FIBRE optic cable owner NetLink NBN Trust : CJLU +0.6% posted a distribution per unit of S$0.0265 for the half year ended Sep 30, 2023, a slight 1.1 per cent higher from S$0.0262 a year ago.

 

This came even as profit fell 3.1 per cent to S$52.9 million in H1, from S$54.6 million the previous year.

 

The decline in profit was primarily due to higher finance costs, depreciation and amortisation, and income tax expenses, NetLink&rsquo s trustee-manager said in a bourse filing on Friday (Nov 3).

 

Net finance costs, for instance, surged by 30.2 per cent to S$9.2 million in H1. Income tax expenses was S$563,000, reversing from a credit of S$841,000 a year prior. 

 

Meanwhile, revenue inched up 2.9 per cent year on year &ndash or S$5.7 million &ndash to S$205.3 million. 

 

Of the revenue increase, S$4.1 million came from regulated base (RAB) revenue, on the back of higher residential, non-residential, non-building address points (NBAP) and segment connections orders.

The remaining S$1.6 million came from non-RAB revenue, mainly contributed by installation-related and central office segments. 

 

Overall, the trustee-manager highlighted that NetLink&rsquo s balance sheet and liquidity remain strong, underpinned by &ldquo stable cash flows and access to financial resources to support future capital expenditure&rdquo . 

 

&ldquo Notwithstanding the increased funding and operation costs, the group expects to maintain its distribution to unitholders,&rdquo it added. 

 

The manager noted that NetLink is well-positioned to benefit from the government&rsquo s plans to develop &ldquo future-ready broadband, mobile and Wi-Fi infrastructure&rdquo . 

 

&ldquo We will provide our expertise and infrastructure to support (this)&hellip and continue to explore opportunities to invest in telecommunication infrastructure businesses overseas to broaden our portfolio.&rdquo  

 

NETLINK NBN Trust said on Wednesday (Oct 25) that it had experienced a &ldquo cybersecurity incident&rdquo recently.

 

The incident did not affect fibre broadband connectivity, it added.

 

When contacted by The Business Times, the company would only refer to its announcement posted on the Singapore Exchange, which said that an analysis of the incident was ongoing, and that updates would be provided if there were material developments.

 

In its bourse announcement, the trust said it had taken immediate steps to contain and isolate the incident upon detection. It also engaged external cybersecurity experts to assist with the investigation and recovery.

 

The group has also notified the Cyber Security Agency of Singapore and the Info-communications Media Development Authority.

 

&ldquo Based on the information available to date, the incident has not had any material financial impact or caused any major disruptions to the group&rsquo s business,&rdquo it added.