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 (765)	3/28/2001 10:14:31 PM
From: ms.smartest.person	Read Replies (1) of 2248

PCCW Tumbles to Below HK$3 on Huge FY Loss Mar 29, 2001 - 10:21:03 HKT Quamnet News Service Pacific Century CyberWorks Ltd. (0008), Richard Li's Internet investment company, fell as much as 14.4 percent to HK$2.975, its new record low, in early morning trading. At 10:06 a.m. local time, the stock was quoted at HK$3.15, down 9.4 percent, on turnover of HK$94.9 million. PCCW said it posted a net loss of US$886 Mln for 2000, which was below expectations. Its first full-year results after merging with HKT last August included a provision of US$667 million, of which US$627 million was for its investment in Internet startup and related companies. Net finance charges were US$302 million. The company also wrote off US$22 billion of HKT goodwill against its reserves. It now has total shareholder deficit of US$1.8 billion. EBITDA (earnings before interest, tax, depreciation and amortization) were US$191 million. Revenue was US$935 million. -------------------------------------------------------------------------------- Copyright 2000 Quam(IA) Limited, All rights reserved quamnet.com

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