Singtel falls 2.5% after announcing S$3.1 billion impairment hit
The group says that Optus is in a network-sharing deal with TPG Telecom
SHARES of Singtel : Z74 0% fell 2.5 per cent or S$0.06 to close at S$2.35 on Monday (Apr 29) after the telco announced that it expects to recognise around S$3.1 billion in exceptional non-cash impairment provisions for the second half ended Mar 31.
The group said this will result in a net loss for the second half of 2024 and lower net profit for the full-year period.
However, it does not expect the provisions to affect its dividend payment and underlying net profit for the full-year period, which remains on track.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
ABN Amro rides high rates with first-quarter net profit beat
Honda moves to cut China workforce with voluntary layoffs
Top shipbuilder expands Asia business with Philippines deal
Hot stocks: Index counters in the red after news of MSCI deletion
China allows visa-free entry for overseas groups on cruise ships
Xiaomi becomes 8th largest EV upstart in China after successful SU7 launch