I just received this E-MAIL from a SIKE301@aol.com
Subj: A Stock Heads Up !!!
Date: 9/24/99 1:54:13 PM Eastern Daylight Time
From: SIKE301
Hi,
Just passing on a stock I have been watching and took a position in recently,it looks to be way oversold now and a incredible buy, it is SINC,they have a website with info at www.sincsfi.com,The CEO sent out a Shareholders update on 9-6-99 eluding to the fact news is coming maybe pertaining to Babcock & Brown of significant developments,they are looking to become a Major Carrier ( Fiber Optics - Telecom ) in Hong Kong and Southeast Asia and SINC has the landing rights to Hong Kong in Project Oxygen www.projectoxygen.com which will be one of the biggest Fiber optics projects in the world,Hong Kong & China need a whole new infrastructure so SINC is in the right place at the right time.SINC has some very big players teaming with them of late as in Babcock & Brown who are one of the largest financeers of major projects in the world,they did 19 billion just last year alone !! SINC also has working with them MFR Capitol partners headed by world renowned economist Maria Ramirez who is often seen on CNN,MFR helped make MFNX ( Metromedia Fiber ) a Big time palyer,Sun Technologies is also with SINC on this project,thier site is www.suntechsolutions.com,they have done work with some of the biggest companies in the world,SINC also has Robert Talbot-Stern on thier Board of Directors,he helped get the Chrysler-Benz deal together and sits on many Boards,of them he was on the interest rate committee and Ways & Means committee,Willie Lo is also a Board member,he was a Top member of Hong Kong Telecom,Huge experience,so ask yourself why these Big Players are getting involved with a small OTC BB,......Because the potencial for SINC to become a Major Player in Fiber optics is Excellent,This stock could easily see its old highs of $7 and then some with some very strong news that may be anytime now.Below is the CEO's shareholder update from 9-6-99
Southland Financial Inc.
Shareholder Update -
Message from the President
06 September 1999
This is the inaugural shareholder update via our website. It is intended that this will be a regular
feature and updated on an as required basis. We will be increasing our focus on shareholder
communication and appropriate delivery mechanisms. The website itself is an ideal starting point
and it too is presently being updated and enhanced. As per our last News Release I'd ask all
interested shareholders to register on the Company website and provide their email addresses for
information updates.
The updates will be divided into two sections, Corporate Updates and News Release Updates
(regarding previously released news items).
1.) Corporate Update
The telecommunications market in Hong Kong continues to de-regulate faster than initially
forecast. Over the past few months the Office of the Telecommunications Authority, (OFTA) have
recently announced the following changes which have a direct and positive impact on the
Company and it's Hong Kong subsidiary, United Telecommunications International, Limited.
These changes are as follows;
1.) A moratorium on further local Fixed Telecommunication Network Services licences, (FTNS)
until 1 January 2003.
This protects the interests of the existing carriers, Cable and Wireless Hong Kong Telecom,
Hutchison Communications Limited, New World Telephone Limited and New T&T Hong Kong
Limited and the development of their fixed telecommunication networks. These companies remain
our prospects for the provision of network service provision solutions and therefore it is important
that these companies can continue to grow their businesses and subsequent telecommunications
traffic demands.
2.) New External Facilities-based Fixed Telecommunication Network Services, (External FTNS)
licences.
The Company has until 30 September 1999 to apply for this "international gateway" licence. The
licence is to take effect from 1 January 2000, subject to the associated physical
telecommunications submarine cable terminating in the Hong Kong Special administrative Region,
(HKSAR). This licence, in association with our Cable Landing Rights with Project Oxygen Limited,
will allow us to carry international traffic to and from the HKSAR to a multitude of landing points
around the globe. The details of our application remain highly commercially sensitive. However I
can state that we are well progressed with both our technical and commercial aspects of our
application.
3.) New Local Wireless Fixed Telecommunication Network Services (Local Wireless FTNS)
licences.
The Company has until 30 September 1999 to submit its application for the "Wireless Local Loop"
licence. The licence is to take effect from 1 January 2000, subject to the rollout of the appropriate
wireless network. If granted this licence the Company would be able to roll-out a wireless network
that could enhance its position as a network service provider and work in well with its original
ducting/cable plans. At the very least, should the Company not be successful in gaining this
licence it will have many more potential wireless carriers to target as potential customers.
The applications for both licences are very detailed and we have been diligently working on them
now for several weeks. We remain confident of our chances of success with both applications.
Recently I travelled to New York, London and Hong Kong to attend meetings with our various
strategic partners and associates. In New York I met with Mr. Doyal Bryant, President of Sun
Technology Solutions (Sun) and various members of his team, including Mr. Jim Cahill, Senior
Partner of MFR Capital Partners, LLC (MFR). Both gentlemen confirmed their continued support of
our project and presented a variety of options to grow and enhance our business. These options
are presently before our Board for review.
In London, I met with Mr. David Williams, head of the Babcock & Brown telecommunications
division and a senior partner, Mr. Larry Smith, fresh from opening a new office in Germany. We
examined ways in which a stronger relationship could be developed between the organizations. I'd
expect an announcement further detailing these exciting developments to be forthcoming during
the coming weeks. I can state now that I am very pleased to confirm that Babcock and Brown, will
be substantially and integrally involved in the finalisation of both of our licensing applications.
In Hong Kong, I met with Albert Luk, Director of Top Express Engineering Limited, (TEEL) and we
examined ways in which our companies could strengthen our working relationship. I've made a
commitment to TEEL that we will avail ourselves of their services to assist in developing the
requisite infrastructure should we be successful in our licensing applications.
2.) News Release Update
1.) Project Oxygen Limited,
It is our understanding that further funding of the Project Oxygen Network is imminent. We continue
to work closely with the Project Oxygen management team and have recently finalised our
prospective landing site in Hong Kong. Recently landing points have been deleted from Oostende,
Belgium, Kingston, Jamaica, Winterton and Brighton, U.K., and Boston, USA. Landing points have
been added in Fareham, Scarborough and Widemouth, U.K. and Israel. The landing point in Qatar
has been changed from branch to double landing. In July, The President of the French Republic,
Mr. Jacques Chirac, awarded the Vice Chairman of Project Oxygen Limited, Dr. Pekka Tarjanne,
the "Ordre national de la Legion d'Honneur." The distinction was in honour of Mr. Tarjanne's
contribution as Secretary General of the International Telecommunication Union, (ITU) during his
tenure from 1989-1999.
2.) Delta Bay Limited,
As of 31 August 1999, Delta Bay had missed the second tranche of contracted funding to the
Company. It is now our opinion that Delta Bay will not perform under its contract and as such the
Company is presently seeking appropriate legal advice. The Company is confident that the funding
shortfall can be made up through its present agreements with Sun, MFR and Babcock and Brown.
3.) Top Express Engineering Limited, (TEEL),
As aforementioned the Company and TEEL are continually looking at ways in which we can grow
our businesses together. The Company has given an undertaking to access TEEL's services as
opportunities arise. The Company remains committed to its original undertakings with TEEL, to
acquire and build 300M+ USD of ducting and fiber through-out the HKSAR.
All in all, I firmly believe that the Company remains well positioned to take advantage of the
increasing opportunities in the telecommunications sector, within the Hong Kong SAR as well as
South East Asia.
David A. Turik
President and Chairman
MANAGEMENT
Commensurate of a project of this magnitude, SFI/UTI will shortly be announcing a world class Board of Directors and Senior Management Team, that have the appropriate experience to fully exploit the opportunity. The Board and Senior Management members are seasoned, experienced professionals who have all gained distinction in their chosen fields of investment banking, law, marketing, corporate governance and of course, telecommunications.
David A. Turik, President and Chairman of the Board
Mr Turik brings a wealth of telecommunications expertise to the Company having previously held senior executive management positions with Australian publicly listed companies, NetComm Australia, Telstra, (the former national carrier, Telecom Australia), AAP Telecommunications and Spectrum Network Systems, as well as Toronto Stock Exchange listed, TSB International. In the past 5 years, he has predominantly focussed on Business Development, Mergers and Acquisitions and project specific capital raisings. Mr Turik has held an interim role of acting President and Chairman for the Company and was responsible for identifling and negotiating the Company's telecommunications infrastructure based project in Hong Kong. Mr Turik has held many private board appointments across a wide range oftelecommunications related organisations.
Martin Dougherty, Non Executive Director
Mr Dougherty has had a long and distinguished career in the media and communications field having held senior executive positions with both the John Fairfax Group and News Limited. Mr Dougherty has also held Board Directorships with the John Fairfax Group, the Australian Associated Press, (AAP) and David Syme Pty Ltd, (publishers of the Melbourne Age and Business Review Weekly). For over 17 years, Mr Dougherty has also been Chairman of Dougherty Communications; public affairs consultants, specialising in strategic public relations, issues management, telecommunications, Government and media relations. This company became a member of the Ogilvy Public Relations Group. Mr Dougherty was a member of the International Management Group of Olgilvy Public Relations during the 1980's. He resumed private practise as a consultant in1989.
Willie Lo, Executive Director, Chairman of United Telecom Inc, (Hong Koug)
Mr Willie Lo is a veteran of the Telecommunications and Information Technology industries. He has held senior technical management positions for over 18 years, with Hong Kong Telecom, Telstra, (Telecom Australia) and PRACOM Pty Ltd. Mr Lo has successfully managed a broad range of projects from cable network roll-outs to systems development and implementation. For 8 years, Mr Lo was a Project Manager for Hong Kong Telecom, managing the deployment of major cable networks. Mr Lo was the IT Manager, Media & Broadcasting, for Telstra, prior to becoming IT Manager for PRACOM and an Executive Director, for Pacific Communications Research P/L. Mr Lo holds a Masters Degree in Systems Engineering, (RMIT), Diploma in Business Studies, Hong Kong Polytechnic and Bachelor of Applied Sciences, University of Melbourne.
Robert Talbot-Stern, Non Executive Director
Mr Talbot-Stern, B.S. Econ. (Wharton), J.D. (Penn.), LL.M. (London), has had a distinguished corporate, academic and public career, having been Group Counsel for UNISYS and Assistant General Counsel for Chrysler. While at Chrysler Talbot-Stern held Board directorships with Mitsubishi Motors and Peugeot, while coordinating Chrysler Canada's rescue effort. Mr TalbotStern is on a current White House Task Force on Deregulation and Competition, has been a guest columnist for the Australian Financial Review and business commentator for CNBC-TV. He has worked as a Management and Legal consultant in affiliation with consulting and law firms in Washington (National Academy of Sciences, McKinsey & Co., Herzfeld & Rubin, and Boston Consulting Group). He has been a past adviser to the Business Roundtable and Federal Reserve
Babcock & Brown, employ over 170 professional staff, in seventeen offices worldwide and completed over U.S.$19 billion in financings in 1998. The company is entirely owned by its professional staff. In South Africa, the firm operates in collaboration with Rand Merchant Bank of South Africa. Babcock & Brown's major client list includes Boeing, American Airlines, China Southern Airlines, General Electric Company, ABB, Texaco, IBM, EDS, Ford Motor Company and Westinghouse. Mr. Turik said that of particular significance to Southland is the fact that Babcock & Brown have successfully financed over U.S.$ 5.7 billion for companies in the telecommunications sector and have focussed on infrastructure based projects including fiber optic, cellular and satellite networks.
Babcock's telecom sector client list includes Bell Atlantic, Pacific Bell, US West, NYNEX, Hutchison Telecom/Orange (U.K.), Alcatel, Arianespace, INMARSAT and Northern Telecom. |
