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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies
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To: rodney beasley who wrote (54825)2/11/1999 1:50:00 PM
From: Frost Byte  Read Replies (1) of 119973
 
PCNTF news to hit Reuters...blowout earnings to be announced.
Pacific Internet Expects Profit in 4th Qtr to Exceed S$4 Mln
Singapore, Feb. 11 (Bloomberg) -- Pacific Internet Ltd., which last week
became Asia's first Internet-related company to trade in the U.S.,
expects profits in its fourth quarter to exceed the S$4 million ($2.4
million) it chalked up in the third. ''In Asia, the Internet penetration
is actually very low (and) the opportunity for growth is very high,''
Chief Executive Nicholas Lee said in an interview.
The final quarter's profit will give PacNet its first full- year profit
in at least four years.
PacNet, a unit of one of Singapore's biggest industrial groups, SembCorp
Industries Ltd., started trading its shares in the U.S. Friday. Its
shares rose more than five times its offer price of $17 a share in the
first hours of trading. It rose 5 1/2 to 35 Wednesday.
Lee said PacNet -- one of the three Internet service providers in
Singapore -- expects business to continue to expand in spite of Asia's
economic turmoil as more companies turn to the Internet for a cheaper
way to communicate.
PacNet plans to expand into India and Australia this year, either
through acquisitions or setting up new companies. Taiwan, South Korea
and China will follow. It has Internet operations in Hong Kong and
Philippines and Singapore.
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