Singapore Telecommunications (SG:Z74) has released an update.
Singapore Telecommunications Limited (Singtel) anticipates a S$3.1 billion non-cash impairment provision for the fiscal year ending March 31, 2024, with no effect on dividend payments or the underlying net profit. The provisions include a S$470 million impairment of Optus’s enterprise fixed assets, a S$2 billion goodwill impairment for Optus, and further impairments for cybersecurity and NCS Australia businesses. Despite these provisions, Singtel’s overall net profit projection remains positive, although a net loss for the second half of the year is expected.
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