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18:50
C&W HKT (0008) acquires HK delivery company & sets up automated warehouse
(Infocast News) As quoted from a source, Norman Yuen, Deputy Chief Executive of C&W HKT (0008), today said that the company has acquired a local
delivery company in order to develop logistics management business, and plans to set up an automated warehouse 1 1/2 or 2 years later. Moreover, the
company will look for chances of development in Southern China besides the development of logistics management in the local market.
Yuen has not disclosed the size of the delivery company. The company has not decided the location for the construction of the warehouse, but he emphasized
that good access is one of the main points for consideration. When the warehouse is not in service, the company will modify the present operational tower to a
warehouse and hopes that it will meet the needs.
In addition, C&W HKT yesterday announced to cooperate with CA for providing software application service for business clients through broadband
networks. Yuen also said that the company is in discussion with other companies about the relevant cooperation so as to assist the medium amd small-scale
corporations to reduce the cost of the purchase of computer softwares.
C&W HKT has earlier announced its restructure and Yuen will be responsible for the company`s businesses integrated service, financial and legal affairs. As
quoted, it is expected that the revenue from the business integrated service will consist of 20% of the total revenue of the company 3 years later.
(07/03/00)
C&W HKT (0008) acquires HK delivery company & sets up automated warehouse
(Infocast News) As quoted from a source, Norman Yuen, Deputy Chief Executive of C&W HKT (0008), today said that the company has acquired a local
delivery company in order to develop logistics management business, and plans to set up an automated warehouse 1 1/2 or 2 years later. Moreover, the
company will look for chances of development in Southern China besides the development of logistics management in the local market.
Yuen has not disclosed the size of the delivery company. The company has not decided the location for the construction of the warehouse, but he emphasized
that good access is one of the main points for consideration. When the warehouse is not in service, the company will modify the present operational tower to a
warehouse and hopes that it will meet the needs.
In addition, C&W HKT yesterday announced to cooperate with CA for providing software application service for business clients through broadband
networks. Yuen also said that the company is in discussion with other companies about the relevant cooperation so as to assist the medium amd small-scale
corporations to reduce the cost of the purchase of computer softwares.
C&W HKT has earlier announced its restructure and Yuen will be responsible for the company`s businesses integrated service, financial and legal affairs. As
quoted, it is expected that the revenue from the business integrated service will consist of 20% of the total revenue of the company 3 years later.
(07/03/00)
14:55
Linus Cheung: PCCW`s takeover of C&W HKT will be completed on 5 June
(Infocast News) Linus Cheung, Chief Executive of C&W HKT (0008), predicts that the whole process of PCCW`s takeover of C&W HKT will be formally completed on 5
June including PCCW`s proposal submission to C&W, then C&W will convene a board meeting followed by an AGM to vote on the proposal.
Otherwise, he has not heard of Deutsche Telekom`s takeover of C&W before.
(07/03/00)
Linus Cheung: PCCW`s takeover of C&W HKT will be completed on 5 June
(Infocast News) Linus Cheung, Chief Executive of C&W HKT (0008), predicts that the whole process of PCCW`s takeover of C&W HKT will be formally completed on 5
June including PCCW`s proposal submission to C&W, then C&W will convene a board meeting followed by an AGM to vote on the proposal.
Otherwise, he has not heard of Deutsche Telekom`s takeover of C&W before.
(07/03/00)
18:09
Asia Satellite (1135) in talks with companies on new development
(Infocast News) Peter Jackson, Chief Executive Officer of Asia Satellite (1135), said in a press conference this afternoon that the company now has no intention to
invest into the field other than satellite but will cooperate with other companies to develop new projects. He, however, was unwilling to disclose the details of cooperation.
He added that Pacific Century CyberWorks (1186)(PCCW) rents a transponder from the company and more will be rented in the future, but he refused to disclose the
number of transponders PCCW will rent.
With regard to the case that the contribution from Star TV dropped from 28% in 1998 to 17% in 1999, Jackson believed that more small-scale market participants will
rent satellites from the company in the future following the issue of several pay-TV licences by the Government.
Installation and Testing are underway on the internet platforms offered by the company. More details will be announced during formal launching.
Meanwhile, the launching of Asia Satellite No.4 will be postponed until the end of 2001 or the beginning of 2002.
(07/03/00)
Asia Satellite (1135) in talks with companies on new development
(Infocast News) Peter Jackson, Chief Executive Officer of Asia Satellite (1135), said in a press conference this afternoon that the company now has no intention to
invest into the field other than satellite but will cooperate with other companies to develop new projects. He, however, was unwilling to disclose the details of cooperation.
He added that Pacific Century CyberWorks (1186)(PCCW) rents a transponder from the company and more will be rented in the future, but he refused to disclose the
number of transponders PCCW will rent.
With regard to the case that the contribution from Star TV dropped from 28% in 1998 to 17% in 1999, Jackson believed that more small-scale market participants will
rent satellites from the company in the future following the issue of several pay-TV licences by the Government.
Installation and Testing are underway on the internet platforms offered by the company. More details will be announced during formal launching.
Meanwhile, the launching of Asia Satellite No.4 will be postponed until the end of 2001 or the beginning of 2002.
(07/03/00)
Pacific Century CyberWorks Invests in Intelligenesis Corp.
Business Wire - March 07, 2000 12:13
Jump to first matched term
NEW YORK--(BUSINESS WIRE)--March 7, 2000--Pacific Century CyberWorks Limited ("PCCW" HKSE: 1186), the Hong Kong listed technology flagship of Pacific
Century Group today announced an 8 percent stake investment in Intelligenesis Corporation, a software company developing artificial intelligence technology.
Webmind(TM), Intelligenesis` flagship product, is an artificial intelligence system that not only understands the meaning of concepts expressed in text, speech and
numerical data patterns, but also creates its own ideas based on the information it accesses. The technology can be used in various applications, such as financial
trading and automatic categorization of textual and numerical data.
"This is an exciting opportunity for us to invest in this innovative technology with the potential to revolutionize the way individuals and businesses interact with
computers," said Alex Arena, Group Managing Director, Pacific Century CyberWorks. "We haven`t even begun to imagine all that will be possible with `digital intuition.`
Lifeless data and text will start to resemble everyday human knowledge and understanding."
"PCCW`s investment will help us push information technology past the current boundaries," said Andy Siciliano, CEO of Intelligenesis Corp. "Our technology,
Webmind(TM), will be the engine behind an advanced generation of web-based financial and information services, solving the very problem of information overload
created by new technologies."
About Intelligenesis Corporation
Intelligenesis Corporation is a development-stage software company pioneering a new breed of digital intelligence for the Internet information economy. The Company is
developing an artificial intelligence software architecture that understands the meaning of concepts expressed in text, speech, and numerical data patterns. By
transforming documents and databases into a dynamic mind-like network of associations, WebMind can distinguish meaning in unstructured text, where the bulk of
human knowledge is stored. In this way, human experience and psychology can be quantified for use in business analytics and decision-making. The Company intends
to use the WebMind engine to develop a portfolio of advanced web-based financial and information products and services. Two of these products are in an advanced
stage of development, and are expected for release this year. Intelligenesis currently has approximately 90 employees located primarily in New York City and Brazil.
http://www.intelligenesis.net.
About Pacific Century CyberWorks
Pacific Century CyberWorks Limited (PCCW), the Hong Kong-listed technology flagship of the Pacific Century Group (www.pcg-group.com) is comprised of three main
businesses: Pacific Convergence Corporation, CyberWorks Ventures and the Cyber-Port project.
Pacific Convergence Corporation (PCC) plans to be the world`s leading provider of broadband Internet services, to be initially launched in Asia and serving 130 million
cabled households. PCC`s NOW (Network of the World) will offer the world`s first fully converged service with interactive digital video viewing and Web access
beginning with the first phase in 2000.
CyberWorks Ventures (CWV), PCCW`s Internet incubator company, has invested in some 40 companies around the world, including technology enablers, e-commerce
and content companies.
PCCW`s strategic partners number among the world`s leading Internet and technology companies, including Intel, the world leader in semiconductor design and
manufacture, CMGi, America`s foremost Internet incubator, and Hikari Tsushin, Japan`s second biggest Internet company.
CONTACT: Intelligenesis Corporation
Lisa Pazer, 212/324-2001
lisa@intelligenesis.net
or
Pacific Century CyberWorks Ltd.
Joan Wagner, 852-2514-8883 or 852-2514-8647
joanwagner@pcg-group.com
or
Fleishman-Hillard, for PCCW
Sandra Chu, 415/356-1017
chus@fleishman.com
Business Wire - March 07, 2000 12:13
Jump to first matched term
NEW YORK--(BUSINESS WIRE)--March 7, 2000--Pacific Century CyberWorks Limited ("PCCW" HKSE: 1186), the Hong Kong listed technology flagship of Pacific
Century Group today announced an 8 percent stake investment in Intelligenesis Corporation, a software company developing artificial intelligence technology.
Webmind(TM), Intelligenesis` flagship product, is an artificial intelligence system that not only understands the meaning of concepts expressed in text, speech and
numerical data patterns, but also creates its own ideas based on the information it accesses. The technology can be used in various applications, such as financial
trading and automatic categorization of textual and numerical data.
"This is an exciting opportunity for us to invest in this innovative technology with the potential to revolutionize the way individuals and businesses interact with
computers," said Alex Arena, Group Managing Director, Pacific Century CyberWorks. "We haven`t even begun to imagine all that will be possible with `digital intuition.`
Lifeless data and text will start to resemble everyday human knowledge and understanding."
"PCCW`s investment will help us push information technology past the current boundaries," said Andy Siciliano, CEO of Intelligenesis Corp. "Our technology,
Webmind(TM), will be the engine behind an advanced generation of web-based financial and information services, solving the very problem of information overload
created by new technologies."
About Intelligenesis Corporation
Intelligenesis Corporation is a development-stage software company pioneering a new breed of digital intelligence for the Internet information economy. The Company is
developing an artificial intelligence software architecture that understands the meaning of concepts expressed in text, speech, and numerical data patterns. By
transforming documents and databases into a dynamic mind-like network of associations, WebMind can distinguish meaning in unstructured text, where the bulk of
human knowledge is stored. In this way, human experience and psychology can be quantified for use in business analytics and decision-making. The Company intends
to use the WebMind engine to develop a portfolio of advanced web-based financial and information products and services. Two of these products are in an advanced
stage of development, and are expected for release this year. Intelligenesis currently has approximately 90 employees located primarily in New York City and Brazil.
http://www.intelligenesis.net.
About Pacific Century CyberWorks
Pacific Century CyberWorks Limited (PCCW), the Hong Kong-listed technology flagship of the Pacific Century Group (www.pcg-group.com) is comprised of three main
businesses: Pacific Convergence Corporation, CyberWorks Ventures and the Cyber-Port project.
Pacific Convergence Corporation (PCC) plans to be the world`s leading provider of broadband Internet services, to be initially launched in Asia and serving 130 million
cabled households. PCC`s NOW (Network of the World) will offer the world`s first fully converged service with interactive digital video viewing and Web access
beginning with the first phase in 2000.
CyberWorks Ventures (CWV), PCCW`s Internet incubator company, has invested in some 40 companies around the world, including technology enablers, e-commerce
and content companies.
PCCW`s strategic partners number among the world`s leading Internet and technology companies, including Intel, the world leader in semiconductor design and
manufacture, CMGi, America`s foremost Internet incubator, and Hikari Tsushin, Japan`s second biggest Internet company.
CONTACT: Intelligenesis Corporation
Lisa Pazer, 212/324-2001
lisa@intelligenesis.net
or
Pacific Century CyberWorks Ltd.
Joan Wagner, 852-2514-8883 or 852-2514-8647
joanwagner@pcg-group.com
or
Fleishman-Hillard, for PCCW
Sandra Chu, 415/356-1017
chus@fleishman.com
11:29
iMerchant proposes to bring in PCCW (1186) as shareholder
(Infocast News) As quoted by Apple Daily, a market source told that iMerchant, controlled by Leroy Kung, will get PCCW (1186) as its strategic shareholder
prior to its listing, PCCW will acquire 10% stakes in iMerchants, consideration price not disclosed.
The report stated that iMerchants plans to be GEM-listed next month and will have its listing hearing in the middle of this month.
(08/03/00)
iMerchant proposes to bring in PCCW (1186) as shareholder
(Infocast News) As quoted by Apple Daily, a market source told that iMerchant, controlled by Leroy Kung, will get PCCW (1186) as its strategic shareholder
prior to its listing, PCCW will acquire 10% stakes in iMerchants, consideration price not disclosed.
The report stated that iMerchants plans to be GEM-listed next month and will have its listing hearing in the middle of this month.
(08/03/00)
Lang erwartet - nun realität!
Li auf dem Cover von TIME.
MARCH 13, 2000 VOL. 155 NO. 10
The Son Also Surprises
With a stunning takeover of Hong Kong`s telecom
giant, Richard Li steps out from the shadow of his
tycoon father, Li Ka-shing
Hier der Link zum Time-Artikel:
http://cnn.com/ASIANOW/time/magazine/2000/0313/cover1.html
viel spass beim lesen
ataraxie
Li auf dem Cover von TIME.
MARCH 13, 2000 VOL. 155 NO. 10
The Son Also Surprises
With a stunning takeover of Hong Kong`s telecom
giant, Richard Li steps out from the shadow of his
tycoon father, Li Ka-shing
Hier der Link zum Time-Artikel:
http://cnn.com/ASIANOW/time/magazine/2000/0313/cover1.html
viel spass beim lesen
ataraxie
Singapore Telecom Open to Buying Assets From CyberWorks-HKT
Bloomberg News
Mar 8 2000 11:22AM ET
Singapore, March 8 (Bloomberg) -- Singapore Telecommunications Ltd., the island`s dominant phone company, said it may be willing to buy assets sold from the combination of Pacific Century
CyberWorks Ltd. and Cable & Wireless HKT Ltd.
SingTel last week lost its bid for HKT, its Hong Kong counterpart. HKT`s U.K. parent, Cable & Wireless Plc., decided to accept the bid from CyberWorks, or PCCW, Asia`s No. 3 Internet
investment company, controlled by Hong Kong`s Richard Li, the second son of Li Ka-shing.
``SingTel is open to considering buying assets spun off from PCCW-HKT if the opportunity arises,`` said Ivan Tan, SingTel`s director of corporate communications.
This comes as SingTel said at the end of last week its offer for HKT still stands if the CyberWorks pact falls through. The Singapore company is attempting to expand its reach in Asia as its
home market is open to full competition in three weeks.
Analysts say they expect SingTel to buy the fixed and cellular assets from PCCW-HKT, as these are the ones CyberWorks will likely sell because they`re not directly related to its Internet
business.
SingTel disputed criticism it was slow to react to CyberWorks` counter bid because it`s 76 percent-owned by the Singapore government. The phone company cited a pact for a $1 billion
investment from News Corp., the media company controlled by Rupert Murdoch, which was signed in just 12 hours.
The investment, which was to help SingTel secure the HKT bid, was withdrawn after CyberWorks emerged as the bid winner. SingTel has said when it first announced the News Corp. investment
that it was contingent on making the winning bid.
Bloomberg News
Mar 8 2000 11:22AM ET
Singapore, March 8 (Bloomberg) -- Singapore Telecommunications Ltd., the island`s dominant phone company, said it may be willing to buy assets sold from the combination of Pacific Century
CyberWorks Ltd. and Cable & Wireless HKT Ltd.
SingTel last week lost its bid for HKT, its Hong Kong counterpart. HKT`s U.K. parent, Cable & Wireless Plc., decided to accept the bid from CyberWorks, or PCCW, Asia`s No. 3 Internet
investment company, controlled by Hong Kong`s Richard Li, the second son of Li Ka-shing.
``SingTel is open to considering buying assets spun off from PCCW-HKT if the opportunity arises,`` said Ivan Tan, SingTel`s director of corporate communications.
This comes as SingTel said at the end of last week its offer for HKT still stands if the CyberWorks pact falls through. The Singapore company is attempting to expand its reach in Asia as its
home market is open to full competition in three weeks.
Analysts say they expect SingTel to buy the fixed and cellular assets from PCCW-HKT, as these are the ones CyberWorks will likely sell because they`re not directly related to its Internet
business.
SingTel disputed criticism it was slow to react to CyberWorks` counter bid because it`s 76 percent-owned by the Singapore government. The phone company cited a pact for a $1 billion
investment from News Corp., the media company controlled by Rupert Murdoch, which was signed in just 12 hours.
The investment, which was to help SingTel secure the HKT bid, was withdrawn after CyberWorks emerged as the bid winner. SingTel has said when it first announced the News Corp. investment
that it was contingent on making the winning bid.
Peace Ataraxie!
Auch wenn´s hier nicht reinpaßt:
3 x Lob für Deine konstante Recherche!! Weiter so!
Thanx, seitfallzieher
Ich finde, daß TIME - Interview paßt gut hier rein:
TIME: Who initially came up with the idea of taking over Hongkong Telecom?
Li: It was over Chinese New Year, and I was overseas looking at other
investments. My colleagues were back in Hong Kong looking at the numbers.
Anyway, I never dismiss ideas unless they are really far-fetched but quite
frankly, I was saying to my colleagues, `Yeah, right. This is so big, so large, it
cannot be done.` But I played it cool and said `O.K.` We had been looking at
something similar overseas, though it was quite a bit smaller, about a quarter in
size. So I decided to abandon my trip and go back. The concept for the deal
was not started by me. Our company has a very horizontal model, and it`s not
top-down. We are a team.
TIME: Was it Francis Yuen (deputy chairman of
Pacific Century Group)?
Li: No, it came from our team.
TIME: What`s HKT`s appeal?
Li: The people, the broadband experience, the
cellular operation--which is important, because 3G
[third-generation] mobile is the future of the
Internet. It is so important now to merge content
with 3G technology. To me, this deal represented
the marriage of the head, with the arms and the
legs and the body. We had the head--a pretty big
head--but our legs and our arms have been
underdeveloped. We`ve thought out things pretty
deeply and that`s very important. But we now have
the body--the internal management
infrastructure--with HKT. The objective was
obtaining expertise and human talent--engineering
talent and management talent--that we can
leverage off.
TIME: Will this deal change the direction of Pacific
Century CyberWorks?
Li: No, but there`s a lot of hard work ahead. But I`m
lucky because my colleagues are very
motivated--they`re also very well rewarded.
TIME: So they make lots of money?
Li: We`ve got over a billion dollars in our budget
now.
TIME: Did you discuss the deal with the Beijing
government?
Li: I did have one breakfast with the chairman of
the Bank of China, but the deal was actually done
before that breakfast.
TIME: A lot of people are saying that you will chop
HKT into little pieces and sell them off. What are
you going to do with the company?
Li: There are a lot of good companies here
developing content. At the moment well over 50%
of our content--the development and the packaging
and everything--is done overseas in London. At the
end of the day, one needs local content. And the
largest html team is at HKT. So that`s what we will
take advantage of first. After that, any sell-offs will
have to be decided once we get our management
team together.
TIME: Everyone in the industry seems to get
starry-eyed talking about what great deals you
make.
Li: I don`t know if I think of us as dealmakers. I
truly think our venture side is great; we`re always
finding ourselves out of breath. But now that we`ve
got some human infrastructure, that came with the
deal, I think it will be better. Doing ventures is
great--I`m talking economics now--if you`ve got a
rising market. It`s wonderful. If I hadn`t got HKT, I
would have been just as happy. Because there`s a
price for everything. And to overpay for something
is awful.
TIME: You have no operating profits. You`ve been
listed for 10 months. How did you persuade Cable
& Wireless shareholders to accept your stock?
Was it your billion-dollar share placement?
Li: Did we want to show off and say, `See what we
can do?` The answer is, well, probably yes. We
were told by the bankers that the demand was high
enough that we could do two placements instead
of one, and I wish we`d done two, quite frankly. But
we really wanted our shares to be in high demand
and then trade up. If the shares are not widely
traded and can`t attract the interest that makes
them go up and down all the time, you can`t raise
money. What I wanted to show the seller was that
we did have that, but it was also to show off a bit.
But another thing: this deal will take three to four
months to close and there`s still unforeseeable
circumstances that might make it implausible.
Everyone is assuming the deal has been done, but there`s still a risk that it can
be undone.
TIME: SingTel is clearly the loser in this deal.
Li: I wouldn`t put it that way.
TIME: Well, the temporary loser.
Li: O.K., I`ll put it that way.
TIME: What would you tell SingTel`s Lee Hsien Yang?
Li: We`re interested in any transactions which would benefit our shareholders.
There are no bad feelings at all. The same thing with News Corp. A lot of people
said, `Aren`t you mad that News Corp. made a deal with the other side? Don`t
you want to purge HKT`s agreement with News Corp.?` Of course not. Anything
that is mutually beneficial for our shareholders is fine.
TIME: Is this a victory of Hong Kong over Singapore?
Li: No, not at all. These are truly global transactions. But the number of quality
start-ups in Hong Kong has shot up. We are way ahead of any Southeast Asian
country, and I would dare to say that we are on par with Japan. But I realize
now one thing that I overlooked about Hong Kong was the depth of the financial
markets. That, combined with management and technological know-how. And
you know, if you don`t have funding, eventually you fall flat on your face. If you
look at some of the smaller capital markets in Asia, when they want funding
they either come here to Hong Kong or they go to California, the mecca of the
Internet, because they can capture the liquidity and then move on and do what
they want to do, which is develop a business. And the reason why Japan is so
far ahead is because their market is so big.
TIME: What was the first thing you did when the deal was struck?
Li: Well, I had a good night`s sleep...
TIME: That`s how you celebrated, you slept?
Li: Well you know the worst thing to deal with is uncertainty. We suspended
shares Friday, we thought we had the deal done on Sunday, but then by
Monday it still wasn`t official. Some dealer in London then called me up and told
me it had gone through--and even then I didn`t believe him...I slept.
TIME: What`s your business philosophy? How would you describe your empire?
Li: I wouldn`t call it an empire, but if I die one day on the tennis court having left
some brand name, and underneath that brand name is innovation and goods
and services that make people feel, like--wow!--you know, I paid that much
money and it really improved my life, and at the same time I`ve left some sort of
sustainable management to keep it going forward, then I`ll be a happy man. I
want to create something like Sony. Not in terms of manufacturing products but
creating something that is innovative, makes money, improves peoples`
lives...PCCW is really a team. I challenge anyone in Asia to find a team like
ours. We want to have more talent under one roof than any brand name.
TIME: Who are you trying to emulate? Jerry Yang? Bill Gates, Winston
Churchill?
Li: Someone like Akia Morita (co-founder of Sony)
TIME: You are known as a cold, unemotional dealmaker.
Li: I`ve been told I`m not cold enough. I think my colleagues are, so that`s good.
TIME: On a lighter note, do you have a private jet?
Li: No, but I`ve had a plane for a long time.
TIME: What do you do in your spare time?
Li: I like jet skiing.
TIME: Where`s your favorite place in the world?
Li: I`ve spent a good part of my life in Silicon Valley, California, and I really like
that place.
TIME: So is that where you will retire?
Li: Probably not. Perhaps in my mid-`40s I`ll take a sabbatical and go back to
school there for a few years. It`s a good place for it. California is enormously
competitive, it keeps the mind going.
TIME: Did you really once flip burgers at McDonald`s?
Li: No, I was a cashier. I was also a caddy. As a teenager I was given a very
small allowance but you need some extra money to chase women, you know?
TIME: That apron must have really been a turn-on.
Li: Hey, when you`re getting paid, it doesn`t matter.
Auch wenn´s hier nicht reinpaßt:
3 x Lob für Deine konstante Recherche!! Weiter so!
Thanx, seitfallzieher
Ich finde, daß TIME - Interview paßt gut hier rein:
TIME: Who initially came up with the idea of taking over Hongkong Telecom?
Li: It was over Chinese New Year, and I was overseas looking at other
investments. My colleagues were back in Hong Kong looking at the numbers.
Anyway, I never dismiss ideas unless they are really far-fetched but quite
frankly, I was saying to my colleagues, `Yeah, right. This is so big, so large, it
cannot be done.` But I played it cool and said `O.K.` We had been looking at
something similar overseas, though it was quite a bit smaller, about a quarter in
size. So I decided to abandon my trip and go back. The concept for the deal
was not started by me. Our company has a very horizontal model, and it`s not
top-down. We are a team.
TIME: Was it Francis Yuen (deputy chairman of
Pacific Century Group)?
Li: No, it came from our team.
TIME: What`s HKT`s appeal?
Li: The people, the broadband experience, the
cellular operation--which is important, because 3G
[third-generation] mobile is the future of the
Internet. It is so important now to merge content
with 3G technology. To me, this deal represented
the marriage of the head, with the arms and the
legs and the body. We had the head--a pretty big
head--but our legs and our arms have been
underdeveloped. We`ve thought out things pretty
deeply and that`s very important. But we now have
the body--the internal management
infrastructure--with HKT. The objective was
obtaining expertise and human talent--engineering
talent and management talent--that we can
leverage off.
TIME: Will this deal change the direction of Pacific
Century CyberWorks?
Li: No, but there`s a lot of hard work ahead. But I`m
lucky because my colleagues are very
motivated--they`re also very well rewarded.
TIME: So they make lots of money?
Li: We`ve got over a billion dollars in our budget
now.
TIME: Did you discuss the deal with the Beijing
government?
Li: I did have one breakfast with the chairman of
the Bank of China, but the deal was actually done
before that breakfast.
TIME: A lot of people are saying that you will chop
HKT into little pieces and sell them off. What are
you going to do with the company?
Li: There are a lot of good companies here
developing content. At the moment well over 50%
of our content--the development and the packaging
and everything--is done overseas in London. At the
end of the day, one needs local content. And the
largest html team is at HKT. So that`s what we will
take advantage of first. After that, any sell-offs will
have to be decided once we get our management
team together.
TIME: Everyone in the industry seems to get
starry-eyed talking about what great deals you
make.
Li: I don`t know if I think of us as dealmakers. I
truly think our venture side is great; we`re always
finding ourselves out of breath. But now that we`ve
got some human infrastructure, that came with the
deal, I think it will be better. Doing ventures is
great--I`m talking economics now--if you`ve got a
rising market. It`s wonderful. If I hadn`t got HKT, I
would have been just as happy. Because there`s a
price for everything. And to overpay for something
is awful.
TIME: You have no operating profits. You`ve been
listed for 10 months. How did you persuade Cable
& Wireless shareholders to accept your stock?
Was it your billion-dollar share placement?
Li: Did we want to show off and say, `See what we
can do?` The answer is, well, probably yes. We
were told by the bankers that the demand was high
enough that we could do two placements instead
of one, and I wish we`d done two, quite frankly. But
we really wanted our shares to be in high demand
and then trade up. If the shares are not widely
traded and can`t attract the interest that makes
them go up and down all the time, you can`t raise
money. What I wanted to show the seller was that
we did have that, but it was also to show off a bit.
But another thing: this deal will take three to four
months to close and there`s still unforeseeable
circumstances that might make it implausible.
Everyone is assuming the deal has been done, but there`s still a risk that it can
be undone.
TIME: SingTel is clearly the loser in this deal.
Li: I wouldn`t put it that way.
TIME: Well, the temporary loser.
Li: O.K., I`ll put it that way.
TIME: What would you tell SingTel`s Lee Hsien Yang?
Li: We`re interested in any transactions which would benefit our shareholders.
There are no bad feelings at all. The same thing with News Corp. A lot of people
said, `Aren`t you mad that News Corp. made a deal with the other side? Don`t
you want to purge HKT`s agreement with News Corp.?` Of course not. Anything
that is mutually beneficial for our shareholders is fine.
TIME: Is this a victory of Hong Kong over Singapore?
Li: No, not at all. These are truly global transactions. But the number of quality
start-ups in Hong Kong has shot up. We are way ahead of any Southeast Asian
country, and I would dare to say that we are on par with Japan. But I realize
now one thing that I overlooked about Hong Kong was the depth of the financial
markets. That, combined with management and technological know-how. And
you know, if you don`t have funding, eventually you fall flat on your face. If you
look at some of the smaller capital markets in Asia, when they want funding
they either come here to Hong Kong or they go to California, the mecca of the
Internet, because they can capture the liquidity and then move on and do what
they want to do, which is develop a business. And the reason why Japan is so
far ahead is because their market is so big.
TIME: What was the first thing you did when the deal was struck?
Li: Well, I had a good night`s sleep...
TIME: That`s how you celebrated, you slept?
Li: Well you know the worst thing to deal with is uncertainty. We suspended
shares Friday, we thought we had the deal done on Sunday, but then by
Monday it still wasn`t official. Some dealer in London then called me up and told
me it had gone through--and even then I didn`t believe him...I slept.
TIME: What`s your business philosophy? How would you describe your empire?
Li: I wouldn`t call it an empire, but if I die one day on the tennis court having left
some brand name, and underneath that brand name is innovation and goods
and services that make people feel, like--wow!--you know, I paid that much
money and it really improved my life, and at the same time I`ve left some sort of
sustainable management to keep it going forward, then I`ll be a happy man. I
want to create something like Sony. Not in terms of manufacturing products but
creating something that is innovative, makes money, improves peoples`
lives...PCCW is really a team. I challenge anyone in Asia to find a team like
ours. We want to have more talent under one roof than any brand name.
TIME: Who are you trying to emulate? Jerry Yang? Bill Gates, Winston
Churchill?
Li: Someone like Akia Morita (co-founder of Sony)
TIME: You are known as a cold, unemotional dealmaker.
Li: I`ve been told I`m not cold enough. I think my colleagues are, so that`s good.
TIME: On a lighter note, do you have a private jet?
Li: No, but I`ve had a plane for a long time.
TIME: What do you do in your spare time?
Li: I like jet skiing.
TIME: Where`s your favorite place in the world?
Li: I`ve spent a good part of my life in Silicon Valley, California, and I really like
that place.
TIME: So is that where you will retire?
Li: Probably not. Perhaps in my mid-`40s I`ll take a sabbatical and go back to
school there for a few years. It`s a good place for it. California is enormously
competitive, it keeps the mind going.
TIME: Did you really once flip burgers at McDonald`s?
Li: No, I was a cashier. I was also a caddy. As a teenager I was given a very
small allowance but you need some extra money to chase women, you know?
TIME: That apron must have really been a turn-on.
Li: Hey, when you`re getting paid, it doesn`t matter.
Nurturing The Net`s Next Generation
By Emily Burg
www.worldlyinvestor.com
One of the hottest trends in the market these days is investing in Internet incubators, companies like CMGI (CMGI), INTERNET CAPITAL GROUP (ICGE) and
SOFTBANK (OTC -SFTBF). Investors like to use these stocks as virtual mutual funds for one-stop investing in burgeoning Internet companies. The companies these
incubators help to develop often turn into investment gold, and investors take notice of where these incubators are planting their seed money.
CMGI owns part of PACIFIC CENTURY CYBERWORKS (OPTC - PCCLF), and will soon own a larger chunk of the company. But that`s not why investors have taken
notice of this heretofore unheard of Hong Kong-based Internet and technology investment company. On February 29, the news broke that PACIFIC CENTURY
CYBERWORKS had beat SINGAPORE TELECOMMUNICATIONS (OTC - SGTCY) to the punch by acquiring HONG KONG TELECOM (HKT), which is majority owned
by CABLE & WIRELESS (CWP), for about $35 billion in either cash and stock, or all stock. CABLE & WIRELESS shareholders have been granted the right to vote for
how the deal will be financed.
The deal will enable PACIFIC CENTURY CYBERWORKS to deliver e-commerce and multimedia services to HONG KONG TELECOM`s customer base, and will give
the company a stronghold in the Chinese telecom market, one with enormous potential for growth.
Investors in CABLE & WIRELESS were shocked by the news, and sent the company`s local shares down sharply. However, the American Depositary Receipts rose to
a 52-week high on the news.
On the news of the deal, CMGI and Dallas, Tex.-based buyout firm Hicks, Muse, Tate & Furst each committed $500 million to form a joint venture with PACIFIC
CENTURY CYBERWORKS to invest up to $1.5 billion in emerging Internet businesses. CMGI will get an additional $500 million worth of PACIFIC CENTURY
CYBERWORKS` stock from CABLE & WIRELESS after the sale of HONG KONG TELECOM goes through.
The partnership with CMGI highlights PACIFIC CENTURY CYBERWORKS` potential to become an Asian Internet superstar. The company is definitely one to watch.
By Emily Burg
www.worldlyinvestor.com
One of the hottest trends in the market these days is investing in Internet incubators, companies like CMGI (CMGI), INTERNET CAPITAL GROUP (ICGE) and
SOFTBANK (OTC -SFTBF). Investors like to use these stocks as virtual mutual funds for one-stop investing in burgeoning Internet companies. The companies these
incubators help to develop often turn into investment gold, and investors take notice of where these incubators are planting their seed money.
CMGI owns part of PACIFIC CENTURY CYBERWORKS (OPTC - PCCLF), and will soon own a larger chunk of the company. But that`s not why investors have taken
notice of this heretofore unheard of Hong Kong-based Internet and technology investment company. On February 29, the news broke that PACIFIC CENTURY
CYBERWORKS had beat SINGAPORE TELECOMMUNICATIONS (OTC - SGTCY) to the punch by acquiring HONG KONG TELECOM (HKT), which is majority owned
by CABLE & WIRELESS (CWP), for about $35 billion in either cash and stock, or all stock. CABLE & WIRELESS shareholders have been granted the right to vote for
how the deal will be financed.
The deal will enable PACIFIC CENTURY CYBERWORKS to deliver e-commerce and multimedia services to HONG KONG TELECOM`s customer base, and will give
the company a stronghold in the Chinese telecom market, one with enormous potential for growth.
Investors in CABLE & WIRELESS were shocked by the news, and sent the company`s local shares down sharply. However, the American Depositary Receipts rose to
a 52-week high on the news.
On the news of the deal, CMGI and Dallas, Tex.-based buyout firm Hicks, Muse, Tate & Furst each committed $500 million to form a joint venture with PACIFIC
CENTURY CYBERWORKS to invest up to $1.5 billion in emerging Internet businesses. CMGI will get an additional $500 million worth of PACIFIC CENTURY
CYBERWORKS` stock from CABLE & WIRELESS after the sale of HONG KONG TELECOM goes through.
The partnership with CMGI highlights PACIFIC CENTURY CYBERWORKS` potential to become an Asian Internet superstar. The company is definitely one to watch.
18:36
Taiwan 2nd largest mobile phone operator may cooperate with PCCW (1186)
(Infocast News) As quoted form newswire, Joseph Fan, Chairman of Taiwan Cellular Corp, the second largest cellular phones operator, announced that PCCW (1186)
has contacted the company to form alliance to study the possibility of cooperation.
The company stated that PCCW studies ways in order to strenghten their cooperation including shares swap, joint disposal of stakes and business cooperation. He
added that the negotiation is still preliminary, but may establish a holdings company which will be listed in foreigh stocks exchange through ADR.
(09/03/00)
Taiwan 2nd largest mobile phone operator may cooperate with PCCW (1186)
(Infocast News) As quoted form newswire, Joseph Fan, Chairman of Taiwan Cellular Corp, the second largest cellular phones operator, announced that PCCW (1186)
has contacted the company to form alliance to study the possibility of cooperation.
The company stated that PCCW studies ways in order to strenghten their cooperation including shares swap, joint disposal of stakes and business cooperation. He
added that the negotiation is still preliminary, but may establish a holdings company which will be listed in foreigh stocks exchange through ADR.
(09/03/00)
10:22
Rumours on PCCW`s (1186) disposed stakes in CashOnline
(Infocast News) As quoted by Apple Daily, the market source said that PCCW (1186) invested in several Internet companies including 5% stakes in PRC
SOHU.com through its venture capital. Presently, the venture capital has invested in more than 36 Internet projects.
However, the list of investments does not include 5% investment in CashOnline. The market source pointed out that PCCW has already disposed all its stakes
in CashOnline.
However, Bankee Kwan, Chairman of Celestial Asia (1049), denied the said rumour. He explained that if PCCW disposed the stakes, it has to notify
Celestial Asia firstly according to the agreement, therefore the said rumour was impossible.
(10/03/00)
Rumours on PCCW`s (1186) disposed stakes in CashOnline
(Infocast News) As quoted by Apple Daily, the market source said that PCCW (1186) invested in several Internet companies including 5% stakes in PRC
SOHU.com through its venture capital. Presently, the venture capital has invested in more than 36 Internet projects.
However, the list of investments does not include 5% investment in CashOnline. The market source pointed out that PCCW has already disposed all its stakes
in CashOnline.
However, Bankee Kwan, Chairman of Celestial Asia (1049), denied the said rumour. He explained that if PCCW disposed the stakes, it has to notify
Celestial Asia firstly according to the agreement, therefore the said rumour was impossible.
(10/03/00)
10:58
PCCW`s (1186) syndicated loan all-in pricing not less than LIBOR+1.5%
(Infocast News) Market source closed to arrangers pointed out that PCCW`s (1186) USD 12 million syndicated loan`s all-in pricing is no less than LIHOR
plus 1.5%, as quoted from Ming Pao. This week, the company will invite other banks to be the underwriters.
Furthermore, the market source said that PCCW estimated that only 30% of C&W HKT`s (0008) minority shareholders will select shares plus cash
combination proposal involving about $59.6 billion cash. Therefore, PCCW can raise sufficient cash from the said syndicated loan and does not need financing
for the time being.
(13/03/00)
PCCW`s (1186) syndicated loan all-in pricing not less than LIBOR+1.5%
(Infocast News) Market source closed to arrangers pointed out that PCCW`s (1186) USD 12 million syndicated loan`s all-in pricing is no less than LIHOR
plus 1.5%, as quoted from Ming Pao. This week, the company will invite other banks to be the underwriters.
Furthermore, the market source said that PCCW estimated that only 30% of C&W HKT`s (0008) minority shareholders will select shares plus cash
combination proposal involving about $59.6 billion cash. Therefore, PCCW can raise sufficient cash from the said syndicated loan and does not need financing
for the time being.
(13/03/00)
mann, was seid ihr alle schlau!!!!!!
habt Ihr auch mal einen Beitrag in Deutsch
habt Ihr auch mal einen Beitrag in Deutsch
Tut mir leid, auch dieser ist in englisch, weil in Hongkong nun mal -neben chinesisch - englisch gesprochen wird:
CyberWorks to Acquire 49% Stake in Indian Company
3/13/00 10:48:00 PM Source: Bloomberg News
New Delhi, March 14 (Bloomberg) -- Pacific Century CyberWorks Ltd., Asia`s third largest Internet investment company, will buy a 49 percent stake in Data Access, a New Delhi-based Internet service provider, the Business Standard reported, citing a CyberWorks official whom it did not identify. Data Access has a category `A` license from the Indian government that allows it to provide Internet services throughout the country. The venture plans to start offering Internet access in several Indian cities, including the country`s financial hub Mumbai, by the middle of this year, the paper said.
CyberWorks to Acquire 49% Stake in Indian Company
3/13/00 10:48:00 PM Source: Bloomberg News
New Delhi, March 14 (Bloomberg) -- Pacific Century CyberWorks Ltd., Asia`s third largest Internet investment company, will buy a 49 percent stake in Data Access, a New Delhi-based Internet service provider, the Business Standard reported, citing a CyberWorks official whom it did not identify. Data Access has a category `A` license from the Indian government that allows it to provide Internet services throughout the country. The venture plans to start offering Internet access in several Indian cities, including the country`s financial hub Mumbai, by the middle of this year, the paper said.
Hi leute von heute!
neues von unserer pccw !
Heute war aus bloomberg zu entnehmen:
pccw will 49% ánteile von dem indischen internet service provider
data access uebernehmen.dieses unternehmen besitzt eine "A-lizenz"(von der indischen regierung),
die es befaehigt,internet services im ganzen land zu providen.
Diese wuerden dann in diesem jahr damit anfangen ,die groesseren staedte in indien mit internetzugangen zu beliefern.
Fazit : Riesiges potential, wie in china ,es herrscht zwar eine grose armut ,doch viele des milliardenvolkes wollen mit infos beliefert werden!
freue mich ueber beitraege -auch zu meinem perfekten englisch (*g*)
cu
neues von unserer pccw !
Heute war aus bloomberg zu entnehmen:
pccw will 49% ánteile von dem indischen internet service provider
data access uebernehmen.dieses unternehmen besitzt eine "A-lizenz"(von der indischen regierung),
die es befaehigt,internet services im ganzen land zu providen.
Diese wuerden dann in diesem jahr damit anfangen ,die groesseren staedte in indien mit internetzugangen zu beliefern.
Fazit : Riesiges potential, wie in china ,es herrscht zwar eine grose armut ,doch viele des milliardenvolkes wollen mit infos beliefert werden!
freue mich ueber beitraege -auch zu meinem perfekten englisch (*g*)
cu
14:51
PP.COM, 25%-stakes owned by PCCW, will develop websites in PRC
(Infocast News) PP.COM, 25%-stakes owned by PCCW (1186), announced this afternoon that the company will set up at least 8 offices in Asia this year, then establish
websites in Shanghai, Beijing, Guangzhou and Shenzhen. Presently, it is in talks with property institutions in US, Southeast Asia and the mainland to cooperate to
materialise Greater China concept.
PPSHANGHAI.COM, Shanghai website, will be firstly launched in April and other related websites launched later will be used to facilitate foreign investors to enter
Greater China property market.
PP.COM, 25%-stakes owned by PCCW, will develop websites in PRC
(Infocast News) PP.COM, 25%-stakes owned by PCCW (1186), announced this afternoon that the company will set up at least 8 offices in Asia this year, then establish
websites in Shanghai, Beijing, Guangzhou and Shenzhen. Presently, it is in talks with property institutions in US, Southeast Asia and the mainland to cooperate to
materialise Greater China concept.
PPSHANGHAI.COM, Shanghai website, will be firstly launched in April and other related websites launched later will be used to facilitate foreign investors to enter
Greater China property market.
15:13 14-MAR-2000
C&W HKT, Oracle form alliance for Greater China
HONG KONG, March 14 (Reuters) - Hong Kong-based Cable & Wireless HKT`s <0008.HK> Integrated eBusiness Solutions and U.S.-based Oracle Corp said they had
teamed up to launch a web-based business-to-business (B2B) electronic marketplace for the Greater China region.
They said on Tuesday they will invest HK$400 million over the next three years in the project, which will offer e-business services across a broad range of industries and
their buying organisations and suppliers.
C&W HKT, Oracle form alliance for Greater China
HONG KONG, March 14 (Reuters) - Hong Kong-based Cable & Wireless HKT`s <0008.HK> Integrated eBusiness Solutions and U.S.-based Oracle Corp said they had
teamed up to launch a web-based business-to-business (B2B) electronic marketplace for the Greater China region.
They said on Tuesday they will invest HK$400 million over the next three years in the project, which will offer e-business services across a broad range of industries and
their buying organisations and suppliers.
16:32
C&W HKT Board discuss merger proposal on 28 March
(Infocast News) Linus Cheung, Chief Executive of C&W HKT (0008), said that the proposal of Pacific Century CyberWorks (1186) (PCCW) in relation to the acquisition
has not been received yet but will be received within 2 weeks. The Board of Directors of C&W HKT has confirmed to hold a meeting to dicuss the content of the
proposal on 28 March ,and then make recommendation to shareholders. He stated that the company will inform PCCW within 14 days after the receipt of the proposal.
(14/03/00)
16:37
C&W HKT`s price movement no impact on PCCW`s takeover progress
(Infocast News) Linus Cheung, C&W HKT Chief Executive, said that despite C&W HKT`s share price plummeted, progress of PCCW`s takeover of the company will not
be affected.
Otherwise, C&W HKT and Star TV`s bidding for pay-TV licence is proceeding.
(14/03/00)
C&W HKT Board discuss merger proposal on 28 March
(Infocast News) Linus Cheung, Chief Executive of C&W HKT (0008), said that the proposal of Pacific Century CyberWorks (1186) (PCCW) in relation to the acquisition
has not been received yet but will be received within 2 weeks. The Board of Directors of C&W HKT has confirmed to hold a meeting to dicuss the content of the
proposal on 28 March ,and then make recommendation to shareholders. He stated that the company will inform PCCW within 14 days after the receipt of the proposal.
(14/03/00)
16:37
C&W HKT`s price movement no impact on PCCW`s takeover progress
(Infocast News) Linus Cheung, C&W HKT Chief Executive, said that despite C&W HKT`s share price plummeted, progress of PCCW`s takeover of the company will not
be affected.
Otherwise, C&W HKT and Star TV`s bidding for pay-TV licence is proceeding.
(14/03/00)
17:02
C&W HKT (0008) will bring in strategic partners into B2B e-commerce market
(Infocast News) Norman Yuen, C&W HKT Deputy Chief Executive, said that the company will bring in other strategic partners for its B2B e-commerce market.
Regarding to whether this business will be listed in future, he did not answer directly but said that it will consider the listing possibility of each company`s business.
Being asked whether C&W HKT and Oracle cooperation will involve stakes, he responded that both sides have not discussed arrangement on cooperation and hopes
that Asia will occupy a substantial market share soon. Also, he hopes that B2B e-commerce market will meet 1/3 of market share by end-00, and anticipates that such
business will occupy 20% of total turnover of C&W HKT. He added that C&W HKT and Oracle are expected to launch chinese version of B2B e-commerce market by
end-00 to serve Greater China Region.
Previously, HWL (0013) and ICG cooperated to develop electronic merchandizing business. However, he said that C&W HKT has sufficient experience in e-commerce
and understands customers` needs. Therefore, he does not afraid of competition. He said that the company`s charges will be competitive. At present, B2B e-commerce
market has 900,000 goods providing companies, he said that C&W HKT will continue to attract more companies to join the market.
(14/03/00)
C&W HKT (0008) will bring in strategic partners into B2B e-commerce market
(Infocast News) Norman Yuen, C&W HKT Deputy Chief Executive, said that the company will bring in other strategic partners for its B2B e-commerce market.
Regarding to whether this business will be listed in future, he did not answer directly but said that it will consider the listing possibility of each company`s business.
Being asked whether C&W HKT and Oracle cooperation will involve stakes, he responded that both sides have not discussed arrangement on cooperation and hopes
that Asia will occupy a substantial market share soon. Also, he hopes that B2B e-commerce market will meet 1/3 of market share by end-00, and anticipates that such
business will occupy 20% of total turnover of C&W HKT. He added that C&W HKT and Oracle are expected to launch chinese version of B2B e-commerce market by
end-00 to serve Greater China Region.
Previously, HWL (0013) and ICG cooperated to develop electronic merchandizing business. However, he said that C&W HKT has sufficient experience in e-commerce
and understands customers` needs. Therefore, he does not afraid of competition. He said that the company`s charges will be competitive. At present, B2B e-commerce
market has 900,000 goods providing companies, he said that C&W HKT will continue to attract more companies to join the market.
(14/03/00)
16:05
PP.COM invests $100 M to set up 8 websites, to study on dual-listing
(Infocast News) Stanley Kong, PP.COM Chief Operating Officer, said that the company will invest $100 million this year to set up 8 websites in Asia. The company is
studying with financial advisors to be dual-listed on GEM and US Nasdaq. Previously, PP.COM was invested 25% stakes by PCCW (1186).
He continued that PP.COM is studying cooperation with 3 foreign companies now. In addition, a US fund also studies on possible cooperation with PP.COM and value
the latter at around $700 million to $800 million. He underlined that PCCW invested in PP.COM in cash, yet, he was tight-lipped on the investment amount.
After PP.COM launched websites in HK, it will launch websites in Shanghai, Beijing, Guangzhou, Shenzhen, Japan, Taiwan and Singapore.
(14/03/00)
PP.COM invests $100 M to set up 8 websites, to study on dual-listing
(Infocast News) Stanley Kong, PP.COM Chief Operating Officer, said that the company will invest $100 million this year to set up 8 websites in Asia. The company is
studying with financial advisors to be dual-listed on GEM and US Nasdaq. Previously, PP.COM was invested 25% stakes by PCCW (1186).
He continued that PP.COM is studying cooperation with 3 foreign companies now. In addition, a US fund also studies on possible cooperation with PP.COM and value
the latter at around $700 million to $800 million. He underlined that PCCW invested in PP.COM in cash, yet, he was tight-lipped on the investment amount.
After PP.COM launched websites in HK, it will launch websites in Shanghai, Beijing, Guangzhou, Shenzhen, Japan, Taiwan and Singapore.
(14/03/00)
Gut recherchiert!
Sollte alle Investoren von PCCW bestätigen!
Dago
Sollte alle Investoren von PCCW bestätigen!
Dago
An Buko:
Ich lese auch viel lieber deutsche Info`s und breche mir z.T.
einen ab mit dem Englischen.
Ich bin mir aber sehr darüber bewußt, das man bei Investment`s in
USA oder Asien oder überhaupt außereuropäischer Länder Sebst bei
innereuropäischen), man sich halt mit dem englischen
auseinandersetzen MUSS!!!
Sonst sollte man die Finger davon lassen, da man dann nur auf Beiträge
in den Boards angewiesen ist.
Gruß Grinsekopp
Ich lese auch viel lieber deutsche Info`s und breche mir z.T.
einen ab mit dem Englischen.
Ich bin mir aber sehr darüber bewußt, das man bei Investment`s in
USA oder Asien oder überhaupt außereuropäischer Länder Sebst bei
innereuropäischen), man sich halt mit dem englischen
auseinandersetzen MUSS!!!
Sonst sollte man die Finger davon lassen, da man dann nur auf Beiträge
in den Boards angewiesen ist.
Gruß Grinsekopp
Für die, die etwas schwierigkeiten mit dem englischen haben:
ladet euch den BABYLON TRANSLATOR von http://www.babylon.com
herunter (ist freeware). ist leicht zu bedienen und kann in fast
jeder applikation benutzt werden. sehr hilfreich wenn man schnell
ein wort übersetzten will.
grüsse
ataraxie
ladet euch den BABYLON TRANSLATOR von http://www.babylon.com
herunter (ist freeware). ist leicht zu bedienen und kann in fast
jeder applikation benutzt werden. sehr hilfreich wenn man schnell
ein wort übersetzten will.
grüsse
ataraxie
Hong Kong`s Broadband Blues
With most content coming from the U.S., even fast connections in Asia can be agonizingly slow
For some inexplicable reason (to me at least), my young daughter loves Barbie dolls. She can`t get enough of the prissy things. So one day last year, when we were
playing around on the computer at home, I decided to show her the Internet site, www.barbie.com. I figured it would be fun, maybe even a little educational. And since I
had signed up for the high-speed service of Cable & Wireless HKT, I figured Broadband Barbie would flash on our home computer screen instantly.
It didn`t work out that way. While my daughter sat fidgeting, different parts of the Barbie site appeared on the screen slowly, ever so slowly. We persevered for a little
while, sitting through lengthy delays as the bits traveled across the Pacific. But soon the waiting got to both of us. After too many minutes spent staring at a half-blank
computer monitor, we gave up, logged off, and popped in a CD-ROM.
A few months later, my family moved to a new apartment. Before the move, I called the phone company and asked to transfer my broadband service to the new flat.
Sorry, said HKT, it couldn`t offer broadband to my new building, which had not yet been wired for it. Recalling my daughter`s squirming as she waited for Broadband
Barbie, I decided this was for the best. After all, if broadband is that slow, who needs it?
BOTTLENECK CRAWL. That`s a question that Richard Li needs to answer, fast. As head of Pacific Century CyberWorks, Li is Hong Kong`s Internet wonder boy, and
he has just engineered the takeover of HKT, the local telecom power once known simply as Hong Kong Telecom. One of HKT`s main attractions is its broadband
infrastructure and service, something that`s especially valuable for PCCW, which plans to launch a broadband service of its own later this year that will deliver
high-speed Internet access to consumers throughout Asia.
But how fast will the service really be? The problem with broadband in places like Hong Kong is that, all too often, the speed just isn`t there. And the reason has to do
with an issue that has troubled the Asian Internet for years. The Internet is still dominated by sites in the U.S., and so the connections between Hong Kong and the
States -- actually, between most places in Asia and the States -- can get very congested. And no matter how fat the pipe is in Hong Kong, if there`s a bottleneck
somewhere else, traffic slows to a crawl, broadband or no broadband.
That`s one reason why broadband has been a flop so far in Hong Kong and Singapore. In both cities, the major telecom operators have been offering high-speed access
for almost two years. And in both cities, the market response has been underwhelming, as too often, broadband fails to deliver on the promise of high-speed service.
LOCAL CONTENT. With its plans to use satellites to beam the Internet across Asia, PCCW probably figures it can beat the gridlock. Li also wants to solve this problem
by avoiding the congested trans-Pacific link. PCCW is working to create enough interesting content of its own that consumers won`t feel as much of a need to access
sites in the U.S. If Hong Kong`s Web surfers can be persuaded to stick to Hong Kong sites, then it`ll be fairly easy to deliver the thrilling, high-speed experience that
broadband marketers promise.
The need for local content explains why Li can ill-afford to junk HKT`s joint venture with Rupert Murdoch`s Star TV. The satellite-television network -- which Li launched
before selling to News Corp. in 1993 -- announced a deal with HKT last year to jointly develop a broadband service, with Murdoch delivering the programming and HKT
providing the pipes. During the struggle between Li and Singapore Telecom over control of HKT, Murdoch intervened at the 11th hour in a bid to keep HKT out of Li`s
hands. That failed, and now the two sides are trying to find a way to make up.
While the track record so far for broadband is not good, a lot of rivals are undeterred. HKT and PCCW are just two of many companies planning to offer broadband
service in Hong Kong this year. But investors, after an initial surge of enthusiasm, are having second thoughts.
EMPTY PROMISE? Look at one of PCCW`s local competitors, I-Cable Communications. This spin-off of Hong Kong conglomerate Wharf Holdings has the exclusive
franchise for cable television in Hong Kong and plans to offer broadband via cable modem this year. I-Cable was an investor fave when it had its IPO last November,
jumping 60% from its offer price. But it has sunk ever since. I- Cable is off 25% already this year and is now trading well below its IPO price. It`s not enough to make
promises about the wonders of high-speed Internet access. Investors want to see whether I-Cable can deliver the goods -- and as quickly as promised.
Like them, I`m reserving judgement on broadband in Hong Kong. The other day a marketer for HKT phoned with the good news that the company had finally wired our
apartment building for high-speed Net access. We could sign up again! But this time we`re in no rush. We`re waiting to see if the high-speed access really exists before
we take another chance on Broadband Barbie.
Einhorn is Asia technology correspondent for Business Week. His column appears every Monday for BW Online
EDITED BY PAUL JUDGE
With most content coming from the U.S., even fast connections in Asia can be agonizingly slow
For some inexplicable reason (to me at least), my young daughter loves Barbie dolls. She can`t get enough of the prissy things. So one day last year, when we were
playing around on the computer at home, I decided to show her the Internet site, www.barbie.com. I figured it would be fun, maybe even a little educational. And since I
had signed up for the high-speed service of Cable & Wireless HKT, I figured Broadband Barbie would flash on our home computer screen instantly.
It didn`t work out that way. While my daughter sat fidgeting, different parts of the Barbie site appeared on the screen slowly, ever so slowly. We persevered for a little
while, sitting through lengthy delays as the bits traveled across the Pacific. But soon the waiting got to both of us. After too many minutes spent staring at a half-blank
computer monitor, we gave up, logged off, and popped in a CD-ROM.
A few months later, my family moved to a new apartment. Before the move, I called the phone company and asked to transfer my broadband service to the new flat.
Sorry, said HKT, it couldn`t offer broadband to my new building, which had not yet been wired for it. Recalling my daughter`s squirming as she waited for Broadband
Barbie, I decided this was for the best. After all, if broadband is that slow, who needs it?
BOTTLENECK CRAWL. That`s a question that Richard Li needs to answer, fast. As head of Pacific Century CyberWorks, Li is Hong Kong`s Internet wonder boy, and
he has just engineered the takeover of HKT, the local telecom power once known simply as Hong Kong Telecom. One of HKT`s main attractions is its broadband
infrastructure and service, something that`s especially valuable for PCCW, which plans to launch a broadband service of its own later this year that will deliver
high-speed Internet access to consumers throughout Asia.
But how fast will the service really be? The problem with broadband in places like Hong Kong is that, all too often, the speed just isn`t there. And the reason has to do
with an issue that has troubled the Asian Internet for years. The Internet is still dominated by sites in the U.S., and so the connections between Hong Kong and the
States -- actually, between most places in Asia and the States -- can get very congested. And no matter how fat the pipe is in Hong Kong, if there`s a bottleneck
somewhere else, traffic slows to a crawl, broadband or no broadband.
That`s one reason why broadband has been a flop so far in Hong Kong and Singapore. In both cities, the major telecom operators have been offering high-speed access
for almost two years. And in both cities, the market response has been underwhelming, as too often, broadband fails to deliver on the promise of high-speed service.
LOCAL CONTENT. With its plans to use satellites to beam the Internet across Asia, PCCW probably figures it can beat the gridlock. Li also wants to solve this problem
by avoiding the congested trans-Pacific link. PCCW is working to create enough interesting content of its own that consumers won`t feel as much of a need to access
sites in the U.S. If Hong Kong`s Web surfers can be persuaded to stick to Hong Kong sites, then it`ll be fairly easy to deliver the thrilling, high-speed experience that
broadband marketers promise.
The need for local content explains why Li can ill-afford to junk HKT`s joint venture with Rupert Murdoch`s Star TV. The satellite-television network -- which Li launched
before selling to News Corp. in 1993 -- announced a deal with HKT last year to jointly develop a broadband service, with Murdoch delivering the programming and HKT
providing the pipes. During the struggle between Li and Singapore Telecom over control of HKT, Murdoch intervened at the 11th hour in a bid to keep HKT out of Li`s
hands. That failed, and now the two sides are trying to find a way to make up.
While the track record so far for broadband is not good, a lot of rivals are undeterred. HKT and PCCW are just two of many companies planning to offer broadband
service in Hong Kong this year. But investors, after an initial surge of enthusiasm, are having second thoughts.
EMPTY PROMISE? Look at one of PCCW`s local competitors, I-Cable Communications. This spin-off of Hong Kong conglomerate Wharf Holdings has the exclusive
franchise for cable television in Hong Kong and plans to offer broadband via cable modem this year. I-Cable was an investor fave when it had its IPO last November,
jumping 60% from its offer price. But it has sunk ever since. I- Cable is off 25% already this year and is now trading well below its IPO price. It`s not enough to make
promises about the wonders of high-speed Internet access. Investors want to see whether I-Cable can deliver the goods -- and as quickly as promised.
Like them, I`m reserving judgement on broadband in Hong Kong. The other day a marketer for HKT phoned with the good news that the company had finally wired our
apartment building for high-speed Net access. We could sign up again! But this time we`re in no rush. We`re waiting to see if the high-speed access really exists before
we take another chance on Broadband Barbie.
Einhorn is Asia technology correspondent for Business Week. His column appears every Monday for BW Online
EDITED BY PAUL JUDGE
10:23
PCCW`s (1186) share price plummeted triggered C&W HKT`s board concern
(Infocast News) PCCW`s (1186) share price plummeted continuously that is distant from C&W HKT`s (0008) share price gradually which clouds the
takeover. As quoted from HK Economic Times, PCCW`s volatile share price triggered C&W HKT`s board of directors` concern.
Market source stated that UK C&W agreed to dispose 54% stakes in C&W HKT to PCCW, theoretically, C&W HKT`s board of directors cannot hinder
PCCW`s takeover. However, if C&W HKT`s board objected to the takeover, PCCW will be difficult to get all stakes in C&W HKT`s stakes leading to
PCCW`s difficulties in using C&W HKT`s USD 2 billion cash to repay debts in takeover in future.
(15/03/00)
PCCW`s (1186) share price plummeted triggered C&W HKT`s board concern
(Infocast News) PCCW`s (1186) share price plummeted continuously that is distant from C&W HKT`s (0008) share price gradually which clouds the
takeover. As quoted from HK Economic Times, PCCW`s volatile share price triggered C&W HKT`s board of directors` concern.
Market source stated that UK C&W agreed to dispose 54% stakes in C&W HKT to PCCW, theoretically, C&W HKT`s board of directors cannot hinder
PCCW`s takeover. However, if C&W HKT`s board objected to the takeover, PCCW will be difficult to get all stakes in C&W HKT`s stakes leading to
PCCW`s difficulties in using C&W HKT`s USD 2 billion cash to repay debts in takeover in future.
(15/03/00)
17:03
PCCW firmly stood above $20 , avoid harm to merger plan
(Infocast News) Market rumours on worries of PCCW`s continued slumping share price will affect merger with C&W HKT (0008), therefore somebody sold PCCW
shares heavily at $20 level, PCCW`s share price fell to day`s low at $19.7 once today, then stood at above $20 for the whole day.
Market source pointed out that if PCCW`s share price becomes too low, majority of C&W HKT`s shareholders may opt cash plus shares as consideration of takeover
which will give high pressure to PCCW`s present financial situation.
PCCW ended up $0.1 or $0.49 to $20.6 each.
(15/03/00)
PCCW firmly stood above $20 , avoid harm to merger plan
(Infocast News) Market rumours on worries of PCCW`s continued slumping share price will affect merger with C&W HKT (0008), therefore somebody sold PCCW
shares heavily at $20 level, PCCW`s share price fell to day`s low at $19.7 once today, then stood at above $20 for the whole day.
Market source pointed out that if PCCW`s share price becomes too low, majority of C&W HKT`s shareholders may opt cash plus shares as consideration of takeover
which will give high pressure to PCCW`s present financial situation.
PCCW ended up $0.1 or $0.49 to $20.6 each.
(15/03/00)
Sag mir mal einer wo ich die Realtimekurse HK abrufen kann,
danke
danke
March 15, 2000 4:55am
ANALYSIS-Microsoft, MEASAT look to Asia
Reuters
By Azhar Sukri
KUALA LUMPUR, March 15 (Reuters) - A tie-up between software giant Microsoft Corp and Malaysian satellite television network MEASAT could form the basis of a
powerful regional partnership with the potential to gouge out significant market share.
Microsoft said late on Tuesday it had bought an undisclosed stake in privately owned MEASAT Broadcast Network Systems.
MEASAT has broadcast and Internet operations in Asia under the Astro brand, and is rumoured to be considering an initial public offering. Its satellite footprint covers
much of Asia stretching from Australia to India.
Analysts say the tie-up, while small compared to the recent acquisition by Pacific Century CyberWorks Ltd of Cable and Wireless HKT, will give Microsoft access to a
large potential audience for its interactive products via MEASAT`s footprint.
MEASAT AND PCCW COMPETE
``Microsoft and PCCW are competing for the same space, and MEASAT can provide Microsoft the delivery system they need,`` said Greg Feldberg, head of
convergence research at Indosuez W.I. Carr Securities.
MEASAT already broadcasts a wide variety of rich content including 28 television channels and 13 radio channels. A substantial portion of this programming is in
Chinese languages, Tamil and Malay.
MEASAT recently formed an alliance with businessman Run Run Shaw`s Television Broadcast Ltd, providing it with access to a huge collection of Chinese language
programming.
It has also started rolling out interactive services which users can access via set top decoders.
Combined with the power Microsoft`s expertise could bring to the table, analysts say the alliance has the potential to attract millions of subscribers around Asia. MEASAT
has just under 400,000 subscribers in Malaysia.
``If this deal goes according to plan, MEASAT could be on its way to becoming a serious contender in the region,`` a regional telecommunications analyst said.
By contrast, the broadband Internet service PCCW`s Pacific Convergence Corp unit is developing, to be beamed from satellites to cable television networks throughout
Asia, is months away from commercial launch.
DEAL FITS STRATEGY
The deal between Microsoft and MEASAT fits into the U.S. company`s broader strategy of linking up with firms with a proven delivery platform.
Microsoft recently signed a strategic partnership agreement with British Telecommunications Plc to provide it with mobile Internet applications.
BT owns 33 percent of mobile phone operator Maxis Communications Bhd, a sister company of MEASAT. Both MEASAT and Maxis are controlled by tycoon Ananda
Krishnan, a confidant of Malaysian Prime Minister Mahathir Mohamad.
``PCCW may not be quaking in their shoes over the MEASAT deal, but every new entrant in this market is going to make it that much harder for them to get market
share,`` the analyst said.
MEASAT has been rumoured to be looking to launch an initial public offering, possibly with a dual listing on Malaysia`s fledgling technology exchange Mesdaq and the
U.S. Nasdaq exchange.
This would give MEASAT the financial strength to develop and roll out more advanced services and richer content, potentially extending its appeal beyond its
competitors.
((Kuala Lumpur Newsroom +603 2275-6846, Fax +603 232-6752 kuala.lumpur.newsroom+reuters.com))
ANALYSIS-Microsoft, MEASAT look to Asia
Reuters
By Azhar Sukri
KUALA LUMPUR, March 15 (Reuters) - A tie-up between software giant Microsoft Corp and Malaysian satellite television network MEASAT could form the basis of a
powerful regional partnership with the potential to gouge out significant market share.
Microsoft said late on Tuesday it had bought an undisclosed stake in privately owned MEASAT Broadcast Network Systems.
MEASAT has broadcast and Internet operations in Asia under the Astro brand, and is rumoured to be considering an initial public offering. Its satellite footprint covers
much of Asia stretching from Australia to India.
Analysts say the tie-up, while small compared to the recent acquisition by Pacific Century CyberWorks Ltd of Cable and Wireless HKT, will give Microsoft access to a
large potential audience for its interactive products via MEASAT`s footprint.
MEASAT AND PCCW COMPETE
``Microsoft and PCCW are competing for the same space, and MEASAT can provide Microsoft the delivery system they need,`` said Greg Feldberg, head of
convergence research at Indosuez W.I. Carr Securities.
MEASAT already broadcasts a wide variety of rich content including 28 television channels and 13 radio channels. A substantial portion of this programming is in
Chinese languages, Tamil and Malay.
MEASAT recently formed an alliance with businessman Run Run Shaw`s Television Broadcast Ltd, providing it with access to a huge collection of Chinese language
programming.
It has also started rolling out interactive services which users can access via set top decoders.
Combined with the power Microsoft`s expertise could bring to the table, analysts say the alliance has the potential to attract millions of subscribers around Asia. MEASAT
has just under 400,000 subscribers in Malaysia.
``If this deal goes according to plan, MEASAT could be on its way to becoming a serious contender in the region,`` a regional telecommunications analyst said.
By contrast, the broadband Internet service PCCW`s Pacific Convergence Corp unit is developing, to be beamed from satellites to cable television networks throughout
Asia, is months away from commercial launch.
DEAL FITS STRATEGY
The deal between Microsoft and MEASAT fits into the U.S. company`s broader strategy of linking up with firms with a proven delivery platform.
Microsoft recently signed a strategic partnership agreement with British Telecommunications Plc to provide it with mobile Internet applications.
BT owns 33 percent of mobile phone operator Maxis Communications Bhd, a sister company of MEASAT. Both MEASAT and Maxis are controlled by tycoon Ananda
Krishnan, a confidant of Malaysian Prime Minister Mahathir Mohamad.
``PCCW may not be quaking in their shoes over the MEASAT deal, but every new entrant in this market is going to make it that much harder for them to get market
share,`` the analyst said.
MEASAT has been rumoured to be looking to launch an initial public offering, possibly with a dual listing on Malaysia`s fledgling technology exchange Mesdaq and the
U.S. Nasdaq exchange.
This would give MEASAT the financial strength to develop and roll out more advanced services and richer content, potentially extending its appeal beyond its
competitors.
((Kuala Lumpur Newsroom +603 2275-6846, Fax +603 232-6752 kuala.lumpur.newsroom+reuters.com))
an OJ not Simpson:
Realtimekurse Hongkong findest du unter:
www.infocastfn.com oder
www.e-finet.com
Happy Trading
Sunny
Realtimekurse Hongkong findest du unter:
www.infocastfn.com oder
www.e-finet.com
Happy Trading
Sunny
12:02 16-MAR-2000
PCCW <1186.HK> says ties with Softbank strong
HONG KONG, March 16 (Reuters) - A Pacific
Century CyberWorks Ltd (PCCW) executive said on
Thursday the company`s relationship with Japan`s
Softbank Corp <9984.T> remained strong despite
disparaging comments from a Softbank official last
week. Referring to Softbank`s president Masayoshi Son, PCCW managing director Alex
Arena said: "His relationship with us is as good as ever. He rang Mr (Richard) Li up
personally." Arena was speaking to reporters before a speech.
He said PCCW did not understand the comments by Softbank`s chief financial officer,
Yoshitaka Kitao, "but it doesn`t reflect the underlying strength in the relationship between the
companies concerned, so we`re very confident about doing good business with them in the
future." "We co-invested in many things with Softbank, we`ll continue to co-invest in many
things with Softbank." Kitao caused a stir last Friday when he told a news conference in
Hong Kong that Softbank and PCCW had differing philosophies and ruled out doing any
business with PCCW Executive Chairman Richard Li. Arena said News Corp`s decision to
form an alliance with renren.com Holdings Ltd would not change any plans for the joint
venture between News Corp and Cable & Wireless HKT <0008.HK>, which PCCW is
merging with. News Corp and renren.com announced on Wednesday a joint plan to develop
Internet content in Chinese.
News Corp`s unit Star TV, meanwhile, is in a joint venture with C&W HKT to provide
consumer broadband Internet and pay television services in Hong Kong. Arena said Internet
players were constantly forming alliances with various partners and trying new initiatives.
"In some markets you compete, in some markets you cooperate, that`s just the Internet,"
Arena said. PCCW won the battle to buy C&W HKT, which is 54 percent owned by
Britain`s Cable & Wireless Plc , with a US$35.9 billion cash-and-share deal, clinching Asia`s
biggest ever takeover.
PCCW <1186.HK> says ties with Softbank strong
HONG KONG, March 16 (Reuters) - A Pacific
Century CyberWorks Ltd (PCCW) executive said on
Thursday the company`s relationship with Japan`s
Softbank Corp <9984.T> remained strong despite
disparaging comments from a Softbank official last
week. Referring to Softbank`s president Masayoshi Son, PCCW managing director Alex
Arena said: "His relationship with us is as good as ever. He rang Mr (Richard) Li up
personally." Arena was speaking to reporters before a speech.
He said PCCW did not understand the comments by Softbank`s chief financial officer,
Yoshitaka Kitao, "but it doesn`t reflect the underlying strength in the relationship between the
companies concerned, so we`re very confident about doing good business with them in the
future." "We co-invested in many things with Softbank, we`ll continue to co-invest in many
things with Softbank." Kitao caused a stir last Friday when he told a news conference in
Hong Kong that Softbank and PCCW had differing philosophies and ruled out doing any
business with PCCW Executive Chairman Richard Li. Arena said News Corp`s decision to
form an alliance with renren.com Holdings Ltd would not change any plans for the joint
venture between News Corp and Cable & Wireless HKT <0008.HK>, which PCCW is
merging with. News Corp and renren.com announced on Wednesday a joint plan to develop
Internet content in Chinese.
News Corp`s unit Star TV, meanwhile, is in a joint venture with C&W HKT to provide
consumer broadband Internet and pay television services in Hong Kong. Arena said Internet
players were constantly forming alliances with various partners and trying new initiatives.
"In some markets you compete, in some markets you cooperate, that`s just the Internet,"
Arena said. PCCW won the battle to buy C&W HKT, which is 54 percent owned by
Britain`s Cable & Wireless Plc , with a US$35.9 billion cash-and-share deal, clinching Asia`s
biggest ever takeover.
12:20
PCCW (1186) subsidiary venture capital invests US$600M, profit up to US$1B
(Infocast News) Alexander Anthony Arena, Director of Pacific Century CyberWorks (1186)(PCCW), said that the company`s subsidiary venture capital has invested
US$600 million, including shares and cash, in 40 items for the time being. The profit of the company amounts to US$1 billion. The latest investment item is the
acquisition of 49% of an Indian internet services company.
Being asked about the transition of the managements in relation to the merger of PCCW and C&W HKT, he is very confident that the managements of both parties can
have good cooperation together. And he said that the fluctuation of the share price of the company will not influence the cooperation with C&W HKT, and good business
operation will prop up the share price.
At the same time, he said that the investment of The News Corp. into Ankor will not affect the relationship between PCCW and The News Corp. and both compnies will
still work in with each other well.
Being asked about the opinion that a Softbank officer reprimanded Richard Li does nothing but makes money, he said that it is just a trivial matter.
(16/03/00)
PCCW (1186) subsidiary venture capital invests US$600M, profit up to US$1B
(Infocast News) Alexander Anthony Arena, Director of Pacific Century CyberWorks (1186)(PCCW), said that the company`s subsidiary venture capital has invested
US$600 million, including shares and cash, in 40 items for the time being. The profit of the company amounts to US$1 billion. The latest investment item is the
acquisition of 49% of an Indian internet services company.
Being asked about the transition of the managements in relation to the merger of PCCW and C&W HKT, he is very confident that the managements of both parties can
have good cooperation together. And he said that the fluctuation of the share price of the company will not influence the cooperation with C&W HKT, and good business
operation will prop up the share price.
At the same time, he said that the investment of The News Corp. into Ankor will not affect the relationship between PCCW and The News Corp. and both compnies will
still work in with each other well.
Being asked about the opinion that a Softbank officer reprimanded Richard Li does nothing but makes money, he said that it is just a trivial matter.
(16/03/00)
12:16
PCCW (1186) confirmed disposal of City Telecom`s (1137) stakes
(Infocast News) Alexander A Arena, PCCW CEO, confirmed today that PCCW`s venture capital had disposed its all stakes in City Telecom (1137). Originally, PCCW
held less than 10% stakes in City Telecom.
Being asked whether Swire PPT`s Quarry Bay Commercial Campus, that provide intelligent building services, will compete with CyberPort for potential tennants in that
region, he believes that the said project will not affect CyberPort. He explained that types of intelligence buildings will be different. CyberPort`s concept is different from
these buidlings.
He declined to comment on whether PCCW will invest in a Taiwan mobile phone operator soon.
(16/03/00)
PCCW (1186) confirmed disposal of City Telecom`s (1137) stakes
(Infocast News) Alexander A Arena, PCCW CEO, confirmed today that PCCW`s venture capital had disposed its all stakes in City Telecom (1137). Originally, PCCW
held less than 10% stakes in City Telecom.
Being asked whether Swire PPT`s Quarry Bay Commercial Campus, that provide intelligent building services, will compete with CyberPort for potential tennants in that
region, he believes that the said project will not affect CyberPort. He explained that types of intelligence buildings will be different. CyberPort`s concept is different from
these buidlings.
He declined to comment on whether PCCW will invest in a Taiwan mobile phone operator soon.
(16/03/00)
09:37
Celestial Asia (1049) yearly result turnaround to earn $93 M
(Infocast News) Celestial Asia (1049) is back in the black announcing a profit of $93 million for the year of end-December 99. Over the period, turnover surged 30% to
$245 million, EPS was 3.3 ecnts, no fianl dividend will be paid.
(16/03/00)
Celestial Asia (1049) yearly result turnaround to earn $93 M
(Infocast News) Celestial Asia (1049) is back in the black announcing a profit of $93 million for the year of end-December 99. Over the period, turnover surged 30% to
$245 million, EPS was 3.3 ecnts, no fianl dividend will be paid.
(16/03/00)
CyberWorks Sees $1 Bln Paper Profit on Web Investing, SCMP Says
3/16/00 4:42:00 PM
Source: Bloomberg News
Hong Kong, March 17 (Bloomberg) -- Pacific Century CyberWorks Ltd., Asia`s third-largest Internet investment company, earned a $1 billion paper profit on investments in about a dozen listed Internet-related companies, the South China Morning Post reported, citing Alex Arena, the company`s managing director. The company spent $600 million in cash and shares to invest in more than 40 companies, about a quarter of which are now publicly traded. Arena said CyberWorks may consider selling what it describes as ``non- strategic investments`` when the market is doing well, without providing specifics
3/16/00 4:42:00 PM
Source: Bloomberg News
Hong Kong, March 17 (Bloomberg) -- Pacific Century CyberWorks Ltd., Asia`s third-largest Internet investment company, earned a $1 billion paper profit on investments in about a dozen listed Internet-related companies, the South China Morning Post reported, citing Alex Arena, the company`s managing director. The company spent $600 million in cash and shares to invest in more than 40 companies, about a quarter of which are now publicly traded. Arena said CyberWorks may consider selling what it describes as ``non- strategic investments`` when the market is doing well, without providing specifics
Freitag, 17. März 2000, 13:29 Uhr
AUSBLICK:Pacific Century CyberWorks Jahresverlust 1999 bei 46 Mio HKD erwartet
HONGKONG (dpa-AFX) - Die Hongkonger Internetholding Pacific Century CyberWorks wird nach Einschätzung von Analysten am kommenden Montag einen
Verlust von 46 Mio. HKD für das Geschäftsjahr 1999 bekannt geben. Die von AFX-Asia befragten Analysten zeigten sich sehr zurückhaltend bei der Abgabe von
Gewinnschätzungen.
Es gäbe kaum Anhaltspunkte, auf die sich eine Gewinnprognose stützen könnte, sagte ein Analyst eines europäischen Wertpapierhauses. "Alles was wir wissen ist,
dass Cyberworks Beteiligungen an Internetfirmen im Wert von mehr als 1,5 Mrd. USD hält und einige Immobilienanlagen in Hongkong und China hat."
Cyberworks sei derzeit in erster Linie von Visionen geprägt. Gelänge deren Umsetzung, entstünde eine "sehr, sehr erfolgreiche" Firma. Er glaube deshalb nicht,
dass die Zahlen bei den Anlegern die grundlegende Einschätzung der Aktie beeinflussen wird. "Dieses Unternehmen wurde im Markt etwas hochgeredet. Die
Firma hat ein hohes Ansehen und muss dies auch aufrecht erhalten."
"Man kann nur spekulieren, was Cyberworks am Montag vorlegt. Die Firma hat bisher keine nennenswerte Umsätze im Internetgeschäft. Cyberworks hat nur ein
paar Miteinnahmen und Anlagengewinne. Die Frage bleibt, ob diese Gewinne für 1999 oder 2000 verbucht werden."
Ein Internetunternehmen können nicht an Fundamentaldaten gemessen werden, sagte ein anderer Analyst. Es gäbe einfach keine. Es werde das Geschäftskonzept
der Firma und deren Fähigkeit zu Umsetzung bewertet. Die Schlüsselrolle nehme für Cyberworks das Projekt Pacific Century Convergence ein. Mit diesem
Projekt wolle die Firma zum führenden Breitband-Internetanbieter in Asien aufsteigen.
Paific Century Cyberworks habe ungefähr bis zur Jahresmitte Zeit, um erste Produkte vorzulegen. Andernfalls würden sich die Anleger von der Aktie abwenden.
"Es kommt eine Zeit, da wollen die Leute Ergebnisse sehen und keine Visionen mehr hören."
Ein weiterer Analyst prognostizierte einen Verlust von 46 Mio. HKD, der im wesentlichen aus den Anlaufkosten von Pacific Century Convergence stammen werde./cs/fs
AUSBLICK:Pacific Century CyberWorks Jahresverlust 1999 bei 46 Mio HKD erwartet
HONGKONG (dpa-AFX) - Die Hongkonger Internetholding Pacific Century CyberWorks wird nach Einschätzung von Analysten am kommenden Montag einen
Verlust von 46 Mio. HKD für das Geschäftsjahr 1999 bekannt geben. Die von AFX-Asia befragten Analysten zeigten sich sehr zurückhaltend bei der Abgabe von
Gewinnschätzungen.
Es gäbe kaum Anhaltspunkte, auf die sich eine Gewinnprognose stützen könnte, sagte ein Analyst eines europäischen Wertpapierhauses. "Alles was wir wissen ist,
dass Cyberworks Beteiligungen an Internetfirmen im Wert von mehr als 1,5 Mrd. USD hält und einige Immobilienanlagen in Hongkong und China hat."
Cyberworks sei derzeit in erster Linie von Visionen geprägt. Gelänge deren Umsetzung, entstünde eine "sehr, sehr erfolgreiche" Firma. Er glaube deshalb nicht,
dass die Zahlen bei den Anlegern die grundlegende Einschätzung der Aktie beeinflussen wird. "Dieses Unternehmen wurde im Markt etwas hochgeredet. Die
Firma hat ein hohes Ansehen und muss dies auch aufrecht erhalten."
"Man kann nur spekulieren, was Cyberworks am Montag vorlegt. Die Firma hat bisher keine nennenswerte Umsätze im Internetgeschäft. Cyberworks hat nur ein
paar Miteinnahmen und Anlagengewinne. Die Frage bleibt, ob diese Gewinne für 1999 oder 2000 verbucht werden."
Ein Internetunternehmen können nicht an Fundamentaldaten gemessen werden, sagte ein anderer Analyst. Es gäbe einfach keine. Es werde das Geschäftskonzept
der Firma und deren Fähigkeit zu Umsetzung bewertet. Die Schlüsselrolle nehme für Cyberworks das Projekt Pacific Century Convergence ein. Mit diesem
Projekt wolle die Firma zum führenden Breitband-Internetanbieter in Asien aufsteigen.
Paific Century Cyberworks habe ungefähr bis zur Jahresmitte Zeit, um erste Produkte vorzulegen. Andernfalls würden sich die Anleger von der Aktie abwenden.
"Es kommt eine Zeit, da wollen die Leute Ergebnisse sehen und keine Visionen mehr hören."
Ein weiterer Analyst prognostizierte einen Verlust von 46 Mio. HKD, der im wesentlichen aus den Anlaufkosten von Pacific Century Convergence stammen werde./cs/fs
11:45
PCCW`s (1186) share price slumped, C&W no intention to retreat
(Infocast News) As quoted from HK Economic Times, market source claimed that PCCW`s (1186) share price slumped recently, the company has notified the matter to
C&W, yet, C&W has no intention to retreat from the deal.
However, newspaper reported that SingTel has not totally pulled off from the competition for control over C&W HKT. SingTel has contacted C&W`s board to comment
on PCCW`s takeover proposal. C&W HKT`s board will convene meeting on 28 March to decide whether to accept PCCW`s proposal, since C&W related directors
cannot vote, therefore independent directors` decision become determinative.
(17/03/00)
PCCW`s (1186) share price slumped, C&W no intention to retreat
(Infocast News) As quoted from HK Economic Times, market source claimed that PCCW`s (1186) share price slumped recently, the company has notified the matter to
C&W, yet, C&W has no intention to retreat from the deal.
However, newspaper reported that SingTel has not totally pulled off from the competition for control over C&W HKT. SingTel has contacted C&W`s board to comment
on PCCW`s takeover proposal. C&W HKT`s board will convene meeting on 28 March to decide whether to accept PCCW`s proposal, since C&W related directors
cannot vote, therefore independent directors` decision become determinative.
(17/03/00)
Der CYBERPORT Link vom HK gov:
http://www.info.gov.hk/itbb/cyberport/
Lohnt sich da nicht die Investition?
http://www.info.gov.hk/itbb/cyberport/
Lohnt sich da nicht die Investition?
PCCW binge nets 40 high-tech deals
By Eunice Wong and Reuters
CAPTION: PCCW managing
director Alex Arena says he is not
so much concerned over
fluctuations in the group`s share
price, preferring to focus instead
on building good business.
STORY: PACIFIC Century
CyberWorks (PCCW) says it has
invested US$600 million (HK$4.68
billion), including shares and cash,
in 40 venture capital projects.
Group managing director Alex
Arena, speaking at the Hong Kong
Information Infrastructure Expo &
Conference yesterday, said the
valuation of the ventures was
US$1.6 billion, representing an
unrealised gain of US$1 billion.
The latest investment project is
the acquisition of a 49 per cent stake in Indian Internet service provider Data
Access for an undisclosed sum.
PCCW said Data Access was an Internet service provider in New Delhi and
had received approval in principle to construct and operate an international
Internet gateway from India.
Mr Arena said this week`s announcement of a partnership between News
Corp and Renren Media Holdings would not affect PCCW`s relationship with
News Corp and both companies would still work well with each other.
When asked whether the almost 10 per cent drop in PCCW`s share price
since the announcement of its acquisition with Cable & Wireless HKT would
affect the deal, Mr Arena said: ``I don`t think we should focus on the
day-to-day fluctuation in any share price. What we think is important is
building good business. Good business operations will prop up the share
price.
``The merger will not be affected by the decrease in PCCW`s share price.``
He said he was confident that the management of PCCW and HKT would
co-operate with each other during the transitional period of the merger.
Mr Arena said PCCW would submit its merger proposal to the board of HKT
within a few days and HKT would discuss the proposal on March 28.
He said PCCW and News Corp had been holding talks on the future of a
joint venture between Cable & Wireless HKT and Star TV but the
discussions were in the preliminary stage. Mr Arena said he was confident
that the discussions would produce a good result.
PCCW had disposed of all its stake in City Telecom, which had been less
than 10 per cent of the company, he said.
When asked whether the interconnected commercial campus of Swire
Properties was a competitor for PCCW`s CyberPort project, Mr Arena
replied: ``I believe the said project will not affect CyberPort. CyberPort is a
community concept, which is a different concept from Swire`s project.``
The kinds of intelligent buildings would be different, he said.
Swire Properties is building Hong Kong`s largest interconnected campus on
Island East on a scale claimed to be even bigger than PCCW chief Richard
Li Tzar-kai`s CyberPort project.
Mr Arena said PCCW`s relationship with Japan`s Softbank Corp remained
strong despite disparaging comments from a Softbank official last week.
Referring to Softbank`s president Masayoshi Son, Mr Arena said: ``His
relationship with us is as good as ever. He rang Mr Richard Li up
personally.``
He said PCCW did not understand last week`s comments by Softbank`s
chief financial officer, Yoshitaka Kitao, ``but it doesn`t reflect the underlying
strength in the relationship between the companies concerned, so we are
very confident about doing good business with them in the future``.
``We co-invested in many things with Softbank and we will continue to
co-invest in many things with Softbank.``
Also at the expo and conference yesterday, Song Ling, director general of
the Department of Informatisation Promotion in the mainland`s Ministry of
Information Industry, said there were no specific laws in China limiting
foreign investment in the Internet to less than 50 per cent stake.
``Regulations concerning the Internet are not yet set up in China as setting
up the rules is a long process,`` she said.
China has set up an office to promote information technology, particularly on
business-to-business development, she said.
Copyright(c) 2000 Hong Kong Standard Newspapers Ltd. All rights reserved.
Reproduction In Whole Or In Part Without Express Permission is Prohibited.
http://online.hkstandard.com/today/default.asp?PageType=bho1
By Eunice Wong and Reuters
CAPTION: PCCW managing
director Alex Arena says he is not
so much concerned over
fluctuations in the group`s share
price, preferring to focus instead
on building good business.
STORY: PACIFIC Century
CyberWorks (PCCW) says it has
invested US$600 million (HK$4.68
billion), including shares and cash,
in 40 venture capital projects.
Group managing director Alex
Arena, speaking at the Hong Kong
Information Infrastructure Expo &
Conference yesterday, said the
valuation of the ventures was
US$1.6 billion, representing an
unrealised gain of US$1 billion.
The latest investment project is
the acquisition of a 49 per cent stake in Indian Internet service provider Data
Access for an undisclosed sum.
PCCW said Data Access was an Internet service provider in New Delhi and
had received approval in principle to construct and operate an international
Internet gateway from India.
Mr Arena said this week`s announcement of a partnership between News
Corp and Renren Media Holdings would not affect PCCW`s relationship with
News Corp and both companies would still work well with each other.
When asked whether the almost 10 per cent drop in PCCW`s share price
since the announcement of its acquisition with Cable & Wireless HKT would
affect the deal, Mr Arena said: ``I don`t think we should focus on the
day-to-day fluctuation in any share price. What we think is important is
building good business. Good business operations will prop up the share
price.
``The merger will not be affected by the decrease in PCCW`s share price.``
He said he was confident that the management of PCCW and HKT would
co-operate with each other during the transitional period of the merger.
Mr Arena said PCCW would submit its merger proposal to the board of HKT
within a few days and HKT would discuss the proposal on March 28.
He said PCCW and News Corp had been holding talks on the future of a
joint venture between Cable & Wireless HKT and Star TV but the
discussions were in the preliminary stage. Mr Arena said he was confident
that the discussions would produce a good result.
PCCW had disposed of all its stake in City Telecom, which had been less
than 10 per cent of the company, he said.
When asked whether the interconnected commercial campus of Swire
Properties was a competitor for PCCW`s CyberPort project, Mr Arena
replied: ``I believe the said project will not affect CyberPort. CyberPort is a
community concept, which is a different concept from Swire`s project.``
The kinds of intelligent buildings would be different, he said.
Swire Properties is building Hong Kong`s largest interconnected campus on
Island East on a scale claimed to be even bigger than PCCW chief Richard
Li Tzar-kai`s CyberPort project.
Mr Arena said PCCW`s relationship with Japan`s Softbank Corp remained
strong despite disparaging comments from a Softbank official last week.
Referring to Softbank`s president Masayoshi Son, Mr Arena said: ``His
relationship with us is as good as ever. He rang Mr Richard Li up
personally.``
He said PCCW did not understand last week`s comments by Softbank`s
chief financial officer, Yoshitaka Kitao, ``but it doesn`t reflect the underlying
strength in the relationship between the companies concerned, so we are
very confident about doing good business with them in the future``.
``We co-invested in many things with Softbank and we will continue to
co-invest in many things with Softbank.``
Also at the expo and conference yesterday, Song Ling, director general of
the Department of Informatisation Promotion in the mainland`s Ministry of
Information Industry, said there were no specific laws in China limiting
foreign investment in the Internet to less than 50 per cent stake.
``Regulations concerning the Internet are not yet set up in China as setting
up the rules is a long process,`` she said.
China has set up an office to promote information technology, particularly on
business-to-business development, she said.
Copyright(c) 2000 Hong Kong Standard Newspapers Ltd. All rights reserved.
Reproduction In Whole Or In Part Without Express Permission is Prohibited.
http://online.hkstandard.com/today/default.asp?PageType=bho1
13:24 17-MAR-2000
PCCW <1186.HK> to clarify unrealised gains source
HONG KONG, March 17 (Reuters) - Pacific Century CyberWorks Ltd (PCCW) is expected to issue a statement clarifying that unrealised gains from its venture capital
investments would not be booked as profit in its accounts, a source close to the company said. Trading in shares of both PCCW and its Singapore parent Pacific
Century Regional Developments was suspended on Friday morning, pending a clarification statement regarding a press article appearing on Friday, the companies said
in separate statements.
The source said PCCW would clarify a report published in the South China Morning Post on Friday regarding investment gains from the company`s holdings in
Internet-related companies.
The newspaper said PCCW had booked an unrealised gain of US$1 billion on investments in about a dozen listed Internet-related companies, according to group
managing director Alex Arena. "It needed clarification because they used the word `booked`," the source said. PCCW has invested in 40 companies, some of which are
listed, and the unrealised gains merely reflect current market value but are "not on the books", the source added. The company has said it has invested about US$600
million in these companies and the market value of the investments was about US$1.6 billion.
PCCW shares closed on Thursday at HK$19.95, their lowest point since the company agreed to a merger with Cable & Wireless HKT Ltd <0008.HK> on February 29.
PCEN shares last traded at S$29.20, up 3.55 percent or S$1.00 on Friday
PCCW <1186.HK> to clarify unrealised gains source
HONG KONG, March 17 (Reuters) - Pacific Century CyberWorks Ltd (PCCW) is expected to issue a statement clarifying that unrealised gains from its venture capital
investments would not be booked as profit in its accounts, a source close to the company said. Trading in shares of both PCCW and its Singapore parent Pacific
Century Regional Developments was suspended on Friday morning, pending a clarification statement regarding a press article appearing on Friday, the companies said
in separate statements.
The source said PCCW would clarify a report published in the South China Morning Post on Friday regarding investment gains from the company`s holdings in
Internet-related companies.
The newspaper said PCCW had booked an unrealised gain of US$1 billion on investments in about a dozen listed Internet-related companies, according to group
managing director Alex Arena. "It needed clarification because they used the word `booked`," the source said. PCCW has invested in 40 companies, some of which are
listed, and the unrealised gains merely reflect current market value but are "not on the books", the source added. The company has said it has invested about US$600
million in these companies and the market value of the investments was about US$1.6 billion.
PCCW shares closed on Thursday at HK$19.95, their lowest point since the company agreed to a merger with Cable & Wireless HKT Ltd <0008.HK> on February 29.
PCEN shares last traded at S$29.20, up 3.55 percent or S$1.00 on Friday
PACIFIC CENTURY CYBERWORKS
Ist das nun ne GUTE oder ne SCHLECHTE Meldung?? Steigt der Kurs am Montag / Dienstag oder sollte man vielleicht ans aussteigen denken.....zumindest kurzfristig??
MEINUNGEN?!!!
Gruss
Ist das nun ne GUTE oder ne SCHLECHTE Meldung?? Steigt der Kurs am Montag / Dienstag oder sollte man vielleicht ans aussteigen denken.....zumindest kurzfristig??
MEINUNGEN?!!!
Gruss
vielleicht sollte man aussteigen und wenn der kurs in den nächsten tagen fällt wieder einsteigen
Also meines Erachtens ist das eher eine schlechte Nachricht.
Wenn ich das alles richtig verstanden habe, gibt es eine Diskrepanz über die Frage, ob nun $US 1 Milliarde Buchgewinne in der Montag vorzulegenden ´99er Bilanz als reale Gewinne auftauchen oder nicht.
Meines Wissens ist sowas nach hiesigem Recht nicht statthaft. Wie es in HongKong aussieht, keine Ahnung. Aber daß während der Klärung dieser Frage der Kurs ausgesetzt wird, deutet darauf hin, daß dies auch in HongKong nicht üblich ist.
Wie auch immer. Ich denke, aber dies ist pure Spekulation, daß die Zahlen nicht allzu berauschend ausfallen. Im Laufe des letzten Jahres hat PCCW hauptsächlich Akquisitionen getätigt, die zwar Buch- aber keine realen Gewinne abwerfen. Wobei Aktien natürlich auch als eine Art Währung angesehen werden können.
Reale Einkünfte werden bislang nicht viele fließen. Ob das Cyberport- Projekt bereits Gewinne abwirft weiß ich nicht. Allerdings sind bis auf dieses alle Projekte m.W. noch im Planungsstadium.
Die C&W-Geschichte dürfte eigentlich eh noch nicht in diesen Zahlen auftauchen. Das wäre auf jeden Fall zunächst mal ein Riesen-Minus.
Meine Spekulation: Montag gehts erstmal runter, wenn auch nur aus Unsicherheit. Abgesehen von der Frage was bei und nach den Wahlen morgen in Taiwan passiert.
Wenn dort nichts passiert, mache ich mir langfristig, auch ohne zur Zeit investiert zu sein keine Sorgen, die Perspektiven sind bei allen möglichen Anfangsverlusten schließlich großartig.
Korrekturen erwünscht.
Sorry Ataraxie, habe jetzt erst bemerkt, daß dies ja der Fakten-Thread ist. Kommt nicht wieder vor.
Grüße
Georgina
Wenn ich das alles richtig verstanden habe, gibt es eine Diskrepanz über die Frage, ob nun $US 1 Milliarde Buchgewinne in der Montag vorzulegenden ´99er Bilanz als reale Gewinne auftauchen oder nicht.
Meines Wissens ist sowas nach hiesigem Recht nicht statthaft. Wie es in HongKong aussieht, keine Ahnung. Aber daß während der Klärung dieser Frage der Kurs ausgesetzt wird, deutet darauf hin, daß dies auch in HongKong nicht üblich ist.
Wie auch immer. Ich denke, aber dies ist pure Spekulation, daß die Zahlen nicht allzu berauschend ausfallen. Im Laufe des letzten Jahres hat PCCW hauptsächlich Akquisitionen getätigt, die zwar Buch- aber keine realen Gewinne abwerfen. Wobei Aktien natürlich auch als eine Art Währung angesehen werden können.
Reale Einkünfte werden bislang nicht viele fließen. Ob das Cyberport- Projekt bereits Gewinne abwirft weiß ich nicht. Allerdings sind bis auf dieses alle Projekte m.W. noch im Planungsstadium.
Die C&W-Geschichte dürfte eigentlich eh noch nicht in diesen Zahlen auftauchen. Das wäre auf jeden Fall zunächst mal ein Riesen-Minus.
Meine Spekulation: Montag gehts erstmal runter, wenn auch nur aus Unsicherheit. Abgesehen von der Frage was bei und nach den Wahlen morgen in Taiwan passiert.
Wenn dort nichts passiert, mache ich mir langfristig, auch ohne zur Zeit investiert zu sein keine Sorgen, die Perspektiven sind bei allen möglichen Anfangsverlusten schließlich großartig.
Korrekturen erwünscht.
Sorry Ataraxie, habe jetzt erst bemerkt, daß dies ja der Fakten-Thread ist. Kommt nicht wieder vor.
Grüße
Georgina
Technology News
Fri, 17 Mar 2000, 3:45pm EST
CyberWorks Shares Suspended; Company to Clarify Report on Paper Profit
By Biddy Chan
(Adds that Pacific Century Regional is also suspended.)
Hong Kong, March 17 (Bloomberg) -- Pacific Century CyberWorks
Ltd., Asia`s third largest Internet investment company, asked that
its shares be suspended pending a statement to clarify press
reports on a $1 billion paper profit.
The Hong Kong-based Internet firm said in a statement to the
stock exchange that it will clarify a newspaper report today.
A CyberWorks spokeswoman said the South China Morning Post
had confused investors by reporting that CyberWorks had ``booked
an unrealized gain`` of $1 billion from its investments in listed
companies. Other local newspapers referred to it as a paper
profit. Any booking of profits is share price-sensitive,
especially since CyberWorks is scheduled to release its 1999
financial results on Monday.
CyberWorks` Singapore-listed parent company, Pacific Century
Regional Developments Ltd., also asked for a share suspension
effective from 10:50 a.m. local time. Pacific Century Regional
shares rose 3.5 percent to $29.20 before the suspension, having
traded up as high as 8.5 percent.
The South China Morning Post cited CyberWorks` managing
director Alex Arena as saying the company spent $600 million in
cash and shares to invest in more than 40 companies, about a
quarter of which are now publicly traded.
Arena also said CyberWorks may consider selling what it
describes as ``non-strategic investments`` when the market is
doing well, without providing specifics, the paper reported.
CyberWorks recently offered to buy control of Cable &
Wireless HKT Ltd., Hong Kong`s dominant phone company. HKT`s
directors are scheduled to meet on March 28 to discuss the
proposal.
CyberWorks shares lost 13 percent during the past week,
closing at HK$19.95 yesterday, amid a sell-off in Asian technology
stocks.
Fri, 17 Mar 2000, 3:45pm EST
CyberWorks Shares Suspended; Company to Clarify Report on Paper Profit
By Biddy Chan
(Adds that Pacific Century Regional is also suspended.)
Hong Kong, March 17 (Bloomberg) -- Pacific Century CyberWorks
Ltd., Asia`s third largest Internet investment company, asked that
its shares be suspended pending a statement to clarify press
reports on a $1 billion paper profit.
The Hong Kong-based Internet firm said in a statement to the
stock exchange that it will clarify a newspaper report today.
A CyberWorks spokeswoman said the South China Morning Post
had confused investors by reporting that CyberWorks had ``booked
an unrealized gain`` of $1 billion from its investments in listed
companies. Other local newspapers referred to it as a paper
profit. Any booking of profits is share price-sensitive,
especially since CyberWorks is scheduled to release its 1999
financial results on Monday.
CyberWorks` Singapore-listed parent company, Pacific Century
Regional Developments Ltd., also asked for a share suspension
effective from 10:50 a.m. local time. Pacific Century Regional
shares rose 3.5 percent to $29.20 before the suspension, having
traded up as high as 8.5 percent.
The South China Morning Post cited CyberWorks` managing
director Alex Arena as saying the company spent $600 million in
cash and shares to invest in more than 40 companies, about a
quarter of which are now publicly traded.
Arena also said CyberWorks may consider selling what it
describes as ``non-strategic investments`` when the market is
doing well, without providing specifics, the paper reported.
CyberWorks recently offered to buy control of Cable &
Wireless HKT Ltd., Hong Kong`s dominant phone company. HKT`s
directors are scheduled to meet on March 28 to discuss the
proposal.
CyberWorks shares lost 13 percent during the past week,
closing at HK$19.95 yesterday, amid a sell-off in Asian technology
stocks.
Interessant ist dieser Abschnitt, indem erwähnt wird, daß PCCW regionale shares vor der heutigen Kursaussetzung um 8,5 % auf 29 HK$ gstiegen waren. Es gibt also Anleger im Land der aufgehenden Sonne, die scheinen, oben mittlerweile mehrmals genannte Spekulationen über noch nicht vermerkte Buchungsgewinne zu glauben!
07:45 20-MAR-2000
PCCW <1186.HK> clarifies booking unrealised gains
HONG KONG, March 20 (Reuters) - Pacific
Century CyberWorks Ltd (PCCW) <1186.HK>
said on Monday it would only book US$73.8 million
gains from securities held for hedging transaction
purposes under the "Other Investments" account in
the 1999 results.
The Hong Kong-based Internet firm, due on
Monday to announce its final results ended December 31 1999, clarified a press report it
would not book unrealised gains from its venture capital investments as profit in its
accounts.
The South China Morning Post on Friday said PCCW had booked an unrealised gain of
US$1 billion on investment in about a dozen listed Internet-related companies, according to
group managing director Alex Arena. PCCW has been featured on International headlines
recently after winning a battle to merge with Cable & Wireless HKT <0008.HK> from
Britain`s Cable & Wireless Plc .
It has invested in over 40 companies, of which 14 such investments are in securities,
including its holding in CMGI Inc , SoftNet System Inc , Golden Power International
Holdings Ltd <0603.HK> and tom.com Ltd <8001.HK>.
The Internet company said the holdings in CMGI, SoftNet System, Golden Power and
tom.com were held for long-term strategic purposes and were clarified as "Investment
Securities" in its account.
It said the market value of the holdings in the four companies were at US$1.54 billion as at
March 16, compared with US$522.3 million in initial acquisition cost. Of the remaining
listed investments in the portfolio, their market value as at March 16 and acquisition cost
amounted to US$29.8 million and US$12.6 million respectively.
Of the US$73.8 million in gains under "Other Investments" account being booked, US$4.8
million was realised, while US$69 million was unrealised.
Trading in PCCW shares would resume on Monday after being suspended on Friday
morning.
PCCW shares closed on Thursday at HK$19.95, their lowest since the company agreed
to a merger with C&W HKT on February 29. Separately, PCCW said talks between its
chairman Richard Li and News Corp`s Rupert Murdoch on the future of the Star
TV-C&W HKT pay television joint venture had been held but no timetable had been
determined within which such dialogue must take place or within which any conclusion must
be reached.
The future of the C&W HKT-Star TV joint venture was thrown into doubt following Li`s
victory late last month in a takeover battle fo C&W HKT. Star TV is unit of News Corp. .
PCCW <1186.HK> clarifies booking unrealised gains
HONG KONG, March 20 (Reuters) - Pacific
Century CyberWorks Ltd (PCCW) <1186.HK>
said on Monday it would only book US$73.8 million
gains from securities held for hedging transaction
purposes under the "Other Investments" account in
the 1999 results.
The Hong Kong-based Internet firm, due on
Monday to announce its final results ended December 31 1999, clarified a press report it
would not book unrealised gains from its venture capital investments as profit in its
accounts.
The South China Morning Post on Friday said PCCW had booked an unrealised gain of
US$1 billion on investment in about a dozen listed Internet-related companies, according to
group managing director Alex Arena. PCCW has been featured on International headlines
recently after winning a battle to merge with Cable & Wireless HKT <0008.HK> from
Britain`s Cable & Wireless Plc .
It has invested in over 40 companies, of which 14 such investments are in securities,
including its holding in CMGI Inc , SoftNet System Inc , Golden Power International
Holdings Ltd <0603.HK> and tom.com Ltd <8001.HK>.
The Internet company said the holdings in CMGI, SoftNet System, Golden Power and
tom.com were held for long-term strategic purposes and were clarified as "Investment
Securities" in its account.
It said the market value of the holdings in the four companies were at US$1.54 billion as at
March 16, compared with US$522.3 million in initial acquisition cost. Of the remaining
listed investments in the portfolio, their market value as at March 16 and acquisition cost
amounted to US$29.8 million and US$12.6 million respectively.
Of the US$73.8 million in gains under "Other Investments" account being booked, US$4.8
million was realised, while US$69 million was unrealised.
Trading in PCCW shares would resume on Monday after being suspended on Friday
morning.
PCCW shares closed on Thursday at HK$19.95, their lowest since the company agreed
to a merger with C&W HKT on February 29. Separately, PCCW said talks between its
chairman Richard Li and News Corp`s Rupert Murdoch on the future of the Star
TV-C&W HKT pay television joint venture had been held but no timetable had been
determined within which such dialogue must take place or within which any conclusion must
be reached.
The future of the C&W HKT-Star TV joint venture was thrown into doubt following Li`s
victory late last month in a takeover battle fo C&W HKT. Star TV is unit of News Corp. .
Top News
Tue, 21 Mar 2000, 1:11am HKT
CyberWorks Seen Posting 1999 Net Income of $60 Million on One-Time Gains
By Biddy Chan
CyberWorks Seen Posting $60M Profit on One-Time Gains (Update2)
(Adds closing share price, rewrites first section.)
Hong Kong, March 20 (Bloomberg) -- Pacific Century CyberWorks
Ltd., Asia`s third-largest Internet investment company, said it
will book a $73.8 million gain from its investments for 1999,
lifting analyst estimates on its full-year results due to be
released later today.
CyberWorks was originally expected to post a net profit of
HK$24.2 million ($3.1 million) for 1999, according to the online
edition of the Estimate Directory, which polled four analysts
before the company released the statement on its one-time gain
today. Now, with the exceptional profit, CyberWorks could report a
net income of $60 million, analysts said.
The company, which last month offered to buy control of Cable
& Wireless HKT Ltd., the city`s dominant telephone operator,
posted a net loss of HK$40.7 million in the six months through
June. That reflected mainly the businesses it inherited from
unprofitable mobile handset distributor Tricom Holdings Ltd.,
which it took over last May.
``It`s the biggest Internet startup I have ever seen,`` said
Gregory Feldberg, an analyst with Indosuez W.I. Carr Securities in
Hong Kong, who has a ``buy`` recommendation on the stock. ``What
we are interested in is how the company is going to roll out its
network over the next 12 months. Its share price hasn`t been
moving with historical earnings.``
Though CyberWorks has yet to start its first Internet
service, its market value of $26 billion is already more than that
of Amazon.com Inc., which began business five years ago and now
runs the largest store on the Internet.
The profit CyberWorks is likely to post for 1999 will also
include interest earned on its cash hoard. The company sold shares
four times to institutional investors last year, raising gross
proceeds of about HK$7 billion.
The full-year results aren`t expected to be released until
about midnight local time.
Sell-off
Analysts expect CyberWorks to report more losses from its
core online operations over the next few years as it invests
heavily to build what it intends to be the world`s biggest
broadband Internet business. In the meantime, the company is
likely to derive most of its income from HKT, which posted a net
profit of HK$11.5 billion in the year ended March 1999.
While CyberWorks` shares lost 10 percent last week in a
global sell-off in technology shares, the stock is still up about
30-fold since Richard Li, the younger of the two sons of Hong Kong
tycoon Li Ka-shing, agreed to take the company over last year.
CyberWorks shares closed up 2.26 percent to HK$20.40.
Unlike many U.S. Internet companies, which attract investors
with their revenue and customer bases, CyberWorks has been
attracting a lot of interest partly because it`s one of the few
Asian Internet companies with a market value big enough to draw
attention, and partly because it`s embarked on a wave of asset
purchases.
To date, the company has spent $535 million in cash and
shares to buy stakes in more than 40 Internet companies, about a
quarter of which are now publicly traded. While technology stocks
globally have pared some of their gains recently, CyberWorks said
it still has a paper profit of $1 billion from those listed
investments.
Still, that won`t be enough to keep investor interest.
``This year will be a year of execution,`` said Juliette
Chow, an analyst with Lehman Brothers in Hong Kong. CyberWorks, as
well as other Internet start-ups, must prove to investors the
concepts they formulated in the past year will materialize, she
said.
CyberWorks seems prepared.
The company said it will start in the next three months an
Internet portal and a satellite broadcast television service,
upgrading both next year to enable two-way interactive activities.
Distribution
The company, having spent most of its energy so far on
developing content, has also moved to strengthen its distribution
channels.
In Hong Kong, CyberWorks` proposed purchase of Cable &
Wireless HKT will ensure its planned online products and services
will have way to be distributed. HKT owns a broadband fixed-line
network that covers 80 percent of Hong Kong households.
In China, whose Internet user numbers are expected to exceed
that of the U.S. by 2005, CyberWorks has teamed with Legend
Holdings Ltd., the nation`s No. 1 computer maker, to develop
computers that give users instant access to the CyberWorks
service.
In India, which is expected to become the second-biggest
Internet market in Asia after China, the company recently agreed
to buy 49 percent of Data Access India Pvt. Ltd., which owns a
license for a nationwide Internet service.
``The focus (on Internet companies) has changed,`` said Matei
Mihalca, an analyst with Merrill Lynch Asia. ``People don`t want
to take big bets. They want something that is more solid.``
http://www.bloomberg.com/asia/front_news4.html?s=e3414dc7d51…
Tue, 21 Mar 2000, 1:11am HKT
CyberWorks Seen Posting 1999 Net Income of $60 Million on One-Time Gains
By Biddy Chan
CyberWorks Seen Posting $60M Profit on One-Time Gains (Update2)
(Adds closing share price, rewrites first section.)
Hong Kong, March 20 (Bloomberg) -- Pacific Century CyberWorks
Ltd., Asia`s third-largest Internet investment company, said it
will book a $73.8 million gain from its investments for 1999,
lifting analyst estimates on its full-year results due to be
released later today.
CyberWorks was originally expected to post a net profit of
HK$24.2 million ($3.1 million) for 1999, according to the online
edition of the Estimate Directory, which polled four analysts
before the company released the statement on its one-time gain
today. Now, with the exceptional profit, CyberWorks could report a
net income of $60 million, analysts said.
The company, which last month offered to buy control of Cable
& Wireless HKT Ltd., the city`s dominant telephone operator,
posted a net loss of HK$40.7 million in the six months through
June. That reflected mainly the businesses it inherited from
unprofitable mobile handset distributor Tricom Holdings Ltd.,
which it took over last May.
``It`s the biggest Internet startup I have ever seen,`` said
Gregory Feldberg, an analyst with Indosuez W.I. Carr Securities in
Hong Kong, who has a ``buy`` recommendation on the stock. ``What
we are interested in is how the company is going to roll out its
network over the next 12 months. Its share price hasn`t been
moving with historical earnings.``
Though CyberWorks has yet to start its first Internet
service, its market value of $26 billion is already more than that
of Amazon.com Inc., which began business five years ago and now
runs the largest store on the Internet.
The profit CyberWorks is likely to post for 1999 will also
include interest earned on its cash hoard. The company sold shares
four times to institutional investors last year, raising gross
proceeds of about HK$7 billion.
The full-year results aren`t expected to be released until
about midnight local time.
Sell-off
Analysts expect CyberWorks to report more losses from its
core online operations over the next few years as it invests
heavily to build what it intends to be the world`s biggest
broadband Internet business. In the meantime, the company is
likely to derive most of its income from HKT, which posted a net
profit of HK$11.5 billion in the year ended March 1999.
While CyberWorks` shares lost 10 percent last week in a
global sell-off in technology shares, the stock is still up about
30-fold since Richard Li, the younger of the two sons of Hong Kong
tycoon Li Ka-shing, agreed to take the company over last year.
CyberWorks shares closed up 2.26 percent to HK$20.40.
Unlike many U.S. Internet companies, which attract investors
with their revenue and customer bases, CyberWorks has been
attracting a lot of interest partly because it`s one of the few
Asian Internet companies with a market value big enough to draw
attention, and partly because it`s embarked on a wave of asset
purchases.
To date, the company has spent $535 million in cash and
shares to buy stakes in more than 40 Internet companies, about a
quarter of which are now publicly traded. While technology stocks
globally have pared some of their gains recently, CyberWorks said
it still has a paper profit of $1 billion from those listed
investments.
Still, that won`t be enough to keep investor interest.
``This year will be a year of execution,`` said Juliette
Chow, an analyst with Lehman Brothers in Hong Kong. CyberWorks, as
well as other Internet start-ups, must prove to investors the
concepts they formulated in the past year will materialize, she
said.
CyberWorks seems prepared.
The company said it will start in the next three months an
Internet portal and a satellite broadcast television service,
upgrading both next year to enable two-way interactive activities.
Distribution
The company, having spent most of its energy so far on
developing content, has also moved to strengthen its distribution
channels.
In Hong Kong, CyberWorks` proposed purchase of Cable &
Wireless HKT will ensure its planned online products and services
will have way to be distributed. HKT owns a broadband fixed-line
network that covers 80 percent of Hong Kong households.
In China, whose Internet user numbers are expected to exceed
that of the U.S. by 2005, CyberWorks has teamed with Legend
Holdings Ltd., the nation`s No. 1 computer maker, to develop
computers that give users instant access to the CyberWorks
service.
In India, which is expected to become the second-biggest
Internet market in Asia after China, the company recently agreed
to buy 49 percent of Data Access India Pvt. Ltd., which owns a
license for a nationwide Internet service.
``The focus (on Internet companies) has changed,`` said Matei
Mihalca, an analyst with Merrill Lynch Asia. ``People don`t want
to take big bets. They want something that is more solid.``
http://www.bloomberg.com/asia/front_news4.html?s=e3414dc7d51…
Mansion House Research:
PCCW´s (1186) FY99 result preview:
We believe that PCCW will announce a multi-million net loss for FY99 and should remain in the red
in the coming two years as the Group will continue to incur massive capital expenditure to set up
its satellite-based broadband Internet services. Meanwhile, PCCW has made an unrealized gain of
about $8.11bn (US$1.04bn) from its investments in 14 listed securities with the investments in
CMGi, SoftNetSystems, Golden Power and tom.com making the bulk of the gains by last Friday.
However, the Group will treat the stakes in these four companies as long term strategic
investments and, according to its accounting policy, their gains will not be booked. Elsewhere,
PCCW would book $574.2mn (US$73.8mn) gains from its other investments for FY99.
http://www.mansionhse.com/Reports/Daily/daily000320.html
PCCW´s (1186) FY99 result preview:
We believe that PCCW will announce a multi-million net loss for FY99 and should remain in the red
in the coming two years as the Group will continue to incur massive capital expenditure to set up
its satellite-based broadband Internet services. Meanwhile, PCCW has made an unrealized gain of
about $8.11bn (US$1.04bn) from its investments in 14 listed securities with the investments in
CMGi, SoftNetSystems, Golden Power and tom.com making the bulk of the gains by last Friday.
However, the Group will treat the stakes in these four companies as long term strategic
investments and, according to its accounting policy, their gains will not be booked. Elsewhere,
PCCW would book $574.2mn (US$73.8mn) gains from its other investments for FY99.
http://www.mansionhse.com/Reports/Daily/daily000320.html
10:14
C&W underlined its support to the deal while PCCW`s share price falling
(Infocast News) PCCW`s (1186) share price slumped below $18.62 yesterday which is the reference price for acquisition. The share price closed down $0.4
to $18.75. As quoted from Sing Tao, Peter Wastace, spokesman of C&W, said that PCCW`s takeover of C&W HKT is not affected by PCCW`s share price
downturn. C&W still believes that PCCW`s acquisition proposal is good.
Spokesman of PCCW said that the merger with C&W HKT is undergoing smoothly, yet, it is uncertain that when the merger will be completed.
(23/03/00)
C&W underlined its support to the deal while PCCW`s share price falling
(Infocast News) PCCW`s (1186) share price slumped below $18.62 yesterday which is the reference price for acquisition. The share price closed down $0.4
to $18.75. As quoted from Sing Tao, Peter Wastace, spokesman of C&W, said that PCCW`s takeover of C&W HKT is not affected by PCCW`s share price
downturn. C&W still believes that PCCW`s acquisition proposal is good.
Spokesman of PCCW said that the merger with C&W HKT is undergoing smoothly, yet, it is uncertain that when the merger will be completed.
(23/03/00)
Goldman Sachs als "Daytrader":
17:46
Rumours on Goldman Sachs was bargain hunting for PCCW shares
(Infocast News) PCCW`s (1186) share price plunged down below $18.6 warning level to day`s low at $18.3, then rebound to close down 2.09% or $0.4 to $18.7 on
turnover of $1.43 billion. Market source claimed that Morgan Stanley and Goldman Sachs heavy sold PCCW shares embarking other retail investors to follow. Yet, big
investors such as Goldman Sachs was bargain hunting today and appeared keen competition for the shares. Therefore, it is likely that big investors is undergoing short
covering.
(22/03/00)
17:46
Rumours on Goldman Sachs was bargain hunting for PCCW shares
(Infocast News) PCCW`s (1186) share price plunged down below $18.6 warning level to day`s low at $18.3, then rebound to close down 2.09% or $0.4 to $18.7 on
turnover of $1.43 billion. Market source claimed that Morgan Stanley and Goldman Sachs heavy sold PCCW shares embarking other retail investors to follow. Yet, big
investors such as Goldman Sachs was bargain hunting today and appeared keen competition for the shares. Therefore, it is likely that big investors is undergoing short
covering.
(22/03/00)
19:10
CK-HWL[22]: Li Ka-shing not aware PRC leaders instruct PCCW to takeover C&W HKT
(Infocast News) Regarding newspaper reported that PCCW`s takeover of C&W HKT (0008) was instructed by PRC central government, Li Ka-shing, Chairman of
Cheung Kong , said that he does not aware of this and his younger son, Richard Li, had already denied the said rumour.
Francis Yuen, PCCW Deputy Chairman, said in an interview that SingTel launched the takeover bid for C&W HKT on 24 January, then BOC Int`l, China Telecom and
PCCW`s senior management held an emergency lunch meeting after a few days. Fang feng-lei, BOC Int`l Chief Executive, suggested PCCW to acquire C&W HKT.
The reports stated that Richard Li went to Beijing to persuade PRC leaders to approve PCCW`s takeover of C&W HKT in the beginning of February.
Previously, Richard Li denied that he went to Beijing in February to discuss on takeover of C&W HKT, only discussed on other business matters.
(23/03/00)
CK-HWL[22]: Li Ka-shing not aware PRC leaders instruct PCCW to takeover C&W HKT
(Infocast News) Regarding newspaper reported that PCCW`s takeover of C&W HKT (0008) was instructed by PRC central government, Li Ka-shing, Chairman of
Cheung Kong , said that he does not aware of this and his younger son, Richard Li, had already denied the said rumour.
Francis Yuen, PCCW Deputy Chairman, said in an interview that SingTel launched the takeover bid for C&W HKT on 24 January, then BOC Int`l, China Telecom and
PCCW`s senior management held an emergency lunch meeting after a few days. Fang feng-lei, BOC Int`l Chief Executive, suggested PCCW to acquire C&W HKT.
The reports stated that Richard Li went to Beijing to persuade PRC leaders to approve PCCW`s takeover of C&W HKT in the beginning of February.
Previously, Richard Li denied that he went to Beijing in February to discuss on takeover of C&W HKT, only discussed on other business matters.
(23/03/00)
Pacific Century Cyberworks Named `Buy` at ABN Amro
3/22/00 7:40:00 PM
Source: Bloomberg News
Hong Kong, March 23 (Bloomberg Data) -- Pacific Century Cyberworks (1186 HK) was named ``buy`` by analyst Jahanzeb Naseer at ABN Amro.
-- Samson Lew in Hong Kong, (852)2977-6515.
Mar/22/2000 22:40
http://www.cnetinvestor.com/newsitem-fd-bloomberg.asp?symbo…
3/22/00 7:40:00 PM
Source: Bloomberg News
Hong Kong, March 23 (Bloomberg Data) -- Pacific Century Cyberworks (1186 HK) was named ``buy`` by analyst Jahanzeb Naseer at ABN Amro.
-- Samson Lew in Hong Kong, (852)2977-6515.
Mar/22/2000 22:40
http://www.cnetinvestor.com/newsitem-fd-bloomberg.asp?symbo…
PCC Picks Oracle Software for Future Financial Solution
By Stefan Hammond
Editor, asia.internet.com
[March 22, 2000--HONG KONG] Pacific Convergence Corporation (PCC), a subsidiary of Pacific Century Cyberworks (PCCW) has chosen to implement Oracle
Financials and Logistics to support its expansion efforts in Asia.
PCC says that they will take advantage of the convergence of telecommunications, computing and broadcast technologies and operate a regional service that provides
integrated on-line content via a broadband platform.
"PCC has an aggressive business plan to provide leading broadband Internet services in Asia - covering more than 130 million households," said PCC chief executive
officer Hubert Ng. "With that kind of potential reach, we need a reliable financial technology solution with the scalability to support this rapid level of expansion."
Implementation of the Oracle system - a series of modular-based applications -- is underway and set to be completed in three months time. Oracle says their suite of
modules is designed to support PCC`s immediate and long-term business needs.
"PCC is a leading example of how companies in Asia are fast embracing the global shift to an Internet economy and building their enterprise systems accordingly,"
explained PW Pong, regional managing director of Oracle Greater China. "Oracle is committed to supplying the most reliable and scalable Internet-based solutions to
support the exponential growth of Internet-based businesses like PCC."
As well as the financial software, PCC has purchased Oracle`s Discoverer ad-hoc query and analysis tool, and will also participate in Oracle`s education program. The
latter is aimed at enabling the company to answer the continuous, Web-based training needs of e-business.
PCC says they plan to be the world`s leading provider of broadband Internet services, to be initially launched in Asia and serving 130 million cabled households.
PCC`s NOW (Network of the World) will offer the world`s first fully converged service with interactive digital video viewing and Web access beginning with the first phase
in 2000, says the firm.
http://asia.internet.com/2000/3/2205-pcc.html
By Stefan Hammond
Editor, asia.internet.com
[March 22, 2000--HONG KONG] Pacific Convergence Corporation (PCC), a subsidiary of Pacific Century Cyberworks (PCCW) has chosen to implement Oracle
Financials and Logistics to support its expansion efforts in Asia.
PCC says that they will take advantage of the convergence of telecommunications, computing and broadcast technologies and operate a regional service that provides
integrated on-line content via a broadband platform.
"PCC has an aggressive business plan to provide leading broadband Internet services in Asia - covering more than 130 million households," said PCC chief executive
officer Hubert Ng. "With that kind of potential reach, we need a reliable financial technology solution with the scalability to support this rapid level of expansion."
Implementation of the Oracle system - a series of modular-based applications -- is underway and set to be completed in three months time. Oracle says their suite of
modules is designed to support PCC`s immediate and long-term business needs.
"PCC is a leading example of how companies in Asia are fast embracing the global shift to an Internet economy and building their enterprise systems accordingly,"
explained PW Pong, regional managing director of Oracle Greater China. "Oracle is committed to supplying the most reliable and scalable Internet-based solutions to
support the exponential growth of Internet-based businesses like PCC."
As well as the financial software, PCC has purchased Oracle`s Discoverer ad-hoc query and analysis tool, and will also participate in Oracle`s education program. The
latter is aimed at enabling the company to answer the continuous, Web-based training needs of e-business.
PCC says they plan to be the world`s leading provider of broadband Internet services, to be initially launched in Asia and serving 130 million cabled households.
PCC`s NOW (Network of the World) will offer the world`s first fully converged service with interactive digital video viewing and Web access beginning with the first phase
in 2000, says the firm.
http://asia.internet.com/2000/3/2205-pcc.html
Hier zur Abwechslung mal ein deutschsprachiger Text!
23.03.2000
Pacific Century Cyberworks kaufen
Emerging Markets Investor
Die EMI-Experten empfehlen die Aktien der Pacific Century Cyberworks (WKN 924882) bei 2,60 Euro nachzukaufen.
Die Gesellschaft beschleunige seine bereits schnelle Gangart noch – die Aktie gönne sich dagegen eine Pause. Alle PCs, die von Legend Holdings (WKN 894983) für den chinesischen Markt produziert würden, sollten in Zukunft mit einem Kabelmodem ausgerüstet sein. Der aktuelle Kurs von PCCW sei eine absolute Kaufgelegenheit.
E-Commerce und Asien – das verspreche laut EMI eine ganz, ganz grosse Erfolgsstory zu werden. Er werde damit gerechnet, dass die Wachstumsraten in Asien über Jahre hinaus deutlich grösser sein würden, als in den USA. Nicht nur in der jetzigen Phase, da e-Commerce in Asien noch völlig in den Kinderschuhen stecke. Die Anzahl der e-Commerce-Anbieter hielten sich laut Boston Consulting Group in 1999 außer Japan mit 492 Mio. noch in bescheidenem Rahmen. In den meisten Ländern Asiens machten die wichtigsten 25 Online-Retailer fast zwei Drittel der gesamten Online-Umsätze. Die beliefen sich 1999 laut EMI auf insgesamt 2,8 Mrd. USD – die Zahlen sehen den Anlage-Spezialisten zufolge in Relation zu Europa mit 3,5 Mrd. USD gar nicht so schlecht aus. Die US-Amerikaner hätten 1999 bereits für 36,6 Mrd. USD online geordert.
In Asien werde bereits im Jahr 2000 mit Online-Umsätzen von 7 Mrd. USD gerechnet – das entspreche gegenüber dem Vorjahr einer Steigerung von weit über 100%. Bei der Schaffung der unentbehrlichen Vertriebskanäle in aller vorderster Reihe mit dabei sei dem Börseninformationsbrief zufolge Pacific Century Cyberworks.
23.03.2000
Pacific Century Cyberworks kaufen
Emerging Markets Investor
Die EMI-Experten empfehlen die Aktien der Pacific Century Cyberworks (WKN 924882) bei 2,60 Euro nachzukaufen.
Die Gesellschaft beschleunige seine bereits schnelle Gangart noch – die Aktie gönne sich dagegen eine Pause. Alle PCs, die von Legend Holdings (WKN 894983) für den chinesischen Markt produziert würden, sollten in Zukunft mit einem Kabelmodem ausgerüstet sein. Der aktuelle Kurs von PCCW sei eine absolute Kaufgelegenheit.
E-Commerce und Asien – das verspreche laut EMI eine ganz, ganz grosse Erfolgsstory zu werden. Er werde damit gerechnet, dass die Wachstumsraten in Asien über Jahre hinaus deutlich grösser sein würden, als in den USA. Nicht nur in der jetzigen Phase, da e-Commerce in Asien noch völlig in den Kinderschuhen stecke. Die Anzahl der e-Commerce-Anbieter hielten sich laut Boston Consulting Group in 1999 außer Japan mit 492 Mio. noch in bescheidenem Rahmen. In den meisten Ländern Asiens machten die wichtigsten 25 Online-Retailer fast zwei Drittel der gesamten Online-Umsätze. Die beliefen sich 1999 laut EMI auf insgesamt 2,8 Mrd. USD – die Zahlen sehen den Anlage-Spezialisten zufolge in Relation zu Europa mit 3,5 Mrd. USD gar nicht so schlecht aus. Die US-Amerikaner hätten 1999 bereits für 36,6 Mrd. USD online geordert.
In Asien werde bereits im Jahr 2000 mit Online-Umsätzen von 7 Mrd. USD gerechnet – das entspreche gegenüber dem Vorjahr einer Steigerung von weit über 100%. Bei der Schaffung der unentbehrlichen Vertriebskanäle in aller vorderster Reihe mit dabei sei dem Börseninformationsbrief zufolge Pacific Century Cyberworks.
City Telecom (CTI) is weighing a bid for a third generation (3G) mobile-phone service licence.
While keeping his options open, chairman Ricky Wong Wai-kay said he hoped the bidding would be fair.
Mr Wong was speaking at the unveiling of CTI`s alliance with North American communications giants 3Com, Cisco Systems, Hewlett-Packard and Nortel Networks. They will provide equipment for a high-speed Internet access service run by CTI unit Hong Kong Broadband Network.
He said he hoped the bidding for the 3G licences would bring in new operators to boost competition.
"We have said before we aimed to become a full-service telecommunications company like [Cable & Wireless HKT]. Now we have long-distance, Internet and fixed-network services, we are just lacking mobile service," he said.
However, CTI has yet to decide on a 3G bid.
"We are still studying the consultation paper, I can`t comment on the details as I haven`t had the time to read through it," he said.
The Office of the Telecommunications Authority plans to open bidding on four to six licences towards the end of the year.
Tony Cheung Tung-lan, a director at New T&T, said on Wednesday his company was interested in bidding for a licence and planned to invest more than $1 billion to build a mobile network.
Meanwhile, Mr Wong said CTI would respond by the end of the month to New T&T`s drastic cuts in rates on mainland-bound calls.
PS. City Telecom ist eine Beteiligung von PCCW
While keeping his options open, chairman Ricky Wong Wai-kay said he hoped the bidding would be fair.
Mr Wong was speaking at the unveiling of CTI`s alliance with North American communications giants 3Com, Cisco Systems, Hewlett-Packard and Nortel Networks. They will provide equipment for a high-speed Internet access service run by CTI unit Hong Kong Broadband Network.
He said he hoped the bidding for the 3G licences would bring in new operators to boost competition.
"We have said before we aimed to become a full-service telecommunications company like [Cable & Wireless HKT]. Now we have long-distance, Internet and fixed-network services, we are just lacking mobile service," he said.
However, CTI has yet to decide on a 3G bid.
"We are still studying the consultation paper, I can`t comment on the details as I haven`t had the time to read through it," he said.
The Office of the Telecommunications Authority plans to open bidding on four to six licences towards the end of the year.
Tony Cheung Tung-lan, a director at New T&T, said on Wednesday his company was interested in bidding for a licence and planned to invest more than $1 billion to build a mobile network.
Meanwhile, Mr Wong said CTI would respond by the end of the month to New T&T`s drastic cuts in rates on mainland-bound calls.
PS. City Telecom ist eine Beteiligung von PCCW
Hong Kong tycoon`s ambition is to build an internet empire
by Priscilla Cheung
The Associated Press
HONG KONG - A deal to buy Hong Kong`s top phone company made Richard Li famous, but the 33-year-old billionaire`s real ambition is to dominate the entire Internet food chain.
Li, the son of Hong Kong`s wealthiest man, Li Ka-shing, wants to make Pacific Century CyberWorks the main broadband Internet service provider in Asia, with an Internet portal and interactive television.
Li wants to use that network to dominate e-commerce, too.
"Ultimately, e-commerce will become the only way of doing business," the company`s managing director, Alex Arena, said.
The 10-month-old Pacific Century has yet to produce a product but has been on a shopping spree for parts to build its empire.
It has linked up with Asian cable-TV operators and helped upgrade their infrastructure, turning them into broadband Internet service providers.
The company has spent $700 million buying stakes in some 40 Internet companies. They include Chinese-language portals, e-commerce and stock-trading sites and online payment and delivery services. Returns from these investments gave it a better-than-expected profit of $44.5 million for 1999.
The company is "three steps ahead of the market," says Voon-san Lai, a telecom-industry analyst for Nomura International (HK).
Pacific Century`s stock price has nearly quadrupled since October, giving the upstart a market value of $26 billion.
The rapid growth of Li`s high-tech empire drew accusations of favoritism after he was awarded a deal to build Cyberport, a development touted as Hong Kong`s answer to Silicon Valley, in a process that included no rival bidders.
"Given its size and Richard Li`s clout and its management team, it seems (that) if anybody wants to do Internet-related deals in Asia, they will speak to PCCW," says David Soh, a telecom analyst at Daiwa Securities (HK).
Li already has formed a network of partnerships with Asian cable-television companies that is the foundation of his e-commerce ambitions. By July, Pacific Century plans to launch an Internet service and a TV network with entertainment, education, sports and weather programming.
The company plans to use that network to turn Asian TV sets into e-commerce outlets. Set-top cable-TV boxes will double as Internet gateways to sell banking and stock-trading services as well as merchandise.
Li already has experience in television.
Before he agreed in February to take over local-telephone giant Cable & Wireless HKT, beating out a bid from Singapore Telecommunications, he was best known for starting Star TV in 1990.
He built the satellite-based network`s subscription list to 53 million homes in 50 countries and sold it in 1993 for $950 million.
Analysts say television-based e-commerce could work well in Asia. The region has only 30 million Internet users outside Japan but 110 million cable-TV subscribers.
Pacific Century`s acquisition of Cable & Wireless HKT for around $35 million could give it a head start, analysts say. The phone company has 97 percent of Hong Kong`s fixed-line telecom market and its broadband Internet network covers 80 percent of homes.
But analysts say that home territory also harbors pitfalls for Li: $12 billion in debt from the Cable & Wireless HKT takeover, the loss of its local monopoly and the entry of nine new competitors into the broadband market.
by Priscilla Cheung
The Associated Press
HONG KONG - A deal to buy Hong Kong`s top phone company made Richard Li famous, but the 33-year-old billionaire`s real ambition is to dominate the entire Internet food chain.
Li, the son of Hong Kong`s wealthiest man, Li Ka-shing, wants to make Pacific Century CyberWorks the main broadband Internet service provider in Asia, with an Internet portal and interactive television.
Li wants to use that network to dominate e-commerce, too.
"Ultimately, e-commerce will become the only way of doing business," the company`s managing director, Alex Arena, said.
The 10-month-old Pacific Century has yet to produce a product but has been on a shopping spree for parts to build its empire.
It has linked up with Asian cable-TV operators and helped upgrade their infrastructure, turning them into broadband Internet service providers.
The company has spent $700 million buying stakes in some 40 Internet companies. They include Chinese-language portals, e-commerce and stock-trading sites and online payment and delivery services. Returns from these investments gave it a better-than-expected profit of $44.5 million for 1999.
The company is "three steps ahead of the market," says Voon-san Lai, a telecom-industry analyst for Nomura International (HK).
Pacific Century`s stock price has nearly quadrupled since October, giving the upstart a market value of $26 billion.
The rapid growth of Li`s high-tech empire drew accusations of favoritism after he was awarded a deal to build Cyberport, a development touted as Hong Kong`s answer to Silicon Valley, in a process that included no rival bidders.
"Given its size and Richard Li`s clout and its management team, it seems (that) if anybody wants to do Internet-related deals in Asia, they will speak to PCCW," says David Soh, a telecom analyst at Daiwa Securities (HK).
Li already has formed a network of partnerships with Asian cable-television companies that is the foundation of his e-commerce ambitions. By July, Pacific Century plans to launch an Internet service and a TV network with entertainment, education, sports and weather programming.
The company plans to use that network to turn Asian TV sets into e-commerce outlets. Set-top cable-TV boxes will double as Internet gateways to sell banking and stock-trading services as well as merchandise.
Li already has experience in television.
Before he agreed in February to take over local-telephone giant Cable & Wireless HKT, beating out a bid from Singapore Telecommunications, he was best known for starting Star TV in 1990.
He built the satellite-based network`s subscription list to 53 million homes in 50 countries and sold it in 1993 for $950 million.
Analysts say television-based e-commerce could work well in Asia. The region has only 30 million Internet users outside Japan but 110 million cable-TV subscribers.
Pacific Century`s acquisition of Cable & Wireless HKT for around $35 million could give it a head start, analysts say. The phone company has 97 percent of Hong Kong`s fixed-line telecom market and its broadband Internet network covers 80 percent of homes.
But analysts say that home territory also harbors pitfalls for Li: $12 billion in debt from the Cable & Wireless HKT takeover, the loss of its local monopoly and the entry of nine new competitors into the broadband market.
Digiscents Aims to Persuade Web Investors to -- Really -- Smell the Coffee
By Joshua Fellman and Alec D.B. McCabe
Digiscents Finds Asia a Place to -- Really -- Smell the Coffee
Hong Kong, March 27 (Bloomberg)
Digiscents Inc. has seen the future, and it smells.
Using iSmell, a device the size of a small toaster,
Digiscents promises to produce everything from the waft of freshly
baked chocolate cookies to percolating coffee over a personal
computer. It`s a high-technology version of Smell-O-Rama, a short-
lived 1950s movie gimmick.
And making the venture even more unique, the company`s thirty-
something founders didn`t just hit up the usual Silicon Valley
venture capitalists for funding -- they made Asia their first stop
outside the U.S.
In Hong Kong, they found an eager audience in Pacific Century
CyberWorks Ltd., the highflying Internet investment firm founded
by Richard Li, the son of Hong Kong tycoon Li Ka-shing.
``We`re looking for new content,`` said Alex Arena, managing
director at CyberWorks, which ended up agreeing to buy 12.5
percent of Digiscents for $10 million. ``Digiscents is a good
example.``
Asia is becoming a new source of capital for Internet start-
ups, making it easier for entrepreneurs like Digiscents` Joel
Bellenson and Dexster Smith, the company`s co-founders, to find
the money they need to develop new products.
Multinational companies are also using Hong Kong as a base
from which to invest in Asia`s flourishing Internet industry.
Internet Capital Group of the U.S. and Softbank Corp. and Hikari
Tsushin Inc. of Japan are among the half-dozen multinationals that
have bought Hong Kong-listed firms since January, with plans to
invest HK$3 billion ($376 million) in Internet startups in the
region.
Betting Big
Until Richard Li created CyberWorks, now the biggest Internet
firm in Asia outside Japan, in April 1999, the Internet had barely
touched Asian business, and there would have been few Internet
investors for Bellenson to convince.
Since then, Web fever has hit Asia, and especially Hong Kong.
Thousands queued to buy shares in the first public share sale of
tom.com Ltd., an Internet company with no revenue and its largest
asset a connection to Li Ka-shing, Hong Kong`s most famous
billionaire.
``It`s all a gigantic punt,`` said Simon Murray, a longtime
Li Ka-shing associate and former Deutsche Bank Asia chairman whose
$275 million investment fund last month bought control of Arnhold
Holdings Ltd., a 140-year old trading company, to invest in
information technology and telecommunications.
Asia`s Web frenzy made Digiscents` task easier when it came
to Hong Kong earlier this year to sound out potential investors.
Digiscents was featured in Wired magazine in November in a story
headlined, ``You`ve Got Smell.``
``People start off a little bit skeptical,`` said Bellenson,
35, at an upscale Hong Kong noodle shop one recent afternoon. ``We
do a demonstration and the skepticism melts.``
iSmell uses a computer code to combine oils into mixtures
that produce a recognizable smell. It can mix 100 to 200 scents to
create almost any odor, according to Digiscents, which is also
developing an operating system and chemical library to back up
iSmell.
Video Games
Bellenson expects Digiscents to generate most of its earnings
from licensing rather than device sales. It`s a business model
that proved successful for Real Networks Inc., which makes video
and sound software for the Internet. RealNetworks had net income
of $6.9 million last year, its first profit.
Advertisers are already interested, Bellenson said. So are
video game companies, which are often the first software producers
to take advantage of new computer technology.
Eidos Plc, the publishers of the Tomb Raider game series,
Acclaim Entertainment Inc., and Electronic Arts Ltd. have all
signed agreements with Digiscents and will use its system to
introduce smell to some of the personal computer versions of their
games. Filmmakers are also interested, Bellenson said.
To be sure, Digiscents isn`t making any money yet from the
150 agreements it`s signed with software developers. It hopes to
begin testing the iSmell with consumers later this spring, with a
commercial launch by Christmas.
``We`ll have some revenue by the end of this year, and we
don`t plan on losing money over a long period,`` Bellenson said.
Too Much?
Bellenson said distributing scent in a small space like a
home computer room will be far easier than in a movie theater.
Granted, not everyone is a believer. One problem could be
that scent would make computers appear too intimate -- the same
problem that has dogged home videophone technology.
Overkill could be another pitfall, said Neil Taylor, who
spends at least 16 hours a day surfing the Internet as an editor
at SCMP.com, the online edition of Hong Kong`s No. 1 English-
language newspaper.
``People who have a lot of pictures of Hello Kitty on their
personal Web pages would have sickly sweet smells turned up too
strong,`` he said. ``You`d have to turn the smell volume down.``
Digiscents ist ein PCCW investment.
By Joshua Fellman and Alec D.B. McCabe
Digiscents Finds Asia a Place to -- Really -- Smell the Coffee
Hong Kong, March 27 (Bloomberg)
Digiscents Inc. has seen the future, and it smells.
Using iSmell, a device the size of a small toaster,
Digiscents promises to produce everything from the waft of freshly
baked chocolate cookies to percolating coffee over a personal
computer. It`s a high-technology version of Smell-O-Rama, a short-
lived 1950s movie gimmick.
And making the venture even more unique, the company`s thirty-
something founders didn`t just hit up the usual Silicon Valley
venture capitalists for funding -- they made Asia their first stop
outside the U.S.
In Hong Kong, they found an eager audience in Pacific Century
CyberWorks Ltd., the highflying Internet investment firm founded
by Richard Li, the son of Hong Kong tycoon Li Ka-shing.
``We`re looking for new content,`` said Alex Arena, managing
director at CyberWorks, which ended up agreeing to buy 12.5
percent of Digiscents for $10 million. ``Digiscents is a good
example.``
Asia is becoming a new source of capital for Internet start-
ups, making it easier for entrepreneurs like Digiscents` Joel
Bellenson and Dexster Smith, the company`s co-founders, to find
the money they need to develop new products.
Multinational companies are also using Hong Kong as a base
from which to invest in Asia`s flourishing Internet industry.
Internet Capital Group of the U.S. and Softbank Corp. and Hikari
Tsushin Inc. of Japan are among the half-dozen multinationals that
have bought Hong Kong-listed firms since January, with plans to
invest HK$3 billion ($376 million) in Internet startups in the
region.
Betting Big
Until Richard Li created CyberWorks, now the biggest Internet
firm in Asia outside Japan, in April 1999, the Internet had barely
touched Asian business, and there would have been few Internet
investors for Bellenson to convince.
Since then, Web fever has hit Asia, and especially Hong Kong.
Thousands queued to buy shares in the first public share sale of
tom.com Ltd., an Internet company with no revenue and its largest
asset a connection to Li Ka-shing, Hong Kong`s most famous
billionaire.
``It`s all a gigantic punt,`` said Simon Murray, a longtime
Li Ka-shing associate and former Deutsche Bank Asia chairman whose
$275 million investment fund last month bought control of Arnhold
Holdings Ltd., a 140-year old trading company, to invest in
information technology and telecommunications.
Asia`s Web frenzy made Digiscents` task easier when it came
to Hong Kong earlier this year to sound out potential investors.
Digiscents was featured in Wired magazine in November in a story
headlined, ``You`ve Got Smell.``
``People start off a little bit skeptical,`` said Bellenson,
35, at an upscale Hong Kong noodle shop one recent afternoon. ``We
do a demonstration and the skepticism melts.``
iSmell uses a computer code to combine oils into mixtures
that produce a recognizable smell. It can mix 100 to 200 scents to
create almost any odor, according to Digiscents, which is also
developing an operating system and chemical library to back up
iSmell.
Video Games
Bellenson expects Digiscents to generate most of its earnings
from licensing rather than device sales. It`s a business model
that proved successful for Real Networks Inc., which makes video
and sound software for the Internet. RealNetworks had net income
of $6.9 million last year, its first profit.
Advertisers are already interested, Bellenson said. So are
video game companies, which are often the first software producers
to take advantage of new computer technology.
Eidos Plc, the publishers of the Tomb Raider game series,
Acclaim Entertainment Inc., and Electronic Arts Ltd. have all
signed agreements with Digiscents and will use its system to
introduce smell to some of the personal computer versions of their
games. Filmmakers are also interested, Bellenson said.
To be sure, Digiscents isn`t making any money yet from the
150 agreements it`s signed with software developers. It hopes to
begin testing the iSmell with consumers later this spring, with a
commercial launch by Christmas.
``We`ll have some revenue by the end of this year, and we
don`t plan on losing money over a long period,`` Bellenson said.
Too Much?
Bellenson said distributing scent in a small space like a
home computer room will be far easier than in a movie theater.
Granted, not everyone is a believer. One problem could be
that scent would make computers appear too intimate -- the same
problem that has dogged home videophone technology.
Overkill could be another pitfall, said Neil Taylor, who
spends at least 16 hours a day surfing the Internet as an editor
at SCMP.com, the online edition of Hong Kong`s No. 1 English-
language newspaper.
``People who have a lot of pictures of Hello Kitty on their
personal Web pages would have sickly sweet smells turned up too
strong,`` he said. ``You`d have to turn the smell volume down.``
Digiscents ist ein PCCW investment.
Saturday, March 25, 2000
TECHNOLOGY
Golden Power using Japanese formula
HUI YUK-MIN
--------------------------------------------------------------------------------
Golden Power International, the SAR-listing vehicle of Japan-based Hikari Tsushin, has unveiled plans to create an extensive Asian telecommunications and
information-technology distribution network.
The company`s new chairman and chief executive Masahide Saito said: "Our mobile phone and Internet distribution networks have been very successful in Japan.
"We want to bring this model to Hong Kong and other [countries in the] Asia region as well."
Golden Power, a troubled electronic components-maker, is to be renamed Hikari Tsushin International following its takeover by the Japanese firm and Pacific Century
CyberWorks.
The distribution networks would include retail shops as well as on-line distribution channels, Mr Saito said.
Hikari Tsushin would use the Hong Kong vehicle to invest in Internet companies across Asia.
No financial details were disclosed.
Yasumitsu Shigeta, president and chief executive of the Tokyo-listed parent, said Hikari Tsushin was in talks to form strategic partnerships with other leading Internet
investors.
Mr Shigeta and senior Hikari executives yesterday met CyberWorks chairman Richard Li Tzar-kai.
Mr Shigeta said the two would continue to discuss business co-operation opportunities related to CyberWorks` investment portfolio.
Hikari was also in talks with on-line securities trading portal CASH On-line and entertainment portal StarEast to jointly explore business opportunities in Japan and
outside Asia, Mr Saito said.
Shares in Golden Power were suspended from trading yesterday, pending announcement of the company`s business plan.
http://www.scmp.com/News/Business/Article/FullText_asp_Arti…
TECHNOLOGY
Golden Power using Japanese formula
HUI YUK-MIN
--------------------------------------------------------------------------------
Golden Power International, the SAR-listing vehicle of Japan-based Hikari Tsushin, has unveiled plans to create an extensive Asian telecommunications and
information-technology distribution network.
The company`s new chairman and chief executive Masahide Saito said: "Our mobile phone and Internet distribution networks have been very successful in Japan.
"We want to bring this model to Hong Kong and other [countries in the] Asia region as well."
Golden Power, a troubled electronic components-maker, is to be renamed Hikari Tsushin International following its takeover by the Japanese firm and Pacific Century
CyberWorks.
The distribution networks would include retail shops as well as on-line distribution channels, Mr Saito said.
Hikari Tsushin would use the Hong Kong vehicle to invest in Internet companies across Asia.
No financial details were disclosed.
Yasumitsu Shigeta, president and chief executive of the Tokyo-listed parent, said Hikari Tsushin was in talks to form strategic partnerships with other leading Internet
investors.
Mr Shigeta and senior Hikari executives yesterday met CyberWorks chairman Richard Li Tzar-kai.
Mr Shigeta said the two would continue to discuss business co-operation opportunities related to CyberWorks` investment portfolio.
Hikari was also in talks with on-line securities trading portal CASH On-line and entertainment portal StarEast to jointly explore business opportunities in Japan and
outside Asia, Mr Saito said.
Shares in Golden Power were suspended from trading yesterday, pending announcement of the company`s business plan.
http://www.scmp.com/News/Business/Article/FullText_asp_Arti…
19:03
Reuters will acquire iMerchants (8009) 6.25% & form strategic alliance
(Infocast News) iMerchants (8009) today announced that the company will form a strategic alliance with Reuters, the world`s leading financial information and
news provider and an internet content provider. Reuters has acquired 6.25%, representing 5% of the enlarged issued share capital, of iMerchants before
iMerchants gets listed.
Leory Kung, Chairman and Chief Executive of iMerchants, said that the company will continue its full support to the internet business of Reuters.
(28/03/00)
Reuters will acquire iMerchants (8009) 6.25% & form strategic alliance
(Infocast News) iMerchants (8009) today announced that the company will form a strategic alliance with Reuters, the world`s leading financial information and
news provider and an internet content provider. Reuters has acquired 6.25%, representing 5% of the enlarged issued share capital, of iMerchants before
iMerchants gets listed.
Leory Kung, Chairman and Chief Executive of iMerchants, said that the company will continue its full support to the internet business of Reuters.
(28/03/00)
PCCW ist mit 20% an Golden Power beteiligt.
11:50
Golden Power(0603) & strategic partners in talks on cooperation
(Infocast News) Golden Power (0603) ( soon-to-be renamed as Hikari Tsushin Int`l) announced today that the company is organizing subsidiary to develop serveral
Internet and mobile phone business in Asia except Japan. The company has started preliminary discussion with serveral intended strategic partners, if the investments
are confirmed that will involve USD 30 million (about $230 million).
The company`s change in name has been passed previously. It predicts that the company`s shares will be traded in the name of Hikari Tsushin Int`l on SEHK from
end-March.
(28/03/00)
11:50
Golden Power(0603) & strategic partners in talks on cooperation
(Infocast News) Golden Power (0603) ( soon-to-be renamed as Hikari Tsushin Int`l) announced today that the company is organizing subsidiary to develop serveral
Internet and mobile phone business in Asia except Japan. The company has started preliminary discussion with serveral intended strategic partners, if the investments
are confirmed that will involve USD 30 million (about $230 million).
The company`s change in name has been passed previously. It predicts that the company`s shares will be traded in the name of Hikari Tsushin Int`l on SEHK from
end-March.
(28/03/00)
28-MAR-2000
HK stocks seen pulling back, focus on C&W HKT-PCCW
HONG KONG, March 28 (Reuters) - Hong Kong stocks may pull back from Monday`s record close following a weaker performance on Wall Street, but all eyes will be on
Cable & Wireless HKT`s <0008.HK> board meeting to review PCCW`s <1186.HK> bid. "I`d expect a gentle pullback from yesterday," said Alan Hutcheson, head of
research at Pacific Challenge Securities "Yesterday`s strength was a surprise so I`d expect a pullback to 18,000." Hong Kong`s benchmark index <.HSI> surged 508
points to a record close of 18,350.61 on Monday, fuelled by futures expiring on Thursday and some "window-dressing" by investors, analysts said. After a strong
performance last week, U.S. stocks ended lower on Monday as investors cashed in profit, with the Dow Jones industrial average <.DJI> down 0.78 percent to 11,025.85
and the Nasdaq Composite index <.IXIC> barely changed, down 0.09 percent to 4,958.56.
"There`s still some momentum in the market in particular for traditional stocks such as banks and property," said Adrian Ngan, head of Hong Kong research at BNP
Prime Peregrine.
"Hutchison and Cheung Kong are the key to whether the market will go up," he said. The index is likely to move in the range of 18,000 to 18,500 on Tuesday, Ngan said.
HK stocks seen pulling back, focus on C&W HKT-PCCW
HONG KONG, March 28 (Reuters) - Hong Kong stocks may pull back from Monday`s record close following a weaker performance on Wall Street, but all eyes will be on
Cable & Wireless HKT`s <0008.HK> board meeting to review PCCW`s <1186.HK> bid. "I`d expect a gentle pullback from yesterday," said Alan Hutcheson, head of
research at Pacific Challenge Securities "Yesterday`s strength was a surprise so I`d expect a pullback to 18,000." Hong Kong`s benchmark index <.HSI> surged 508
points to a record close of 18,350.61 on Monday, fuelled by futures expiring on Thursday and some "window-dressing" by investors, analysts said. After a strong
performance last week, U.S. stocks ended lower on Monday as investors cashed in profit, with the Dow Jones industrial average <.DJI> down 0.78 percent to 11,025.85
and the Nasdaq Composite index <.IXIC> barely changed, down 0.09 percent to 4,958.56.
"There`s still some momentum in the market in particular for traditional stocks such as banks and property," said Adrian Ngan, head of Hong Kong research at BNP
Prime Peregrine.
"Hutchison and Cheung Kong are the key to whether the market will go up," he said. The index is likely to move in the range of 18,000 to 18,500 on Tuesday, Ngan said.
PCCW investment Outblaze shows traffic growth
Outblaze adopted PriceWaterHouseCoopers` pageview auditor service in advance
(Infocast News) Outblaze announced today that the company adopted PriceWaterHouseCoopers`s pageviews auditor services in HK in advance. According to audit
result between 15 Jan to 15 Feb, the website`s pageviews were 7 million in average per day, users exceeded 3.9 million. According to today`s figure, pageviews were
more than 8 million, users exceeded 4.6 million.
(28/03/00)
Outblaze adopted PriceWaterHouseCoopers` pageview auditor service in advance
(Infocast News) Outblaze announced today that the company adopted PriceWaterHouseCoopers`s pageviews auditor services in HK in advance. According to audit
result between 15 Jan to 15 Feb, the website`s pageviews were 7 million in average per day, users exceeded 3.9 million. According to today`s figure, pageviews were
more than 8 million, users exceeded 4.6 million.
(28/03/00)
28/03 15:11
UPDATE 1
C&W HKT sees good progress in PCCW talks
(Adds more details throughout)
LONDON, March 28 (Reuters) - Cable & Wireless HKT said on Tuesday it was making good progress in its merger discussions with Pacific Century CyberWorks Ltd
and had agreed steps to ease the takeover.
Hong Kong`s dominant telecoms company said it accepted
PCCW`s request to put the offer to shareholders via a scheme of arrangement, a common takeover procedure that requires a lower level of shareholder acceptances.
Cable & Wireless Plc has agreed to sell its 54 percent stake in C&W HKT to Internet start-up PCCW, which is offering $35.9 billion for the entire company. C&W
expects the deal to complete by the British summer.
C&W HKT said in a statement it reviewed progress on the deal at a board meeting on Tuesday and formed a committee of independent directors to consider the offer.
It will include the views of the board and the committee in a scheme of arrangement document which it will post to shareholders on or before May 18.
"The board of directors of C&W HKT is satisfied with the progress of discussions with PCCW on the proposed offer and it has therefore agreed to PCCW`s request to
put the offer to shareholders by way of a scheme of arrangement proposed by C&W HKT," it said in a statement.
((Richard Baum, London newsroom, +44 20 7542 3214, richard.b.baum§reuters.com))
UPDATE 1
C&W HKT sees good progress in PCCW talks
(Adds more details throughout)
LONDON, March 28 (Reuters) - Cable & Wireless HKT said on Tuesday it was making good progress in its merger discussions with Pacific Century CyberWorks Ltd
and had agreed steps to ease the takeover.
Hong Kong`s dominant telecoms company said it accepted
PCCW`s request to put the offer to shareholders via a scheme of arrangement, a common takeover procedure that requires a lower level of shareholder acceptances.
Cable & Wireless Plc has agreed to sell its 54 percent stake in C&W HKT to Internet start-up PCCW, which is offering $35.9 billion for the entire company. C&W
expects the deal to complete by the British summer.
C&W HKT said in a statement it reviewed progress on the deal at a board meeting on Tuesday and formed a committee of independent directors to consider the offer.
It will include the views of the board and the committee in a scheme of arrangement document which it will post to shareholders on or before May 18.
"The board of directors of C&W HKT is satisfied with the progress of discussions with PCCW on the proposed offer and it has therefore agreed to PCCW`s request to
put the offer to shareholders by way of a scheme of arrangement proposed by C&W HKT," it said in a statement.
((Richard Baum, London newsroom, +44 20 7542 3214, richard.b.baum§reuters.com))
10:57 29-MAR-2000
PCCW , C&W HKT sink after board decision
HONG KONG, March 29 (Reuters) - Shares in Pacific Century CyberWorks and Cable & Wireless HKT fell sharply on Wednesday morning as investors cashed in
gains a day after C&W HKT`s decision to put PCCW`s offer to shareholders.
PCCW was down about 3.0 percent or HK$0.60 at HK$19.35 by 1054 local time (0254) while merger partner C&W HKT was down 2.76 percent or HK$0.40 at
HK$21.35.
Analysts said the stocks weakness was due in part to profit-taking on gains in the lead-up to the news on Monday that C&W HKT had accepted the Internet upstart`s
request to put its US$35.9 billion merger offer to the telecom provider`s shareholders.
"This means PCCW now has no barriers in taking over C&W HKT," said David Williamson, sales director at Century City Securities.
"People are selling now that the fact is out there," he added. On Wednesday, Richard Li`s PCCW issued a statement to the Stock Exchange of Hong Kong, welcoming
the decision by C&W HKT`s board of directors.
PCCW , C&W HKT sink after board decision
HONG KONG, March 29 (Reuters) - Shares in Pacific Century CyberWorks and Cable & Wireless HKT fell sharply on Wednesday morning as investors cashed in
gains a day after C&W HKT`s decision to put PCCW`s offer to shareholders.
PCCW was down about 3.0 percent or HK$0.60 at HK$19.35 by 1054 local time (0254) while merger partner C&W HKT was down 2.76 percent or HK$0.40 at
HK$21.35.
Analysts said the stocks weakness was due in part to profit-taking on gains in the lead-up to the news on Monday that C&W HKT had accepted the Internet upstart`s
request to put its US$35.9 billion merger offer to the telecom provider`s shareholders.
"This means PCCW now has no barriers in taking over C&W HKT," said David Williamson, sales director at Century City Securities.
"People are selling now that the fact is out there," he added. On Wednesday, Richard Li`s PCCW issued a statement to the Stock Exchange of Hong Kong, welcoming
the decision by C&W HKT`s board of directors.
Wednesday, March 29, 2000
HKT board backs CyberWorks merger
BEN KWOK
Cable & Wireless HKT`s board has agreed to
recommend to shareholders a HK$296.41 billion
merger proposal by Pacific Century CyberWorks,
ending weeks of speculation about the bid`s prospects.
"I am very pleased the process is concluded and the
board showed approval," HKT chief executive Linus
Cheung Wing-lam said.
"We have a working relationship for the future."
The share prices of HKT and CyberWorks have
dropped substantially since the merger plan, Asia`s
biggest, was announced on February 29.
Analysts were worried the merger would unravel when
on March 16, CyberWorks` share price fell below $20,
about 9 per cent lower than it was at the time the
merger plan was announced.
Yesterday, CyberWorks fell 2.44 per cent to $19.95.
HKT dropped 2.46 per cent to close at $21.75, a 16
per cent fall from its pre-offer level.
Analysts said a lower CyberWorks share price would
make the company`s offer for HKT less attractive to the
telephone operator`s shareholders.
Nonetheless, all 16 HKT board members yesterday
approved CyberWorks` proposal.
"I`m very happy with the board`s decision today,"
CyberWorks chairman Richard Li Tzar-kai said.
The board yesterday formed a two-member committee
of independent directors to consider the offer.
The committee is to be advised by ING Barings Asia.
Committee members are HKT deputy chairman David
Li Kwok-po and executive director Dr Chung
Sze-yuen.
Three non-executive directors - Sir Brian Smith, Trade
Development Council head Victor Fung Kwok-king
and China Telecom`s Li Ping - could not be appointed
to the committee because "they were considered not
independent for the purpose of the Takeovers Code",
HKT said.
Under CyberWorks` proposal, HKT shareholders can
swap each of their shares for 1.1 CyberWorks shares.
They may choose to receive 0.7116 CyberWorks
shares for each HKT share, plus HK$7.23 in cash.
The position of the board and the independent
committee on the CyberWorks offer would be posted
to shareholders on or before May 18, the company
said.
HKT board backs CyberWorks merger
BEN KWOK
Cable & Wireless HKT`s board has agreed to
recommend to shareholders a HK$296.41 billion
merger proposal by Pacific Century CyberWorks,
ending weeks of speculation about the bid`s prospects.
"I am very pleased the process is concluded and the
board showed approval," HKT chief executive Linus
Cheung Wing-lam said.
"We have a working relationship for the future."
The share prices of HKT and CyberWorks have
dropped substantially since the merger plan, Asia`s
biggest, was announced on February 29.
Analysts were worried the merger would unravel when
on March 16, CyberWorks` share price fell below $20,
about 9 per cent lower than it was at the time the
merger plan was announced.
Yesterday, CyberWorks fell 2.44 per cent to $19.95.
HKT dropped 2.46 per cent to close at $21.75, a 16
per cent fall from its pre-offer level.
Analysts said a lower CyberWorks share price would
make the company`s offer for HKT less attractive to the
telephone operator`s shareholders.
Nonetheless, all 16 HKT board members yesterday
approved CyberWorks` proposal.
"I`m very happy with the board`s decision today,"
CyberWorks chairman Richard Li Tzar-kai said.
The board yesterday formed a two-member committee
of independent directors to consider the offer.
The committee is to be advised by ING Barings Asia.
Committee members are HKT deputy chairman David
Li Kwok-po and executive director Dr Chung
Sze-yuen.
Three non-executive directors - Sir Brian Smith, Trade
Development Council head Victor Fung Kwok-king
and China Telecom`s Li Ping - could not be appointed
to the committee because "they were considered not
independent for the purpose of the Takeovers Code",
HKT said.
Under CyberWorks` proposal, HKT shareholders can
swap each of their shares for 1.1 CyberWorks shares.
They may choose to receive 0.7116 CyberWorks
shares for each HKT share, plus HK$7.23 in cash.
The position of the board and the independent
committee on the CyberWorks offer would be posted
to shareholders on or before May 18, the company
said.
CyberWorks Buying 5% Stake in Rediff.com, Indian Web Site
3/29/00 2:12:00 AM
Source: Bloomberg News
New Delhi, March 29 (Bloomberg) -- Pacific Century CyberWorks Ltd., Asia`s third-largest Internet investment company, said it will buy a 5 percent stake in Rediffusion
Communication Ltd., which runs India`s first information and shopping Web site.
Hong Kong-based CyberWorks declined to provide details of the purchase, including the price it paid. Intel Corp. and venture capitalists Warburg Pincus & Co and
Draper International already own a combined 39 percent stake of Rediff.com, which is planning to list its shares on the Nasdaq exchange.
``Rediff has good content development expertise and a leadership position in the Indian Internet market,`` said Joan Wagner, a spokeswoman for CyberWorks in Hong
Kong. ``That makes it a good investment fit for us.``
Rediff.com is the third investment by CyberWorks in India.
The Hong Kong company recently took a 49 percent stake in Data Access India Pvt. Ltd., which owns a license to provide a nationwide Internet service, for $19.6 million.
It also owns a less than 5 percent stake in another Indian Internet service provider known as Satyam Infoway.
India has 2.6 million Internet subscribers. This is expected to expand 11-fold to 30 million by 2004, second only to China, according to a report by Credit Lyonnais
Securities Asia.
3/29/00 2:12:00 AM
Source: Bloomberg News
New Delhi, March 29 (Bloomberg) -- Pacific Century CyberWorks Ltd., Asia`s third-largest Internet investment company, said it will buy a 5 percent stake in Rediffusion
Communication Ltd., which runs India`s first information and shopping Web site.
Hong Kong-based CyberWorks declined to provide details of the purchase, including the price it paid. Intel Corp. and venture capitalists Warburg Pincus & Co and
Draper International already own a combined 39 percent stake of Rediff.com, which is planning to list its shares on the Nasdaq exchange.
``Rediff has good content development expertise and a leadership position in the Indian Internet market,`` said Joan Wagner, a spokeswoman for CyberWorks in Hong
Kong. ``That makes it a good investment fit for us.``
Rediff.com is the third investment by CyberWorks in India.
The Hong Kong company recently took a 49 percent stake in Data Access India Pvt. Ltd., which owns a license to provide a nationwide Internet service, for $19.6 million.
It also owns a less than 5 percent stake in another Indian Internet service provider known as Satyam Infoway.
India has 2.6 million Internet subscribers. This is expected to expand 11-fold to 30 million by 2004, second only to China, according to a report by Credit Lyonnais
Securities Asia.
Community,
heute mal was in deutsch
Philweb bestätigt Joint-Venture-Gespräche mit Pacific Century Cyberworks
MANILA (dpa-AFX) - Philweb.Com Inc hat Gerüchte bestätigt, nach denen die Firma mit der
Hongkonger Internetholding Pacific Century Cyberworks Ltd TH3.MUN TH3.FSE über die
Gründung eines Gemeinschaftsunternehmens spricht. "Wir haben mit Pacific Century Cyberworks
Gespräch über gemeinsame Beteiligungen an philippinischen Betreibern von TV-Kabelnetzen
verhandelt," sagte ein Firmensprecher AFX-Asia am Donnerstag. "Wir führen diese Gespräche aber
auch mit anderen potenziellen Geschäftspartnern." Bisher sei es zu keinem Verhandlungsergebnis mit
Pacific Century Cyberworks oder anderen Firmen gekommen.
Philweb war zuvor vom Handel ausgesetzt worden, nachdem die Tageszeitung "Inquirer" den
Philweb-Vorstandsvorsitzenden Alex Villamar mit den Worten zitiert hatte, Philweb wolle sich
gemeinsam mit Cyberworks an philippinischen TV-Kabelbetreibern beteiligen./cs/ro
Quelle: dpa - AFX -Alle Angaben ohne Gewähr-
Quelle: Teledata Börsen-Informations-GmbH, Standard&Poor`s ComStock Inc. und weitere.
Die hier angegebenen Kurse sind um mindestens 15 Minuten verzögert.
heute mal was in deutsch
Philweb bestätigt Joint-Venture-Gespräche mit Pacific Century Cyberworks
MANILA (dpa-AFX) - Philweb.Com Inc hat Gerüchte bestätigt, nach denen die Firma mit der
Hongkonger Internetholding Pacific Century Cyberworks Ltd TH3.MUN TH3.FSE über die
Gründung eines Gemeinschaftsunternehmens spricht. "Wir haben mit Pacific Century Cyberworks
Gespräch über gemeinsame Beteiligungen an philippinischen Betreibern von TV-Kabelnetzen
verhandelt," sagte ein Firmensprecher AFX-Asia am Donnerstag. "Wir führen diese Gespräche aber
auch mit anderen potenziellen Geschäftspartnern." Bisher sei es zu keinem Verhandlungsergebnis mit
Pacific Century Cyberworks oder anderen Firmen gekommen.
Philweb war zuvor vom Handel ausgesetzt worden, nachdem die Tageszeitung "Inquirer" den
Philweb-Vorstandsvorsitzenden Alex Villamar mit den Worten zitiert hatte, Philweb wolle sich
gemeinsam mit Cyberworks an philippinischen TV-Kabelbetreibern beteiligen./cs/ro
Quelle: dpa - AFX -Alle Angaben ohne Gewähr-
Quelle: Teledata Börsen-Informations-GmbH, Standard&Poor`s ComStock Inc. und weitere.
Die hier angegebenen Kurse sind um mindestens 15 Minuten verzögert.
19:02 29-MAR-2000
UPDATE 1 - PCCW, C&W HKT share weakness not seen threat
By Karen Richardson HONG KONG, March 29 (Reuters) - Weakness in share prices of Pacific Century CyberWorks <1186.HK> and Cable & Wireless HKT
<0008.HK> should not keep them from clearing hurdles on the route to their massive merger, analysts said on Wednesday.
"It will take a global crash for the key shareholders in the deal to have second thoughts," said Peter Milliken, telecom analyst at Lehman Brothers.
"A little price weakness here and there won`t derail the deal." PCCW welcomed on Wednesday a decision by the board of C&W HKT to put the Internet company`s
takeover offer to its shareholders.
Shares in Richard Li`s Internet firm PCCW slumped 4.51 percent to end at HK$19.05 on Wednesday.
The high-flying Internet company, not yet a year old, has fallen about 33.0 percent since its peak on February 15 of HK$28.50.
C&W HKT shares lost 3.68 percent to HK$20.95, down 24.2 percent since its record high of HK$27.65 on February 14. Both stocks have been trading lower since
February 29, when they announced their plans to merge. But analysts said the stocks` fall, which on Wednesday reflected weakness in the overall market and a 2.51
percent slide in the Nasdaq <.IXIC> overnight, did not make the deal seem significantly less palatable to shareholders.
DEAL`S VALUE ERODES PCCW`s share price weakness has, however, eroded the value of its offer of a cash-and-share combination or the alternative all-paper deal
by billions of U.S. dollars.
At Wednesday`s closing prices, the cash-share combination valued C&W HKT HK$20.785 a share or HK$251.89 billion (US$32.37 billion).
The all-share offer valued C&W HKT at HK$20.955 a share or HK$253.95 billion (US$32.6 billion).
At the time the deal was announced on February 29, PCCW said the cash and shares bid was worth US$35.9 billion and the all-paper offer was worth US$38.1 billion.
It said the maximum cash it would pay out was HK$87.9 billion (US$11.3 billion).
BIG SHAREHOLDERS KEEN ON CASH Major C&W HKT shareholders Cable & Wireless Plc , which owns 54 percent, China Telecom (Hong Kong) <0941.HK> with
10.7 percent and the Hong Kong government, said to hold about 8.0 percent, were keen on pushing through the deal, analysts said. At least 75 percent of C&W HKT
shareholders needed to approve the offer to make it successful.
"So you see the possibility for the deal to be passed is very high," said Kai Ming Shea, telecom analyst at Tai Fook Securities.
Analysts said they expected the three heavyweight stakeholders to opt for the cash-share offer, which comprises a payout of HK$7.23 and 0.7116 new PCCW share for
every C&W HKT share.
China Telecom would want cash to fund its high capital expenditure needs, while the Hong Kong government would eschew an all-paper deal because it wants to
reduce its exposure to Hong Kong equities, analysts said. GREAT EXPECTATIONS Analysts said C&W HKT`s announcement on Tuesday that it had decided to put
PCCW`s offer to shareholders was widely expected in the market.
"It was just one of those hurdles that need to be cleared, and all of those hurdles are quite low," said Milliken.
"There are various issues that need to be addressed by various shareholders and regulators, and none of them should be a barrier to the deal going through."
UPDATE 1 - PCCW, C&W HKT share weakness not seen threat
By Karen Richardson HONG KONG, March 29 (Reuters) - Weakness in share prices of Pacific Century CyberWorks <1186.HK> and Cable & Wireless HKT
<0008.HK> should not keep them from clearing hurdles on the route to their massive merger, analysts said on Wednesday.
"It will take a global crash for the key shareholders in the deal to have second thoughts," said Peter Milliken, telecom analyst at Lehman Brothers.
"A little price weakness here and there won`t derail the deal." PCCW welcomed on Wednesday a decision by the board of C&W HKT to put the Internet company`s
takeover offer to its shareholders.
Shares in Richard Li`s Internet firm PCCW slumped 4.51 percent to end at HK$19.05 on Wednesday.
The high-flying Internet company, not yet a year old, has fallen about 33.0 percent since its peak on February 15 of HK$28.50.
C&W HKT shares lost 3.68 percent to HK$20.95, down 24.2 percent since its record high of HK$27.65 on February 14. Both stocks have been trading lower since
February 29, when they announced their plans to merge. But analysts said the stocks` fall, which on Wednesday reflected weakness in the overall market and a 2.51
percent slide in the Nasdaq <.IXIC> overnight, did not make the deal seem significantly less palatable to shareholders.
DEAL`S VALUE ERODES PCCW`s share price weakness has, however, eroded the value of its offer of a cash-and-share combination or the alternative all-paper deal
by billions of U.S. dollars.
At Wednesday`s closing prices, the cash-share combination valued C&W HKT HK$20.785 a share or HK$251.89 billion (US$32.37 billion).
The all-share offer valued C&W HKT at HK$20.955 a share or HK$253.95 billion (US$32.6 billion).
At the time the deal was announced on February 29, PCCW said the cash and shares bid was worth US$35.9 billion and the all-paper offer was worth US$38.1 billion.
It said the maximum cash it would pay out was HK$87.9 billion (US$11.3 billion).
BIG SHAREHOLDERS KEEN ON CASH Major C&W HKT shareholders Cable & Wireless Plc , which owns 54 percent, China Telecom (Hong Kong) <0941.HK> with
10.7 percent and the Hong Kong government, said to hold about 8.0 percent, were keen on pushing through the deal, analysts said. At least 75 percent of C&W HKT
shareholders needed to approve the offer to make it successful.
"So you see the possibility for the deal to be passed is very high," said Kai Ming Shea, telecom analyst at Tai Fook Securities.
Analysts said they expected the three heavyweight stakeholders to opt for the cash-share offer, which comprises a payout of HK$7.23 and 0.7116 new PCCW share for
every C&W HKT share.
China Telecom would want cash to fund its high capital expenditure needs, while the Hong Kong government would eschew an all-paper deal because it wants to
reduce its exposure to Hong Kong equities, analysts said. GREAT EXPECTATIONS Analysts said C&W HKT`s announcement on Tuesday that it had decided to put
PCCW`s offer to shareholders was widely expected in the market.
"It was just one of those hurdles that need to be cleared, and all of those hurdles are quite low," said Milliken.
"There are various issues that need to be addressed by various shareholders and regulators, and none of them should be a barrier to the deal going through."
Top News
Thu, 30 Mar 2000, 11:41pm HKT
PhilWeb.Com Says It`s in Talks With CyberWorks to Invest in Cable TV Firms
By Ian C. Sayson
PhilWeb.Com, CyberWorks in Talks on Cable TV Venture (Update1)
(Adds background on Philippine cable TV, share price)
Manila, March 30 (Bloomberg) -- PhilWeb.Com Inc. said it`s in
talks with Pacific Century CyberWorks Ltd., Asia`s third-largest
Internet investment company, for a possible joint investment in
cable television companies in the Philippines.
PhilWeb.Com said in a statement to the regulators that the
two companies haven`t yet reached an agreement. PhilWeb.Com is
also holding talks with other companies, the statement said.
PhilWeb.Com, once an unprofitable mining company that turned
into a high-speed Internet provider, rose as much as 7.5 percent
to 43 centavos, snapping a four-day decline. The stock was
suspended from trading briefly at the request of the stock
exchange pending the announcement.
The Philippine Daily Inquirer reported today, citing
PhilWeb.Com President Alex Villamar, that CyberWorks and
PhilWeb.Com may be partners in a fund that will invest in
television cable companies.
CyberWorks, which agreed to acquire Cable and Wireless HKT
Ltd., Hong Kong`s dominant phone company, wants to buy into cable
companies to expand its high-speed Internet services, the paper
said.
Sky Vision Corp., an affiliate of ABS-CBN Broadcasting Corp.,
operates the nation`s largest television network. Home Cable Inc.,
Sky Vision`s closest competitor, is a unit of Philippine Long
Distance Telephone Co., the nation`s largest telephone provider.
PhilWeb.Com recently traded at 41 centavos. The stock is up
more than five-fold this year compared with a 20 percent drop in
the benchmark index.
Thu, 30 Mar 2000, 11:41pm HKT
PhilWeb.Com Says It`s in Talks With CyberWorks to Invest in Cable TV Firms
By Ian C. Sayson
PhilWeb.Com, CyberWorks in Talks on Cable TV Venture (Update1)
(Adds background on Philippine cable TV, share price)
Manila, March 30 (Bloomberg) -- PhilWeb.Com Inc. said it`s in
talks with Pacific Century CyberWorks Ltd., Asia`s third-largest
Internet investment company, for a possible joint investment in
cable television companies in the Philippines.
PhilWeb.Com said in a statement to the regulators that the
two companies haven`t yet reached an agreement. PhilWeb.Com is
also holding talks with other companies, the statement said.
PhilWeb.Com, once an unprofitable mining company that turned
into a high-speed Internet provider, rose as much as 7.5 percent
to 43 centavos, snapping a four-day decline. The stock was
suspended from trading briefly at the request of the stock
exchange pending the announcement.
The Philippine Daily Inquirer reported today, citing
PhilWeb.Com President Alex Villamar, that CyberWorks and
PhilWeb.Com may be partners in a fund that will invest in
television cable companies.
CyberWorks, which agreed to acquire Cable and Wireless HKT
Ltd., Hong Kong`s dominant phone company, wants to buy into cable
companies to expand its high-speed Internet services, the paper
said.
Sky Vision Corp., an affiliate of ABS-CBN Broadcasting Corp.,
operates the nation`s largest television network. Home Cable Inc.,
Sky Vision`s closest competitor, is a unit of Philippine Long
Distance Telephone Co., the nation`s largest telephone provider.
PhilWeb.Com recently traded at 41 centavos. The stock is up
more than five-fold this year compared with a 20 percent drop in
the benchmark index.
Thursday March 30, 3:32 am Eastern Time
INTERVIEW-Sun sees 35-40 pct Asia growth
SINGAPORE, March 30 (Reuters) - Sun Microsystems, which makes hardware that
runs websites, said on Thursday it expects revenue growth rates of 35 to 40 percent a
year in parts of Asia.
Lionel Lim, vice president and managing director of Asia South, told Reuters: ``We are
on to growth rates of 35 percent per annum, and even on to the 40 percent range.``
That regional forecast was higher than Sun`s forecast of 25 percent growth for the group.
The Palo Alto, California-based group reported revenues for the full year ended June 30 rose about 20 percent to US$11.73
billion over the previous year.
Lim said the Asia-Pacific region contributed about 24 percent to group revenue.
``I see that momentum will keep for a while and the reason is that you can see the dot-com buzz sweeping through here,`` Lim
said.
Sun shares closed at 97- on Nasdaq on Wednesday.
The stock had gained nearly 25 percent from the beginning of the year and had been one of the strongest beneficiaries of the
explosive growth of the Internet.
In October, Sun sponsored a $48 million Asian Java Fund, which invests in Asian Internet companies that use its Java
computer language.
Lim said the fund had since expanded to $58 million and had invested in six start-ups to date, of which some were about to
list.
He did not specify which companies were about to go public nor the exchanges they would trade on.
Two of the six companies were Internet-based applications services firm, BizTone, headquartered in Singapore, and Hong
Kong-based Chinese-English content provider renren.com.
Hong Kong-based AsiaTech Ventures Ltd, a venture capital firm specialising in the Internet and communications industries,
manages the fund.
It had said the fund would aim for an investment return of 30 to 40 percent per annum.
``I will be really surprised if the Asia Java Fund does not turn in good returns to the investors,`` Lim said.
Other investors in the fund included Pacific Century Cyberworks , NTT DoCoMo , Singapore Telecommunications Ltd and the Technopreneurship Investment Fund of Singapore.
INTERVIEW-Sun sees 35-40 pct Asia growth
SINGAPORE, March 30 (Reuters) - Sun Microsystems, which makes hardware that
runs websites, said on Thursday it expects revenue growth rates of 35 to 40 percent a
year in parts of Asia.
Lionel Lim, vice president and managing director of Asia South, told Reuters: ``We are
on to growth rates of 35 percent per annum, and even on to the 40 percent range.``
That regional forecast was higher than Sun`s forecast of 25 percent growth for the group.
The Palo Alto, California-based group reported revenues for the full year ended June 30 rose about 20 percent to US$11.73
billion over the previous year.
Lim said the Asia-Pacific region contributed about 24 percent to group revenue.
``I see that momentum will keep for a while and the reason is that you can see the dot-com buzz sweeping through here,`` Lim
said.
Sun shares closed at 97- on Nasdaq on Wednesday.
The stock had gained nearly 25 percent from the beginning of the year and had been one of the strongest beneficiaries of the
explosive growth of the Internet.
In October, Sun sponsored a $48 million Asian Java Fund, which invests in Asian Internet companies that use its Java
computer language.
Lim said the fund had since expanded to $58 million and had invested in six start-ups to date, of which some were about to
list.
He did not specify which companies were about to go public nor the exchanges they would trade on.
Two of the six companies were Internet-based applications services firm, BizTone, headquartered in Singapore, and Hong
Kong-based Chinese-English content provider renren.com.
Hong Kong-based AsiaTech Ventures Ltd, a venture capital firm specialising in the Internet and communications industries,
manages the fund.
It had said the fund would aim for an investment return of 30 to 40 percent per annum.
``I will be really surprised if the Asia Java Fund does not turn in good returns to the investors,`` Lim said.
Other investors in the fund included Pacific Century Cyberworks , NTT DoCoMo , Singapore Telecommunications Ltd and the Technopreneurship Investment Fund of Singapore.
Note - HK603 closed at HK$5.50
12:42
Japan Hikari suspended trading, Hikari Int`l`s(0603) share price slumped 20%
(Infocast News) Affected by Hikari Tsushin, parent company, fell sharply to suspend trading again, Hikari Tsushin International (0603) ended down 20.6% from $7.25 to
$5.8 at midday.
Japan Hikari Tsushin`s share price was YEN 68800 before suspension, fell 12.6% or YEN 10000 from the previous of YEN 78800.
(03/04/00)
12:42
Japan Hikari suspended trading, Hikari Int`l`s(0603) share price slumped 20%
(Infocast News) Affected by Hikari Tsushin, parent company, fell sharply to suspend trading again, Hikari Tsushin International (0603) ended down 20.6% from $7.25 to
$5.8 at midday.
Japan Hikari Tsushin`s share price was YEN 68800 before suspension, fell 12.6% or YEN 10000 from the previous of YEN 78800.
(03/04/00)
11:37
PCCW (1186) invested US$400M in 42 new items in the last 8 months
(Infocast News) Pacific Century CyberWorks (1186) (PCCW) announced the latest investment projects of its subsidiary Cyber Works Ventures (CWV) in a meeting
with analysts held this morning. As told by analysts, the managements of PCCW said that CWV invested in 42 companies for an amount of US$400 million in the past 8
months. The item with the best returns is tom.com (8001) which has brought a 8-fold to 9-fold returns.
According to the information, PCCW subscribed 120 million new shares of tom.com at an average price of $1.29 each. The share price of tom.com went down to the
latest $10.3. The book profit is still 7-fold.
On top of that, the managements of PCCW said that this year CMV is going on investing new items mainly in the market of Japan, the PRC and India.
(03/04/00)
PCCW (1186) invested US$400M in 42 new items in the last 8 months
(Infocast News) Pacific Century CyberWorks (1186) (PCCW) announced the latest investment projects of its subsidiary Cyber Works Ventures (CWV) in a meeting
with analysts held this morning. As told by analysts, the managements of PCCW said that CWV invested in 42 companies for an amount of US$400 million in the past 8
months. The item with the best returns is tom.com (8001) which has brought a 8-fold to 9-fold returns.
According to the information, PCCW subscribed 120 million new shares of tom.com at an average price of $1.29 each. The share price of tom.com went down to the
latest $10.3. The book profit is still 7-fold.
On top of that, the managements of PCCW said that this year CMV is going on investing new items mainly in the market of Japan, the PRC and India.
(03/04/00)
11:27
PCCW (1186) talks on 50-60 items, may spin off for listing
(Infocast News) Alexander Anthony Arena, Managing Director of Pacific Century CyberWorks (1186) (PCCW), said when meeting with analysts this morning that the
company is interested in investing in internet content provider, and is in talks on 50 to 60 projects but no agreements have been concluded. He added that the company
will possibly spin off its businesses for listing but did not said precisely which businesses will be spinned off.
He reiterated that the company will focus its development in the PRC, Japan, India and Hong Kong, etc..
One of the 8 investment items announced by the company yesterday is an acquisition of less than 5% stakes of Palm.
(03/04/00)
PCCW (1186) talks on 50-60 items, may spin off for listing
(Infocast News) Alexander Anthony Arena, Managing Director of Pacific Century CyberWorks (1186) (PCCW), said when meeting with analysts this morning that the
company is interested in investing in internet content provider, and is in talks on 50 to 60 projects but no agreements have been concluded. He added that the company
will possibly spin off its businesses for listing but did not said precisely which businesses will be spinned off.
He reiterated that the company will focus its development in the PRC, Japan, India and Hong Kong, etc..
One of the 8 investment items announced by the company yesterday is an acquisition of less than 5% stakes of Palm.
(03/04/00)
Monday, April 3, 2000
CyberWorks makes more investments
ERIC NG
--------------------------------------------------------------------------------
The venture-capital arm of Pacific Century CyberWorks (PCCW) has revealed eight new investments as the Internet group gears up for its mid-year launch of a
pan-Asia high-speed Internet service.
CyberWorks Ventures now has 42 investments.
A PCCW spokesman declined to give the value of the investments, saying the company was under regulatory constraints while its proposed merger with Cable &
Wireless HKT was under review.
She said the investments would help the group source content and technologies required for its Network of the World Internet service, to be launched by the group`s
broadband Internet unit Pacific Convergence Corp later this year.
"[One of the goals of our investments] is to serve the Pacific Convergence Corp strategy - gathering the best in content and technology that will benefit our Network of
the World service," PCCW chairman Richard Li Tzar-kai said.
Pacific Convergence has invested HK$110.8 million on developing Network of the World in the 12 months to December, and has signed more than 12 letters of intent
and memorandums of understanding with cable-television operators on its launch.
The spokesman said the network would have country-specific content and at least eight channels, including sports, entertainment, weather and commerce.
The content will be developed out of a 55,000 square-foot production centre in London in co-operation with Transworld International, and a smaller facility in Hong Kong.
The network - initially free and available in English, Chinese and Japanese - will be accessible to a potential 130 million "cable-enabled" households.
The network will source the bulk of its revenues from advertising and e-commerce initially.
The eight investments by CyberWorks Ventures include a US$3 million investment in US-based interactive audio technologies developer Beatnik, whose solutions
integrate audio content into Internet operations.
It has also taken an undisclosed stake in Silicon-Valley broadband communications firm Dotcast, whose technology allows television stations and cable operators to
deliver video content to televisions, computers and other digital devices.
CyberWorks Ventures has bought a 22.4 per cent stake in US-based 3Fusion, which helps content providers integrate commerce into their Web sites.
Other investments include a 5 per cent stake in India portal Rediff, a 4.65 per cent stake in mainland portal Sohu, an undisclosed stake in on-line health firm Taste For
Living and a "minor" stake in US handheld computing-device maker Palm.
http://www.scmp.com/News/Business/Article/FullText_asp_Art…
CyberWorks makes more investments
ERIC NG
--------------------------------------------------------------------------------
The venture-capital arm of Pacific Century CyberWorks (PCCW) has revealed eight new investments as the Internet group gears up for its mid-year launch of a
pan-Asia high-speed Internet service.
CyberWorks Ventures now has 42 investments.
A PCCW spokesman declined to give the value of the investments, saying the company was under regulatory constraints while its proposed merger with Cable &
Wireless HKT was under review.
She said the investments would help the group source content and technologies required for its Network of the World Internet service, to be launched by the group`s
broadband Internet unit Pacific Convergence Corp later this year.
"[One of the goals of our investments] is to serve the Pacific Convergence Corp strategy - gathering the best in content and technology that will benefit our Network of
the World service," PCCW chairman Richard Li Tzar-kai said.
Pacific Convergence has invested HK$110.8 million on developing Network of the World in the 12 months to December, and has signed more than 12 letters of intent
and memorandums of understanding with cable-television operators on its launch.
The spokesman said the network would have country-specific content and at least eight channels, including sports, entertainment, weather and commerce.
The content will be developed out of a 55,000 square-foot production centre in London in co-operation with Transworld International, and a smaller facility in Hong Kong.
The network - initially free and available in English, Chinese and Japanese - will be accessible to a potential 130 million "cable-enabled" households.
The network will source the bulk of its revenues from advertising and e-commerce initially.
The eight investments by CyberWorks Ventures include a US$3 million investment in US-based interactive audio technologies developer Beatnik, whose solutions
integrate audio content into Internet operations.
It has also taken an undisclosed stake in Silicon-Valley broadband communications firm Dotcast, whose technology allows television stations and cable operators to
deliver video content to televisions, computers and other digital devices.
CyberWorks Ventures has bought a 22.4 per cent stake in US-based 3Fusion, which helps content providers integrate commerce into their Web sites.
Other investments include a 5 per cent stake in India portal Rediff, a 4.65 per cent stake in mainland portal Sohu, an undisclosed stake in on-line health firm Taste For
Living and a "minor" stake in US handheld computing-device maker Palm.
http://www.scmp.com/News/Business/Article/FullText_asp_Art…
HONG KONG, Apr 3, 2000 (BUSINESS WIRE) --
Eight New Pacific Century CyberWorks Investments Increase Portfolio to 42
Range and Pace of Investments Continues
as PCCW Acts On Strategy to Expand Asian Internet Economy
and Build Diverse Internet Company Network
CyberWorks Ventures, the venture capital arm of Pacific Century CyberWorks
("PCCW" Reuters 1186.HK; Bloomberg 1186), the technology flagship of the Pacific
Century Group, announced eight new investments today.
Continuing its rapid investment pace, CyberWorks Ventures (CWV) has invested in
a total of 42 companies, including those announced today, since PCCW`s inception
eight months ago.
The investments today reflect CWV`s three-pronged strategy. CWV invests to
foster rapid growth and industry leadership across PCCW`s network and the Asian
Internet economy. The division`s second strategy is to aggregate venture
technologies into a turnkey server operating system solution to provide a
one-stop-shop for businesses that plan to migrate to the web. Finally, CWV aims
to build the largest, most diverse network of Internet companies in Asia.
CWV is pleased to announce the following eight new investments
finalised within the last three months:
-- PCCW has made a $US3 million investment in Beatnik, Inc.,
developer of professional audio tools and technologies
designed to sonify the Web.
-- A stake in Dotcast Inc., a broadband communications company
located in Silicon Valley enabling rich-media content,
e-commerce and communication service providers to more
effectively deliver digital products and services to
businesses and consumers. Its state-of-the art technology will
allow TV stations and cable operators to deliver high-quality
video to PCs, TVs and other Dotcast-enabled devices over their
analog and digital channels at speeds of 4.5 to 12 megabits
per second.
-- A further increase in equity shareholding in Outblaze to 46
percent. Outblaze provides customisable email, mailing list,
message boards and other services for web sites offering
private label portal services;
-- A minor stake in Palm, Inc., the number one provider of
handheld computing devices;
-- PCCW has taken a 5 percent stake in Rediff, India`s largest
Internet portal, with 560,000 registered email users and 57
million page views per month as of January 2000 according to
AC Nielsen;
-- PCCW has made a 4.65 percent investment in SOHU.com, one of
the most popular; Internet portals in mainland China;
-- A stake in consumer ratings company Taste For Living, an
on-line health and wellness company that originates from the
highly acclaimed Taste For Living Cookbook by Michael Milken
and empowers people to educate themselves about nutrition and
nutrition`s role in cancer prevention.
-- A 22.4 percent investment in 3Fusion. With 3Fusion`s Networked
E-Commerce Infrastructure(TM) "merchants" (manufacturer,
distributor or supplier) and content providers can leverage
content and community to drive commerce. 3Fusion`s
easy-to-implement e-commerce platform and embedded content
catalog enables content providers to integrate commerce into
their sites and merchants direct access to target markets.
Additionally
-- PCCW`s division Pacific Convergence Cooperation (PCC) has
taken a 49% stake in Data Access, an Indian Internet service
provider.
These transactions follow 11 announced in the first quarter including:
-- Formation of $US1.5 billion venture capital fund @Ventures
Global Partners with CMGI, Hicks, Muse, Tate & Furst to invest
in emerging Internet businesses in Europe, Asia and the
Americas;
-- An agreement to co-invest with Bowman Capital in selected
expansion-stage, privately held technology companies with
significant growth potential in Asian markets;
-- The formation of CMGI Asia, a 50/50 joint venture with CMGI,
to create and operate Internet-related business in the Asia
Pacific region;
-- A 12.5 percent investment in DigiScents Inc., the pioneer of
digital scent technology;
-- A 10 percent investment in iMerchants, the e-commerce
solutions provider;
-- An 8 percent stake in Intelligenesis Corporation, a software
company developing artificial intelligence technology;
-- A 12.5 percent equity stake in Magically Inc., a U.S.-based
application service provider (ASP), that develops virtual
desktop technology;
-- A 25 percent stake in pp.com, Hong Kong`s first independent
property website;
-- The launch of Pacific Century SoftNet (PCCW`s 50/50 joint
venture with SoftNet), which will market high speed Internet
access, technical expertise and related services and products
to Asian cable operators and their 130 million subscribers in
more than 50 Asian countries;
-- A 4.25 percent stake in tom.com, the vertical portal for China
that will focus on creating a unified database of global and
PRC Chinese Web users;
-- An investment in TurboLinux Inc., a leading international
provider of the Linux operating software;
-- A strategic stake in Weave Innovations, developers of the
StoryBox platform for the distribution of digital images and
personalized content;
"Our investments are about pushing the Internet frontier in Asia and
accelerating the Internet economy`s growth," said Richard Li, Chairman of
Pacific Century Group. "A parallel goal is the need to serve our Pacific
Convergence Corporation strategy, gathering the best in content and technology
that will benefit our Network of the World service. The investments we are
announcing today were made with this in mind and we will continue to set the
pace for investment in Asia."
Today`s announcements also further PCCW`s stated aim to be the preferred
Internet partner in Asia, the most rapidly developing Internet market in the
world. The PCCW pan-Asian service, PCC`s NOW (Network of the World), to be
launched later this year, will comprise the largest Internet distribution system
in the world, with a potential reach of 130 million households. NOW will offer
the world`s first fully converged service providing interactive digital video
viewing and web access.
About Beatnik, Inc.
Beatnik, Inc. brings interactive music and sound to the Web through its
combination of technology, content and community. Beatnik`s solution includes a
line of applications, production music, sound content and software technologies
that enables the integration of interactive audio content into the Web
experience, known as sonification. Beatnik develops, markets and sells its
interactive audio solution to a community of creative professionals, potential
licensees of its technology and consumers enabling them to build and interact
with music and sound over the Web, on computers and other digital devices.
http://www.beatnik.com.
About Bowman Capital
Bowman Capital is a premier investment management firm, specializing in both
public and private technology growth companies. Founded in 1995 and located in
Silicon Valley, the firm currently manages over $5 billion in assets. Bowman`s
investment philosophy is based on intensive, fundamental research of technology
companies in various stages of the growth cycle: pre-IPO, aggressive growth, and
mature growth. The firm`s private equity investments focus on leading
expansion-stage companies building the New Internet Economy.
About CMGI
With more than 60 companies, CMGI, Inc. (Nasdaq:CMGI) represents the largest,
most diverse network of Internet companies in the world. This network includes
both CMGI operating companies and a growing number of synergistic investments
through its venture capital affiliate, @Ventures. CMGI leverages the
technologies, content and market reach of its extended family of companies to
foster rapid growth and industry leadership across its network, and the larger
Internet Economy. Compaq, Intel, Microsoft, Pacific Century CyberWorks and
Sumitomo hold minority positions in CMGI.
About Data Access
Data Access is a Delhi-based Internet service provider established in 1999 with
backing from Mr. Siddharth Ray, managing director of Stracon India. Data Access
is a Category A ISP license holder and has the approval of the Indian government
to construct and operate an international ISP gateway from India.
About DigiScents, Inc.
DigiScents is partnering with leading web sites and interactive media companies
to scent-enable the Internet. With DigiScents Digital Scent Technology,
consumers will be able to enjoy more lifelike and memorable experiences with
scented Web sites, e-mail, movies, music, e-commerce, interactive games, and
online advertising. In October 1999, DigiScents first announced its complete
solution for digitizing and broadcasting scents over the Internet. Through a
partnership with RealNetworks(R), DigiScents ScentStream software will be
auto-downloaded to almost 100 million Real Player users. DigiScents
(www.digiscents.com) is a privately held corporation located in Oakland,
California. The company was founded in February 1999 by Dexster Smith and Joel
Bellenson. Bellenson and Smith also founded DoubleTwist (www.doubletwist.com),
formerly Pangea Systems Inc., a leading bioinformatics company.
About Dotcast Inc.
The Dotcast Digital network will enable rich-media content, e-commerce and
communication service providers to more effectively deliver digital products and
services to businesses and consumers. Its state-of-the art technology will allow
TV stations and cable operators to deliver high-quality video to PCs, TVs and
other Dotcast-enabled devices over their analog and digital channels at speeds
of 4.5 to 12 megabits per second. The signal won`t degrade the TV signal or
interfere with reception.
About Hicks, Muse, Tate & Furst
Since its formation in 1989, Hicks, Muse, Tate & Furst Incorporated has
completed or currently has pending more than 325 transactions with an aggregate
capital value of approximately $43 billion, including invested equity of more
than $3 billion in the media and telecommunications sectors. Its principal
office is in Dallas with additional offices in New York, London and Buenos
Aires.
About iMerchants
iMerchants (www.imerchants.com) is a privately held company based in Hong Kong.
It is a leading Internet electronic commerce service provider. IMerchants`
turn-key approach to e-commerce enables companies to adopt e-commerce faster and
less expensively than an "in-house" implementation. iMerchants provides secure,
fast and reliable site hosting solutions in both shared and dedicated server
environments. IMerchants` site design and software development teams build
catalog, procurement and service delivery sites that link a company`s existing
systems. Transaction and payment processing solutions complete the iMerchants
e-commerce package. iMerchants also offers consulting services and a service
menu for businessmen who want to start up an e-commerce operation. iMerchants
gives companies a single source for Internet electronic commerce.
About Intelligenesis Corporation
Intelligenesis Corporation is a development-stage software company pioneering a
new breed of digital intelligence for the Internet information economy. The
company is developing an artificial intelligence software architecture that
understands the meaning of concepts expressed in text, speech, and numerical
data patterns. By transforming documents and databases into a dynamic mind-like
network of associations, WebMind can distinguish meaning in unstructured text,
where the bulk of human knowledge is stored. In this way, human experience and
psychology can be quantified for use in business analytics and decision-making.
The company intends to use the WebMind engine to develop a portfolio of advanced
web-based financial and information products and services. Two of these products
are in an advanced stage of development, and are expected for release this year.
Intelligenesis currently has approximately 90 employees located primarily in New
York City and Brazil. http://www.intelligenesis.net.
About Magically, Inc.
Magically, Inc. is the developer of the Internet-based "virtual desktop"
MagicalDesk, a suite of Web-based applications which includes email, address
book, calendar, task list, Internet bookmarks, file storage, document viewing,
and file synchronization. Magically makes its virtual desktop available to
Internet portals, content providers, application service providers, Internet
service providers, and original equipment manufacturers. Magically customizes
the virtual desktop to seamlessly integrate into each co-brander`s Internet
site. Magically also maintains its own virtual desktop web sites
(www.magicaldesk.com for PCs and www.imagicaldesk.com for Apple Mac) to showcase
its technology. Based in Redwood City, California, Magically, Inc., is privately
owned and operated. More information about Magically and MagicalDesk is
available at www.magically.com.
About Outblaze
Outblaze (www.outblaze.com) is the pioneer in the development and provision of
multilingual integrated Internet community solutions for web sites that wish to
offer their own private label portal services, including customisable web based
free e-mail, mailing list, message board, calendar and chat services. At the
time of writing, Outblaze has signed up over 20,000 web sites and over 3 million
user members since January 1999. World-wide brand name portals powered by
Outblaze include Star TV, Newscorp`s Chinabyte, Windrivers, China.com,
Chinaseek, Planet Alumni, the insurance portal Ebix, and the Sportsmail Network.
About Palm, Inc.
Palm, Inc. is the leading provider of handheld computing devices (IDC, May
1999), including the Palm III(TM), Palm V(TM) and Palm VII(TM) series of
handheld computers. The Palm OS(TM) platform is the foundation for the
market-leading handheld computers from the company as well as products from its
strategic partners such as IBM, QUALCOMM, Franklin Covey, Handspring and Symbol
Technologies. Designed to support the increasingly mobile and geographically
dispersed nature of information management, the company`s handheld solutions
allow people to carry their most critical information in their pockets.
According to IDC (May 1999), Palm Computing commands 68% of the worldwide market
for personal companies. For more information, please visit www.palm.com.
About pp.com
Established in October 1999, pp.com is Hong Kong`s first vertical portal
specially designed for the Asian property industry, delivering a unique one-stop
property solution. Headquartered in Hong Kong, pp.com has already established
operations in Beijing, Guangzhou and Shanghai, and has plans to open offices in
Singapore, Japan and Taiwan in the coming months. The site is not owned by a
developer or estate agency, so the information provided is neutral, accurate and
constantly updated. For more information please visit http://www.pp.com.
About Rediff
Founded in 1996, Rediff is the largest web-based online service in India. Its
service delivers news, information, free email, chat, personal home pages and
online shopping for books, music and hotel reservations to an audience in India
and Indians worldwide. The company is also the largest website builder in India
and builds high-end websites for customers in India and worldwide. Rediff has
been rated by CNN as one of the top 50 news-sites in the world. CNN also rated
it as the most preferred site for Indians worldwide. The company is privately
held, and is headquartered in Mumbai, India. Rediff has also filed for a Nasdaq
listing. The rediff.com website can be found at http://www.rediff.com/.
PCCW and SoftNet
The launch of Pacific Century SoftNet is part of a broader relationship between
SoftNet and PCCW. In January, the companies announced the completion of a
transaction in which PCCW paid $129 million for 5 million shares (approximately
23%) of SoftNet common stock. George Chan, Executive Vice President of Pacific
Century Group, was appointed to SoftNet`s board of directors. Pacific Century
Group expects to name a second board member later this year.
About SOHU.com
SOHU.com is China`s first and largest Web portal with daily page views of over
six million and registered email users of over 850,000. SOHU.com offers a
proprietary directory that has helped shape the searching habit of Mainland
Chinese. This powerful, Chinese-based search engine was created by Internet
Technologies China (ITC), a Beijing-based Internet start-up originally backed by
MIT professors and scholars. SOHU.com is a qualitatively derived classification
system that has been designed to match the particular cultural tendencies of the
Chinese user. Its classification hierarchy is divided into eighteen sections and
houses over two hundred thousand links. It is a user-friendly search guide that
also features a search engine. In addition to a free search service, Sohu.com
also provides 20 high quality branded content channels, free email, and BBS.
About Taste For Living
Taste For Living is an on-line health and wellness company, which originates
from the highly acclaimed Taste For Living Cookbook by Michael Milken. Their
primary mission is to enable people to educate themselves about nutrition and
nutrition`s role in cancer prevention. They are also committed to raising
general awareness of the importance of healthy lifestyles and allowing consumers
to make informed buying decisions about health and wellness related products and
services.
About 3Fusion
3Fusion (www.3fusion.com) was founded April 6, 1999 by two Principal Engineers
from Netscape Communications/AOL. The founders joined Netscape Communications in
January 1995 and were involved in leading the development of several successful
e-commerce products. To build an all-star technical team, the founders recruited
senior developers from various locations and companies. The founding team has
extensive experience in Unix, NT, database, distributed computing, e-commerce
and high traffic network infrastructure design and operations.
3Fusion developers have very innovative, scalable and fault tolerant technology.
3Fusion has received 1st round funding of US $8 million and is on track to roll
out its services in US and Asia for partners` beta trial during Q1, 2000.
About Tom.com
Launched in December last year, vertical portal tom.com is listed at Hong Kong`s
Growth Enterprise Market (GEM) on March 1, 2000. It aims to be a content
aggregator of China by developing information and entertainment-related
businesses serving global Chinese and mainland web users. tom.com is majority
owned by Cheung Kong (40%) and Hutchison (20%). Its partners include content
providers such as China Travel Network Co., China National Publications Import
and Export Corp., and the Chinese Academy of Science.
About TurboLinux
Founded in 1992, TurboLinux is the world`s fastest-growing Linux company with investment backing from more than 20 global hardware, software and services
companies, including BEA, Compaq, Dell, Intel, Fujitsu Support and Services, NEC, Novell, SCO and Toshiba. A market leader in Linux software clustering solutions
and Linux internationalization, the company`s high-performance consumer and business Linux products run on Intel, Alpha and PowerPC workstation and server
platforms and are supported globally by IBM, Hewlett-Packard and SCO. Headquartered in San Francisco, TurboLinux has offices in Beijing, Buenos Aires, Hamburg,
Sydney and Tokyo. The company`s home page is located on the Internet at www.turbolinux.com, in Japanese at www.turbolinux.co.jp and in Chinese at
www.turbolinux.com.cn.
About Weave Innovations
Started in 1998, Weave Innovations builds products and services that leverage the Internet to enhance the way people communicate with each other. The Weave
Innovations management team consists of experienced executives and engineers from storied Silicon Valley-based companies, such as Intel Corporation, Silicon
Graphics Inc., and Wink Communications
Eight New Pacific Century CyberWorks Investments Increase Portfolio to 42
Range and Pace of Investments Continues
as PCCW Acts On Strategy to Expand Asian Internet Economy
and Build Diverse Internet Company Network
CyberWorks Ventures, the venture capital arm of Pacific Century CyberWorks
("PCCW" Reuters 1186.HK; Bloomberg 1186), the technology flagship of the Pacific
Century Group, announced eight new investments today.
Continuing its rapid investment pace, CyberWorks Ventures (CWV) has invested in
a total of 42 companies, including those announced today, since PCCW`s inception
eight months ago.
The investments today reflect CWV`s three-pronged strategy. CWV invests to
foster rapid growth and industry leadership across PCCW`s network and the Asian
Internet economy. The division`s second strategy is to aggregate venture
technologies into a turnkey server operating system solution to provide a
one-stop-shop for businesses that plan to migrate to the web. Finally, CWV aims
to build the largest, most diverse network of Internet companies in Asia.
CWV is pleased to announce the following eight new investments
finalised within the last three months:
-- PCCW has made a $US3 million investment in Beatnik, Inc.,
developer of professional audio tools and technologies
designed to sonify the Web.
-- A stake in Dotcast Inc., a broadband communications company
located in Silicon Valley enabling rich-media content,
e-commerce and communication service providers to more
effectively deliver digital products and services to
businesses and consumers. Its state-of-the art technology will
allow TV stations and cable operators to deliver high-quality
video to PCs, TVs and other Dotcast-enabled devices over their
analog and digital channels at speeds of 4.5 to 12 megabits
per second.
-- A further increase in equity shareholding in Outblaze to 46
percent. Outblaze provides customisable email, mailing list,
message boards and other services for web sites offering
private label portal services;
-- A minor stake in Palm, Inc., the number one provider of
handheld computing devices;
-- PCCW has taken a 5 percent stake in Rediff, India`s largest
Internet portal, with 560,000 registered email users and 57
million page views per month as of January 2000 according to
AC Nielsen;
-- PCCW has made a 4.65 percent investment in SOHU.com, one of
the most popular; Internet portals in mainland China;
-- A stake in consumer ratings company Taste For Living, an
on-line health and wellness company that originates from the
highly acclaimed Taste For Living Cookbook by Michael Milken
and empowers people to educate themselves about nutrition and
nutrition`s role in cancer prevention.
-- A 22.4 percent investment in 3Fusion. With 3Fusion`s Networked
E-Commerce Infrastructure(TM) "merchants" (manufacturer,
distributor or supplier) and content providers can leverage
content and community to drive commerce. 3Fusion`s
easy-to-implement e-commerce platform and embedded content
catalog enables content providers to integrate commerce into
their sites and merchants direct access to target markets.
Additionally
-- PCCW`s division Pacific Convergence Cooperation (PCC) has
taken a 49% stake in Data Access, an Indian Internet service
provider.
These transactions follow 11 announced in the first quarter including:
-- Formation of $US1.5 billion venture capital fund @Ventures
Global Partners with CMGI, Hicks, Muse, Tate & Furst to invest
in emerging Internet businesses in Europe, Asia and the
Americas;
-- An agreement to co-invest with Bowman Capital in selected
expansion-stage, privately held technology companies with
significant growth potential in Asian markets;
-- The formation of CMGI Asia, a 50/50 joint venture with CMGI,
to create and operate Internet-related business in the Asia
Pacific region;
-- A 12.5 percent investment in DigiScents Inc., the pioneer of
digital scent technology;
-- A 10 percent investment in iMerchants, the e-commerce
solutions provider;
-- An 8 percent stake in Intelligenesis Corporation, a software
company developing artificial intelligence technology;
-- A 12.5 percent equity stake in Magically Inc., a U.S.-based
application service provider (ASP), that develops virtual
desktop technology;
-- A 25 percent stake in pp.com, Hong Kong`s first independent
property website;
-- The launch of Pacific Century SoftNet (PCCW`s 50/50 joint
venture with SoftNet), which will market high speed Internet
access, technical expertise and related services and products
to Asian cable operators and their 130 million subscribers in
more than 50 Asian countries;
-- A 4.25 percent stake in tom.com, the vertical portal for China
that will focus on creating a unified database of global and
PRC Chinese Web users;
-- An investment in TurboLinux Inc., a leading international
provider of the Linux operating software;
-- A strategic stake in Weave Innovations, developers of the
StoryBox platform for the distribution of digital images and
personalized content;
"Our investments are about pushing the Internet frontier in Asia and
accelerating the Internet economy`s growth," said Richard Li, Chairman of
Pacific Century Group. "A parallel goal is the need to serve our Pacific
Convergence Corporation strategy, gathering the best in content and technology
that will benefit our Network of the World service. The investments we are
announcing today were made with this in mind and we will continue to set the
pace for investment in Asia."
Today`s announcements also further PCCW`s stated aim to be the preferred
Internet partner in Asia, the most rapidly developing Internet market in the
world. The PCCW pan-Asian service, PCC`s NOW (Network of the World), to be
launched later this year, will comprise the largest Internet distribution system
in the world, with a potential reach of 130 million households. NOW will offer
the world`s first fully converged service providing interactive digital video
viewing and web access.
About Beatnik, Inc.
Beatnik, Inc. brings interactive music and sound to the Web through its
combination of technology, content and community. Beatnik`s solution includes a
line of applications, production music, sound content and software technologies
that enables the integration of interactive audio content into the Web
experience, known as sonification. Beatnik develops, markets and sells its
interactive audio solution to a community of creative professionals, potential
licensees of its technology and consumers enabling them to build and interact
with music and sound over the Web, on computers and other digital devices.
http://www.beatnik.com.
About Bowman Capital
Bowman Capital is a premier investment management firm, specializing in both
public and private technology growth companies. Founded in 1995 and located in
Silicon Valley, the firm currently manages over $5 billion in assets. Bowman`s
investment philosophy is based on intensive, fundamental research of technology
companies in various stages of the growth cycle: pre-IPO, aggressive growth, and
mature growth. The firm`s private equity investments focus on leading
expansion-stage companies building the New Internet Economy.
About CMGI
With more than 60 companies, CMGI, Inc. (Nasdaq:CMGI) represents the largest,
most diverse network of Internet companies in the world. This network includes
both CMGI operating companies and a growing number of synergistic investments
through its venture capital affiliate, @Ventures. CMGI leverages the
technologies, content and market reach of its extended family of companies to
foster rapid growth and industry leadership across its network, and the larger
Internet Economy. Compaq, Intel, Microsoft, Pacific Century CyberWorks and
Sumitomo hold minority positions in CMGI.
About Data Access
Data Access is a Delhi-based Internet service provider established in 1999 with
backing from Mr. Siddharth Ray, managing director of Stracon India. Data Access
is a Category A ISP license holder and has the approval of the Indian government
to construct and operate an international ISP gateway from India.
About DigiScents, Inc.
DigiScents is partnering with leading web sites and interactive media companies
to scent-enable the Internet. With DigiScents Digital Scent Technology,
consumers will be able to enjoy more lifelike and memorable experiences with
scented Web sites, e-mail, movies, music, e-commerce, interactive games, and
online advertising. In October 1999, DigiScents first announced its complete
solution for digitizing and broadcasting scents over the Internet. Through a
partnership with RealNetworks(R), DigiScents ScentStream software will be
auto-downloaded to almost 100 million Real Player users. DigiScents
(www.digiscents.com) is a privately held corporation located in Oakland,
California. The company was founded in February 1999 by Dexster Smith and Joel
Bellenson. Bellenson and Smith also founded DoubleTwist (www.doubletwist.com),
formerly Pangea Systems Inc., a leading bioinformatics company.
About Dotcast Inc.
The Dotcast Digital network will enable rich-media content, e-commerce and
communication service providers to more effectively deliver digital products and
services to businesses and consumers. Its state-of-the art technology will allow
TV stations and cable operators to deliver high-quality video to PCs, TVs and
other Dotcast-enabled devices over their analog and digital channels at speeds
of 4.5 to 12 megabits per second. The signal won`t degrade the TV signal or
interfere with reception.
About Hicks, Muse, Tate & Furst
Since its formation in 1989, Hicks, Muse, Tate & Furst Incorporated has
completed or currently has pending more than 325 transactions with an aggregate
capital value of approximately $43 billion, including invested equity of more
than $3 billion in the media and telecommunications sectors. Its principal
office is in Dallas with additional offices in New York, London and Buenos
Aires.
About iMerchants
iMerchants (www.imerchants.com) is a privately held company based in Hong Kong.
It is a leading Internet electronic commerce service provider. IMerchants`
turn-key approach to e-commerce enables companies to adopt e-commerce faster and
less expensively than an "in-house" implementation. iMerchants provides secure,
fast and reliable site hosting solutions in both shared and dedicated server
environments. IMerchants` site design and software development teams build
catalog, procurement and service delivery sites that link a company`s existing
systems. Transaction and payment processing solutions complete the iMerchants
e-commerce package. iMerchants also offers consulting services and a service
menu for businessmen who want to start up an e-commerce operation. iMerchants
gives companies a single source for Internet electronic commerce.
About Intelligenesis Corporation
Intelligenesis Corporation is a development-stage software company pioneering a
new breed of digital intelligence for the Internet information economy. The
company is developing an artificial intelligence software architecture that
understands the meaning of concepts expressed in text, speech, and numerical
data patterns. By transforming documents and databases into a dynamic mind-like
network of associations, WebMind can distinguish meaning in unstructured text,
where the bulk of human knowledge is stored. In this way, human experience and
psychology can be quantified for use in business analytics and decision-making.
The company intends to use the WebMind engine to develop a portfolio of advanced
web-based financial and information products and services. Two of these products
are in an advanced stage of development, and are expected for release this year.
Intelligenesis currently has approximately 90 employees located primarily in New
York City and Brazil. http://www.intelligenesis.net.
About Magically, Inc.
Magically, Inc. is the developer of the Internet-based "virtual desktop"
MagicalDesk, a suite of Web-based applications which includes email, address
book, calendar, task list, Internet bookmarks, file storage, document viewing,
and file synchronization. Magically makes its virtual desktop available to
Internet portals, content providers, application service providers, Internet
service providers, and original equipment manufacturers. Magically customizes
the virtual desktop to seamlessly integrate into each co-brander`s Internet
site. Magically also maintains its own virtual desktop web sites
(www.magicaldesk.com for PCs and www.imagicaldesk.com for Apple Mac) to showcase
its technology. Based in Redwood City, California, Magically, Inc., is privately
owned and operated. More information about Magically and MagicalDesk is
available at www.magically.com.
About Outblaze
Outblaze (www.outblaze.com) is the pioneer in the development and provision of
multilingual integrated Internet community solutions for web sites that wish to
offer their own private label portal services, including customisable web based
free e-mail, mailing list, message board, calendar and chat services. At the
time of writing, Outblaze has signed up over 20,000 web sites and over 3 million
user members since January 1999. World-wide brand name portals powered by
Outblaze include Star TV, Newscorp`s Chinabyte, Windrivers, China.com,
Chinaseek, Planet Alumni, the insurance portal Ebix, and the Sportsmail Network.
About Palm, Inc.
Palm, Inc. is the leading provider of handheld computing devices (IDC, May
1999), including the Palm III(TM), Palm V(TM) and Palm VII(TM) series of
handheld computers. The Palm OS(TM) platform is the foundation for the
market-leading handheld computers from the company as well as products from its
strategic partners such as IBM, QUALCOMM, Franklin Covey, Handspring and Symbol
Technologies. Designed to support the increasingly mobile and geographically
dispersed nature of information management, the company`s handheld solutions
allow people to carry their most critical information in their pockets.
According to IDC (May 1999), Palm Computing commands 68% of the worldwide market
for personal companies. For more information, please visit www.palm.com.
About pp.com
Established in October 1999, pp.com is Hong Kong`s first vertical portal
specially designed for the Asian property industry, delivering a unique one-stop
property solution. Headquartered in Hong Kong, pp.com has already established
operations in Beijing, Guangzhou and Shanghai, and has plans to open offices in
Singapore, Japan and Taiwan in the coming months. The site is not owned by a
developer or estate agency, so the information provided is neutral, accurate and
constantly updated. For more information please visit http://www.pp.com.
About Rediff
Founded in 1996, Rediff is the largest web-based online service in India. Its
service delivers news, information, free email, chat, personal home pages and
online shopping for books, music and hotel reservations to an audience in India
and Indians worldwide. The company is also the largest website builder in India
and builds high-end websites for customers in India and worldwide. Rediff has
been rated by CNN as one of the top 50 news-sites in the world. CNN also rated
it as the most preferred site for Indians worldwide. The company is privately
held, and is headquartered in Mumbai, India. Rediff has also filed for a Nasdaq
listing. The rediff.com website can be found at http://www.rediff.com/.
PCCW and SoftNet
The launch of Pacific Century SoftNet is part of a broader relationship between
SoftNet and PCCW. In January, the companies announced the completion of a
transaction in which PCCW paid $129 million for 5 million shares (approximately
23%) of SoftNet common stock. George Chan, Executive Vice President of Pacific
Century Group, was appointed to SoftNet`s board of directors. Pacific Century
Group expects to name a second board member later this year.
About SOHU.com
SOHU.com is China`s first and largest Web portal with daily page views of over
six million and registered email users of over 850,000. SOHU.com offers a
proprietary directory that has helped shape the searching habit of Mainland
Chinese. This powerful, Chinese-based search engine was created by Internet
Technologies China (ITC), a Beijing-based Internet start-up originally backed by
MIT professors and scholars. SOHU.com is a qualitatively derived classification
system that has been designed to match the particular cultural tendencies of the
Chinese user. Its classification hierarchy is divided into eighteen sections and
houses over two hundred thousand links. It is a user-friendly search guide that
also features a search engine. In addition to a free search service, Sohu.com
also provides 20 high quality branded content channels, free email, and BBS.
About Taste For Living
Taste For Living is an on-line health and wellness company, which originates
from the highly acclaimed Taste For Living Cookbook by Michael Milken. Their
primary mission is to enable people to educate themselves about nutrition and
nutrition`s role in cancer prevention. They are also committed to raising
general awareness of the importance of healthy lifestyles and allowing consumers
to make informed buying decisions about health and wellness related products and
services.
About 3Fusion
3Fusion (www.3fusion.com) was founded April 6, 1999 by two Principal Engineers
from Netscape Communications/AOL. The founders joined Netscape Communications in
January 1995 and were involved in leading the development of several successful
e-commerce products. To build an all-star technical team, the founders recruited
senior developers from various locations and companies. The founding team has
extensive experience in Unix, NT, database, distributed computing, e-commerce
and high traffic network infrastructure design and operations.
3Fusion developers have very innovative, scalable and fault tolerant technology.
3Fusion has received 1st round funding of US $8 million and is on track to roll
out its services in US and Asia for partners` beta trial during Q1, 2000.
About Tom.com
Launched in December last year, vertical portal tom.com is listed at Hong Kong`s
Growth Enterprise Market (GEM) on March 1, 2000. It aims to be a content
aggregator of China by developing information and entertainment-related
businesses serving global Chinese and mainland web users. tom.com is majority
owned by Cheung Kong (40%) and Hutchison (20%). Its partners include content
providers such as China Travel Network Co., China National Publications Import
and Export Corp., and the Chinese Academy of Science.
About TurboLinux
Founded in 1992, TurboLinux is the world`s fastest-growing Linux company with investment backing from more than 20 global hardware, software and services
companies, including BEA, Compaq, Dell, Intel, Fujitsu Support and Services, NEC, Novell, SCO and Toshiba. A market leader in Linux software clustering solutions
and Linux internationalization, the company`s high-performance consumer and business Linux products run on Intel, Alpha and PowerPC workstation and server
platforms and are supported globally by IBM, Hewlett-Packard and SCO. Headquartered in San Francisco, TurboLinux has offices in Beijing, Buenos Aires, Hamburg,
Sydney and Tokyo. The company`s home page is located on the Internet at www.turbolinux.com, in Japanese at www.turbolinux.co.jp and in Chinese at
www.turbolinux.com.cn.
About Weave Innovations
Started in 1998, Weave Innovations builds products and services that leverage the Internet to enhance the way people communicate with each other. The Weave
Innovations management team consists of experienced executives and engineers from storied Silicon Valley-based companies, such as Intel Corporation, Silicon
Graphics Inc., and Wink Communications
Wednesday April 5 8:12am
"The Powerize 50" for Week of April 3: Market Watchers Take "Wait & See" Approach
BusinessWire
RESTON, VA--(BUSINESS WIRE)--April 5, 2000--A lack of change from
last week`s Powerize 50 suggests uncertainty this week among market
watchers and business researchers, who seem to be taking a "wait and
see" approach to technology companies following Monday`s federal court
ruling against Microsoft. Only 11 new companies appear on the weekly
list of companies being watched by individual investors and business
researchers at www.powerize.com, which is derived by tracking the
search requests of more than 400,000 Powerize.com members.
39 companies carry over from last week`s Powerize 50, most of them
in the technology sector. Ariba holds onto the top spot for the fourth
straight week, while Microsoft slips to sixth. The balance of this
week`s top ten most searched-for companies: Cisco Systems (2), Lucent
Technologies (3), Dragon Systems (4), JDS Uniphase (5), Phone.com (7),
Coca-Cola (8), Cheap Tickets (9) and Qwest (10).
Given current market uncertainties, particularly in the
high-flying technology sector, next week`s Powerize 50 should prove
interesting.
*T
The Powerize 50 for Week of April 3, 2000
Rank Company Last Wk
1 Ariba 1
2 Cisco Systems 2
3 Lucent Technologies 8
4 Dragon Systems 4
5 JDS Uniphase 3
6 Microsoft 5
7 Phone.com 17
8 Coca-Cola 25
9 Cheap Tickets 26
10 Qwest 14
11 Puma Technology 31
12 EMC 20
13 Lernout & Hauspie 13
14 i2 Technologies 24
15 Commerce One 21
16 Pacific Century Cyberworks -
17 America Online 50
18 Amgen -
19 Corning 7
20 PeopleSoft -
21 Ciena 6
22 Solectron 22
23 Baan 35
24 Gilat 19
25 Optical Networks 10
26 SanDisk 48
27 Exodus Communications 39
28 IBM 42
29 ADC Telecommunications 9
30 Digital Lightwave 15
31 Oracle -
32 Veritas Software 44
33 Boeing 46
34 Sycamore Networks 12
35 NetSpeak 37
36 Corvis 11
37 Bell Atlantic 30
38 Nam Tai Electronics -
39 Ligand Pharmaceuticals -
40 Nuance Communications 33
41 DSL.net 27
42 Webvan -
43 Celestica 43
44 Nokia -
45 Covad Communications 18
46 Clarus -
47 Akamai Technologies 16
48 Albertson`s Inc. -
49 Bank One 49
50 Homegrocer.com -
*T
About Powerize.com
With content from more than 10,000 trusted information sources
worldwide, Powerize.com is a leading source for business and
investment research on the Web. Through a patent-pending business
model, Powerize.com offers its members free, unlimited access to
content from more than 2,400 of those sources, including brand-name
newspapers, magazines, trade journals, newswires and premium content
that has never before been available for free in one place on the
Internet.
Founded in January 1997, Powerize.com is headquartered in
Linthicum, Maryland. Its leading content partners include Bell &
Howell Information & Learning, BNA Inc., COMTEX News Network, EBSCO
Information, Gale Group, Market Guide, Phillips Publishing, Primark,
and Zacks Investment Research, among others.
*T
The Powerize 50 for Week of April 3, 2000
Contact: Company Contact: Press Contact:
Michael Gallagher Elliott Frieder
Senior Vice President Manning Selvage & Lee
Powerize.com Phone: 212.213.7245
Phone: 703.438.3500 ext.8111 Fax: 212.213.7101
Fax: 703.438.3550 efrieder@mslpr.com
mgallagher@powerize.com
http://www.zdii.com/industry_list.asp?mode=news&doc_id=BW2…
"The Powerize 50" for Week of April 3: Market Watchers Take "Wait & See" Approach
BusinessWire
RESTON, VA--(BUSINESS WIRE)--April 5, 2000--A lack of change from
last week`s Powerize 50 suggests uncertainty this week among market
watchers and business researchers, who seem to be taking a "wait and
see" approach to technology companies following Monday`s federal court
ruling against Microsoft. Only 11 new companies appear on the weekly
list of companies being watched by individual investors and business
researchers at www.powerize.com, which is derived by tracking the
search requests of more than 400,000 Powerize.com members.
39 companies carry over from last week`s Powerize 50, most of them
in the technology sector. Ariba holds onto the top spot for the fourth
straight week, while Microsoft slips to sixth. The balance of this
week`s top ten most searched-for companies: Cisco Systems (2), Lucent
Technologies (3), Dragon Systems (4), JDS Uniphase (5), Phone.com (7),
Coca-Cola (8), Cheap Tickets (9) and Qwest (10).
Given current market uncertainties, particularly in the
high-flying technology sector, next week`s Powerize 50 should prove
interesting.
*T
The Powerize 50 for Week of April 3, 2000
Rank Company Last Wk
1 Ariba 1
2 Cisco Systems 2
3 Lucent Technologies 8
4 Dragon Systems 4
5 JDS Uniphase 3
6 Microsoft 5
7 Phone.com 17
8 Coca-Cola 25
9 Cheap Tickets 26
10 Qwest 14
11 Puma Technology 31
12 EMC 20
13 Lernout & Hauspie 13
14 i2 Technologies 24
15 Commerce One 21
16 Pacific Century Cyberworks -
17 America Online 50
18 Amgen -
19 Corning 7
20 PeopleSoft -
21 Ciena 6
22 Solectron 22
23 Baan 35
24 Gilat 19
25 Optical Networks 10
26 SanDisk 48
27 Exodus Communications 39
28 IBM 42
29 ADC Telecommunications 9
30 Digital Lightwave 15
31 Oracle -
32 Veritas Software 44
33 Boeing 46
34 Sycamore Networks 12
35 NetSpeak 37
36 Corvis 11
37 Bell Atlantic 30
38 Nam Tai Electronics -
39 Ligand Pharmaceuticals -
40 Nuance Communications 33
41 DSL.net 27
42 Webvan -
43 Celestica 43
44 Nokia -
45 Covad Communications 18
46 Clarus -
47 Akamai Technologies 16
48 Albertson`s Inc. -
49 Bank One 49
50 Homegrocer.com -
*T
About Powerize.com
With content from more than 10,000 trusted information sources
worldwide, Powerize.com is a leading source for business and
investment research on the Web. Through a patent-pending business
model, Powerize.com offers its members free, unlimited access to
content from more than 2,400 of those sources, including brand-name
newspapers, magazines, trade journals, newswires and premium content
that has never before been available for free in one place on the
Internet.
Founded in January 1997, Powerize.com is headquartered in
Linthicum, Maryland. Its leading content partners include Bell &
Howell Information & Learning, BNA Inc., COMTEX News Network, EBSCO
Information, Gale Group, Market Guide, Phillips Publishing, Primark,
and Zacks Investment Research, among others.
*T
The Powerize 50 for Week of April 3, 2000
Contact: Company Contact: Press Contact:
Michael Gallagher Elliott Frieder
Senior Vice President Manning Selvage & Lee
Powerize.com Phone: 212.213.7245
Phone: 703.438.3500 ext.8111 Fax: 212.213.7101
Fax: 703.438.3550 efrieder@mslpr.com
mgallagher@powerize.com
http://www.zdii.com/industry_list.asp?mode=news&doc_id=BW2…
http://eng.stockhouse.com.hk/brokerage/apr00/cash_d_0406.asp…
Market Commentary
US tech stocks ended slightly higher last night amid selective bargain hunting. Nasdaq composite index
rebounded 20 points to 4,169. Meanwhile, blue chips DJIA weakened by 130 points to 11,033. Yahoo! [YHOO]
reported a better than expected 1Q00 results after market closed. We believe that this positive news would lessen
some of selling pressure in tech stocks. Profit taking dragged down the bond prices. The benchmark 30-year bond
yield rose slightly to 5.78%. HK stocks plunged again after the holiday. China Telecom [941], Cheung Kong [1],
Hutchison [13] and CWHKT [8] were all ended sharply lower. Funds were shifted to tradition shares like HSBC
[5] and Swire A [19]. The Hang Seng Index dropped 574 points to 16,318 with an increasing turnover of $16.3bn.
The Index has already broken the key technical support at 50-day MA. Combining with the increasing turnover,
we expect that the market would test the 16,000 support level in short term. Giant tech stocks such as PCCW
[1186], Hikari [603], Legend [992] and tom.com [8001] fell over 10% in another trading day. Although tech
stocks in US rebounded, we recommend bargain hunters should invest only on large tech stocks like PCCW and
Legend and avoid those second-tier tech stocks.
Market Commentary
US tech stocks ended slightly higher last night amid selective bargain hunting. Nasdaq composite index
rebounded 20 points to 4,169. Meanwhile, blue chips DJIA weakened by 130 points to 11,033. Yahoo! [YHOO]
reported a better than expected 1Q00 results after market closed. We believe that this positive news would lessen
some of selling pressure in tech stocks. Profit taking dragged down the bond prices. The benchmark 30-year bond
yield rose slightly to 5.78%. HK stocks plunged again after the holiday. China Telecom [941], Cheung Kong [1],
Hutchison [13] and CWHKT [8] were all ended sharply lower. Funds were shifted to tradition shares like HSBC
[5] and Swire A [19]. The Hang Seng Index dropped 574 points to 16,318 with an increasing turnover of $16.3bn.
The Index has already broken the key technical support at 50-day MA. Combining with the increasing turnover,
we expect that the market would test the 16,000 support level in short term. Giant tech stocks such as PCCW
[1186], Hikari [603], Legend [992] and tom.com [8001] fell over 10% in another trading day. Although tech
stocks in US rebounded, we recommend bargain hunters should invest only on large tech stocks like PCCW and
Legend and avoid those second-tier tech stocks.
The Iconoclast:
Back to the Dream
By Hugo Restall
04/05/2000
The Asian Wall Street Journal
HONG KONG -- If you don`t understand the Internet game, take a
crash course by tracking the trajectory of Pacific Century CyberWorks,
Asia`s new $62 billion (but now shrinking) telecom and Internet play.
Because the company is moving so fast, it gives us hints of how the
whole industry will play out, and it is now hitting a very interesting stage.
PCCW started out 11 months ago with a dream, "broadband." That`s just
a fancy term for faster Internet access, so fast you can summon up your
own private showing of a movie, for instance. It makes possible
"convergence," providing many different kinds of entertainment and
information through one handy conduit.
There`s no doubt that all of this is coming down the pike. The question is
when, and how the costs and revenues will be worked out. Get in too
early, or too late or with the wrong model and you`re history.
PCCW had the audacity to bet it could make broadband a reality in Asia
not far behind the U.S., the hot core of the Internet. And it wanted to
serve markets like China and India which are not even close to saturated
with the old, slow flavor of Internet.
Investors liked this risk, however, and quickly signed on to the dream.
They realized that if PCCW `s bet proves correct, the company could
end up a dominant player across Asia at the same moment consumers
decide to shell out serious money for broadband service. In the U.S.
people are paying $50 a month, and companies can`t roll out the capacity
fast enough to meet demand.
That`s a pretty good business, but it`s not enough. To really rake in
profits, you can`t just provide the pipe, you`ve got to capture some of the
value of the content running through it. So right from the beginning
PCCW made investments in and partnerships with a variety of
companies that will provide that content. Last week it even bought the
rights to broadcast Indian cricket matches.
But somewhere along the line, the broadband vision got lost in the hype
over the acquisitions and investments. PCCW became, in investors` eyes
at least, an incubator like Japan`s SoftBank or Hong Kong`s
Chinadotcom, using the leverage of a high share price to buy into other
companies. The increase in their value made PCCW `s portfolio more
valuable, which in turn pushed its shares higher.
This kind of mutually reinforcing cycle of added value is arguably a
defining feature of the Internet age. It`s not necessarily a Ponzi scheme,
but like one it sooner or later runs into limitations based on size. As the
investing company grows, the deals have to get bigger and bigger to fuel
the spectacular rise in its share price that makes investors suspend their
common sense. Good deals become harder to find. Meanwhile the cycle
throws more money into start-ups than can be justified by future needs, a
trend that becomes impossible for market watchers to ignore.
Once begun, does such a cycle have to end in tears? Not necessarily.
Companies with inflated share prices have the choice to break out of the
cycle and invest in some proven assets that they can use to pursue their
vision. America Online did so with Time Warner. And now it seems,
PCCW hopes to do the same by buying Hong Kong Telecom for $38
billion, financed by $12 billion in loans and its own stock.
In the short term, breaking the addiction to the easy money is difficult --
PCCW `s stock is down by more than a third from its peak. But if the
broadband dream is still alive, HKT is a key asset. It has actual
experience running a broadband network, albeit one that remained small
because it was born before demand and content were in place.
That expertise is helping PCCW to push up the launch date of its
"Network of the World" system to mid-year. After that it will be judged
on how well it is delivering on its original bet.
As the reckoning approaches, some tough questions that have been
pushed to the background are relevant again. For instance, how many
Asian consumers care enough about broadband to subscribe? Will the
cost of the hardware come down further? How much competition will
regulators allow? What will viewers and advertisers pay for quality
content when they have much wider choices?
After a year or so these questions will have some preliminary answers,
which in turn will lead to a verdict on PCCW . That`s a lot sooner than
the average Internet company in the U.S. is being asked to face the
music. PCCW `s arc through the Internet firmament has been so steep
that if it keeps up the pace it could offer a glimpse of what lies ahead for
others.
So far most of the Internet is still in the "land grab" stage. Ambition is
rewarded whether or not there is the management expertise to
"execute." Alliances are forged endlessly since there is little sense of
competition for profits, only the need to maintain a high profile to build
brand awareness.
The recent stock rout may mean this strange grace period is coming to
an end. Like PCCW , companies will have to focus on a core vision.
Many dreams have been lost in the hype, but the sooner investors go
back to them and evaluate them properly, the better their chances of
success. PCCW still contains plenty of risk, but it`s pointing the way
forward.
Back to the Dream
By Hugo Restall
04/05/2000
The Asian Wall Street Journal
HONG KONG -- If you don`t understand the Internet game, take a
crash course by tracking the trajectory of Pacific Century CyberWorks,
Asia`s new $62 billion (but now shrinking) telecom and Internet play.
Because the company is moving so fast, it gives us hints of how the
whole industry will play out, and it is now hitting a very interesting stage.
PCCW started out 11 months ago with a dream, "broadband." That`s just
a fancy term for faster Internet access, so fast you can summon up your
own private showing of a movie, for instance. It makes possible
"convergence," providing many different kinds of entertainment and
information through one handy conduit.
There`s no doubt that all of this is coming down the pike. The question is
when, and how the costs and revenues will be worked out. Get in too
early, or too late or with the wrong model and you`re history.
PCCW had the audacity to bet it could make broadband a reality in Asia
not far behind the U.S., the hot core of the Internet. And it wanted to
serve markets like China and India which are not even close to saturated
with the old, slow flavor of Internet.
Investors liked this risk, however, and quickly signed on to the dream.
They realized that if PCCW `s bet proves correct, the company could
end up a dominant player across Asia at the same moment consumers
decide to shell out serious money for broadband service. In the U.S.
people are paying $50 a month, and companies can`t roll out the capacity
fast enough to meet demand.
That`s a pretty good business, but it`s not enough. To really rake in
profits, you can`t just provide the pipe, you`ve got to capture some of the
value of the content running through it. So right from the beginning
PCCW made investments in and partnerships with a variety of
companies that will provide that content. Last week it even bought the
rights to broadcast Indian cricket matches.
But somewhere along the line, the broadband vision got lost in the hype
over the acquisitions and investments. PCCW became, in investors` eyes
at least, an incubator like Japan`s SoftBank or Hong Kong`s
Chinadotcom, using the leverage of a high share price to buy into other
companies. The increase in their value made PCCW `s portfolio more
valuable, which in turn pushed its shares higher.
This kind of mutually reinforcing cycle of added value is arguably a
defining feature of the Internet age. It`s not necessarily a Ponzi scheme,
but like one it sooner or later runs into limitations based on size. As the
investing company grows, the deals have to get bigger and bigger to fuel
the spectacular rise in its share price that makes investors suspend their
common sense. Good deals become harder to find. Meanwhile the cycle
throws more money into start-ups than can be justified by future needs, a
trend that becomes impossible for market watchers to ignore.
Once begun, does such a cycle have to end in tears? Not necessarily.
Companies with inflated share prices have the choice to break out of the
cycle and invest in some proven assets that they can use to pursue their
vision. America Online did so with Time Warner. And now it seems,
PCCW hopes to do the same by buying Hong Kong Telecom for $38
billion, financed by $12 billion in loans and its own stock.
In the short term, breaking the addiction to the easy money is difficult --
PCCW `s stock is down by more than a third from its peak. But if the
broadband dream is still alive, HKT is a key asset. It has actual
experience running a broadband network, albeit one that remained small
because it was born before demand and content were in place.
That expertise is helping PCCW to push up the launch date of its
"Network of the World" system to mid-year. After that it will be judged
on how well it is delivering on its original bet.
As the reckoning approaches, some tough questions that have been
pushed to the background are relevant again. For instance, how many
Asian consumers care enough about broadband to subscribe? Will the
cost of the hardware come down further? How much competition will
regulators allow? What will viewers and advertisers pay for quality
content when they have much wider choices?
After a year or so these questions will have some preliminary answers,
which in turn will lead to a verdict on PCCW . That`s a lot sooner than
the average Internet company in the U.S. is being asked to face the
music. PCCW `s arc through the Internet firmament has been so steep
that if it keeps up the pace it could offer a glimpse of what lies ahead for
others.
So far most of the Internet is still in the "land grab" stage. Ambition is
rewarded whether or not there is the management expertise to
"execute." Alliances are forged endlessly since there is little sense of
competition for profits, only the need to maintain a high profile to build
brand awareness.
The recent stock rout may mean this strange grace period is coming to
an end. Like PCCW , companies will have to focus on a core vision.
Many dreams have been lost in the hype, but the sooner investors go
back to them and evaluate them properly, the better their chances of
success. PCCW still contains plenty of risk, but it`s pointing the way
forward.
12:00 12-APR-2000
UPDATE 2-PCCW <1186.HK> to detail Telstra plan
(Adds PCCW news conference, trade suspensions,
HK/Sydney analysts) By Karen Richardson HONG
KONG, April 12 (Reuters) - Dominant Hong Kong
Internet firm Pacific Century CyberWorks (PCCW),
strengthening its Asian alliances, will announce partnership plans on Wednesday with
Australian telecom giant Telstra Corp Ltd .
Trading in PCCW and Singapore-listed parent Pacific Century Regional Developments Ltd
was suspended on Wednesday pending an announcement of the potential partnership.
Telstra was also suspended.
PCCW said it would hold a news conference at 1600 local time (0800 GMT) on a
"significant" telecommunications joint venture with an international partner.
A PCCW spokeswoman declined to say whether the news conference would focus on the
Telstra talks, but earlier PCCW said it would announce details on its Telstra plans on
Wednesday.
PCCW said Chairman Richard Li, the 33-year-old son of Hong Kong property tycoon Li
Ka-shing, would make an announcement and answer questions at the news conference
regarding "a significant joint venture impacting global telecommunications".
In Sydney, Telstra said it was in advanced talks with PCCW on an Asia-Pacific alliance
and the key feature would be pooling regional assets and cash in joint ventures.
But Telstra said any deal was conditional on PCCW completing its bid for Hong Kong`s
biggest telecommunications company, Cable & Wireless HKT <0008.HK>.
The bid valued C&W HKT at up to US$38.1 billion, making it Asia`s largest ever merger
deal. Peter Milliken, telecom analyst at Lehman Brothers in Hong Kong, said of the Telstra
news: "The best thing about this whole deal is PCCW ends up with a substantial amount of
cash, which will reduce its massive interest burden post-HKT merger." The Australian
Financial Review newspaper said on Wednesday that Telstra planned to form a strategic
alliance with PCCW worth up to A$5 billion (US$2.98 billion).
In an unsourced report, the newspaper said Telstra would subscribe US$1.5 billion to a
PCCW convertible note as part of the deal, paying the balance in cash. The newspaper
said Telstra had been negotiating for several weeks with PCCW and had originally hoped
to be involved in the C&W HKT merger.
An Australian telecommunications analyst, who declined to be named, said: "Strategically
it`s important that they (Telstra) can make this sort of move to diversify beyond the
Australian market where they are constrained in a commercial sense." PCCW closed down
HK$.30 on Tuesday at HK$15.40.
Before being suspended on Wednesday, Telstra was trading at A$7.64, up 1.6 percent
from Tuesday`s close of A$7.52.
UPDATE 2-PCCW <1186.HK> to detail Telstra plan
(Adds PCCW news conference, trade suspensions,
HK/Sydney analysts) By Karen Richardson HONG
KONG, April 12 (Reuters) - Dominant Hong Kong
Internet firm Pacific Century CyberWorks (PCCW),
strengthening its Asian alliances, will announce partnership plans on Wednesday with
Australian telecom giant Telstra Corp Ltd .
Trading in PCCW and Singapore-listed parent Pacific Century Regional Developments Ltd
was suspended on Wednesday pending an announcement of the potential partnership.
Telstra was also suspended.
PCCW said it would hold a news conference at 1600 local time (0800 GMT) on a
"significant" telecommunications joint venture with an international partner.
A PCCW spokeswoman declined to say whether the news conference would focus on the
Telstra talks, but earlier PCCW said it would announce details on its Telstra plans on
Wednesday.
PCCW said Chairman Richard Li, the 33-year-old son of Hong Kong property tycoon Li
Ka-shing, would make an announcement and answer questions at the news conference
regarding "a significant joint venture impacting global telecommunications".
In Sydney, Telstra said it was in advanced talks with PCCW on an Asia-Pacific alliance
and the key feature would be pooling regional assets and cash in joint ventures.
But Telstra said any deal was conditional on PCCW completing its bid for Hong Kong`s
biggest telecommunications company, Cable & Wireless HKT <0008.HK>.
The bid valued C&W HKT at up to US$38.1 billion, making it Asia`s largest ever merger
deal. Peter Milliken, telecom analyst at Lehman Brothers in Hong Kong, said of the Telstra
news: "The best thing about this whole deal is PCCW ends up with a substantial amount of
cash, which will reduce its massive interest burden post-HKT merger." The Australian
Financial Review newspaper said on Wednesday that Telstra planned to form a strategic
alliance with PCCW worth up to A$5 billion (US$2.98 billion).
In an unsourced report, the newspaper said Telstra would subscribe US$1.5 billion to a
PCCW convertible note as part of the deal, paying the balance in cash. The newspaper
said Telstra had been negotiating for several weeks with PCCW and had originally hoped
to be involved in the C&W HKT merger.
An Australian telecommunications analyst, who declined to be named, said: "Strategically
it`s important that they (Telstra) can make this sort of move to diversify beyond the
Australian market where they are constrained in a commercial sense." PCCW closed down
HK$.30 on Tuesday at HK$15.40.
Before being suspended on Wednesday, Telstra was trading at A$7.64, up 1.6 percent
from Tuesday`s close of A$7.52.
PCCW <1186.HK> suspends trade pending announcement
04/11/00
HONG KONG, April 12 (Reuters) - Pacific Century CyberWorks, in talks with Australian
telecoms giant Telstra Corp , suspended trade in its shares before the opening bell on
Wednesday pending an announcement in relation to a potential partnership.
PCCW issued a trade suspension statement through the Hong Kong stock exchange.
Earlier, PCCW said it was in talks with Australian telecom group Telstra Corp and would
issue a detailed announcement later on Wednesday.
Telstra confirmed it was in advanced talks with the Hong
Kong Internet company over regional alliances, adding any
deal was conditional on PCCW`s completion of its multibillion
U.S. dollar bid for telecom firm Cable & Wireless HKT
<0008.HK>.
REUTERS
04/11/00
HONG KONG, April 12 (Reuters) - Pacific Century CyberWorks, in talks with Australian
telecoms giant Telstra Corp , suspended trade in its shares before the opening bell on
Wednesday pending an announcement in relation to a potential partnership.
PCCW issued a trade suspension statement through the Hong Kong stock exchange.
Earlier, PCCW said it was in talks with Australian telecom group Telstra Corp and would
issue a detailed announcement later on Wednesday.
Telstra confirmed it was in advanced talks with the Hong
Kong Internet company over regional alliances, adding any
deal was conditional on PCCW`s completion of its multibillion
U.S. dollar bid for telecom firm Cable & Wireless HKT
<0008.HK>.
REUTERS
Telestra Aims for Asia Alliance
23:01EDT 04/11/00
SYDNEY, Australia (AP) -- Telstra Corp. announced Wednesday it is in an advanced stage
of preparing a memorandum of understanding with Hong Kong`s Pacific Century CyberWorks
to form an Asia-Pacific telecom alliance.
The deal would be Telstra`s most significant expansion into Asia and would give it new
growth options outside the highly competitive Australian telecom market.
Pacific Century CyberWorks, which aims to use its satellite technology to become the main
broadband Internet service provider in Asia, is a unit of Pacific Century Regional Development
of Singapore.
Australian newspaper The Financial Review reported Wednesday Telstra was preparing an
Asian alliance worth $3 billion.
"The fact that they are in talks with Cyberworks in Asia shows that Telstra is now in a
position where they realize there are advantages in trying to build their business beyond the
boundaries of Australia,`` Jamie Spiteri, broker with Shaw Stockbroking Ltd. in Sydney said.
Pacific Century CyberWorks, run by billionaire Li Ka-shing`s son Richard Li, announced last
month it would buy Hong Kong`s leading telecom company, Cable & Wireless HKT, either by
paying $38.1 billion in stock or $35.9 billion in a combination of cash and stock.
Li`s Internet investment group is less than a year old and has yet to turn a profit, yet it
managed to arrange billions in loans that will enable it to virtually double in size by
purchasing the phone company.
23:01EDT 04/11/00
SYDNEY, Australia (AP) -- Telstra Corp. announced Wednesday it is in an advanced stage
of preparing a memorandum of understanding with Hong Kong`s Pacific Century CyberWorks
to form an Asia-Pacific telecom alliance.
The deal would be Telstra`s most significant expansion into Asia and would give it new
growth options outside the highly competitive Australian telecom market.
Pacific Century CyberWorks, which aims to use its satellite technology to become the main
broadband Internet service provider in Asia, is a unit of Pacific Century Regional Development
of Singapore.
Australian newspaper The Financial Review reported Wednesday Telstra was preparing an
Asian alliance worth $3 billion.
"The fact that they are in talks with Cyberworks in Asia shows that Telstra is now in a
position where they realize there are advantages in trying to build their business beyond the
boundaries of Australia,`` Jamie Spiteri, broker with Shaw Stockbroking Ltd. in Sydney said.
Pacific Century CyberWorks, run by billionaire Li Ka-shing`s son Richard Li, announced last
month it would buy Hong Kong`s leading telecom company, Cable & Wireless HKT, either by
paying $38.1 billion in stock or $35.9 billion in a combination of cash and stock.
Li`s Internet investment group is less than a year old and has yet to turn a profit, yet it
managed to arrange billions in loans that will enable it to virtually double in size by
purchasing the phone company.
Telstra stages $5bn fightback
By KEVIN MORRISON
Telstra has made its biggest overseas foray with a $5 billion deal to
create an Asian region mobile and data business with Hong Kong
entrepreneur Mr Richard Li`s Internet and telephony group, Pacific
Century CyberWorks.
Telstra will invest $US1.5 billion ($2.5 billion) in the one-year-old
CyberWorks to help finance its US$38 billion takeover of Cable &
Wireless HKT, the incumbent telecommunications carrier of Hong
Kong.
But the deal leaves Telstra with no management control.
"That $US1.5 billion is the price we had to pay for the relationship,
which we are comfortable with," said Mr Paul Rizzo, Telstra group
managing director of finance.
Another $US1.5 billion will be invested by Telstra to take 40 per cent
of the newly created mobile company, the main asset of which is the
$US4 billion mobile business of C&W HKT, the second largest
mobile operator in HK
It also has a 15 per cent stake in Singapore mobile operator
MobileOne.
The new alliance depends on the C&W HKT takeover - which is
subject to regulatory approval and for which CyberWorks has not
confirmed that it has secured financing - going ahead
Telstra chief executive Mr Ziggy Switkowski said the mobile
business would go to an initial public share offering as soon as
possible.
It would also float the data business. This includes the undersea
cable assets of the two groups and has revenues of $US1.5 billion a
year. But he would not comment on how much would be raised from
any future floats.
Mr Ted Pretty, group managing director of Telstra`s convergent
business, said that the two companies may float off other regional
focused companies that looked at e-commerce related services. "We
are looking at creating several entities that we can possibly IPO
(initial public offer)," Mr Pretty said.
Telstra will pool its other Asian mobile businesses, these include
mobile licences in India, Singapore and Sri Lanka and potentially
Thai mobile operator Total Access in which Telstra is currently in
merger talks.
However, none of Telstra`s Australian assets are included in the
deals.
CyberWorks chairman Mr Richard Li said Telstra could add another
$US1 billion of mobile assets into the joint venture. However, Mr
Dick Simpson, group managing director of Telstra mobile operations,
said that if Telstra added more assets into the new company it would
reduce the amount of cash it would have to pay for its stake.
"To say that you are going to be a pan Asian operator and to think
you are going to do it 100 per cent by yourself I don`t think that is
what the world of our business is all about any more," said Telstra
chairman Mr Bob Mansfield.
"Relationships and strategic alliances like this are fundamental," Mr
Mansfield said.
Telstra will also have the opportunity to "equalise" its interest in the
mobile business to the same interest as CyberWorks, although
Telstra executive would not confirm if Telstra had the first right of
refusal over CyberWorks`s 60 per cent stake in the mobile venture.
CyberWorks also has the option to sell down its interest by 9.9 per
cent to another strategic Asian mobile operator.
Mr Rizzo said Telstra`s investment would be funded mainly by debt,
but would still keep Telstra under the 50 per cent debt to equity ratio.
The deal was well anticipated by the market with Telstra up 12c to
$7.64 ahead of a trading halt , while the instalment receipts finished
13c up at $4.67.
"This deal gives them a look into a growing area. It helps them to
become more of a regional player rather than one just focused on
Australia," said Dr Don Hamson, investment director at Westpac
Financial Services.
"Their market share in Australia is being eroded and hopefully
expanding into Asia is a way of offsetting that. The deal doesn`t
seem that expensive compared some European valuations," Dr
Hamson said.
Telecommunications analysts said that Telstra had been under
pressure from the market to come up with a deal that appeased
investor sentiment that Telstra was slipping behind competitors in
outlining its Internet and mobile strategy.
Telstra also announced yesterday that it would invest an additional
$350 million in upgrading the copper wire network in Australia.
By KEVIN MORRISON
Telstra has made its biggest overseas foray with a $5 billion deal to
create an Asian region mobile and data business with Hong Kong
entrepreneur Mr Richard Li`s Internet and telephony group, Pacific
Century CyberWorks.
Telstra will invest $US1.5 billion ($2.5 billion) in the one-year-old
CyberWorks to help finance its US$38 billion takeover of Cable &
Wireless HKT, the incumbent telecommunications carrier of Hong
Kong.
But the deal leaves Telstra with no management control.
"That $US1.5 billion is the price we had to pay for the relationship,
which we are comfortable with," said Mr Paul Rizzo, Telstra group
managing director of finance.
Another $US1.5 billion will be invested by Telstra to take 40 per cent
of the newly created mobile company, the main asset of which is the
$US4 billion mobile business of C&W HKT, the second largest
mobile operator in HK
It also has a 15 per cent stake in Singapore mobile operator
MobileOne.
The new alliance depends on the C&W HKT takeover - which is
subject to regulatory approval and for which CyberWorks has not
confirmed that it has secured financing - going ahead
Telstra chief executive Mr Ziggy Switkowski said the mobile
business would go to an initial public share offering as soon as
possible.
It would also float the data business. This includes the undersea
cable assets of the two groups and has revenues of $US1.5 billion a
year. But he would not comment on how much would be raised from
any future floats.
Mr Ted Pretty, group managing director of Telstra`s convergent
business, said that the two companies may float off other regional
focused companies that looked at e-commerce related services. "We
are looking at creating several entities that we can possibly IPO
(initial public offer)," Mr Pretty said.
Telstra will pool its other Asian mobile businesses, these include
mobile licences in India, Singapore and Sri Lanka and potentially
Thai mobile operator Total Access in which Telstra is currently in
merger talks.
However, none of Telstra`s Australian assets are included in the
deals.
CyberWorks chairman Mr Richard Li said Telstra could add another
$US1 billion of mobile assets into the joint venture. However, Mr
Dick Simpson, group managing director of Telstra mobile operations,
said that if Telstra added more assets into the new company it would
reduce the amount of cash it would have to pay for its stake.
"To say that you are going to be a pan Asian operator and to think
you are going to do it 100 per cent by yourself I don`t think that is
what the world of our business is all about any more," said Telstra
chairman Mr Bob Mansfield.
"Relationships and strategic alliances like this are fundamental," Mr
Mansfield said.
Telstra will also have the opportunity to "equalise" its interest in the
mobile business to the same interest as CyberWorks, although
Telstra executive would not confirm if Telstra had the first right of
refusal over CyberWorks`s 60 per cent stake in the mobile venture.
CyberWorks also has the option to sell down its interest by 9.9 per
cent to another strategic Asian mobile operator.
Mr Rizzo said Telstra`s investment would be funded mainly by debt,
but would still keep Telstra under the 50 per cent debt to equity ratio.
The deal was well anticipated by the market with Telstra up 12c to
$7.64 ahead of a trading halt , while the instalment receipts finished
13c up at $4.67.
"This deal gives them a look into a growing area. It helps them to
become more of a regional player rather than one just focused on
Australia," said Dr Don Hamson, investment director at Westpac
Financial Services.
"Their market share in Australia is being eroded and hopefully
expanding into Asia is a way of offsetting that. The deal doesn`t
seem that expensive compared some European valuations," Dr
Hamson said.
Telecommunications analysts said that Telstra had been under
pressure from the market to come up with a deal that appeased
investor sentiment that Telstra was slipping behind competitors in
outlining its Internet and mobile strategy.
Telstra also announced yesterday that it would invest an additional
$350 million in upgrading the copper wire network in Australia.
Thursday, April 13, 2000
HKT deal remains asset stripping by any other name
SIMON PRITCHARD
--------------------------------------------------------------------------------
What to do if you are a high-flying Internet concept company showing fat returns on little invested capital that suddenly buys a big, ugly telecoms company using
almost US$12 billion of debt?
The obvious answer is to find a partner who buys into your concept and pre-sell standalone assets of the telecoms firm while market conditions are still
favourable.
For Pacific Century CyberWorks, which only a month ago swore it would not flog off the Cable & Wireless HKT silver, yesterday`s deal looks devilishly cheeky.
Certainly, CyberWorks chairman Richard Li Tzar-kai can claim the creation of two new companies to pursue the international submarine cable and mobile
businesses as an expansion rather than sell-out. But an asset-strip is still an asset-strip by any other name.
Events conspired in Mr Li`s favour to put HKT within his grasp. Since then, CyberWorks` share price has fallen 40 per cent from its February high and, with
Nasdaq stocks seemingly entering a cyclical bear market, the risk of a downward spiral remains real.
Yet, few analysts seriously see the deal unravelling. No other telecoms company has shown its hand and, given the political overtones, Mr Li appeared to have
HKT shareholders locked into a deal.
Indeed, despite the US stock sell-off, financing conditions have actually improved with yields in the middle of the US Treasury curve softening.
So why sell out to Telstra? The disingenuous answer for Telstra was that it was desperate to secure new growth opportunities.
For Mr Li, it was perhaps a matter of the Hong Kong trader realising it was possible. Spinning off separate units and taking dividend income to the parent
company is vintage Hutchison Whampoa behaviour and typical of Asian business practice.
It does, however, run utterly contrary to the merger process taking place among global telcos. When did you last see a serious player spin off separate
divisions? They don`t, because value lies in consolidated control of cash flows increasingly dependent on bundling and cross-selling.
That said, the deal hugely favours CyberWorks. Telstra will pay US$1.5 billion and inject Sri Lankan mobile assets into a joint venture that looks fully valued.
HKT is to inject its CSL service and effective 15 per cent stake in Singapore firm MobileOne. At an expensive valuation of US$4,000 to US$5,000 per
subscriber, there looks to be little upside for IPO investors.
Given that the two firms are combining their submarine cables and facilities management to run Internet backbone services, the more relevant question might
be, why did CyberWorks not bid for HKT`s parent C&W outright?
The deal provides CyberWorks with US$3 billion, including US$1.5billion convertible loan notes, exercisable by Telstra into CyberWorks shares at HK$19.42.
As one wag noted, ``that is just high enough to give Richard face``.us100
All up, this looks a deeply defensive transaction at a time when CyberWorks` investments in pre-IPO Internet start-ups look a shaky strategy.
How much of the US$1 billion paper profits announced last month remain is unclear. Given that the sum represents more than a year`s debt interest payments,
the dash to asset-strip certainly makes sense.
At the same time, doubts over its satellite-delivered broadband business have been growing. On Tuesday, the mainland`s Great Wall Technology announced it
was quitting a satellite-delivered broadband venture and would focus on a land-based solution.
The reason its executives gave was doubts over the commercial and political viability of delivering Internet services by satellite in the mainland.
It may be no coincidence that CyberWorks is increasingly talking about the potential of the Indian market.
http://www.scmp.com/News/Business/Article/FullText_asp_Art…
HKT deal remains asset stripping by any other name
SIMON PRITCHARD
--------------------------------------------------------------------------------
What to do if you are a high-flying Internet concept company showing fat returns on little invested capital that suddenly buys a big, ugly telecoms company using
almost US$12 billion of debt?
The obvious answer is to find a partner who buys into your concept and pre-sell standalone assets of the telecoms firm while market conditions are still
favourable.
For Pacific Century CyberWorks, which only a month ago swore it would not flog off the Cable & Wireless HKT silver, yesterday`s deal looks devilishly cheeky.
Certainly, CyberWorks chairman Richard Li Tzar-kai can claim the creation of two new companies to pursue the international submarine cable and mobile
businesses as an expansion rather than sell-out. But an asset-strip is still an asset-strip by any other name.
Events conspired in Mr Li`s favour to put HKT within his grasp. Since then, CyberWorks` share price has fallen 40 per cent from its February high and, with
Nasdaq stocks seemingly entering a cyclical bear market, the risk of a downward spiral remains real.
Yet, few analysts seriously see the deal unravelling. No other telecoms company has shown its hand and, given the political overtones, Mr Li appeared to have
HKT shareholders locked into a deal.
Indeed, despite the US stock sell-off, financing conditions have actually improved with yields in the middle of the US Treasury curve softening.
So why sell out to Telstra? The disingenuous answer for Telstra was that it was desperate to secure new growth opportunities.
For Mr Li, it was perhaps a matter of the Hong Kong trader realising it was possible. Spinning off separate units and taking dividend income to the parent
company is vintage Hutchison Whampoa behaviour and typical of Asian business practice.
It does, however, run utterly contrary to the merger process taking place among global telcos. When did you last see a serious player spin off separate
divisions? They don`t, because value lies in consolidated control of cash flows increasingly dependent on bundling and cross-selling.
That said, the deal hugely favours CyberWorks. Telstra will pay US$1.5 billion and inject Sri Lankan mobile assets into a joint venture that looks fully valued.
HKT is to inject its CSL service and effective 15 per cent stake in Singapore firm MobileOne. At an expensive valuation of US$4,000 to US$5,000 per
subscriber, there looks to be little upside for IPO investors.
Given that the two firms are combining their submarine cables and facilities management to run Internet backbone services, the more relevant question might
be, why did CyberWorks not bid for HKT`s parent C&W outright?
The deal provides CyberWorks with US$3 billion, including US$1.5billion convertible loan notes, exercisable by Telstra into CyberWorks shares at HK$19.42.
As one wag noted, ``that is just high enough to give Richard face``.us100
All up, this looks a deeply defensive transaction at a time when CyberWorks` investments in pre-IPO Internet start-ups look a shaky strategy.
How much of the US$1 billion paper profits announced last month remain is unclear. Given that the sum represents more than a year`s debt interest payments,
the dash to asset-strip certainly makes sense.
At the same time, doubts over its satellite-delivered broadband business have been growing. On Tuesday, the mainland`s Great Wall Technology announced it
was quitting a satellite-delivered broadband venture and would focus on a land-based solution.
The reason its executives gave was doubts over the commercial and political viability of delivering Internet services by satellite in the mainland.
It may be no coincidence that CyberWorks is increasingly talking about the potential of the Indian market.
http://www.scmp.com/News/Business/Article/FullText_asp_Art…
Thursday, April 13, 2000
Telstra deal lifts stocks
SUZANNE HARRISON
--------------------------------------------------------------------------------
A surge in Cable & Wireless HKT following news of a joint venture between Pacific Century CyberWorks set to merge with HKT and Australia`s Telstra Corp
took blue chips to a stronger close yesterday.
The Hang Seng Index finished 89.43 points, or 0.54 per cent, firmer at 16,577.09, having earlier moved down to a low of 16,267.72.
Turnover improved to HK$11.69 billion from Tuesday`s $9.47 billion.
Analysts said the Telstra deal was very positive for CyberWorks` merger with HKT.
``It`s a way of financing the Cable & Wireless deal,`` Deutsche Securities research head Archie Hart said.
``It`s obviously a positive for CyberWorks` stock.``
Telstra said it would buy US$1.5 billion of notes convertible into CyberWorks shares, representing about 2 per cent of the Hong Kong firm (Stock Split, Page
12).
Telstra would also be investing an additional US$1.5 billion in the mobile telephone business of HKT.
HKT finished 13.66 per cent higher at HK$20.80.
``I think one of the worries was that the debt level, once they (CyberWorks) bought HKT, would be high, but after [yesterday`s] deal, with all the cash they have in
the two groups (Telstra and HKT), you`re going to see the gearing level come down,`` SG Securities research head Philip Mok said.
ING Barings dealing desk head Warren Primhak said of the deal: ``People want to see CyberWorks` debt ratio going down so it`s going to be very favourable.``
CyberWorks shares are expected to perform strongly today. The counter was suspended yesterday, having finished trade at $15.40 on Tuesday.
CyberWorks has fallen in recent weeks amid a global downturn in high-technology plays.
Technology counter and leading benchmark member China Telecom restricted the Hang Seng Index`s gains, slumping 2.72 per cent to $62.50 after falling
5.16 per cent on Tuesday.
China Telecom will release its annual results today and while many analysts expect strong earnings of up to 11.2 billion yuan (about HK$10.47 billion), there
were market rumours of an eight billion yuan write-off for outdated analogue network equipment. The technology-heavy Nasdaq market had fallen 3.15 per cent
on Tuesday, following heavy losses on Monday.
VTech dropped 2.63 per cent to $36.90, while Computer and Technologies fell 6.85 per cent to $12.90 and Johnson Electric slipped 0.42 per cent to $59.
However, a select few stayed on top as buying into the technology sector was far from over, brokers said.
``I don`t think the tech fever has gone away, I just think people are more selective ... I think this is good for the market that we`ve seen this correction,`` Mr Mok
said.
Telstra deal lifts stocks
SUZANNE HARRISON
--------------------------------------------------------------------------------
A surge in Cable & Wireless HKT following news of a joint venture between Pacific Century CyberWorks set to merge with HKT and Australia`s Telstra Corp
took blue chips to a stronger close yesterday.
The Hang Seng Index finished 89.43 points, or 0.54 per cent, firmer at 16,577.09, having earlier moved down to a low of 16,267.72.
Turnover improved to HK$11.69 billion from Tuesday`s $9.47 billion.
Analysts said the Telstra deal was very positive for CyberWorks` merger with HKT.
``It`s a way of financing the Cable & Wireless deal,`` Deutsche Securities research head Archie Hart said.
``It`s obviously a positive for CyberWorks` stock.``
Telstra said it would buy US$1.5 billion of notes convertible into CyberWorks shares, representing about 2 per cent of the Hong Kong firm (Stock Split, Page
12).
Telstra would also be investing an additional US$1.5 billion in the mobile telephone business of HKT.
HKT finished 13.66 per cent higher at HK$20.80.
``I think one of the worries was that the debt level, once they (CyberWorks) bought HKT, would be high, but after [yesterday`s] deal, with all the cash they have in
the two groups (Telstra and HKT), you`re going to see the gearing level come down,`` SG Securities research head Philip Mok said.
ING Barings dealing desk head Warren Primhak said of the deal: ``People want to see CyberWorks` debt ratio going down so it`s going to be very favourable.``
CyberWorks shares are expected to perform strongly today. The counter was suspended yesterday, having finished trade at $15.40 on Tuesday.
CyberWorks has fallen in recent weeks amid a global downturn in high-technology plays.
Technology counter and leading benchmark member China Telecom restricted the Hang Seng Index`s gains, slumping 2.72 per cent to $62.50 after falling
5.16 per cent on Tuesday.
China Telecom will release its annual results today and while many analysts expect strong earnings of up to 11.2 billion yuan (about HK$10.47 billion), there
were market rumours of an eight billion yuan write-off for outdated analogue network equipment. The technology-heavy Nasdaq market had fallen 3.15 per cent
on Tuesday, following heavy losses on Monday.
VTech dropped 2.63 per cent to $36.90, while Computer and Technologies fell 6.85 per cent to $12.90 and Johnson Electric slipped 0.42 per cent to $59.
However, a select few stayed on top as buying into the technology sector was far from over, brokers said.
``I don`t think the tech fever has gone away, I just think people are more selective ... I think this is good for the market that we`ve seen this correction,`` Mr Mok
said.
PCCW & YAHOO --->>> weiß jemand mehr???
South China Research sieht ein Kursziel für PCCW auf 12 Monate von 35 HK Dollar,was ungefähr 5 Euro entspricht.
Cu Webbie
PS:Nachzulesen bei Finet
Cu Webbie
PS:Nachzulesen bei Finet
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