`New` Pacific Century CyberWorks Unveils Growth Plan; - 500 Beiträge pro Seite

[Honkydonky]

`New` Pacific Century CyberWorks Unveils Growth Plan;


`8 X 3` Structure Geared to Capture Global Opportunities

HONG KONG, Aug. 17 /PRNewswire/ -- Pacific Century CyberWorks (SEHK: 0008) announced an aggressive global growth strategy today, upon completion of its US$38 billion merger with the former Cable & Wireless HKT.
Asia`s largest-ever merger including Japan has created one of the world`s largest Internet companies. The new PCCW will utilize an innovative "8 X 3" model that operates eight business units via three operating sectors, each driven by growth, and operating on principles of accessibility, accountability and transparency.

The new structure is designed to best realize the myriad Internet, broadband and communication opportunities in the Asia-Pacific region and beyond, said Richard Li, Chairman and CEO of PCCW.

"Today`s merger has created a first-of-its-kind company," said Mr. Li, who founded Pacific Century CyberWorks in 1999. The Company is now one of the largest Internet companies in the world.

"But this is only the start of our multi-faceted growth strategy. Working as partners we will continue to create an Internet/Communications powerhouse that will enrich our shareholders, customers, staff, and the entire Hong Kong community."

Mr. Li identified the three sectors as Telecommunications Services, Global Communications Services and Net Enterprises, which he described as "sustained growth, high growth and explosive growth" respectively.

Telecommunications Services consists of fixed line operations, and represents the engine room providing cash for the other two growth sectors. Funds are generated from 3.7 million business and residential telephone lines and 77,000 broadband residential and business customers. Operating initially in Hong Kong, this sector will expand into Greater China.

Global Communications Services consists of two business units: Mobility Services and Connectivity Services. Strategic joint ventures will allow this sector to expand regionally and globally, delivering high growth.

The third sector is Net Enterprises, consisting of four business units: Broadband Business to Consumer Services, Business to Business Services, Data Center/Web Hosting Services and CyberWorks Ventures. This sector is primed for explosive growth.

The eighth business unit within PCCW, Infrastructure Services, serves all sectors and units.


Business Units Operating Sectors

Telecommunications Services Telecommunications Services

Connectivity Services Global Communications Services
Mobility Services

Broadband Business to Consumer Services
Business to Business Services Net
Data Centers/Web Hosting Services Enterprises
CyberWorks Ventures

Infrastructure Services directly support all three sectors.



"Our research shows that Internet users in Asia are booming, and in particular, Broadband Internet user numbers are going through the roof," said Mr. Li. "Our research estimates from a current total of about 4 million, there will be more than 10 million broadband Internet subscribers in Asia by 2001. It could even overtake the US by the end of next year."
PCCW Deputy Chairman Linus Cheung said more customers outside Hong Kong will be able to benefit from the Company`s well-equipped Telecommunications Services sector, which employs about 15,000 people.

"We see a world of telecoms opportunities right here in Asia," said Mr. Cheung. "Our new company is already Hong Kong`s leading provider of local and international services and Internet access, the second-largest operator of mobility services and a major player in broadband services as well. We will continue to build on this strong foundation."


The business units feature the following assets:

Telecommunications -- 95 percent Broadband availability in HK via fibre
Services and XDSL
-- 2.1 million residence and 1.5 million business lines
in HK
-- Strong earnings and revenues
-- Foundation for developing Broadband infrastructure
across Asia-Pacific

Connectivity -- Providing global Broadband connectivity
Services -- Broadband fibre optic and satellite network
-- One of Asia`s largest IP Backbones >1,200 Mbps

Mobility -- Wireless platform for access to NOW services
Services -- Wireless demand outstrips fixed line in Asia
-- Quality assets in Hong Kong that provide leverage
for regional expansion
-- Nearly 1 million customers

Data Centres/ -- Over 300,000 square feet of Hong Kong operations
Web Hosting facilities
Services -- Leading Asian-global partnerships and strong
positioning
-- Strong position to capture applications and high
demand for connectivity throughout Asia and beyond

Broadband -- World`s largest producer of converged broadband
Business content (NOW TV-web service)
To Consumer -- Entertainment, e-commerce and communications content
Services -- Multiple revenue streams and co-branding
opportunities
-- Rapidly growing broadband base in Hong Kong

Business to -- One-stop-shop for e-business capability
Business -- eLogistics, eProcurement, eMarketplace, call center,
Services ASP, IT
-- Strong (Fortune 500) customer base in Hong Kong

CyberWorks -- US$780 million in strategic investments
Ventures -- Equity stakes in more than 50 Internet-related
companies

Infrastructure -- Synergies with all business units
Services -- Cash flows from flagship investment properties
-- Revenues from Cyberport in Hong Kong
-- Revenues from Pacific Century Place in Beijing



Further increasing the efficiency of the 8 X 3 model is PCCW`s adoption of a Strategic Integration Process (SIP), which will function as a communication conduit throughout the new organization.
The SIP will link strategies and ensure coordination within and among sectors and business units without adding a level of bureaucracy. While addressing tasks most central to value creation, the SIP will provide Chairman Richard Li with direct access to sector Managing Directors and Business Unit Presidents.

Retaining the name Pacific Century CyberWorks was the overwhelming choice of the newly merged company and received further endorsement by focus groups of HKT staff, said Mr. Li. It was also agreed that PCCW is recognized by local and international investors as a global growth company.

The Company also has a new Executive Committee and management.

Richard Li, aged 33, is Chairman and Chief Executive of Pacific Century CyberWorks, Chairman and Chief Executive of the Pacific Century Group and Chairman of Pacific Century Regional Developments Limited. Mr. Li also chairs the Executive Committee.

Other executive management in alphabetical order:

Alexander Arena, aged 49, is Deputy Chairman of the Company`s Executive Committee. Mr. Arena is also a Director of Pacific Century Regional Developments Limited.

Linus Cheung Wing Lam, aged 51, is a Deputy Chairman of Pacific Century CyberWorks and a member of the Executive Committee. Prior to the merger of Pacific Century CyberWorks and Cable & Wireless HKT, Mr. Cheung was Chief Executive of Cable & Wireless HKT and Executive Director of Cable & Wireless plc.

David Prince, aged 49, is Group Chief Financial Officer. Mr. Prince is also a member of the Company`s Executive Committee.

Peter To, aged 52, is a Deputy Chairman of Pacific Century CyberWorks, and Managing Director and Chief Executive Officer of Pacific Century Regional Developments Limited.

Francis Yuen, aged 47, is a Deputy Chairman of Pacific Century CyberWorks, Deputy Chairman of the Pacific Century Group, Chairman of Pacific Century Insurance Holdings Limited and Deputy Chairman of Pacific Century Regional Developments Limited. Mr. Yuen is also a member of the Company`s Executive Committee.

Norman Yuen Kee Tong, aged 51, is Deputy Chief Executive Officer of Pacific Century CyberWorks and a member of the Company`s Executive Committee. Mr. Yuen is also a member of the Company`s Business-to-Consumers Executive Committee.



PACIFIC CENTURY CYBERWORKS

Broadband for the World


PCCW is changing the way people everywhere live, work and play. One of the world`s largest Internet companies, PCCW is focused on developing the full spectrum of Broadband Internet services, building on our expertise and knowledge of telecommunications, digital technology and new media. Access to Broadband content will be available via multiple platforms including satellites, fibre optics and wireless technology.
The Hong Kong-listed technology flagship of the Pacific Century Group, PCCW is a constituent of the Hang Seng Index and the MSCI Hong Kong Index. PCCW is the largest Internet company in Asia by market capitalisation.

A Measurement of Growth: 8 X 3

The August 2000 acquisition of Cable & Wireless HKT, valued at US$38 billion in cash and shares, has resulted in the creation of an innovative new business model within PCCW designed to foster high growth.

PCCW now runs eight business units within three operating sectors. The new business model is designed to maximize productivity by leveraging opportunities and resources across them.

The structure also assures investors, staff and customers of the Company`s commitment to accountability, accessibility and transparency.


Business Units Operating Sectors

Telecommunications Services Telecommunications Services

Connectivity Services Global Communications Services
Mobility Services

Broadband Business to Consumer Services
Business to Business Services Net
Data Centers/Web Hosting Services Enterprises
CyberWorks Ventures

Infrastructure Services directly support all three sectors


Eight Business Units

Telecommunications -- 95 percent Broadband availability in HK via fibre &
Services XDSL
-- 2.1 million residence and 1.5 million business lines
in HK
-- Strong earnings and revenues
-- Foundation for developing Broadband infrastructure
across Asia-Pacific

Connectivity -- Global Broadband connectivity
Services -- Broadband fibre optic and satellite network
-- One of Asia`s largest IP Backbones (>1,200 Mbps)

Mobility -- Wireless platform for access to NOW services
Services -- Wireless demand that outstrips fixed line in Asia
-- Quality assets in Hong Kong that provide leverage
for regional expansion
-- Nearly 1 million customers

Data Centres/ -- Over 300,000 square feet of Hong Kong operations
Web Hosting facilities
Services -- Leading Asian-global partnerships and strong
positioning
-- Strong position to capture applications and high
demand for connectivity throughout Asia and beyond

Broadband -- World`s largest producer of converged Broadband
Business content (NOW TV-web service)
To Consumer -- Entertainment, e-commerce and communications content
Services -- Multiple revenue streams & co-branding opportunities
-- Rapidly growing Broadband base in Hong Kong

Business to -- One-stop-shop for e-business capability
Business -- eLogistics, eProcurement, eMarketplace, call center,
Services ASP, IT
-- Strong (Fortune 500) customer base in Hong Kong

CyberWorks -- $US780 million in strategic investments
Ventures -- Equity stakes in more than 50 Internet-related
companies

Infrastructure -- Synergies with all business units
Services -- Cashflows from flagship investment properties
-- Revenues from Cyberport in Hong Kong
-- Revenues from Pacific Century Place in Beijing


Three Operating Sectors



Telecommunications Services -- Sustainable Growth. Pacific Century CyberWorks operates one of the most sophisticated fully digital telecommunications networks in the world, with enough fibre-optic cable laid in Hong Kong to round the world 11 times. Incorporating local and international telecommunications services, this sector will realise its own expansion strategies within Hong Kong and beyond by building on the US$4.7 billion invested in network infrastructure in the last 10 years to accelerate the DSL and Broadband migration of our customer base. All sectors will exploit Telecommunications Services to support higher growth businesses and spread operating costs, while utilising its significant human resources in regional growth opportunities.
Global Communications Services - High Growth. Includes Connectivity and Mobility Services. The PCCW -- Telstra joint ventures will develop a global distribution network that will involve the upgrade and rollout of additional cable and other infrastructure to meet future demand for carriage of voice, data and Internet services. Mobility Services will operate as an Asia Pacific provider of wireless voice and data network services.

Net Enterprises -- Explosive Growth. Includes Broadband B2C (NOW), B2B and Data Centers/Web Hosting services and CyberWorks Ventures. Drawing on resources from the Telecommunications and Global Communications operating sectors, we shall establish initial positions in opportunity-filled global markets initially in Greater China and Asia, the world`s fastest-growing Internet and Broadband region. The sector`s focus is on developing and implementing business plans aimed at building brands and seizing opportunities for hypergrowth.

Products/Services

NOW (Network of the World), rolled out in June 2000, is the world`s first truly converged Internet and digital TV content service. From a London studio employing about 300 people, NOW delivers two features: A linear TV experience and streaming video synchronized to web content. With NOW, TV viewer and Internet users become "viewsers," who can drill down into vortals (vertical portals) for in-depth content, including video clips, graphics, animation, text and web links.

The service, available at www.NOW.com, is designed for Broadband connections across multiple platforms, but is accessible via narrowband Internet dialups. i-Cable Communications Ltd. will carry NOW TV content on a dedicated channel starting August 28. In addition to English content currently offered on the service, Chinese and Japanese language programming is slated to come on line later.

Mobile communication services have been available from the former Cable & Wireless HKT for more than 15 years. Operating advanced GSM and D-AMPS systems, the Company serves all local market segments through its three mobile brands -- 1010, One2Free and "1+1" Communications. Pioneering many mobile technology innovations, the Company developed the world`s first mobile phone service in an underground railway, the Hong Kong MTR, as well as coverage in vehicular tunnels and automatic roaming in China.

Interactive Multimedia Services uses the company`s digital platform to offer sophisticated telecommunications services such as Netvigator, the largest Internet access service in Hong Kong. iTV, the world`s first Broadband interactive TV service was launched in March 1998 -- a revolutionary interactive multimedia service that can transform the home into a full-time entertainment, shopping and information centre. Netvigator has 561,000 narrowband accounts, up 74 percent year-on-year, and 77,000 Broadband accounts, a seven-fold jump from previous year.

Tele/services was established in April 1998 to provide outsourced teleservices, or call centre services. Banks, airlines and other businesses use these call centres to handle general enquiries, help-desk services, reservations, database establishment, as well as telesales. Tele/services is now offering CRM and other e-economy services.

Japan Investments

On August 10, 2000, PCCW invested about US$250 million to acquire a majority share in Japanese entertainment software producer Jaleco. The investment will result in a listing on the JASDAQ for PCCW Japan later this year. Strategic Japanese partners include Dentsu, one of the world`s largest ad agencies, Orix, a leading financial services company, and Sony PCL, which will assist in developing the NOW studio in Japan.

In July 2000, PCCW acquired a 16 percent stake in Tomen Mediacom, a Japanese listed company that has stakes in several Japanese cable television operations.

Both investments will enhance the distribution of NOW. A production studio is scheduled to be built in Japan.

Global Partners

Among PCCW`s strategic partners are: Intel, the leading computer and networking technology company; CMGI, one the largest aggregators of Internet brands and technology; Hicks, Muse, Tate & Furst (HMTF), a leading global investor in the media and telecommunications sectors; Trans World International (TWI), the world`s largest sports content supplier; Daimler Chrysler Aerospace, the leading satellite technology company; and, Legend Holdings, China`s leading PC manufacturer and distributor.

Corporate Facts

The new company retained the name Pacific Century CyberWorks. PCCW shares are listed on the Stock Exchange of Hong Kong (SEHK: 0008)

As of August 22, PCCW will be listed on the New York Stock Exchange (NYSE: PCW)

PCCW-Japan will be listed under: Japanese Securities Dealers Association (JASDAQ: 7954)


Other information
PCCW Revenues (Year end 31-Dec-99): US$19.54 million
PCCW Profit (Year end 31-Dec-99): US$44.58 million
HKT Revenues (Year end 31-Mar-00): US$3.64 billion
HKT Profit (Year end 31-Mar-00): US$147 million

New PCCW (Combined Group)
Unaudited Pro Forma Total Assets: US$9.6 billion as of 31 March 2000
Number of Employees: 15,000
Global Presence: 25 offices in 18 countries

Milestones
October 1993 Pacific Century Group is founded
March 1998 Pacific Century Convergence Joint Venture with Intel
August 1999 Pacific Century CyberWorks listed in Hong Kong
February 2000 Offer from PCCW to acquire HKT announced
April 2000 Announcement of MOU for PCCW and Telstra alliance
June 2000 NOW (Network of the World) service rollout from London
August 2000 PCCW acquires Japanese software maker Jaleco for
$US250 million
Aug. 17, 2000 Announces completion of formal merger procedures
Aug. 22, 2000 PCCW ADR listing on NYSE

Executive Committee & Management

Richard Li


Richard Li, aged 33, is Chairman and Chief Executive of Pacific Century CyberWorks, Chairman and Chief Executive of the Pacific Century Group and Chairman of Pacific Century Regional Developments Limited. Mr. Li is also Chairman of the Company`s Executive Committee and the Business-to-Consumers Executive Committee. Before founding the Pacific Century Group, Mr. Li built Star TV, Asia`s first satellite-delivered cable television service in 1990. In the three years under his leadership, Star TV`s subscriber base grew to over 53 million homes across Asia, the Middle East and Europe. The sale of Star TV to News Corp in 1993 provided the capital to launch the Pacific Century Group in October that year. Mr. Li was born in Hong Kong in 1966. He was educated in the US and graduated from Stanford University with a degree in computer engineering. Mr. Li is a member of the Center for Strategic and International Studies` International Councillors Group in Washington, D.C., the World Economic Forum and the International Advisory Board of the Center for International Development at Harvard University.

(other executive management in alphabetical order)

Alexander Arena


Alexander Arena, aged 49, is Deputy Chairman of the Executive Committee of Pacific Century CyberWorks. Mr. Arena is also a Director of Pacific Century Regional Developments Limited. He joined the Pacific Century Group in 1998. He was a Special Policy Adviser to the Government of Hong Kong from 1997 to 1998. From 1993 to 1997, Mr. Arena was the Director-General of Telecommunications in the Office of the Telecommunications Authority of Hong Kong as well as a member of the Broadcasting Authority. Prior to his appointment as Director-General, Mr. Arena was recruited to Hong Kong to plan a reform program for the liberalization of Hong Kong`s telecommunications sector. Prior to his appointment to the Government of Hong Kong, he was an inaugural member of The Australian Telecommunications Authority and had served in that capacity for four years. Mr. Arena has had an extensive career in public administration, specializing in high technology and infrastructure industries. From a practicing radio/communications engineer to a public policy maker, his experience spans such diverse areas as the commercialization of government-owned business enterprises and deregulation in the aviation, transport, telecommunications and postal industries. Mr. Arena graduated from the University of New South Wales, Australia with a Bachelor`s degree in Electrical Engineering and completed an MBA degree at Melbourne University, Australia.
Linus W. L. Cheung

Linus Cheung Wing Lam, aged 51, is a Deputy Chairman of Pacific Century CyberWorks and a member of the Executive Committee. Prior to the merger of Pacific Century CyberWorks and Cable & Wireless HKT, Mr. Cheung was Chief Executive of Cable & Wireless HKT and Executive Director of Cable & Wireless plc. Before joining C&W HKT, Mr. Cheung was Deputy Commercial Director of Cathay Pacific Airways of the Swire Group in 1991 and the following year joined their Board of Directors as their Executive Director of Hong Kong. He also served as the Airways` Deputy Managing Director. Mr. Cheung received a BSc degree with Honours and a Diploma in Management Studies from the University of Hong Kong. He also received management training of short durations in a number of institutions including the Harvard Business School, INSEAD of France, Oxford University, the London Business School and the Asian Institute of Management. Mr. Cheung was appointed in 1995 as an advisor to the Chinese Society of Macroeconomics of the State Planning Commission of the People`s Republic of China. He is currently Chairman of the University of Hong Kong`s Management Board of the School of Business and sits on numerous boards and committees including the Financial Secretary`s Services Promotion Strategy Group, the Securities and Futures Commission Advisory Committee, the Hong Kong Policy Research Institute, the Council of the University of Hong Kong and the General Committee of the Hong Kong General Chamber of Commerce.

David N. Prince

David Prince, aged 49, is Group Chief Financial Officer. Mr. Prince is also a member of the Company`s Executive Committee and a member of the Business-to-Consumers Executive Committee. Mr. Prince was previously Deputy Chief Executive and Finance Director of Cable & Wireless HKT, a position he held since February 1999. He was educated in the U.K. and was sponsored at business school by British Gas as part of their management training scheme. Mr. Prince worked for British Gas in a number of purchasing and marketing roles, then moved to the Dutch electronics group, Philips, initially as Management Accountant and later as head of one of their audit groups. He joined TRW (the US space defense group) in 1977 as Commercial Director responsible for the finance and commercial activities of a joint venture in the oil industry. Mr. Prince joined Cable & Wireless in 1981 as Financial Comptroller for the European division and in 1984, was appointed Divisional Manager of Finance to Cable & Wireless`s Hong Kong subsidiary (Cable & Wireless Hong Kong). In 1987, he returned to the U.K. as Controller Strategic & Financial Planning for the C&W Group. He was appointed as Finance Director to C&W HKT in 1994. He is a member of the Chartered Institute of Management Accountants and the Chartered Institute of Purchasing and Supply.

Peter To

Peter To, aged 52, is a Deputy Chairman of Pacific Century CyberWorks, and Managing Director and Chief Executive Officer of Pacific Century Regional Developments Limited. Mr. To is also Managing Director of the Company`s Infrastructure & Real Estate Services. He has been active in property development and investment for more than 27 years. Mr. To obtained a Certificate of Housing Management from the University of Hong Kong and is a Fellow of both of the Chartered Institute of Housing (UK) and Hong Kong Institute of Housing. Prior to joining the Pacific Century Group in September 1997, he was Managing Director of the Hutchison Whampoa Property Group. From 1983 until July 1997, Mr. To was mainly responsible for the development, marketing and management of all development and investment properties in the Hutchison Whampoa Property Group`s portfolio, which included a wide range of industrial and warehousing, commercial and residential development projects in Hong Kong and in major cities in the People`s Republic of China with a total floor area of over 2.5 million square meters. Mr. To is responsible for the overall strategy of the property development business of the Company and the Cyberport Project.

Francis Yuen

Francis Yuen, aged 47, is a Deputy Chairman of Pacific Century CyberWorks, Deputy Chairman of the Pacific Century Group, Chairman of Pacific Century Insurance Holdings Limited and Deputy Chairman of Pacific Century Regional Developments Limited. Mr. Yuen is also a member of the Company`s Executive Committee. He joined the Pacific Century Group in 1996 after an extensive career in investment banking and financial regulatory affairs that spanned Asia. From 1988 to 1991, he was Chief Executive of The Stock Exchange of Hong Kong Limited. Mr. Yuen was also a founding director of Hong Kong Securities Clearing Company Limited. Mr. Yuen served from 1992 to 1994 as a member of the International Markets Advisory Board of Nasdaq in the United States, the second largest stock market in the world. He was made the Managing Director of Citicorp Scrimgeour Vickers Hong Kong Limited in October 1986, and was appointed to the firm`s main board in London in 1987. Mr. Yuen worked for Wardley, a merchant bank, from 1977 to 1985. Mr. Yuen is the Chairman of the Board of Trustees of the Hong Kong Centre for Economic Research, a member of the Shanghai People`s Political Consultative Committee, and a member of the Board of Trustees of Fudan University in Shanghai. He received a Bachelor of Arts degree in Economics from the University of Chicago and is presently a member of the Board of Trustees of the University.

Norman K.T. Yuen

Norman Yuen Kee Tong, aged 51, is Deputy Chief Executive Officer of Pacific Century CyberWorks and a member of the Company`s Executive Committee. Mr. Yuen is also a member of the Company`s Business-to-Consumers Executive Committee and Managing Director of the Company`s Net Enterprises. He previously held the position of Deputy Chief Executive at Cable & Wireless HKT from 1995 and Director from 1993. He was responsible for strategic planning and local business development in e-commerce, Internet and Broadband applications, mobile, product management, information technology and regulatory affairs. A Hong Kong native, Mr. Yuen received his professional accountancy qualifications at Hong Kong Polytechnic University in 1969. He began his professional career at Price Waterhouse where he spent five years as a client services professional. Mr. Yuen then spent three years at Dodwell & Company as a manager of regional operations and later left to join Hong Kong Electric in 1977 as an internal auditor and was later involved with corporate planning and regulatory affairs. He currently serves on several Government advisory committees, including the Immigration Tribunal, the Information Infrastructure Advisory Committee and the Trade Development Council.

SOURCE Pacific Century CyberWorks

-0- 08/17/2000

/CONTACT: Joan Wagner, [phone], or fax, [phone], or [e-mail], or Jenny Fung, [phone], or fax, [phone], or [e-mail], both of Pacific Century CyberWorks/

CO: Pacific Century CyberWorks ST: China IN: CPR MLM SU: TNM RCN PER

[Walhalla]

Ach ne wirklich!
Ist ja interessant....
Hmmm ja seh ich auch so..
stimmt stimmt ja ja...