Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

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<p>Smartkarma hosted the Starhub's management team and Insight Provider, <a href="https://www.smartkarma.com/profiles/alec-tseung/research" target="_blank" rel="noopener">Alec Tseung</a>, in an exclusive Corporate Webinar on 17 September '25. They dove deep into how the company is navigating the evolving telco landscape in Singapore, and charting their path to future growth.</p>
<p>Catch the full discussion below: </p>
<div style="display: flex; justify-content: center; align-items: center;"><iframe src="https://www.youtube.com/embed/QJ6TZ4eELlk?si=B0B717eg-jK8CGO8" width="560" height="315" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="allowfullscreen"></iframe></div>
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<p>For our next Corporate Webinar, engageIR by Smartkarma is glad to welcome <a href="https://www.smartkarma.com/entities/starhub-ltd" target="_blank" data-smartkarma-citation="entities:119" rel="noopener">StarHub Ltd (STH SP)</a>’s CEO, Mr. Nikhil Eapen.</p>
<p>In the upcoming webinar, Nikhil will share a short company presentation after which he will engage in a fireside chat with Smartkarma Insight Provider, <a href="https://www.smartkarma.com/profiles/alec-tseung/research" target="_blank" rel="noopener">Alec Tseung</a>. The Corporate Webinar will include a live Q&amp;A session.</p>
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<h3>The Corporate Webinar will be hosted on Wednesday, 17 September 2025, 17:00 SGT.</h3>
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<h2><a href="https://engageir.co/webinar-registration-form-sept2025-2/" target="_blank" rel="noopener">Register for the Webinar Here</a></h2>
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<h3>About StarHub</h3>
<p>StarHub is a leading homegrown Singapore company that delivers world-class communications,<br>entertainment, and digital services. With their extensive fibre and wireless infrastructure and<br>global partnerships, they bring to people, homes and enterprises quality mobile and fixed<br>services, a broad suite of premium content, and a diverse range of communication solutions. They develop and deliver solutions incorporating artificial intelligence, cybersecurity, data analytics, Internet of Things, and robotics for corporate and government clients.</p>
<p>StarHub is committed to conducting their business sustainably and responsibly. StarHub is named among TIME’s World’s Most Sustainable Companies 2025 and ranked as the world’s most<br>sustainable wireless telecommunication provider on the Corporate Knights Global 100 (2025).<br>StarHub also ranks 187 on the FORTUNE Southeast Asia 500 in 2025. Listed on the Singapore<br>Exchange mainboard, StarHub is a component stock of the SGX iEdge Singapore Low Carbon<br>Index, iEdge-OCBC Singapore Low Carbon Select 50 Capped Index; as well as the FTSE4Good<br>Index series.</p>
<p>For more information on StarHub, please visit <a href="https://ir.starhub.com/" target="_blank" rel="noopener">https://ir.starhub.com/</a></p>
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Smartkarma hosted the Starhub's management team and Insight Provider, Alec Tseung, in an exclusive Corporate Webinar on 17 September '25. They dove deep into how the company is navigating the evolving telco landscape in Singapore, and charting their path to future growth.
Catch the full discussion below: 


For our next Corporate Webinar, engageIR by Smartkarma is glad to welcome StarHub Ltd (STH SP)’s CEO, Mr. Nikhil Eapen.
In the upcoming webinar, Nikhil will share a short company presentation after which he will engage in a fireside chat with Smartkarma Insight Provider, Alec Tseung. The Corporate Webinar will include a live Q&amp;A session.








The Corporate Webinar will be hosted on Wednesday, 17 September 2025, 17:00 SGT.












Register for the Webinar Here












About StarHub
StarHub is a leading homegrown Singapore company that delivers world-class communications, entertainment, and digital services. With their extensive fibre and wireless infrastructure and global partnerships, they bring to people, homes and enterprises quality mobile and fixed services, a broad suite of premium content, and a diverse range of communication solutions. They develop and deliver solutions incorporating artificial intelligence, cybersecurity, data analytics, Internet of Things, and robotics for corporate and government clients.
StarHub is committed to conducting their business sustainably and responsibly. StarHub is named among TIME’s World’s Most Sustainable Companies 2025 and ranked as the world’s most sustainable wireless telecommunication provider on the Corporate Knights Global 100 (2025). StarHub also ranks 187 on the FORTUNE Southeast Asia 500 in 2025. Listed on the Singapore Exchange mainboard, StarHub is a component stock of the SGX iEdge Singapore Low Carbon Index, iEdge-OCBC Singapore Low Carbon Select 50 Capped Index; as well as the FTSE4Good Index series.
For more information on StarHub, please visit https://ir.starhub.com/


Smartkarma Corporate Webinar | StarHub: Driving Growth in Singapore's Evolving Telco Landscape

Director and Founding Member, Corporate Monitor Limited

Tan Yee Peng

Director and Founding Member

Strengthening Corporate Performance

Corporate Monitor Limited

Corporate Monitor was established to encourage better performance of companies, particularly companies listed on the SGX, and hold their management and boards to account, for the benefit of their shareholders and stakeholders.

<ul><li>We commend StarHub for putting shareholder returns as a key priority; it is front and centre in its annual reports, and a significant portion of the CEO’s compensation is tied to returns targets.</li><li>This is certainly not common among SGX listed companies, many of which do not even have Return on Equity (“ROE”) targets.</li><li>In fact, less than 20% of SGX companies have 5-year average ROE of more than 10%, which is approximately the cost of equity for most companies.</li></ul>

We commend StarHub for putting shareholder returns as a key priority; it is front and centre in its annual reports, and a significant portion of the CEO’s compensation is tied to returns targets.This is certainly not common among SGX listed companies, many of which do not even have Return on Equity (“ROE”) targets.In fact, less than 20% of SGX companies have 5-year average ROE of more than 10%, which is approximately the cost of equity for most companies.

Starhub Ltd: An Analysis of the Returns to Shareholders and Governance

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

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<a href="https://www.smartkarma.com/entities/vodafone-idea-ltd" target="_blank" data-smartkarma-citation="entities:15678:1" rel="noopener">Vodafone Idea (IDEA IN)</a> plans to raise around US$2.2bn via a follow-on public offering.</li>
<li>The deal has been in the works for years and proceeds will be used for capex and short-term debt repayment.</li>
<li>In this note, we will run the deal through our ECM framework and talk about the deal dynamics.</li>
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Vodafone Idea (IDEA IN) plans to raise around US$2.2bn via a follow-on public offering.
The deal has been in the works for years and proceeds will be used for capex and short-term debt repayment.
In this note, we will run the deal through our ECM framework and talk about the deal dynamics.


Vodafone Idea Placement - Very Well Flagged but Its Not Going to Fix a Whole Lot of Issues

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

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<a href="https://www.reuters.com/markets/deals/china-mobile-explores-acquiring-hong-kong-telecom-firm-hkbn-sources-2023-04-18/" target="_blank" rel="noopener">Reuters reported</a> that <a href="https://www.smartkarma.com/entities/china-mobile" target="_blank" data-smartkarma-citation="entities:35371:1" rel="noopener">China Mobile (600941 CH)</a> is exploring a potential buyout of <a href="https://www.smartkarma.com/entities/hkbn-ltd" target="_blank" data-smartkarma-citation="entities:289:1" rel="noopener">HKBN Ltd (1310 HK)</a>. The shares surged 12.3% to HK$6.57, above I Squared’s rumoured HK$6.00 offer. </li>
<li>To get an idea of the appropriate offer price, we examine shareholding dealings from substantial shareholders. Our analysis suggests that a scheme offer of around HK$8.50 would likely be required.</li>
<li>PAG is also a rumoured bidder. The flurry of interest around HKBN suggests a good probability that one of the bidders will come through with a formal offer.</li>
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Reuters reported that China Mobile (600941 CH) is exploring a potential buyout of HKBN Ltd (1310 HK). The shares surged 12.3% to HK$6.57, above I Squared’s rumoured HK$6.00 offer. 
To get an idea of the appropriate offer price, we examine shareholding dealings from substantial shareholders. Our analysis suggests that a scheme offer of around HK$8.50 would likely be required.
PAG is also a rumoured bidder. The flurry of interest around HKBN suggests a good probability that one of the bidders will come through with a formal offer.


HKBN (1310 HK): China Mobile Is the Latest to Show Interest

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<a href="https://www.bloomberg.com/news/articles/2023-02-28/hong-kong-s-hkbn-is-said-to-get-1-billion-buyout-offer-from-hgc" target="_blank" rel="noopener">Bloomberg reported</a><a href="https://www.smartkarma.com/entities/hkbn-ltd" target="_blank" data-smartkarma-citation="entities:289:1" rel="noopener">HKBN Ltd (1310 HK)</a> has received a takeover offer from HGC Global Communications at a valuation of more than US$1 billion (implies around HK$6 per share).</li>
<li>The shares rose 11.6% to HK$5.59 before entering a trading halt. The rumoured price is underwhelming compared to historical multiples and share prices. </li>
<li>HKBN has a relatively concentrated shareholder register which suggests that the rumoured takeover premium of around 20% is not going to cut it.</li>
</ul>



Bloomberg reportedHKBN Ltd (1310 HK) has received a takeover offer from HGC Global Communications at a valuation of more than US$1 billion (implies around HK$6 per share).
The shares rose 11.6% to HK$5.59 before entering a trading halt. The rumoured price is underwhelming compared to historical multiples and share prices. 
HKBN has a relatively concentrated shareholder register which suggests that the rumoured takeover premium of around 20% is not going to cut it.


HKBN (1310 HK): Trading Halt, HGC’s Rumoured Takeover Offer

Singapore

StarHub Ltd. is a fully-integrated info-communication company offering a full range of information, communications, and entertainment services for both consumer and corporate markets in Singapore. The Company provides mobile network and multi-channel cable TV services, including high definition and on-demand services, as well as high-speed residential broadband services.

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StarHub Ltd (STH SP)

Smartkarma Corporate Webinar | StarHub: Driving Growth in Singapore's Evolving Telco Landscape

For our next Corporate Webinar, engageIR by Smartkarma is glad to welcome StarHub’s CEO, Mr. Nikhil Eapen. In the upcoming webinar, Nikhil will...

Smartkarma Research

Starhub Ltd: An Analysis of the Returns to Shareholders and Governance

We commend StarHub for putting shareholder returns as a key priority; it is front and centre in its annual reports, and a significant portion...

Corporate Monitor Limited

Vodafone Idea Placement - Very Well Flagged but Its Not Going to Fix a Whole Lot of Issues

Vodafone Idea (IDEA IN) plans to raise around US$2.2bn via a follow-on public offering. In this note, we talk about the deal dyanmics.

Sumeet Singh

HKBN (1310 HK): China Mobile Is the Latest to Show Interest

To get an idea of the appropriate offer price, we examine shareholding dealings from substantial shareholders. Our analysis suggests that a scheme...

Arun George

HKBN (1310 HK): Trading Halt, HGC’s Rumoured Takeover Offer

It will be tough to pull off privatisation at the rumoured valuation of more than US$1bn (around HK$6 per share). Nevertheless, the renewed...

Arun George

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