Hi Victor & Rusmin,

Currently i trying to perform the some simple valuation of Singtel, appreciate your thought & advice for below questions:

- Is P/E ratio the appropriate valuation tool for Singtel business?
- I tabulated the PE ratio from 2009 to current and get a average PE of 14.8. Based on current 2017 EPS of 0.2396, if if i take a conservative outlook of 2018 EPS is 5% lesser than 2017 EPS which work out to be 0.2276. So can i assume that the “actual value” of Singtel should be 0.2276 x 14.8 = $3.36?
- And based on $3.36, the safety margin should be around 7.5% based on current price of ~$3.11. Is this correct?