Singtel’s half-year net profit falls 42%

Singapore Telecommunications ( Singtel ) reported a 42 % decrease in its half-year profit on Wednesday ( Nov 13 ), as a result of the company’s depletion of the$ 1.2 billion ( US$ 89 million ) it had incurred as a result of the company’s divestiture of Telkomsel shares in its prior corresponding period.

Last month, Telkomsel, the Indonesian relate of Southeast Asia’s largest telecoms agency, agreed to merge with its family’s IndiHome broadband arm in an effort to develop into Indonesia’s set broadband market.

SingTel’s Australian unit Optus, currently embroiled in a legal battle with the country’s competition watchdog, reported operating revenue of A$ 4.02 billion ( US$ 2.62 billion ) during the six months, in line with A$ 4.02 billion reported a year ago.

According to the group’s chief executive officer, Yuen Kuan Moon,” Optus and NCS helped to drive the good speed, underscoring our emphasis on murder and operating rigour.”

Southeast Asia’s largest telecoms company said net income for the six month ended Sep 30 was S$ 1.23 billion, as compared to S$ 2.14 billion last year and missing a Visible Alpha measure of S$ 1.37 billion. &nbsp,

The company declared a 7 Singapore cents per share time payout, a higher dividend than the previous year’s 5,2 Singapore cents per share announcement.