Taiwan market: APBT turns profitable in 2009 Tweet

Asia Pacific Broadband Telecom (APBT), the only 3G mobile telecom carrier adopting CDMA2000 in Taiwan, saw its 2009 operation swing to net operating profit of NT$1.6 billion (US$48.8 million) and net profit of NT$3.5 billion from continued losses for a few years, according to the company.

APBT said it expects revenues of NT$20.8 billion, EBITDA (earnings before interest, tax, depreciation, amortization) of NT$5.0 billion and net operating profit of NT$3.0 billion for 2010. While operation is improving, APBT will need three years to offset the cumulative net loss of NT$15.0 billion, it said.

APBT on April 12 signed with eight local banks for a 5-year syndicated loan of NT$3.5 billion at an interest rate of slightly over 2%, with the funds to be used to repay short-term debts and increase working capital, the company noted.

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