StarHub likely to snag corporate market share from SingTel

That's in the enterprise segment.

According to DBS, given that StarHub has started to build its own infrastructure to reach every floor of corporate buildings, the company has an opportunity to win market share from SingTel (>80% share) in the enterprise segment. 

DBS thinks StarHub could easily grow its Corp fixed line (~17% of service rev) by mid to high single digits going forward.

Here's more from DBS:

This segment has grown at low to mid single-digit pace in the past without government subsidies and without investing its own capex.

Prepaid mobile and fixed broadband under pressure. Curbs on foreign labour in Singapore and declining voice and SMS usage due to Smartphone should result in a mid single-digit decline in prepaid mobile revenue in our estimates (~11% of service rev).

Fixed broadband may also see a single-digit decline as ARPU may fall by another 8-10%. StarHub’s fixed broadband ARPU of S$42 (4Q13) could dilute to S$39, which is what most players charge for 100Mbps+ broadband speeds.

We like to believe that subscribers may get 100-500Mbps speeds at the same price.