[b]hallo Dos Players [/b] - 500 Beiträge pro Seite

[Cityhai]

@Dos Players
hallo-scheint als ob Pccw nach einem jahr jetzt den turn around schafft.
mfg
CH

[50Penninge]

Z U G R E I F E N ?

Nachdem der Trend derart deutlich nach oben zeigt,
sollte der langfristige Investor bei PCCW zugreifen?
Ich mein ja, billiger wird‘s nimmer.
Aber ACHTUNG, bei einer Weltweiten Rezession sollte man
sich aber auf einige Rückschläge gefasst machen.
Auf zwei Jahre Sicht oder länger, ist dieses mit Sicherheit ein günstiger Zeitpunkt zum zugreifen, ich Persönlich habe meine PCCW Anteile noch einmal vermehrt,
und zu 0,25€ vor Wochen schon verbilligt.

50Penninge de halve Mark sinn Geföihl segg, dat de Richard Li doch wärtvullen Minske is.

Hässt recht, gaff mien Fründ mi recht.

[50Penninge]

Betreff:Z U G R E I F E N ?
Aktuell hängt alles im Niemandsland,
nur kein unüberlegter Aktionismus

1 Mark morgen nur noch
50Penninge wert?:O:
Bei Lang& Schwarz alle handelbare Dax- Werte dick im Minus.

http://quotecenter.ls-d.de/lang/index.cfm?CFID=1641796&CFTOK…

[Cityhai]

PCCW gibt Anleihen aus

PCCW gab heute bekannt, dass man Bonds im Wert von 30 Mrd. Yen ausgeben wird. Die Coupon Rate liegt bei 3,65%, die Zahlung ist halbjährlich. Die Einnahmen werden als allgemeines Betriebskapital und für andere Zwecke verwendet. Die Anleihen werden von PCCW-HKT getragen, Merrill Lynch übernimmt die Ausgabe. PCCW erwartet, dass sich die Nettoverschuldung durch diese Ausgabe nicht verändern wird. (jf)

© Emerging Markets Research, 18.10.01
http://www.em-research.de

[Alles_klar]

Hallo freunde von PCCW
ich hab da so ein Problem.
Gestern bekam Post von meiner Bank
mit der Nachricht Fällige Optionsscheine.
Jetzt gilt die frage an alle PCCW gläubigen,
wer will meine 12 500 Optionsscheine WKN 577786 kaufen,
zu einen fairen Preis von 7,50 HK $,

Alles_klar

Kurs des Optionsscheines
am 11.09.2001 in Hog Kong 0,010000 HK$
Angebote bitte per E-Mail an [e-mail]
Ratenkauf ist möglich bis 11.11. 01 – 11.11UHR

:OAlles_klar

[bobolo]

@ Alles_klar
Dein Beitrag ist super. Ich kann Dir nur gratulieren. Wer mit soviel Hirn wie Du Beiträge abliefert, sollte vielleicht in irgendeiner Comic-Zeitschrift etwas veröffentlichen, mit Produktivität hat das nichts zu tun. Du bist der geborene Börsenhai - weiter so und Du bist bald Millionär.

[Alles_klar]

@bobolo, danke bist ja ein sehr netter ….,
3X kurz
Alles_klar?

[50Penninge]

the bobolo

[Alles_klar]

HK PCCW-HKT Launches US$750M Bond Via JP Morgan
Updated: Tuesday, November 6, 2001 09:01 PM ET

HONG KONG (Dow Jones)--J.P. Morgan Chase & Co. (JPM, news, msgs) confirmed Wednesday that it has launched a bond for PCCW-HKT Capital Ltd., but due to regulatory restrictions was unable to confirm any details.

Ratings agencies Standard & Poor`s and Moody`s, which issued ratings on the bond overnight, both said the Rule 144A senior unsecured issue will amount to up to US$750 million.

Syndicate sources in New York pinned the amount at US$750 million.

According to banking sources in Hong Kong the bond was launched in New York last night. Demand for the deal so far has been good, and it is expected to be priced late in the New York session Wednesday, they said.

According to Moody`s and S&P, the bonds will be guaranteed by PCCW-HKT Telephone Ltd., which is the wholly-owned fixed-line telecom division of Hong Kong`s Pacific Century CyberWorks Ltd. (PCW, news, msgs).

A spokeswoman for PCCW Wednesday declined to comment on the bond issue.

One investor said J.P. Morgan has given an indicative price for the bond of 350 to 362.5 basis points over the 10-year U.S. Treasury. The investor also said the bookrunner had filled three-quarters of the books overnight in the U.S. He added that he believes J.P. Morgan won`t have any problem filling the remainder, which will likely attract private clients.

The size of the bond indicates that PCCW learned a lesson from earlier this year, when it had to postpone a bond that was initially meant to be one of the largest corporate debt issues in dollar terms in Asia.

The initial plan to sell at least US$2.5 billion of bonds was first scaled back to US$1 billion, according to talk in the market, and then abandoned altogether as investors demanded too wide a spread.

Now it appears the company has opted to take advantage of pockets of demand in the market with smaller-size and less high-profile issues. Last month it issued JPY30 billion worth of 30-year Eurobonds via Merrill Lynch with a 3.65% coupon and a call option that gives it the right to redeem the bonds after five years.

S&P said PCCW-HKT plans to use the proceeds from the bond issue to refinance part of a US$4.7 billion syndicated loan that it took out on behalf of its parent. The company also plans to prepay another US$750 million of that loan with its own cash reserves before the end of this year, which means the US$1.5 billion three-year tranche will be mostly paid off, the ratings agency said in a release.

S&P rated the bond issue triple-B, while Moody`s assigned it a Baa1 rating with a stable outlook.

The investor, who declined to be named, said the bond will include a coupon step-up clause for events of downgrade. Under that clause the coupon will be increased by 25 basis points each time PCCW-HKT is downgraded by each of the rating agencies. For instance, if both S&P and Moody`s downgrade PCCW-HKT by one notch, the coupon will be increased by 50 basis points.

PCCW`s share price has so far failed to benefit from the news of the bond issue. By 0310 GMT (10:10 p.m. EDT Tuesday) it was quoted at HK$2.10, unchanged from Tuesday`s close, compared with a 0.6% gain in the Hang Seng Index. Trading volumes are also fairly thin, with only 9.6 million shares changing hands so far.

Alles_klar

[Alles_klar]

PCCW (0008) US$750M bond yield at T+360bp
2001/11/08

(Alles_klar News) PCCW`s (0008) US$750 million 10-year bond is priced at 99.705 to yield 7.793%, or 360 basis points over comparable-maturity US Treasuries. This is at the upper range of indicative price range. The coupon is set at 7.75%.

It is the second bond issue of the company in less than one month. In mid-October, the company issued a YEN30 billion euroyen 30-year bonds. The euroyen guaranteed notes carry a coupon of 3.65%.

In July, the company scraped its US$2.5 billion bond offering plan due to volatile market conditions.


Alles_klar

[Alles_klar]

Salomon cuts PCCW (0008) EPS forecast by 5%
2001/11/08

(Alles_klarNews) PCCW (0008) has announced its plans to issue 10-year bonds worth US$750 million which, as Salomon Smith Barney expected, should help refinance part of its US$4.7 billion floating rate debt. As stated, such an issue will reduce PCCW`s financial risk and long term borrowing costs but will increase short term borrowing costs, and thus lowering PCCW`s EPS for the following year by about 5% with any tax savings ignored.

Yet Salomon anticipated possibly lower tax rates for the coming year as interest on new debt may be tax-deductible.

Though Salomon maintained PCCW`s Outperform rating for the second half-year, an upside to the stock from current price of $2.13 appears limited without any aggressive cost cutting or sale of non-core assets. However, PCCW`s relatively better earnings visibility and under-owned status should ensure less downside risk relative to the HSI.

Alles_klar

[Alles_klar]

PCCW Major shareholder Li Tzar Kai Richard 38.60%

Alles_klar

[Alles_klar]

Cheung: PCCW (0008) no plan to adjust phone tariff
2001/11/12

( Alles_klar NEWS ) Linus Cheung, Deputy Chairman of PCCW (0008), said that PCCW had no intention to either raise or lower its residential-use telephone tariff. However, he did not say for how long the present tariff of $110 will last. Earlier, it was said that PCCW intended to apply to the Office of the Telecommunications Authority for lowering the tariff.

Cheung said that enhancing competitiveness and safeguarding employment was the company`s policy. But he would not say whether the company will cut jobs.

Alles_klar

[Alles_klar]

Major investors said want to place PCCW (0008) shr
2001/11/15

(NewsAlles_klar [) PCCW (0008) once rose by 7.78% from $2.36 to $2.425 in the early trade of afternoon session. It was said that major investors would like to place existing shares of more than US$500 million.

The stock eased back and now stands at $2.375 with a rise of 5.556%.



PCCW (0008) has 280K broadband subscribers by end-Oct
2001/11/15

(NewsAlles_klar [) Dominic Leung, Executive Vice-President of Internet Services of PCCW (0008), said that although the increase in the number of broadband Internet services subscribers in Hong Kong was deterred by the continued sluggish economy, PCCW`s "Netvigator" clients recorded increase. He revealed that in October alone, the increase was 20,000, which was the highest in the industry. Netvigator currently has 280,000 subscribers.

He hoped the monthly increase to remain at 20,000, but would not say whether the monthly fee would be adjusted.

Alles_klar

[Alles_klar]

PCCW (0008) not aware of reasons for shr prc increase
2001/11/16

(News(]Alles_klar [)
PCCW (0008) has made an announcement at the request of the Stock Exchange. The company said that it was not aware of any reason for the recent increase in the price and trading volume of the shares. It also confirmed that there were no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under the Listing Agreement





Placer of PCCW (0008) shr rumoured to be CMGI
2001/11/16

(News(]Alles_klar [)
Several foreign brokers tried to place up to US$500 million PCCW (0008) shares yesterday. However, according to market sources, the shares were not held by Cable & Wireless as rumoured yesterday, but CMGI, a major venture fund company in the US.

The brokers sound out for the placement of PCCW shares at the price of $2.15 to $2.25 per share yesterday. But no shares were placed in the end.

PCCW now stands at $2.325, down 1.064%. The trading volume is $70.97 million.







Telecom subdued, Telstra Chmn disappointed by shr prc
2001/11/16

(News(]Alles_klar [)
Telstra management said that the telecommunications industry is still subdued, but the company is well positioned for recovery of the industry.

Ziggy Switkowski, Chief Executive Officer of Telstra, said in the company`s AGM that the company still invested prudently although the profit margin had been under pressure.

Bob Mansfield, Chairman of Telstra, admitted that that he was disappointed at the share price. But he expected the share price to rise along with the sector`s recovery next year. He said that the company is bound to benefit from the adoption of mobile number portability in Australia.



Alles_klar

[Alles_klar]

PCCW (0008) rents Tokyo premises at $7.3M
2001/11/20

(News(]Alles_klar [)
PCCW (0008) announces that the lease of certain office space in a Tokyo property from a company owned by Richard Li, the controlling shareholder of the company at a monthly rent of YEN11.50 million (approxiately $7.3 million) together with approximately other monthly fee of $120,200.

PCCW Communications (Japan) K.K., an indirect wholly-owned subsidiary of the company, respectively entered into agreements with Pacific Century Group Japan Co. (PCGJ) and The Pacific Century Place Marunouchi Owners Union. Pursuant to the agreement, PCCW Communications will lease and sub-lease certain office space in Pacific Century Place Marunouchi, The leasing agreement is at a term of five years at a monthly rent of YEN7.45 millon (approximately $473,000), and the subdivision agreement will be from 1 February 2002 to 19 November 2006f at a monthly rent of YEN3.104 million (approximately $197,000).

Meanwhile, PCCW Communications also leases a space for display of the company`s logo outside such building from The Pacific Century Place Marunouchi Owners Union for a term of five years with a monthly rent of YEN950,000 (approximately $60,300). All of the three agreements also require 5% consumption tax.

PCCW currently rents an office in Tokyo, Japan for the purpose of identifying business opportunities and strategic partners for the operations of the company, its subsidiaries and associated companies. Besides, it is also in the best interests of the company to relocate that office to the building together with PCGJ in order to improve operational efficiency and place its logo outside the building for corporate marketing purposes. Richard Li owns a 37.5% stake in PCCW and a 55% stake in PCGJ; and PCGJ is entitled to exercise 94% of the voting rights of The Pacific Century Place Marunouchi Owners Union.

Alles_klar

[Alles_klar]

CLSA cuts PCCW pft forecast for nxt 3 yr
2001/11/20


(News(]Alles_klar [) PCCW (0008) issued an additional US$250 million 10-year global bonds. CLSA said the company is replacing cheap debts with expensive ones, but the long term bond will reduce its risk of financial stress in short term. It cuts its earnings forecast for the company in the comiong three years. Its net profit forecast for 2001 to 2003 are cut by 0.4%, 3.1% and 2.8% respectively to $2.247 billion, $3.372 billion and $3.162 billion.

CLSA waintains `Buy` recommendation and a target price of $2.71 for PCCW.

The additional bond yield at 315 basis points over US Treasury, versus the spread of 360 bp over Treasury earlier this month.

The stock now stands at $2.475, up 3.125%.

Alles_klar

[Alles_klar]

.

Cheung: salary cut depends on board`s decision
2001/11/22

(News(]Alles_klar [)
Many companies in Hong Kong cut jobs and salaries recently. Asked whether PCCW (0008) was under pressure to also cut jobs or salary, Linus Cheung, Deputy Chairman of PCCW, said that it depended on the decision of the company`s board of directors and the development of competitors. He said that the company has been cutting jobs by attrition since 1995, and the number of employees has been reduced from 16,000 to 13,500 since. He said that if the company had not done that, there would have been radical job-cut going on in the company at present.

In July this year, PCCW announced to sack over a hundred employees, most of whom were employees in the Internet operations, such as netvigator.





PCCW (0008) now no plan adjust HK FTNS phone charges
2001/11/22

(News(]Alles_klar [)
Being asked if Pacific Century CyberWorks (PCCW) (0008) will increase the local FTNS telephone charges, Deputy Chairman Linus Cheung replied that at present the company has no plans to raise nor to reduce the charges. He said that it is hard to make a comment on a matter to be materialised even in three weeks. Meanwhile, he hoped that Hong Kong and the company can try their best to work on the telecommunications market and other three FTNS rivals can work on their own network without relying on that of PCCW.


PCCW (0008) to reclaim $25M from new FTN operators
2001/11/22

(News(]Alles_klar [)
Linus Cheung, Deputy Chairman of PCCW (0008), said that the three new operator of fixed telecommunication networks, namely New World Telephone, Hutchison Global Crossing and New T&T, have been owing PCCW over $25 million payment since 1995 for the portable number services. He said that the Office of the Telecommunications Authority has judged that the three operators should settle the payment.

Cheung said that the company will reclaim the payment with interest by legal means.

He also said that he was not worried that the operators will direct their expense to their customers.


Alles_klar

[Alles_klar]

Alles_klar

UPDATE TIME: 16:05
Close 2.325HK$
Change -1.06 %

[Alles_klar]

Cheung: OFTA should not over-supervise telecom mkt
2001/11/22

(News(]Alles_klar [)

Linus Cheung, Deputy Chairman of PCCW (0008), criticised that the policy of the Office of the Telecommunications Authority (OFTA) was not flexible enough since the opening of the telecommunications market.

He said that the OFTA has to improve its way to handle arbitration and has to strength the supervision of the market especially after the open of the market. He said PCCW supports the OFTA`s decision to open up the market, but it also thinks that the OFTA should not be too tight when monitoring the market. Cheung said that the OFTA should allow larger space for the market to decide on its own.

Alles_klar

[Alles_klar]

.


Ri. Li: PCCW (0008) can maintain 10% biz growth
2001/11/26

(News(]Alles_klar [)
PCCW (0008) Chairman Richard Li told a newswire that the company should be able to maintain a 10% business growth, but the company will streamline the business structure by trimming those underperforming or overlapping. However, Li did not say directly if the company will axe workers.

He added that the B2B e-commerce business of the company grew more than 70% in the first half of the year and he believed that the weighting of the contribution of such business will increase further in times to come. For the residential broadband Internet plug-in business, Li claimed that the subscribers have increased from 180,000 in early this year to more than 250,000 at present, and more than 50,000 parties choose the broadband services provided by now.com.hk which have been launched for more than one month.

Li added that the company has invested US$300 milion in Cyberport and everything proceeds as scheduled and there is no financing problem. The company has also invested more than $4 billion in the PRC since there lies more room to develop in the Mainland market when it is compared with Hong Kong .




Reach rumoured to take over assets of Level 3
2001/11/26

(News(]Alles_klar [)
The "Hong Kong Economic Times" reports citing a source that after giving up constructing its own fibre optic network, Reach, the network backbone joint venture company of PCCW (0008) and Telstra, is looking for other means to increase its network capacity. The source said that Reach is negotiating with US fibre optic network company Level 3 for an important transaction which may be related to acquisition of Level 3 assets. Another sources said that the negotiation may even lead to merger of Reach and Level 3.

However, the sources had not said whether PCCW and Telstra need to inject capital for the transaction or PCCW`s shareholding in Reach might be reduced.





Wong: PCCW`s complaint about i-CABLE not received
2001/11/26

(News(]Alles_klar [)
Anthony Wong, Director-General for Telecommunications, said that the Office of the Telecommunications Authority (OFTA) had not received letter from PCCW (0008) urging the OFTA to require i-CABLE Communications Limited (1097) to open its hybrid fibre coaxial cable (HFC). Linus Cheung, Deputy Chairman of PCCW, said last week that PCCW will write to the OFTA for the purpose.

Wong said that local fixed telecommunication network services (FTNS) providers have opened 30% last mile and are expected to open up to 50% by the end of next year. He stated that the OFTA was determined to open up the fixed telecommunication networks.

Alles_klar

[Alles_klar]

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Reach: Reports on its talks w/ Level 3 groundless
2001/11/26

(News(]Alles_klar [) The spokesperson for Reach, the network backbone joint venture company of PCCW (0008) and Telstra, told Infocast that the news report regarding its talks with the US fibre optic network company Level 3 is groundless.

On the other hand, the spokesperson for Level 3 declined to comment.

Reach spokesperson said that the company is always in talks with other companies for business development.

Alles_klar

[Alles_klar]

PCCW NEWS Alles_klar


PCCW said to open bonds issue arrangement for banks
2001/11/27

(News(]Alles_klar [) A source from banks said that PCCW (0008) intends to open bonds issue arrangement for all banks, provided that they can raise an amount of not less than US$200 million by issuing bonds to public. The new managers will replace the original lead managers, Morgan Stanley, JP Morgan Chase, Barclays Bank and HSBC, who intended to raise US$3 billion for PCCW.

On the other hand, it is reported that the management of PCCW is requesting the heads of different departments in the company to submit job-cut lists with sequence of laying off. However, the spokesperson for PCCW has denied the report.

Alles_klar

[Alles_klar]

PCCW NEWS Alles_klar

Telstra: harsh envir leads to delayed dev of Reach
2001/11/27
(News(]Alles_klar [)
Dick Simpson, Chairman (Hong Kong region) of Telstra, said that the development of Reach, a joint venture company formed with PCCW (0008), had not met original estimation because of harsh global telecom environment.

Bloomberg reported this morning citing a source that the revenue of Reach may be 20% lower than was estimated by PCCW and Telstra in February.

Simpson would not comment on whether Reach was going to acquire assets of Level 3.



Wharf New T&T suggests PCCW (0008) split into two
2001/11/27
(News(]Alles_klar [)
Wharf New T&T Director Tony Cheung suggested that PCCW (0008) should be split into two independent institutions, one for fixed network sale and the other network wholesale, since studies are being carried out to decide if it is appropriate to spin off British Telecom to solve the problems in relation to interconnection and market competitions.




Wharf New T&T proposes unconditional FTNS market opening
2001/11/27
(News(]Alles_klar [)
Wharf New T&T Director Tony Cheung said that the company will submit in black and white its suggestions and standpoint to fully support an unconditional opening of the local fixed network market today, the day marking the end of consultation on the opening of the fixed network market. He stated that the suggestions include no cap set for both the licence number and investments. New T&T would urge OFTA to tighten supervision and solve the interconnection problem arisen from PCCW (0008).

Cheung claimed that though there are no anti-competitions rules, there is informal regulation for such practice. He expected that OFTA can have tighten their control towards this matter and suggested to PCCW to split into two units - distribution and wholesale of fixed network service to resolve issues relating to interconnection.

He claimed that new operators can no longer survive if OFTA does not change their regulation. He underlined that the company does not mean to ask the Government to stand by protectionism and to offer prerequisites for market opening.


Alles_klar

[Redbull7]

[Alles_klar]

PCCW NEWS Alles_klar


Reach said to buy Level 3 Asia undersea cable
2001/11/28
(News(]Alles_klar [)
Reach, the JV of PCCW (0008) and Telstra, will consider during the board meeting later this week to acquire Level 3`s A$1 billion worth Asia undersea cable, The Australian reported, citing unnamed source.

The newspaper noted that Reach may only need to take up a capital investment of US$80 million over the cable. It also said that although the transaction may cause losses to Level 3, the latter hopes to be able to have the transaction done by the end of this year in order to lower tax expenses arisen from bonds redemption.


Li: PCCW internal resources enough for Cyberport
2001/11/28
(News(]Alles_klar [)
PCCW (0008) Chairman Richard Li said that all of the capital for the Cyberport project will be satisfied by the internal resources of PCCW as he claimed that the resources of the company are sufficient.

Meanwhile, Li stated that the Government will be in charge of the managment and the setting of the rental fee for the leasing matters of Cyberport, and therefore the company has no rights to intervene. What the company mainly does is on planning and preparation.

Being asked if the Cyberport project will bring profits to the company, Li only replied that the project is very meaningful.


Li: PCCW`s (0008) B2B biz to have 2-digit growth
2001/11/28
(News(]Alles_klar [)
Asked whether PCCW (0008) might cut jobs again, Richard Li, Chairman of PCCW, said that continuous assessment on its efficiency has made. He said it would be too breath-taking to clarify on each rumour about the company.

He said that although there are large fluctuations in European and US technologies, the majority investors of technologies have changed from retail buyers to institutional investors. He also estimated that PCCW`s B2B business will grow by two digits.


PCCW (0008) has no shr placing or bonds issue plan now
2001/11/28
(News(]Alles_klar [)
PCCW (0008) Chairman CEO Richard Li projects that the company`s IT business and EBITDA will see a double-digit growth since half of the income came from enterprises information serivces in the first half of the year.

He adds that in the short run PCCW has no need to place shares, and for the moment it is also not necessary to issue any bonds.


PCCW (0008) intends to acquire IPLC asset at low prc
2001/11/28
(News(]Alles_klar [)
Richard Li, Chairman of PCCW (0008), declined to comment on whether its joint venture company with Telstra, Reach, is to take over assets from Level 3. However, he estimated that an emerging company engaged in international private leased circuit (IPLC) operation is expected to end its operation in one year, and Reach will consider to acquire such asset if the price is half of the cost needed for Reach to construct its own IPLC. Li also said that Reach does not intend to seek new shareholders.

Other than the rumour about acquiring Level 3, Reach is also reported by an Australian newspaper to be going to acquire Level 3`s IPLC in Asia.


FS: US confirmed recession no harm to HK
2001/11/28
(News(]Alles_klar [)
The Financial Secretary Antony Leung said that the news that US is confirmed to be in an economic recession is unlikely to further hit the Hong Kong economy since the finding regarding US economy has been expected.

Leung stated that the Cyberport project gives rise to an encouraging response since tht total area applied for leasing already exceeds the actual area to be supplied. He added that hi-tech development cannot solely depend on the situation of the stock market.

Meanwhile, he said that there are fewer re-exports in Hong Kong from the PRC mainly because of the lower cost in the ports in the PRC. Yet he stated that Hong Kong can deal with this situation, say increase the times of delivery to increase stock flow to reduce costs and to enhance competitiveness.

He underlined that rapid cargo handling is one of the advantages of Hong Kong. At the same time, he underlined that the Government will aggressively promote the development in the field of logistics.


http://www.infocastfn.com/infocast/img/logo.gif

Alles_klar [/i][/b]

[Alles_klar]

PCCW NEWS Alles_klar



PCCW (0008) to re-launch iTV in new look on Dec 3
2001/11/29
(News(]Alles_klar [)Jeffrey Chan, Vice-President of Content Strategy & Special Projects of PCCW (0008), said that iTV will be launched again in a new look on December 3, by then 700 hours of programmes will be launched and preferences will be provided to the company`s broadband connection subscribers. At present, the broadband subscribers can watch 100 programmes by paying a monthly fee of $100.

Chan said that iTV only had 40,000 customers in the last quarter, and the company looks to have more customers by giving the services a new look.

The monthly fee of $100 already include the charge for set-top box.

He also said that after launching the 700 hours of programmes next month, there will be at least 100 hours of new programmes each month.

The company intends to cancel the waiver of $30 monthly fee for registrating as now.com.hk customers, and it had not decided whether there will be new preferential offers by then.



AGC not to sell HGC stake or buy Level 3 assets
2001/11/29
(News(]Alles_klar [) John Legere, Chief Executive Officer of Global Crossing and Asia Global Crossing (AGC), said in Hong Kong that the group has no intention to sell the stake in Hutchison Global Crossing (HGC), which is a joint venture company of AGC and Hutchison Whampoa (0013), nor to acquire the assets of US fibre optic network operator Level 3.

He said that HGC, which had been performing satisfactorily, had not delayed laying its fibre optic network.

Level 3 reportedly intends to sell its assets and PCCW (0008) is a potential buyer, he said that AGC will not buy the assets from Level 3, citing the overlapping of their IP backbone and IPLC.



AGC and Hutchison Whampoa each holds 50% stake in HGC.
CLSA cuts earning forecast for PCCW (0008)
2001/11/29
(News(]Alles_klar [)CLSA has cut the 2001 EBITDA forecast of PCCW (0008) by 4.3% and EPS by 16.6%, citing the weakness of Reach, the JV company of the company and Telstra, and potential provisions on venture capital investments. The end-2001 SOTP value has fallen from $2.97 to $2.82 per share. However, the firm lowered its cost of equity assumption by 50bp, leading the end-2001 SOTP value back to $3.08.

The firm thus raised the 12-month target price to $2.99 per share, based on the end-2002 SOTP value.

Reach is reportedly unable to meet its full-year EBITDA guidance of US$470 million and the difference will be as much as 20%. The brokerage firm believes that is likely the case given the slower-than-expected corporate data demand growth in a weak economy. The firm have assumed much lower volume growth in 2002, and slightly lower pricing.

The firm trimmed the forecast for PCCW`s 2001 net profit by 16.6% to $1.875 billion, 2002 net profit by 14.3% to $2.89 billion and 2003 by 10.9% to $2.818 billion.


Alles_klar

[Alles_klar]

PCCW NEWS Alles_klar


PCCW (0008) said to to raise US$657M by bonds offer
2001/11/30
(News(]Alles_klar [) PCCW (0008) intends to issue US$657 million-equivalent euro and sterling bonds, Bloomberg reported, citing bankers.

The bankers said that PCCW plans to raise EUR500 million (approximately US$443 million) of 10-year bonds and about GBP150 million (approximately US$214 million) 15-year bonds. The fund raised will be used for repaying the company`s repayments of over US$5 billion debt.

The sale of the bonds will start next week.


Alles_klar

[Cityhai]

Freitag 30. November 2001
PCCW gibt Euro- und Pfundanleihen aus





Die Gerüchte um weitere Anleihen von PCCW reissen nicht ab. Heute ist aus Bankenkreisen zu erfahren, dass das Hongkonger Telekom- und Internetunternehmen Euro-Anleihen in einem Volumen von 500 Mill Euro ausgeben will. Zusätzlich soll noch eine 150 Mill Pfund-Anleihe ausgegeben werden.
Der Verkauf der Bonds soll in der nächsten Woche starten.

Mit dem Geld will PCCW seine Verbindlichkeiten in Höhe von 5 Mrd US-$ zurückzahlen.

[Alles_klar]

PCCW >> << NEWS



PCCW(0008): no immediate plan issuing bonds
2001/12/01

(News(]Alles_klar [)
PCCW (0008) said that has no immediate plans to access the Euro denominated debt market, but confirmed PCCW has been approached by a number of financial institutions about the postive tone of the Euro denominated debt market.

Foreign agency quoting banking sources that it would sell up to 500 million euros in the 10-year bonds to repay part of its bank borrowings, with the pricing to be announced on Monday. The bond issue was said to be for core telecommunications unit PCCW-HKT.


Alles_klar

[Alles_klar]

PCCW >> << NEWS


OFTA said to require PCCW (0008) to lower charge
2001/12/03

(News(]Alles_klar [) The Office of the Telecommunications Authority (OFTA) is studying to require PCCW (0008) to calculate the type II interconnection fee according to present cost, which means requesting PCCW to charge less on other FTNS operators, Ming Pao Daily News reports, citing a source close to the Government.

The newspaper said that the Government is ready for bringing the case to the court if there becomes dispute between the OFTA and PCCW on the cost calculation. Although the Government cannot directly request PCCW to lower its charge, the OFTA is entitled to arbitrate PCCW`s charge calculation according to present cost.



Alles_klar

[Alles_klar]

PCCW UPDATE TIME: 12:29 >> << 2.150 HK $ -3.37%

[Alles_klar]

PCCW >> << NEWS





PCCW (0008) said to sell 2cube Securities
2001/12/04

(News(]Alles_klar [) The controller of 2cube Securities Limited, an online broker formed by PCCW (0008) and Chase JF, is looking to sell the controlling stake of the company, the Hong Kong Economic Journal reports, citing sources.

The report says that CASH Financial Services Group Limited (8122) and Quamnet.com, a subsidiary of Quam Limited (0952), have both talked with 2cube. However, they all gave up acquiring the company for high operation cost of 2cube.




PCCW (0008) said put off PCCW-HKT spin-off listing
2001/12/04

(News(]Alles_klar [)PCCW (0008) entered into agreements with creditor banks when seeking a US$4.7 billion refinancing syndicated loan early this year whereby the company planned to spin off its subsidiary PCCW-HKT for listing and to issue bonds for partial debt repayment. However, the company put off the plan and would only issue bonds due to the unsatisfactory situation in the stock market this year, reported Hong Kong Economic Journal as sources from the concerned bank creditors saying.




Alles_klar

[Redbull7]

[Alles_klar]

@ Redbull 7 Alles_klar?



PCCW >> << NEWS




PCCW (0008) cuts 506 jobs

2001/12/05 (News(]Alles_klar |)
PCCW (0008) has announced to lay off 506 employees.




PCCW (0008) not give assurance no further layoff

2001/12/05 (News(]Alles_klar |)
In a letter to the company staff today, PCCW (0008) Chairman and Chief Executive Richard Li said that the company has made 506 employees of the group in Hong Kong redundant out of the total number working in Hong Kong of approximately 14,000. The redundancies have been spread across the group in Hong Kong. The employees laid off represent 3.61% of all employees. Li said that it is not possible to give assurance that there will be no further redundancies.

Li also said that the company will implement immediately a wage and headcount freeze for the next year and reward those employees within the group who make siginificant contributions. The group will also introduce new incentive arrangements for high achievers. Details will be announced shortly.




PCCW (0008) to save $190M annually by job cuts

2001/12/05 (News(]Alles_klar |)
PCCW (0008) said that after laying off the 506 employees, the group can save $190 million expense each year.




PCCW (0008) to make $78M one-time charge for job cut

2001/12/05 (News(]Alles_klar |)
PCCW (0008) said that it will post a one-time charge of $78 million for the year 2001 for the lay-off.




PCCW union: Lay-off may aim at active members

2001/12/05 (News(]Alles_klar |)
Terry Ip, PCCW (0008) Staff Association Chairman, made a strong protest against the company`s newly announced lay-off, citing the slimmer compensation.

Ip said that the compensation for the fired workers this time are capped at six-month pay, in comparison with the nine-month pay for those eliminated in July. He also complained that the company did not reveal the reason for the lay-off this time. The company claimed the job cut in July is owing to the outsoure of Internet operations. He said the union has contacted the management for the matter, but the company has yet to make a reply. Neither has the company told them which division will be affected by the latest lay-off.

He personally thinks that the staff retrenchment may target at the active member of the union, because most of the fired staff had voiced their opinion to the company.

No member has asked for the union`s help so far, he said.



Alles_klar

[Redbull7]

Alles_klar?

mfg

[Redbull7]

[Alles_klar]

PCCW >> << NEWS


PCCW (0008) closes in NY at $2.25, $0.05 higher


2001/12/06(News(]Alles_klar [) After PCCW`s (0008) announcement to cut jobs yesterday, the stock closed yesterday in Hong Kong at $2.2, up 1.15%. The ADR in New York gained US 6 cents more, or 2.12%, to US$2.89, which was equal to $2.25 per ordinary share and had a premium of $0.05 over the Hong Kong close price.




GS: PCCW (0008) reasonable price $2.1


2001/12/06 (News(]Alles_klar [) Goldman Sachs stated in its report that the current share price of PCCW (0008) has already reflected its reasonable market value since there are no other favourable news though PCCW outperforms other telecommunications stocks.

PCCW (0008) rose by 2.27% and stands at $2.25.





06.12.01 UPDATE Hongkong TIME: 12:29 +2.27% = 2.250 Hk $






Alles_klar

[Redbull7]

alles klar

[Alles_klar]

Alles_klar

[Alles_klar]

PCCW (0008) R. Li

PCCW is positioning to benefit from the rapid growth in demand across the Asia region for new Internet and communications services. the business models and technologies for these services are still developing and have been subject to fundamental change in the past year.

The priorities for 2001 are to deliver stable, improving results form the core telecommunications businesses, strengthen the balance sheet and reduce debt, and build growth businesses and develop regional opportunities, especially in Greater China.


Alles_klar

[Alles_klar]

So Long PCCW

Hi, @ oll Popels

I wish you a Merry Christmas and a Happy New 2002 Year.

God Bless You
Alles_klar, and my family.


SOLBAD HALL & MELBOURNE

[Redbull7]

alles_klar

[50Penninge]

@ W:0 ist der User Alles_klar geblieben?

Der Werbevertrag für Brillenputztücher ist wohl ausgelaufen, oder doch abgelaufen?

[DosPlayers_zwo]

Vater& Sohn

Es war einmal ein, so fangen alle Märchen an

..der alte Mann wohnte an einer Überlandstraße und verdiente sich
seinen Lebensunterhalt mit dem Verkauf von Currywurst am Straßenrand.

Seine Ohren waren nicht so gut,
darum hörte er nie Radio. Seine Augen waren nicht so gut,
darum las er nie Zeitung. Gut aber war seine Currywurst,
die er verkaufte und er stellte Schilder an die Straße,
um dies der Welt mitzuteilen. Auch stand er
selbst an der Straße und rief: "Eine Currywurst gefällig?"
Und immer mehr Leute kauften bei ihm.

Er erhöhte seine Bestellung für Würstchen und Brötchen.
Er kaufte sich einen größeren Grill, um mit dem Geschäft Schritt zu halten.
Schließlich brauchte er einen Helfer und
holte seinen Sohn vom College zurück.
Und folgendes geschah:

Der Sohn sagte: "Vater, hast Du denn nicht im Radio gehört?
Hast Du denn nicht in der Zeitung gelesen?
Wir haben eine riesige Rezession! In Deutschland ist die Lage schlimm.
Bei uns in Nordfriesland ist sie noch schlimmer.
Alles geht vor die Hunde."
Worauf sich der Vater sagte: "Mein Sohn war auf dem College.
Er liest Zeitung und hört Radio. Er wird es ja wohl wissen."

Daraufhin reduzierte er seine Bestellungen für Würstchen
und Brötchen, nahm seine Reklameschilder herein
und sparte sich die Mühe, sich selbst an die Straße
zu stellen und seine Currywurst anzupreisen.
Und praktisch über Nacht brach sein Geschäft zusammen.

"Du hast recht mein Junge", sagte der Vater zum Sohn, "wir befinden uns wirklich in einer gewaltigen Rezession."

[Redbull7]

[Redbull7]

Frohe Feiertage allen!

[50Penninge]

[Alles_klar]

moin,


UPDATE TIME: 15:20
Nominal Price ($) 2.375

% Change + 3.26



PCCW >> << NEWS


The "Australian Financial Review"
reports that the Office of the Telecommunications Authority (OFTA) of the Hong Kong SAR is reviewing whether Reach, a joint venture company of PCCW (0008) and Telstra, is monopolising the Hong Kong market. After the acquisition of Level 3`s assets in Asia, PCCW has further enhanced its importance in the Hong Kong market.

OFTA replied that it is studying the issue and will consult the market about the market share of Reach after acquiring the Level 3 Asian assets.

Reach acquired the Asian assets of Level 3 last December at a discount of 65% and undertook to fund investments by the Asian operation of Level 3.


PCCW >> << NEWS


PCCW (0008) has amended its agreement with Trans World International (TWI), a sports programmes provider in the UK. Goldman Sachs said that the new agreement will help cut PCCW`s costs at the Internet business in the long run and give PCCW some flexibility to meet (and possibly reduce) its Internet business unit EBITDA loss expectations of US$100 million over 2002/2003.

Goldman Sachs said that the near-term impact on the loss at the Internet business will likely be limited due to the cost of terminating the original agreement. PCCW estimates the costs to be US$11.2 million, but it is not clear when PCCW will book these charges, although it is likely the company will be incurred in fiscal 2002.

The broker maintains its `Market Performer` rating for the stock.


PCCW >> << NEWS


The business of NOW of PCCW (0008) will focus on sports and online games while Trans World International Inc. (TWI), a sports programme producer and provider in the UK, will stop offering the English version of NOW`s content for PCCW. PCCW predicted that a workforce of 400 of the UK production team will be sacked, the moves are expected to save $300-400 million a year.

PCCW yesterday announced to have entered into a number of new agreements of cooperation with TWI whereby PCCW will be granted a 10-year licence for the production of sports and game programmes in Asia at a consideration of about $775 million, and TWI will terminate the 10-year provision of English NOW content this month.


PCCW >> << NEWS

[Alles_klar]

moin



Source from Salomon Smith Barney

· PCCW has added another US$250m to its recent US$750m 10-year bond issue. The new issue vas priced at 315bps over 10-ys US T-bonds.

· This is positive for the stock - it makes sense for PCCW to lock in as much long term debt as possible at prevailing low interest rates. We could see some more debt refinancing in the next 3-4 months.

· This will help further reduce PCCW`s financial risk and long term borrowing costs, but will not have any meaningful impact on the 2001 or 2002 earnings estimates. The increase in short term borrowing costs will be offset by the larger-than-expected recent decline in interest cost for the remaining LIBOR based floating rate debt, and possible tax savings (to the extent existing debt is rapid using cash reserves)

· Upside from current HK$2.40 appears limited. However, aggressive cost cutting or sale of non-core assets could see stock head higher.


Cable and Wireless HKT (0008) PCCW – OUTPERFORM
Alles_klar

[Alles_klar]

UPDATE TIME: 16:00

0008

Nominal Price ($) 2.325

% Change -2.11



PCCW (0008) - MARKET PERFORMER


Source from Goldman Sachs


· In a new report following PCCW`s 1H2001 results, we conclude the results were generally sound and that good EBITDA margins provide evidence of operational stability, but fixed-line market share loss is a concern. After additional guidance from the company, we have revised our EBITDA estimates. Although this represents a trimming of our estimates, the net effect on our pre-results estimates is to raise core EBITDA 4%-6% in 2001-2003. Our adjusted EBITDA has risen 1.8% to HK$9 billion in 2001, 3.4% to HK$10.1 billion in 2002, and 4.7% to HK$11.2 billion in 2003.

· PCCW`s local access market share loss accelerated
to 180 bp in 1H2001 from being relatively flat in 2H2000. Accelerating market share loss is a concern given local access revenues represent 36% of the company`s telecom services revenues and a disproportionately higher share of EBITDA (45%-47%).

· The interim results of CSL and Reach were generally in line with our expectations. CSL was the standout, with superior EBITDA margin growth expansion. Reach, on the other hand, demonstrated it was in transition from a voice focus to a data-centric business model.

· While in absolute terms the PCCW stock price has fallen sharply in the last 12-18 months, the problem remains that the implied valuation is at a 26% premium to its peers.
The problem is compounded by the lack of clear near-term catalysts that could either dramatically alter the fundamentals or improve sentiment.


Alles_klar

[Alles_klar]

moin



UPDATE TIME: 16:05
PACIFIC CENTURY CYBERWORKS LTD
Close ($) 2.275

% Change -2.15




so long, who LONG


Alles_klar?,

[Alles_klar]

SchneeMann?

Warum ist ein Mann wie ein Schneesturm? Keiner weiß, wann er kommt, wie viele Zentimeter er mitbringt und wie lange es dauert!



Alles_klar

[Alles_klar]

Yuan, Yuan,



…Alles_klar

[Alles_klar]

Yuan, Yuan money, money

Director no comment on PCCW`s (0008) euro bond issue


Fred Ma, Executive Director of PCCW (0008), reiterated this morning that the company cannot
guarantee there will not be further lay-offs.
He declined to reveal whether there will be job-cuts in the near future
or whether the company is planning to offer EUR500 million bonds.




…Alles_klar

[Alles_klar]

Switch to PCCW- HKT 10-year bonds: analysts
HONG KONG) Investors should switch from Singapore Telecom bonds due in 2011 into Pacific Century CyberWorks` core telecoms unit PCCW-HKT`s 10-year paper to boost yield in anticipation of a spread tightening on the Hong Kong telco`s bonds.
Credit analysts at UBS Warburg and HSBC recommend selling SingTel`s AA-minus rated 6.375 per cent bonds which they say have reached fair value and are ripe for profit-taking after spreads tightened 65 basis points (bps) over US Treasuries from 185 bps over at launch in November.
`We see better value in PCCW-HKT `11s and recommend investors sell into the recent strength (of SingTel `11s),` HSBC said in a client note.
Both HSBC and UBS Warburg say investors have a better bet in BBB-rated PCCW-HKT 7.75 bonds due 2011, despite a huge 110 bps tightening in spread to 250 bps over Treasuries since their November launch.
Despite that rally, PCCW-HKT `11s are still considerably cheaper than other similarly-rated telco papers and analysts anticipate a further squeeze in spreads.
A switch from SingTel `11s into PCCW-HKT `11s would result in a yield pick up of 126 bps, UBS Warburg calculated. `We believe that the credit is under-valued and there is room left for further tightening,` said UBS Warburg, which targets a spread of 230 bps over Treasuries for the Hong Kong telco.
UBS Warburg said fundamentally the bonds should trade tighter than this target but supply considerations could limit the near-term upside.
HSBC said concerns regarding the Hong Kong telecoms firm`s risks related to its Internet-focused parent company Pacific Century CyberWorks, and potential new supply were overdone.
CyberWorks has been the focus of market speculation for weeks after making three successful trips to the global capital markets in the final three months of 2001 to raise US$1.25 billion. Asia`s bond markets are swirling with talk that the company is set to launch a 500 million euro (S$824.7 million) offer which will be the first major corporate deal in the region this year. - Reuters


http://business-times.asia1.com.sg/mnt/static/image/masthead/comps_mkts.gif

…Alles_klar

[Paraskevi]

[Alles_klar]

.











Alles_klar




.

[Alles_klar]

PCCW >> << NEWS



R Li: Employment to be considered on FTNS mkt opening


Referring to the Government`s announcement of the complete openness of the FTNS market in 2003, PCCW (0008) Chairman Richard Li said that the issues related to the employment, economy and re-investments should be considered when the said policy comes into force since choices to consumers without re-investments are beneficial to consumers but not conducive to the local economy and employment.Li denied that the openness of the concerned market imposes pressure on the company and meanwhile stated that the company has no plans of further staff dismissal and increase in phone charges.And, 6 PCCW staff representatives yesterday launched a demonstration to request Chief Executive Tung Chee-hwa to review the criteria for the issue of FTNS licences, to maintain fairness and transparency on licence issue and to be considerate about the living of workers in the field of telecommunications so as to avoid any more lay-offs.



PCCW >> << NEWS



PCRD issues $780M PCCW exchangeable bonds to Intel

Pacific Century Regional Developments Ltd, the parent company of PCCW (0008),
said it will issue US$100 million (about $780 million) exchange
able bonds due 2006 to 2007 to Intel Capital Corp, a subsidiary of Intel Corp (4335).

The exercise price is set at $2.50 each. Assuming a full conversion of the bonds,
Intel will get 1.4% stake of the company.




PCCW >> << NEWS


Alles_klar

[Alles_klar]

BEA (0023)& PCCW (0008) said to cut staff again

It is said that Bank of East Asia (0023), which axed 200 staff last week,
plans to carry out lay off again this weekend whereas PCCW (0008),
which fired 500 staff last month, will sack 700 workers today,
Oriental Daily reported.

The report stated that the personnel department of the bank
prepared lay-off notification letters for 500 employees last Thursday
but finally decided to put off part of the lay-off for fear of chaos resulting
from the large-scale staff retrenchment.




++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++




ADRs end dn 4% at $2.184

The loss of US technology stocks dragged
down ADRs of PCCW (0008) by 4.1% to US$2.8,
equivalent to $2.184 per ordinary share listed in Hong Kong.
The closing price in the US represents a 4% fall from the closing
share price in Hong Kong at $2.275 per share.


Alles_klar

[Alles_klar]

Yuan, Yuan,


Pacific Century CyberWorks (0008) - OUTPERFORM


Source from Salomon Smith Barney

Summary

PCRD`s (PCEN.SI, Not rated) US$100m CB issue to Intel offers the latter a coupon of 3% p.a. and conversion into 312mn PCCW shares (1.4% of total) at HK$2.50/share - a 10% premium to Friday`s close.

According to PCCW, this transaction is not related to Intel`s options to convert its stake in Pacific Century Convergence (PCC) into 1bn shares (4.3% of total) of PCCW. We note Intel had exercised options worth 480m PCCW shares by Sep-01 and these are under lock-up till 2004.

Effectively, PCRD`s bond issue will help monazite part of its stake in PCCW, reducing its discount to the latter (trading at a ~52% disc). This has no impact on our PCCW estimates, but it does signal the continuation of Intel`s relationship with the PCRD/PCCW group.

Maintain Outperform, High Risk rating for PCCW.



Suggested price: HK$2.275 (11/01/2002)



Alles_klar

[Alles_klar]

Yuan`$, Yuan`$ Yuan`$, Yuann`$



PCCW (0008) issues $3.51B CB, strike prc $2.75 [/b

To cut debt, PCCW yesterday issued US$450 million (about $3.51 billion) five-year convertible bonds through Morgan Stanley. The strike price of the bonds is $2.75 per share, at a 23% premium over the close price in Hong Kong. The coupon rate and bond-yield are 1% and 4.5% respectively. The redemption price is at 117.9-120.9.

Morgan Stanley has an option to issue an additional 15% bonds to increase the proceeds to US$517 million (about $4 billion). The bonds are guaranteed by PCCW-HKT Telephone.


PCCW (0008) closes in US at $2.0982, 5.7% softer

[/b]After announcing to issue up to US$3.51 billion convertible bonds, PCCW`s (0008) ADR became under pressure last night. The ADR price went down by 2.9% to close at US$2.69, or $2.0982 per ordinary share, 5.7% softer than the Hong Kong close.

For reduction of debts, PCCW yesterday issued US450 million ($3.51 billion) five-year convertible bonds through Morgan Stanley. The strike price of the bonds is $2.75, with a 23% premium over the close price in Hong Kong.


S&P rates PCCW (0008) convertible bonds `BBB`

[/b]Standard & Poor`s today assigned its triple-`B` senior unsecured debt rating to PCCW Capital No.2 Ltd.`s proposed US$400 million 5-year convertible bond issue. The bonds will be jointly and severally guaranteed by PCCW-HKT Telephone Ltd. and Pacific Century CyberWorks Ltd. (0008).


S&P: PCCW (0008) unutilized credit facilities $3.5B

[/b]Standard & Poor`s said PCCW-HKT Telephone Ltd. continues to generate steady operating cash flows, with annual EBITDA of about US$1.2 billion. Currently, the PCCW group has unutilized and committed credit facilities of US$450 million (about $3.51 billion).

The rating agency said in recent months, the company has been actively tapping the debt capital markets to secure a more favorable debt maturity structure. HKT`s current debt level stands at US$4.15 billion, including US$250 million of guaranteed group debt. Internal cash flow generation is expected to remain strong and allow the company to continue to gradually repay its debt obligations. EBITDA to interest coverage is about 3.5 times.


PCCW-HKT local tel services turnover up 9%

[/b]In the six months ended 30 September, 2001, PCCW`s (0008) subsidiary PCCW-HKT Telephone`s local telephony services recorded a 8.6% increase in turnover to $3.972 billion while the international telecommunications services recorded a slight decrease of 0.05% to $2.028 billion.

During the period, the turnover of the local data services increased by 5.1% to $1.927 billion and that of the other services decreased by 28.8% to $302 million. PCCW-HKT Telephone`s total turnover in the period was up by 3.6% to $8.229 billion.


PCCW-HKT 1H EBITDA $5.1B, incomparable w/ a/c principle

[/b]PCCW (0008) announced that the unaudited EBITDAs of its subsidiary PCCW-HKT Telephone for six months ended September, 2000 and 2001 were $4.933 billion and $5.122 billion respectively. However, PCCW reiterated that the EBITDAs of PCCW-HKT Telephone are not necessarily comparable with similarly titled measures for other companies.

The company stated that EBITDA represents profit for the period before interest, taxes, depreciation and amortization. EBITDA is not a term used under Hong Kong generally accepted accounting principles. EBITDA should not be construed as a substitute for operating profit, profit for the period or cash flows from operating activities for the purposes of analysing PCCW-HKT Telephone`s operational performance, financial position and cash flows.


PCCW-HKT 1H NP down by 25% to $2.6B

[/b]Pacific Century CyberWorks (PCCW) (0008) announced that the turnover of its subsidiary PCCW-HKT Telephone grew by 3.6% to $8.229 billion for the six months ended September 2001, but the profit after taxation dropped 24.9% to $2.648 billion during the period.

During the period, the operating cost of PCCW-HKT Telephone rose slightly by 3.8% to $4.106 billion; the operating profit climbed by 3.3% to $4.123 billion but the net finance cost amounted to $844 million, hence dragging down the company`s profit before and after taxation. For the period in 2000, the company recorded a net finance income of $149 million.

The net asset value of PCCW-HKT Telephone as at the end of September, 2001 increased by 30.3% to $21.356 billion.





…Alles_klar

[Alles_klar]

Yuan $, Yuan $ Yuan $, Yuan $



Hongkongs dominierende Telekommunikation und Internetfirma PCCW
[/b] closes in US at $2.69, 2,89% softer 17/1/2002



…Alles_klar

[Alles_klar]

Hi, Hey, Hallo


Hongkongs dominierende Telekommunikation und Internetfirma
PCCW closes in USA at $2.62, -)(-2,60% 18/1/2002



Merrill: PCCW unlikely to pay dividend before `04


Merrill Lynch stated in its report that it
does not expect PCCW (0008) to pay dividends
before 2004 though convertible bonds have been issued.

The firm pointed out that PCCW is selling a US$400 million (US$460 million subject to the 15% greenshoe) convertible bond, estimating that post-taxation interest expenses of about US$12 million (about $93.6 million) (equivalent to $0.0035 per share, or 2% EPS) will be saved in 2002, and around US$26 million ($0.0076 per share, or 4% EPS) in 2004 as the interest rate is expected to be lifted.

However, the above interest savings would be more than offset
by the potential 5.1%-5.8% dilution impact. While a conversion will likely have a dilution effect, it may help bring down the company`s gearing ratio in the long run. Yet the short-term convertible bonds will still be counted as debts in the calculation of the bank covenant which PCCW-HKT has to observe for, therefore dividend payment by PCCW-HKT is still restricted.

As proved by the statistics, PCCW-HKT has reduced its total debt by
US$500 million using internal cash. This is in addition to
the debt refinancing amounting to US$1.25 billion. Hence, the firm expected PCCW and PCCW-HKT to reduce its Debt/EBITDA ratio to below 3.5x within this year, moving to the next covenant bracket of
75% dividend payout, or US$525-600 million per year. Merrill Lynch forecast that the most immediate need for the funds would
be in Cyberport. This, with the fact that PCCW`s equity will likely remain negative until 2004, makes the firm believe that it will not be able to pay dividends in the near term



Goldman: PCCW to cut interest cost by CB issue


As PCCW (0008) may issue up to US$460 million of convertible bonds, Goldman Sachs said that the issue would have the positive impact of refinancing a portion of debt. The brokerage raised its 2002 PCCW EPS forecast by 4%, 2003 by 4% and 2004 by 2%. The brokerage estimates that the convertible bonds were converted into 1.29 billion new shares (at $2.78), the EPS dilution may be 1.5-2%.

Goldman said that while the potential EPS impact would be positive, it would view a 2% dilution to 2002-03 EPS as negative for equity investors.

The proceeds are intended to partially refinance the 2006 tranche of PCCW-HKT`s syndicated debt. The firm said the tranche is the largest and will reduce the cost of PCCW by 5.34 percentage points to 1%.

The brokerage keeps its `Market Performer` stock rating for PCCW.



…Alles_klar



http://www.money.net/40images/ads/teaserbF.gif

[1201]

hi Dos Plaers hier iss was für dich


DIE mögliche Goldgrube für uns Bären in 2002:

DAX-Put
WKN 574586
Basis 2750
Laufzeit 13.12.2002

sollte es zu meiner Zielzone 2100-2300 P. im Spätherbst kommen, wird dieser Schein eine Prämie von 4,80 - 6,50€ aufweisen.
Aktuell ist er mit 0,32€ völlig und komplett überbewertet. Ich rechne damit das er im Februar im Bereich 3-5 Cent notiert. Dann wird zugeschlagen. 20.000% nicht nur auf den Nikkei, sondern auch auf DAX



Aber immer artig im hochspekulativen Bereich ansiedeln. 

Ich warte bis März, dann ist ersichtlich ob der Nikkei-Call aufgeht. Passt dieser, kommen 10% dieses Gewinnes ins DAX-Put-Körbchen, d.h. rund 20.000 Euro. Daraus dann 15.000% plus und wir haben das klassische Beispiel "mit einer Münze zum Millionär"

800 Euro in den Nikkei-Call, mit 160.000€ wieder raus.
Daraus 20.000€ in den DAX-Put, mit 3,0 Mio. € wieder raus.
Bruttogewinn abzüglich Einsatz und Gebühren = 3,14 Mio. €

Davon wäre rund 50% zum 01.01.03 fürs Finanzamt fällig, was in etwa 1,5 Mio. € sein werden. Die Steuererklärung schreibst du bis zum Jahresende auf und legst das Geld, was eigentlich schon dem FA gehört fest an, sagen wir zu einem Zinssatz von 5%.
Sind nochmals 75.000€ "geschenkt". & Die gehen dann in einen langlaufenden Gold-mall. Das Edelmetall sollte bis dahin nämlich auch soweit sein.

auf den Nikkei-Schein hab ich verzichtet, aber den Spaß mit dem DAX mache ich mit. Um mich davor aber moralisch zu stärken, warte ich bis zum 1. April . Aber dann sammle ich ein Körbchen voll ein, Ehrenwort.


bei mir ist das kein Lotto, sondern alles knallhart kalkuliert.


Der Schein ist von Goldman-Sachs. Falls sich der Nikkei-Call voll aufgeht, finden sich bestimmt einige die mit dem Gewinn daraus mitzocken.
Ein Traum: Insgesamt rund 100 Mio. € rein und 15 Mrd. €wieder raus. Ich will einmal in meinem Leben einen Emi. Zum Platzen bringen.

[Alles_klar]

Hi 1201 Alles_klar?





Hallo, Hey, Hi



Francis Yuen to focus on PCCW (0008) & PCI (0065) biz

PCCW (0008) Deputy Chairman Francis Yuen said that he resigns as director of Pacific Century Regional Developments Limited mainly because he hopes to concentrate on his contribution in the businesses of PCCW and Pacific Century Insurance (0065).



PCCW (0008): PRC biz to contribute 50% total income

William Cheung, Chief Operating Officer of PCCW (0008), cited by Hong Kong Economic Times said that half of PCCW`s income will come from mainland China in a few years, and the company will consider to operate mobile telecom and Internet ISP businesses in mainland if the opportunities arise.

The company plans to expand its workforce in the telephone services centre in mainland to 300 this year and to 900 in three years. The number of staff for the sales team and customer services will also be increased to 200.



UBS to issue 356M PCCW (0008) call warrants

UBS Warburg plans to issue 365 million call warrants on PCCW (0008).
The details are as follows:

Issue price: $0.2807

Strike price: 105% of the closing price
(indicative: $2.2575)

Reference spot: $2.15

Premium: 18.06%

Gearing: 7.66x

Entitlement: 1 warrant for 1 share

Expiry date: Launch date plus 6 months

PCCW share price now stands at $2.1,
down by $0.05 or 2.33%.



…Alles_klar

[Alles_klar]

PCCW >> << NEWS

Hongkongs dominierende Telekommunikation und Internetfirma PCCW
closes in HongKong at $2.100, )—( -2,150% 21/1/2002

[Alles_klar]

Hi, Hey, Hallo



Hongkongs dominierende Telekommunikation und Internetfirma PCCW
closes yesterday in USA

PCCW (0008) ADR in the US declined by 1.5% to US$2.58 yesterday, which is equivalent to $2.0124 per ordinary share and is 3% lower than the closing price of $2.075 per share in Hong Kong.


Ab heute werde ich wieder zu einen ehrwähnenswerten Preis,
bei den ehrenwerten ALDI Albrecht
zum kauf angeboten, -.85 € Alles_klar

[Alles_klar]

PCCW >> << NEWS



Hongkong Telecom`s Profit Slides


By Adam Creed, Newsbytes
HONG KONG, CHINA,
22 Jan 2002, 8:59 AM CST


Hongkong Telecom, the former Hong Kong monopoly fixed-line telephone company
owned by Pacific Century CyberWorks (PCCW) on Friday reported a lower half-year profit.

Hongkong Telecom`s profit fell from 3.52 million Hong Kong dollars ($451,853) to 2.65 million Hong Kong dollars ($339,531) for the six-month period ending Sept. 30.
But revenues grew to 8.23 million Hong Kong dollars ($1.06 million) from 7.94 million Hong Kong dollars ($1.02 million) in the same period last year, mostly thanks to increased revenue from local telephony services.
Local telephony makes up almost half of Hongkong Telecom`s business. Local data and international telephony revenues make up most of the balance and grew little between the two periods.


PCCW in December said it would sack 506 employees from a total workforce of 14,000 in Hong Kong. The redundancies were spread across PCCW`s fixed-line telephone, Internet, wireless and Internet protocol networking units.
PCCW Chairman Richard Li said the cuts were necessary because of the global and local economic downturn, and a result of increased competition since Hong Kong has opened its telecommunications market.

Exchange Rate: $1 = 7.8 Hong Kong dollars


…Alles_klar

[Alles_klar]

heute wird Alles_klar
zu einen ehrwähnenswerten Preis,
bei den ehrenwerten ALDI Albrecht
zum kauf angeboten, -.85 € / 50Stck.Alles_klar

[Alles_klar]

Hallo, Hey, hihihihihi



Hongkongs dominierende Telekommunikation und Internetfirma PCCW
closes in HongKong
at 2,025HK$ -1,22% softer 24/1/2002


Goldman: CLP telecom inv in Yes TV $150M/yr

CLP Holdings (0002) announced it will not proceed with Yes Television in its pay-TV joint centure. Goldman Sachs said in its report that it believes CLP`s withdrawal from the pay-TV is positive, because it reduces the risk profile of the group by lowering its exposure to the Hong Kong telecom/media market. According to CLP management, the costs to date are very minor. Goldman Sachs expects CLP`s future telecom initiatives to be very limited in scope. It maintains it Market Underperformer rating on CLP shares.

The broker has been assuming start-up costs of $150 million per year for 2001 and 2002 for the CLP telecom subsidiary (including the fibre-optic and ISP businesses), so it does not expect to increase the assumption following the announcement.

When announced in May 2001, the pay-TV platform was a central part of the IP-based telecom and media strategy. Without it, it seems CLP`s telecom ambitions are much reduced. Goldman Sachs believe CLP`s telecom business is likely to remain focused on rebranding PCCW`s (0008) broadband services and leasing capacity on its "ChinaLink" fibre-optic from Hong Kong to Shenzhen in China.


…Alles_klar

[Alles_klar]

Hallo, Hihihihihihi


Pacific Century CyberWorks stood flat at HK$2.03. A group of banks led by Citibank has offered the company a syndicated loan package worth $600 million to $800 million to refinance PCCW`s short-term debt, the Hong Kong Economic Times said.

Money for , Richard Li`s Internet investment vehicle Pacific Century CyberWorks



…Alles_klar

[Alles_klar]

PCCW >> << NEWS



Hongkongs dominierende Telekommunikation und Internetfirma PCCW
closes in HongKongat 2,050H-K$ / + 1,23%



PCCW (0008) pays off US$500M, less than expected


PCCW (0008) has paid off US$500 million of its US$4.7 billion syndicated term loan guaranteed by PCCW-HKT Telephone, reported Dow Jones Newswires, quoting PCCW Chief Financial Officer David Prince. The amount paid off is less than US$750 million as estimated by Standard & Poor`s in November last year.

S&P said in November last year that PCCW planned to use the proceeds from the US$750 million bond issue to partially refinance US$4.7 billion in syndicated bank loans. And the company also planned to prepay another US$750 million of the loans with its own cash reserves before the end of 2001. After the refinancing and prepayment, the US$1.5 billion 3-year tranche of the syndicated loans will be largely paid off. The rating agency said that it was consistent with the company`s stated objectives of reducing gearing ratio and extending its debt maturity profile.

However, PCCW stressed that it has never mentioned to use cash reserves for the planned prepayment of US$750 million as referred in November bond propectus.




PCCW (0008) Chmn increases stake by 2.2M shares


According to the SDI of the Stock Exchange, PCCW (0008) Chairman Richard Li bought 2.2 million PCCW shares at prices ranging from $2.075 to $2.15 per share during the period of January 18 to 22. The total consideration, based on the medium price per share, amounted to $4.65 million.




…Alles_klar

[Alles_klar]

Hallo, Hey, hihihihihi


News Headlines for Pacific Century Cyberworks Ltd.
closes in HongKong + - 0%

2.050 HK $



…Alles_klar

[Alles_klar]

PCCW >> << NEWS



Analysten-Bewertung
Aktueller Durchschnitt von insgesamt 14 Analysten: 2,36







Ok, Ok, Okhihihihihi

[Cityhai]

Fonds, die in diesen Wert investieren




PACIFIC CENTURY CYBERWORKS LTDSHARES HD -,05
Name WKN/Local ID Aktuell Datum Kursänd.
1 Woche Kursänd.
1 Monat Kursänd.
3 Monate Kursänd.
1 Jahr Kursänd.
3 Jahre Order
Baring Hong Kong &... 933583 195,67 28.01. +0,76% +2,83% +10,57% -13,33% -
Baring Hong Kong &... 972840 169,10 28.01. -0,50% -0,22% +7,55% -17,53% +65,39%
Balzac Umbrella Ind... 588768 780,86 28.01. -0,26% +0,81% +15,09% -23,19% -
DWS VentureCap Bask... 939852 35,64 29.01. +1,97% +2,06% +9,67% -40,59% -
Volksb.-Pacific-Inv... 974872 58,60 29.01. +3,99% +7,33% +5,46% -12,56% +43,34%

[Alles_klar]

Hallo,






PCCW completes CB issue & TWI transaction

Pacific Century CyberWorks Limited announced that the issuance of the US$450 million ($3.51 billion) convertible bonds was completed yesterday, and the share transaction with Trans World International, Inc. were completed last Thursday.

The company will issue further announcement if Morgan Stanley exercises the over-allotment option.

To cut debt, PCCW issued US$450 million five-year convertible bonds through Morgan Stanley in mid-January. The coupon rate and bond-yield are 1% and 4.5% respectively. The redemption price is at 117.9-120.9%. The convertible bonds are guaranteed by PCCW-HKT Telephone.

PCCW announced to restructure the operation of NOW by entering into several cooperation agreements with TWI. TWI has granted a ten-year free royalty non-exclusive right to PCCW for PCCW`s development of sports programme and online games in Asia. The total consideration for all of the new agreements is approximately $775 million, of which $376 million will be settled by issuing 175 new PCCW shares at $2.15 per share. The consideration shares represent 0.771% of the issued share capital.







PCCW launches ConXerto Commerce Product Suite


eSolution Business unveiled today its ConXerto Commerce Product Suite, employing collaborative commerce concepts that help businesses gain competitive advantages.

The ConXerto Commerce Products Suite`s development is based on R&D projects conducted by eSolution, including its professional at PCCW`s Shenzhen Software Development Center. eSolution is also conducting related R&D together with the City University of Hong Kong under the government-backed Innovation and Technology Fund.

Wing Sang Bakelite Electrical, a Hong Kong-based manufacturer, has chosen ConXerto Harmony to simplify its business processes





…Alles_klar

[Alles_klar]

Hallo, Hey, hihihihihi


Hongkongs dominierende Telekommunikation und Internetfirma PCCW
closes in HongKong +1,23% / HK $ 2.050




PCCW (0008) expects e-Solutions biz grow rapidly


Aloysius Lee, Managing Director of PCCW`s (0008) Commercial Group, said that the development trend of information technology is highly unlikely to be reversed despite the ailing economy, expecting the company`s e-Solutions Business will still grow at a rapid pace.

The company has about 1,000 employees in its IT division. It will explore the opportunities to extend its business in mainland China.



…Alles_klar

[Alles_klar]

PCCW scratches Intel`s back

Two weeks after Intel`s strategic investment arm plunked down $100 million to buy bonds that can be converted into Pacific Century CyberWorks stock, the Hong Kong telecom and Internet company agreed Thursday to adopt a slew of Intel technologies for internal and customer use.


Under the agreement, PCCW will install its anti-fraud management, ISP billing and revenue management systems as well as its short messaging service onto Intel architecture by the end of the year, making it "the platform of choice," PCCW said.

PCCW said it will also adopt Intel Online Services for its Web hosting and e-solutions businesses.

PCCW and Intel said they plan to cooperate in wireless LAN products and services, and in broadband services for small and medium enterprises.



For Intel, the goal is to have its products and technology become "the staple building blocks of telecommunications systems throughout Asia," said Christian Morales, vice president and general manager of Intel Asia Pacific.

OK,OK,OK,OK,kokokoko, bin schon wieder weg

[Alles_klar]

Hallo, Hi…hihihihihi


Hongkongs dominierende Telekommunikation und Internetfirma PCCW
closes in HongKong – 2,725% et 1,970 HK $



Richard Li buys 980K shares in PCCW (0008)[/b]

According to SDI information, PCCW (0008) chairman Richard Li acquired 980,000 shares of the company in January 24-25, at a total consideration of $2.009 million.


Telstra: Reach unlikely to post NL of US$15M

Reach, a joint venture company of PCCW (0008) and Telstra, will not post a net loss of US$15 million as estimated by certain brokerage houses, reports a foreign newswire, citing a spokesperson for Telstra.

ABN AMRO Securities recently forecasted that Reach will have a net loss of US$15 million last year.


…Alles_klar

[Alles_klar]

Hallo, Hey,




Hongkongs dominierende Telekommunikation und Internetfirma PCCW
closes in HongKongat 1.890 HK $, - 1.56 %



Chi Mobile (0941) not applying for HK telecom licence

A spokesperson for China Mobile (0941) said that the company eyes on the PRC mobile telecommunication businesses, and does not intend to apply for telecom licence in Hong Kong.

Earlier, the parent of China Unicom (0762), China United Telecommunications Corporation, was granted a MVNO licence from the Office of the Telecommunications Authority, and DBS Vickers estimated that China Mobile will also apply for the licence.

DBS Vickers also said that issuance of licence to China United Telecommunications will create pressure on Hong Kong mobile telecom network operators, and revised down its ratings for PCCW (0008), SmarTone (0315) and SUNDAY (0866).



…Alles_klar

[Alles_klar]

Hallo,hi,hi



F Yuen quits PCRD job, focus on PCI (0065) & PCCW (0008)

PCCW (0008) Deputy Chairman Francis Yuen said that he has left his office in PCRD and will focus on the company and Pacific Century Insurance (0065).

Yuen claimed that Pacific Century Insurance now has no intention to dispose of its stake again after PCRD has terminated discussions with interested parties in respect of the possible stake disposal.

He added that for the time being Pacific Century Insurance will focus more on enhanching sales and cost control and does not intend to cut jobs. The insurer`s agents have decreased from 2,100 to 2,000.



…Alles_klar

[Alles_klar]

PCCW >> << NEWS


Hongkongs dominierende Telekommunikation und Internetfirma PCCW
closes in HongKong 1,830H-K$ / - 3,17%



…Alles_klar [ img]http://www.f-tor.de/board/images/smilies/icon9.gif[/img]

[Alles_klar]

Hey, hihi



Hongkongs dominierende Telekommunikation und Internetfirma PCCW,
closes in HongKong + 3,28% , 1,890 HK $



Alles_klar

[Alles_klar]

Hallo, Hey, hihihihihi




PCCW (0008) confirms interest in Bezeq stake


It was reported that a spokesperson
for PCCW confirmed that it has expressed interest
to bid for the controlling stake in Bezeq,
an Israel telecom operator.

PCCW, which submitted its application alone,
added that it has only shown preliminary
interest in the stake in Bezeq the Israeli
government put on sale. A lot depends
on the potential synergies brought by the acquisition.
It is still studying the issue.

The Israeli government earlier said that
six groups had submitted preliminary applications
to bid for the 50.01% equity interest in Bezeq.
The stake is valued at about US$1.5 billion (about $11.7 billion).




F Yuen disposes PCRD shares to cash in S$1.18M


According to information revealed by the Stock Exchange of Singapore,
Francis Yuen, Deputy Chairman of PCCW,
disposed of 2.238 million shares of Pacific Century Regional Developments (PCRD) last week
at S$0.53 per share to cash in S$1.18 million.
Yuen`s shareholding in PCRD has since reduced to 0.83% from 0.9%.

Yuen resigned the director post of PCRD last month to concentrate on the management of PCCW and
Pacific Century Insurance (0065).
He has denied rumours that he is about to quit PCCW.



…Alles_klar

[bozth]

Hi ALLES_KLAR.
So wie es aussiehst bist du hier der einzige der sich für diesen Wert interessiert. Schade. denn eigentlich ist es kein schlechter Titel. ich bin mir überzeugt, dass auf dich sicht von 10 jahren sich der Kurs verlielfachen wird. was denkst du über die entwicklung. die lurzfristige ist ungewiss.
BY BY

[Alles_klar]

Hallo, bozth



Reich PCCW mit Aktien – und das ruckzuck?


Langfristig heißt für mich 5 bis 10 Jahre Laufzeit. Kurzfristig ist China ein Zockermarkt.
In 10 bis 15 Jahre wird China die zweitgrößte Wirtschaftsmacht sein.


PCCW sollte langsam ein attraktives Niveau erreichen. Man sollte nicht vergessen, hinter PCCW versteckt sich auch Hongkong Telecom - ein sehr profitables Unternehmen.


Es ist noch kein erfolgreicher Aktionär vom Himmel gefallen
nur Börsen-Nieten regnet es manchmal.



…Alles_klar

[Alles_klar]

.



Hallo



Merrill: PCCW(0008) shr prc may be hit by Bezeq buy


PCCW has expressed its interest about
its potential acquisition in the 50% stake of Bezeq,
the largest telecom provider in Israel.
Merrill Lynch is puzzled since there appears
little synergy from the said two companies
and the acquisition should be known as a challenge
against PCCW since US$1.5 billion
(based on the market value) would be spent against
the present liabilities of US$5 billion.


Merrill Lynch added that there lies uncertainty
in the financings of PCCW on the Cyberport project
and forecast that US$880 million would be invested
in the said project in the coming two years.
The brokerage noted that PCCW would remain
to be in negative equity until 2004.


Hence, the share price performance of PCCW
would be hindered despite the lower-than-HSI PE ratio.

Bezeq has strong cash flows.
A total of 6 parties are interested in acquiring
the stake potentially sold by the Israeli government.


PCCW now stands at $1.89, down by $0.04 or 2.073%



…Alles_klar, die mit den Bullen spielt.

.

[Alles_klar]

Hi



R Li: PCCW (0008) $5B financing to be completed in Q1


PCCW, Chairman Richard Li said that he
is content with the progress of the syndicated loans,
expecting that the $5 billion deal
will be completed within this quarter.


Meanwhile, he stated that PCCW-HKT and Reach,
a unit of the company,
have no problems in accounting issues.


He added that the company will keep an eye
on the number of staff and claimed
that it is impossible to guarantee that no more
staff will be fired.




…Alles_klar, die immer noch sehr buhlisch ist

[Alles_klar]

Hallo,



Hongkongs dominierende Telekommunikation und Internetfirma PCCW
closes in HongKongat 1,910H-K$ / +- O%



TRADELINK to list on Main Board in September

Justin Yue, Chief Executive Officer of TRADELINK, said that the company plans to acquire a listing status on Main Board in Hong Kong in September, and is now selecting sponsor for that.


He said that there are 12 shareholders in the company at present: the Government is holding the 42% stake in the company, Hongkong Bank holds 9%, PCCW (0008) holds 9% and other shareholders include Swire Pacific (0019), China Resources Enterprise (0291), Hutchison Whampoa Limited`s (0013) HIT as well as The Wharf`s (0004) MTL. He noted that the company will issue new shares, instead of selling existing shares, and have all of them offered for public subscription.


Yue did not mention the amount of the fund it wanted to raise from the listing. The company posted net profits of $100 million for the years 2000 and 2001. The company was granted a right of e-trade platform ownership in last November.


Yue added that the software company which is held by the company as to 20% also plans to have its shares listed on GEM by the end of this year but he refused to mention the name of the company. TRADELINK has been providing certificate verification services since 1997 and more than 53,000 companies have registered as its clients. More than 150,000 digital certificates have been issued.


In addition, the company entered into an MOU with Bank of East Asia (0023) in relation to e-commerce development. The clients of corporate e-banking services of the bank can be identified by the electronic visa through the use of digital identity certificates.






YesTV in talks for new partners



Thomas Kressner, Chairman and Chief Executive Officer of YesTV, said today that after CLP Telecommunications Limited pulled out from the cooperation, the company has been in talks with several parties, including local companies, for new cooperation. He reiterated that the operation of the company will not be hit by the withdrawal of CLP Telecommunications.


The monthly fee of YesTV`s pilot broadcasting is $328. On the comment that citizens will find it too expensive, Kressner defended that the charge is justified because of the wide variety of services provided, adding that it is only a preliminary rate. The company will review the rate six to nine months later.


YesTV will achieve break-even if it has 45,000 subscribers. The company rents network from PCCW (0008).





…Alles_klar

[Alles_klar]

Hallo



YesTV in talks for new partners

http://events5.broadcastone.net/yestv/20020222/infocastdefau…




Hongkongs dominierende Telekommunikation und Internetfirma PCCW
closes in HongKong
- 1,05%, HK-$1,8900





…Alles_klar




.

[Alles_klar]

PCCW >> << NEWS

21/02/2002
PCCW (0008) - INTEREST IN ISRAEL BEZEQ
Source from Merrill Lynch


Summary
· Bloomberg (15 February 2002) reported that PCCW was one of six investors who expressed formal interest in acuqiring contorl of Bezep Ltd, the fixed line monopoly in Irasel, in the gobvernement`s provatization process.


· Bezeq is Israel`s largest national telecommunications provider with a market cap of around US$3bn and a free float of 25%. The company was founded as a state-onwed caompny in 1980. Similar to PCCW, Bezeq has subsequently branced out to provide a comprehensivce range of services including local, long distance, internationalphone services, mobile, Internet, data, satelite, leased liine and coporate network communcations.


· The Israeli governemet currently owns 54.6% but it intends to dispose ite stake as part of the process of privatizing state-owned assets. It is reported that this is one way for the Israli government to raise money to meet its budget deficit target of US$3.2bn in 2002.


· Bezep has storng cash flow – Bezeq reported cUS$1.3bn revwenue, c42% EBITDA margin, cUS$35mn net income nad cU$335mn free cash flow during the nine-month peruiod to September 30 2001.


· PCCW`s interest in Bezeq raises questions for us concerning the company`s corporate stretegic focus, as there appears little synergy from owning 2 incumbent operator in unrelated markets. A price tag stake could be a challenge for PCCW, which catties US$5bn net debt and will likely remian in negative equity porition unitl 2004, on our estimates.


· Besides, we believe much uncertainty remains as to PCCW`s funancing for its Cyberport projects, which we expect to require up to US$880mn within these two years. At 13.7x 02E earnings, PCCW`s share price looks undermanding compared to Hang Seng Index average of 14.6x. However, the above concerns may add to the overhang of the company`s share price performance, in our view.

*************************************************

…Alles_klar

[Alles_klar]

Hallo,




PCCW (0008) expects new JV yr revenue RMB200-300M


PCCW (0008) formed a joint venture company,
Petro-CyberWorks Information Technology Co.,
with Sinopec (0386) to help the provide technology services.
PCCW expects the JV will record a yearly revenue
of RMB200-300 million.

PCCW will own 45% stake in the JV, while Sinopec
will hold the rest.

The registered capital of the JV amounts
to RMB50 million.
The total investment amounts to RMB80 million,
of which RMB36 million will be contributed by PCCW.







Further smart ID cards may not be made by PCCW (0008)



Eric Wong, Deputy Director
of Immigration (Smart Identity Card),
said that the winner of the first contract
for the production of smart identity cards
is not necessarily awarded the second contract.

The consortium led by PCCW (0008) is today granted
the $162.7 million contract for the production
of a total of 1.2 million smart identity cards.

Wong explained that as the owner of the technology,
the Government has the right to do so.

He claimed that a total of 6.8 million
smart identity cards will be issued
and it will take 4-year time to exchange
them with the existing ones.
Applications will be filed to LegCo
for two funding at a total of $3.1 billion,
and the first instalment of $162 million
will be paid in 6 subdivided instalments.
He underlined that while technology
and quality are the keys for selection
of the card producer, pricing is only
the factor that accounts for 40% of the selection.




…Alles_klar

[Alles_klar]

PCCW >> << NEWS




ROUNDUP - PCCW, Sinopec sign IT services joint venture in China


China Petroleum and Chemical Corp (Sinopec) and Pacific Century Cyberworks Ltd said they signed an agreement to set up a joint venture to provide IT services in China to Sinopec and third parties.

Sinopec will hold a 55% stake in the venture, Petro-Cyberworks Information Technology Co Ltd, and will invest 27.5 million yuan. PCCW will take a 45% stake and invest 22.5 million yuan, Wang Jiming, president of Sinopec told reporters at a news conference to announce the joint venture.

A spokesperson for PCCW later told AFX that the registered capital of PCITC will be 50 million yuan, but that the total investment would be 80 million yuan.

PCCW sees the joint venture as a way to tap a rapidly growing market in China for IT application services such as enterprise resource planning (ERP) and customers relationship management(CRM).

PCCW estimates the market for (ERP) systems in China will be worth some $1.3 billion by 2005, while the energy, process manufacturing and related-industry IT markets will be worth $2 billion.

Richard Li, PCCW`s chairman and CEO told reporters that the joint venture would not only provide IT services to Sinopec and its subsidiaries, but was also aiming to provide systems integration and e-commerce services to other large enterprises and "sophisticated customers" in the oil and oil services sector and other industries.
Within three years, PCITC plans to expand into overseas markets.

Li admitted that the margins were "not the largest in the world", but said there was relatively little competition in China for such IT services.

He hoped the joint venture would help PCCW win customers for other telecoms services and strengthen its presence in China`s IT and telecommunications markets.

He said PCCW already has operations in 12 Chinese provinces and employs 1,000 people on the mainland. The company already has $50 million of bookable revenue for operations in China for 2002, including the joint venture signed with Sinopec.

Li said the joint venture would not face any restrictions by China`s Ministry of Information Industry, which oversees the IT and telecoms sectors.

Wang Jiming said Sinopec had already developed its own ERP systems and applied advanced IT to several aspects of its business including online sales of petrochemical products which last year accounted for a quarter of the company`s petrochemical products sales.

Sinopec chairman Li Yizhong said the joint venture would help to upgrade the company`s operational expertise and promote its development.

© AFX News





bye & cu Alles_klar [/b]

[DosPlayers_zwo]

P rates PCCW (0008) proposed $5B loan "BBB"
2002/03/08 15:29

(Infocast News) Standard & Poor`s assigned its "BBB" issue credit rating to PCCW-HKT Telephone Ltd.`s proposed $5 billion fully drawn six-year bullet bank syndicated loan due 2008.

HKT is a wholly owned subsidiary of PCCW (0008).

The rating on HKT reflects the company`s dominant position in Hong Kong`s fixed-line telecommunications market, ability to generate relatively stable cash flows, strong operating efficiency, and state-of-the-art network. These strengths are partially offset by a competitive domestic market, and the considerable debt burden of PCCW.

[Duschgel]

Du meinst also, dass der Rischard Li ne kölsche Jong is?

Das erklärt dann doch einiges!!!

dg

[Duschgel]

Ähm, häh..falschrum aufgeklickt..war Antwort auf #2
dg

[Alles_klar]

Hallo, huhhuhu..?

Salomon forecasts PCCW (0008) `01 NP $1.263B
2002/03/19 11:46

Salomon Smith Barney forecast that PCCW will record a net profit of $1.263 billion for the last year, compared to the consensus estimate of $1.6 billion, mainly because it is likely to have write-offs for CWVentures.The firm estimated that the 2001 revenue and core EBITDA for the listed company is $21.8 billion,up by 5.1% on a year-on-year basis and $7.1 billion, up by 14.4% on a year-on-year basis, respectively. …


Alles_klar

[Alles_klar]

Hallo,



PCCW (0008) `01 EBITDA US$948M, up 20%

In 2001, PCCW`s (0008) turnover
totaled US$2.815 billion, up 6% from US$2.652 in 2000;
the EBITDA was US$948 million,
up 20% from US$790 million in 2000;
the EBITDA gross margin was 34%,
up four percentage points from 30% in 2000;
and the operating profit was US$612 million,
up 25% from US$490 million in 2000.




PCCW (0008): No final dividend declared

PCCW (0008) announced that no final dividend
was declared for the year ended 2001,
though it turned around in last year.



PCCW (0008) `01 turnaround NP US$243M

PCCW (0008) posted a net profit
of US$243 million for the year ended December,
2001, compared to a net loss of us$6.907 billion
in 2000. EPS were US 8.46 cents



…Alles_klar

[Alles_klar]

PCCW >> << NEWS



[PCCW (0008) `01 depreciation & amortization up 25%


PCCW (0008) announced that the depreciation
and amortisation for last year rose 9% to US$329 million



Breakdown of revenue and EBITDA of PCCW (0008) in 2001:

Business___________Revenue (US$M)__________EBITDA (US$M)

Fixed network__________2,561_____________________1,277
eSolutions______________ 224____________________13
Data centre_______________24_____________________8
Internet_________________168___________________189
Infrastructure_____________175___________________73
Other____________________59__________________218



Corrected: PCCW (0008) EPS 8.46 cents


The EPS of PCCW (0008) was 8.46 cents last year, not US 8.46 cents.
The corrected version is as follow:

PCCW (0008) posted a net profit of US$243 million for the year ended December, 2001,
compared to a net loss of $6.907 billion in 2000. EPS were 8.46 cents.



…Alles_klar

[Alles_klar]

Hallo,


Chairman Richard Li is now devoting
his time to breaking new
ground with a systems-integration
project in China



PCCW bursts back into black



March 21, 2002 Posted: 11:10 AM HKT (0310 GMT)

HONG KONG,
China -- Shares in Internet and telecom
conglomerate Pacific Century CyberWorks
rose in early trade Thursday after a better
than expected profit result.
PCCW bounced back into the black for 2001,
posting a full-year net profit of $243 million
(HK$1.89 billion) after the end
of trade on Wednesday.
That was better than expected.
Analysts polled by Reuters expected a profit
of $171 million. Last year, PCCW crashed to a net loss
of $885 million (HK$6.9 billion).


"For 2001, we have achieved satisfactory
operating results in a very difficult economy," chairman Richard Li told a news conference.
PCCW was the worst performing stock
in Hong Kong`s Hang Seng index, which in turn
was the worst performing main index in the world last year.
Li, son of Asia`s richest man, Hong Kong-based
tycoon Li Ka-shing, has seen his company turn
from dot.com darling to ugly duckling.
He has drawn heavy criticism for everything
from his board`s pay to disclosure
of his academic record.
Richard Li owns 37 percent of PCCW.
Shift to telecom business
PCCW has shifted from a focus on the Internet
toward its profitable land-line business that
it bought from Cable & Wireless.
This was the first full year reflecting
that business, bought in 2000.
PCCW posted total revenue of $2.8 billion.
That was up 6 percent over last year,
when adjusted for the businesses PCCW now owns.
The company has abandoned last year`s focus,
its costly Network on the World strategy.
But Li has maintained his entrepreneurial enthusiasm.
He is now spending most of his time
on a $10 million systems-integration joint venture
with Sinopec in mainland China.
He is leaving the land-line business,
a slow but stable earner, to established managers.
Veteran Chief Financial Office David Prince announced
he was resigning from the company on Wednesday,
to spend more time with his family.
Executive director Frederick Ma is taking his role
as of May 31.
Prince, a former Cable & Wireless executive,
stayed on at PCCW at Li`s request after his family
returned to the United Kingdom.
Shares in PCCW closed on Wednesday
down 2.4 percent at HK$2.025. After the earnings
came out, its depositary receipts dropped 3.4 percent
in New York trade, ending at $2.55,
worse than Nasdaq`s 2.6 percent fall.
As expected, Hong Kong dropped when trading
started Thursday, in line with an overall decline
in Asian markets and after an overnight drop in U.S. stocks. The Hang Seng index was off 1.5 percent
to 10,870 by mid-morning.
Japan`s market is closed Thursday for the spring
equinox holiday.




Thursday, March 21, 2002

PCCW tops forecasts with US$243mil 2001 net profit

HONG KONG: Pacific Century CyberWorks
PCCW has reported a better-than-forecast net income of US$243mil for 2001 after downsizing its New Economy vision and shedding staff to focus on its core Hong Kong telecoms business.
The one-time Internet star headed by 35-year-old tycoon Richard Li had disappointed the market last year with a worse-than-expected net loss of US$885mil for 2000 as it was saddled by the collapse in value of its investment portfolio and the costs of buying Cable & Wireless HKT.
“Our integrated communications business produced a satisfactory performance, considering it was an extremely difficult year for the industry as a whole,’’ Li said in a statement yesterday.
Analysts surveyed by Reuters had forecast on average that PCCW would post a profit of US$170.5mil for 2001, its first full year since its US$28.5bil purchase of HKT.
PCCW said its revenue for 2001 totalled US$2.815bil, up 6% from a year earlier on a pro forma basis.
Operating profit was US$612mil before net gains or losses on investments and provisions for impairment losses. Specifics of PCCW`s one-off items were not immediately available.
Shares in PCCW, which reached a high of HK$28.50 at the peak of the Internet euphoria in early 2000, closed 2.41% lower yesterday at HK$2.025. The results were released after the close of trading.
PCCW threw in the towel last year on its once-grand plan for creating a combined TV and Internet service called Network of the World, scaling back the project`s global focus to Hong Kong and putting a cap on potential consumer Internet losses.
With much of the company`s revenue derived from its local phone business – a slow-growing and competitive market made harsher by the city`s sluggish economy – PCCW slashed costs in 2001, announcing some 950 job cuts during the year. — Reuters



…Alles_klar

[Alles_klar]

Hallo,



Goldman`s portfolio share in PCCW up to 10.5%

Goldman Sachs stated in its report
that it has raised its telecom portfolio share in PCCW
from 6.8% to 10.5% upon release of the results of the telecom corporation.

Upon completion, 18.2% of the firm`s telecom portfolio goes to China Mobile (0941)
while 9.2% goes to SmarTone (0315).

PCCW announced its annual results on Wednesday.
The stock eased back and closed at $2.025,
down by 1.22% in today`s morning session.





S&P: PCCW (0008) `01 results positive for credit profile

Standard & Poor`s said that while PCCW`s
improved 2001 results are positive
for its credit profile, they will not affect
the rating on PCCW`s wholly owned subsidiary,
PCCW-HKT Telephone Ltd., whose debts were rated "BBB".
The rating firm explained that when the rating
was assigned in last June, it took into consideration
an expected improvement in the company`s results.



…Alles_klar

[Paraskevi]

@Alles_klar
Im call in am Freitag gab der dortige GAST zu Pccw
auf die Frage zum einsteigen ein :eher nicht, zur Antwort.
Vermute der hat sich noch nicht gut genug eingedeckt.
Denn ansonsten war er doch zu China positiv und zu HK sehr positiv eingestellt.

[Paraskevi]

[Alles_klar]

Hallo,



Drei Berg und drei Tal
Und drei Buam auf amol.
Oan liab i, oan fopp i,
Oan heirat i amol.

Hollari tuli hai
Diri tuli a ho
Ri tuli ria ha ho.



I werd di schon liabm,
Aber sagn derfst es net,
Wann`s d`Leut amol wissen,
So mag i di net.

Hollari tuli hai
Diri tuli a ho
Ri tuli ria ha ho.



A Schalerl Kaffee hebt das Herzerl
In d`Höh
Und a Bussal dazua,
Das is guat in der Fruah.

Hollari tuli hai
Diri tuli a ho
Ri tuli ria ha ho.



Mei Biabal hat`s Fiabal,
Hat`s alle drei Tag,
I schau mar um a Büabal,
Das`s Fiabal nit hat.

Hollari tuli hai
Diri tuli a ho
Ri tuli ria ha ho.



Aber mei Herz und dein Herz
San zsamm vabundn
Und a Schlisserl des aufsperrt,
Wird nimmer gfundn.

Hollari tuli hai
Diri tuli a ho
Ri tuli ria ha ho.



…Alles_klar

[Alles_klar]

PCCW >> << NEWS



CyberWorks Lays Off 858 Employees


MONDAY, MARCH 25, 2002 11:07 AM - Associated Press

HONG KONG, Mar 25, 2002
(AP Online via COMTEX) -- Pacific Century CyberWorks Ltd.
said Monday it was laying off 858 workers,
or about 6 percent of its Hong Kong staff,
citing the difficult economy and intensifying competition.
In a letter to staff members,
CyberWorks chairman Richard Li described
the decision a "regrettable but unavoidable"
step in the company`s transformation
from a former phone monopoly to a competitor
in a deregulated telecommunications market.
Li said the layoffs were spread throughout
the company`s operations.Li, son of billionaire
Li Ka-shing, said there has been
no significant improvement in Hong Kong`s
overall economic situation since CyberWorks
laid off 506 workers in December.
The company axed a total of nearly 1,000 jobs
last year.CyberWorks faces stiff competition
in advance of full liberalization of the
fixed-line phone market in 2003, Li said.
Last week, CyberWorks reported a profit
of 1.89 billion Hong Kong dollars ($243 million)
for 2001, compared with a loss
of 129.3 billion Hong Kong dollars
in the previous year.CyberWorks shares are priced
at about 2 Hong Kong dollars (25.6 cents)
each - a tiny fraction of the 28.50 Hong Kong dollars
they commanded about two years ago when Li
took over local phone giant Cable & Wireless HKT,
at the time Asia`s biggest ever takeover.

---On the Net:
Pacific Century CyberWorks:
http://www.pccw.com

…Alles_klar


Und drei Buam auf amol.
Oan liab i, oan fopp i,
Oan heirat i amol.

[Alles_klar]

Hallo,



CLSA: PCCW (0008) can cut 1,600 more staff

PCCW announced a lay-off of 858 staff
and no guarantee of no further staff dismissal.
For this, CLSA stated in its report
that since the ratio of lines per employee
remains at 338 and the ratio is expected
to be adjusted to 400-450 lines per employee,
there lies room for the company
to fire 1,600 more staffers


PCcw Close (H_K $) 2.000





…Alles_klar




Und drei Buam auf amol.






Oan liab i,
oan fopp i,
Oan heirat i amol.

[DosPlayers_zwo]

__________________________C H I N A _____________________

Megachancen für die Deutschen


Ein Report von Wolfgang Hirn

Seit dem Beitritt zur Welthandelsorganisation WTO müssen sich Chinas Firmen dem Wettbewerb stellen. Der größte Wachstumsmarkt der Welt wird für deutsche Firmen noch attraktiver.
Die Skyline des neuen Schanghai: Vor zehn Jahren gab es dort, wo jetzt bis zu 400 Meter hohe Hochhäuser stehen, nur Ackerland und ein paar Lehmhütten von Bauern


Schanghai vor rund zehn Jahren: Das größte Kaufhaus war der muffige "Department Store No. 1", ein Fossil sozialistischer Planwirtschaft. Als erstes ausländisches Unternehmen hatte - eine Sensation damals - gerade Nike einen Shop eröffnet. Und im neuen Kentucky-Fried-Chicken-Restaurant erhielten die staunenden Chinesen ihre ersten Lektionen in Fastfood.

Wer vom "Bund", der legendären Uferpromenade, über den Huangpu nach Pudong blickte, sah fast nichts außer schwammigem Ackerland und ein paar schäbigen Bauernhütten.

Schanghai heute: In der schicken Huaihai-Straße ist alles vertreten, was in der Markenwelt einen Namen hat - von Cartier über BMW bis Gucci. In Straßencafés schlürfen neureiche Chinesen italienischen Rotwein oder im Starbucks einen Cappuccino für 20 Yuan, was etwa fünf Mark entspricht. Daneben reihen sich im riesigen China-Mobile-Shop die Menschen in lange Schlangen ein, um ein Handy zu erwerben.

Wer heute am "Bund" steht, blickt auf die Skyline Pudongs mit bis zu 400 Meter hohen Wolkenkratzern. Hinter der neuen Glitzerstadt ist ein moderner Flughafen entstanden, von dem die Reisenden im Jahr 2003 per Transrapid in die Innenstadt schweben werden.


An keinem Ort Chinas spiegelt sich die atemberaubende Dynamik des Riesenreichs so wider wie in der 14-Millionen-Metropole Schanghai.

Seit Jahren ist China der größte und inzwischen auch der einzige Wachstumsmarkt der Welt. Das Land widersteht Rezessionstendenzen der Weltwirtschaft hartnäckiger als jede andere Nation.

Das kommunistische China gerät somit zur letzten Zufluchtsstätte kapitalistischer Investoren aller Länder. Rund 40 Milliarden Dollar investierten ausländische Multis und Mittelständler 2001 in China. Tendenz: steigend.

China öffnet seine Tore von Tag zu Tag weiter. Anfang 2002 wurde das Land endlich Mitglied der Welthandelsorganisation WTO. "Dieser Schritt ist genauso bedeutend wie die Einleitung der Dengschen Reformpolitik anno 1978", sagt Jörg Wuttke, Präsident der Deutschen Handelskammer in Peking.

Mit der WTO-Mitgliedschaft dokumentiert China nach innen (an die Adresse der Reformgegner) wie nach außen (an die Chefs der ausländischen Multis): Wir bleiben auf Reformkurs, es gibt keinen Weg mehr zurück.

Durch den WTO-Beitritt unterwirft sich das Land, in dem häufig gesetzgeberische Willkür herrscht, den internationalen Handelsspielregeln - auch wenn sich bereits jetzt, wenige Wochen nach dem Beitritt, deutlich erkennen lässt, dass Chinas Regierung die WTO-Bestimmungen nicht sehr genau zu nehmen gedenkt. Dennoch, Peking reißt die Mauern bislang mehr oder weniger abgeschotteter Märkte nieder. Für Banken, Versicherungen, Dienstleister, Handels- und Telekom-Unternehmen tun sich plötzlich neue große Chancen auf.

Generell gilt: Es wird leichter, nach China zu exportieren und dort zu investieren. Auf dem Papier zumindest. Zölle fallen, Handelshürden kippen. Unternehmen müssen nicht mehr lästige Joint Ventures eingehen. Sie können jetzt mit einer 100-prozentigen Tochter in den Markt einsteigen oder - das ist die neueste Welle - sich an chinesischen Unternehmen beteiligen.

Wer noch nicht in China ist, sollte spätestens jetzt über ein Engagement nachdenken. Aber nicht mit der blauäugigen Euphorie der 90er Jahre, als westliche Investoren von den 1,3 Milliarden Konsumenten schwärmten. Die Realität sieht nämlich viel nüchterner aus: Mindestens 900 Millionen Chinesen leben auf dem Land und beziehen ein Einkommen von rund 700 Mark im Jahr.



Wachstum nach Plan: Entwicklung des chinesischen Bruttoinlandsprodukts



Die kaufkräftige Mittelschicht zählt "nur" rund 100 Millionen Menschen - aber täglich werden es mehr, weil Chinas Wirtschaft wächst wie keine andere der Welt. Jedes Jahr legt das Bruttosozialprodukt um 7 bis 8 Prozent zu. Der WTO-Beitritt wird einen zusätzlichen Wachstumsschub auslösen, aber auch die Olympischen Spiele 2008 in Peking mit ihrem 30-Milliarden-Dollar-Investitionsprogramm.

Wenn China so weiterwächst, übersteigt das Sozialprodukt des Landes - nach Kaufkraftparitäten gerechnet - bereits 2015 das der USA. Konrad Seitz, langjähriger Botschafter in Peking, sieht China auf dem Weg zur Weltmacht, als einzigen Rivalen der USA.

Es kann so kommen, muss aber nicht. Denn das Land hat viele Schwierigkeiten. Drei große Klüfte tun sich auf: zwischen Arm und Reich, zwischen Land und Stadt und zwischen West und Ost.

Die Probleme haben vor allem eine Ursache: die maroden Staatsunternehmen. Dort arbeiten über 100 Millionen Menschen höchst ineffizient. Fanchen Meng, Chef der Unternehmensberatung A. T. Kearney in Schanghai, sagt: "Es gibt keine zehn Staatsbetriebe, die wettbewerbsfähig sind."



Immerhin: Die Regierung unter Premier Zhu Rongji weiß um die gewaltigen Herausforderungen. Sie forciert eine Go-West-Politik, damit der Boom der Ostküste auch das Landesinnere erreicht. Und sie hofiert Privatunternehmen und ausländische Firmen. Das Ziel der Staats- und Parteispitze: Aus staatlichen Bereichen entlassene Arbeiter sollen anderswo Lohn finden.

Die Privatwirtschaft erwirtschaftet in dem offiziell kommunistischen Staat bereits 40 Prozent des Sozialprodukts. Um diesen hohen Anteil zu rechtfertigen, macht die pragmatische KP-Führung ideologische Klimmzüge. In seiner berühmten 1.-Juli-Rede verkündete Parteichef Jiang Zemin sogar, dass Unternehmer Parteimitglied werden dürfen.

Die herrschende Parteiclique weiß: Nur wirtschaftlicher Erfolg sichert ihr Überleben. Deshalb tut sie alles, um das enorme Wachstumstempo zu halten. "Ich habe noch nie so knallharte Kapitalisten gesehen wie in der chinesischen Regierung", sagt Obi-Gründer und China-Kenner Manfred Maus.

Zur Bewährungsprobe wird die schwierige Reform der Staatsunternehmen. Sollte die Führung diese einigermaßen sozialverträglich packen, dann - ja dann könnte der prophezeite Aufstieg Chinas zur globalen Wirtschaftsmacht tatsächlich gelingen.

Wie es derzeit im Lande nur wenige Wochen nach dem WTO-Beitritt aussieht, welche Chancen dadurch deutsche Unternehmen haben, beschreibt mm während der Ostertage in einer Serie. Lesen Sie heute:


Wachstumsmarkt China
Welche Branchen vom WTO-Beitritt profitieren werden

I. Der Angriff der Handelsgiganten
http://www.manager-magazin.de/unter...,189249,00.html



II. Das heiße Rennen der Autokonzerne

http://www.manager-magazin.de/unter...,189254,00.html

III. Das Ringen um die Handy-Weltmeister

http://www.manager-magazin.de/unter...,189256,00.html


Chinesische Multis drängen auf die Weltmärkte
http://www.manager-magazin.de/unter...,189263,00.html

Wie extrem zwei Autoren Chinas Zukunft sehen

http://www.manager-magazin.de/unter...,189269,00.html

[Alles_klar]

Hallo,



PCCW-HKT said to mull a long-term bond issue


PCCW-HKT Telephone, the unit of PCCW (0008),
is again said to be planning a long term
offshore bond issue, following the six-year
loan that is in the market and the seven-year
facility that will be launched
after the six-year deal closes,
basis point reported.
The unit is reportedly to be asking investment banks
to submit bids for the bond offering.




Goldman ups PCCW (0008) forecasts despite strike


Goldman Sachs reported that
the recent stock price pressure of PCCW (0008)
is attributable to the over-sensitive
concerns about the industrial action of PCCW staff.
Despite the unjustified share price weakness,
the management of the company yesterday
told the firm that its operation is continuing
as normal without disruption.
In fact, citing an example of Australian
counterpart Telstra, the firm underlined
that an industrial action will not impose
a negative impact on the operation or earnings
of such a large telecom company like PCCW.

Goldman maintained its "Recommended List" rating
on the company because of its analysis of solid
results and stable outlook of the company,
and upgraded the profit forecasts
of the company for the coming three years
with a target price remaining at $2.7 and
recommendation of purchase at a low price level.



…Alles_klar

[Alles_klar]

Hallo,



03/04/2002

PCCW (0008) - RECOMMENDED LIST


Source from Goldman Sachs

Summary

· Following unjustified price weakness,
we reiterate our Recommended List rating
on Pacific Century CyberWorks (PCCW) and our 12-mont
target price of HK$2.70.
Concerns over industrial action,
which have affected the stock, are overdone
and imply the impact to be greater than it
actually could be.

· Following PCCW`s results, management discussions
and recent cost-cutting activities,
we have made minor revisions to our
estimates for 2002-2004. We have raised
core EBITDA by 3% in 2002, 2003,
and 2004 and non-diluted EPS by 1% in 2002
and 1% in 2003. We have left our 2004 EPS unchanged.
We believe any price weakness creates
a buying opportunity.

· Price weakness resulting from fears
over the impact of industrial action is overdone.
The financial/operational implications
of industrial action for a telecommunications
carrier are usually relatively benign in that
service don not get disrupted.
Delays may be experienced in repairing faults
or providing new connections,
but the core revenue-generating
business functions irrespectively.



Highlights

· We do not believe the current industrial action,
while unfortunate is likely to have nay
meaningful impact on PCCW`s operations
and /or earnings. In addition,
late on April 2 management indicated that
operations were continuing as normal without disruption.
In fact, it is worth noting that incumbent
telcos have experienced industrial action of
some nature, which have not had a negative
impact on operations or earnings.

· Earnings revisions reflect solid results and stable outlook.
We have raised our 2002 and 2003
revenue estimates by 2% to HK$22.8 bn
and HK$24.9bn, respectively.
We have left our 2004 revenue estimates unchanged.
We have raised EBITDA by 3% in 2002, 2003,
and 2004 to HK$8.1 bn, HK$9.6 bn, and HK$15.0 bn.
EBITDA margins (ex-property) for 2002, 2003,
and 2004 are 36%, 38% and 43%.
We have raised our EPS estimates by 1%
to HK$0.13 and HK$0.2 in 2002 and 2003.
We have left 2004 unchanged.








Alles_klar

[Alles_klar]

Hallo,



"Vor dem Feiertag herrschte am Markt nahezu Totenstille",
sagte ein Händler.

Am Freitag bleibt die Börse Honkong wegen
des Ching-Ming-Festes geschlossen.




High-Tech Hangover Hits Cyberport



THURSDAY, APRIL 04, 2002

HONG KONG, Apr 04, 2002 (AP Online via COMTEX) --

Once touted as Hong Kong`s answer to Silicon Valley,
the Cyberport industrial park is finally in business -
but with little to boast about in the way of tenants.
The project`s first phase opened Wednesday,
but just three of 80 companies that applied
for tenancy had signed leases,
and one of them was the Cyberport developer,
Pacific Century CyberWorks.
Cyberport was launched in 1999
- when dot-coms were booming -
but stirred controversy when the government
awarded the project with no bidding to CyberWorks,
run by Richard Li, a son of Hong Kong`s richest man,
Li Ka-shing.CyberWorks is a telecom
and high-tech conglomerate that once held
grand visions but has since taken a more
down-to-earth focus on telephone revenues.
The other two Cyberport tenants
are telecommunications group Sonera SmartTrust Ltd.,
of Finland, and GE Global eXchange Services,
a unit of the U.S. General Electric Co.
Critics have questioned the wisdom
of developing Cyberport - as Hong Kong
suffers through another economic slowdown.
"Under the current global economic conditions,
and seeing that there are others in the region
who are more advanced than us in high-tech industries,
I don`t feel too optimistic about it,"
said Lau Siu-kai, a political scientist
at the Chinese University.
"Seeing that there are so few companies there,
people will question whether this can really
push Hong Kong ahead as a technology hub
and kickstart the high-tech industry here,
" Lau said.The government sought Thursday
to play down any worries, noting none
of the 15 major high-tech companies
that signed letters of intent to move in
- including IBM, Microsoft and Yahoo! -
have pulled out.Microsoft Hong Kong
still plans an office at Cyberport but
hasn`t decided when, spokeswoman Bridget Yau said.
"If they have taken the trouble of entering
into detailed discussions with us,
I believe they are very sincere
in pursuing their leases," said Annie Tam,
Hong Kong`s deputy secretary
for information technology and broadcasting.
Cyberport is set to be completed in 2004.
Tam acknowledged the sick global economy has hurt.
"It`s not the best time for people to consider expansion," she said.
"If their growth areas and expansion plans
have been put back as a corporate policy,
then of course their plans of moving into
the Cyberport are accordingly being deferred.








…Alles_klar

[Alles_klar]

Hallo,




Goldman: HSI may up 10-15%

In its report today, Goldman Sachs said
that it is becoming more positive on Hong Kong,
expecting that there will be a 10-15%
growth potential of the Hang Seng Index.
Its top stock picks based on potential
upside to price targets are Cathay Pacific (0293),
PCCW (0008), Swire Pacific (0019), and TVB (0511).


Goldman Sachs believes that current
fears of structural weakness of Hong Kong
are overrated, and that the economy
is still well positioned for global
and regional recovery. It said that future
recovery should favour external- and
trade-oriented sectors and believes
that Asia Satellite Telecommunications (1135),
Cathay Pacific, HSBC (0005), Hutchison Whampoa (0013),
Li & Fung (0494) and Swire Pacific
will be benefited as a result.


Goldman Sachs said that stronger domestic
companies could also do surprisingly well.
Domestic corporate earnings did much worse
than it would have thought in the previous
recovery cycle. Goldman Sachs recommends
adding selected domestic outperformers
that could match external firms in terms
of share price upside.
It favours Hang Lung Properties (0101),
PCCW, SmarTone (0315), and TVB (0511).




PCCW (0008) confirms M Butcher replaces W Cheung


PCCW confirmed that William Cheung
leaves the posts of Chief Operating Officer
and Executive Director today
and Michael J. Butcher, a former executive of Lucent Technologies Inc.,
has been appointed to replace the posts of Cheung.




…Alles_klar

[Alles_klar]

Hohohohohoi




------------------------------------------------------------






. Es bevorzugt Hängen-Lungenflügeleigentum (0101), PCCW, SmarTone (0315), und TVB (0511).







*---------------------------------------------------------






Drei Chinesen mit dem Kontrabaß
Saßen auf der Straße und erzählten sich was.
Da kam die Polizei:
Ja, was ist denn das?
Drei Chinesen mit dem Kontrabaß.


Jede weitere Strophe wird dann jeweils
auf einen Vokal oder auf einen Umlaut
oder Doppellaut gesungen:

2. Dra Chanasan mat dam Kantrabaß

3. Dre Chenesen met dem Kentrebeß

4. Dri Chinisin mit dim Kintribiß

5. Dro Chonoson mot dom Kontroboß

6. Dru Chunusun mut dum Kuntrubuß

7. Drä Chänäsän mät däm Känträbäß

8. Drö Chönösön möt döm Köntröböß

9. Drü Chünüsün müt düm Küntrübüß

10. Drau Chaunausaun maut daum Kauntraubauß

11. Drei Cheineisein meit deim Keintreibeiß

12. Dreu Cheuneuseun meut deum Keuntreubeuß

[Alles_klar]

PCCW >> << NEWS


April 09, 2002

PCCW insists Li will keep dual role

BY CLIVE MATHIESON, TELECOMS CORRESPONDENT


RICHARD LI, the Hong Kong playboy,
was yesterday once more at the centre of speculation
that he could relinquish his top role
at Pacific Century CyberWorks.
PCCW said it had appointed Michael Butcher,
former president of international
operations at Lucent Technologies,
as its chief operating officer.
The company insisted that Mr Li, 35,
would continue his dual role of chairman
and chief executive of PCCW.
There was speculation, however,
that Mr Butcher was being groomed
as Mr Li’s successor. Mr Li, who has presided
over a 93 per cent slump in PCCW shares
since the £17 billion acquisition
of Cable & Wireless’s Hongkong Telecom,
the province’s dominant telecoms firm,
said last month he would not step
aside as chief executive. But some investors
would like to see him take a back-seat
role in the operations of the company.
Analysts said the appointment of Mr Butcher,
a telecoms industry veteran, would be welcomed
by investors who have questioned the financial
skills of Mr Li. Mr Li, 35, is the son
of Hong Kong’s richest tycoon, Li Ka-shing,
who runs the Hutchison Whampoa conglomerate.
He came to prominence with the 1993
sale of the Star satellite network
to The News Corporation, parent company of The Times,
and has since used his father’s name
to build a telecoms and Internet company
stretching across Asia. But Mr Li,
who still owns 37.4 per cent of PCCW shares,
has endured a torrid few months which
included calls for his resignation after he
admitted he had never received a computer
engineering degree from Stanford University
in the US, as claimed on his curricumlum vitae.
PCCW was one of Asia’s hottest stocks
through the dot-com boom, using its over-heated
share price to buy established businesses,
such as Hongkong Telecom. At the time
Lehman Brothers set a 12-month price
target of UK$35, praising the “world class”
ability of Mr Li to “consummate value-accretive
strategic transactions”. The company, however,
has proved far less successful at running businesses.
PCCW faces a shrinking share of the mature
telecoms market in Hong Kong and must look elsewhere,
such as mainland China, for growth opportunities.
Last month PCCW sacked 858 workers,
about 6 per cent of its workforce.
London-based C&W is known to be delighted that
it quit the business in early 2000, even if it
has lost billions on pounds on its stake.
The UK company originally took $6.4 billion
worth of cash and $9.2 billion of shares,
which are now worth about $880 million.
Mr Butcher will replace William Cheung,
who came to PCCW through Hongkong Telecom.
A number of former Hongkong Telecom
executives have left PCCW, including David Prince,
the chief financial officer who resigned last month.




…Alles_klar

[Cityhai]