On 6 May 2014 after the trading hours, the Infocomm Development Authority (IDA) has meted out a record of S$6 million fine to SingTel for the fire that broke out at a SingTel Bukit Panjang facility last year, causing a breakdown of mobile and broadband services to hundreds of thousands of subscribers. The fines will go to the digital inclusion fund. SingTel was also punished for lack of proper supervision that was found to have caused the fire.
On 7 May 2014, the start of trading session, SingTel shares drop by 3 cents which does not had any significant impact of the S$6 million fine. The shares of SingTel is still trading very strong despite the break out of the bad news. If retreat further, it creates an opportunity for investors to invest on this defensive stock which is giving good yield around 5-6%.
No comments:
Post a Comment