Retail News CRM

Tag: NetLink

  • NetLink NBN Trust beats IPO earnings forecast

    NetLink NBN Trust beats IPO earnings forecast

    Singapore’s NetLink NBN Trust, the network company for Singapore’s next-generation national broadband network (NG-NBN), has beat its post-tax profit targets for the financial period between June 19 and March 31 by 10.8%.

    The operator reported a net profit for the period of S$50 million ($37.4 million). This compares to a projection of S$45.1 million included in the prospectus for its S$2.3 billion IPO, which was completed in July last year.

    NetLink NBN Trust attributed the higher than expected profit to lower operation and maintenance costs, staff costs and other operating expenses

    NetLink NBN Trust reported revenue of S$228.6 million, 1.8% lower than forecast, due mainly to lower installation-related revenue. But this was partly offset by higher than expected recurring residential and non-residential connection revenue.

    For the fourth quarter, the operator reported a 6.4% lower than expected profit after tax of S$15.3 million and 4.4% lower than forecast revenue of S$80.7 million.

    “Our better-than-forecast earnings reflects the resilience of our business model,” NetLink NBN Trust CEO Tong Yew Heng said.

    “The growth in the number of connections for residential, non-residential and segment fiber for the relevant financial period was higher than the forecast.”

    As the network company for the NG-NBN, NetLink NBN Trust designs, owns, builds and operates the passive fiber network infrastructure for the network. As of the end of March, the network spanned around 76,000km of fiber cables, 16,200km of ducts and 62,000 manholes.

    Lees ook:

  • Singtel launches $1.89b IPO for NetLink Trust

    Singtel launches $1.89b IPO for NetLink Trust

    Singtel has launched an up to S$2.63 billion ($1.89 billion) IPO for its fiber broadband subsidiary NetLink NBN Trust.

    NetLink NBN Trust is the holding company for NetLink Trust, the company operating the passive infrastructure for the next generation nationwide broadband network (NG-NBN).

    NetLink NBN Trust has filed a preliminary prospectus with the Monetary Authority of Singapore ahead of the planned IPO and listing of the company on the Singapore stock exchange.

    In its role as the NetCo for the NG-NBN, NetLink Trust designs, builds, owns and operates the ducts, manholes, fiber cables and central offices and other passive infrastructure for the network. Its assets include around 76,000km of fiber cable.

    The company sells wholesale dark fiber services to licensees including Singtel itself, StartHub, M1 and MyRepublic. It recorded revenue of S$299 million and net profit of NZ$79.4 million in the most recent financial year ending in March.

    The IPO is expected to give NetLink Trust an initial market capitalization of between S$3.09 billion and S$3.59 billion.

    It will also fulfill Singtel’s regulator-mandated requirement of divesting at least 75% of the trust before next April, as part of the structural separation requirements for the state-led NG-NBN project.

    The IPO is on track to become Singapore’s largest public float since the S$7.6 billion listing of Hutchinson Port Holdings Trust in 2011.

    Lees ook:

    Lees ook:

    Lees ook:

  • Singtel gets conditional nod for NetLink Trust IPO

    Singtel gets conditional nod for NetLink Trust IPO

    Singtel has secured conditional approval to list its wholly-owned subsidiary NetLink Trust on the SGX as part of its obligations to the government under the state-owned Next Generation National Broadband Network (NG-NBN) project.

    NetLink trust builds and operates the passive infrastructure for the NG-NBN. As a condition of Singtel winning the NG-NBN tender, Singtel agreed not to have effective control in NetLink Trust. In February, the company announced it has committed to regulator IMDA to divest its ownership to less than 25% by April next year.

    The structural separation arrangements formed part of the IMDA’s open access requirements for the NG-NBN project.

    Singtel said Singapore Exchange Securities Trading Limited (SGX-ST) has issued a conditional eligibility-to-list letter for NetLink Trust.

    The listing will be contingent on market conditions, obtaining the required regulatory and other approvals as well as other prerequisites, Singtel said.

    Once up and running, market watchers expect the IPO to raise at least S$2 billion, making it one of the largest offerings in Singapore in years. Singtel has appointed DBS Bank, Morgan Stanley and UBS to advise on the IPO, which could be complete as early as July, according to recent reports.

    Lees ook: