Pinned straw:
As I have matured as an investor, I have increasingly come to think that telco businesses are only ever as good as their CEO. This is ultimately my thesis for ABB (I am a massive admirer of Phil Britt). Funnily enough, I hold a similar view of David Teoh -- his TPG exit was enough for me to remove it from the wishlist altogether and not look back. He was the basis for any interest I had in that business.
That said, I was intrigued when he popped up at Tuas, but I just didn't feel confident enough that I knew enough about the local market, despite David at the helm. That would have been a nice 400% investment win to date....doh!
Agreed @RodRocket , Tuas is a growth play with Teoh running it, and particularly if he has his old team back together. I would NOT touch TPG without David Teoh. I sold out of TPG on the day he announced he was leaving - with immediate effect. TPG is not what it was, and the management is now completely different. You basically have the old Vodafone management running TPG now and they didn't do very well with Vodafone, so not a quality Telco these days in my view. Tuas however shows a lot of promise.