I just read an advertising pitch from James DiGeorgia touting a stock (did not name the company by name but left obvious clues) as the next Softbank. Hyperbole, to be sure. But every now and then DiGeorgia hits a good one.
If Intel has invested money in PCCLF then there must be outstanding potential. $50,000,000.00 is not chump change. CMGI, too?
There is information floating around the internet on PCCLF
From Pacific Century Group website:
pcg-group.com
Pacific Century CyberWorks
From bricks and mortar to bits and bytes... A Hong Kong-listed flagship for
Pacific Century Group.
Pacific Century CyberWorks Limited [Reuters: 1186.HK ; Bloomberg: 1186], is
the Group's Hong Kong-listed flagship company for its technology businesses.
The new company was formed through the acquisition of Hong Kong-listed
Tricom Holdings Limited (Tricom) a telecommunications service provider.
On August 1, 1999, Pacific Century CyberWorks announced it is acquiring
Pacific Convergence Corporation (PCC), a joint venture formed in February
1998 by Pacific Century Group (60%) with Intel Corporation (40%), the
world's leading maker of microprocessors. Intel's investment of US$50
million in Pacific Century CyberWorks, combined with its initial 40% stake
in PCC, gives Intel a 13% stake in Pacific Century CyberWorks. PCC is
expected to become the preeminent Internet service, content and eCommerce
provider in Asia. The PCC pan-Asian service, by creating a broadband ISP
platform, providing integrated on-line content and enabling and operating
the development of a regional eCommerce network, will comprise the largest
Internet distribution system in the world, with a reach of 110 million
households.
Pacific Century CyberWorks will enter into and invest in local and
international information technology and Internet businesses and, subject to
agreement by the Government of Hong Kong, will be the sole vehicle to sign
all agreements with the Government of Hong Kong in connection with the
Cyber-Port project.
Richard Li, Chairman and Chief Executive of Pacific Century Group, is
Chairman of the new company. Other senior PCG executives have also taken up
posts in the new company: Francis Yuen and Peter To are joint Deputy
Chairmen, and Alex Arena is Group Managing Director.
Our aim is to build on our expertise and knowledge of digital technology and
new media to become a preeminent leader in Internet content and services
such as eCommerce. We believe there are tremendous synergies between our
existing activities in this field and future business opportunities.
The new company's parallel involvements in the Cyber-Port and the
fast-growing information technology and Internet sectors, and its
acquisition of Pacific Convergence Corporation, will help secure Hong Kong's
position as a hub of Asia-focused eCommerce and Internet content
development. We intend to create new opportunities for the best talent in
the region and stimulate the industry.
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Hey gang, this looks very interesting. Count me in.
Are we on the bottom floor, or what?
JJF |
