SingTel share price and that “uh-oh” feeling

Apparently, the fierce winter has lasted longer than expected as SingTel share price hit the skids. On 17 December 2018, SingTel share price plunged to an outrageous 7-year low. The last time that SingTel shares were trading at such price level was in 2011.

In my previous article on this counter, I predicted SingTel share price to nose-dive to $2.60. While this nightmare scenario has not materialized (yet), the current SingTel share price bring little cheers for investors.

It has been an awful year for investors as SingTel share price suffered an explosive 19% correction since the start of the year. The rapid decline caught many analysts and investors by surprise. On the basis of the current run, it seems certain that this counter would enter 2019 in bad shape.

SingTel share price see red!

All hell broke loose for SingTel share price after the announcement of 1H results which saw SingTel recording a massive drop of 60% in net profits. Excluding the divestment of NetLink Trust in 2017, underlying net profit fell 21%, due mainly to lower contributions from Airtel and Telkomsel, and a stronger Singapore dollar against the regional and Australian currencies. With such a report card, investors wasted no time in punishing the stock.

Despite the abysmal stock performance, I am sold on the long-term growth prospect of SingTel. Being a regional giant, the narrative for SingTel is compelling. Thus, the current correction could represent attractive buying opportunities. Note that I am not vested in SingTel at all, so this article is not meant to induce readers to buy SingTel shares. My investment philosophy is to make money at the point of buying, not at the point of selling. In this regard, my entry-level of [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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