Updated: Sunday, 14 December 2025 (SGT). Markets are closed today; latest price data reflects the last trading session on Friday, 12 December 2025.
Singapore Telecommunications Limited (Singtel) closed the week at S$4.66 on the SGX, rebounding into Friday after a news-heavy stretch that mixed Singapore regulatory scrutiny with fresh broker optimism and continued focus on Singtel’s data centre strategy and regional associates. [1]
This update breaks down what moved Singtel’s share price in the past few days, what analysts are forecasting now, and what investors are likely to watch in the week ahead.
Singtel share price this week: a late rebound after a choppy run
Singtel ended Friday (12 Dec) at S$4.66, up +2.19% on the day. Over the core trading week (Mon 8 Dec to Fri 12 Dec), the stock rose from S$4.56 to S$4.66—a gain of about +2.2%—after dipping mid-week and then recovering. [2]
Zooming out, Singtel’s 52-week trading range has been roughly S$3.04 to S$4.92, underlining how close the stock has recently been to multi-month highs even after a pullback from peaks around S$4.90 that brokers have referenced. [3]
What moved Singtel stock in the last few days
1) IMDA imposes S$1 million fine over a 2024 voice disruption
The most concrete, Singapore-specific headline this week was regulatory: the Infocomm and Media Development Authority (IMDA) imposed a S$1 million fine on Singtel relating to an 8 Oct 2024 fixed voice disruption that affected ~500,000 residential and corporate users for more than four hours. IMDA said access to customer service lines at some government agencies, healthcare organisations, banks and companies—and emergency call services—was also affected. [4]
IMDA’s investigation found the incident was within Singtel’s control to prevent and was not due to a cyberattack, describing the potential public safety consequences as serious. The report outlined a technical chain involving virtualised firewalls sharing hardware resources and failing under high-intensity traffic, ultimately disrupting call handling. [5]
Market angle: Regulatory penalties tend to matter less for the absolute dollar amount and more for what they signal about operational resilience expectations—particularly for a critical infrastructure operator.
2) Citi resumes coverage: “Buy” with a new S$5.08 target (plus bull and bear cases)
On 8 Dec, Citi Research resumed coverage on Singtel with a “buy” rating and a higher target price of S$5.08. Citi framed Singtel as a blend of cash-flow generation (Singapore and Australia) plus growth exposure through emerging-market associates (including India, Indonesia, Thailand and the Philippines). [6]
Citi also pointed to:
- potential asset/strategic reviews that could crystallise value,
- a strong cash-flow profile alongside Singtel’s S$9 billion asset divestment programme, and
- capital management support via a share buyback programme and dividends. [7]
Citi published scenario targets too: a bull case of S$5.34 and a bear case of S$3.93, with sensitivities including Bharti Airtel assumptions and currency moves. [8]
3) DBS lifts target to S$5.71: data centres and ARPU expectations in focus
On 12 Dec, DBS Group Research maintained a “buy” call and raised its Singtel target price from S$5.04 to S$5.71, pointing to catalysts such as a potential rise in data centre EBITDA and the prospect of mobile ARPU stabilisation over time. [9]
DBS also highlighted that Singapore data centre capacity is set to double to 120MW with an AI-ready Jurong facility expected to open in early 2026, and that Singtel’s regional footprint is benefiting from earlier consolidation in several markets. [10]
4) Buybacks remain part of the support narrative
Singtel’s capital management has been a recurring theme in 2025. In late November, The Business Times reported Singtel led buybacks over a five-session window, purchasing 10,870,400 shares at an average price of S$4.75, bringing repurchases under the mandate to roughly 16,816,000 shares (excluding treasury shares). [11]
Singtel has also published daily share buy-back announcements via its investor relations/SGX channels in early December. [12]
For longer-term context, Singtel previously announced a S$2 billion multi-year share buyback plan and lifted its asset recycling goal—moves that continue to influence how brokers frame downside support and valuation. [13]
5) GXS Bank (Grab-Singtel) cuts about 10% of workforce
While not a core earnings driver in the same way as mobile, broadband, Optus, associates or data centres, Singtel-related fintech also made news: GXS, the digital bank backed by Grab and Singtel, said it would cut 82 roles (~10%) as it transitions from “building a bank” to running operations, following a strategic review across units in Singapore, Malaysia and India. [14]
The bigger strategic debate: data centres, Nxera and the STT GDC deal talks
Singtel’s digital infrastructure ambitions remain central to the “next leg” narrative for the stock—especially alongside its regional associate portfolio.
In early November, Reuters reported that KKR and Singtel were in advanced talks to acquire full ownership of ST Telemedia Global Data Centres (STT GDC) in a deal valued at over S$5 billion (US$3.9 billion), citing sources. Singtel previously confirmed it was in discussions as part of a consortium, while noting there was no certainty a definitive agreement would result. [15]
Separately, Singtel has positioned its Nxera unit around AI-ready capacity buildouts (including Singapore projects) and has previously highlighted a S$643 million green loan to support data centre development (DC Tuas). [16]
Why it matters for Singtel stock: data centres tend to re-rate valuations when investors believe (1) earnings growth is structural, and (2) the assets can be financed and scaled without eroding returns. That’s exactly why broker notes increasingly talk in “sum-of-the-parts” terms—core telecom cash flows plus associates plus infrastructure upside. [17]
Analyst forecasts (updated): where targets cluster now
Across major data aggregators and broker summaries, Singtel’s consensus target prices continue to point to mid-single to low-double digit upside from the latest close—though dispersion is wide depending on assumptions for associates, currencies, and the infrastructure story.
Here are the most-cited reference points currently in circulation:
- MarketScreener consensus: average target around S$5.14–S$5.15, with a “BUY” mean consensus and ~17 analysts tracked (values depend on refresh time). [18]
- SGinvestors compilation (as of 14 Dec): targets range roughly S$4.86 to S$5.75, with a median around S$5.14 and an average around S$5.22. [19]
- Citi (8 Dec):S$5.08 base target (bull S$5.34, bear S$3.93). [20]
- DBS (12 Dec):S$5.71 target, maintaining “buy”. [21]
- TipRanks aggregation: average target around S$5.14 with a published range (varies by contributing analysts). [22]
At Friday’s close of S$4.66, these imply approximate upside of:
- ~9% to Citi’s S$5.08,
- ~10–11% to the S$5.14–S$5.15 cluster, and
- ~23% to DBS’s S$5.71. [23]
Dividends and the calendar: what just happened, what’s next
Singtel’s FY26 interim dividend of 8.2 cents per share was paid on 9 December 2025, with the related record/ex-date events occurring in November. [24]
Looking forward, Singtel’s next major scheduled corporate catalyst is its next results cycle: Investing.com and MarketScreener listings indicate the next earnings release window around 17–18 February 2026 (depending on the listing/market convention used by the provider). [25]
Key risks investors are watching (especially into year-end)
Regulatory and service reliability scrutiny (Singapore + Australia)
This week’s IMDA fine in Singapore keeps service resilience in the spotlight locally. [26]
In Australia, Singtel-owned Optus remains under heightened scrutiny after prior emergency-calling issues; Reuters has reported on an Optus outage linked to vandalism cutting a fibre cable, and Australia’s parliament is running a dedicated inquiry into Triple Zero outages. [27]
Optus has also provided submissions describing the September 2025 outage parameters and impacts as part of the inquiry process. [28]
Deal uncertainty around data centre expansion
Any transaction involving STT GDC would be strategically significant but also introduces classic deal risks: valuation, financing, integration, regulatory approvals, and timing. Reuters explicitly noted terms and timeline were still subject to change. [29]
Associate exposure and currency sensitivity
Broker scenario work (notably Citi’s bull/bear framing) highlights how Singtel’s valuation can swing with assumptions around Bharti Airtel, FX moves and regional momentum. [30]
Week-ahead outlook: what to watch (week of 15–19 Dec 2025)
With no earnings scheduled this coming week, the near-term Singtel stock narrative is likely to be headline- and flow-driven. Key things that could move the share price:
- Follow-through from the IMDA fine: whether it stays a one-day talking point or feeds into broader reliability expectations for telcos. [31]
- More broker commentary: after Citi’s resumed coverage and DBS’s target hike, additional research updates can reinforce (or challenge) the new target-price cluster. [32]
- Any fresh developments on STT GDC talks: a year-end timeline has been floated by sources in earlier reporting, so the market may stay sensitive to confirmations/denials. [33]
- Buyback disclosures: ongoing repurchases can influence short-term supply/demand, particularly if volumes stay elevated. [34]
- Optus/inquiry headlines in Australia: regulatory tone and reputational risk can spill over to Singtel’s valuation, even when the core Singapore business is steady. [35]
Bottom line: Singtel’s near-term setup is “steady uptrend, more headlines”
Singtel enters the new week with a constructive technical backdrop (still not far from 52‑week highs) and a supportive analyst narrative built around capital management, associate value, and data centre optionality—but also with service reliability and regulatory scrutiny firmly back in the frame after IMDA’s fine. [36]
As always, Singtel is the kind of stock where the short-term tape can be noisy—while the bigger valuation debate revolves around whether its infrastructure and associate-driven growth can meaningfully lift the group’s earnings mix over the next 12–24 months. [37]
References
1. www.investing.com, 2. www.investing.com, 3. www.investing.com, 4. www.businesstimes.com.sg, 5. www.businesstimes.com.sg, 6. www.theedgesingapore.com, 7. www.theedgesingapore.com, 8. www.theedgesingapore.com, 9. www.theedgesingapore.com, 10. www.theedgesingapore.com, 11. www.businesstimes.com.sg, 12. www.singtel.com, 13. www.reuters.com, 14. www.businesstimes.com.sg, 15. www.reuters.com, 16. www.singtel.com, 17. www.theedgesingapore.com, 18. www.marketscreener.com, 19. sginvestors.io, 20. www.theedgesingapore.com, 21. www.theedgesingapore.com, 22. www.tipranks.com, 23. www.investing.com, 24. www.singtel.com, 25. www.investing.com, 26. www.businesstimes.com.sg, 27. www.reuters.com, 28. www.optus.com.au, 29. www.reuters.com, 30. www.theedgesingapore.com, 31. www.businesstimes.com.sg, 32. www.theedgesingapore.com, 33. www.reuters.com, 34. www.businesstimes.com.sg, 35. www.aph.gov.au, 36. www.investing.com, 37. www.reuters.com
