SINGAPORE (AFP) ??” Singapore Telecommunications announced a stunning 188-percent slip back in net profits for the December quarter to 854 million Singapore dollars (505 million US).

SINGAPORE (AFP) ??” Singapore Telecommunications announced a stunning 188-percent slip back in net profits for the December quarter to 854 million Singapore dollars (505 million US), with the company's global expansion program the main development driver.

The performance of Southeast Asia's biggest telecommunications company far go beyonded analysts' forecasts of between 430 and 533 million Singapore dollars.

With overseas operations now accounting for 77 percent of SingTel's incomes a strong showing by wholly confessed Australian unit Optus and its four regional mobile associates were significant factors in the springs

An exceptional gain of 186 million Singapore dollars from the sale of long-term investments and foreign exchange gains, driven by way of the soaring Australian dollar, also boost third quarter earnings, the company said.

Operating rewards for the December quarter surpassed three billion Singapore dollars for the first time with a 159 percent leap from a year earlier to 302 billion