KWIC..Company is going after the B2B market.. This could be a BIG move
for the company. Very Low PE and they are making profit.. Three strong
buy on the company..
Share-Related Items
Market Capitalization $69.1M
Shares Outstanding 9.07M
Float 1.40M
Book Value (mrq) $5.04
Earnings (ttm) $0.94
Earnings (mrq) $0.25
Sales (ttm) $9.72
Cash (mrq) $0.43
Valuation Ratios
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KENNEDY-WILSON INC. FORMS GLOBAL TECHNOLOGY CORPORATION BUSINESS/TECHNOLOGY EDITORS NEW YORK--(BUSINESS WIRE)--JAN. 26. 2000-- HIRES HOCH CHO AND CHARLES SONG AS MANAGING DIRECTORS TO HEAD GROUP
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NEW YORK--(BUSINESS WIRE)--Jan. 26. 2000--
Hires Hoch Cho and Charles Song as Managing Directors to Head Group
Technology-related Real Estate Investments Broaden KWI's Capabilities
Kennedy-Wilson, Inc. (Nasdaq: KWIC.O) today announced the formation
of the Kennedy-Wilson Global Technology Corporation (KWGT). This group
is dedicated to managing the company's current business-to-business
venture capital investments and to building an infrastructure to
incubate additional business-to-business investments in the U.S. and
Asia. The Group will also manage technology related real estate
investments as the world's landscape is being transformed from a
collection of buildings to smart networks connected by fiber.
"To date, we have had tremendous success in making principal
investments and using that as a track record in building an asset
management business with recurring revenues and a share of the
profits," says William McMorrow, Chairman and CEO of Kennedy-Wilson,
Inc. "Our abilities in the commercial and residential real estate and
non-performing asset pools have given us the opportunity to create
Kennedy-Wilson managed funds with some great partners focusing on
those asset classes in the U.S. and in Japan. We've been successful by
backing entrepreneurs and giving them access to the contacts and
resources we have here at Kennedy-Wilson."
KWGT will be overseen by Mr. McMorrow and managed by Hoch Cho and
Charles Song. Mssrs. Cho and Song were previously with Cahill, Warnock
& Company, a private equity firm based in Baltimore. Mr. Cho served as
vice president at that company where he oversaw a full range of
investment, due diligence and portfolio company management activities
for its technology and business services companies. At Cahill,
Warnock, Mr. Song also oversaw a full range of investment activities
and portfolio company advisory work.
Kennedy-Wilson has already made investments in PropertyFirst, a
leading commercial multiple listing company on the Internet; Hotwire,
Inc., a broadband office solution company; and eProperty.com, the
Company's proprietary online real estate transaction and services
company. On January 24th, Kennedy-Wilson closed its largest investment
to date, a bridge financing for infocrossing, Inc., a collocation
services provider.
"These technology investments are reflective of continued growth
at Kennedy-Wilson and point to our ability to leverage our existing
relationships," explains Mr. McMorrow. "For example, our abilities in
the commercial brokerage business led to our investment in
PropertyFirst. Our access to building owners through the 72 million
square feet we manage made us an investor and partner in Hotwire. Now
we can offer our building owners the capability of fiber access that
can be utilized by their tenants. Our ability to source potential data
center sites in the U.S. and Japan and help finance those sites makes
us an ideal investor and partner for Infocrossing, Inc.
"Ultimately, Kennedy-Wilson's technology investments will enable
us to provide a wide range of Internet business solutions to our
clients," affirms Mr. McMorrow.
Founded in 1977, Kennedy-Wilson is a diversified international
real estate services firm. It provides real estate investment sales,
property management and leasing services, construction management,
development and acquisition, and technical consulting services
worldwide through its offices in Los Angeles, San Francisco, New York,
Chicago, Washington D.C., Dallas, Houston, Minneapolis, Tokyo and Hong
Kong. As the premier U.S.-based real estate services firm in Japan,
Kennedy-Wilson provides brokerage, management and investment services
to Japanese and international investors from its six offices throughout
the country, including Tokyo, which serves as a regional headquarters.
This release may contain forward-looking statements as well as
historical information. Statements of goals and strategies and words
such as "plan", "believe", "anticipate", "expect", "objectives",
"forecast" and "predict", and other similar words are intended to
identify forward-looking statements. These forward-looking statements,
which are included in accordance with the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995, involve risks,
uncertainties and other factors that may cause the company's actual
results performance or financial condition to be materially different
from any results, performance or financial condition suggested by the
statements in this release.
--30--jp/ny* db/ny
CONTACT: Rubenstein Associates, Inc., New York
Public Relations
Dawn Rowan, 212/843-8088
drowan@rubenstein.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: BANKING REAL ESTATE BUILDING/CONSTRUCTION
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