Pay-television provider i-Cable Communications has become one of the few Hong Kong-listed stocks to emerge a winner from the atypical pneumonia outbreak as the panic over the disease causes Hong Kongers to find their entertainment at home.
The stock jumped 8.33 per cent to close at HK$1.95 yesterday, with company officials saying the pneumonia outbreak, or severe acute respiratory syndrome, was boosting demand for both its pay-TV and broadband Internet services, particularly since schools were suspended.
Peak Internet usage had been extended from 4pm to 4am, whereas before it was only four hours from 10pm, company officials said, and adding there was a growing list of new clients.
Company spokesman Garmen Chan said: 'Among the new subscribers, more than half are from private homes, instead of one-fourth in the past.'
I-Cable had 225,000 broadband subscribers at the end of last year, up year on year by 42 per cent. But average revenue per user fell 20 per cent to $180 from $224 a month.
Analysts said the virus outbreak would only boost subscriptions in the short term.
