Singtel shares fell as much as 3.3 per cent on April 29 to a more than one-week low after it forecast noncash impairment provisions of $3.1 billion for the second half of its 2024 financial year.
The impairment impairment provisions would lead to the telecoms giant reporting a net loss for the second half and a lower net profit for the full-year ended March 31, it said in a filing to the Singapore Exchange before trading began.
Singtel shares fell sharply on the news, with the counter closing down 6 cents or 2.5 per cent at $2.35 on April 29. It was the second most traded counter by volume, behind Seatrium, with 95.6 million shares changing hands.
Singtel said the impairment provisions will not impact its payment of dividends. "Singtel is on track to pay at the upper end of its dividend policy for the financial year ended 31 March, 2024," it said in the filing.
This story is from the April 30, 2024 edition of The Straits Times.
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This story is from the April 30, 2024 edition of The Straits Times.
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