DOCSLIB.ORG

Hong Kong, China Internet Case Study

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Hong Kong, China Internet Case Study I n t e r n a t i o n a l T e l e c o m m u n i c a t i o n U n i o n BROADBAND AS A COMMODITY: HONG KONG, CHINA INTERNET CASE STUDY May 2003 Michael Minges prepared this report. Tim Kelly drafted the mobile section. Nathalie Delmas was responsible for formatting and production. The report is based on field research carried out from 3 to 6 December 2002 as well as articles and reports noted in the document. The assistance of the Office of the Telecommunication Authority, particularly M. H. Au and Sara Lam, was indispensable and highly appreciated. Equally, the report would not have been possible without the cooperation of the Census and Statistics Department, Hong Kong Broadband Network, i-Cable and Pacific Century Cyberworks. The report benefited from comments both within and outside ITU. Within ITU, Vanessa Gray, Esperanza Magpantay, Taylor Reynolds and Gary Sacks remarked on the report. Externally, M. H. Au, Fion Fung, Yiu-choi Siu and Benjamin Tong provided valuable observations. The report is one of a series examining the Internet in different economies around the world. Additional information is available on ITU’s Internet Case Study web page at <www.itu.int/ITU-D/ict/cs/>. The report may not necessarily reflect the opinions of ITU, its members or the Government of Hong Kong Special Administrative Region of the People’s Republic of China. The title refers to the evolution of broadband Internet access in Hong Kong such that it is increasingly perceived as a basic commodity. NOTE: FOR BREVITY, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA IS REFERRED TO AS HONG KONG IN THE REPORT. © ITU 2003 ii Contents 1. Introduction....................................................................... 1 1.1 Background ............................................................................ 1 1.2 Methodology ........................................................................... 1 2. Pervasiveness .................................................................... 3 3. Geographic dispersion ....................................................... 8 4. Sector absorption............................................................. 10 4.1 Education ............................................................................. 10 4.2 Government ......................................................................... 10 4.3 Health .................................................................................. 10 4.4 Business .............................................................................. 10 5. Connectivity infrastructure .............................................. 12 5.1 International and national backbone ........................................ 12 5.2 Local exchange ..................................................................... 12 5.3 Local access .......................................................................... 13 5.4 Mobile .................................................................................. 16 6. Organizational infrastructure ........................................... 20 7. Sophistication .................................................................. 25 8. Conclusions ...................................................................... 28 Annex 1: List of meetings........................................................ 31 Annex 2: Acronyms ................................................................. 32 Annex 3: Bibliography ............................................................. 33 iii Figures 2.1 Internet penetration in advanced Asia-Pacific economies ............. 3 2.2 Hong Kong's Internet history ................................................... 4 2.3 Hong Kong's Digital Divide ...................................................... 5 3.1 Map of Hong Kong .................................................................. 8 3.2 Where we use the Internet ...................................................... 8 5.1 Hong Kong's international bandwidth ...................................... 12 5.2 Reach international Internet backbone .................................... 13 5.3 Hong Kong Internet Exchange ............................................... 14 5.4 Broadband trends in Hong Kong ............................................. 15 5.5 Broadband coverage and subscribers ...................................... 16 5.6 Hong Kong: The world's most competitive mobile market? ........ 16 6.1 Broadband pricing ................................................................ 23 7.1 Heavy users ........................................................................ 25 7.2 What the Internet is used for................................................. 26 7.3 Government online ............................................................... 26 8.1 Hawking broadband ............................................................. 28 8.2 State of Internet in Hong Kong .............................................. 29 Tables 4.1 Government computerization ................................................ 10 4.2 Penetration and usage of information technology in the business sector ............................................................... 11 5.1 Broadband coverage in Hong Kong ......................................... 14 6.1 Hong Kong's telecommunication and regulatory timeline ........... 20 6.2 Hong Kong's broadband operators .......................................... 22 Boxes 1.1 Abundant information ............................................................. 2 2.1 English language, Hong Kong and the Internet .......................... 6 3.1 Community Cyber point .......................................................... 9 5.1 Hong Kong's 3G licensing process .......................................... 17 iv 1. Introduction 1. Introduction 1.1 Background Promotion of the Internet has existent) to four (highly developed). become a top priority in many The factors are as follows: economies around the world. Some are now moving beyond basic • pervasiveness: a measure Internet access to promoting high- based on users per capita and the speed broadband infrastructure and degree to which non-technicians networks. The deployment of are using the Internet. broadband infrastructure is increasingly perceived as important • geographic dispersion: a for overall economic and social measure of the concentration of development. According to the the Internet, from none or a Chairman of Singapore’s information single city to nationwide and communication technology availability. regulatory agency: • sector absorption: a measure “Broadband is a defining technology of the degree of utilization of the of our age. In the future, no nation Internet in the education, can claim to be of developed status commercial, health care and without good broadband access.”1 public sectors. Central to broadband development are • connectivity infrastructure: a mass-market technologies for end user measure based on international access. In that respect, the and domestic backbone International Telecommunication Union bandwidth, exchange points, and (ITU), the United Nations specialized user access methods. agency for telecommunications, has embarked on a series of case studies • organizational infrastructure: researching the development of the a measure based on the state of Internet. This study looks at the the Internet Service Provider development of the Internet and industry and market conditions. particularly broadband access in the Hong Kong Special Administrative • sophistication of use: a Region of the People’s Republic of China measure characterizing usage (hereafter referred to as Hong Kong). from conventional to highly sophisticated and driving 1.2 Methodology innovation. The Mosaic Group2 has developed a framework for characterizing the state This framework is used to assess the of the Internet in an economy. They situation in Hong Kong with a consider six factors, each of which has particular focus on broadband Internet five values ranging from zero (non- access. 1 Hong Kong, China Internet Case Study Box 1.1: Abundant information One of the advantages of studying a market like Hong • Since all of Hong Kong’s main Kong is the large amount of timely and relevant statistics telecommunication operators are publicly available for the information and communication traded, they publish data relating to their technology sector. This assists policy making by allowing businesses on an annual basis. Most also publish Hong Kong to be benchmarked against other leading semi-annual interim or quarterly reports. In economies in terms of ICT. T he data are to be addition to financial data, these reports also commended for they follow international standards and contain operational data and enhance the ability unlike some other economies, statistics from Hong to analyze Hong Kong’s ICT sector, particularly Kong are transparent and clear. In addition, Hong from a market share perspective. Kong is at the forefront of disseminating new statistics often before other economies have started collecting • Hong Kong’s government statistical office, the them. Sources include: Census and Statistics Department (C&SD), carries out regular annual surveys on the • The Office of the Telecommunication Authority usage of information and communication (OFTA), the telecommunication industry technology in households and businesses.4 regulator, publishes a variety of statistics on its The surveys provide an essential supplement web site.3 These include monthly statistics on to the administrative
Load more

Recommended publications
  • Opening China's Telecommunications
    Research Assessment Exercise 2020 Impact Case Study University: The Hong Kong University of Science and Technology Unit of Assessment (UoA): 22-Business Title of case study: Opening China’s Telecommunications Market for Hong Kong Investors 1. Summary of the impact Policies for the telecommunications sector within the significant Closer Economic Partnership Agreement (CEPA) cross-border trade agreement between Hong Kong and mainland China have been influenced by research by Xu Yan, linked to his earlier studies on telecommunications policy in Hong Kong and mainland China carried out at HKUST. Such work has had impact on policy by informing senior government policymakers locally and nationally through recommendations on how to liberalize the Chinese telecommunications market under CEPA, and contributed to economic impact following the opening up of this sector to Hong Kong investors under the agreement, mainly in value-added services and particularly in Guangdong Province. 2. Underpinning research Professor of Information Systems, Business Statistics and Operations Management Xu Yan (joined HKUST in 1997) has established himself as an expert on the telecommunications sector and its regulation in Hong Kong and mainland China through a series of published comparative studies that address telecommunication policy issues, in particular market liberalization. Xu’s distinctive perspective on this area draws on his in-depth east-west knowledge resulting from previous working experience in the Ministry of Posts and Telecommunications of China and its affiliated university, doctoral studies on telecommunications policy in the UK, and a dedicated research focus on telecommunications market over the past 15 years, with almost all of his publications up to 2015 centered on this area and related issues.
    [Show full text]
  • Virgin Media Consolidated Financial Statements
    Consolidated Financial Statements December 31, 2018 VIRGIN MEDIA INC. 1550 Wewatta Street, Suite 1000 Denver, Colorado 80202 United States VIRGIN MEDIA INC. TABLE OF CONTENTS Page Number Part I: Forward-looking Statements...................................................................................................................................... I - 1 Business ..................................................................................................................................................................... I - 3 Management............................................................................................................................................................... I - 21 Principal Shareholder................................................................................................................................................. I - 23 Risk Factors ............................................................................................................................................................... I - 24 Part II: Independent Auditors’ Report.................................................................................................................................... II - 1 Consolidated Balance Sheets as of December 31, 2018 and 2017 ............................................................................ II - 3 Consolidated Statements of Operations for the Years Ended December 31, 2018, 2017 and 2016 .......................... II - 5 Consolidated Statements of Comprehensive
    [Show full text]
  • HKT Trust HKT Limited
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. HKT Trust (a trust constituted on November 7, 2011 under the laws of Hong Kong and managed by HKT Management Limited) and HKT Limited (incorporated in the Cayman Islands with limited liability) (Stock Code: 6823) CONTINUING CONNECTED TRANSACTIONS WITH THE PCCW GROUP The HKT Limited Group entered into various transactions with the PCCW Group for operational needs as described in the Prospectus which constituted continuing connected transactions of the Company under the Listing Rules. Such transactions and their respective annual caps will expire on December 31, 2013. It is anticipated that the existing continuing connected transactions with the PCCW Group will continue beyond December 31, 2013. The Directors propose to renew these continuing connected transactions and enter into new continuing connected transaction and set new Annual Caps as described in this announcement for the three financial years ending December 31, 2014 to 2016. PCCW is the controlling holder of the Share Stapled Units. Accordingly, the PCCW Group is a connected person of the Company under the Listing Rules. As the applicable percentage ratios (as defined in the Listing Rules) in respect of the relevant Annual Caps, in each case (or on an aggregated basis, as described below), of the continuing connected transactions, which are categorised according to the providers of the relevant service, exceed 0.1% but are less than 5%, the continuing connected transactions are subject to the reporting and announcement requirements under Rules 14A.45 to 14A.47 of the Listing Rules, but are exempt from the independent shareholders’ approval requirement under Rule 14A.34 of the Listing Rules.
    [Show full text]
  • HKT's Proposed Acquisition Of
    HKT’s proposed acquisition of CSL An economic analysis of competitive effects for the CA Final report Public Version April 2014 About London Economics London Economics is one of Europe's leading specialist economics and policy consultancies and has its head office in London. We also have offices in Brussels, Dublin, Cardiff and Budapest, and associated offices in Paris and Valletta. We advise clients in both the public and private sectors on economic and financial analysis, policy development and evaluation, business strategy, and regulatory and competition policy. Our consultants are highly-qualified economists with experience in applying a wide variety of analytical techniques to assist our work, including cost-benefit analysis, multi-criteria analysis, policy simulation, scenario building, statistical analysis and mathematical modelling. We are also experienced in using a wide range of data collection techniques including literature reviews, survey questionnaires, interviews and focus groups. Head Office: 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom. w: londoneconomics.co.uk e: [email protected] : @LondonEconomics t: +44 (0)20 7866 8185 f: +44 (0)20 7866 8186 Authors Paula Ramada, David Lewin, Sion Jones (+44 (0) 20 7866 8185; [email protected]) Wherever possible London Economics uses paper sourced from sustainably managed forests using production processes that meet the EU eco-label requirements. Copyright © 2014 London Economics. Except for the quotation of short passages for the purposes
    [Show full text]
  • HUAWEI Smartcare®
    White Paper AIOps – Automated Dissatisfied CX Analysis May 2019 Mark Geere, Jing Hao, Chiu-Chung Yue, Derek Chen HUAWEI SmartCare® HUAWEI TECHNOLOGIES CO., LTD. Copyright © Huawei Technologies Co., Ltd. 2019. All rights reserved 1. Executive Summary Artificial Intelligence and Machine Learning has spread to all industries and all parts of those industries. Whether we are talking about Enterprise adaption within the Automated Cars, the Health industries etc. or within the consumer world where it is now embedded within everyone’s phones to help them take a better picture or more efficiently use their battery power. The point is that AI is now ubiquitous throughout our lives at work, home and within the products and services we consume. So it is no surprise that the Telecoms industry is also looking at how they can use AI to (1) improve internal efficiencies across their organizations, as well as (2) drive better customer engagement to enhance customer experience on the services they deliver (Figure 1). The “Automated Dissatisfied CX Analysis” use case is a part of the AIOps catalyst which links Hong Kong Telecom (HKT) with Huawei’s SmartCare® Customer experience solution to deliver on these 2 key areas. The focus of the use case is to investigate how customer complaints at the point of reporting can be intelligently analyzed in order to deliver the following benefits: Support network optimization: By aggregating affected users and problem dimensions, this use case supports network problem optimization based on user experience assurance and improves O&M efficiency. Support proactive care: Provides proactive care for identified affected users to improve customer satisfaction.
    [Show full text]
  • “Relationship Between Trading at Ask Price and the End-Of-Day Effect in Hong Kong Stock Exchange”
    “Relationship between Trading at Ask Price and the End-of-Day Effect in Hong Kong Stock Exchange” AUTHORS Alex W.H. Chan Alex W.H. Chan (2005). Relationship between Trading at Ask Price and the End- ARTICLE INFO of-Day Effect in Hong Kong Stock Exchange. Investment Management and Financial Innovations, 2(4) RELEASED ON Monday, 05 December 2005 JOURNAL "Investment Management and Financial Innovations" FOUNDER LLC “Consulting Publishing Company “Business Perspectives” NUMBER OF REFERENCES NUMBER OF FIGURES NUMBER OF TABLES 0 0 0 © The author(s) 2021. This publication is an open access article. businessperspectives.org 124 Investment Management and Financial Innovations, 4/2005 Relationship between Trading at Ask Price and the End-of- Day Effect in Hong Kong Stock Exchange Alex W.H. Chan1 Abstract This paper presents an empirical study on the intraday trading behavior of Hang Seng In- dex constituent stocks in Hong Kong Stock Exchange. We use LOGIT model to analyze the prob- ability of a trade occurring at the ask price and investigate its relationship with the end-of-day ef- fect. We find some systematic patterns of trading at ask price over different trading time intervals. This systematic pattern of trading at ask price can explain around one-third of the abnormal return from the end-of-day effect. JEL classification: G10, G12, G15 Key words: Intraday Return, Trade at Ask, End-of-Day Effect. 1. Introduction Many empirical investigations on the U.S. stock market document systematic patterns for the intraday stock price generating process (e.g. Wood, McInish and Ord (1985), Harris (1986) and Jain and Joh (1988)) and systematic intraday trading behavior of investors.
    [Show full text]
  • Hong Kong Telecom Sector
    China / Hong Kong Industry Focus Hong Kong Telecom Sector Refer to important disclosures at the end of this report DBS Group Research . Equity 5 June 2018 Ringing a different tone HSI : 30,998 Expect higher residential broadband ARPU upside as low-ARPU subs contracted during the price war A N ALYST two years ago are due to renew their service Chris KO CFA, +852 2971 1707 [email protected] plans at higher prices in 2018 Tsz Wang TAM CFA, +852 2971 1772 Residential broadband operators are focusing on [email protected] raising revenue per customer by offering more services Mobile roaming market becoming a new arena Recommendation & valuation for price competition HKBN is our top pick in the sector as it benefits Company Price T arget Rec Mk t Cap F Y19F the most from a tariff hike in the residential Price Yield broadband market HK$ HK$ US$m % HKBN 11.08 13.90 BUY 1,426 6.7 Renew ing low-ARPU residential broadband subs at higher (1310 HK) HKT Trust prices. We expect the low-ARPU residential broadband subs 9.91 12.80 BUY 9,599 6.7 contracted in 2016 (when there was a price war) to renew (6823 HK) their service plans at a higher price in 2018, supporting an Hutchison Telecom 2.81 3.10 HOLD 1,732 2.0 industry tariff hike. Moreover, the duopoly players HKT (6823 (215 HK) HK, BUY) and HKBN (1310 HK, BUY) are also focusing on Smartone Telecom 8.65 7.80 HOLD 1,245 4.4 increasing their revenue per customer by bundling and selling (315 HK) more value-added services.
    [Show full text]
  • SMS Coverage
    7/26/2018 Centro De Mensajes :: Send Single SMS SMS Coverage Covering 651 Operators in 228 Countries. Country Operator Cost Comments Afghan Wireless Communication Company 0.0108 Dynamic Alphanumeric (AWCC) Afghanistan (+93) Roshan 0.0105 Alpha Sender Only Afghanistan (+93) MTN Afghanistan 0.0077 Senders are being Replaced Afghanistan (+93) Etisalat Afghanistan 0.0286 Dynamic Alphanumeric Afghanistan (+93) Salaam Afghan Telecom 0.0101 Dynamic Alphanumeric Afghanistan (+93) Albania Telekom Albania 0.0108 Dynamic Alphanumeric (+355) Albania Vodafone Albania 0.0116 Dynamic Alphanumeric (+355) Albania Eagle Mobile 0.0093 Dynamic Alphanumeric (+355) Algeria Algerie Telecom (Mobilis) 0.0178 Dynamic Alphanumeric (+213) Algeria Orascom Telecom (Djezzy) 0.0101 Dynamic Alphanumeric (+213) Algeria Ooredoo Algeria 0.0155 Dynamic Alphanumeric (+213) American Blue Sky Communications 0.0657 Dynamic Alphanumeric Samoa (+1684) Andorra Andorra Telecom (Servei De Tele. DAndorra) 0.0077 Dynamic Alphanumeric (+376) Angola Unitel Angola 0.0101 Dynamic Alphanumeric (+244) Angola Movicel Angola 0.0139 Dynamic Alphanumeric (+244) Anguilla Weblinks 0.0302 Dynamic Alphanumeric (+1264) Anguilla Wireless Ventures Anguilla (Digicel) 0.0302 Dynamic Alphanumeric (+1264) Anguilla Cable & Wireless Anguilla 0.0131 Dynamic Alphanumeric (+1264) Antigua and APUA PCS 0.0232 Dynamic Alphanumeric Barbuda (+1268) Antigua and FLOW Antigua (LIME - CWC) 0.0302 Dynamic Alphanumeric Barbuda (+1268) Antigua and Digicel Antigua 0.0099 Dynamic Alphanumeric Barbuda (+1268) Argentina Nextel
    [Show full text]
  • Hong Kong Telecom Services: PCCW-HKT Stake Sale Implications: Buy HKT's 9% DPS CAGR at 7% Yield
    13 February 2017 | 8:08PM HKT Hong Kong Telecom Services: PCCW-HKT stake sale implications: Buy HKT’s 9% DPS CAGR at 7% yield Before market open on Feb. 13, PCCW announced that it (via wholly owned In Young Chung +852-2978-1171 | subsidiary CAS Holding) plans to dispose of an 11.1% stake in HKT Trust (HKT) via a [email protected] Goldman Sachs (Asia) L.L.C. secondary placement at HK$10.15 per share stapled unit, an 8.4% discount to the Piyush Mubayi Feb. 10 closing price. The consideration would be US$1.1bn based on the deal price. +852-2978-1677 | [email protected] We remain Buy on HKT given improving mobile and broadband fundamentals, and Goldman Sachs (Asia) L.L.C. also its robust dividend growth outlook. While our estimates are unchanged, in this note we look at key information about the deal as well as the potential implications for both companies. Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Appendix, or go to www.gs.com/research/hedge.html . Analysts employed by non-US affiliates are not registered/qualified as research analysts with FINRA in the U.S. Goldman Sachs Hong Kong Telecom Services Key information & implications PCCW likely to remain as the major shareholder of HKT: While we do not take a view on the success of the secondary placement, PCCW’s stake in HKT would reduce to 51.97% from 63.07% post the placement, according to the announcement.
    [Show full text]
  • PLDT Named Asia's Best Telecom Company in Euromoney Survey
    FIRST PACIFIC COMPANY LIMITED PRESS RELEASE 14 February 2001 PLDT Named Asia’s Best Telecom Company in Euromoney Survey The attached press release was distributed today by PLDT, in which First Pacific has a 24.6 per cent economic interest, and a 31.7 per cent voting interest. PLDT is the leading supplier of domestic and international telecommunications services in the Philippines. Based in Manila and listed on the Philippine Stock Exchange and the New York Stock Exchange, PLDT is actively pursuing a convergence strategy and has three principal business groups - fixed line, wireless and internet/multi media – providing a comprehensive menu of products and services across the most extensive broadband and integrated networks in the country. For more information please refer to: www.pldt.com.ph. * * * For further information, please contact: Nick Thompson Tel: (63-2) 816 8468 Adviser Investor Relations & Corporate Communications PLDT PLDT Named Asia’s Best Telecom Company in Euromoney Survey Manila, The Philippines, February 14, 2001…The Philippine Long Distance Telephone Company (“PLDT”) has been named as Asia’s best managed fixed line telecommunications company in an annual survey conducted by Euromoney, one of the world’s leading financial magazines. PLDT’s subsidiary, Smart Communications, has also been recognized in the survey, taking fourth place in the keenly contested cellular telecommunications category. The rankings of Asia’s Best Managed Companies, now in their fifth year, are compiled from the votes of market analysts at major banks and research institutes worldwide and have just been announced in the February issue of Euromoney. Survey respondents were asked to nominate their top three companies in each of the countries and sectors they covered.
    [Show full text]
  • Hong Kong Telecom Sector
    China / Hong Kong Industry Focus Hong Kong Telecom Sector Refer to important disclosures at the end of this report DBS Group Research . Equity 27 November 2015 Winning through effective pricing HSI : 22,068 strategy ANALYST Mobile operators remain disciplined in mobile data Tsz Wang TAM CFA, +852 2971 1772 [email protected] pricing, positive to ARPU and service revenue Chris KO growth [email protected] Downside risk from handset sales due to weak iPhone 6S demand in HK, triggering downward earnings revisions Recommendation & valuation Company Price Target Rec Mkt FY15F HKBN gained market share as revealed by its better- than-expected FY8/15 results; expect more Price Cap PE aggressive pricing going forward HK$ HK$ US$m x Prefer HKBN and SmarTone, who are smaller players Hong Kong Telecom operators and gaining market share with strong capability in HKBN 10.2 11.0 Buy 1,324 98.4 strategy execution (1310 HK) HKT Trust Mobile service revenue growth offset by handset sales 9.72 9.1 Hold 9,496 22.8 (6823 HK) decline. Hong Kong mobile operators remain disciplined in Hutchison Telecom mobile data pricing, which is positive to mobile ARPU and 2.78 2.7 Hold 1,729 14.8 service revenue growth. Operators have recently been (215 HK) focusing more on raising tariffs for lower-tier plans as well Smartone Telecom 11.74 15.0 Buy 1,606 13.2 (315 HK) as launching various top-up plans to monetise more data usage. But we saw limited tariff hike for the higher-tier plans in the past few months.
    [Show full text]
  • Hong Kong Telecom Sector
    China / Hong Kong Industry Focus Hong Kong Telecom Sector Refer to important disclosures at the end of this report DBS Group Research . Equity 3 Dec 2018 2019 outlook: ARPU recovery HSI: 26,507 • More rational competition after management changes of major listed telecom operators • Expect further rounds of industry-wide tariff ANALYST Chris KO CFA, +852 3668 4172 [email protected] hikes in the mobile market Tsz-Wang TAM, CFA +852 3668 4195 [email protected] • Increasing spending per sub through upselling and cross-selling in residential broadband market Recommendation & valuation • HKBN (1310 HK, BUY) remains our top pick in the sector due to its attractive dividend yield and Company Price T arget Rec Mk t Cap F Y19F strong growth potential Price Yield HK$ HK$ US$m % More rational competition after various management changes. HKBN 12.18 15.60 BUY 1,566 5.6 In September 2018, HKT (6823 HK, BUY), the largest telecom (1310 HK) operator in Hong Kong, started its tariff hike for mobile service Smartone Telecom 9.74 11.80 BUY 1,395 4.5 plans to end the price war. Going forward, we expect further (315 HK) rounds of industry-wide tariff hikes in the mobile market HKT Trust 11.32 14.90 BUY 10,956 6.4 supported by (1) more rational competition after management (6823 HK) changes in major listed telecom operators, (2) increasing data Hutchison Telecom 2.94 3.30 HOLD 1,811 1.9 usage, and (3) cost pressure from higher spectrum utilisation (215 HK) fee (SUF) for 900/1800MHz spectrum reassignment.
    [Show full text]