Singtel is on track for low double-digit ebit growth in FY2025 ending March. Its return on invested capital (ROIC) is projected to rise to 10% in FY2025, up from 9.3% in FY2024, driven by cost excellence and new growth engines such as data centres, NCS, and digital assets.
RHB Bank Singapore remains “neutral” on the telecommunications sector as the SIM-only market is set to stay competitive in an ex-growth market.
Singapore Telecommunications (Singtel) stands out as the Singapore research team’s preferred pick, with RHB maintaining its “buy” call with a target price of $3.60.
