I can see why Singtel’s share price has plunged as low as S$3.08 recently. According to Singtel’s latest quarter financial results, The associates’ post-tax profit contributions declined 23% mainly from Airtel and Telkomsel in Q2FY19. The contributions from the associates were also negatively impacted by the strong Singapore Dollar. As mentioned in My Personal Analysis of Singtel, 48% of Singtel’s net profit comes from its Regional Associates which consists of Airtel, AIS, Telkomsel and Globe. From the presentation slide from Singtel below, I can see that the two regional associates, Telkomsel, the indonesian Telco and India based Telco, Bharti contributed to the decline. There was a lack of information from Singtel about its Regional Associates earnings, thus I can only rely on what I read about from other sources such as analyst review and news coverage. According to what I read about, the contributions from Telkomsel is expected to slide between ...