Ann: Half Year Results Webcast Details, page-6

any comments on the valuation.~1.8bn valuation, but only $44m annualised EBITDA. Typically asian telcos trade at ~8-10x at maturity. TPG, its sister trades at 6.6X EBITDA but thats aussie which is a bit lower. The price has fully discounted over $180m in EBITDA from $44M EBITDA annualised currently. This will take several years on basic mathematics. Yes it could expand to other countries, but Teoh being Singaporean has no track record anywhere else than these countries- aus and sing.

The customer adds would slow at some point- singapore has a ~5.5m population, so this stock is really really expensive, possibly the most expensive telco in the world.