Singapore Telecommunications Ltd

Z74: XSES (SGP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SGD 5.40	Gbdpyw	Rhznbvbcb

Singtel’s Q3 In Line, With Some Positive Signs From Australia and Singapore Mobile

Dan Baker

Feb 15, 2022

We increase our fair value estimate for narrow-moat Singtel to SGD 2.74 from SGD 2.70 previously following the release of an in-line third-quarter fiscal 2022 result (quarter ending December 2021) update. This was mainly due to currency and associate share price updates rather than any changes to assumptions for the core businesses in Australia and Singapore.

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