SINGAPORE (Nov 12): Barclays remains upbeat on Singapore Telecommunications after Southeast Asia's biggest telecom firm by revenue on Thursday reported flat earnings for its fiscal second quarter.

Net profit declined slightly to $1.03 billion dollars from $1.04 billion a year earlier, with SingTel citing currency headwinds as a challenge.

But Barclays points out in a research note that SingTel's results "appear largely in line with recurring profits and EBITDA at 48% and 50% of our full year estimates," and that it maintains its overweight rating.

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