Financial Year ended 31 March
2019
2018
Change
Change in constant currency (2)
(S$ million)
(S$ million)
(%)
(%)
Group share of associates' pre-tax proﬁts (3)
1,536
2,461
-37.6
-36.2
Share of post-tax proﬁts
Telkomsel
843
1,031
-18.3
-12.4
AIS
286
292
-1.7
-3.9
Globe (3)
- ordinary results
251
180
39.3
45.3
- exceptional items
-
22
nm
nm
251
202
23.9
29.1
Intouch (3) (4)
- operating results
101
106
-4.4
-6.5
- amortisation of acquired intangibles
(22)
(21)
8.3
5.9
79
86
-7.5
-9.5
Airtel (3)
(131)
101
nm
nm
BTL (5)
(40)
(18)
127.8
140.9
(171)
83
nm
nm
Regional associates (3)
1,287
1,694
-24.0
-21.5
NetLink NBN Trust/ NetLink Trust (6)
48
72
-32.9
-32.9
Other associates (3) (7)
47
57
-17.6
-17.6
Group share of associates’ post-tax proﬁts (3)
1,383
1,823
-24.1
-21.8

text: Management Discussion and Analysis
text: Associates
text: "nm" denotes not meaningful.
text: Notes: (1) Based on Singapore Financial Reporting Standards (International).
text: (2) Assuming constant exchange rates for the regional currencies (Indian Rupee, Indonesian Rupiah, Philippine Peso and Thai Baht) from FY 2018.
text: (3) Share of results excluded the Group’s share of the associates’ significant one-off items which have been classified as exceptional items of the Group.
text: (4) Singtel holds an equity interest of 21.0% in Intouch which has an equity interest of 40.5% in AIS.
text: (5) Bharti Telecom Limited (BTL) holds an equity interest of 50.1% in Airtel as at 31 March 2019. In BTL’s standalone books, its loss comprised mainly interest charges on its borrowings.
(5) Bharti Telecom Limited (BTL) holds an equity interest of 50.1% in Airtel as at 31 March 2019. In BTL’s standalone books, its loss comprised mainly interest charges on its borrowings.
text: (6) Singtel ceased to own units in NetLink Trust following the sale to NetLink NBN Trust in July 2017 but continues to have an interest of 24.8% in NetLink NBN Trust, the holding company of NetLink Trust. The share of results included Singtel’s amortisation of deferred gain of S$20 million (FY 2018: S$32 million) on assets previously transferred to NetLink Trust, but excluded the fair value adjustments recorded by NetLink NBN Trust in respect of its acquisition of units in NetLink Trust.
text: (7) Include the share of results of Singapore Post Limited.

Questions:
question: Which financial reporting standards is this prepared based on?
answer: Singapore Financial Reporting Standards (International)
question: What is BTL's losses mainly comprised of?
answer: interest charges on its borrowings
question: Which associate's results was disclosed to be part of the line item "Other associates"?
answer: Singapore Post Limited
question: Which associate contributed the most significant amount to Singtel's group share of associates' post-tax profits for 2019?
answer: Telkomsel
derivation: S$843 million is the highest
question: What is the impact of tax on the group share of associates' profits in 2018, in terms of % change?
answer: -25.92
derivation: (1,823 - 2,461)/2,461 
scale: percent
question: Was the change in group share of associates' profits from 2018 to 2019 more significant pre-tax or post-tax?
answer: Pre-tax
derivation: | -37.6% | > | - 24.1% |