APTT is a much disliked counter going by what forummers/ bloggers said about it during its IPO, but it has fallen 23% from its IPO price with a yield of above 10%. It is still a bargain now?
As with HPHT, the sustainability or the doubts of its sustainability of payout is the main reason for its under performance. Lets us look at APTT and the various threats and see if they are justifiable.
First, earning power.
If we go earlier, a similar picture emerges.
The good operating numbers correspond to the increasing basic TV RGUs and the increasing prenium TV customers.
Is such operating numbers sustainable? Competition within franchise area is currently non existence but with the rezoning of franchise areas, competition might increase, and “On 8 May 2013, the NCC approved preliminary permits for Vastar and TOP for franchise area extensions into Taichung City, which will allow them to begin ......
If we go earlier, a similar picture emerges.
The good operating numbers correspond to the increasing basic TV RGUs and the increasing prenium TV customers.
Is such operating numbers sustainable? Competition within franchise area is currently non existence but with the rezoning of franchise areas, competition might increase, and “On 8 May 2013, the NCC approved preliminary permits for Vastar and TOP for franchise area extensions into Taichung City, which will allow them to begin ......
