BMI View: Lack of Growth Potential and Increase in Competition, A Dangerous Mixture

These are challenging times for Singapore's dominant telecoms operator SingTel. Searching for a new CEO following the resignation of Lee Hsien Yang in July, it must do so in the knowledge that competition is growing. And it will continue to do so with the introduction of mobile number portability (MNP) in 2007. Furthermore, there is little room for growth in a crowded domestic market. Fixed line telephony is in decline and so SingTel focuses on the consumer broadband market, but even here household penetration is over 50%. SingTel has always been able to comfort itself in the knowledge that regionally,

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