Singapore Telecommunications (Singtel) anticipates a huge non-cash impairment of S$3.1 billion (equivalent to $2.28 billion) for the latter half of 2024, indicating an impending net loss for the period. <o:p></o:p>

According to Reuters, the telecom company also warned of a diminished net profit for the full year concluding on March 31, 2024. <o:p></o:p>

The company’s share of this impairment, approximately S$2 billion, stems from the goodwill of its mobile network operation unit, Optus, Singtel revealed in a filing. <o:p></o:p>

This revelation follows the shelving of a possible stake divestment deal for Optus, which had been under discussion. <o:p></o:p>

Optus, a major entity within Singtel's portfolio, is expected to incur non-cash impairment provisions to of up to S$470 million on its enterprise fixed access network assets. <o:p></o:p>

This downturn is primarily attributed to dimming prospects, heightened cost of capital, and a pessimistic macroeconomic outlook. <o:p></o:p>

A review of its enterprise business revealed declines in fixed carriage revenue, consistent with broader market trends in Australia, as outlined in Singtel's filing. <o:p></o:p>

Additionally, Singtel foresees non-cash impairment provisions amounting to S$340 million for the goodwill of its Asia Pacific cyber security business and S$280 million for IT service provider NCS Australia.<o:p></o:p>

Singtel said that it was committed to ensuring shareholder returns, further saying that it would adhere to the upper threshold of its dividend policy for the fiscal year culminating on March 31, 2024. <o:p></o:p>

The company is scheduled to announce its financial results for the aforementioned period on May 23. <o:p></o:p>

Concurrently, Singtel's subsidiary Optus struck an agreement with local competitor TPG Telecom to grant access to its regional Australian radio network, as disclosed in a separate announcement on Monday.<o:p></o:p>

The disclosure of an impairment provision by Singtel brings out some major challenges that the telecom industry faces, particularly with regard to fixed access networks and cyber security. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Singapore Telecommunications (Singtel) anticipates a huge non-cash impairment of S$3.1 billion (equivalent to $2.28 billion) for the latter half of 2024, indicating an impending net loss for the period.

Singapore Telecommunications (Singtel) anticipates a huge non-cash impairment of S$3.1 billion (equivalent to $2.28 billion) for the latter half of 2024, indicating an impending net loss for the period. According to Reuters, the telecom company also warned of a diminished net profit for the full year concluding on March 31, 2024. The company’s share of this impairment, approximately S$2 billion, stems from the goodwill of its mobile network operation unit, Optus, Singtel revealed in a filing. This revelation follows the shelving of a possible stake divestment deal for Optus, which had been under discussion. Optus, a major entity within Singtel's portfolio, is expected to incur non-cash impairment provisions to of up to S$470 million on its enterprise fixed access network assets. This downturn is primarily attributed to dimming prospects, heightened cost of capital, and a pessimistic macroeconomic outlook. A review of its enterprise business revealed declines in fixed carriage revenue, consistent with broader market trends in Australia, as outlined in Singtel's filing. Additionally, Singtel foresees non-cash impairment provisions amounting to S$340 million for the goodwill of its Asia Pacific cyber security business and S$280 million for IT service provider NCS Australia. Singtel said that it was committed to ensuring shareholder returns, further saying that it would adhere to the upper threshold of its dividend policy for the fiscal year culminating on March 31, 2024. The company is scheduled to announce its financial results for the aforementioned period on May 23. Concurrently, Singtel's subsidiary Optus struck an agreement with local competitor TPG Telecom to grant access to its regional Australian radio network, as disclosed in a separate announcement on Monday. The disclosure of an impairment provision by Singtel brings out some major challenges that the telecom industry faces, particularly with regard to fixed access networks and cyber security. (With inputs from Reuters)

Singtel forecasts $2.3 bn impairment hit, expects net loss in 2024 second-half

Singapore Telecommunications Ltd said that its unit Dialog faced a cyber attack that potentially affected 1,000 current and former employees and fewer than 20 clients, weeks after a massive data breach at another Australian unit, Optus.

World Business Watch: Singtel's Dialog unit faces cyber attack weeks after Optus data breach

On Monday, Singapore Telecommunications Ltd indicated that its Dialog has faced another cyber attack potentially affecting 1,000 current and former employees. However, less than 20 clients have been affected, this attack comes weeks after another Australia unit – Optus – faced a massive data breach.&nbsp;

Singtel said on Monday that the attack on Dialog, an Australia-based information technology services consulting firm, was first detected a month ago (September 10). Since then the shares of the company were down 1.6% at 0845 IST, said a report by Reuters. It added that last week Dialog realised “a very small sample" of its data has been published on the dark web. This included some employees' personal information.&nbsp;

ALSO WATCH:&nbsp;<a href="https://www.wionews.com/videos/world-business-watch-singtels-dialog-unit-faces-cyber-attack-weeks-after-optus-data-breach-523906">World Business Watch: Singtel's Dialog unit faces cyber attack weeks after Optus data breach</a>

On the other hand, Australia’s second-largest mobile operator, Optus faced a data breach late last month, compromising the data of at least 10 million customers. Subsequently, this triggered an overhaul of customer privacy rules to facilitate targeted data sharing between telecommunication firms and banks.&nbsp;

Notably, Dialog’s systems were completely independent of Optus, said the &nbsp;Singapore-based telecom firm and assured that there was no evidence of any link between the two incidents of data breaches.&nbsp; 
 
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On Monday, Singapore Telecommunications Ltd indicated that its Dialog has faced another cyber attack potentially affecting 1,000 current and former employees. However, less than 20 clients have been affected, this attack comes weeks after another Australia unit – Optus – faced a massive data breach.

On Monday, Singapore Telecommunications Ltd indicated that its Dialog has faced another cyber attack potentially affecting 1,000 current and former employees. However, less than 20 clients have been affected, this attack comes weeks after another Australia unit – Optus – faced a massive data breach. Singtel said on Monday that the attack on Dialog, an Australia-based information technology services consulting firm, was first detected a month ago (September 10). Since then the shares of the company were down 1.6% at 0845 IST, said a report by Reuters. It added that last week Dialog realised “a very small sample" of its data has been published on the dark web. This included some employees' personal information. ALSO WATCH: World Business Watch: Singtel's Dialog unit faces cyber attack weeks after Optus data breach On the other hand, Australia’s second-largest mobile operator, Optus faced a data breach late last month, compromising the data of at least 10 million customers. Subsequently, this triggered an overhaul of customer privacy rules to facilitate targeted data sharing between telecommunication firms and banks. Notably, Dialog’s systems were completely independent of Optus, said the Singapore-based telecom firm and assured that there was no evidence of any link between the two incidents of data breaches. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Report: Another Singtel unit ‘Dialog’ faces cyberattack weeks after Optus data breach

Singapore Telecommunications Ltd is investing a total of $1.8 billion to increase its stakes in the top mobile operators of Thailand and India as part of its strategy to boost exposure to emerging markets. 
 
&quot;Thailand, India and Africa continue to be attractive, high-growth markets for us,&quot; Singtel&#39;s group CEO, Chua Sock Koong, said in a statement on today. 
 
SingTel has built a portfolio of stakes in regional mobile associates as it hunts for growth outside its small and mature home market of Singapore. 
 
SingTel said it had entered into conditional shares purchases with state investor Temasek Holdings to acquire 21 per cent of Thai telecoms firm Intouch Holdings. Intouch is the largest shareholder in Advanced Info Services, the country&#39;s biggest mobile operator, in which SingTel currently holds 23.3 per cent. 
 
It will also acquire 7.39 per cent of India&#39;s Bharti Telecom Ltd, the holding company of Bharti AirTel Ltd, the country&#39;s largest telecoms firm and SingTel&#39;s existing partner. 
 
The transactions will be funded through internal cash, short-term debt and proceeds from a share placement of 386 million new Singtel shares to Temasek totalling S$1.605 billion. 
 
Singtel, 51.1 per cent owned by Temasek, said the acquisitions and share placement are interdependent and have to close at the same time. 
 
(Reters)

SingTel said it plans to acquire 21 per cent of a Thai telecoms firm and will also acquire 7.39 per cent of India's Bharti Telecom

Singapore Telecommunications Ltd is investing a total of $1.8 billion to increase its stakes in the top mobile operators of Thailand and India as part of its strategy to boost exposure to emerging markets. "Thailand, India and Africa continue to be attractive, high-growth markets for us," Singtel's group CEO, Chua Sock Koong, said in a statement on today. SingTel has built a portfolio of stakes in regional mobile associates as it hunts for growth outside its small and mature home market of Singapore. SingTel said it had entered into conditional shares purchases with state investor Temasek Holdings to acquire 21 per cent of Thai telecoms firm Intouch Holdings. Intouch is the largest shareholder in Advanced Info Services, the country's biggest mobile operator, in which SingTel currently holds 23.3 per cent. It will also acquire 7.39 per cent of India's Bharti Telecom Ltd, the holding company of Bharti AirTel Ltd, the country's largest telecoms firm and SingTel's existing partner. The transactions will be funded through internal cash, short-term debt and proceeds from a share placement of 386 million new Singtel shares to Temasek totalling S$1.605 billion. Singtel, 51.1 per cent owned by Temasek, said the acquisitions and share placement are interdependent and have to close at the same time. (Reters)

SingTel to invest $1.8 billion to raise stakes in Indian, Thai mobile operators

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