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
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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.
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