NetLink Trust *Official* (SGX:CJLU)

[uncle168]

key facts of doomed to fail netlink trust ipo

2.89b units offered

$0.80 to $0.93

$3.1b to $3.6b market cap

up to $2.69b may be raised

singtel to retain 25% stake

10 july can press atm

19 jul commence trading

epu is 2.06 cents

project fy18 epu 1.14c fy19 1.7c

While the Trust Group has a relatively dominant position in the provision of fibre network infrastructure to residential end-users, there can be no assurance that competitors will not develop their own networks, particularly in certain newer estates or private developments in Singapore. Additionally, the non-residential fibre network space is already highly competitive, as several entities have laid their own fibre networks in Singapore’s CBD and certain large business parks. Many of the owners of these fibre networks are also Retail Service Providers, meaning that they have the ability to offer the full range of connectivity services to their potential non-residential customers, providing them with a competitive advantage. The regulatory limitations on the Trust Group’s business do not permit the Trust Group to
offer active network services, meaning that it must partner with Requesting Licensees in order to serve the non-residential market. For areas where the Requesting Licensees have their own fibre networks, the demand for the use of the Trust Group’s network is likely to be lower

prospectus pg 50

https://eservices.mas.gov.sg/opera/...c.aspx?shrID=28909a732b1d42649c306764a5b3325b

 

[uncle168]

everyday i see singtel, starhub, m1, myrepublic and viewquest contractor dig the road and lay their own fibre network

the capex for laying fibre network can be depreciated over its useful life which is cheaper than leasing it from netlink trust

after netlink trust ipo sure increase price then nobody use all go and lay their own fibre

keekeekee

 

[uncle168]

netlink trust has been troubled by conflict of interest from day one

even after it ipo the conflict of interest will push the telcos to build their own fibre network instead of using netlink trust due to the lower cost to depreciate vs leasing

 

[Minx99]

everyday i see singtel, starhub, m1, myrepublic and viewquest contractor dig the road and lay their own fibre network

the capex for laying fibre network can be depreciated over its useful life which is cheaper than leasing it from netlink trust

after netlink trust ipo sure increase price then nobody use all go and lay their own fibre

keekeekee

Uncle may have lots of silver hair, but don't write him off. Sometime he raises a pertinent point...

 

[lsm_83]

Thanks. Will just call up. As I don't has any broker.

The 50k placement is sure get one right?

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If you have spare cash to hoot and let it rot, I guess it might ok. If you are trading, I would suggest you press ATM. In case first day it close below IPO price. Seems a bit over price base on 80cents

 

[uncle168]

a few weeks ago i saw starhub dig the road and lay fibre

then a few weeks later i saw m1 dig the same road and lay fibre

then a few weeks later i saw singtel dig the same road and lay fibre

then a few weeks later i saw viewquest dig the same road and lay fibre

then a few weeks later i saw myrepublic dig the same road and lay fibre

then a few weeks later i saw sp power dig the same road and lay fibre

so now the same road below got 6 company's fibre leh

how netlink trust going to make money?

 

[raidorz]

a few weeks ago i saw starhub dig the road and lay fibre

then a few weeks later i saw m1 dig the same road and lay fibre

then a few weeks later i saw singtel dig the same road and lay fibre

then a few weeks later i saw viewquest dig the same road and lay fibre

then a few weeks later i saw myrepublic dig the same road and lay fibre

then a few weeks later i saw sp power dig the same road and lay fibre

so now the same road below got 6 company's fibre leh

how netlink trust going to make money?

How you know they didn't sub contract to NLT to dig?

 

[uncle168]

they got stick the sticker on the cone

like if m1 dig the orange cone got m1 name

 

[uncle168]

there is no law in singapore that the telco cann lay their own fibre

as last time singtel owes and control netlink when other telco want to activate their coporate client netlink take own sweet time

so they tu lan and ownself lay own cable

even netlink prospectus got write on pg 50

only uncle bother to read prospectus

all of you just press atm never read

 

[RM2SSG]

netlink trust has been troubled by conflict of interest from day one

even after it ipo the conflict of interest will push the telcos to build their own fibre network instead of using netlink trust due to the lower cost to depreciate vs leasing

From press report today; To maintain network structural separation, Singtel is required (by regulation) to divest their shares of the company when Netlink goes public. The new entity will be managed by Netlink Trust management.

Prospectus will have to say the business environment carries risks (where got business bao jiak one) where other active service companies or retail businesses could build their own fibre network but I believe those who have dealt with network services (as a commercial services) will know that even today Singtel still has the most established network infrastructure in Singapore especially to those more extreme ends of Singapore.

I don't work for either of the companies and am still evaluating if this is an IPO I would bid in.

 

[madtari]

I don't think is sure get one... if over subscribed, will still need to ballot right? Unless ur the preferred client, then book runner may allocate fully for u.

Thanks. Will just call up. As I don't has any broker.

The 50k placement is sure get one right?

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[uncle168]

the epu is 2 cents nia

the lowest price is 80 cents

to get 5% yield

nlt have to pay dpu 4 cents leh

it has to pay double its epu by borrowing more and more money to maintain its dpu like starhub

 

[agent_719]

Now can go atm press already? Or is between 10-17 July

 

[uncle168]

iocbc is placing out

each person can buy 20 lots

 

[uncle168]

i wouldn't buy it would drop to 40 cents on 5% yield on dpu of 2 cents

 

[walkofwinners]

iocbc is placing out

each person can buy 20 lots

Minimum order is 20lots not each person can buy 20 lots.

 

[walkofwinners]

Jialat if this ipo is so juicy, singtel should be eating more than 25%. Looks like a good money sucking tool for single by floating more to public to get access to more public funds.

Good for an ipo punt then throw.

 

[Scrabby]

With billions of scrips on offer and pathethic 5 odd percent yield that will only be paid out after 9 long months upon listing (after 31st March 2018) + the need for stabilising mgr to buy back underwater scrips from open mkt for stabilising act should over allotment be triggered, will u still be the brave hero to suscribe?

 

[P R N D]

If you have spare cash to hoot and let it rot, I guess it might ok. If you are trading, I would suggest you press ATM. In case first day it close below IPO price. Seems a bit over price base on 80cents

Can still apply thru ATM even I on placement share?

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[P R N D]

Jialat if this ipo is so juicy, singtel should be eating more than 25%. Looks like a good money sucking tool for single by floating more to public to get access to more public funds.

Good for an ipo punt then throw.

If not wrong, iMDA only allow SingTel to keep 25%, cannot more than that.

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