Pacific Century CyberWorks (PCW, PCWKF) Message Board

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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)

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To: ms.smartest.person who wrote (699)	3/17/2000 9:26:00 AM
From: ms.smartest.person	of 4541

PCCW to report 1999 financial results on Monday Hong Kong: 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. SK Telecom Approves 10-for-1 Stock Split, Seeking to Expand Investor Base home.snap.com

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