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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.
SHARES of Singapore Telecommunications (Singtel) fell as much as 3.3% on Monday to a more than one-week low after it forecast non-cash impairment provisions of S$3.1 billion ($2.28 billion) for the second half of 2024.