Singtel share price seeing daylight?

LIFETIME MEMBERSHIP For Singtel share price, it should be light at end of tunnel instead of light from an on-coming train. Of course, long-term investors could be forgiven for thinking otherwise. After all, Singtel share price has endured so many false dawns in recent years that investors must be wondering when will Singtel share price ever become great again.

For sure, Singtel share price has lost that aura of invincibility. Perhaps the billion dollars penalty imposed by Indian Supreme Court for its subsidiary, Airtel, had knocked the wind out of Singtel share price. Or maybe the cut in dividends had demolished investors’ confidence in Singtel share price. Whatever the case it may be, the counter is a shadow of its former self.

Singtel share is extremely popular among Singapore investors as many retirees depend on the dividends for passive income. So you can imagine the shockwaves for Singtel share price when the telco announced an interim dividend of just 5.1 cents in November 2020. That dividend was the lowest in a decade and sent Singtel share price to the rock bottom. To be exact, all hell broke loose when Singtel share price crashed to record low of $2.00 on 2 November 2020. That was really the darkest chapter for Singtel share price.

Subsequently, the digital bank license win restored some level of confidences among investors. My entry price for Singtel share price was $2.60. Since the onset of the pandemic, Singtel share price had never crossed this level. Now that our population has reached a high level of vaccination and an endemic is in sight for Singapore, I do think that the worst is over for Singtel share price. Furthermore, with a new CEO and a strategic reset in the businesses, the growth narrative has changed for Singtel. In this regard, I am of the view that Singtel share price has bottomed and is beginning to look appealing.

Earlier this year, I was planning to buy Singtel shares. However, the exceptional losses of $1.21 billion reported on 14 May threw a spanner in the works. In that saga, Singtel share price had plunged from $2.60 on 19 April to a low of $2.23 on 28 July. Although the losses were non-cash impairments attributed to Amobee, Global Cyber Security Business and Optus, my concern is whether there would be any more of such “unforeseen circumstances” in 2021. In the first quarter business update, my concern has been put to rest.

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Note that this is an opinion article and not meant to be a financial advice. Please do your due diligence or engage financial advisors before investing in the stock market. Furthermore, I am not vested and have never invested in Singtel before. Whether Singtel share price will surge or collapse has no impact on me. Thus, this article is not meant to induce readers to make any form of investment decisions.

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To be fair to the management, the current state of Singtel share price should [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]

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