Pacific Century CyberWorks (PCW, PCWKF) Message Board

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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)

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To: John McDonald who started this subject	10/20/2000 4:17:05 PM
From: ms.smartest.person	Read Replies (1) of 4541

Cyberworks' Li: shr price weakness will not "stop deal flow and expansion" baby.boom.com.hk Thursday, 19 October 2000, 2:04 p.m.(HKT) KUALA LUMPUR (AFX-ASIA) - Pacific Century Cyberworks Ltd executive chairman Richard Li said the current weakness in the company's share price will not "stop deal flow and expansion". Speaking at a conference organised by HSBC, he also said Cyberworks is on track to refinance its net senior debt position at 5.5 bln usd by February. "Stock price valuation is relative not absolute," he said. Li said Cyberworks is in a position to meet its debt obligations even without any of its units being listed. He said the Cyberworks/Telstra mobile phone venture and IP backbone joint venture will be self-financing in the future "without even going public". Cyberworks is "very comfortable" with its 40 pct stake in the mobile phone venture but intends to reduce its interest in the joint venture if the latter is unable to be listed, he added. The mobile phone venture is not sufficiently "big scale" to make it CyberWorks' "core business". "So, we're taking a minority stake only," he added. Li said Cyberworks is committed to the further development of Network of the World (NOW) as there currently is a strong vacuum for broadband interface to enable content to be "piped-through". NOW is expected to be launched in Hong Kong in the first quarter of next year, and in Taiwan and China in the second and third quarters respectively. As for the IP backbone, its revenue mix is currently 60 pct voice and 40 pct data transmission. This is expected to change within three years, where voice transmission will account for only 30 pct with the balance coming from data transmission, he said. Li sees Cyberworks' EBITDA "healthy and stable post-Telstra (deal) completion". At the close of Hong Kong morning trade, CyberWorks was down 0.30 hkd at 6.05 on 101.34 mln shares.

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