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As a telecommunication company in Singapore, Singtel has to strictly conform to the Data Protection Policy given by the government of Singapore, along with all the business regulations in the country.
Economy:
A stronger economy ensures greater mobility of all sectors in the country which indicates rise in communication and that results in profit for Singtel and vice-versa.
Technology:
The latest data packet transmission technologies like 3G and 4G hugely affects Singtels operations and profit. Currently they are trying to promote themselves to 5G in collaboration with Ericsson.
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