Got some $0.38 also...
I am in ... At least collect dividend every quarterly...
Badly mauled in the last 1 to 2 years this APTT.
About time to play up this stock since hitting historical bottom of 37 cent recent days. Bottom fishing seems gathering pace. Good luck to vested holders. 37 to 40 good buy to me. Please DYODD before playing this counter
About time to play up this stock since hitting historical bottom of 37 cent recent days. Bottom fishing seems gathering pace. Good luck to vested holders. 37 to 40 good buy to me. Please DYODD before playing this counter
This might be the primary reason for recent year' s selling off of APTT units due to some informed unitholders' concerns on change of APTT manager going forward and Asia Pacific Telecom' s potential intervening in the management of TBC' s business under APTT once the deal is completed.
It is like the analogy of a company which experiences a change in boss and some employees may choose to leave the company if they do not know the new boss, his management style, how he might steer the company and treat his employees. However, there will still be other employees who will choose to stay.
I think the potential reduction in dividends payout going forward is a lesser concern (though still a valid concern) as compared to the change in ownership of APTT whether it will be for the better or not. However, based on the SGX earlier announcement, seems this Mr Lu is a veteran in the telecommunications industry and he is confident to value add to APTT unitholders after the acquisition of TBC.    
jeremyow ( Date: 30-Dec-2016 14:12) Posted:
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Pls kindly ignore my ealier post. Seems that the proposed deal was made in Mr Lu' s name and not through Asia Pacific Telecom (APT) even though Mr Lu is a chairman of APT, so it may not have any material impact on Asia Pacific Telecom and its balance sheet.  
jeremyow ( Date: 30-Dec-2016 13:36) Posted:
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http://www.telegeography.com/products/commsupdate/articles/2016/01/26/hon-hai-executive-acquires-taiwan-broadband-communications-parent-company/
It seems that this proposed deal to acquire TBC is made under Mr Lu' s personal name. So by right it does not have anything to do with Asia Pacific Telecom' s interest in the deal. However, other sources indicated that the NCC expressed concerns whether Asia Pacific Telecom will intervene in the management of TBC after the acquisition. This is because of Mr Lu' s sensitive position as the chairman of Asia Pacific Telecom. Maybe some unitholders of APTT who are informed on this proposed acquisition are not confident that after the acquisition of TBC, it will still go well for APTT going forward due to change in the ownership of the manager?      
jeremyow ( Date: 30-Dec-2016 13:36) Posted:
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Technical rebounce should come soon...after today contra due from last week 23 dec
jeremyow ( Date: 30-Dec-2016 13:36) Posted:
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I did a search on Asia Pacific Telecom and noticed their revenues and operating profits have declined over the past 5 years. They even incurred losses in the most recent two years. Their total liabilities are very low and they have good amount of cash and short term investments such that they are in a net cash position as of last year 2015. But with the proposed acquisition, and majority of funds for the acquisition will come through lending from banks and financial institutions, their total labilities will surely increase after the successful acquisition of APTT in due time.
I wonder could it be Asia Pacific Telecom was not doing well in the recent few years in its business performance such that it is looking at some acquisition (in this case of acquiring TBC' s business indirectly through acquiring APTT' s manager) hoping to boost its own revenues and operating profits to mitigate or reverse their declining trend?    
jeremyow ( Date: 30-Dec-2016 13:07) Posted:
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http://www.taipeitimes.com/News/taiwan/archives/2016/10/21/2003657615
According to the above article dated 21 Oct, there are still more questions raised by the National Communications Commission of Taiwan (NCC) on chairman of Asia Pacific Telecom Lu Fang Ming' s bid to acquire Taiwan Broadband Communications (TBC) which belongs to Asian Pay Television Trust (APTT). Questions were asked about the sources of fundings for this acquisition which must not contravene regulations and also how management of TBC which belongs to APTT which will now come under Asia Pacific Telecom after the acquisition is going to be run.
There will be a later administrative hearing for the chairman Lu Fang Ming with more questions asked by NCC about the deal. Thus, the proposed deal is not fully completed yet until it satisfies all clarifications by NCC. 
See below link for an earlier annoucement on SGX on the above proposed acquisition. There is only going to be a change in the CEO and CFO upon successful completion of the acquisition. The other directors and management team of APTT will remain unchanged. Also, Mr Lu currently has no intentions to alter the distribution policy of giving out 100% of the distributable free cash flows to APTT unitholders upon successful acquisition of APTT' s manager. I supposed the significant sell off of APTT units over this year is more related to this proposed deal which will change the manager and key leaders of APTT such as CEO and CFO. The business of the Trust going forward should be at least alright even if not fantastic. Or else, why would another Telecom chariman wants to spend money to acquire TBC' s business which belongs to APTT?  
There will be further updates on this proposed acquisition in due time on SGX when things are settled. Meanwhile, just have to wait for the confirmed updates on SGX.
http://infopub.sgx.com/FileOpen/APTTDivestTM25Jan2016.ashx?App=Announcement& FileID=387058
Just4win ( Date: 29-Dec-2016 10:18) Posted:
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RATE HIKE will be till MAR or APR...still got time collect dividends...
almost 18% plus yield....
WAIT FOR TAKEOVER AT 50cents...
Anyone awares of any further update on this article ? Where can I find more info ? Pls adv.. tia.
 
*APTT: Lu Fang Ming, chairman of Asia Pacific Telecom, which is proposing to acquire APTT, was called before Taiwan commissioners to answer questions about funding, and how it plans to increase service level of Taiwan Broadcasting Corp (APTT&rsquo s seed asset). Lu will face more questions at a later administrative hearing.
Short-Sell trend ...
 
Merc85 ( Date: 26-Dec-2016 22:02) Posted:
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Yes, appreciate tbird96 for the translation and sharing! I like your comment on not over-analysing the situation. We can form our opinions and views but what counts is ultimately the actual performance of the business of the Trust going forward who knows may be very different to our opinions and views. 
pinkowl ( Date: 27-Dec-2016 20:40) Posted:
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Thanks for sharing and translation. Appreciate your effort.
tbird96 ( Date: 27-Dec-2016 20:30) Posted:
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Good day,
My personal notes.
On the first article, key notes for me:
=>   14 banks'     热 烈 响 应   .   From my previous experience with Taiwanese banks, their credit risk assessment is time consuming for prudence.   Do note the credit ratings of the banks themselves.  
=>   Interest rate to be applied has lowered from TAIBOR + 260 basis points to TAIBOR + 230 basis points.
=>   Loan is for TWD28 billion.   This is to refinance TWD32 billion loan taken in June 2015, and for general working capital.   贷 款 资 金 将 用 于 TBC在 2015年 6月 签 订 的 320亿 台 币 贷 款 的 再 融 资 , 以 及 充 作 运 营 资 金 。 I note extra TWD4 billion is not required.
=> Reason for new loan is due to change in key shareholder.
 
On the second article, key notes for me:
=> If NCC has set a precedence with this other (23Dec2016) case, Mr. Lu' s plans should be approved.   NCC had the same concerns on the TBC takeover (source of funds) as this 23Dec2016 merger case.
=> Is the takeover negative for investors?   To me, very briefly, it is positive.   Even if most deem it as not, the market should have long priced in this takeover scenario.
 
On the third article, key notes for me:
=> Rate maintaining at TWD560.   TWD570 as TBC has asked for would have been better.   But NCC could have reduced the fee, based on the weak economy.
=> Subscriber based has increased consistently.   At YTD30Sep2016 numbers, both Basic and Premium Digital cable TV subscribers have exceeded FY2015' s numbers.   Kindly note low churn rates.
 
But, at the end of date, it does not matter much what we say here.   Really.   Lets not overanalyze.  
Please note these are my personally personal perspectives (PPP).   Please review all materials for your own interpretation.
Based on the Reuters article, major part of their new loans now are term loan on fixed interest rate at certain basis points above the TAIBOR rate. I did an estimation of the interest rate on their new loans and it is around slightly over 3%. It seems they have got an attractive deal now from the lending banks for the years ahead until refinancing kicks in again.
tbird96 ( Date: 27-Dec-2016 15:33) Posted:
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Thanks for sharing. 
tbird96 ( Date: 27-Dec-2016 15:33) Posted:
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Good day,
Just for your information:
==>   http://cn.reuters.com/article/idCNL4S1CW24V    (this news article reported on TBC' s TWD28 billion loan. It is reported " 路 透 香 港 10月 26日 - 汤 森 路 透 旗 下 基 点 报 导 , 消 息 人 士 称 , 有 线 电 视 运 营 商 --台 湾 宽 频 通 讯 (TBC)周 三 为 其 280.2亿 台 币 (8.92亿 美 元 )的 七 年 期 贷 款 签 署 了 协 议 , 此 前 该 笔 贷 款 获 得 了 14家 银 行 的 热 烈 响 应 。 &rdquo   It also states the bank lending rates, for your info.
==>     http://www.ntdtv.com/xtr/gb/2016/12/23/a1303323.html    (On 23 December 2016, there was a Taiwan news report on NCC approving a merger of two telcos.   It also made mention of the NCC second upcoming hearing on TBC takeover by Mr.  Lu Fang-ming.   Please review for your own interpretation.)
==>     http://news.ltn.com.tw/news/local/paper/1065804    (This just out today.   As some may know, the regulator / NCC sets the subscription rates.   Rates are maintained at TWD560.   Again for your own interpretation.)