M1

M1: Daiwa believes M1 is on a better footing compared to rival, StarHub, as it offers higher exposure to postpaid segment. Going forward, M1 expects the outlook for the postpaid segment to be robust due to rising penetration of tiered data plans and also because of its repricing efforts. The company also hopes to lower handset subsidies in the long-run but M1 ruled out any unilateral action in this regard. Even though Daiwa likes M1 for its exposure to post-paid segment and low-risk dividend profile, house maintain its Hold rating on rich valuations, with TP of $3.38.