Fitch Ratings

For the FY2023 to FY2024, the team at Fitch has estimated Singtel’s net debt/EBITDA to be at 1.8x to 1.9x.

The upgrades were made on Feb 15 (New York time).

Stable outlook ahead for Singtel.

As at 12.36pm, shares in DBS are trading 2 cents higher or 0.08% up at $24.44.

The notes will be offered in Singapore.

Quoteworthy: "I do not wish my current situation to be a distraction to their respective boards," -- Liew Mun Leong.

The recovery in economic activity following the “severe recession” in March and April was quicker than anticipated.

While some digital banks in the APAC region have turned profitable such as Tencent-backed WeBank in China and the eponymous KakaoBank in Korea, most digital-only lenders’ risk frameworks and business models have not been tested through the economic cycle.

Canada’s loss may be Singapore’s gain.

While the 5G wins may introduce revenue for the telcos in FY2021, investors may need to brace for lower-than-expected dividends due to increased capital expenditures (capex) in order to roll out the licences and maintain the networks.