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Singtel Sees Singapore Budget Stimulus Softening Virus Blow

  • Wireless carrier headed for a second year of profit decline
  • Singapore is stepping up spending to bolster economy
Images Of Mobile Phone Carriers And Users As MyRepublic Seeks To Become Nation's Fourth Provider

Photographer: Nicky Loh/Bloomberg

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Singapore Telecommunications Ltd., which is bracing for a second year of profit decline, expects the government’s stimulus measures will help cushion the impact of the coronavirus outbreak on its business in the city-state.

Singapore last week unveiled its most expansionary budget since at least 1997 to shore up the $364 billion economy after lowering the growth outlook. That support could help the wireless carrier cope with any drop in consumption of its roaming and pre-paid services on the island, said Yuen Kuan Moon, the firm’s chief executive officer for Singapore consumers, as people curtail travel and spending.