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Singtel's profit down 5.6% on Asian associates' weak contribution

Bharti Airtel, Advanced Info Services profits fall after increased capex

Singtel Group CEO Chua Sock Koon, left, said the company was seeking merger and acquisition opportunities in the digital and cyber security spaces.

SINGAPORE -- Singapore Telecommunications profits took a hit in the previous quarter after increased capital expenditure on network capacity and spectrum acquisition, investments the company said were necessary to meet growing data communication needs in regional markets.

"This is still the investment stage", Singtel chief executive Chua Sock Koon told a Friday press conference. "We do expect growth of mobile data to continue. Therefore we expect uplift in network usage, or [average revenue per user], which would more than pay for investments we are making in network and spectrum."

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