What will Singtel's new CEO mean for its share price?
Add BT as a preferred source
Joan Ng
DeeperDive is a beta AI feature. Refer to full articles for the facts.
INVESTORS craving a change in management direction at what was once Singapore's largest public-listed company have finally got what they want - sort of - with the appointment of Yuen Kuan Moon as the new chief executive of Singtel.
The argument for change is strong, given that Singtel's earnings are now lower than they were 10 years ago. Its balance sheet is more heavily geared, and its capacity to service its debt load has deteriorated. Meanwhile, many of its digital investments - pay-TV, music streaming and online advertising - have not paid off.
Singtel's dividend for FY2020 was S$0.1225 per share, versus S$0.175 per share for FY2019. Last month, its shares slumped to a 12-year low.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
