It looks like there will be delay for the Singapore’s 4th telco to roll out their mobile services. According to reports from one of the analysts, the commercial roll out will be pushed back to 2nd quarter of 2019.
This is due to delay in rolling out in building coverage while negotiating with existing mobile operators to access their jointly built common antenna system and commercial buildings and MRT stations. TPG managed to gain access after regulatory intervention.
TPG is also delayed due to the time testing sub systems and better integration of different components of its mobile network.
TPG is relying of Netlink Trust to provide non building access points at a price of S$73.80 / mth.
With MVNOs from Singtel, M1, Starhub launching $0, $9.90 plans, TPG might have problems snatching customers from the incumbents. If they launch a fibre broadband service, existing users might not change over unless the offer is super attractive.
KE-Maybank is Overweight on telcos and is raising Singtel target price to S$3.98 and Starhub at $1.85.