M1

M1: becomes the first to introduce 4G cellular services in Spore after it launched an ultra high-speed mobile broadband service over its newly minted LTE (long-term evolution) network in selected parts of the country.
Its LTE will initially cover major areas in and around Spore's financial district, in the Marina Bay area as well as Tanjong Rhu...

Coverage will be progressively expanded and scheduled to be nationwide by 1Q12. LTE allows operators to offer blazing cellular data speeds that are >100x faster than existing 3G. SingTel and StarHub will both roll out their LTE networks later this yr...

CIMB keeps earnings forecasts, $2.63 TP, and Neutral rating. But says M1 remains as top pick in the Spore telco sector, as it has most scope for capital mgt. Notes the “soft launch” of LTE is not expected to have much impact on either revenue or costs...

Technically, M1 has been one of the better share performers amidst the recent mkt correction. Counter closed at $2.52 yday, just shy of its all-time high of $2.55 made last wk. The longer term uptrend is still intact, with the key moving averages and indicators rising positively.