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 wrote ()	3/18/2000 2:35:00 PM
From: ms.smartest.person	of 4541

Pacific Century CyberWorks is expected to report Monday a 1999 loss in excess of 46 mln hkd, analysts said. HONG KONG (AFX-ASIA) - Analysts contacted by AFX-ASIA were reluctant to give any specific numbers. "The reason for that is pretty simple ... there isn't a lot to go on," one analyst with a major European brokerage said. "What we do know is that it has a portfolio of investments in internet and internet-related companies valued in excess of 1.5 bln usd and has some property investments in Hong Kong and China." He said PCCW is a company driven by a vision which, if it works, will make it a very, very successful company. "I don't think Monday's results will mean much in terms of the company's overall perception by investors. "This is a company that has been talked up quite a bit by the market. It has a high profile and needs to keep that profile up," he said. "Just what the company will report on Monday is wide open to speculation. "It has no ISPs and it has no sales. So it has nothing coming in from its internet or internet-related businesses. "The only revenue as far as I can make out will be some modest rental income from its property and some modest profit from the disposal of some investments. But it is questionable whether that will be booked in 1999 or 2000." Another analyst with a European brokerage said: "You cannot value an internet company on fundamentals ... they just don't have any. What you are putting a value on is a concept and what that concept will bring down the line. "For Pacific Century CyberWorks the key to its success will be Pacific Century Convergence which aims to be the leading provider of broadband internet services in Asia via satellite. "PCCW's future will live or die on its success and the company has until the middle of the year to produce results or face the possibility investors will move on. There comes a time when the talking has to stop and be replaced with something concrete." Another analyst with a local brokerage said: "She expected the company will report a loss of over 46 mln hkd. "Much of that will be the operating cost of Pacific Century Convergence," she said. baby.boom.com.hk

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