The exceptional charges booked comes as both businesses’ ability to scale have been affected by the Covid-19 pandemic as well as the fast-moving digital marketing and cyber security industries.
Singapore Telecommunications (Singtel) announced on May 14, that it expects to include net exceptional losses of $839 million and $1.21 billion for the 2HFY2021 and FY2021 ended March respectively.
While the figures are subject to finalisation, this includes the non-cash impairment charges of US$438 million ($589 million) and US$250 million against its investments in Amobee and Trustwave respectively for the 2HFY2021.
