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161-180 of 4157
DYH made another 5 purchases totally 1.8803m units.
DYH bought 1.3464 m units thru 4 transactions.
High time insider do something to stop the fall.
High time insider do something to stop the fall.
103/104 broken.. hope don' t go to 1c.. so tempting to short but risk is halt and suspension.. watching... HUAT> >
Maybe follow Taiwan market plunge
Index plunged 4.35%
Since their ops over at Taiwan
Index plunged 4.35%
Since their ops over at Taiwan
lawrence83 ( Date: 11-Oct-2022 14:14) Posted:
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Today the stock suffer big decline. Anyone know the reasons ?
swaps were entered into during the half year to hedge approx 80 of the outstanding Onshore Facilities through to 30 June 2025
Additional TAIBOR swaps were entered into after 30 June 2022 Together with the existing interest rate swaps, TAIBOR swaps now hedge
approx 93 of the outstanding Onshore Facilities through to 30 June 2025 The average fixed rate on all TAIBOR swaps is 0 94
& bull
But it seems their loans are pretty much hedged?
Additional TAIBOR swaps were entered into after 30 June 2022 Together with the existing interest rate swaps, TAIBOR swaps now hedge
approx 93 of the outstanding Onshore Facilities through to 30 June 2025 The average fixed rate on all TAIBOR swaps is 0 94
& bull
But it seems their loans are pretty much hedged?
PhillipTan ( Date: 06-Oct-2022 09:47) Posted:
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Not really sure what that means, based on my limited understanding which could be wrong.....
NT 27.7bn = SGD 1.251bn plus SGD 154.4m
Debt = Est. SGD 1.4bn
PAT
2017 - 36.78m
2018 - 7.73m
2019 - 19.41m
2020 - 17.68m
2021 - 20.25m
With a SGD 1.4bn loan, every 1% increase in interest rate = SGD 14m in interest increase, 2% increase = 28m increase in interest cost
Cash & equivalent as at Dec' 21 = 124.69m
I vaguely remember that they have a working capital of 40m
This could mean they will have a hard time servicing the loan and loan interest, if the interest rates increased and stay up for extended periods of time
One way to counter will be to cut down on dividend payout and use the profits to redeem the loans gradually
NT 27.7bn = SGD 1.251bn plus SGD 154.4m
Debt = Est. SGD 1.4bn
PAT
2017 - 36.78m
2018 - 7.73m
2019 - 19.41m
2020 - 17.68m
2021 - 20.25m
With a SGD 1.4bn loan, every 1% increase in interest rate = SGD 14m in interest increase, 2% increase = 28m increase in interest cost
Cash & equivalent as at Dec' 21 = 124.69m
I vaguely remember that they have a working capital of 40m
This could mean they will have a hard time servicing the loan and loan interest, if the interest rates increased and stay up for extended periods of time
One way to counter will be to cut down on dividend payout and use the profits to redeem the loans gradually
prophetjul ( Date: 03-Oct-2022 09:05) Posted:
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What do you make of this?
&bull
Borrowings
comprised NT and S denominated loans NT 27 7 billion 2021 NT 28 0 billion) and S 154 4 million 2021 S 171 9 million)
&bull
Extended
maturity date of Offshore Facilities by two years to Jul 2023 and Onshore Facilities by three years to Nov 2028 on the same major
terms pared down NT 0 8 billion (approx S 40 million) as part of Onshore Facilities&rsquo extension, using cash on the balance sheet
&bull
Commenced
discussion with lenders in 2022 to further extend Offshore Facilities to at least 2025
&bull
TAIBOR
swaps were entered into during the half year to hedge approx 80 of the outstanding Onshore Facilities through to 30 June 2025
Additional TAIBOR swaps were entered into after 30 June 2022 Together with the existing interest rate swaps, TAIBOR swaps now hedge
approx 93 of the outstanding Onshore Facilities through to 30 June 2025 The average fixed rate on all TAIBOR swaps is 0 94
&bull
Effective
interest rate in constant dollar terms of 2 7 p a for the quarter and 2 4 p a for the half year compared to 2 7 p a for full year 2021
Actual effective interest rate in SGD was 3 0 p a for the quarter and 2 7 p a for the half year compared to 3 0 p a for full year 2021
&bull
Approx
S 87 million of revolving facilities are available to fund working capital and future initiatives, if required
&bull
Borrowings
comprised NT and S denominated loans NT 27 7 billion 2021 NT 28 0 billion) and S 154 4 million 2021 S 171 9 million)
&bull
Extended
maturity date of Offshore Facilities by two years to Jul 2023 and Onshore Facilities by three years to Nov 2028 on the same major
terms pared down NT 0 8 billion (approx S 40 million) as part of Onshore Facilities&rsquo extension, using cash on the balance sheet
&bull
Commenced
discussion with lenders in 2022 to further extend Offshore Facilities to at least 2025
&bull
TAIBOR
swaps were entered into during the half year to hedge approx 80 of the outstanding Onshore Facilities through to 30 June 2025
Additional TAIBOR swaps were entered into after 30 June 2022 Together with the existing interest rate swaps, TAIBOR swaps now hedge
approx 93 of the outstanding Onshore Facilities through to 30 June 2025 The average fixed rate on all TAIBOR swaps is 0 94
&bull
Effective
interest rate in constant dollar terms of 2 7 p a for the quarter and 2 4 p a for the half year compared to 2 7 p a for full year 2021
Actual effective interest rate in SGD was 3 0 p a for the quarter and 2 7 p a for the half year compared to 3 0 p a for full year 2021
&bull
Approx
S 87 million of revolving facilities are available to fund working capital and future initiatives, if required
PhillipTan ( Date: 03-Oct-2022 03:46) Posted:
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That' s the problem with high gearing companies
As at FY 2021, its revenue PAT still seems pretty stable despite covid
For FY 2022 to 2023 or maybe even 2024, the revenue should more or less be the same I guess
But due to the high gearing, the PAT will nose dive with more than 1b dollars of debt
They have mentioned that it is likely they will go for interest rates swap during 2022 to lock in the interest rates for next 2-3 years
Just hope that they had already done so or things could get a lot uglier as interest rates keep going up now
As at FY 2021, its revenue PAT still seems pretty stable despite covid
For FY 2022 to 2023 or maybe even 2024, the revenue should more or less be the same I guess
But due to the high gearing, the PAT will nose dive with more than 1b dollars of debt
They have mentioned that it is likely they will go for interest rates swap during 2022 to lock in the interest rates for next 2-3 years
Just hope that they had already done so or things could get a lot uglier as interest rates keep going up now
cobrajr ( Date: 30-Sep-2022 22:41) Posted:
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Look like slow death now huhuhu
Asian Pay Television Trust
On Sep 6, non-executive director and vice-chair of the trustee-manager of Asian Pay Television Trust (APTT) : S7OU +0.88% Lu Fang-Ming, acquired 151,000 units of the business trust for a consideration of S$17,365.
At an average price of 11.5 cents per unit, this increased his total interest in APTT from 1.06 per cent to 1.07 per cent. His preceding acquisitions were on Jul 28 with 330,000 units acquired at 11.8 cents per unit, Jul 14 with 300,000 units acquired at 12.2 cents per unit, and between Sep 23 and 27, 2021 with 1,888,400 units acquired at 13.0 cents per unit.
Lu has also been a corporate executive vice-president of Hon Hai/Foxconn Technology Group since the ODM manufacturing company he co-founded was acquired by Hon Hai/Foxconn Technology Group in May 2000.
On Aug 12, APTT reported revenue of S$71.8 million for Q2 2022, a decline of 2.5 per cent from Q2 2021, and S$145.4 million for H1 2022, a decline of 1.8 per cent from H1 2021. Broadband continued to be the growth driver, recording improvements on all fronts &ndash the number of subscribers, average revenue per user and revenue in both S$ and NT$.
CEO apperas to bt buying at high prices! LOL
Joelton ( Date: 22-Aug-2022 08:40) Posted:
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Asian Pay Television Trust
On Aug 15, the CEO of the trustee-manager of Asian Pay Television Trust (APTT) : S7OU -0.85%, Brian McKinley, acquired 300,000 units of APTT at 12.0 cents per unit. With a consideration of S$36,000, this increased his direct interest in the business trust from 0.15 per cent to 0.17 per cent.
His preceding acquisitions were on May 17, with 300,000 units acquired at 13.3 cents per unit and Feb 28, with 200,000 units acquired at 13.7 cents per unit.
Prior to his appointment as CEO in Apr 2017, McKinley was the CFO of the trustee-manager, an office he held since the listing of APTT in May 2013.
Today about 5 m transacted at 0.115 to 0.116.
Congrats to those who bought at these 2 prices.
Yield 8.7/8.6%. Potential to go up further to 9.6/9.5% next year.
If not because no bullet, I would have added.
Congrats to those who bought at these 2 prices.
Yield 8.7/8.6%. Potential to go up further to 9.6/9.5% next year.
If not because no bullet, I would have added.
At current price, yield is at a whopping 8.6%.
Management had pared down debts for the past 2 years, saving interest payment as a result.
With more free cash flow, they repeatedly said there will be a review on DPU.
We will most likely see an upward adjustment on DPU next year.
Management had pared down debts for the past 2 years, saving interest payment as a result.
With more free cash flow, they repeatedly said there will be a review on DPU.
We will most likely see an upward adjustment on DPU next year.
PhillipCapital upgrades APTT to ' buy' due to recent share price weakness
PhillipCapital Research analyst Paul Chew has upgraded his recommendation for Asia Pay Television Trust (APTT) to " buy" from " accumulate" , with an unchanged target price (TP) of 15 cents after APTT' s results for the 1HFY2022 ended June met his expectations.
During the six-month period, APTT' s revenue and Ebitda of $145.4 million and $85.6 million came in at 49% and 48% of Chew' s full-year estimates, with a 2QFY2022 distribution maintained at 0.25 cents per unit.
Chew says that the upgraded call comes off the back of " recent share price weakness" . In his report dated Aug 16, Chew has kept his FY2022 Ebitda forecast and TP unchanged.
His TP is based on 9x FY2021 EV/Ebitda, a 20% discount to APTT' s Taiwanese peers. " The current dividend yield of 8.5% or $18 million payout, is well supported by an estimated free cash flows of around $80 million per annum," writes Chew.
Broadband continued to be the growth driver for APTT with revenue from this segment growing from both higher volumes and prices, recording improvements on the fronts of subscriber numbers, average revenue per user (ARPU) and revenue in both the Singdollar (SGD) and Taiwan dollar (TWD).
APTT' s net subscribers added in 2QFY2022 were 9,000 and ARPU rose 5% year-on-year (y-o-y) to TWD377 ($17.37), notes Chew, who adds that higher speed broadband plans are driving prices while partnerships with mobile operators are helping APTT gain more subscribers.
However, he maintains that there is a " secular decline" in demand for basic cable, with no change to the continuing weakness in basic cable TV revenue seeing APTT' s 18th consecutive quarterly decline of subscribers. " Local content is still popular but piracy issues and aggressive internet protocol TV (IPTV) are driving the loss of subscribers and the need to provide more discounts for customer retention," he says.
Although APTT' s 2Q2FY2022 revenue of $71.8 million was a 2.5% y-o-y decrease compared to 2QFY2021, Chew attributes 1.8% points of this contraction to a stronger SGD. The company' s Ebitda shrank by 6.2% y-o-y to $42.4 million in 2QFY2022.
Still, the analyst says that APTT is a " competitively priced" broadband that is 40% to 50% cheaper than peers, with its collaborations with mobile operators driving both volumes and prices higher to boot.
While ARPU is 20% lower than cable TV, the margins are higher because there is no content cost, which forms around 30% of cable TV revenue, says Chew. Meanwhile, broadband can keep group revenue stable as 5G takes over as the company' s new growth catalyst.
Of the company' s $1.44 billion debt, $1.3 billion is onshore TWD debt &mdash of which 93% or $1.2 billion is hedged at a fixed rate of 0.94% until June 2025 &mdash while its offshore debt of $154 million is at a floating rate of base plus 1.6% to 1.9%, he notes, adding that a 100 basis points (bps) rise in Singapore Interbank Offered Rates (SIBOR) will increase interest by $1.5 million &mdash not a " significant impact" to free cash flow and thus supporting APTT' s " attractive" dividend yield of 8.5%.
To this end, Chew has raised his FY2022 Patmi estimates by $14 million from lower effective tax, interest rate and depreciation assumptions.
Asian Pay Television Trust
On Jul 28, non-executive director and vice-chair of the trustee-manager of Asian Pay Television Trust (APTT), : S7OU +0.85% Lu Fang-Ming, acquired 330,000 units of the business trust for a consideration of S$38,940. At an average price of 11.8 cents per unit, this increased Lu&rsquo s total interest in APTT from 1.04 per cent to 1.06 per cent.
His preceding acquisitions were on Jul 14 with 300,000 units acquired at 12.2 cents per unit, and between Sep 23 and 27, 2021 with 1,888,400 units acquired at 13.0 cents per unit.
Lu has also been a corporate executive vice-president of Hon Hai/Foxconn Technology Group since the ODM manufacturing company he co-founded was acquired by Hon Hai/Foxconn Technology Group in May 2000.
APTT will announce its results for Q2 2022 and H1 2022, as well as the distribution for the quarter ended Jun 30, before the start of market trading on Aug 12.
Asian Pay Television Trust
On May 17, the CEO of the trustee-manager of Asian Pay Television Trust (APTT : S7OU 0%), Brian McKinley, acquired 300,000 units at 13.3 cents per unit. With a consideration of S$39,900, this increased his direct interest in the business trust from 0.13 per cent to 0.15 per cent.
His preceding acquisitions were on Feb 28, with 200,000 units acquired at 13.7 cents per unit Nov 19, with 200,000 units bought at 13.6 cents per unit and on Sept 10, with 400,000 units bought at 13.1 cents per unit. Prior to his appointment as CEO in Apr 2017, McKinley was the CFO of the trustee-manager, an office he held since the listing of APTT in May 2013.
On May 13, APTT reported revenue of S$73.6 million for its Q1 2022 which was down 1.1 per cent from S$74.4 million in Q1 2021, while Ebitda declined 4.8 per cent to S$43.2 million, on higher operating expenses. Broadband revenue for Q1 2022 recorded 16.5 per cent growth from Q1 2021, with continued increases in subscribers, ARPU and revenue in both S$ and NT$.
APTT is the first listed business trust in Asia focused on pay-TV and broadband businesses, with its current investment mandate to acquire controlling interests in and to own, operate and maintain mature, cash generative pay-TV and broadband businesses in Taiwan, Hong Kong, Japan, and Singapore.
After a long period without action, insider buying again.
This time is CEO buying.
Positive sign.
They reiterated during recent 1st qtr business update that DPU may see an adjustment after 2022.
This time is CEO buying.
Positive sign.
They reiterated during recent 1st qtr business update that DPU may see an adjustment after 2022.
APTT ANNOUNCES RESULTS FOR THE QUARTER AND YEAR ENDED 31 DECEMBER 2021
25 February 2022
KEY HIGHLIGHTS
Overall performance for the quarter and year ended 31 December 2021 was led by strong Broadband growth Broadband subscribers increased by c.8,000 for the quarter and c.32,000 for the year, alongside higher ARPU Broadband revenue improved in both S$ and NT$ for six consecutive quarters, compared to the pcp
EBITDA increased by 8.0% and 1.2% for the quarter and full year, respectively, while EBITDA margin improved by 4.7 percentage points to 60.7% for the quarter and 2.2 percentage points to 61.1% for the year
Steady increase in Premium digital cable TV and Broadband subscribers over the past 15 quarters more than offset Basic cable TV churn total subscribers increased to c.1,246,000
Capital expenditure decreased by 46.2% for the quarter and 46.6% for the year
Size of Onshore Facilities was reduced by NT$1.5 billion (approximately $73 million1) as a result of accelerated debt repayments
Extension of Onshore Facilities, ahead of maturity, reset principal repayment schedule and financial covenants
Target to make cash repayments of approximately $60 million in onshore and offshore debt over the next 12 months
The Trustee-Manager has approved a credit of $169.6 thousand for the 2022 Trustee-Manager fees, equivalent to the amount of the CPI increase from 2021 underscores its commitment to cost management
Distribution of 0.25 cents per unit declared for the quarter re-affirmed distribution guidance of 1.0 cent per unit for 2022, to be paid in quarterly instalments
IFRS-compliantfinancial statements to be released on a half-yearly basis, starting from the financial year 2022
FINANCIAL HIGHLIGHTS
APTT reported stable revenue of $76.2 million for the quarter and $299.7 million for the full year ended 31 December 2021. Driven by lower operating expenses, earnings before interest, tax, depreciation and amortisation (" EBITDA" ) for the quarter and full year increased by 8.0% and 1.2% to $46.3 million and $183.1 million, respectively, while EBITDA margin improved by 4.7 percentage points to 60.7% for the quarter and 2.2 percentage points to 61.1% for the year.
Foreign exchange contributed to a positive variance of 3.2% for the quarter and 2.7% for the year. In constant Taiwan dollars (" NT$" ), total revenue decreased by 3.6% for the quarter and 5.2% for the year, mainly due to lower revenue generated from channel leasing. The absence of one-off basic cable TV revenue arising from the sale of certain in-house content to channel providers in the first quarter of 2020, as well as less airtime advertising sales recorded in the first quarter of 2021 also contributed to the lower revenue for the full year in 2021.
https://www.marketscreener.com/quote/stock/ASIAN-PAY-TELEVISION-TRUS-13396514/news/Asian-Pay-Television-Trust-Press-Release-356-KB-39578680/
25 February 2022
KEY HIGHLIGHTS
Overall performance for the quarter and year ended 31 December 2021 was led by strong Broadband growth Broadband subscribers increased by c.8,000 for the quarter and c.32,000 for the year, alongside higher ARPU Broadband revenue improved in both S$ and NT$ for six consecutive quarters, compared to the pcp
EBITDA increased by 8.0% and 1.2% for the quarter and full year, respectively, while EBITDA margin improved by 4.7 percentage points to 60.7% for the quarter and 2.2 percentage points to 61.1% for the year
Steady increase in Premium digital cable TV and Broadband subscribers over the past 15 quarters more than offset Basic cable TV churn total subscribers increased to c.1,246,000
Capital expenditure decreased by 46.2% for the quarter and 46.6% for the year
Size of Onshore Facilities was reduced by NT$1.5 billion (approximately $73 million1) as a result of accelerated debt repayments
Extension of Onshore Facilities, ahead of maturity, reset principal repayment schedule and financial covenants
Target to make cash repayments of approximately $60 million in onshore and offshore debt over the next 12 months
The Trustee-Manager has approved a credit of $169.6 thousand for the 2022 Trustee-Manager fees, equivalent to the amount of the CPI increase from 2021 underscores its commitment to cost management
Distribution of 0.25 cents per unit declared for the quarter re-affirmed distribution guidance of 1.0 cent per unit for 2022, to be paid in quarterly instalments
IFRS-compliantfinancial statements to be released on a half-yearly basis, starting from the financial year 2022
FINANCIAL HIGHLIGHTS
APTT reported stable revenue of $76.2 million for the quarter and $299.7 million for the full year ended 31 December 2021. Driven by lower operating expenses, earnings before interest, tax, depreciation and amortisation (" EBITDA" ) for the quarter and full year increased by 8.0% and 1.2% to $46.3 million and $183.1 million, respectively, while EBITDA margin improved by 4.7 percentage points to 60.7% for the quarter and 2.2 percentage points to 61.1% for the year.
Foreign exchange contributed to a positive variance of 3.2% for the quarter and 2.7% for the year. In constant Taiwan dollars (" NT$" ), total revenue decreased by 3.6% for the quarter and 5.2% for the year, mainly due to lower revenue generated from channel leasing. The absence of one-off basic cable TV revenue arising from the sale of certain in-house content to channel providers in the first quarter of 2020, as well as less airtime advertising sales recorded in the first quarter of 2021 also contributed to the lower revenue for the full year in 2021.
https://www.marketscreener.com/quote/stock/ASIAN-PAY-TELEVISION-TRUS-13396514/news/Asian-Pay-Television-Trust-Press-Release-356-KB-39578680/