(21-11-2013, 09:12 PM)CityFarmer Wrote: [ -> ]IDA approved it, but not clearly stated the conditions. I am more concern on the time line of NetLink divestment...
IDA APPROVES SALE OF SHARES IN OPENNET PTE. LTD
...
Today, the IDA announced that it has approved the Consolidation Application and
thereby given its consent to the OpenNet Sale subject to conditions. The applicants have
up to 14 days to accept the conditions.
Ref: http://infopub.sgx.com/FileOpen/567-sgx....eID=265343
Further update from other source...
Nod for sale of OpenNet
21 Nov 2013 19:07
THE Infocomm Development Authority of Singapore has approved the proposed sale of OpenNet to SingTel-owned NetLink Trust, with additional conditions.
These conditions, which include a monitoring board to ensure compliance and the need for regulatory approval of various major decisions, will be imposed to address the competition concerns raised by Internet service providers in September.
The sale will take place in two phases, with the first phase to start no later than by year-end, during which OpenNet's assets and business will be transferred to NetLink Trust. This is to take no more than 12 months. SingTel will also give up its key subcontractor role for OpenNet.
Phase two will see the consolidated entity rolling out the infrastructure and carrying out the activities that were previously done by OpenNet.
The extension requested by SingTel for the divestment of its stake in NetLink Trust from Apr 2014 to April 2018 was also deemed "not unreasonable" by the regulator yesterday.
Source: Business Times Breaking News
SGX to launch online initiative tomorrow to locate 89,000 investors owning $68m of unclaimed dividends, SingTel shares.
(26-11-2013, 03:41 PM)Dividend Warrior Wrote: [ -> ]SGX to launch online initiative tomorrow to locate 89,000 investors owning $68m of unclaimed dividends, SingTel shares.
That is one of the consequences of scrip base, rather base than paper-less CDP account.
I have friends who hold share scrip, without updated his particulars. He missed all the dividends before the day he realized his mistake. I reckon the dividend was either went unclaimed or went to previous registered owner.
(26-11-2013, 04:35 PM)CityFarmer Wrote: [ -> ] (26-11-2013, 03:41 PM)Dividend Warrior Wrote: [ -> ]SGX to launch online initiative tomorrow to locate 89,000 investors owning $68m of unclaimed dividends, SingTel shares.
That is one of the consequences of scrip base, rather base than paper-less CDP account.
I have friends who hold share scrip, without updated his particulars. He missed all the dividends before the day he realized his mistake. I reckon the dividend was either went unclaimed or went to previous registered owner.
Unclaimed dividends are returned to the relevant listed companies after six years.
Very encouraging enhancements...
SingTel to boost mobile data speeds in crowded locations
SINGAPORE — SingTel mobile customers can look forward to faster and more consistent data speeds in crowded locations as a range of network capacity enhancements are implemented, said the telco today (Dec 10).
Mr Tay Yeow Lian, SingTel’s Vice President of Mobile Core Engineering, said in a statement: “We believe our customers will feel a real difference when the new enhancements are in place. They will enjoy up to 20 per cent faster internet access in crowded places that are prone to network congestion. The chances of encountering a dropped call at these packed locations will also be reduced by as much as 40 per cent.”
Some of these enhancements include the Self Organising Networks (SON), a mobile network management solution that detects area of congestion and re-assigns data handling capacity from neighbouring under-utilised cells to ensure optimal network performance at all time and to minimise the impact of equipment failure.
Another enhancement by SingTel is the small cells technology to provide high-speed mobile coverage in locations where it is impossible to install conventional base stations and radio network equipment.
...
http://www.todayonline.com/singapore/sin...-locations
Sounds like an ad. No mention of when and where, just that it'll be 'fast'. Maybe the target roll out date is 4Q 2150
MDA fines SingNet S$220,000 for Mio TV disruption
SINGAPORE — The Media Development Authority of Singapore (MDA) has fined SingNet S$220,000 for an island-wide Mio TV service disruption on 15 May 2013.
MDA said that SingNet had not exercised due care and diligence when carrying out routine maintenance activities during the incident, and had thus failed its licence conditions on quality of service.
Investigations revealed that an erroneous command sent during a botched maintenance operation caused set-top boxes of affected subscribers to fail to boot up properly.
The incident affected about 26,000 Mio TV subscribers across Singapore, and lasted about nine hours from 1 am to 10 am on 15 May.
...
http://www.todayonline.com/singapore/mda...disruption
INCREASE IN ISSUED AND PAID-UP SHARE CAPITAL OF
OPENNET PTE. LTD. AND
ISSUED UNITS OF NETLINK TRUST
Singapore Telecommunications Limited (“SingTel”) wishes to announce that its
associated entity, OpenNet Pte. Ltd. (“OpenNet”), has increased its share capital from
S$99,150,000 to S$127,150,000 via the allotment and issue of 28,000,000 ordinary
shares at S$1 per share to CityNet Infrastructure Management Pte. Ltd., in its capacity
as trustee-manager of NetLink Trust. SingTel is the sole unitholder of NetLink Trust
which, in turn, is the sole beneficial shareholder of OpenNet.
SingTel also wishes to announce that NetLink Trust has increased its issued units from
567,380,002 to 578,780,002 via the allotment and issue of 11,400,000 units at S$1 per
unit to SingTel.
Ref:
http://infopub.sgx.com/FileOpen/572-sgx....eID=267550
Interesting... Singtel injecting more equity into OpenNet, partly funded $16.6m by Netlink ($28m-$11.4m)... Isn't OpenNet supposed to be highly profitable or that's accounting PnL? Did they disclose OpenNet standalone financials?
My guess is when they do REIT this entity, the financials would be consolidated.