“While mobile consolidation was a hope of competitive rationalisation, Simba’s improving fundamentals, balance sheet scale and wide average revenue per user (ARPU) gap versus incumbents suggest it is favourably placed to continue to take market share,” says Saifee.
Maybank Securities analyst Hussaini Saifee is keeping his “positive” rating on the Singapore telecommunications (telco) sector as competition in the mobile and fixed broadband (FBB) space grows.
Saifee’s Oct 29 report refers to the entrance of Simba, which rolled out its commercial mobile service in Singapore in March 2020. Simba, formerly known as TPG Singapore, is the fourth telco after Singapore Telecommunications (SGX:Z74
) (Singtel), StarHub (SGX:CC3) and M1.
