Singtel profit falls pressured by Australian business

SINGAPORE (Nikkei Markets) -- Singapore Telecommunications posted a drop in third-quarter earnings and said it is taking a hit from lower roaming revenues as overseas travel declines due to the outbreak of the novel coronavirus in China and the region.

However, the Australian enterprise business, which serves governments and companies, was the biggest drag in the last quarter. Singtel has cut prices in that country to maintain market share as demand for voice and other traditional telecommunication services continues to fall.