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Singapore Telecom: Beneficiary of large iPhone subscriber base

Underlying profit of S$990m inline with ours, slightly above consensus expectations of S$970m. Singapore business and Optus delivered strong performances in the mobile business.We believe that iPhone customers acquired over the last one and a half year would continue to benefit SingTelMaintain BUY and TP for sustained mobile momentum, growth at Telkomsel, stronger regional currencies ...

 

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