Equity Analysis /

ASEAN : Telco - Overall - Let’s talk about it!

    Sherman LAM
    Choong Chen Foong
    25 March 2022
    Published by

    We met 35 fund management firms in Mar 2022 to share our latest views on ASEAN telcos and our top picks, XL, DTAC and Singtel. Reiterate Neutral. ID: Interest was the highest but investors were only cautiously optimistic on competition. Further tariff optimisation may act as a re-rating catalyst. TH: Low interest despite market consolidating to just 2 players. May improve once near-term competition stabilises and True-DTAC synergies are clearer.