Singtel

DMG & PARTNERS RESEARCH, Dec 7AT SingTel's 2011 Regional Mobile Investor Day (RMID), the senior managements of six subsidiaries and associates - SingTel Singapore, Optus, AIS, Telkomsel, Bharti and Globe - addressed analysts in parallel breakout sessions. The event's overriding themes were on data, specifically:i) the trend towards new converged services on the National Broadband Network (NBN) in Singapore and Optusii) the use of 3G networks to drive data uptake in the under-penetrated markets of Indonesia and India (Telkomsel/Bharti); andiii) emerging data play with new network investments in nascent 3G markets (Thailand/Philippines). Group-wide trials on Long-Term Evolution (LTE) have been successful, with Optus rolling out its LTE network in 2Q12.SingTel showcased its Next Generation Network (NGN) services/applications across multiple platforms and cloud services on the sidelines of the event. We believe that concerns of its competitors taking a chunk of its lucrative enterprise customers under the NGN are overdone as the group appears to have pre-empted competition well via the up-selling of services and more competitive pricing to migrate customers.NEUTRAL