Excerpts from Maybank KE report

• Mobile operators are deploying millimetre wave (mmWave) 5G networks, which provide high level of transmission speeds and broader capacity in crowded urban areas. mmWave is best suited for environments that require ultra-low latency and higher speeds over shorter distances.

SingTel

Share price: 
$2.59

Target: 
$3.15

 A growing number of positive business cases are emerging for 5G mmWave deployments in high traffic, high-density scenarios, in both the consumer and industry markets.

• Singtel has been pushing its 5G dominance and we think it is in a forefront position to benefit from the global expansion of the mmWave technology.

SingTel speed test12.22Mock-up of speed test conducted by Singtel. Source: Singtel.
Unlocking full potential of 5G with mmWave
The migration from 4G LTE to 5G is a transformative process for the mobile industry, involving tremendous performance improvements and enabling networks to keep pace with the growing traffic demand.

In particular, 5G Frequency networks operating in the mmWave frequencies (24 GHz and higher) are able to provides greatly increased bandwidth in localised areas
at very low latency.

INFLECTION POINT
"We believe the sector is at an inflection point in deploying this technology (5G mmWave) as use cases accelerate."

5G mmWave technology enables many more users and devices to connect to the internet with faster responses. 5G mmWave could catalyse the growth of smart cities, increase connected vehicles, and more industrial automation.

Indeed, for technologies such as driverless vehicles require ultra-low latency connectivity to receive inputs and process information in as close to real time as possible. This level of real-time communication was nearly impossible with previous cellular standards.

Utilising mmWave for Industrial use cases
Business use cases that take advantage of the capabilities of 5G mmWave continue to emerge, with the technology able to provide reliable, high performance connectivity anywhere in the world. Increasingly, mobile operators are deploying 5G mmWave networks in crowded urban areas, such as sports arenas, stadiums, airports, concerts and other large venues.

Specifically, smart port technology is one of the most developed industrial applications for 5G, promising to drive efficiency and reducing costs through the automation and remote operation of machinery. Logistics, mining and other distance-based industries could enhance productivity through this technology, we believe.

While consumer-facing mobile network operators talk predominantly about the speed of downloads, for manufacturing, the focus is on ultra-reliable low-latency, and ubiquitous connectivity. These characteristics could benefit beyond industrials, such as in transportation as well as in the provision of healthcare and access to essential services.

For example, this could enable medical specialists to assist with diagnosis and treatments remotely. At the same time this technology could deliver remote training
across industries with the leveraging of metaverse capabilities, such as augmented reality and virtual reality.

Singtel is our top pick to benefit from this trend
Singtel’s (ST SP, SGD2.59, BUY, TP: SGD3.15) 5G Standalone (SA) network achieved over 95% 5G nationwide coverage in Singapore in 2022 and currently covers more than 1,300 outdoor locations and over 400 buildings.

Singtel has been appointed by Micron Technology to deploy its 5G mmWave solutions with localised edge core at its 3D NAND flash memory fabrication plant in Singapore.
With the implementation of 5G mmWave spectrum, we think ST would continue its dominance in the 5G space.

Singtel has been appointed by Micron Technology (MU US, USD55.35, NR) to deploy its 5G mmWave solutions with localised edge core at its 3D NAND flash memory fabrication plant in Singapore.

The customised solutions will be deployed at MU’s cleanroom to support the development of a variety of digitally enabled and enhanced applications – from automated visual inspections of individual chips to augmented reality (AR) for operations and maintenance.

This is an industry-first deployment and shows that 5G mmWave networks can be used for high-precision quality control and manufacturing operations. We believe the sector is at an inflection point in deploying this technology as use cases accelerate.


Full report here. 

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