PCW - Pacific Century CyberWorks Limited Message Board

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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (612)	3/21/2001 8:17:01 PM
From: ms.smartest.person	Read Replies (1) of 2248

CyberWorks nears 52-week low (PCW) By Vivian Chu Shares of Pacific Century CyberWorks (PCW) sank 2.6 percent after hitting a 52 week-low in the morning session on Wednesday. By mid-day, shares of CyberWorks stood at 3.70 Hong Kong dollars, after hitting a year-low of 3.68 Hong Kong dollars. CyberWorks, the city's dominant telecom firm, will release next week its first year-end results since it acquired C&W Hong Kong Telecom from Cable & Wireless (UK:CWP) last year. On Wednesday, a local Hong Kong newspaper said that CyberWorks could write off up to $200 million from Internet investments and $24.1 billion in goodwill in its first post-merger results. Separately, CLSA Research said that the value of CyberWorks' venture portfolio has plunged 38 percent, losing $407 million. The company lost $318.9 million on its investment in Internet incubator CMGI (CMGI) and $122.7 million on SoftNet (SOFN) , the report addded. CyberWorks' stock price is off 17 percent since the start of this month and down 27 percent so far this year, compared with a 14 percent loss in the benchmark Hang Seng Index. www2.marketwatch.com;

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