Singapore Telecommunications (SingTel) on Thursday said the company may have to bare the brunt of further macro-economic challenges that are expected to persist into fiscal 2023 despite posting a 23% jump in its first-half net profit.
On the back of challenges around high inflation and rising interest rates, the company emphasized that it is "well-positioned" to weather headwinds due to a stable financial position and cash generation.
SingTel said a provision of A$140 million ($89.99 million) has been made and recorded for Optus as an exceptional expense for external independent review, third-party credit monitoring services, and the replacement of identification documents where needed.
SingTel, which stated its net debt has reduced by nearly a third from a year earlier, declared an interim dividend of 4.6 Singapore cents per share coupled with a special dividend of 5.0 Singapore cents per share.
However, it ensured that the impairment does not affect the company's cash flow or performance.
Source: Investing.com
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