...Chunghwa Telecom Co., Ltd. (CHT) remains the largest integrated telecom operator in Taiwan, with its revenues accounting for around one\01half of Taiwan s telecoms service market. As the national incumbent telecom operator, CHT has extensive network coverage and a large customer base, and solid cash flow from operations (CFO) has comfortably supported its large capital expenditure and dividend payments. The company has outperformed almost all other telecom operators in the Asia\01Pacific region in terms of financial profile (except for revenue growth). CHT has an overwhelmingly strong position in Taiwan s fixed\01line market, with a 97.3% subscriber share at end\01September 2008 (Sep08). However, fixed\01line revenues are likely to continuously decline with traffic migration to mobile services, increased use of voice over internet protocol (VoIP), and competition in the international long distance (ILD) market. CHT met...
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