Telecoms Sector - OCBC Investment 2015-11-30: Maintain OVERWEIGHT in uncertain times

STARHUB LTD CC3.SI  SINGTEL Singapore Telecommunications Z74.SI  M1 LIMITED B2F.SI 

Telecoms Sector: Maintain OVERWEIGHT in uncertain times 

 Yields largely recovered above 5% 

 Defensive businesses, strong cashflows 

 M1 has the highest expected total return 

Fear of a fourth telco? 

• For nearly a year, the market has been rife with talk of a fourth telco emerging to increase competition here. However, we understand that the IDA is only likely to give its decision in early 2016. 

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