Formerly About Applied Materials Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials

AMAT 260.77

+0.2%

Dec 24 12:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: StanX Long who wrote (63181)	4/25/2002 2:04:03 AM
From: StanX Long	Read Replies (1) of 70976

TelecomAsia Shares Plunge on 5.74 Bln Baht Write-off (Update1) By Anuchit Nguyen quote.bloomberg.com Bangkok, April 25 (Bloomberg) -- TelecomAsia Corp. shares plunged to their lowest in more than three years after Bangkok's largest fixed-line phone operator said it will write off 5.74 billion baht ($125 million) to reflect a loss on its investment in bankrupt Flag Telecom Holdings Ltd. The stock fell as much as 10 percent to 7.6 baht, the lowest since September 1998. The company owns 11 percent of Hamilton, Bermuda-based Flag, a fiber-optic network operator that filed for Chapter 11 bankruptcy protection last week. Flag shares have fallen to 8 U.S. cents from $1.6 at the end of last year and $44 in February 2000. ``TelecomAsia is expected to announce a huge loss in the first quarter as it will probably book the entire loss from Flag's investment in the previous quarter,'' said Siriluck Pakotiprapha, an analyst at United Securities Pcl, who has a ``sell'' recommendation on the stock. The loss would make it harder for TelecomAsia to return to profit after three straight years of loss. Since 1996, the company has posted a loss every year except in 1998 after the baht devaluation magnified its foreign-currency debt and recession cut revenue from phone service. TelecomAsia is scheduled to announce first-quarter earnings by mid-may.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next