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 (718)	3/27/2001 9:06:33 PM
From: ms.smartest.person	Read Replies (1) of 2248

STOCKWATCH: PCCW higher on technical rebound 2001-03-28 Terms and Conditions Pacific Century CyberWorks Ltd shares were higher on a technical rebound after posting losses over the past week, analysts said. They said there are still uncertainties surrounding the company, especially as concerns its 2000 results which will be released tomorrow. At 11:56 am, PCCW was up 0.10 hkd or 2.899 pct at 3.55 on 33.269 mln shares. The Hang Seng index was up 7.23 points at 12,957.72. An analyst with a local brokerage said there are still "a lot of problems ahead" for PCCW, especially with the goodwill it has to write-off for the purchase of Hong Kong Telecom. "And what used to be the most valuable assets for PCCW is no longer valuable anymore," she said. She said the fixed line business is now the 'cash cow' for the PCCW group, a business that the company paid for with a high premium. The analyst estimates PCCW's share price to be worth about 3.00 hkd "at most." Another analyst with a local brokerage attributed the gain on the share price to a technical rebound as PCCW has been falling for the past seven days. "It is hard to say if the stock has hit bottom at the moment. We are still waiting for them to announce their results tomorrow." He said he will be in a better position to assess PCCW's share price valuation only after seeing how the company has presented its results, especially on how it books its extraordinary items. He said a lot of analysts are looking at a share value of 3.00 hkd or less, after stripping out the exceptional items and the value of its venture capital investments including NOW. ra/bmm For more information and to contact AFX: www.afxnews.com and www.afxpress.com Terms and Conditions Copyright© 2000 LEXIS-NEXIS, a division of Reed Elsevier Inc. All rights Reserved. quamnet.com

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