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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)
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To: ms.smartest.person who wrote (4396)1/7/2001 11:03:58 PM
From: ms.smartest.person  Read Replies (1) of 4541
 
Sybase to launch financial APS w/ PCCW (0008) in Q1

2001-01-04 15:43

(Infocast News) Application service provider Sybase, which is listed on Nasdaq today announced its development strategy in Asia Pacific region in 2001. Mark Wang, Asia Pacific Senior Vice President and Managing Director of the company, said besides launching various new products, the company also plan to invest its Innovation Fund into joint venture projects.

He expects that the growth of earnings of Asia Pacific region will be over 30% this year. He also believes that after China's entry into the WTO, the increased earnings from China market will reach 40%.

Gabriel Cheung, Vice President of Corporate Development-Asia Pacific, added that the company's Innovation Fund amounts to $US50 million, 30% of which has already spent on technology projects in Asia Pacific region. He said that the company invested about $US3 million into a joint venture projects of financial application service providers last year, their partner was PCCW (0008). Both parties hold 50% of the stakes, and they expect to launch in the first quarter. He said that they were in no hurry to get the said joint venture projects listed.



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