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Technology Stocks : Pacific Internet Next HOT IPO? -- Ignore unavailable to you. Want to Upgrade?

To: md1derful who wrote (709)	6/9/1999 11:50:00 AM
From: Nanchate	Respond to of 912

PCNTF just printed $43 which is a breakout signal breaking a double top. For those who have waited for a signal to buy this would be it on the dip. Nanchate

To: md1derful who wrote (709)	6/9/1999 11:56:00 AM
From: Nanchate	Read Replies (1) \| Respond to of 912

Singapore PacNet to Add E-Commerce to Basic Services Singapore, June 9 (Bloomberg) -- Pacific Internet Ltd., Asia's first Internet company to trade on Nasdaq, plans to get into e-commerce in some of its markets as it looks to supplement its main Internet services. The move could help change PacNet's image as a mere Internet service provider and bring it in line with companies such as America Online Inc., which offer content and e-commerce to customers. ''Our core is Internet, pure Internet,'' Nicholas Lee, PacNet's chief executive, said in an interview. ''Depending on the market, the requirement is slightly different.'' He didn't provide any forecast or estimate on how much the new proposal is likely to boost the company's earnings. PacNet, as the Singapore-based company is commonly called, also offers Internet services in Hong Kong and the Philippines, and recently said it's buying a medium-sized online company in Australia. For Singapore and Hong Kong, two of Asia's most advanced online markets, Lee says it's adding ''value-added'' services. Last week, it introduced a credit card with Standard Chartered in Singapore, to offer its customers discounts when they shop online. It also started an Internet mall earlier this year. Expansion In Australia, PacNet plans to branch out into e-commerce, providing some content, as it looks for more acquisitions in the country. Last year, Australia led Asia outside of Japan in e- commerce, with $432 million in Internet sale transactions, International Data Corp., or IDC, said. For India and China, two key markets it plans to expand into in the next year, Lee says the growth will be enough sustain its Internet services. The two countries will lead the region's subscriber growth, IDC predicts, with the number of Internet users expected to expand 35 percent a year until 2003 to reach 57.5 million customers. Still, setting up new offices can be expensive. Lee estimates it will cost about $4 million for each location. Expenses include operational expenses, buying bandwidth and paying employees at each location. Returns PacNet will open offices in Melbourne and Sydney this year. Lee expects profit to drop this year as it sets up a strategy for more growth down the road. ''Once you get into the stream, the returns are very, very fast,'' he said. He expects most new ventures to break even after the second or third year. The company's Philippines operations was profitable in the first year after it entered that market in September 1997. PacNet shares rose 3/8 to 40. The stock has more than doubled since its first trading day on Feb. 5, outpacing the Bloomberg U.S. Internet Index, which gained 26 percent during that period. It's also one of few profitable Internet companies on the Nasdaq. Of the 110 stocks on the Internet index, only a dozen are profitable. PacNet is a unit of Singapore's SembCorp Industries Ltd., Southeast Asia's largest civil engineering company. SembCorp rose 3 cents, or 1.3 percent, to S$2.38. Jun/09/1999 6:13