“We have to be prepared for the worst if it doesn’t recover as expected” by the middle of the year, Yuen said in an interview this week. Singapore accounts for about 38% of the group’s revenue.
SINGAPORE (Feb 28): Singapore Telecommunications Ltd, which is bracing for a second year of profit decline, expects the government’s stimulus measures will help cushion the impact of the coronavirus outbreak on its business in the city-state.
Singapore last week unveiled its most expansionary budget since at least 1997 to shore up the $364 billion economy after lowering the growth outlook. That support could help the wireless carrier cope with any drop in consumption of its roaming and pre-paid services on the island, said Yuen Kuan Moon, the firm’s chief executive officer for Singapore consumers, as people curtail travel and spending.
