In a market focus report, analyst Sachin Mittal says, “At the current level of capex spend, we think TPG’s network at commercial launch in 2Q19 is unlikely to pose a major threat to the incumbents due to potential network quality issues.”
SINGAPORE (Dec 20): DBS has an “overweight” rating on Singapore’s Telco stocks as TPG’s abysmal capex so far implies room for positive surprise in 2019.
TPG has so far spent A$66.7 million ($65.7 million) in cumulative capex on its Singapore roll-out, about 22-32% of its planned S$200-300 million of capex.
