South China Morning Post: PCCW - 500 Beiträge pro Seite

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Lest Euch dies durch, als Statement zu meiner Aussage über PCCW und SoftNet Systems:
HUI YUK-MIN
Pacific Century CyberWorks has seen the value of its investment in 14 listed securities appreciate by US$1.04 billion (about HK$8.09 billion) in the past six months, according to the company.

CyberWorks` four top strategic investments among its listed, Internet-related portfolio - US-listed CMGI and SoftNet Systems and locally listed Golden Power International Holdings and Tom.com - accounted for most of the appreciation.

In a statement clarifying details about its investment portfolio, CyberWorks said the acquisition cost of its stakes in the four companies amounted to $522.3 million, while the market value had climbed to $1.54 billion as of Thursday.

This represents a gain on paper for CyberWorks of about $1.01 billion.

CyberWorks said the remaining listed investments in its portfolio had increased by $17.2 million.

Of its investments, Nasdaq-listed Internet investment company CMGI has been the star performer, contributing a paper gain of $657.9 million based on its market value as of Thursday.

The CMGI investment represents 63.09 per cent of CyberWorks` entire paper profit.

The investment in Golden Power, which has been taken over by leading Japanese technology company Hikari Tsushin, has been the next best performer, contributing a paper profit of $240.6 million.

CyberWorks said it would only book part of the gains from its investment portfolio into the "other investments" section of its accounts for the year to December 31 - due to be announced later today.

Of the $73.8 million in gains being booked, $4.8 million was realised, while $69 million was unrealised.

CyberWorks said the four top investments were being held for long-term strategic purposes and would be treated as "investment securities" in its accounts.

It said it was not its accounting policy to book unrealised gains on "investment securities".

CyberWorks` detailed clarification about the accounting treatment of the gains in its investment portfolio follows comments made by group managing director Alex Arena on Thursday that the company had made unrealised gains of about $1 billion on its investment portfolio in Internet companies.

CyberWorks has invested in more than 40 companies at a total cost of about $600 million.

Shares in CyberWorks and its Singapore parent, Pacific Century Regional Developments, were suspended from trading on Friday, pending clarification of the accounting treatment of CyberWorks` investment gains.

The companies have asked for their shares to resume trading today.

CyberWorks is expected to announce a multi-million dollar net loss for the year to December 31, with the company inheriting most of the losses from its predecessor, Tricom Holdings.

"CyberWorks was only established in August, so it`s not meaningful to look into its previous accounts as it is now a different company," said Jonathan Iu, an Internet analyst at SG Emerging Markets Equity Research.

He expected CyberWorks to remain in the red for the next two years as the company would require huge capital expenditures to roll out its satellite-based broadband Internet services.

Meanwhile, CyberWorks, which is still in the process of completing its takeover of Cable & Wireless HKT, said preliminary discussions between chairman Richard Li Tzar-kai and News Corp chairman Rupert Murdoch had been held over the joint venture between HKT and News Corp affiliate Star TV.

Further talks were planned, but no specific timetable had been determined.

CyberWorks also said it had filed an application with the Indian authorities to take a 49 per cent stake in Internet service provider Data Access.

[KittyHawk]

Moin moin,

es ist doch die alter Leier, die es mir einen eiskalten Schauer über den Rücken laufen lässt: Die Bubbles blähen sich mal wieder gegenseitig auf. "WIR haben keinen Gewinn erwirtschaftet, aber die Firmen, andenen wir beteiligt sind, werden den Gewinn irgendwann erwirtschaften."

Erschreckende Ähnlichkeiten zu anderen Vor-Crash-Situationen.

Das Internet-Business könnte sooo schön ohne diese Übertreibungen wachsen und in fünf Jahren wird es sowieso nur noch Internet-Companies geben. Aber wahrscheinlich ist es nur der ganz normale Lauf der Dinge und Gier hat ihren Preis.

PCCW werde jetzt auf jeden Fall nachkaufen, schliesslich kann jeder an der Bubble mitverdienen.

Ciao
Kit