Digilife Technologies Limited (SG:BAI) has released an update.
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Digilife Technologies Limited’s subsidiary, PT Selular Media Infotama, has won the renewal of distribution contracts for five out of seven territories with major Indonesian telecom operator Telkomsel, despite a recent Distribution Restructuring. This change is expected to decrease the Group’s revenue and profitability for the financial year ending in December 2024, as the lost territories previously accounted for around 10% of their revenue. Cost reductions associated with the lost territories will accompany the revenue decline.
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