Steve, was wondering about Pacific Internet (PCNTF).
If this company is successful in expanding into the faster growing Asia Pacific market, its $400mm market cap would look to be quite a steal. They are profitable, have over 200,000 subscribers, and will be expanding into India shortly.
From Barrons:
The company is an ISP, or Internet service provider, in Singapore,
Hong Kong and the Philippines. It recently signed a deal to expand
into India, and it plans to move into Australia, China, Indonesia,
South Korea and Taiwan. Adopting the model of its U.S. counterparts,
Pacific Internet seeks to become an Internet portal and introduce
valued-added services, including E-commerce.
Analysts forecast the number of Internet users in the Asia-Pacific
region will grow to 34.2 million in 2002, from 6.6 million in 1997, a
compound annual growth rate of 39%. The number of Web surfers in the
U.S. meanwhile is expected to increase to 135.9 million in the same
period, from 38.7 million, a compound annual growth rate of 28.6%.
As the U.S. market matures, domestic companies may look overseas to
sustain growth, and Pacific Internet could be a takeover candidate.
"Providing the ability to get on the Internet is a growing business
that won't go out of business," Taulli says. "Pacific Internet could
be a savvy investment."
From the Wall St. Journal:
Shars of Pacific Internet Ltd., an Internet service provider based in
Singapore, surged on their first day of trading Friday amid investors'
hopes that the Asia Pacific region could see a boom in online users.
From IPO Central:
WIth the Singapore market already under its belt, the company is
raising capital for aggressive growth of its Internet services (which
include e-mail, paging, Web hosting, and Internet consulting) and vast
regional expansion to other Asia/Pacific areas.
I would very much appreciate your opinion as this stock is quite controversial. Was as high as $88 and now trades at $33.
Thanks,
FB |
