Ann: Investor Presentation - Interim Financial Report, page-8

Thank you goosmurf. I do these as much for me - a reminder in a month's time as to what was said - as for others, but so many of us miss these briefings/calls yet often they're more valuable than PowerPoint presentations.

One other factor is that Singapore has not been immune from a downturn in trade and I assume employment levels due to the virus. Its airline for instance has a lot of idle staff, and has had to be bailed out by Temasek Holdings to the tune of about S$10 billion.

So arguably we are witnessing the Singaporean economy at a relatively low point. The phone briefing mentioned that overall (not just TUA) there used be more than nine million mobile subscribers in Singapore (as elsewhere, some individuals with multiple phones) but this has dropped to about 8.5 million, again symptomatic of tougher economic times (and a lower number of foreign workers in the small nation of Singapore).