Singapore Telecommunications Limited (Singtel) has spent much of 2025 behaving less like a sleepy incumbent telco and more like a hybrid telecom + digital infrastructure story—helped by asset recycling, capital returns, and renewed attention on data centres and regional associates.
As of 26 December 2025, Singtel shares traded around S$4.59–S$4.60, up about 1.1% on the day and still not far from recent highs. [1]
The bigger question investors are wrestling with into 2026: can Singtel keep compounding “steady telco cashflows” with “infrastructure-style growth,” while containing the real-world operational and regulatory risks that come with being a critical national and regional connectivity provider?
Below is a full, up-to-date roundup of the news flow, forecasts, and current analyst thinking that matters for Singtel stock as of 26.12.2025.
Singtel share price snapshot on 26 Dec 2025
Singtel ended the session at S$4.60 (with S$4.55 open, S$4.60 high, S$4.53 low) and about 3.46 million shares traded, according to Investing.com’s daily record. [2]
Financial Times market data shows Singtel at S$4.60, around 6.5% below its 52‑week high of S$4.92 (set 18 Nov 2025), with a 52‑week range of roughly S$3.04 to S$4.92. [3]
In other words: the stock is not screaming “cheap,” but it’s also not pricing in perfection—especially with a few unresolved overhangs (Optus reliability and regulatory scrutiny) still in the mix.
What’s driving Singapore Telecommunications Limited stock right now
1) Singapore regulator fine: IMDA imposes S$1 million penalty (Dec 11, 2025)
One of the most material Singapore-specific headlines in December was the Infocomm Media Development Authority (IMDA) imposing a S$1 million financial penalty on Singtel over a fixed voice disruption that occurred on 8 Oct 2024 and affected about 500,000 users, including disruption to some critical services and emergency hotlines. [4]
For investors, the direct financial impact is small relative to Singtel’s size—but the signal matters: regulators will penalise reliability failures, and telco resilience is now a board-level topic (not a “network team” topic).
2) Optus outage review lands: 21 recommendations after emergency call failures (Dec 18, 2025)
Across the causeway (and then some), Singtel-owned Optus remains a major swing factor for sentiment.
An independent review led by Kerry Schott into Optus’ 18 September 2025 outage flagged serious process and governance failures during a firewall upgrade. Reuters reported the outage lasted nearly 14 hours, with about 75% of Triple Zero emergency calls failing to connect, and the incident was linked to two fatalities; the review issued 21 recommendations that Optus said it accepted. [5]
Because Optus is a core contributor to Singtel’s group story, investors tend to treat these events as a “risk premium” tax on the stock: even if earnings improve, repeated reliability failures can translate into higher compliance cost, tighter oversight, and slower strategic freedom.
3) The data centre “optionality”: potential STT GDC mega-deal (and why it matters)
Singtel’s market narrative has increasingly leaned into digital infrastructure—especially data centres—because that’s where the industry’s growth (AI workloads, cloud demand) has been clustering.
Reuters reported in November that KKR and Singtel were in advanced talks to jointly acquire full ownership of ST Telemedia Global Data Centres (STT GDC) in a transaction valued at over S$5 billion, though final terms and timing were still fluid. [6]
Separately, Singtel has also been financing expansion: Reuters earlier reported Singtel secured a S$643 million green loan to develop a 58MW “DC Tuas” data centre in Singapore, expected to commence operations in 2026—explicitly positioned for high-density AI workloads. [7]
The investor logic is simple: telco is stable, but slow; data centres can be fast—and if Singtel can scale them without blowing up the balance sheet, the market may keep re-rating the story.
4) Asset recycling accelerates: Singtel cuts Airtel stake again (Nov 7, 2025)
Another major catalyst in late 2025: Singtel sold a 0.8% stake in India’s Bharti Airtel for about S$1.5 billion, reducing its stake to 27.5%. Reuters noted the move is part of Singtel’s S$9 billion mid-term asset recycling program—designed to fund digital infrastructure and support shareholder returns. [8]
This kind of transaction matters for Singtel stock in two ways:
- It monetises a very successful long-term investment (Airtel has been a major value driver).
- It funds the “new Singtel” capital management machine: growth investment + dividends + buybacks.
5) Earnings and guidance: H1 FY26 supports the “growth engines” narrative (Nov 2025)
Singtel’s first-half FY2026 update (for the half-year) reinforced the idea that the group is being pulled forward by its regional footprint and infrastructure ambitions.
Reuters reported Singtel’s first-half underlying net profit rose 14% to S$1.35 billion, driven by Optus performance and higher contributions from regional associates (including Airtel, Telkomsel and AIS). The company also lifted its outlook, expecting OpCo EBIT (excluding associates) to grow high single digits to low double digits for FY2026, and highlighted that its digital infrastructure arm Nxera is expected to deliver >20% annual EBITDA growth over the next four years. [9]
Singtel also raised its interim dividend to 8.2 Singapore cents per share (from 7.0 cents a year earlier), according to the same report. [10]
Market summaries also pointed to the interim dividend being payable on 9 December 2025. [11]
Capital returns: buybacks are no longer theoretical
Singtel’s buyback story is not just talk. It’s been formalised and repeatedly surfaced in filings.
- Reuters reported Singtel announced a S$2 billion share buyback plan as part of its capital management strategy. [12]
- SGX filings in early December showed daily share buy-back notices (e.g., 2 Dec 2025 and 3 Dec 2025) describing buybacks executed to meet obligations under Singtel’s performance share plan, with the daily buyback mandate start date shown as 29/07/2025. [13]
For shareholders, buybacks matter most when they are (a) funded sustainably, (b) executed at sensible prices, and (c) paired with coherent capital allocation (i.e., not starving growth to buy shares, or vice versa). Singtel’s stated approach—use asset recycling to fund a mix of reinvestment and shareholder returns—has been one reason the stock held investor attention through 2025. [14]
Singtel stock forecasts: where analysts see the shares heading
Consensus target prices as of 26 Dec 2025
Aggregated sell-side targets compiled from recent broker reports (within the prior three months as of 26 Dec 2025) indicated Singtel targets ranging from roughly S$4.86 to S$5.75, with a median around S$5.14 and average around S$5.223. [15]
Other consensus trackers were broadly in the same ballpark:
- Investing.com’s analyst consensus (example: 17 analysts) showed an average 12‑month target around S$5.19, with estimates spanning roughly S$4.36 to S$6.20. [16]
At a ~S$4.6 share price, these targets imply low-double-digit upside—not a moonshot, but meaningful if the execution holds and the risk premium doesn’t widen.
A detailed broker view: DBS (publication date 11 Dec 2025)
DBS Research (as displayed on DBS’ platform) showed a BUY recommendation with a target price of S$5.71 (at time of publication), and highlighted catalysts including data centre EBITDA ramp in early 2026 and potential Singapore mobile ARPU stabilisation in mid‑2026, while noting the risk of competition/currency pressures (especially AUD). [17]
DBS also published modelled figures (at the time of publication) including forecasts for revenue and profit across FY2026–FY2027 and a forward dividend yield profile in the low-to-mid single digits. [18]
Whether you agree with the exact numbers or not, this is a useful window into how the market is framing Singtel: not purely as a telco, but as a collection of (1) a Singapore core, (2) Optus, (3) regional associates, and (4) digital infrastructure/IT services.
The 2026 outlook: what could go right (and what could go wrong)
The bull case for Singapore Telecommunications Limited stock
The optimistic path is basically a “three-engine glide”:
- Optus improves execution and reliability: earnings hold up, operational failures become less frequent, and the market stops applying a “discount for chaos.” [19]
- Data centres ramp: Singapore capacity expansions come online and utilisation/pricing remains supportive (helped by AI demand), reinforcing Nxera’s growth narrative. [20]
- Associates keep delivering: Airtel, AIS, Telkomsel and others sustain ARPU and profit contributions, while Singtel continues selective monetisation via asset recycling. [21]
Mix in disciplined capital returns (dividends + buybacks), and it’s not hard to see how Singtel maintains investor attention even if global markets get choppier.
The bear case: why the stock might stall even with “okay” earnings
The more cautious view focuses on risk clustering:
- Regulatory and reliability risk is no longer hypothetical, with the IMDA fine in Singapore and the Optus outage review in Australia landing within the same month. [22]
- Execution risk in data centres: big infrastructure expansions can go wrong through timing, capex overruns, power constraints, or softer demand pricing than expected. (The AI boom helps; it does not repeal physics or project management.) [23]
- Australia competition and currency: several research views flag AUD weakness and competitive behaviour as potential headwinds for Optus recovery and group results translation. [24]
The practical takeaway: Singtel can be “fundamentally fine” and still underperform if the market decides the risk premium should rise.
Bottom line for Singtel stock on 26.12.2025
As of 26 December 2025, Singtel sits in a market sweet spot: a large, dividend-paying incumbent with additional “infrastructure growth” ingredients (data centres, IT services, regional associates), plus an active capital returns narrative supported by asset recycling and buyback activity. [25]
But this is not a frictionless story. December’s headlines—Singapore’s IMDA fine and the Optus outage review—are reminders that telcos are essential services, and essential services get judged harshly when reliability fails. [26]
Consensus price targets clustered around the low-to-mid S$5 range suggest analysts broadly see upside from current levels—yet the gap between “target price” and “real price” will likely be decided by two things in 2026: Optus execution and data centre delivery. [27]
References
1. sginvestors.io, 2. www.investing.com, 3. markets.ft.com, 4. www.channelnewsasia.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.reuters.com, 11. simplywall.st, 12. www.reuters.com, 13. links.sgx.com, 14. www.reuters.com, 15. sginvestors.io, 16. www.investing.com, 17. www.dbs.com.sg, 18. www.dbs.com.sg, 19. www.reuters.com, 20. www.reuters.com, 21. www.reuters.com, 22. www.channelnewsasia.com, 23. www.reuters.com, 24. www.dbs.com.sg, 25. www.reuters.com, 26. www.channelnewsasia.com, 27. sginvestors.io
