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Is it time for Singtel shareholders to reap the rewards of its strategic reset?

Lim Hui Jie
Lim Hui Jie6/2/2022 09:31 PM GMT+08  • 8 min read
Is it time for Singtel shareholders to reap the rewards of its strategic reset?
After a few years of downward earnings, could Singtel, led by CEO Yuen Kuan Moon (above) turn around with its strategic reset? (Photo: Albert Chua/The Edge Singapore)
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A turnaround may be on cards for Sin­gapore Telecommunications (Sing­tel). In FY2022 ended March, despite lower revenue of $15.34 billion, the telco reported higher earnings of $1.95 billion due to an exceptional gain from divestments.

In FY2021, Singtel was forced to write down the value of digital advertising platform Amo­bee, which according to CFO Arthur Lang, is poised for sale. Another underperforming unit, cybersecurity brand Trustwave has effective­ly been cut up and parts still deemed of val­ue absorbed.

More importantly, Singtel is seeing operation­al improvements or as group CEO Yuen Kuan Moon calls “solid performances” — thanks to its network of overseas mobile associates like Bharti Airtel in India. In total, the overseas as­sociates improved their pre-tax earnings contri­butions by 21% y-o-y to $2.07 billion.

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