Chart 1 : Singtel monthly chart
RHB Bank analysts have suggested that Singapore Telecommunications (Singtel) should be bought by investors because the Asean data centre market is about to experience “hyper-growth”. The analysts added that the positive outlook resonates well with their preference for fixed-line plays, as Singapore’s calibrated data centre growth is squeezing inventory, resulting in overflow to neighbouring hubs. Singtel is expected to be a leader in data centre services regionally with the best interconnectivity in Southeast Asia by 2026. The group already owns and operates seven data centres in Singapore with a rated capacity of over 70 MW, but it plans to expand to over 170 MW regionally within three to five years through joint ventures with Indonesia and Thailand. ~ source: thedge
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