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To: Process Boy who wrote (83142)	6/9/1999 12:57:00 PM
From: Paul Engel	Respond to of 186894

Intel Investors - Intel in Plans for S.E.Asia Internet Expansion The push into Internet would be done through Pacific Covergence Corp (PCC), the group's 60:40 percent joint venture with Intel Corp (Nasdaq:INTC - news) I wonder if any of those "Server Farms" will end up in Hong Kong, Singapore, Malaysia or China ? Paul {=============================} dailynews.yahoo.com Wednesday June 9 12:20 PM ET Hong Kong's Pacific Century Wants Asia Net Audience By Doreen Siow SINGAPORE (Reuters) - Hong Kong business tycoon Richard Li, through his Pacific Century Group, plans to bring the Internet at low cost to a low-income subscriber base in Asia. Li, the youngest son of property magnate Li Ka-shing, flew into Singapore for presentations to investors and fund managers on his strategy for Pacific Century and its Singapore-listed unit Pacific Century Regional Developments Ltd (PCRD). ''Our focus is to be the pre-eminent provider of Internet service, content and E-commerce in Asia through a broadband ISP (Internet service provider) platform,'' Li told a news conference. He said the Internet, which would have dominant Asian content, would be accessed through satellite and cable television, where there has been a high growth rate in Asia. Li, who started Asia's first satellite network STAR TV in 1991, and subsequently sold it to News Corp in 1993, said satellite television penetration in Asia was high compared with the telephone. The push into Internet would be done through Pacific Covergence Corp (PCC), the group's 60:40 percent joint venture with Intel Corp (Nasdaq:INTC - news) Li also explained the group's involvement with Hong Kong's controversial HK$13 billion ($1.7 billion) Cyberport project. He said the project, a high-tech multi-use campus located on Hong Kong island's waterfront, aimed to draw global information technology companies as well as domestic start-ups to Hong Kong. IT companies now find the high cost of commercial and residential rents in Hong Kong a great deterrent. Rents in the Cyberport would be kept low to make them comparable to the East Bay in San Francisco or to Singapore's Jurong Industrial Park, he said. To fund his Cyberport project, Li would be using Hong Kong listed Tricom Holdings, which he recently took over. Tricom would be renamed Pacific Century CyberWorks Ltd. Singapore's PCRD, which would transfer some of its property assets into Tricom, would be the holding company of Tricom with 68.2 percent. Li said Tricom does not have any drastic need to raise funds for the Cyberport project as it has cash of US$70 million and it also does not have to pay any land premiums to the Hong Kong government. He said the tendering for the project from large contractors, who were also expected to provide financing, was expected to start next year. In addition, the group currently has property assets worth HK$2.6 billion which generated steady income. There were also plans to sell these property assets in the future to raise money for the Cyberport project, expected to require equity of some US$300 million over the next four years. By 2006, the group would probably have no more infrastructure or property assets and would focus mainly on IT, he said. ($1-HK$7.75) Earlier Stories Asia Could Face Internet Address Crunch (June 4) --------------------------------------------------------------------------------