(Telecompaper) Singtel saw strong EBIT growth of 27 percent year-on-year to SGD 738 million in fiscal first half to September...

Singapore Telecommunications (SingTel) reported a 42 per cent fall in its half-year profit on Wednesday (Nov 13), as the firm was hurt by the absense of S$1.2 billion it had logged through the divestiture of Telkomsel shares in its prior corresponding period. Last year, Telkomsel, the Indonesian associate of Southeast Asia's largest telecom firm, agreed to merge with its parent's IndiHome broadband arm in an effort to expand into Indonesia's fixed broadband market. SingTel's Australian unit Optus, currently embroiled in a legal battle with the country's competition watchdog, reported operating revenue of A$4.02 billion (S$3.51 billion) during the six months, in line with A$4.02 billion reported a year ago. "Optus and NCS drove the positive momentum, underscoring our focus on execution and operating rigour," the group's Chief Executive Officer Yuen Kuan Moon said. Southeast Asia's largest telecom firm said net profit for the six months ended Sept. 30 was S$1.23 billion, as compared to S$2.14 billion last year and missing a Visible Alpha estimate of S$1.37 billion.

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A Grab-Singtel joint venture has roped in former Citigroup executive Charles Wong as its senior managing director while AIA Singapore has named Wong Sze Keed as its new CEO. Grab-Singtel joint venture hires Citigroup’s former retail banking head A Grab–Singtel joint venture, which is in the fray for a digital

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