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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF) -- Ignore unavailable to you. Want to Upgrade?

To: Tom_ who wrote (39)	12/22/1999 5:52:00 PM
From: John T. Hardee	Respond to of 4541

PCCLF happy news - We see a good gap tomorrow.. ARTICLE (with mention) Asia's High-Tech Party Isn't Over Yet Valuations are high, but there's still running room "...Many analysts are sticking to bold pioneers such as Hong Kong's Pacific Century CyberWorks Ltd. It plans to bring broadband networking to Asia. Goldman Sachs analyst Rajeev Gupta expects it to keep rising in 2000--and revenues to soar to $3 billion in 2004, vs. $31 million in 2000...." December 17, 1999--HONG KONG] Pacific Century CyberWorks (PCCW) and NetCel Ltd have agreed to form a 50/50 JV company called Total e-commerce Ltd (Total e-comm). The new company will provide a range of business-to-business (B2B) e-commerce services and develop and manage a network of B2B e-commerce services. 13:05 ET Pacific Century Cyberworks (PCCLF) 2.15 +0.81 (+60%): Momentum players moving stock of Chinese Internet incubator up on heavy volume on apparently no news. Merrill Lynch, Hong Kong, put out an Oct 15 note with a NT/LT "buy" on the stock. CMGI owns 5% of the company, and PCCLF also owns 5% of CMGI. The company also owns 23% of Softnet (SOFN), 25% of Silkroute, 3% of Clarent (CLRN), and 20% of Stareast (publicly traded in Hong Kong), as well as numerous other Asian Internet companies. <<Pacific Century Cyberworks has been mentioned in...Business Week... December 27, 1999 issue: TABLE Asia's Top Tech Picks PACIFIC CENTURY CYBERWORKS Hong Kong 0.90(price)neg.(p/e) Cyberconglomerate poised to bring Asia online

To: Tom_ who wrote (39)	12/22/1999 9:02:00 PM
From: John T. Hardee	Read Replies (1) \| Respond to of 4541

News from HK market Dec 21,1999 - 12:26:50 HKT int.quamnet.com Pacific Century CyberWorks (1186) may spin off some of its business for listing on Nasdaq, according to South China Securities. The market rumour has it that the issue price would be US$2.00 per share. South China forecasts that CyberWorks will see $10.75 in the near term and reach $15.00 within 12 months. iQuamnet Newsj HK Market web site - quotes int.quamnet.com

To: Tom_ who wrote (39)	12/23/1999 2:15:00 AM
From: Tom_	Read Replies (1) \| Respond to of 4541

12/17 Lehman "Buy" reiteration. -- SL: Pacific Century CyberWorks: Teams With NetCel in E-Commerce Venture -- 08:31am EST 17-Dec-99 Lehman Brothers (Stephen McKeever, 2869 3835; Ravi) ------------------------------------------------------------ Ticker: 1186.HK 52wk Range: HK$0.15-HK$9.15 Rank(Curr): V1-Buy Price : HK$8.55 Price Target: NA Rank(Prev): V1-Buy Today's Date: 12/17/99 ---------------------------------------------------------- DO NOT DISTRIBUTE TO RETAIL CLIENTS BEFORE CHECKING STATE BLUE SKY RESTRICTIONS. ------------------------------------------------------------ PCCyb has announced the outline of its e-Commerce strategy through the creation of a joint venture, Total E-Comm, with NetCel Holdings. * Three JVs are to be established initially under PCCyb and Total E-Comm to provide end-to-end e-Commerce services to PCC's broadband ISP platform, companies within the Cyberworks Ventures stable, and other companies that wish to establish e-Commerce operations. * We view the establishment of these joint ventures as positive as it represents the first concrete steps towards the implementation of PCCyb's e-Commerce strategy alongside an experienced partner that can help to accelerate the execution of the company's strategy. Pacific Century CyberWorks has announced the formation of a 50/50 joint venture with NetCel, Total E-Comm. PCCyb will inject US$30 million into the JV while NetCel will inject NetCel360, a comprehensive e-Commerce service provider. Total E-Comm will hold 75% of NetCel360 and solicit the participation of other strategic partners for the remaining 25% stake. Likely partners could be companies such as UPS, who would be able to provide logistics, financial, and legal services. Through NetCel360, and other potential e-Commerce ventures, Total E-Comm hopes to provide a complete outsourcing solution for any business in Asia that wishes to participate in e-Commerce. Services to be offered include consulting, web solutions, customer/call center services, logistics, and financial services - all crucial components for making e-Commerce transactions a reality. NetCel360 is expected to start operations in 2Q00 in five Asian countries: Hong Kong, Japan, Singapore, Australia and Malaysia. In 2001, the service is to be extended to Taiwan, Korea, Philippines and New Zealand. Target customers are multinational and Internet companies operating in the Asia region as well as Asian conglomerates. PCC and companies held within Cyberworks Ventures will be able to leverage the expertise of NetCel360 and will provide the first group of customers. PCCyb will form a JV, eNOW, with Total E-Comm to manage the e-Commerce side of the PCC broadband business. In addition, another JV will be set up to help PCCyb's venture companies to set up their e-Commerce businesses. NetCel's strength lies with its management team. The founder of NetCel, Phillip Kelly, was the Asia-Pacific president of Dell Computer, a company renowned for its streamlined supply chain and a pioneer of online computer sales. Under Kelly's leadership, Dell created a business with sales of more than US$1 billion. CONCLUSION AND RECOMMENDATION We believe that PCCyb's strategy to provide comprehensive end-to-end e-commerce service is a first in Asia. Moreover, the alliance with NetCel means that the company has aligned itself with a strong strategic partner to help implement its strategy. We are also encouraged by the fact that this development represents another step forward by the company to flesh out its strategy to exploit the explosive growth we expect for Internet usage, online advertising and e-commerce in the Asian region. We reiterate our V1-Buy recommendation on Pacific Century Cyberworks. ~~~~~~~~~~ A Lehman "Buy" is a "1" rating. Best wishes, Tom