Daily Brief Singapore: Singapore Airlines, Carousell, Singtel (Singapore Telecommunications), UOB and more

• Singapore Airlines (SIA SP) is growing its footprint in India, presenting an interesting opportunity for long term investors. 
• However, it may come slightly costly in the near term as Indian aviation infrastructure is not that ready just yet. 
• Singapore Airlines (SIA SP) does not trade at a significant discount to its peers from PER and PBR. 

• Carousell is a leading online classifieds and recommerce platform in Southeast Asia, with a strong brand presence and a large, active user base. The company is strategically focused on achieving profitability by diversifying its revenue streams, controlling costs, and expanding into high-margin categories like luxury goods and automobiles.
• The company faces intense competition from larger, well-funded e-commerce giants such as Shopee and Lazada, as well as other specialized platforms. Key challenges include monetizing its large user base effectively and mitigating the risks associated with scams and fraudulent activities on its platform.
• Recent financial performance indicates a positive trend towards profitability, with narrowing losses and steady revenue growth. Future growth is expected to be driven by strategic acquisitions, technological advancements including the use of AI, and capitalizing on the growing consumer trend towards sustainability and the circular economy.

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• Singtel maintains a dominant market position in Singapore and a strong presence in Australia through Optus, underpinned by a robust and extensive network infrastructure.
• The company is navigating a strategic pivot towards high-growth areas such as ICT services (NCS), data centres (Nxera), and 5G development to offset declines in legacy services and capitalize on digitalization trends.
• While facing significant near-term risks and reputational challenges at its Australian subsidiary Optus, Singtel’s diversified earnings base, contributions from regional associates, and a commitment to shareholder returns provide a degree of stability.

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• Institutions recorded a net inflow of S$236 million in Singapore stocks from Nov 7 to Nov 13, reversing prior outflows.
• United Overseas Bank led share buybacks with 1,071,900 shares at an average price of S$33.95, totaling S$56.5 million.
• Fuxing China Group raised S$1.245 million through a placement of 3 million shares at S$0.415 each.