Singapore Telecommunications Limited (SNGNF)
- Reuters
SingTel annual profit more than halves on $2.3 billion impairment hit
(Reuters) -Singapore Telecommunications' annual net profit more than halved on Thursday, hit by a previously announced S$3.1 billion ($2.30 billion) impairment charge, most of which relates to its Australian unit Optus. Optus, Australia's No.2 telecom operator, has been one of Singtel's biggest investments overseas but it has recently drawn public ire over court cases amid a cyber attack in 2022, a massive network outage and falling carriage revenue on increased costs. The S$3.1 billion charge includes a S$2 billion provision on goodwill of Optus while S$470 million relates to Optus' enterprise fixed access network assets.
- Reuters
Australia takes Singtel-owned Optus to court over 2022 cyber attack
Australia's No.2 telco, had in September 2022 faced a massive data breach which exposed customers' personal information, including home addresses, passport and phone numbers. Following the incident, the country's Prime Minister Anthony Albanese called for tougher privacy rules to force companies to notify banks faster when they experience similar data breaches. About 10 million Australians, 40% of the population, are Optus customers and could not use smartphones, broadband internet or landlines for much of the day of the breach.
- Bloomberg
Singtel’s Optus Names Rue as CEO as It Seeks to Rebuild Trust
(Bloomberg) -- Singapore Telecommunications Ltd.’s Australian phone carrier Optus appointed Stephen Rue as chief executive officer with effect from November, it said in a bourse filing Monday. Most Read from BloombergTrump Judge Indefinitely Postpones Documents Case TrialAmericans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t TrackOne Out of Every 24 New York City Residents Is Now a MillionaireFTX Has Billions More Than Needed to Pay Bankruptcy VictimsRue has been CEO of Australia’s Natio
