AFP
SINGAPORE (AFP) — Singapore Telecommunications (SingTel), Southeast Asia's largest telecoms firm, Tuesday reported a 16.1 percent fall in third-quarter net profit but said currency depreciation weighed on earnings.
SingTel said its performance was strong in Singapore and in Australia, but some of its regional mobile associates in Indonesia, the Philippines and Pakistan were weaker.
"The global economic slowdown has started to impact the group," added the company, which is majority-owned by Singapore sovereign wealth fund Temasek Holdings.
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