---
title: "Singtel expects to report loss for 2024 second-half; flags $2.3 bln impairment"
description: "Singapore Telecommunications (Singtel) expects to report a net loss for the second half of fiscal year 2024, with impairment provisions of $2.3 billion. The company also warned of a lower net profit f"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/203019483.md"
published_at: "2024-04-28T22:26:13.000Z"
---

# Singtel expects to report loss for 2024 second-half; flags $2.3 bln impairment

> Singapore Telecommunications (Singtel) expects to report a net loss for the second half of fiscal year 2024, with impairment provisions of $2.3 billion. The company also warned of a lower net profit for the full year ended March 31, 2024. Singtel attributes the impairment provisions to Optus' goodwill and Optus itself expects impairment provisions of $470 million on its fixed access network assets. Singtel remains on track to pay dividends at the upper end of its policy.

April 29 (Reuters) - Singapore Telecommunications (STEL.SI) said on Monday it expects to report a net loss for second-half of fiscal year 2024, as it flagged exceptional non-cash impairment provisions of S$3.1 billion ($2.28 billion) for the period.

The company also warned that it would report a lower net profit for the full-year ended March 31, 2024.

About S$2 billion of the total impairment provision originates from its mobile network operation unit, Optus’ goodwill, Singtel, Southeast Asia’s largest telecom operator, said in its filing.

An “impending deal” for Optus was recently

ruled out

by Singtel following reports that talks for a potential stake divestment had fallen off.

Singtel added that Optus expects a non-cash impairment provisions of S$470 million on its enterprise fixed access network assets, mainly due to weaker prospects, increased cost of capital and a bleak macroeconomic outlook.

“Singtel is on track to pay at the upper end of its dividend policy for the financial year ended 31 March 2024,” the Singapore-based telecom giant said. ($1 = 1.3616 Singapore dollars)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.