Singtel

Singtel: Divested its entire 40% stake of 10m shares in priv coTeletech Park to Ascendas Land for approx $15m. Co will book a gain of $4m on the book value of the shares that were $11m. Price was taken after considering Telepark had a NTA value of $26m and adjustedfor the value of invt property but may be subject to a post-completion adj if audited NTA differs. Singtel is now trading at 13.0x P/E with yield of 5.1%, compared to Starhub at P/E of 16.4x with yield of 6.9%