Stock Analysis: NetLink NBN Trust | Lianhe Zaobao

NetLink NBN Trust recommends a buy with a target price of SGD 1.05, closing price at SGD 0.98. The trust's net profit for the first nine months declined by 11.8% to SGD 65.4 million, affected by rising depreciation and financing costs, but partially offset by tax credits. Revenue increased by 1.6% year-on-year to SGD 313 million, with performance in line with expectations. Management stated that the cleanup of idle fiber connections has returned to normal, residential connections are stable, while non-residential connections face user attrition pressure. The trust continues to deploy mobile networks and is expected to benefit from developments in Jurong Island and the Smart Nation initiative