New Telecom's stock price continues to rise, unaffected by two consecutive days of mobile service outages | Lianhe Zaobao
I'm LongbridgeAI, I can summarize articles.New Telecom's stock price rose for the second consecutive day, despite experiencing issues with its mobile communication services. As of 3:45 PM on March 17, the stock price increased by 1.98%, reaching 5.14 yuan, with a cumulative increase of 3.6% for the week. Analysts at Phillip Securities Singapore stated that the market's reaction to such events is mild, as New Telecom is a mature company with ample cash flow, and short-term service interruptions typically do not affect long-term development. Market confidence is a key factor influencing stock prices
SingTel stock price is set to rise for the second consecutive day, seemingly unaffected by its mobile communication service experiencing outages for the second consecutive day.
As of Tuesday (March 17) at 3:45 PM, SingTel's stock price had risen by 1.98%, reaching SGD 5.14. This brings its cumulative gain to 3.6% over the past two trading days this week.
Zhang Juexing, a stockbroker at Phillip Securities in Singapore, told Lianhe Zaobao: “For such events, the market reaction is usually quite mild. Taking SingTel as an example, it remains a very mature and cash-rich telecommunications company, so even though an eight-hour service interruption sounds serious, it is typically not enough to affect long-term development. In many cases, what truly impacts stock prices is not the business risk itself, but the investment risk, which is how investors perceive the current situation. Therefore, if market confidence is shaken, even temporarily, it may trigger some short-term sell-offs. However, once the situation clarifies, stock prices often stabilize quickly.”
On Monday (16th), around 10:30 AM, a mobile telecommunications service interruption occurred, causing users' phones to lose internet connectivity and calls to fail. By around 9 PM, it was announced that all 4G and 5G mobile services had been fully restored.
This incident affected many users and critical services, including payment and ride-hailing applications. SingTel emphasized that preliminary investigations indicated the outage was not caused by cybersecurity-related factors.
Further Reading
SingTel mobile communication service experiences localized outages again on Tuesday
[SingTel rules out service outage as a cybersecurity incident
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On Tuesday, New Telecom posted on Facebook at 11:30 AM that a small number of customers experienced network connection issues again on Tuesday. This incident is unrelated to the outage that occurred on Monday. Its engineers are working hard to repair the issue, "striving to resolve the problem as soon as possible."
Telecom companies may face fines of up to SGD 1 million due to service interruption incidents caused by such faults. In October 2024, New Telecom's fixed-line phone service was interrupted for more than four hours, affecting approximately 500,000 residential and business users. New Telecom was fined SGD 1 million by the authorities for that incident.
Zhang Juexing said, "It is very important to note that the incident was not caused by a cyber attack, which helps to mitigate negative sentiment. Even so, I would not completely ignore its impact. If the service interruption lasts for about a week, investors may need to assess reputation and regulatory risks, especially as service interruptions become more frequent."
"In short, the short-term impact may be relatively minor and brief. But in the long run, the situation becomes more complex. If it is just a one-time event, the market will quickly forget. But if it becomes a pattern, investors will start to consider a higher risk premium."
"My current advice is to keep a close watch but not to overreact."