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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (9679)	2/8/1999 12:00:00 PM
From: Louis Riley	Read Replies (1) \| Respond to of 122087

This story makes me grin. As if 50X forward earnings (with the stock at $36) is expensive for an ISP? Especially one that will be growing dramatically off a small (<200,000) subscriber base? I mean, they do have earnings. Heck, this is probably the cheapest profitable pure play net stock in the world. I like it: "The AOL of Singapore". BTW, I would imagine every Lehman, Bear, and Cowen client that got an allocation has flipped it by now... << Monday February 8, 4:23 am Eastern Time SembCorp Falls on PacNet Disappointment SINGAPORE, Feb 8 (Reuters) - SembCorp Industries Ltd shares closed sharply lower in heavy trading on Monday after the stunning debut of its Internet unit failed to fire up its share price. The stock ended down nine cents or 4.3 percent at the day's low of Singapore $2.00 after hitting a high of S$2.22 in early dealings. It was the most active stock for the day, churning up volume of 19.7 million shares. ''Those who bought SembCorp for PacNet (Nasdaq:PCNTF - news) are bailing out today. The stock is just not going as expected,'' a dealer with a Singapore brokerage said. SembCorp's Pacific Internet unit made its debut on the Nasdaq market last Friday, rising to a high of US$88.00 before ending at $48, up $31 or 182 percent up from the company's initial public offer price of $17 a share. ''Everybody is talking about the Internet bubble now. It could burst tonight or any other night. So the punters who went in are just getting out,'' the dealer said. Analysts told Reuters earlier that PacNet's share price was risky and unsustainable based on its earnings growth in the next couple of years. An analyst with an American investment firm said based on PacNet's closing price on Friday, the company was trading at 66 times its forecast earnings for 1999. -- Singapore Newsroom 65-870-3085, Fax 65-776-8112 -- Email:1