Singtel falls 2.5% after announcing S$3.1 billion impairment hit

SHARES of Singtel 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.