Singapore, Jan 30, 2026, 14:50 (SGT) — Regular session
- Singtel shares gained S$0.08, rising 1.75% to S$4.65 in afternoon trading.
- The stock has fluctuated between S$4.59 and S$4.65, with roughly 11.6 million shares traded to date.
- Investors await the February earnings update for new guidance.
Shares of Singapore Telecommunications Ltd (Singtel) climbed 1.75% to S$4.65 by mid-afternoon Friday, standing out amid a sluggish Singapore market.
Singtel, often treated like a dividend proxy, faces scrutiny over timing. As a major local benchmark, traders are debating if “defensive” truly equals safety amid fluctuating rate forecasts.
The Straits Times Index slipped 0.07% to roughly 4,926 points, according to delayed data.
Singtel started the day at S$4.61 and has fluctuated between S$4.59 and S$4.65 since. So far, roughly 11.58 million shares have changed hands, compared to 15.84 million on Thursday, when the stock closed at S$4.57.
Few new company updates explain the recent move. The most recent announcement came on Jan. 16, when Singtel revealed that NCS CEO Ng Kuo Pin will step down, with Sam Liew set to assume the position on April 1.
Singapore equities climbed on Thursday following the U.S. Federal Reserve’s decision to keep interest rates unchanged. Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho Securities, described the pause as “universally expected” but noted it had “a more hawkish edge.” The Straits Times
Singtel has long been focused on moving past traditional telco growth. In November, the company projected higher operating earnings from its core businesses. CEO Yuen Kuan Moon noted that the group’s growth drivers would “change the complexion of the business.” He also said its digital infrastructure division aims for EBITDA — earnings before interest, taxes, depreciation and amortisation — to climb over 20% annually for the next four years. Reuters
In a Dec. 11 note, DBS Group Research analyst Sachin Mittal said Singapore mobile ARPU—average revenue per user—is expected to stabilise by mid-2026. He also flagged data-centre earnings as a key near-term variable, with new capacity coming online.
Optus still poses a risk. The Australian arm came under fire following a failure of the “triple-0” emergency call system. Singtel’s CEO apologized, calling the incident “deeply sorry,” as Optus launched an independent review. ABC News
Singtel’s earnings report, set for Feb. 18, is the next key event, Investing.com says. Investors will be focused on updates to dividend guidance and if the digital infrastructure buildup is clearly reflected in the results.
