$2 billion of the total impairment provision originated from its Australian unit Optus’ goodwill.
– Singtel shares fell as much as 3.3 per cent on April 29 to a more than one-week low after it forecast non-cash impairment provisions of $3.1 billion for the second half of its 2024 financial year.
“Singtel highlighted that this won’t impact its dividend which is based on 70 per cent to 90 per cent of the underlying net income while the non-cash impairment charges will be booked as one-offs,” Maybank Research analyst Hussaini Saifee wrote in a research note on April 29.About $2 billion of the total impairment provision originated from its Australian unit Optus’ goodwill, Singtel said.following reports that talks for a potential stake divestment had fallen off.
Among other units, the Asia-Pacific cyber security business is expected to report non-cash impairment provision for goodwill of $340 million, with $280 million of the same expected from information technology service provider NCS Australia.In a separate announcement on April 29, Singtel said Optus and rival TPG Telecom have signed network sharing agreements to increase TPG’s coverage and cut capital spending.
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