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 (1713)	7/24/2001 4:04:35 PM
From: ms.smartest.person	Read Replies (1) of 2248

Pacific Century CyberWorks Takes Market Beating By Staff, Computer Daily News HONG KONG, CHINA, 24 Jul 2001, 12:44 AM CST Shares of Pacific Century CyberWorks (PCCW) slumped 5.9 percent on Monday, matching a 26 month low, after PCCW's failure to sell $2.5 billion of bonds renewed concerns over its debt. "It reflects disappointment that the company couldn't find cheap money to cover its short-term debt," Kitty Chan, who helps manage $70 million of Asian stocks for Lippo Securities, told Bloomberg wire service. "Investors' confidence also suffer a setback after the bond deal fell apart." The cancellation may challenge the company's plan to raise $300 million for its CyberPort property project in Hong Kong. CyberWorks is now paying about $20 million interest payments a month as its cash cow, the fixed-line business, which accounted for more than three-quarters of its revenue, is expected to be down 5.1 percent next year and 2.7 percent in 2003. Reported By Newsbytes.com, newsbytes.com . 00:44 CST (20010724/WIRES ASIA, ONLINE/) © 2001 The Washington Post Company c.moreover.com

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