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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1824)	8/13/2001 10:25:50 PM
From: ms.smartest.person	Read Replies (1) of 2248

Hutchison Global Crossing Steps Up Mainland Data Business Dow Jones Newswires HONG KONG -- Hutchison Global Crossing has strengthened its alliance in the data-transmission business with Guangdong Telecom, which will allow the Hong Kong-based company to benefit from an expected boom in the data market on the mainland, Hutchison Global Crossing's chief operating officer said Saturday. In a statement Saturday, Hutchison Global Crossing COO Peter Yip said the company will step up the development of the Guangdong-Hong Kong International Private Leased Circuit Service, or IPLC. That is ahead of a "multifold increase in demand for international communications" in China due to its expected entry into the World Trade Organization, he said. The Guangdong-Hong Kong IPLC project is a joint venture between Hutchison and Guangdong Telecom, a wholly-owned subsidiary of China Telecommunications, the largest fixed-line carrier in China. It helps provide data links for businesses between Hong Kong and the mainland. According to a South China Morning Post report Saturday, Hutchison Global Crossing has invested HK$200 million in IPLC, mainly for buying facilities and capacity, in anticipation of the boom in IPLC demand. The newspaper also quoted Yip as saying the company has taken up half of the IPLC capacity in Hong Kong within three months of launching services. The report also said Hutchison has surpassed dominant operator Pacific Century CyberWorks in the IPLC market in Greater China. Hutchison Global Crossing expects 50% growth each year in the next three years, Yip added in the report. By Yeo Kwee Chuan;Dow Jones Newswires, 852-2802-7002;kwee-chuan.yeo@dowjones.com interactive.wsj.com

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