Ong notes that NLT is the sole network provider of residential fibre broadband in Singapore, with over 1.43 million residential connections and a 94% penetration rate) as at end June.
CGS-CIMB Research has initiated an “add” call on Netlink NBN Trust (NLT) with a target price of $1.10, calling it a “defensive yield play amid market volatility.”
Analyst Ong Khang Chuen said this is given its “high barriers to entry, strong earnings visibility and stability” due to the trust’s passive fibre network, which makes up the foundation of Singapore’s Next Generation Nationwide Broadband Network (NBN). The NBN enables ultra-high-speed internet access to be delivered throughout the nation.
