One of the reason for recent share performance?
DJ India Registers Case Against SingTel, Bharti, Tata Communications
NEW DELHI--India's federal investigation agency has registered an initial criminal case against SingTel (SGAPY), Bharti Airtel Ltd. (532454.BY) and Tata Communications Ltd. (TCL), alleging that they deprived the government of at least 480 million rupees ($8.89 million) in revenue by violating the country's telecom rules.
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(26-02-2013, 10:09 AM)CityFarmer Wrote: [ -> ]One of the reason for recent share performance?
DJ India Registers Case Against SingTel, Bharti, Tata Communications
NEW DELHI--India's federal investigation agency has registered an initial criminal case against SingTel (SGAPY), Bharti Airtel Ltd. (532454.BY) and Tata Communications Ltd. (TCL), alleging that they deprived the government of at least 480 million rupees ($8.89 million) in revenue by violating the country's telecom rules.
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Singtel responded to the news
Singapore, 26 February 2013 – According to media reports, the Central Bureau of Investigation (CBI) in India has registered a case against SingTel, together with two other Indian telcos, for allegedly providing international long distance services to Indian customers without a license. No official charges have been brought against SingTel. SingTel denies and will actively defend itself against the allegation. As a long term strategic investor, SingTel respects and conducts its business according to applicable laws in the countries it operates in. SingTel is renowned for its high corporate governance and transparency standards. It has been assisting the relevant Indian authorities in preliminary enquiries and will continue to render its full co-operation
http://info.sgx.com/webcoranncatth.nsf/V...E003B1F74/$file/MS-20130226-clarification.pdf?openelement
It is a wise move. Israel is a reservoir of idea. I recalled tech seminars from Israel which showed lot of innovations. Most of time were state-of-art and some were ahead of its time then.
SingTel opens joint centre to tap talent in Israel
SINGAPORE — To tap the “wealth of talent” in Israel, SingTel has opened a joint international development centre in the country with New York-listed software and services provider Amdocs.
The telco hoped the centre, which will be located in the Amdocs campus in Ra’anana, will become a conveyor belt of new technologies, services and products to be sold to the countries where SingTel has a footprint.
http://www.todayonline.com/business/sing...ent-israel
SingTel named to ‘World’s Most Ethical Companies’ list
SINGAPORE — SingTel has been named as one of the world’s most ethical companies for the third year running by the United States-based think-tank Ethisphere Institute.
SingTel is the only Singaporean company and only one of three telcos in the world to make the list of 145 companies.
http://www.todayonline.com/singapore/sin...anies-list
Looks like SingTel is investing in its future. Good news.
Being an ethical company is definitely a plus for shareholders.
SingTel is actively reviewing its oversea investments...
SingTel conducts strategic review of Optus Satellite business
SINGAPORE — SingTel has hired Credit Suisse and Morgan Stanley to conduct a strategic review of its Optus Satellite business in Australia and New Zealand.
In a statement, the Singapore telco said the review is said to be aimed at optimising value for shareholders.
The strategic review, according to bankers and analysts, could mean an outright sale or an initial public offering of a unit that sells TV, telephony and broadband services to more than 2 million subscribers, and had revenue of A$319 million (S$413 million) for the financial year that ended March 31, 2012.
http://www.todayonline.com/business/sing...e-business
(18-03-2013, 01:09 PM)CityFarmer Wrote: [ -> ]SINGAPORE — SingTel has hired Credit Suisse and Morgan Stanley to conduct a strategic review of its Optus Satellite business in Australia and New Zealand.
Why must hire
two companies to conduct review? Are they supposed to work independently and produce two reports , or work together to produce one report?
(18-03-2013, 11:00 PM)touzi Wrote: [ -> ] (18-03-2013, 01:09 PM)CityFarmer Wrote: [ -> ]SINGAPORE — SingTel has hired Credit Suisse and Morgan Stanley to conduct a strategic review of its Optus Satellite business in Australia and New Zealand.
Why must hire two companies to conduct review? Are they supposed to work independently and produce two reports , or work together to produce one report?
Probably a review task of a company worth A$2 billion ($2.5 billion) is too large to be undertaken by one company.
The stock price is supported definitely not from profit growth, but from divestment gains of assets.
More will come IMO
(vested)
SingTel stands to reap forex gain in any Optus Satellite sale
Singapore Telecommunications stands to benefit from a 45% rise in the Australian dollar against its home currency in any sale of the Optus Satellite division it bought in 2001.
Australian dollar revenue at the unit has increased 44% since the unit was bought, while sales have more than doubled in Singapore dollars. The unit of Southeast Asia’s largest phone company may now be worth as much as A$2 billion ($2.6 billion), Nomura Holdings Inc. estimates.
http://www.theedgesingapore.com/the-dail...-sale.html
SingTel seems has more than its fair share of trouble oversea, compare with other Blue-Chip's oversea venture
SingTel backs Indian partner in telecom case
SINGAPORE — SingTel has thrown its weight behind its Indian partner Bharti Airtel, saying it has full faith in the Indian company’s corporate governance standards led by its Chairman Sunil Mittal.
SingTel’s statement came after Mr Mittal was summoned by an Indian court to face criminal charges in a case related to alleged irregularities in the allocation of telecom bandwidth in 2002.
http://www.todayonline.com/business/sing...lecom-case