Singtel Projects Major Non-Cash Impairments

Singapore Telecommunications (SG:Z74) has released an update.

Singapore Telecommunications Limited (Singtel) has announced expected non-cash impairment provisions totaling S$3.1 billion, which will not affect dividend payments or the underlying net profit for the fiscal year ending March 31, 2024. These provisions include a S$470 million impairment for Optus’s enterprise fixed assets in Australia, a S$2 billion impairment on Optus’s goodwill, and further impairments for its Asia Pacific cyber security business and NCS Australia. Singtel anticipates reporting a net loss for the second half-year and a reduced net profit for the full year.

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