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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