|Bid||3.2900 x 0|
|Ask||3.3000 x 0|
|Day's Range||3.2700 - 3.3000|
|52 Week Range||2.9200 - 3.5600|
|Beta (5Y Monthly)||0.61|
|PE Ratio (TTM)||36.67|
|Earnings Date||Feb 12, 2020 - Feb 17, 2020|
|Forward Dividend & Yield||0.17 (5.30%)|
|Ex-Dividend Date||Dec 18, 2019|
|1y Target Est||3.70|
* China's Q4 GDP comes in line with expectations * Singapore's Dec exports post surprise rebound By Anushka Trivedi Jan 17 (Reuters) - Indonesian shares skid on Friday as weak auto sales data weighed on consumer stocks, while most other Southeast Asian markets climbed as a slew of solid data from China lifted investor sentiment. Auto sales in Indonesia declined 1.4% last month, with all major brands reporting weaker numbers than a year earlier. An index of Jakarta's forty-five most liquid stocks was 0.1% lower.
(Bloomberg) -- The large number of Singaporeans still without good access to financial services will be key to creating a successful digital bank in the country, according to executives from Grab Holdings Inc. and Singapore Telecommunications Ltd.“We do feel very strongly that we can make a bit of a difference in Singapore. There are real needs that need to be met,” said Arthur Lang, chief executive officer of Singtel’s International Group.On Monday, Grab and Singtel said they are teaming up to apply for a full digital banking license before the year-end deadline, jumping aboard a Singapore government initiative to attract technology firms into its financial sector to stimulate innovation and competition. The move brings together one of Southeast Asia’s largest operators of online businesses from food delivery to car-hailing with Singapore’s largest telecommunications firm.Grab, Singtel Team Up on Singapore Digital Bank License BidWhile Singapore has strong, well-established banks, and is better served than other Southeast Asian countries, there’s still a significant minority of small- and mid-sized companies and individuals seeking cheaper and improved services, executives from the two companies said in a joint interview.They pointed to a recent study which showed 38% of Singaporeans are under-banked while another 2% have no access to financial services.There’s also a “huge” funding gap for small- and medium-enterprises in Singapore, according to Reuben Lai, senior managing director of Grab Financial Group, the subsidiary which would take a majority 60% stake if the venture is granted a license. Singtel would hold the remaining 40%.The service provided by existing banks to smaller firms tends to involve layers of hidden fees and poor support for managing and growing the business, according to a joint presentation by Grab and Singtel on their license bid.Still, Grab and Singtel will be up against local and international financial institutions such as DBS Group Holdings Ltd. and Citigroup Inc. that dominate the lending landscape. “We are fully aware that banks are very well run,” said Lang.The two companies declined to provide profit forecasts, but expressed confidence that the venture would be successful financially. The Monetary Authority of Singapore “wants to see a business that’s sustainable. That’s core for our mission,” said Lai.“At the end of the day when we go back to our shareholders to make the case it has to be driven by numbers and returns,” said Singtel’s Lang.Another headwind for the ventures is the relatively large amount of capital required by the MAS compared with some other jurisdictions welcoming tech firms into their banking sectors. Singapore’s full banking licenses require capital of S$1.5 billion ($1.1 billion), while Hong Kong has set HK$300 million ($38.5 million) as the minimum capital for its new breed of digital banks.Read why Singapore’s digital bank wannabes must prove they can profitSeveral other groups have expressed interest in applying for one of the five new licenses, including billionaire Alibaba founder Jack Ma’s Ant Financial, gaming gear-maker Razer Inc. and Oversea-Chinese Banking Corp. The MAS has said it will award two full bank licenses and three wholesale licenses limited to serving corporate clients only.Singapore’s capital “rules are quite stringent to make sure that this is done properly,” noted Lang. Grab will fund its share of the capital requirement from its balance sheet, added Lai.Grab and Singtel have another advantage in their large existing customer base, the executives said. Singtel has about 4 million Singapore subscribers for its telecom services; Grab’s app has been downloaded onto more than 166 million mobile devices in Southeast Asia.“While we come from a very different background, one common goal is really to use technology to enrich the experience of the consumer,” said Lai.To contact the reporters on this story: Ishika Mookerjee in Singapore at email@example.com;Kyunghee Park in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Marcus Wright at email@example.com, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Singapore Telecommunications Ltd (Singtel) is teaming up with Southeast Asian ride hailing firm Grab to bid for an online banking licence in Singapore, the first such partnership that could spur a shake-up of the city state's financial sector. The companies said in a joint statement that they will form a partnership, with Grab owning 60% and Singtel holding the remainder to apply for a digital banking licence to serve retail and small and medium enterprises.
Grab and Singtel, one of the largest telecoms in Singapore, announced today that they are applying for a digital full bank license together. If approved, the license will allow them to offer simple credit and investment products, before progressing to a full-functioning bank if they meet the Monetary Authority of Singapore’s (MAS) criteria. Grab will hold a 60% stake in the consortium, with Singtel holding the other 40%.
In a bid to set up a digital bank in Singapore, Grab, and Singtel are forming a consortium, in which the two companies will hold 60% and 40% stake, respectively, said the spokespersons of Grab and Singtel in a joint statement on Monday. Singtel, the largest telecom operator in Singapore, and Grab, one of Singapore’s acclaimed ridesharing companies have a track record expanding outside their core businesses.
(Bloomberg) -- Grab Holdings Inc. is partnering with Singapore Telecommunications Ltd. to apply for a full digital banking license, jumping aboard a Singapore government initiative to attract technology firms into its financial sector.A Grab entity will own a 60% stake in the consortium that will apply for the bank license in Singapore, while the telco known as Singtel will hold the rest, according to a joint statement. The consortium plans to set up a digital bank targeting so-called digital-first consumers, as well as small and medium enterprises that lack access to credit.The move teams one of Southeast Asia’s largest operators of online businesses from finance and car-hailing with Singapore’s largest telecommunications firm. The Monetary Authority of Singapore unveiled plans this year to grant as many as five virtual bank licenses to boost competition and innovation. Of these, two will be full bank licenses and three wholesale licenses limited to serving corporate clients only -- the first category requires capital of S$1.5 billion ($1.1 billion), the second S$100 million.Southeast Asia’s digital lending market is expected to more than quadruple to $110 billion by 2025, according to a report by Bain & Co., Google and Temasek Holdings Pte. Bids for the new virtual licenses are due by the end of the year. Several other groups have expressed interest in joining Singtel and Grab in applying, including billionaire Alibaba founder Jack Ma’s Ant Financial, gaming gear-maker Razer Inc. and Oversea-Chinese Banking Corp. Singtel’s shares climbed as much as 0.9% Monday in light trade.Singapore Digital Bank Wannabes Must Prove They Can Profit Efforts to open up the Singapore banking industry to technology companies come on the heels of a similar move in Hong Kong, where Ant and Chinese competitors including Tencent Holdings Ltd. obtained licenses earlier this year.For Grab, a digital banking business complements its growing suite of services built atop a ride-hailing platform that’s expanding regionally. Its advantage over other non-bank companies is an existing share of online payments built up under the GrabPay brand from ride-sharing users and local merchants.Grab doesn’t disclose the number of users -- which include many for food delivery -- but said its app has been downloaded onto more than 166 million mobile devices in Southeast Asia.The company, which started out as a taxi booking app in Kuala Lumpur in 2012, has sought to forge closer ties to Singapore. It’s moved its base to the city and taken other steps to polish its local credentials. In March, it announced a new headquarters building in the city, and Chief Executive Officer Anthony Tan revealed plans to double local staff to 3,000.Grab has expanded into financial services across Southeast Asia in partnership with 60 financial institutions including United Overseas Bank Ltd. in Singapore and Malayan Banking Bhd. in Malaysia. It set up the Grab Financial Group in 2018, which, among other things, provides digital payments services and personal loans. It also launched a numberless card with Mastercard and plans to start wealth management services next year.Singtel has delved deeper into financial services as growth in its core telecoms business plateaus in an uncertain economy. The company swung to a net loss of S$668 million in the quarter ended September, due to an exceptional item related to Bharti Airtel Ltd.The carrier’s been offering its own mobile payments service in cooperation with regional associates, including in Thailand. Users can pay via its Dash app when traveling wherever Dash’s partners are located. The app can also be accessed through Apple Pay. Digital banking is a natural extension of the company’s existing mobile financial services, said Arthur Lang, CEO of Singtel’s International Group.“We want to fundamentally change the way consumers and enterprises bank,” he said.Read more: SingTel Earnings Expected to Recover Next Year, Led by India(Updates with Singtel’s shares from the fourth paragraph)\--With assistance from Kyunghee Park, Ishika Mookerjee and Joyce Koh.To contact the reporters on this story: Chanyaporn Chanjaroen in Singapore at firstname.lastname@example.org;Yoolim Lee in Singapore at email@example.com;Saket Sundria in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Marcus Wright, Derek WallbankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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* U.S. slaps tariffs on Brazil, Argentina * Also proposes duties on French imports * Weak U.S. manufacturing data adds to gloom * Singapore falls for sixth time in seven sessions By Soumyajit Saha Dec 3 (Reuters) - Most Southeast Asian stock markets ended lower on Tuesday as U.S. tariffs on Brazil and Argentina threatened to aggravate global trade tensions, while weak U.S. factory data added to the dour sentiment. The Trump administration on Monday announced tariffs on U.S. steel and aluminium imports from the Latam countries and vowed duties of up to 100% on French goods.
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* Singtel posts first ever qtrly loss, shares drop * Malaysia Q3 GDP in line with expectations * Philippines on track to snap five weekly gains By Anushka Trivedi Nov 15 (Reuters) - Southeast Asian stock markets were tepid on Friday, as a raft of lacklustre data from leading economies left investors skittish, while renewed hopes of a Sino-U.S. trade deal limited sharp declines, with Indonesia seeing its best day in near two weeks. The weakness in China's economy reflected an impact from the prolonged tariff dispute to global economic growth. Data released on Thursday showed that factory output growth in China, Southeast Asia's biggest trading partner, had slowed significantly more than expected in October.
Bharti Airtel said it made a provision of 284.50 billion ($3.99 billion) rupees after India's Supreme Court last month upheld a demand by the telecoms department that wireless carriers pay 920 billion rupees in overdue levies and interest. Singtel, Southeast Asia's largest telecoms firm, reported a 3% rise in underlying net profit to S$737 million for the quarter. Singtel is the biggest shareholder in Bharti Airtel, with an effective stake of about 35%.
* Singapore non-oil domestic exports shrink for 7th month * Philippines retreats from near four-week high * Indonesia set to post fifth straight session of gains By Sameer Manekar Oct 17 (Reuters) - Most Southeast Asian stock markets were tepid on Thursday as hopes of a Sino-U.S. trade deal waned amid a lack of concrete details, while the Indonesian index extended gains ahead of President Joko Widodo's cabinet formation due this weekend. U.S. Treasury Secretary Steven Mnuchin said that U.S. and Chinese negotiators were working on finalising a Phase 1 trade deal for the Chinese and U.S. presidents to sign next month, but said that there were no plans for another high-level meeting on the trade deal outlined last week. The Indonesian index was poised to close firmer for a fifth session, lifted by the consumer sector, with food processor Indofood Sukses Makmur and Unilever Indonesia Tbk PT rising 1% and 0.9%, respectively.
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