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Technology Stocks : China.com Corp-(CHINA) -- Ignore unavailable to you. Want to Upgrade?

To: eCurl who wrote (354)	7/22/1999 8:46:00 AM
From: Mohan Marette	Respond to of 504

INTERVIEW-China.com welcomes competition eCurl: Sure I can understand the employees griping about not getting enough shares,I would have if felt 'cheated'. I once quit a company for the same reason,best thing that happened to me,I quit the job and started my own company, did hell of a lot better than working for somebody.So,I am assuming, in this case employees who are (disatified with the stock option plan) confident in their own abilities may leave either to join the competition (depends on the job market there of course) or to even start their own ventures (very unlikely in most cases) that is life,not a huge negative for the company in any sense of the word. ============================ By Bill Savadove SHANGHAI, July 22 (Reuters) - Peter Hamilton, chief operating officer of newly listed China.com Corp, said on Thursday that more competition in both listings and its market would help develop the Internet in China. Hong Kong-based China.com, which operates Internet portals, listed on the U.S. Nasdaq market last week and surged around 236 percent from its $20 offer price on the first day of trade. A number of other Chinese Internet companies, including mainland China's Sohu.com and Netease, have said they would also seek listings in the wake of China.com's spectacular debut. ''I think it's really important that the consumer, the audience, is given a good reason to come on line,'' Hamilton told Reuters in an interview. ''And that's not going to come from one company, it's going to come from a broad variety of companies, just as it has in the United States,'' he said on the sidelines of an industry conference in Shanghai. Some analysts have questioned the meteoric rise of the stock, saying it was not a fair value for the company. China.com closed at $45.63, down $2.25, on Wednesday. But Hamilton said the Internet business had vast potential in China and the market should dtermine the share price. ''My view is that the markets set the price of stock, it's not companies,'' he said. ''The job of managment is to operate and execute along their business plan -- that's got to be our goal.'' That business plan includes developing its greater China websites, www.china.com, www.hongkong.com and www.taiwan.com, Hamilton said. Future growth would come from rapid growth in both China's and Asia's Internet use, as well as the company's increasing alliances for content and an agressive strategy for expansion in Asia, he said. ''We're not just a Chinese company,'' Hamiltion said. ''Our strategy is a pan-Asian strategy based on the integrated portal model.'' China.com recently completed advertising network acquisitions in South Korea, Japan and Singapore as well as web solution acquisitions in Japan, Hong Kong and Taiwan, he said, but declined to give details. ''We think that we can play an important role in facilitating the development of the Internet here in greater China,'' Hamilton said. In mainland China alone, the number of Internet users has doubled since the end of 1998 to around four million, according to one industry estimate.