SingTel’s free cash flow maintained at 2004 levels

14 Sep 2005

Singapore Telecommunications (SingTel) says it aims to generate free cash flow levels of SGD1.5 billion (USD892.27 million) for its current fiscal year to 31 March 2006, roughly the same as the figure reported last year. According to SingTel president and CEO Lee Hsien Yang the company is successfully maintaining cash flow levels despite fierce price competition in the region which, in particular, is affecting growth in Australia where its Optus unit is struggling to defend its mobile market share and grow its fixed line business. Speaking at an investor forum in Hong Kong yesterday, Lee said SingTel planned to deliver double-digit earnings growth in the medium term, largely on the back of the group’s regional mobile associates which are currently driving strong earnings.

Singapore, Singtel Group