Singtel had released its 3QFY20 financial results on 13 February 2020. The financial results are not so rosey, with operating revenue declining 5% to S$4.38 billion due to lower equipment sales, weak business sentiment and spending, continued price erosion in carriage services and heightened market competition. Net Profit After Tax was down by 24% to S$627 million due mainly to the weakness in the enterprise business, the impact of the final settlement of a gain on the Airtel Africa pre-IPO investment and lower exceptional gains. 3QFY20 (S$ Mil) 3QFY19 (S$ Mil) % Change Operating Revenue 4,378.3 4,626.1 (5%) Net Profit After Tax 627.2 822.8 (24%) As shared previously, 48% of Singtel’s net profit comes from its regional associates. I am glad that Profit Before Tax from its Regional Associates increased 15% to S$393 million. This was driven by strong data growth across all markets. Airtel’s losses narrowed, on the...