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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1473)	6/25/2001 12:32:10 PM
From: ms.smartest.person	Read Replies (1) of 2248

Li hopes logo change will boost his corporate luck 2001-06-26 FROM THIS TO THIS HONGKONG -- If Hongkong business watchers are careful enough, they should notice that the logo of Hongkong's telecommunications giant, Pacific Century Cyberworks (PCCW), has been almost imperceptibly changed. That is, two parallel strokes within the Chinese character "Ke" which previously declined to the right are now two horizontal wiggly marks. As nothing in the other three characters "Dian Xun Ying" has been modified, Hongkong papers speculated that the change was more for staving off PCCW's run of bad luck than to impress. The change could have been approved by Hongkong's former golden boy and PCCW boss Richard Li for his beleaguered company. Apple Daily reported yesterday that Mr Li could have hoped that by levelling the declining strokes, the fall of PCCW's stocks would be checked. Besides, the character "ke" is pronounced as "'fall" in Cantonese, a double curse that needed to be righted. As of late last month, the value of PCCW has plummeted by 82 per cent since it took over Hongkong Telecom in August last year. It also has a massive debt of US$5 billion (S $9 billion.) This was a far cry from PCCW's heyday in early 2000, when it was seen as a golden goose by many Hongkong investors. PCCW's decline has been blamed mainly on Mr Li's over-ambitious expansion plans. Mr Li, formerly dubbed Little Superman, has been called on to step down by frustrated shareholders. His reputation took a beating recently when it was discovered he was not a graduate of Stanford University as claimed. Terms and Conditions Copyright© 2000 LEXIS-NEXIS, a division of Reed Elsevier Inc. All rights Reserved. quamnet.com

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