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News - Detailed News Story

Foxconn's Terry Gou to sell stake in trustee-manager of Asian Pay TV Trust

16 May 2019 09:00

By Annabeth Leow

FOXCONN founder Terry Gou will sell his interest in the trustee-manager of Singapore-listed Asian Pay Television Trust (APTT), as he gears up to run for Taiwan president next year, the manager disclosed early on Tuesday.

Meanwhile, the trust is moving to pay an undetermined portion of the management fee in units, possibly from July onwards, for "greater financial alignment with unit holders", the manager disclosed.

APTT posted a net profit of S$7.4 million for the three months to March 31, reversing the previous year's S$7.03 million loss, which had come as a result of income tax costs, currency losses, and amortisation of loan-related deferred arrangement fees.

Revenue fell by 4.9 per cent year on year, to S$73.2 million, on broad declines. Taiwan Broadband Communications Group is APTT's only asset.


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Source: Business Times
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