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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1904)	9/3/2001 10:34:18 PM
From: ms.smartest.person	of 2248

PCCW (0008) NL may enlarge to $6.9B 2001-09-04 10:18 (Infocast News) Hong Kong Economic Times cited a source said that PCCW (0008) has to rearrange the items in the results of the last financial year, and the net loss of the company will become larger as a result. Since PCCW has already amortised goodwill $30.8 billion for Reach and Regional Wireless Company last year, the results of PCCW to be announced tomorrow will not be as worse as Telstra was affected. The report said that PCCW had worked out its balance sheet with cost. But according to new accounting standard, the company has to re-evaluate the remaining cost for goodwill and make provision rather than amortisation when there is diminution. Therefore, the loss of PCCW in the last financial year may be higher than $6.9 billion as announced. However, it will not affect the debt-to-equity ratio of the company. infocastfn.com

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