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Asian Pay Tv Tr
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pkli899
Supreme |
19-Aug-2024 11:00
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Got start meh? Any catalyst? |
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eric998
Supreme |
19-Aug-2024 10:17
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Engine started? | ||||
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eric998
Supreme |
16-Aug-2024 18:26
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KEY HIGHLIGHTS Revenue and EBITDA at $62.4 million1 and $36.0 million for the quarter, and $125.8 million and $74.2 million for the half-year EBITDA margin at 57.8% for the quarter and 59.0% for the half-year Focused Broadband subscriber acquisition led to continued Broadband revenue improvement in both S$ and NT$ recorded c.10,000 new Broadband subscribers &ndash the highest over the past 10 quarters Total subscriber base increased by c.13,000 to c.1,332,000 as at 30 June 2024, driven by Premium digital TV and Broadband Capital expenditure within industry norms at 14.6% for the quarter and 14.8% for the half-year Net debt repayments of $26 million made during the first half-year total net debt repayments for full year 2024 expected to be approximately $40 million Around 90% of outstanding Onshore Facilities (equivalent to 83% of the Group&rsquo s total debt) are hedged through to 30 June 2025 net exposure to rising interest rates today is contained to only 17% of total outstanding debt Discussions with lenders are underway to refinance both Onshore and Offshore facilities, with an aim to lower cost of debt Distribution of 0.525 cents per unit declared for the half-year, re-affirmed distribution guidance of 1.05 cents per unit for the full year 2024, subject to no material changes in planning assumptions nice dividends, but need to watch their debt-management. Started to have volume for trading. Once clear 80, possible to move to 86, then close gap till 90. Just my dreams. Hope BBs support my dreams come true. HUAT ah! |
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Alignment
Elite |
21-Jul-2024 08:48
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Alamak. What a disaster. Like shuffling the deck chairs on the Titanic.Share price sinking like the Titanic too. |
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Joelton
Supreme |
06-Jul-2024 13:20
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Trustee-manager of Asian Pay TV Trust announces board renewal appoints new CEO
Current CEO Brian McKinley will be succeeded by CFO Somnath Adak
THE trustee-manager of mainboard-listed Asian Pay Television Trust (APTT) on Friday (Jul 5) announced a major renewal of its board, with chief executive Brian McKinley to step down from his role on Jul 31.
He will be succeeded by chief financial officer Somnath Adak, who will become the new CEO from Aug 1. McKinley will also step down from the board from Jul 15 but will continue to support the trustee-manager as a consultant.
Both McKinley and Adak assumed their roles as CEO and CFO of APTT respectively in 2017.
The trustee-manager said: &ldquo Under their stewardship, APTT has navigated unprecedented times in Taiwan&rsquo s competitive telecommunications market, strengthening its balance sheet and debt management.&rdquo
With reduced debt levels and a stronger balance sheet, trustee-manager board chair Yong Lum Sung said APTT &ldquo is now in a stronger position to navigate an increasingly challenging and competitive environment&rdquo as compared to 2017.
He noted that APTT has also registered consistent broadband growth over the last few years, which has cushioned the impact of a declining cable TV business.
Added Yong: &ldquo While we regret that Mr McKinley will be stepping down, we are confident that Mr Adak will continue his predecessor&rsquo s good work and lead the trustee-manager as the new CEO. Mr Adak&rsquo s appointment reflects the trustee-manager&rsquo s effective succession planning.&rdquo
Annie Koh will take over Adak&rsquo s CFO duties and will be appointed financial controller of the trustee-manager with effect from Aug 1.
Koh is a chartered accountant of the Institute of Singapore Chartered Accountants and has 17 years of finance, banking and audit experience. She was formerly chief operating officer for the audit division of KPMG Singapore, managing mid-sized audits.
The trustee-manager said she will work closely with Miranda Cheng, CFO of the Taiwan Broadband Communications Group, which is APTT&rsquo s sole investment. Cheng, who has over 20 years of experience with the Taiwan Broadband Communications Group, will provide strategic financial insights to the trustee-manager.
As part of the trustee-manager&rsquo s board renewal process, three independent directors will be stepping down from the board with effect from Jul 15. They are Joanna Ong Joo Mien, Richard Tan Chung Yaw and Leong Shin Loong.
Stephen Ho Chiming and Calvin Zhang will be appointed as independent directors to the trustee-manager board with effect from Jul 15.
Both Ho and Zhang bring extensive telecommunications, media and technology sector and banking expertise to the board, said the trustee-manager.
Ho currently serves as independent director at three companies: Azeus Systems, Valuetronics and ceEntek. He was previously a managing director at DBS Bank in Singapore, Hong Kong, and Taiwan between 2001 and 2019.
Zhang is currently managing director at ApaH Capital, a hedge fund seeded by Blackstone Capital. Prior to this, he was managing director at Bank of America Merrill Lynch and JPMorgan, where he was head of Asia Pacific Telecom & Media. He also spearheaded the technology, media and telecommunications corporate finance advisory practice at McKinsey & Company in Hong Kong.
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pkli899
Supreme |
24-Jun-2024 10:38
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Thank you for sharing, cmengchan.
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cmengchan
Senior |
22-Jun-2024 16:09
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Unsure if related, but there is usually unusual trading volatility on triple witching days.
WHAT IS TRIPLE WITCHING?In the context of financial markets, " triple witching" refers to a specific event that occurs on the third Friday of certain months, typically March, June, September, and December.
During triple witching events, three different types of financial derivatives contracts&mdash stock options, stock index futures, and stock index options&mdash all expire on the same day. This convergence of multiple expirations can lead to increased trading activity and volatility in the financial markets. As a result of increased market volatility, triple witching events can sometimes create opportunities for vigilant investors and traders. But due to heightened volatility, triple witching events are also arguably riskier than other expirations. As such, market participants should be aware of triple witching to ensure they are prepared for possible high-magnitude moves, and manage their portfolios accordingly.
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cmengchan
Senior |
22-Jun-2024 16:01
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I think Manulife REIT has the same sold down pattern too.
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pkli899
Supreme |
22-Jun-2024 14:28
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Whole day trades value was $38m. From 5 to 5.16pm, another $19m done! Just to keep price in check? Above was what I posted at YZJ' s thread. |
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pkli899
Supreme |
22-Jun-2024 14:25
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Actually APTT was not the only counter that was sold down during matching. DBS $80m done during normal trading hour. Another $111m done during matching and brought the price down a few cents. YZJSB also had significant volume done after normal trading hour.
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lawrence83
Senior |
22-Jun-2024 10:08
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Seem like stock price had drop significantly almost 30% from a year ago. Do we know if this company in huge trouble as someone seem dumping huge shares even dvidiend yield is 14% ? I am thinking to sell rather than lose everything. | ||||
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cmengchan
Senior |
21-Jun-2024 20:37
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Seems like there is a major sell down on closing time. $0.075 price, approx 1854200 shares matched after 5pm close time. Thats estimated to be 68.4% of the total volume today. Some negative news or a major holder is exiting the counter? | ||||
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Joelton
Supreme |
25-Mar-2024 10:07
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Asian Pay Television Trust
On Mar 20, Brian McKinley, CEO of the trustee-manager of Asian Pay Television Trust : S7OU -3.57% (APTT), acquired 588,200 units of APTT at S$0.085 per unit. With a consideration of S$49,997, this increased his direct interest in APTT from 0.24 per cent to 0.28 per cent.
In February, McKinley highlighted that the modest increase in real total revenue was encouraging in FY23 (ended Dec 31), reflecting a higher contribution from broadband, with new subscribers and higher average revenue per user.
He added that over 25 per cent of total revenue is now generated from broadband, compared to 22 per cent in FY22. McKinley noted that while the trend cannot be assumed to continue, the growth in total revenue signals that broadband is at least starting to cushion the impact of the decline in its basic cable TV business.
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cmengchan
Senior |
21-Mar-2024 20:28
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Yes, I think the CEO bought more after dividend ex-date. I think DYH owns Da Da Digital, and with the latest court ruling, it might make sense to acquire indirect interest in APTT instead of buying direct.
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pkli899
Supreme |
21-Mar-2024 20:05
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CEO bought again, topping up his holding to 5m units, at 8.5c. The rest of the directors no action? Especially DYH. He no longer active in buying up. |
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cmengchan
Senior |
05-Mar-2024 22:09
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The CEO Brian McKinley acquired 1196100 shares at $0.089 each, worth $106K on 4-Mar. | ||||
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pkli899
Supreme |
04-Mar-2024 11:05
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Yes, based on current price & dividend, as well as projected DPU for 2024, yield is very good. However, despite growth in broadband business, revenue is stagnant. This is because other sectors are not doing well. Broadband sector needs to grow much more in order to compensate for the lost in revenue from other parts of their business. They mentioned previously they had set aside about $60m+ for debt repayment but ended up only paid 49m. This time again they mentioned $60m+ to be used this year for repayment. We shall see whether it can be fulfilled. The reduced in repayment had somewhat affected the progress in cutting down loans, especially the offshore ones. With current high interest rate, the quicker they reduce it the more saving. I am not so worry about their onshore loans, as interest rate is relatively low and mostly hedged. In addition, the impairment write down is alarming. So huge was the sum that we see NAV dropping from 60c+ to 38c+! Is this a tactic for the major shareholder to go for an easier takeover? Depress price, couple with big drop in value, will made whoever want to buy over pay much less now. Recently we also don&rsquo t see Dai Yung Huei buying. Earlier last year he was very active in buying. Will we see buying from insiders again? |
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cmengchan
Senior |
02-Mar-2024 17:53
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Management expects to pay 1.05 cents dividend again in FY2024. Based on current share price of $0.087, the dividend yield is 12%. | ||||
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Joelton
Supreme |
02-Mar-2024 14:04
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Asian Pay Television Trust posts FY2023 net loss of $436.24 mil from $440 mil impairment loss
Asian Pay Television Trust (APTT) has reported net loss after tax of $436.24 million, mainly driven by an impairment loss of $440.0 million, for FY2023 ended Dec 31, 2023.
Earnings before interest, tax, depreciation and amortisation (ebitda), however, was 7.3% lower y-o-y to a profit of $38.15 million.
Revenue, meanwhile, fell 5.8% y-o-y to $65.40 million in FY2023, while total operating expenses grew 3.6% y-o-y to $27.25 million.
APTT has an investment mandate to acquire controlling interests in and to own, operate and maintain mature, cash-generative pay-TV and broadband businesses in Taiwan, Hong Kong, Japan and Singapore.
In a Feb 29 announcement, management says the group conducted an annual impairment assessment for FY2023. Its external auditors worked with their internal valuation specialists to perform an independent review of the valuation methodology and assumptions like discount rate and terminal value used in the forecast cash flows based on the discounted cash flow model prepared by the Trustee-Manager for the purpose of the impairment assessment.
Given current exchange rates, elevated interest rates and the challenging business environment noted above, the recoverable amount of cable TV licences has reduced, and as a result, an impairment loss of $440 million was recorded by the group in the consolidated statement for FY2023.
The Board of Directors of the Trustee-Manager has declared an ordinary distribution of 0.525 cents per unit for 2HFY2023, bringing total distributions for the year to 1.05 cents per unit.
The Board expects this to remain unchanged in 2024.
Brian McKinley, chief executive officer of the Trustee-Manager, says: &ldquo Our 2024 distribution guidance takes into account the elevated interest rates and a weaker NT$ against SGD. We are confident that at this distribution level, our strong cash flows can still support disciplined debt repayments and fund capital expenditure to future-proof our broadband business.&rdquo
Cash and cash equivalents at the group level decreased from $118.9 million as at Dec 31, 2022 to $91.9 million as at Dec 31, 2023. The decrease was primarily due to the payment of distributions to unitholders, capital expenditure, interest payments and principal repayments during the year.
The Trustee-Manager will reserve approximately $65 million for scheduled principal repayments on its onshore and offshore borrowing facilities in the next 12 months.
APTT&rsquo s total outstanding debt comprises 92% onshore facilities and 8% offshore facilities. Approximately 90% of outstanding onshore facilities are hedged through to June 30, 2025, while the offshore facilities are not hedged. This means that approximately 83% of APTT&rsquo s total outstanding debt is protected against the risk of rising interest rates through to 2025.
While the Trustee-Manager does not expect growth in Basic cable TV subscriptions due to Taiwan&rsquo s saturated cable TV market, they expect the number of Premium digital cable TV and Broadband subscriptions to continue increasing in 2024.
Total revenue will, however, be influenced by the ability to maintain average revenue per user (ARPU), which will remain under pressure due to market dynamics, says management. &ldquo The decline in demand for home shopping and competition from internet retailing will continue to impact channel leasing revenue. The Trustee-Manager is managing every expense line item very closely. Total operating expenses in 2024 are expected to be in line with 2023.&rdquo
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cmengchan
Senior |
14-Feb-2024 22:05
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I believe Da Da Digital had intended to acquired 65% indirect interest in APPT. However, NCC rejected the proposal. Looks like the court now says NCC did not have the authorization to do that. See related news dated 14 Jul 2021. https://investor.aptt.sg/newsroom/20210714_180716_S7OU_W6SZ2B643IVU0Y30.1.pdf Singapore &ndash 14 July 2021 APTT Management Pte. Limited, the Trustee-Manager of Asian Pay Television Trust (&ldquo APTT&rdquo or the &ldquo Trust&rdquo ), refers to the announcement dated 11 February 2020. The Trustee-Manager today announces that the proposed transaction for Da Da Digital Convergence Co., Ltd. (&ldquo Da Da Digital&rdquo ) to acquire a 65% stake in its sole shareholder, Dynami Vision Pte. Ltd. (&ldquo Dynami&rdquo ) has been rejected by the National Communications Commission of Taiwan (&ldquo NCC&rdquo ) in a press announcement today. The NCC&rsquo s decision will not have an impact on the operations and cash flows of APTT or TBC, nor the distribution guidance of 1.0 Singapore cent per unit for 2021.
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