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HKBN (01310.HK) Expects 2H24 Performance to Trump 1H24; No Major Debt Maturity in 2024
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HKBN (01310.HK) Co-owner, Executive Vice Chairman and CEO William Yeung stressed that the company's performance in 2H24 will be better HoH no matter what. He said whether the company would increase its dividend payout in the future would depend on how much the company's results would grow in the future and whether the dividend payout would support the company's business growth and direction. He mentioned that the company is pushing ahead with digital transformation and will increase resources and manpower for digital-related businesses. Yeung also revealed that HKBN would launch a new 25GB fibre network service this year, with a monthly fee of less than $1,000. Installation of the service for its customers will start in June. He expected that the company would be able to cover most of its business and home customer focal points in 9 to 12 months at the earliest. Derek Yue, Co-owner and CFO at HKBN, added that the company's current debt portfolio is 50% fixed-rate and 50% floating-rate, and there is no major debt maturity in the near future, with the earliest one not until November 2025. He said the company is actively preparing for the need to refinance, and will make a decision depending on the market and banking conditions. Yue noted that the company still had sufficient funds to meet interest payments and other investment expenses, and did not see the need for commercial impairment at present. AAStocks Financial News |
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