Singapore Telecommunications said on Monday it expects to report a net loss for second-half of fiscal year 2024, as it flagged exceptional non-cash impairment provisions of S$3.1 billion ($2.28 billion) for the period.
FILE PHOTO: A woman using a mobile phone walks behind a Singtel signage at their head office in Singapore February 11, 2016. REUTERS/Edgar Su/File PhotoSingapore Telecommunications said on Monday it expects to report a net loss for second-half of fiscal year 2024, as it flagged exceptional non-cash impairment provisions of S$3.1 billion for the period.
About S$2 billion of the total impairment provision originates from its mobile network operation unit, Optus' goodwill, Singtel, Southeast Asia's largest telecom operator, said in its filing. Singtel added that Optus expects a non-cash impairment provisions of S$470 million on its enterprise fixed access network assets, mainly due to weaker prospects, increased cost of capital and a bleak macroeconomic outlook.
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