SINGTEL REPORTS CURRENCY TRANSLATION GAIN OF $S118 MILLION FOR DECEMBER QUARTER
January 2nd 2008 06:31
Singapore Telecommunications Ltd, or SingTel reports that an exceptional realised currency translation gain, net of hedging, of S$118 million (A$93 million) will be recorded in the quarter ending December 31, 2007.
This translation gain arose from SingTel Australia Investment Ltd reducing its Australian dollar denominated share capital by A$323 million after receiving interest paid by Singapore Telecom Australia Investments Pty Ltd.
The translation gain represents the difference between the amount of share capital returned by SingTel Australia Investment and the historical cost of investment in Singapore dollar terms by its shareholders.
- From MediaBlab
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