What will Singtel's new CEO mean for its share price?
INVESTORS craving a change in management direction at what was once Singapore's largest public-listed company have finally got what they want - sort of - with the appointment of Yuen Kuan Moon as the new chief executive of Singtel.
The argument for change is strong, given that Singtel's earnings are now lower than they were 10 years ago. Its balance sheet is more heavily geared, and its capacity to service its debt load has deteriorated. Meanwhile, many of its digital investments - pay-TV, music streaming and online advertising - have not paid off.
Singtel's dividend for FY2020 was S$0.1225 per share, versus S$0.175 per share for FY2019. Last month, its shares slumped to a 12-year low.
There were nine contenders for the top job at Singtel, said its chairman Lee Theng Kiat. He did not reveal how many - or, indeed, whether any - were ou…
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Bitcoin 'halving' has taken place: CoinGecko
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try
Honda to invest US$808 million in Brazil by 2030
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines