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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1897)	9/1/2001 11:49:18 PM
From: ms.smartest.person	Read Replies (1) of 2248

Telstra Needs Stronger Leadership - Analyst Newsbytes - Asia; Aug 30, 2001 BY MERRI MACK, COMPUTER DAILY NEWS. $$$ Independent telecommunications analyst Paul Budde has lambasted Australia's dominant telco Telstra and its CEO Ziggy Switkowski for not showing leadership - even though Ziggy Wednesday announced a record profit of 4 billion Australian dollars ($2.12 billion), up 10 percent, and promised there is still plenty of growth in the telecoms industry. $$$ Revenue was 18.9 billion Australian dollars ($10.01 billion), up 3.2 percent. The result was impacted by slowing growth in the mobile sector, market share losses in the fixed line business and intense price-based competition, Switkowski said. $$$ Commenting on the results to Computer Daily News, Budde called the profit "fantastic." But he said, "Instead of just raising prices Telstra should be developing new Australia-based revenue streams. $$$ "With 80 percent of revenues coming from voice services - which are all in decline - and failing to tap into the mobile market and data market, it has only 11 percent of the data market. Mobile and international revenue streams are all down too." $$$ He added: "The key issues for Telstra are that they should be showing leadership in Australia and investing in a national broadband service ... They should not have invested in Pacific Century CyberWorks and companies like Solution 6." $$$ Telstra took a 1 billion Australian dollars ($529.4 million) write-down on the Regional Wireless Company, its Asian mobile joint venture with Hong Kong-based CyberWorks. $$$ Exchange Rate: $1 = 1.89 Australian dollars $$$ Reported By Newsbytes.com, newsbytes.com . $$$ 03:02 CST $$$ (20010830/WIRES ASIA, TELECOM/) Copyright 2001 by Newsbytes.com. All rights reserved. Copyright © Asia Intelligence Wire globalarchive.ft.com

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