It appears that Optus bosses are punting on Donald Trump to help them out, after Singtel report a 42% slump in profits.

The head of Singapore Telecommunications Group CEO Yuen Kuan Moon claims that the incoming Donald Trump administration in the U.S. could bring “new opportunities” for their business as companies potentially shift their operations or investments into the Asia Pacific region.

Recently appointed Optus chief executive Stephen Rue says he will draw on a decade of experience running the national broadband network to improve customer service and reset the telco group after a tumultuous two years.

Singtel Group CEO Yuen Kuan Moon, left, speaks during an earnings briefing in Singapore last night.

When Optus had their network meltdown which was caused by a Singtel upgrade the SingTel board was meeting in Australia.

On Wednesday, Singtel reported its net profit down 42% to US $917 million for the April-September half.

The business upgraded its earnings before interest and tax (EBIT) for the fiscal year ending March to grow by “low double digits,” narrowing the guidance from the previously projected growth range of “high single” to “low double” digits.

For the six months ended September, robust growth of its Australian subsidiary Optus and digital services arm NCS helped the group log an EBIT of SG$738 million, up 27% from the same period a year ago.

Moon said that despite a “very volatile” and “uncertain” business environment, the Singaporean telecom is ready to help global enterprises connect in Southeast Asia and beyond, leveraging its wide global carrier network.

locally Optus benefited from higher mobile service revenue, price increases and better cost management, while the NCS segment reported strong demand for its services, the company said.

EBIT for Optus surged 58% for the half-year while the NCS segment’s EBIT jumped 40%.

“Optus is benefiting from Telstra’s 4-5% (price) hike in July 2024. NCS also benefits from growth in its Gov+ and Telco+ businesses, and cost-reduction efforts,” said Sachin Mittal, global head of telecom, media and tech research at DBS Bank.

Rue’s predecessor, Kelly Bayer Rosmarin, resigned following a national network outage and a Greens-chaired Senate inquiry that found the company’s response “stretches credibility”.

Mr Rue said telecommunications companies faced challenges in combining commercial pressures with customers suffering a period of tight household budgets.