Telcos have been hammered for various reasons. Some said the drop was because of the arrival of the 4th telco. Others believed the drop was because of their "bond-like" characteristic in the portfolio for their stable dividend. I tended the agree on the later, because it's not only Singapore telcos that got sold-off.
At $3.65, Singtel traded 3.4% higher from my buying price in January 2016. Amongst the telco, I perceived Singtel to be the most resilient due to it's more diverse and regionalized business.