Singapore - Singapore Telecommunications (SingTel), South-East Asia's leading communications group, posted a 16-per-cent drop in quarterly net profit on Tuesday, attributing the result mainly to the strength of the Singapore dollar against the major regional currencies of countries where it operates.

Net profit for the third quarter of the current fiscal year was 799 million Singapore dollars (532 million US dollars), compared to 952 million Singapore dollars for the same October-December period a year earlier, SingTel reported.

"The global economic slowdown has started to impact the group," SingTel chief executive Chua Sock Koong said in a statement.

SingTel's underlying net profit, in the third quarter fell 10 per cent to 838 million Singapore dollars, from 931 million Singapore dollars a year earlier.

The result had been negatively impacted by the weaker Australian dollar and other regional currencies, and lower operational performance of subsidiaries Indonesia's Telkomsel, Globe Telecom of the Philippines and Pakistan's Warid Telecom, SingTel said.

Singapore's largest listed company reported strong operational performance in Australia and Singapore in the third quarter with both countries posting double-digit revenue growth amid the slowing economic environment. SingTel owns Australia's number-two telecom firm Optus. (dpa)