Pacific Century Cyberworks - Facts only, no hype or bullshit - 500 Beiträge pro Seite

[rocco2]

Hallo PCC Freunde,

so ich mache mal den Versuch einen Thread zu eroeffnen, der eine sachliche Diskussion ueber PCC ermoeglichen soll und hoffe das wir hier die unnoetige Vielzahl von PCC Threads etwas eindaemmen koennen.

Ich werde hier in Zukunft aktuelle Infos und News reinstellen und wuerde mich ueber rege Teilnahme freuen.

Schlusskurs Hongkong:

17.85HK$ +7.21%, Vol. 392 Mio. Shares
Fairer Kurs in D somit heute 2.28 Euro (7.82HK$=1Euro)

Ein weiterer interessanter Artikel, der sich naeher mit dem PCC/CMGI Joint Venture befasst, war heute in der South China Morning Post.
Ich kriege den Artikel grad nicht, werd ihn aber spaeter noch hier reinstellen.

gruss rocco

[rocco2]

Kaufempfehlung fuer PCC von Dao Heng Securities:

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MARKET COMMENTS

The HSI continued to hover around the 15,000 level. The proposed merger between C&W HKT and Singapore Telecom boosted shares in the former and China Telecom, thus helping the HSI to close above 15,000. News that Pacific Century Cyberworks is forming a joint venture with CMGI boosted the prices of certain technology stocks like Golden Power and Cheung Wah Development, although red-chip technology concept stocks generally succumbed to profit-taking. Having found good support at 15,000, we expect the market to move up today.


COMPANY NEWS

PCCW (1186) BUY

$16.65

We think the formation of CMGi Asia, the 50:50 JV between CMGi and PCCW is positive and reflects the management`s ability to add value by finding strategic partners.

CMGi Asia will be the vehicle for launching US-based CMGi-owned Internet companies in the region, including Japan and more than 60 Asia-Pacific countries. CMGi Asia will enter into separate operating JVs with each company. Up to 18 JVs will be set up initially. However, management has not disclosed the amount of investment in the JVs.

The first four companies to be brought to Asia are Alta Vista (a search engine and premier media and commerce network), Engage Technologies (ENGA, a profile driven Internet marketing solutions provider with market cap of US$5.8bn), iCAST (a multi-media rich, online entertainment company) and 1ClickCharge (Internet payment service provider).

The introduction of the four companies is expected to enhance the launch of the NOW broadband service in mid 2000. Alta Vista and iCAST can create additional traffic, Engage Technology can tap the advertising market, and 1ClickCharge will do the same for e-commerce. We also expect PCCW to spin off each CMGI Asia JV in the future, which will potentially enhance the market cap of the company.

PCCW raised $2.97bn from a share placement yesterday to fund future business expansion. 188mn shares were placed at $15.80 each, representing a discount of 5.1% to the counter`s last traded price. The issue size represents only 2% of the enlarged share capital.

Elsewhere, Paramount`s (282) $855mn share placement was cancelled. It was reported the proposed asset injection was not approved by the Stock Exchange. The recent cancellations of share placements by Paramount and New World Cyberbase may cause negative market sentiment towards smaller technology counters.

[rocco2]

Eine etwas kritischere Einschaetzung des JV von quamnet:

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CMGI and PCC (1186) to take over Asia

2000-01-26

CMGI bills itself as "a company constructed of companies," and having already collected over 60 internet ventures in the US, the webglomerate is coming after Asia in a 50/50 joint venture with Hong Kong`s Pacific Century CyberWorks.

In order to meet the funding needs for their half of CMGI Asia, PCC placed 188 million new shares at HK$15.80 (US$2.04) and will net $2.906 billion. BNP Peregrine, however, has an option to buy another 60 million shares at the same price, and if the option is exercised the total amount netted by PCC will be $3.8 billion -- more than enough to fund the 2.945 billion earmarked for the JV. PCC`s placement dilutes shareholdings by just less than 2.1% and brings the total number of shares outstanding to 9,255 million. Assuming the option is exercised in full, the total dilution will be 2.7% with 9,315 million shares outstanding.

This is not the first time for CMGI and PCC to get together. A September 1999 $2.7 billion (US$350 million) equity swap began the two companies` relationship and gave CMGI 4.9% of PCC, relegating original 60/40 PCC shareholder Intel to a distant third place with less than 1%.

Though there are over 60 companies in CMGI`s corral, at first only four -- AltaVista, 1ClickCharge, iCAST, and Engage Technologies -- will team up with CMGI Asia. Of the four, only Engage is listed (Nasdaq: ENGA). Engage`s operating expenses have at best been more than two times its revenue and the company has accumulated net losses of more than US$66 million in the past three years. CMGI Asia will hold 60% of these sub-JVs with the individual operating company holding the other 40%.

CMGI reported net income in 1998 and 1999. However, these positive bottom lines were the result of non-operating income sources with the company`s operations alone bleeding money (US$127 million for the fiscal year ending July 31, 1999 and already US$275 million in the following quarter).

For PCC, its US$58 million investment in more than 25 internet firms will be boosted by the possible addition of a range of American internet companies which already have well-established brand names. But the "company constructed of companies" strategy, for both CMGI and PCC, still seems to lack that one crucial factor that will eventually become somewhat important: profit.

[Michael_III]

Gute Idee mit dem Thread! Zu PCCW: Auffallend ist die Stärke gegenüber dem Gesamtmarkt. Insofern dürfte auch eine böse Zinsüberraschung sich auf PCCW nicht allzu negativ auswirken.
Kurse unter 2Euro werden wir aller Voraussicht nach nicht mehr sehen.
Gruß
Michael_III

[rocco2]

Hi Leute,

hier mal ein Bild von den BIG guys und der zugehoerige Artikel aus der HK Standard:



CAPTION: Richard Li and Hans Hawrysz celebrate their latest venture, promising it will become an Asian-based world leader.

STORY: RICHARD Li Tzar-kai yesterday added another significant element to his cyber empire by striking a deal with the leading US Internet company CMGI to form CMGI Asia. The new company, with headquarters in Hong Kong, will be the vehicle for Richard Li`s technology flagship Pacific Century Cyberworks (PCCW) in bringing worldwide Internet brands to Asia.

By joining up with CMGI, which claims to be the largest Internet company controlling the most extensive global cyber network, Mr Li is collecting a new array of renowned international Internet brands under his umbrella.

``The joint venture is a landmark development for PCCW. . . which clearly underlines our position as a preferred Internet partner in Asia for global brands,`` Mr Li said.

Outside of Japan, PCCW is the largest Internet company in Asia, with market capital of US$19.4 billion (HK$151.3 billion).

Mr Li is still not sure PCCW`s present cyber coverage is sufficient, even though his company has invested in 20 Internet-related firms across the world, including a 23 per cent stake in the US broadband enabler SoftNet, along with others _ ranging from IP telephony to Internet conglomerates, online brokerage sites and a traditional Chinese medicine portal.

He wants to develop CMGI Asia into a fully vertical one-stop Internet services solutions provider catering for any single firm which wants to join the cyber world.

``Whether it is dot-com companies or traditional firms which want to change to become Internet-based, we want to see them being able to come to CMGI Asia and get a full service _ from beginning to end,`` said Mr Li, who added he was excited by the latest venture.

``And we would be able to enable companies or any start-ups whose Internet models right now are still relatively simple. With these new technologies we would be able to strengthen them to be higher-value entries toward more effective medium as well as e-commerce,`` he said.

In September last year, PCCW engaged in an US$350 million share swap with Nasdaq-listed CMGI.

Mr Li said the two companies were now ``actually doing something together`` with their strengths complementing the other`s shortcomings.

Mr Li said the joint venture would enhance the value of PCCW from the venture side as well as from the broadband side.

``It will produce immediate value for PCCW`s broadband service and we are probably the biggest client needing all this technology under the umbrella of CMGI,`` he said.

``It is exactly the same structure that Yahoo! and Yahoo! Japan have.

``It takes an existing service and then develops a different cultural version to fit into another geographical region,`` said Mr Li.

``Rather than just target one country as Yahoo! does, we will target all of Asia including Japan,`` he said.

CMGI executive vice-president Hans Hawrysz said he believed the partnership with PCCW would allow the company to expand in Asia and also increase the dominant position together with PCCW.

Mr Hawrysz said CMGI Asia aimed to reach a market valuation of US$28 billion in less than 21/2 years _ faster growth than Yahoo! Japan.

He claimed the vast Asian market was the only place the largest global Internet business could be built. As far as he was concerned yesterday`s deal made PCCW and CMGI the first truly global Internet companies.

CMGI Asia will eventually form joint ventures with CMGI`s 18 majority-owned subsidiaries, with 60 per cent of the venture held by CMGI Asia and the remaining 40 per cent by individual CMGI operating companies.

The first four companies to be brought to Asia under the agreement will be online network Altavista, multi-media entertainment company iCAST, Web payment service 1ClickCharge and Internet marketing solution provider Engage Technologies, which is Nasdaq-listed and which Mr Li ``is personally in love with``.

PCCW will fund its 50 per cent of the joint venture by selling US$384 million (HK$2.97 billion) worth of new shares to make sure the deal was adequately covered.

Mr Li said PCCW had completed the placement of 188 million shares at HK$15.8 each, or 5.1 per cent less than the stock`s quoted price before trading was suspended yesterday.

He hoped that within a year or two each of the 18 CMGI Asia companies would be listed, but did not say on which exchange.

[els]

Hi"Rocco" ich bin seit 1,32 Euro dabei,denke an 3-5 Euro in 2-4 Monaten.
Ps.Frieden Ok
mach weiter so!

[rocco2]

hi Michael,

ja denke hier genauso wie Du, das Joint Venture wird sich erst mal in der naechsten Zeit recht positiv auf den Kurs auswirken.
Besonders die Publicity in US ist nicht schlecht.
Von den Amis verspreche ich mir noch ne Menge Kursimpulse.

Die evtl. Zinserhoehung in US solltest nicht unterschaetzen da die Zinsfestlegung hier in Hongkong an die US Rate gekoppelt ist.

gruss rocco

[rocco2]

hey els,

klaro no problem.
Finde ich prima dass Du dich meldest.

gruss rocco

[rocco2]

Li caps CyberWorks holding in Tom.com

PEGGY SITO

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Tom.com, a joint venture between Cheung Kong (Holdings) and Hutchison Whampoa, will sell less than a 10 per cent holding to Pacific Century CyberWorks, according to Li Ka-shing.
Mr Li, Cheung Kong and Hutchison chairman, said the investment by CyberWorks in Tom.com was expected to be finalised soon.

CyberWorks is a subsidiary of Pacific Century, which is controlled by Mr Li`s son Richard Li Tzar-kai.

Tom.com is a new company aimed at developing multilingual portals for mainland-related infotainment.

The company is 40 per cent owned by Hutchison Whampoa, 20 per cent by Cheung Kong and 40 per cent by another group of investors.

Mr Li said he was confident about the outlook for the industry, adding many companies wanted to invest in Tom.com.

He said it was unlikely Tom.com would bring in more shareholders before the company went public.

Analysts expect Tom.com to seek a listing in Hong Kong in the first half of this year.

Meanwhile, Mr Li said the proposed merger of Cable & Wireless HKT and Singapore Telecommunications was unlikely to impact on Hutchison`s telecoms business.

Hutchison`s proposed investments would not be affected by the planned merger, and they would proceed as originally planned, he said.

Mr Li spoke after making the Li Ka-shing Foundation`s donation of $40 million to the Open University for building a 3,100 square metre regional learning centre at the Shun Tak Centre in Sheung Wan

[rocco2]

Ach uebrigens die Chinese New Year Rallye scheint so langsam loszugehen :-)

[armonmuriel]

Hi PCCW-Fans

Nachstehend noch ein Announcement von Yahoo.de Finanzen (search news unter pacific century cyberworks)vom
Freitag, 21. Januar 2000. Habe leider keine Zeit um alle Treads durchzulesen. Kann sein, dass diese Nachricht
schon gepostet wurde.

Presse: Pacific Century CyberWorks will 30% an OICQ.com erwerben

HONGKONG (dpa-AFX) - Die Internetholding Pacific Century CyberWorks Ltd. will nach Informationen der Tageszeitung
Ming Pao Daily 30% an OIQO.com erwerben, einem chinesischen Internet-Diskussionsforum. Die Zeitung beruft sich auf
die Aussage eines Unternehmensvertreters von Cyberworks, dem zufolge bereits entsprechende Verhandlungen mit dem
Venture-Capital-Fonds IDG geführt werden. IDG ist der Eigner des webbasierten Diskussionsforum.

Bisher sei noch keine Übereinkunft erzielt worden. Sollte es zu einem Geschäftsabschluss kommen, wäre dies das
erste Internet-Investment von Cyberworks auf dem chinesischen Festland.

Cyberworks werde in zwei Wochen Details zur Beteiligung an TOM.com veröffentlichen, sagte Francis Yuen, Vorstands-
mitglied von Cyberworks, am Rande der Eröffnungsfeier für iLink.net. Ilink.net ist ein Internetdienstleister an
dem Cyberworks 80% und DotCom Pacific Ltd. 20% hält./cs/ph

Gruss

[fotsch]

ROCCO ich will ja nichts sagen aber ich muß!
Du taugst nichts !!
Fotsch

[megastock]

Wer verkauft denn jetzt seine pccw???

inraday chart:



gruß
megastock, der jetzt 60% in asien investiert ist.

[rocco2]

hi Leute,

in Hongkong ist die Chinese New Year Rallye voll im Gang und PCCW konnte trotz schwacher Vorgabe der Nasdaq von gestern wieder gut zulegen.

Schlusskurs Hongkong:

18.70 HK$, Vol. 102 Mio. Shares
Fairer Kurs in D somit 2.40E (7.78 HK$= 1 EUR)

Die Aktienplatzierung am Montag ist erfolgreich verlaufen. Hier ein kleiner Artikel in der SCMP von heute:

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CyberWorks placement success

Pacific Century Cyberworks new placement of 248 million shares was fully exercised by BNP Peregrine on Monday. The $15.80 per share will raise $3,92 billion and raise the number of CyberWork`s shares to 9.31 billion, of which Richard Li Tzar Kai, the largest shareholder, holds 63.6 per cent.

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Neue Marktkapitalisierung somit 174 Mrd. HK$, ca. 22.5 Mrd. US$

Weiterhin gab es eine Buy Empfehlung von Lehmann Brothers mit einem agressiven Kursziel von 35 HK$. Ich werd den Artikel gleich noch reinstellen.

gruss rocco

[rocco2]

Review gives infotech firm high ratings



Lehman Brothers has set an aggressive $35 "strategic value" 12-month target on the stock of Pacific Century CyberWorks - an almost 100 per cent increase on yesterday`s closing price.
Communications and Internet equity research analyst Ravi Sarathy said in a report the investment bank had also upgraded its recommendation on Richard Li Tzar-kai`s company from V1-Buy to 1-Buy - the highest rating and equivalent to a strong buy.

The report came a day after CyberWorks announced a 50-50 joint venture with United States-based CMGI to establish the Nasdaq-listed firm`s Internet-related operations in Asia.

CyberWorks, the information-technology flagship of the Pacific Century Group, raised HK$2.97 billion from a share placement on Tuesday to finance the joint venture.

Its shares climbed 7.2 per cent to $17.85 yesterday.

The joint venture would add value for unlisted Pacific Convergence Corp (PCC), a subsidiary of CyberWorks which is also developing a pan-Asian broadband access business through satellite technology.

"In an environment where PCC has roughly doubled its sum of parts over a four-month period, we no longer see this `snapshot` valuation approach as an effective way to proxy the company`s long-term intrinsic value," Mr Sarathy said.

"As such, against a sum-of-parts value of HK$10 per share, we are setting an aggressive 12-month `strategic value` share target of $35 per share for the company (CyberWorks) based on a continued expectation of value-accretive transactions which have become the company`s hallmark."

A Lehman spokesman said this was the highest rating he had seen for CyberWorks and that the general market consensus was for about $15 to $20 on a 12-month basis.

Merrill Lynch Internet analyst Matei Mihalca placed a 12-month buy target of $25 on CyberWorks this month ahead of the announcement of the CMGI joint venture.

[rocco2]

Tom.com IPO and der GEM, mal schauen ob ich welche kriege *g*

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Tom.com to List in Mid-February

Jan 27,2000 - 15:13:05 HKT

Market sources said that the listing plan of Tom.com is in satisfactory process. A sponsor and underwriter have also been confirmed. It is said that the company will list on Hong Kong`s Growth Enterprise Market in the middle of next month.

[fotsch]

Rocco was soll nur aus dier werden?
Fotsch