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 (953)	4/3/2001 4:23:03 AM
From: ms.smartest.person	Read Replies (1) of 2248

PCCW May Sell Up to US$1 Bln Assets When Needed Apr 03, 2001 - 11:24:08 HKT Quamnet News Service Pacific Century CyberWorks Ltd. (0008), one of Asia's major telecommunications vehicle, could raise up to US$1 billion by selling non-core assets such as commercial properties, Internet investments and its stake in Singapore mobile phone group M1, Reuters reported, citing Francis Yuen, PCCW's deputy chairman. "There is a portfolio of possibly US$1 billion that we can realize if we need cash," Yuen said during a conference call monitored by Reuters. PCCW has US$1.6 billion in cash and no need for funding from the equity market at the moment, Yuen added. But if it really needed cash flow, it could sell about US$500 million worth of prime office properties in Hong Kong and Beijing as the office markets in these cities have bottomed out and are on an uptrend, he said

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