Softbank Investment International (HK0648) Message Board

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Technology Stocks : Softbank Investment International (HK0648)

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To: ms.smartest.person who wrote (308)	3/19/2000 12:19:00 AM
From: Yamakita	of 615

Let's hope Harmon says something good: Steve Harmon Global Mailbag Chairman & CEO - e-harmon.com the internet investment provider ____________________________________________ 2000.03.13: Global Mailbag ____________________________________________ Since the e-harmon team just returned from Asia, we start today's analysis with some Internet companies making some moves in Asia but perhaps globally...and in the next few weeks we will share our investment insights on Asia in a special investment report. Steve, Pacific Century CyberWorks (HKG:1186.HK) just bought the C+W Broadband network in H.K. What do you think of this? Would you buy now or continue to watch? Regards, Marco Harmon: Hong Kong-based CyberWorks' proposed acquisition of Hong Kong Telecom gives it what I think is real cash flow to support its growth with, not just inflated Internet paper. Distribution and content/commerce are key in growing an Internet business in the consumer space so the move makes sense for CyberWorks. The cash flow looks adequate to service the debt load resulting from the deal so I believe Richard Li made the right move here. I would like to see more wireless efforts made to shore up the stock though. Steve, Since you're going to do an Asia feature, please cover Cheung Wah (CWAHF) aka Softbank International Investment Strategies. Harmon: In Hong Kong there's a lengthy process to do an IPO so many firms in the Net space do a quick listing by acquiring a shell. This also happens in Canada. I am usually not a fan of this approach but in some cases speed matters. Hong Kong itself is a speculators' terrain which I find a little too eager to cash in on the Net. I've always been more long-term thinker in the investment world (more than 1 year minimum). Years ago Hong Kong residents traded entire housing complexes sight unseen so that gives you an indication of how speculative people there can be (more later on that). As far as Cheung Wah the e-harmon investment team that covers Asia sees it as one step of many for Softbank to try and make inroads in China. It's a long march, though from Tokyo to Beijing. Look for our new Chenug Wah/Softbank report in a week or so.

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