citic pacific: china-cdma-nasdaq-handy-china unicom-internet - 500 Beiträge pro Seite

[tgfn]

alles in einem wert? für die, die`s interessiert, habe ich ein paar informationen zusammengestellt, die in letzter zeit über citic pacific bekannt geworden sind. da wandelt sich ein früherer gemischtwarenladen zu eínem big player auf dem chinesischen telekom + internet markt. (andeutungen zu mannesman sind rein zufällig). bin gestern und heute in den wert rein. mal sehen, wie sich das gerücht über ein nasdaq-listing heute nacht auf den kurs von citic pacific auswirken wird. phantasien gibt`s bei diesem wert genügend. schreibt mal eure meinung, wenn euch citic pacific interessiert.



China Unicom, Allowed to Restructure, Plans
to Grow

At the recent International Antitrust Legislation Symposium in Beijing, officials from the
MII said that support for China United Telecommunications (China Unicom) is essential if
the country is to make its telecommunications sector competitive. According to the
December 17 Science and Technology Daily (Keji Ribao), China Unicom would be
encouraged to "restructure and attract more talented personnel" in order to compete with the
"newly reorganized China Telecom." The State Council has now approved China
Unicom’s restructuring plan.

Meanwhile, China Unicom has revealed the strategy by which it plans to win more than 30
percent of China’s mobile telephone and Internet-related services markets over the next five
years. Unicom’s Chairman and General Manager Yang Xianzu has outlined the company’s
next five-year plan, as reported by Hong Kong’s South China Morning Post. The new plan
contains the following points:

Increase capacity of the CDMA (code division multiple access) mobile telephone
network to 60 million users.
Offer nationwide GSM (global system for mobile communications) roaming
services by using facilities of the China Telecom network.
Expand data communications operations such that, by 2005, Unicom would offer
broadband Internet-related services in the prosperous eastern region, in selected
cities in the central region, and in big cities in the less-developed western region
of China.
List on the Hong Kong exchange, with the objective of raising up to US$3
billion.
Seek strategic partnerships with foreign telecommunications operators to boost
management and technological capability.
Attempt to break into the international telecommunications market after China
accedes to the WTO.

Analysis, Implications, and Opportunities

China Unicom is preparing itself for an entirely new telecommunications environment in China. The State
Council’s approval of Unicom’s restructuring plan comes as the company has made substantial progress in
negotiations with its estimated 40 foreign partners over its illegal "China-China-foreign" (CCF) mobile
telephone joint ventures. According to Mr. Yang, Unicom expects to complete the negotiations very soon.

Conclusion of the CCF affair will free Unicom to make its initial public offering (IPO) in 2000, hence to gain
the investment capital needed to realize the plans laid out by Yang Xianzu. Fortuitously, China International
Trust and Investment Corp. (CITIC) Pacific plans to invest several billion dollars in China’s
telecommunication companies to take advantage of the sector’s liberalization after China enters the WTO.
CITIC’s investments are expected to include the purchase of a stake in China Unicom.

Unicom’s position thus appears to be improving. The company’s fortunes in the past have tended to be
cyclical, however—whenever the promise of good times has emerged, something has come along to impede the
company’s progress. Should Unicom’s luck hold this time, foreign companies working with the firm,
especially those tied into its CDMA ventures, are in a good position to see profits.
CITIC (267) - another PCC?








2000-01-06

Will CITIC be another PCC (1186)? James Bond can only live twice, but will there be another miracle (hopefully not
a subsequent tragedy) for the Hong Kong stock market?

CITIC made a formal announcement regarding the acquisition of a 60% stake in a fixed optical fibre network
installation and a 50% stake in the reorganized Guoan. The latter owns numerous cable television networks, a 6%
holdings in China United Communications (i.e. the coming IPO China Unicom), 4 GSM networks, a 10% holdings in
CITIC securities and a 100% holdings in CITIC Building, Beijing.

The 2 projects will cost CITIC RMB 1.2 billion and RMB 2 billion respectively. Henry Fan, the managing director,
said the company would pay by cash.

With a length of 32,100 kilometers, the fixed optical fibre network is a national network which extends from Harbin in
the North to Guangzhou in the South.

The cable networks cover Hubei, Beijing, Shenyang and Wuhu. It has a subscriber base of 5 million. Larry Yung
expects it could expand to 7 million within this year.

Though the announcement did provide some figures, it is far from comprehensive. As for the fixed optical fibre
network, CITIC has to commit a further RMB 4 billion to enhance the system, implying that the network is not yet
comprehensive. In addition, the announcement did not mention any development plan for this network.

The second acquisition is more ambiguous. Among the 5 businesses, it seems the property and securities businesses
are least complementary to the tele-communication businesses. Is there any synergy between these 5 businesses? Or
is it just a mix of candies with different flavours so that the seller can dump all its Christmas sweets after the season?

It is a "coincidence" that BNP Peregrine released a research report along with this announcement. This brokerage
house admired CITIC was on the same successful path as PCC (1186). PCC has risen 68.5 times after asset
injections, so CITIC has a potential of $27.7 increase per share. Peregrine also listed out 10 possible asset injections.


If this analogy really works, the estimation is really "conservative". Nobody can deny there is such a possibility in the
present I-Tech craze. But we would prefer to use a little more common sense and suggest investors to wait for a
concrete development plan.

itic Pacific (267) - "Guanxi" in Cyberspace








2000-01-05

Making use of its "Guanxi", Citic is jumping the queue of foreign investors in entering the China communications
market. The company is going to set up a joint venture with its parent to develop telecommunications and internet
businesses in China.

Rumours whispered that Citic is going to buy a 50% stake in mainland A share Citic Guoan. With a subscriber base
of about 10 million, the latter has cable TV network covering 4 provinces. For the 6 months ended September last
year, Citic Guoan earned RMB 121 million, an increase of 48% in the same period in 1998. Currently, Citic`s parent
holds 75% of Citic Guoan.

Also, it is expected that 7% holdings of the coming IPO star China Unicom will be injected into this joint venture.

As for the internet, Citic will acquire the entire 100% of optical fibre operation in Southern China.

The two acquisitions will cost Citic Pacific a total of HK$8 billion. But shareholders do not need to be afraid of
dilution by the issue of new shares, because Citic had sold back its holdings in CLP (2) and cashed in a large amount
(please click here for details and comments). The company has HK$10 billion cash in hand.

It was also reported that Citic was negotiating with U.S. giant Cisco Systems to develop telecommunications
infrastructure projects.

According to the terms attached to China`s WTO entry, foreign companies can only hold 49% and 50% stakes in
local tele-communication companies in the first 2 years and the next 2 years of the market deregulation. Actually, the
official status of Citic is a foreign company. Larry Yung is obviously capitalizing on his "Guanxi".

With its ample cash status and strong background, Citic will be the ideal strategic partner for foreign investors. In
addition, while the cable TV business is a real business and is proved to be profitable, the infrastructure project is an
essential facility for the tele-communication market. Citic seems to be on the path of success, despite the storm of
today`s Hong Kong market.

CITIC Pacific (267) - possible spin-off in NASDAQ?








2000-01-11

CITIC Pacific strikes no matter whether the iron is hot or cold. The HK Economic Times reported as its headline
story that CITIC Pacific is planning to spin off its recent acquisition of telecommunications business to NASDAQ.

Considering NASDAQ`s I-tech craze and the great surge of China.com, CITIC`s telecommunications business should
be attractive to U.S. investors and speculators. While the acquisition (please click here for details and our comments)
is not yet complete, the mentioned plan seems to be moving ahead very fast - so fast that it arouses our suspicion.

Just by putting a few pieces together and calling it a puzzle, CITIC Pacific has been transformed into a fashionable
technology share. The company is taking a further step forward by putting this same puzzle onto the wall of
NASDAQ and bringing back some easy money. Why doesn`t Guoan, the telecommunications arm of CITIC, itself
seek a separate listing and let CITIC squeeze the profit in-between? Or is it just an excuse for punting the share
price?

Our opinion may be too conservative, especially during the present I-tech craze in Hong Kong. But investors should
be aware that according to the terms attached to China`s entry into the World Trade Organization, the Chinese
government will not allow foreign capital to take more than a 49% stake in local telecommunication company for the
first 2 years. An exception will only be granted to those companies which have excellent "Guanxi", like CITIC Pacific.


On the other hand, CITIC also expanded its stake in the Eastern Harbour Crossing to 70% from 65%. The Japanese
seller requested confidentiality for the acquisition amount.

The management claimed the tunnel`s throughput increased after the Cross Harbour Tunnel between Tsim Sha Tsui
and Causeway Bay raised its fees in September. But comparing last December`s 73,465 vehicles daily throughput
with 71,000 in 1998, the growth is not significant. In fact, the design capacity of this tunnel is only 80,000 vehicles.
The purchase should provide consistent income stream, but not a big leap, for the company

[Nix Wasa]

Endlich einer der es gekneist hat.

Nix Wasa

[tgfn]

gekneist? hast du einen sknachfehler?

gruß tgfn

[tgfn]

hallo
überwältigendes interesse an citic.ich kann`s nicht oft genug sagen. die haben reichlich cash und sind auf dem weg vom immobilien/infrastruktur-misch-masch zu einem player im chinesischen telekommunikations/internetmarkt. welche zuwachsraten dort erwartet werden, brauch ich ja hier am board keinem zu erzählen
hier nun mal die einschätzung des quam-gurus tony zu citic.
Hi Tony! CITIC Pacific 267, Shanghai Ind 363, CKI 1038, New
World 17. I want to buy one of them now. Could you give me some
advices? If you think all of them is bad, pls suggest new one for me.
Thx!! by chris

CITIC, 267, Shanghai Indust, 363, CKInfrastructure, 1038, New World, 17. At $14
I consider CITIC to be cheaply priced, and that its assets are of good quality.
Shanghai Indust is cheaply priced, but its assets are not of the same calibre as
are CITIC`s. Both of these companies will be due to report for their 1998 results,
and that could cause some market disappointments, although we certainly have
already taken that into account. CK Infrastructure is not as cheap, and at some
stage the parent company will be forced to download part of its stake. New World
is also cheap, but it seems to be becoming involved with too many various
projects. I would prefer CITIC.

[tgfn]

sorry leute

hab gerade nocheinmal gecheckt. diese einschätzung stammt vom letzten jahr. die haben wohl bei quam was durcheinander gebracht. ändert allerdings nicht an der einschätzung zu citic.

gruß tgfn

[tgfn]

gerücht aus dem hongkong standard.ist vom jan. habe es aber erst heute gefunden

china united telecommunications ist übrigens unicom

Citic to float crown jewels on Nasdaq

By Karen Chan

STORY: CITIC Pacific is planning to float its newly-acquired telecommunication
assets on the Nasdaq stock exchange, sources said.

Market analysts said BNP Prime Peregrine will likely be the sponsor of the
offering.

The company did not issue any denial but managing director Henry Fan Hung-ling
refused to comment on the matter.

BNP Prime Peregrine officials also refused to confirm Citic`s plan, saying they
were under a ``black-out period``.

A local press report said the group planned to spin off the telecommunication
businesses, which includes four cable television networks, a mobile network and
an optical fibre network during the first half of the year. News on the spin-off
talks boosted shares of Citic Pacific which rose $1.1 or 3.34 per cent to close at
$34.

Sasson Securities deputy managing director Michael Ng said it expected Citic
Pacific to rise to $41 in the short term, while Ing Barings also has raised its target
price of the stock to $39.8, retaining its ``buy`` recommendation for the stock.

The management had repurchased 1.04 million shares priced between $32.9 to
$33.1 per share on 10 January.

Analysts said if the spin-off went ahead, it would be the first publicly-listed
mainland cable company and was likely to elicit a strong positive response from
international investors.

``We see tremendous growth potential for cable TV in China, which is currently
under heavy subsidies from the government. But, as the market is gradually
deregulated, we believe that these businesses will be able to operate in a much
more commercial manner,`` an analyst working in a European house said.

Cash-rich Citic last week announced a 3.2 billion yuan (HK$3.07 billion)
acquisition in Chinese telecommunications businesses. Investors earlier were in
the dark as to what the company would do with $12.78 billion generated from
the disposal of a 15-per-cent stake in CLP Holdings last October. The
newly-acquired assets include 60 per cent of Citic Guoan Group, giving it a
3-per-cent stake in China United Telecommunications and four cable television
networks in China. A UK securities house analyst said because Citic Pacific
bought a stake in China`s cable television industry at a bargain price the upcoming
offer should be attractive.

``As implied by the market price of the cable TV company, the current valuation
for its 5 million subscribers is about US$260 compared with US$6000 for a US
network.``

Another telecom asset it could spin off includes a 32,099km optical fibre network
being built by the People`s Liberation Army from the north to the southern part of
Guangdong, .

gruß tgfn

[tgfn]

hallo

mal ein upgrade der lehman-brothers zu cathay pacific. ist insofern interessant, weil cathay zu 25,39% citic pacific gehört.

Lehman Brothers said the influence of rising jet fuel prices on Cathay Pacific Airways (0293) is overstated. As a result, Lehman
Brothers upgraded its rating on Cathay to 2-Outperform from 3-Neutral. The share price target is set at $16.50, implying a 34
per cent premium to the current level.

gruß tgfn

[tgfn]

das neueste gerücht


MANSION HOUSE RESEARCH

Investor Daily - February 9, 2000

HIGHLIGHTS

Laggard play in Sing Tao (233) : News that CCT Telecom (138) will subscribe a 10%
stake in Mingpao (685)`s MingPao.com for $100mn could fuel newspaper stocks to
enjoy further gain in the near term. We see peers like Sing Tao as an attractive laggard
play as its current share price level has yet to reflect the value of its on-line newspaper
business. We estimate its current price level of $2.50 represents a very attractive 38%
discount to a conservatively estimated fair value of $4.05/share.

Citic Pacific (267) in rumours to seal high tech deals: Such rumours include share swaps
with Cisco System and Lucent and a joint venture with China Unicom to develop CDMA
business. Given the strong support from parent Citic Beijing, we believe it is just a
matter of time that Citic Pacific can be transformed from an infrastructure and property
biased conglomerate into a high tech giant. The addition of high tech elements would
lead to further upward re-rating of this counter. We maintain our BUY recommendation
on the counter.


ECONOMIC ROUNDUP

The US Productivity Cost recorded a large rise whereas the Unit Labour Cost declined
at a faster pace in the fourth quarter last year. The increase in domestic demand is expected
to exceed the growth in potential supply ahead. This will maintain the chance for a further interest
rate hike ahead.

gruß tgfn

[tgfn]

ist zwar con januar, aber trotzdem noch gültig. für all diejenigen, die nicht nur in china online(habe ich auch, aber lang nicht soviele wie citic`s)investiert sein wollen. citic ist was mit hand und fuß. tut euch mal den gefallen, und schaut den chart an



Daily Analysis Thu, 6 Jan 2000




News Commentary
Citic Pacific (0267.HK)
Outperformer/Outperformer




News Commentary




Citic Pacific (0267.HK)
3-month: Market Outperformer
A worth play.
12-month: Market Outperformer


News

Citic Pacific plans to spend HK$3.2b buying mainland telecommunications assets. (SCMP P1)

Deals

First deal

Citic Pacific and Citic Beijing will each buy 50% stake in the post-restructured Citic Guoan, which now holds the
following assets, at a price of HK$2b.

1.6% in Unicom
2.cable television networks in Beijing, Wuhan, Shenyang and Chengde cities
3.100% of Beijing International Building
4.4 GSM networks
5.an JV-plant with Lucent
6.10% of Citic securities



Second Deal

Citic Pacific and Citic Beijing will also establish a JV called Lucky Zone Enterprises to run the planned nationwide
fibre-optic networks which are at present run by the People’s Liberation Army. The stakes and the prices of acquiring
the fibre-optic networks owned by the People’s Liberation Army will be split as follows:

Citic Pacific: 60% (HK$1,200m)
Larry Yung: 20% (HK$400m)
Citic Beijing: 20% (HK$400m)

Total price is HK$2b.

Total length of the fibre-optic networks is 32,099-kilometres. Details of the completed and non-completed portions are
as follows:

Completed: 15,706-kilometres
Non-completed: 16,393-kilometres



Total

Citic Pacific spends HK$3.2b in total. After acquiring the assets, Citic Beijing will spend further HK$4b to improve the
existing networks. The total consideration will not be worth more than HK$8b, as claimed by Larry Yung. All payment will
be settled in cash.

Goldman Sachs and BNP Peregrine will the advisers to Citic Pacific.

Comments

After the share sell-off of Cable & Wireless HKT and CLP, Citic Pacific sits with handsome cash of more than HK$8.5b.
The deal will consume most of the cash liquidated from the previous sell-off. It should have positive effect on Citic
Pacific’s share price as



1.It made clear that Citic Beijing is still in close contact with Citic Pacific and will provide strong backing to Citic
Pacific. Citic Beijing may have further asset injection into Citic Pacific. This includes VSAT satellite and the other
telecommunication assets. Citic Pacific is also in talks with Citic Beijing to form a JV investment bank.
2.Citic Beijing may want Citic Pacific to be the flagship of high-tech & communication arm, which are expected to
be the fast growing area in China. Citic Pacific is well positioned to acquire further technological or
Internet-related assets in future and is expected to reap huge return in these businesses.
3.The future development direction of Citic Pacific is now clear. It will shift to high-tech communication as its core
business, supplemented by infrastructure business and probably investment banking. Citic Pacifc will provide the
cable and fibre-optic networks to telecommunication operators and ISPs. With the opening of telecommunication
sector after China’s accession into WTO, an increasing number of ISPs and telecom leviathans will enter China.
They will need the network infrastructure. Citic Pacific, with its backbone business focus shifting to network
infrastructure, will benefit from the booming of internet and telecommunication tide in China. Concerning the
infrastructure side, Citic Pacific will form a holding company called Citic Pacific China Holdings, to hold future
mainland investment funded by yuan borrowings, which will reduce the currency risk exposure in the infrastructure
businesses in China.
4.The market capitalization of Citic Guoan’s A-share is now worth Rmb1b. 50% ownership would then translate into
Rmb500m. This coupled with 3% shares of Unicom and 5% of Citic securities that Citic Paciifc will own should be
worth more than HK$1,200m, the price that Citic Pacific pays to Citic Guoan to swap for 50% of its assets. Citic
Guoan now has 5m subscribers of cable television. Mr. Larry Yung expects the subscribers will reach 7m by the
end of Y2000. Based on HK$9.3 per share, the closing price of i-cable on January 5, 2000 and the total number
i-cable subscribers at 400,000, each subscriber of cable television at i-Cable is valued at US$6,003
(HK$46,825). Now that Citic Pacifc will soon own about 2.5m subscribers (50% share). Based on the valuation of
i-Cable, the valuation of Citic Pacific’s cable TV subscribers should be at US$15b (HK$117b), resulting in a
HK$55 per share increase. Though this valuation method may over-estimate the share price effect on Citic
Pacific, (as taken into account of the fact that the charge on cable TV subscribers in HK is significantly different
from those in China, and the cable TV environment is subjected to greater volatility in China), we have no doubt
that the deal should be beneficial to Citic Pacific’s share price both in short-run and long-run.



Citic Pacific is now also exploring co-operation possibilities with Tsinghua University in developing the network uses
such as in banking, education, cargo flow and e-commerce. Cisco Systems and Lucent may provide fibre-optic network
technical support to Citic Pacific after the asset injection.



The share price surged by 18.6% to close at HK$35.3 with heavy turnover of HK$2.1b. We believe Citic Pacific will
have huge growth potential and recommend both 3-month and 12-month market outperformers.



gruß tgfn

[tgfn]

hallo

achtet vor allem auf die letzten absätze

CITIC Pacific (267)








2000-03-17

The 1999 net profit of CITIC Pacific increased 5.6% to $2,966
million from $2,808 million. Earnings per share was $1.394,
representing the same percentage growth against $1.32 in 1998.


The board recommended a final dividend of 55 cents per share
(98: 50 cents). In addition to the interim dividend of 20 cents
(98: 20 cents), CITIC distributed a special dividend of $2 per
share due to the disposal of a 15% interest in China Light and
Power (CLP, #2). The group still holds 130 million CLP shares
or a 6.3% stake.

Compared with the $1,514 million interim profit and the $5,320
million interim turnover, the group earned $1,452 million on
turnover of $21,104 in the second half of 1999. The decrease in
the 6-month profit should be attributed to the 50% drop from
the contributions of CLP.

But the turnaround of Cathay Pacific (293) is a good indication
of the whole Hong Kong economy, and as the airline company
made a profit of $2,191 million in 1999, this angus well for
2000. CITIC holds a 25% stake in Cathay.

As for property business, the Festival Walk shopping complex
was fully occupied, while the units of CITIC Tower and DCH
Commercial Centre were 90% leased. However, the occupancy
rate of Skyway House, an office building near the MTR
Olympic station, only booked a percentage of 60%. As
Discovery Bay Phase 9 was released for sale this February and
Phase 10 will be put on sale within 2000, its property profit in
the first half of 2000 should improve.

The trading and distribution businesses of DCH were again
suffering from the deferral of the recovery and will pick up
during 2000. The sales of vehicles declined 16% during the
period. However, DCH acquired Swire Loxley Limited in
March 2000, and this could help to enlarge its recurrent income
base. Looking ahead, the electricity generator in China will
continue to provide stable income for CITIC.

CITIC is enthusiastic in the development of communications
networks in China. It owns a 60% interest in a 32,000 km
nation-wide fiber backbone network covering 23 provinces and
municipalities and over 200 cities. Its parent CITIC Beijing also
injected a 50% stake of CITIC Guo An into the company,
allowing the group to develop business opportunities in the cable
television market and the related e-commerce.

At the share price of $41.6 and a capital base of 2,127 million
shares, CITIC is capitalized at $88.5 billion with a historical
price earnings ratio of 29.8 times. The share rose more than
40% in 2000, but the attraction of this company lies in the deals
made, rather than in the normal recurrent income, which pays
the company`s overhead. Now that they have crowded out of
the overcommitment with CLP Holdings the company now has
moer scope for wheeling and dealing.



gruß tgfn

[breakeven]

Hey tgfn, führst Du immer Selbstgespräche?

[tgfn]

bis zu den ersten 100% oft, danach kommen dann solche wie du.

[tgfn]

hallo

die meinens ernst.(wie immer: chart anschauen)

an breakeven: sorry für mein letztes posting, war schlecht drauf

Citic Pacific (0267) this afternoon announced that it has signed a project
contract worth over US$80 million (around HK$620 million) with Lucent
Technology Limited. Lucent will assist Citic in establishing a fibre optic
network in the mainland by providing the necessary technology.


gruß tgfn

[tgfn]

hallo

der einsame rufer in der wüste. verplembert nicht all eure kohle in china online (hab ich auch) und konsorten. da entsteht ein chinesischer telekom-player, und nur wenige habens bisher bemerkt. benützt eure phantasie auch mal für einen wetr wie citic pacific. der ist real, und nicht so ein 100%spekulatives geschäft wie z.b. china online. die lucent-meldung hier nochmal etwas ausführlicher aus dem hongkong-standard.

Lucent bags $624m order from Citic

By Irene Ip

CAPTION: Citic Pacific managing
director Henry Fan whispers to
thefirm`s chairman Larry Yung after
signing a contract to buy
opticalequipment from Lucent
Technologies for the
32000-kilometre ``ChinaExpress
No 1 Backbone Network``. Picture:
Samantha Sin

STORY: CHINA-backed Citic
Pacific yesterday signed a contract to buy more than US$80 million (HK$624
million) worth of optical equipment from Lucent Technologies for its backbone
telecommunications network in China.

The 32,000-kilometre ``China Express No 1 Backbone Network`` will start
operations in the third quarter, covering more than 200 cities, or 80 per cent of
the mainland`s population, with Beijing, Shanghai, Guangzhou and Wuhan in its
centre ring.

``The undertaking of this project is a strong indication of Citic Pacific`s
commitment to the development of China`s telecommunications infrastructure,``
said chairman Larry Yung Chi-kin. The red-chip conglomerate has been actively
tapping into the mainland`s fast-growing telecoms market, preparing an advanced
position in the post-World Trade Organisation (WTO) China.

Lucent`s optical network group president, Harry Bosco, said it was also Lucent`s
major strategy to develop in China, not only in optical fibre network but also
wireless telecommunication and software business. Lucent plans to set up a
500-strong R&D team in China this year.

The equipment from Lucent will enable the network to operate on the latest
400-gigabit DWDM (Dense Wave Division Multiplexing) system.

The system will facilitate the development of Central and Western China,
transmitting Chinese news, culture and art. Mr Yung said profit contribution from
the network was expected to start next year.

``Given the robust growth of Internet users and cable-TV subscribers in China, I
don`t worry at all about the revenue but rather on insufficient facility to cater for
the growth,`` he said.

Citic Pacific took a 60 per cent stake in a joint venture earlier this year to
purchase the fixed optical fibre network for two billion yuan (HK$1.88 billion).
Citic Pacific`s parent, China International Trust and Investment Corp, and Mr
Yung each have a 20 per cent stake in the joint venture.

Meanwhile, Citic Pacific has signed a five-year HK and US dollar dual-currency
syndicated facility with 20 local and international banks including Bank of China
and HSBC.

The HK$2.2 billion facility carries an interest margin of 0.68 per cent over
Hibor/Libor.

gruß tgfn

[fuel cell]

Hallo tgfn,

seit Januar ca + 100%, sehr stabiler Chart (besonders diese Woche = noch keine Zocker dabei), Empfehlungen von Top-Investmenthäusern:


17 Jan 00 CITIC PACIFIC LIMITED - Merrill Lynch
http://www.infocastfn.com/weeklyresearch/267-011700.html

13 Jan 00 CITIC PACIFIC LIMITED - HSBC Securities
http://www.infocastfn.com/weeklyresearch/267-011300.html

10 Jan 00 CITIC PACIFIC LIMITED - BNP Prime Peregrine
http://www.infocastfn.com/weeklyresearch/267-011000.html


Well done - gute Arbeit !


Gruß
Fuel Cell

[fuel cell]

Die relative Stärke innerhalb dieser Woche ist schon beeindruckend ...