Published:
SingTel suffered $41m start-up loss from new digital business
Versus last quarter's $13m loss.
According to DBS, SingTel's losses in digital business and currency translation losses were key issues.
DBS highlights that Singapore’s underlying profit declined 5% y-o-y to S$282m due to S$41m start up loss from its new digital business (versus S$13m loss in 3Q13).
Here's more from DBS:
Associate’s underlying profit of S$387m was up 5% y-o-y but below our expectations as the Indian Rupee and the Indonesia Rupiah declined 11% and 9% y-o-y against Singapore Dollar respectively.
Meanwhile, strong earnings from Telkomosel, AIS and Globe offset Bharti’s weakness.
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