ( Financial Dashboard) (M1), a Singapore-based communications provider serving nearly 2 million customers, has implemented Virtual Instruments as a Service (VIaaS). By leveraging this IPM platform, M1 is able to ensure optimal customer experiences by maximizing performance and availability of business critical applications. At the same time, VIaaS helps M1 ensure that its IT infrastructure runs more efficiently and reliably.
Virtual Instruments' IPM platform called VirtualWisdom is growing rapidly across the AsiaPac market, and VIaaS provides all the benefits of the platform, without the initial capital investment. The benefits customers see as a result of implementing Virtual Instruments` service include the ability to monitor and benchmark performance, optimize business-critical application workload delivery, validate the success of migrations, and establish visibility required to proactively manage their infrastructure on a daily basis.
"The VIaaS monitoring solution enabled us to better optimize our IT Infrastructure and improve time-to-resolution when any problems occur. This has helped to reduce risks involved with cutover of key business applications. Using the solution, we are able to maintain our high level of operational efficiencies and improve application performance and availability," said Alan Goh, Chief Information Officer at M1.
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http://www.theedgemarkets.com/sg/article...mitigation
M1 revises its mobile plan...
(vested)
M1 introduces generous new mobile plans for users who don’t need handset subsidies
SINGAPORE (July 29): M1, the smallest mobile operator here and the one most vulnerable if a fourth player enters the market, has introduced a new slew of mobile pricing plans aimed at users who can do without handset subsidies.
The Singapore mobile market is characterised by generous handset subsidies in return for two-year contracts, leading to the dominance of premium brands like Apple and Samsung.
However, there is growing demand for cheaper smartphones like China made ones from Xiaomi and Huawei and Lenovo that are not too shabby in terms of specifications. Quite often users buy these smartphones directly from the brands themselves or from third-party retailers, instead of via the telcos.
Now, users can buy these handsets with M1’s new plan, dubbed mySim, which offers more generous data and talktime compared to plans that come with handset subsidies.
For example, the basic $30 monthly plan for a 12-month term comes with 5GB worth of data and 300 minutes of talktime. If users prefer a one-month plan, the same price gives them 3GB worth of data and the same talktime.
Currently, M1’s own “Lite” post-paid plan, which costs $28 a month, comes with only 100 minutes of talktime and 300MB of data.
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http://www.theedgemarkets.com/sg/article...-subsidies
Viewquest with new set up box offering
4th telco coming up.
Anyonw has a view on how this affects the incumbents ?
(30-08-2015, 05:04 PM)Stephen Wrote: [ -> ]Viewquest with new set up box offering
4th telco coming up.
Anyonw has a view on how this affects the incumbents ?
Viewquest offering isn't new, IIRC. MyRepublic has similar offering. It is definitely not a disruptive, but an interim solution. A set-top box is still needed, and not available over multi-platforms, especially the mobile platforms. I am thinking the SingTel's HOOQ is more threatening.
One key is the ease of use. A simple and scale-able, yet effective authentication should be available by now. The crowd-base MS Office authentication is easy-to-use, yet effective. I am use it across different platforms with ease, including mobile platforms.
(vested in M1)
I think any accumulation will depend on analysis on the new telco and how it could potentially affect the three incumbents' biz. M1 still has some positives going for it so it may not be the weakest after all.