Singapore Telecommunications Limited (SGAPY)
- Reuters
Singtel-owned Optus taps Rue as CEO to restore strategy and trust
(Reuters) -Singapore Telecommunications-owned Optus said on Monday it had appointed Stephen Rue to lead the Australian phone carrier replacing former boss Kelly Bayer Rosmarin, who resigned in November post a nation-wide network outage last year. Rue has been running Australia's National Broadband Network (NBN) since 2018 and will now takeover as Optus CEO, as the firm seeks to reset its strategy and rebuild customer trust.
- Bloomberg
Singtel’s Optus Names Rue as CEO as It Seeks to Rebuild Trust
(Bloomberg) -- Singapore Telecommunications Ltd.’s Australian phone carrier Optus appointed Stephen Rue as chief executive officer with effect from November, it said in a bourse filing Monday. Most Read from BloombergIsrael Says a Cease-Fire Plan Backed by Hamas Falls Far ShortAt $2 Million Per Minute, Treasuries Mint Cash Like Never BeforeJack Dorsey Leaves Bluesky Board, Calls X ‘Freedom Technology’Ex-Trump Controller Says Cohen Repaid From Personal AccountS&P 500 Extends Gains in Final Minute
- Reuters
Singtel falls up to 3% after $2.3 billion impairment
The impairment provisions would lead to the telecom giant reporting a net loss for the second-half period and a lower net profit for the full-year ended March 31, 2024, according to Singtel. Shares of Singtel were down 2.5% during Monday midday at S$2.35 per share, underperforming the broader benchmark stock index's 0.2% decline. "Singtel highlighted that this won't impact its dividend which is based on 70% to 90% of the underlying net income while the non-cash impairment charges will be booked as one offs," Maybank Research analyst Hussaini Saifee wrote in a research note on Monday.
