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(Post 1 of 17179) 05/04/1999.21:52:00 |
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Anyone with any comment on this company and the possible $$$ that it can reach within the next couple of weeks. Heard a rumour that it is now worth about S$10.00 and Tricom (the company that it is purchasing had shot up 12 times in HK). eom. |
| (Post 2 of 17179) 05/05/1999.23:20:00 |
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the comments in stock talk by roger moore hold any substance? sounds convincing. |
| (Post 3 of 17179) 08/02/1999.09:54:00 |
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Have decided to join in the fun. With Mr Li owning over 70% of PCRD, he is certainly someone to bet on. Will still deem this as a risky speculation pending the takeover of Tricom by PCRD. Shares did not go up as much as I thought and that is why I went in. Announced in SES yesterday : ---------------------------------------------- The Directors of Pacific Century Regional Developments Limited ("PCRD") wish to announce that Pacific Century Diversified Limited ("PCD"), a company which is wholly owned by Mr Li Tzar Kai, Richard (the Chairman and ultimate controlling shareholder of PCRD) has entered into an agreement with Intel Pacific, Inc. ("Intel") pursuant to which Pacific Convergence Corporation, a company which is jointly owned by PCD and Intel, will be controlled by Tricom Holdings Limited ("Tricom"). As announced on 4 May 1999, PCRD and Pacific Century Group Holdings Limited entered into an agreement with Tricom, Star Telecom International Holding Limited and China Strategic Holdings Limited pursuant to which Tricom will become a subsidiary of PCRD upon completion of the agreement. A joint announcement by PCD and Tricom, which forms Part B of this announcement, is concurrently being released in Hong Kong and contains detailed particulars of the agreements and arrangements that have been entered into between PCD, Intel and Tricom. Completion of the various transactions between PCD, Intel and Tricom will only occur when PCRD becomes the controlling shareholder of Tricom. PCC was established in February 1998 as a joint venture between PCD and Intel initially to deliver broadband data services to the Asia-Pacific region. Tricom intends to continue to develop the business of PCC in accordance with the business objectives agreed earlier by PCD and Intel. Intel continues to have an effective shareholding interest of 40% in PCC. Intel is entitled to exchange this interest in exchange for shares in Tricom. As earlier announced, it is intended that Tricom will expand its business activities to include technology related businesses. It is proposed that the name of Tricom be changed to Pacific Century Cyberworks Limited once PCRD controls Tricom. Pending this announcement, the shares of PCRD were suspended from 9.00 a.m. on Friday, 30 July 1999. PCRD is applying to the Stock Exchange of Singapore to resume trading from 9.00 a.m. on Monday, 2 August 1999. Holders of securities in PCRD and investors are advised by the board of directors of PCRD to exercise caution in their dealings in securities of PCRD as the transactions described in this announcement may or may not materialise as the transactions are subject to the satisfaction of various conditions. |
| (Post 4 of 17179) 08/02/1999.10:07:00 |
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Forgot to attach Part B. Read this for the shareholding structure. Also note that the restructuring of Tricom is supposed to be completed by tomorrow. With Intel in the picture, this will probably create the internet play for China when the US market catches on to this deal. Wish me luck !
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| (Post 5 of 17179) 08/03/1999.21:02:00 |
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Restructuring completed. Announced today : Further to the announcement made by Pacific Century Regional Developments Limited ("PCRD") on 3 May 1999 in relation to the Acquisition and Disposals of Tricom Holdings Limited ("Tricom"), PCRD wishes to announce that the Acquisition and Disposals were completed on 3 August 1999.A joint announcement in relation to the Acquisition and Disposals issued by PCRD, Pacific Century Group Holdings Limited and Tricom is attached herewith.
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| (Post 6 of 17179) 08/03/1999.21:52:00 |
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I have a number of emails asking me how to value this share given the announcement. The simple way of looking at this is that Intel is subscribing for 77 mil shares (1.07%) at HK$5 a share, which works out to be S$1.08 / share. Pacific Century Development ( the listed arm in Singapore) will get 60.46% of Tricom and this works out to be 4,350 mil shares. At S$1.08 per share, this works out to be worth S$4.6 billion. Divide this by the 272 mil shares in issue, each share is worth $16.91, assuming the valuation that Intel agreed for each share. Folks, there must be something amiss in my numbers as the deal looks too good to be true. I understand that there are options tied so that Intel can buy into more shares but on paper, this is what it appears to me. It is difficult to tell from today's announcement where the 1 bil placement shares come in. I think these are separate from the shareholdings of Pacific Century Dev. |
| (Post 7 of 17179) 08/06/1999.12:32:00 |
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Tricom has been trading as a consolidated share ( previously was trading as Tricom and 5 original Tricom shares = 1 consolidated Tricom share ) since Tuesday. It is trading today in the region of $3.35, which is down from the $5 after consolidation of the original share at $1 each. Each Pacific Century share is worth (4.3 bil Tricom shares divide by 272 mil shares) = 15.8 Tricom shares, which is worth HK$53 or S$11.50. Hence getting them now is already a discount. As highlighted before, this will make a good story in the US and am glad that the report by BT today agrees with my views. ----------------------------- In a move seen as a prelude to a US stock market listing, Richard Li's Tricom Holdings yesterday said it has appointed the Technology Group of Credit Suisse First Boston to place out 8.7 per cent of the company's share capital. The Technology Group is one of the most active players in the US Internet new issue market and its appointment suggests that a future listing for Tricom or parts of it on Nasdaq, the US market for technology stocks, cannot be ruled out. CSFB Technology Group was responsible for the initial public offerings of several Internet heavies including Cisco Systems, Ascend communications, Netscape Communications and Amazon.com. This year, it brought Freeserve, MP3.com, Commerce One, Allaire, Phone.com and Gadzoox Networks to the market. Tricom, to be renamed Pacific Century CyberWorks, said the acquisition of a controlling stake by Pacific Century Group was completed yesterday. Following this, it has appointed the Technology Group to be the lead managing placement agent for 560 million shares in CyberWorks owned by a group of shareholders including Star Telecom, the former controlling shareholder of Tricom. The shares will be sold through a global private placement to be led by CSFB and major financial shareholders. The placement will enhance CyberWorks' profile in the international market and broaden its investor base beyond Singapore and Hongkong. The placees have signed legally binding undertakings with CSFB to lock up their shares in CyberWorks until Oct 30 when the proposed placement is due to be completed. CyberWorks said it intends to commence international road shows in September. The company is 68 per cent owned by Singapore-listed Pacific Century Regional Developments. Last week, Intel Corp, the world's largest computer chip manufacturer, said it would take a 13 per cent stake in the company. Both Intel and Mr Li's private company, Pacific Century Group, had agreed to inject Pacific Century Convergence -- which plans to launch an interactive, broadband Internet service to be accessed through the television -- into CyberWorks. Meanwhile, Lehman Brothers has issued a report valuing CyberWorks at US$7.8 billion (S$13.3 billion), or HK$5.31 a share on a fully diluted basis. This is 58 per cent higher than its yesterday's close of HK$3.35. In his report titled An Internet Star is Born, analyst Ravi Sarathy said he has upgraded CyberWorks from a buy to outperform. "We ... would buy the stock at current levels as one of the very few ways to gain broad exposure to the explosive growth of Internet-related businesses in the Asian region." He added that his sum-of-parts value for CyberWorks at HK$5.31 a share is derived from Pacific Convergence and CyberWorks Ventures, the group's venture capital arm which, based on current deals pending, is assessed to have a value of US$1.1 billion. The Lehman analyst reckons that Pacific Convergence is worth in the region of US$3.5 billion to US$7 billion using a discounted cash flow basis, even though it isn't due to launch its service until the first quarter of next year. In contrast, the property part of the group which will see real cash flow sooner than the Internet part, is valued at US$1.3 billion. |
| (Post 8 of 17179) 08/06/1999.13:14:00 |
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I have a number of emails asking whether this is the right time to buy. I really do not know. I sold all my Comfort shares to buy into this when it went down to $5. With the tension in China, I am a little concerned. As stated earlier, this is a high risk play with high rewards. I have set aside funds to continue buying into this if it goes down further over the next few weeks. There is hype in the share price today as a result of the BT article. |
| (Post 9 of 17179) 08/06/1999.15:37:00 |
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Folks, the price is going crazy and I have just bought a few more lots at $6.05. There are lots of buyers and it looks like it will go much higher before the close. I am holding on to these and will be buying into any weakness. |
| (Post 10 of 17179) 08/06/1999.18:19:00 |
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Wow, what a ride. In the last 12 min, someone bought over 400 lots of this....that is over $2.4 mil dollars worth. I can understand why. This share is still 45% undervalued just looking at the price of Tricom Holdings which closed at HK$3.22 today. If Tricom is granted a listing on Nasdaq, it will have to be higher than the HK$5 / share that Intel paid. And it will certainly be positioned as the internet stock for China's network infrastructure and that should give it a thumbs up at listing. At HK$5 / share, Pacific Century should be worth $17 per share. Sets the mind boggling if it list any higher than HK$5 / share and the multiples that Nasdaq will give for such a stock. Definitely not for the faint hearted ! |
| (Post 11 of 17179) 08/07/1999.01:16:00 |
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This NASDAQ listing of a internet stock reminds me of PCNTF (Pacific Internet)'s listing in Feb. Remember d unanimous recommendations by broking houses on SCI, d mother company? Remember analysts busy calculating d increase in SCI's fair value after PCNTF's listing? ...and finally d big disappointment? Don't meant to pour cold water but just to state that a NASDAQ listing may or maynot b a big "huha" after all... Happy Trading... |
| (Post 12 of 17179) 08/07/1999.08:19:00 |
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Thanks for your comments, Echo. Yes, this is certainly high risk...but high rewards as well. In my portfolio, I usually set aside 10% for high risk investment. Previously, I bought warrants with this 10% but now most warrants are still overpriced. Those who followed my call on LKT warrants know what kinds of return I am looking for in these high risk investments. OK, let me summarise why Pac Century is attractive to me : 1. Internet fever in the US is hot and they know that China represents the largest marketplace for internet in the world. That is why they pay high premiums for websites like China.com. Now imagine what would happen when they launch Tricom and position it as the internet network infrastructural company in China. 2. Imagine when investors are also told that Intel has invested US$50 mil for a 1% share in the company and has the option to increase this to 10%. Knowing how US listed companies work, they would have certainly done their due diligence for investments of this size. 3. Imagine they are also told that this company is the forerunner in the bid for the massive HK Cyberport project. 4. Imagine when investors are also told that the substantial owner and driver is Mr Li's son and that Mr Li is one of the most respected & influential businessman in China as well as being one of the richest man in the world. Knowing how good the Americans are at marketing a concept, I am sure that they will blow this company beyond its foundations and will create such a hype that this will be a must buy internet company that is of the same league as Amazon or Yahoo. As regards to a comparison with Pac Net, there are major differences. PacNet is one of many internet providers. Tricom stands by itself as the future internet infrastructural company in Asia. PacNet represents a small portion of Semb Corp's portfolio. Tricom is Pac Century's only portfolio and is 73% owned by Mr Li. Hence, I am sure he will want to extract value when Tricom is listed. |
| (Post 13 of 17179) 08/07/1999.08:31:00 |
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Agreed with all of the above. Lots of imagining going on, though. Problem is with the timing. Net and tech stocks are generally falling out of favour for the moment, and Tricom could suffer from the fallout. In any case, I'm not a high risk investor, so have never considered Pacific Century. All the best! |
| (Post 14 of 17179) 08/07/1999.09:23:00 |
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Thanks Kind Doctor. Believe me that the Americans are very good at that. Where else in the world would one value a company who recently announced 4th quarter losses of 21% of their turnover and who has not made a profit yet and is capitalised at US$14.5 bil ( using a share price of US$89 / share yesterday ...at its peak, it used to be US$200 / share ! ) Yes, I am talking about Amazon.com. The numbers tell you that for every dollar that they receive, they lose a whooping 21cts ! My experience with the US is that their valuation criteria is very different from Asia. Hence, a lot of Asian investors do not really appreciate the potential that such differences in valuation mean to the eventual listing price. Hence, the current valuation of Tricom at US$5 bil may sound a lot to Asian investors...but it is nothing in the US ! |
| (Post 15 of 17179) 08/07/1999.09:47:00 |
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By the way, didn't PacNet announced their results overnight? Someone pls check it out and post for our benefit, esp SCI shareholders. Thanks. |
| (Post 16 of 17179) 08/07/1999.09:54:00 |
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| (Post 17 of 17179) 08/07/1999.09:56:00 |
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| (Post 18 of 17179) 08/07/1999.14:28:00 |
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PacCentury – Again, testing its 50days sma approx. $6.388 1. While 100days sma has been encouraging, 9/18days ema & 50days sma remains flat. 2. Drawing resist level way back 10/6[high of $8.00], we might view the chart as an unusual ‘descending triangle’ with baseline approx. $5.00 3. Notice of the weakening in volume, which maybe a –ve impact added to point 3. 4. A closing above $6.40 (with improvement in volume) will brk the mentioned pattern on point 3, but may well resist below $8.00 for further consolidation. Bottomline – Feel uneasy on the weakening in VOLUME, fishy !  |
| (Post 19 of 17179) 08/09/1999.08:14:00 |
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LOS ANGELES (Reuters) - Computer chip giant Intel Corp. said Sunday it was investing in a new joint venture with Hong Kong-based Pacific Century Group in an effort to bring high-speed Internet access to Asia. Under the deal, Intel's existing joint venture with Pacific Century, known as Pacific Convergence Corp., would be folded into a new company, Pacific Century CyberWorks, Claude Leglise, vice president of Intel's home products group, said in an interview. Pacific Century Group, a private company controlled by Richard Li, the youngest son of Hong Kong tycoon Li Ka-shing, is creating CyberWorks out of its acquisition of telecommunications firm Tricom Holdings Ltd. Intel would invest $50 million (HK$389 million) in CyberWorks and would also supply chips, software and systems to form the backbone of the new company's broadcast and Internet business. The investment, combined with Intel's share of the earlier joint venture, would give the Santa Clara, California-based chipmaker a 13 percent stake in CyberWorks. Leglise said the deal would help Intel get a foothold in Asia's Internet growth, and resembled a deal announced in June to supply U.S. telecommunications firm Hughes Network Systems Ltd. with chips for set-top boxes that will combine satellite TV with speedy Internet access. `Hughes is obviously an agreement for the Americas and what you see here is another brick, if you will, to cover Asia,' Leglise said. Li said in June the Pacific Century Group aimed to offer broadband, or high-speed, Internet access to Asia through satellite and cable television lines. The group has also said it plans to use CyberWorks to help lure investment to Hong Kong's Cyberport project, a $1.74 billion (HK$13.6 billion) high-technology business park aimed at computer and information companies. Leglise declined to forecast how much Intel's sales of equipment to the venture would be worth, but said, ``The Asian market is very large and is growing very quickly.'' `From Intel's perspective, we see opportunities in China, India, Malaysia and all these countries as very, very attractive,' he said. By combining television service with Internet access, Leglise said the venture had the potential to tap tens of millions of homes in Asia that could not afford to buy a personal computer. `One of the things we are trying to do is to bring the Internet to devices other than the PC. We have to recognize that there are 1.5 billion TVs in Asia, and often they are they only screen in the house,' Leglise said. |
| (Post 20 of 17179) 08/09/1999.08:22:00 |
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Intel's announcement : Intel to Invest US$50 Million in Pacific Century CyberWorks; Intel to Supply Comprehensive Set Top Solutions HONG KONG, Aug. 1, 1999 - Intel Corporation and Hong Kong-based Pacific Century Group (PCG) today announced agreements to enable broadband Internet deployment in Asia. Today's announcement is comprised of three related elements, subject to the completion of PCG's acquisition of a controlling interest in Tricom Holdings Limited, which will subsequently be renamed Pacific Century CyberWorks Limited: (1) Intel will invest US$50 million (HK$389 million) in Pacific Century CyberWorks; (2) Intel and PCG will allow their Pacific Convergence Corporation (PCC) joint venture to be acquired by Pacific Century CyberWorks; and (3) Intel will supply comprehensive set-top and server-based solutions using the Intel architecture that will help deliver the combined broadcast and Internet services generated by PCC. "Our goal with these agreements is to speed the deployment of broadband Internet-based services to Asia," said Claude Leglise, vice president and general manager of Intel's Home Products Group. "We also are pleased that PCC has chosen Intel to be the supplier for this new set-top infrastructure." "The injection of PCC into Pacific Century CyberWorks is a logical step," said Alex Arena, managing director of Pacific Century CyberWorks. "Both PCC and Pacific Century CyberWorks will benefit from the potential synergies of developing the broadband service business through one company. In addition, Intel's technology expertise and Internet solutions are expected to provide strategic value to our service." Today's announcement builds on the PCC joint venture formed by Intel and PCG in March 1998. This venture was formed to bring high-speed Internet services to Asia. PCC is expected to become a wholly owned subsidiary of Pacific Century CyberWorks. Intel's planned investment in Pacific Century CyberWorks, combined with its initial stake in PCC, would give Intel shares equivalent to a 13 percent stake in Pacific Century CyberWorks. About The Companies Pacific Century Group is a private company owned by Richard Li and the company's senior management. Its primary businesses are digital media development, financial services and infrastructure. The group also makes investments in, and acts as majority partner for, selected Asian market initiatives. Additional information is available at www.pcg-group.com. Tricom Holdings Limited will be renamed Pacific Century CyberWorks Limited by Pacific Century Group upon completion of PCG's acquisition of a controlling interest in Tricom Holdings Limited. Listed on the Hong Kong Stock Exchange, the company will invest in local and international information technology and Internet businesses. Pacific Century CyberWorks will become the technology flagship of Pacific Century Group. Intel, the world's largest chip maker, is also a leading manufacturer of computer, networking and communications products. Additional information about Intel is available at www.intel.com/pressroom. |
| (Post 21 of 17179) 08/09/1999.08:43:00 |
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A good place to catch up with the latest news on this share is at http://www.pcg-group.com/press.html |
| (Post 22 of 17179) 08/09/1999.13:35:00 |
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Pacific Century Related News TRICOM: Funds lock-up to stem selling By Louise Lucas in Hong Kong (August 5 1999) Tricom Holdings, the listed vehicle for Hong Kong's controversial cyberport project, is seeking to stem selling in its shares - which yesterday plunged 25 per cent - by arranging a lock-up of funds. According to market participants, investors holding some 9 per cent of the issued share capital of Tricom have agreed to a moratorium on selling until October 30, pending completion of an international placement. This placement, led by CSFB, will aim to lure more stable institutional investors through an international roadshow. Bankers speculated that an added sweetener might be offered in the form of a secondary Nasdaq listing. Tricom's meteoric rise - it soared more than 1,000 per cent on May 4 after it was revealed as the future home for the Cyberport development project - has been followed by some highly volatile trading. David Webb, a corporate financier turned investor who runs the Webb-site.com web site, said a fair value for the shares is HK$1.28. Tricom yesterday closed at HK$3.30, down HK$1.08 on the day. Tricom, which will be renamed Pacific Century CyberWorks, was destined to surge after Richard Li, youngest son of property tycoon Li Ka-shing and himself a rising business star, achieved a back door listing for Cyberport by acquiring Tricom and reversing into it. Mr Li's company won the HK$13bn US$1.67bn) cyberport project, a residential and office complex aimed at attracting high-tech tenants, by offering state of the art technology and heavily discounted rents. The win was contro-versial, as the contract was not awarded by tender. However, Mr Li now believes the Cyberport project could be the least financially exciting arm of his new company. Analysts are more interested in the prospects for the venture capital unit, which will invest in entrepreneurial companies. So far eight have been signed up, and these are also likely to become Cyberport tenants. On Monday Tricom announced a US$50m investment by Intel of the US. Under the deal Pacific convergence Corporation, Tricom's former joint venture with Intel, will be folded into Tricom with Intel owning 40 per cent. The venture is believed to have a market value of $3.1bn-US$6.8bn - although some analysts say this is highly dependent upon future take-up of the company's broadband internet business. However, Mr Li said the company had already signed up with 10m cable TV subscribers. Local cable TV operators across Asia have been signed up as effective franchisees to deliver the PCC internet service to viewers. "We have a 110m cable TV audience which are potentially our clients," he said. |
| (Post 23 of 17179) 08/09/1999.14:12:00 |
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Thanks Surfer for the info. The link to David Webb's website on Tricom is http://webb-site.com/articles/reckoning.htm Good to have David's view as this balances the media's optimistic opinions. As for me, there is enough hype around this to be a winner in the US but I will continue to monitor the shares closely. |
| (Post 24 of 17179) 08/10/1999.17:43:00 |
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In BT today : RICHARD Li's newly acquired and restructured Pacific Century CyberWorks plans to offer products and services through its satellite Internet delivery network to a market covering over 10,000 cable operators and 110 million cable TV households. Mr Li, who is chairman of the Pacific Century Group, said the company has signed up with cable operators which have 10 million subscribers and plans to convert as many users as possible to the group's distribution system. The company essentially plans to use its satellite-based Internet delivery network to interface with cable television providers in Asia to reach millions of Asian consumers. Mr Li, who presented CyberWorks' strategy yesterday, also revealed that Pacific Century Convergence and sister CyberWorks Ventures, both part of CyberWorks, could hire up to 6,000 people in the next few years, mostly located in Hongkong. Formerly known as Tricom, CyberWorks controls four main vehicles, namely its property holdings, CyberWorks Ventures, PCC and the high-tech cyberport project. CyberWorks yesterday said infrastructure work on the cyberport project will begin next month with the project forming the key component of CyberWorks' integrated Internet strategy. The first phase of the project, comprising 10,000 sq metres of apartment space and 23,000 sq m of office space, will be completed in 2001. Cyberport will provide the headquarters for CyberWorks, PCC and CyberWorks Ventures and their funded start-ups. Major international IT companies such as Yahoo!, Softbank, IBM and Microsoft have also signed up for space in the project. PCC said it plans to be the pre-eminent Internet service, content and e-commerce provider in Asia. It will also position itself to be the owner and enabler of broadband network access including forming alliances with third parties to provide content. CyberWorks Ventures will also fund companies to provide applications and services. Mr Li said Ventures hopes to invest in strategic stakes of more than 10 per cent but less than 50 per cent in such companies so that entrepreneurship and management would not be affected. The venture capital arm of the company is looking at 40 investment deals involving small Internet-related companies and may announce 10 agreements in the near future. |
| (Post 25 of 17179) 08/10/1999.17:59:00 |
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Pacific Century Group just announced that they repurchased 861,000 shares at an average of $5.87 on the 6th of this month to bring their total shareholdings to 230,987,823 shares or 77.59%. |
| (Post 26 of 17179) 08/12/1999.18:43:00 |
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Pacific Century Group announced that on the 10th, it bought another 1,610,000 shares at $5.94 bringing their total shareholding to 232,597,823 or 78.13%. The way they are going, there won't be many more shares floating around! I will certainly hold all the shares that I have bought and will keep them for the medium term. |
| (Post 27 of 17179) 08/15/1999.09:48:00 |
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Pacific Century - Mark by the arrow, this was the cause that slows down the downtrend. 1. This is a similar situation where I got caught on SpFin wt99. 2. ROC working hard to pullback to the +ve territory, probably another +ve close on Monday will add to the contribution. Bottomline : $6.45(50days sma level) remains the crucial point to beat.  |
| (Post 28 of 17179) 08/17/1999.17:23:00 |
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Glad to see this share at $6.50 today. Warr, looks like it is on an uptrend as opposed to the rest of the market. I will continue to hold as I feel that there is still a lot of potential in the share. In Hong Kong, Tricom closed at $3.30, valuing Pac Century at S$11 per share. Wish me luck ! |
| (Post 29 of 17179) 08/17/1999.20:58:00 |
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Pac-Cent - Marvellous effort ! Manage to edge above its 50days sma level. 1. To be cautious, any near-term should met support approx. $5.95 (ie, support level has risen !). 2. ROC back on +ve ground for the 2nd consercutive day (this should credit little bit to the +ve factor). 3. High chance of heading towards $7.30 - $7.70 range where multi-resist is observed. 4. Oldman, wish u all the best !!  |
| (Post 30 of 17179) 08/17/1999.21:26:00 |
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Thanks Warr. This is now the only upward excitment left for me! |
| (Post 31 of 17179) 08/18/1999.21:30:00 |
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Reported in BT today: Pacific Century Cyberworks will pay US$7 million (S$12 million) cash for a 20 per cent stake in Outblaze, a developer of Internet portal applications. Outblaze will issue new shares representing 20 per cent of its enlarged share capital to a company owned by Pacific Century Cyberworks' venture capital arm. The deal, announced yesterday, is the first of a series of venture capital investments planned by Richard Li's Pacific Century Cyberworks. The new shares will dilute the 50 per cent stakes held by Outblaze founder Siu Yat and China Rich Holdings to 40 per cent each. Outblaze develops Internet portal technology and provides services including e-mail, message boards and online chat. Mr Siu said the company's products and services are provided to 7,000 websites and now have 1.5 million registered end users. He sees membership growing to five million by early 2000, and expects Outblaze to turn profitable by 2001. Kelly Cheng, China Rich chief financial officer, said Outblaze has monthly revenues of about US$10,000. Pacific Century Cyberworks shares rose HK$0.25 or 8.2 per cent to HK$3.30 yesterday. -- Reuters |
| (Post 32 of 17179) 08/18/1999.21:44:00 |
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Reported in HK Stock Exchange today : Members are requested to note that the name of Tricom Holdings Limited has been changed to "Pacific Century CyberWorks Limited". Accordingly, the stock short name of its ordinary shares (stock codes: 1186 & 2932) has also been changed to "PAC C CYBER-NEW" AND "PAC C CYBER-OLD" respectively with effect from today (18/8/1999). |
| (Post 33 of 17179) 08/18/1999.22:09:00 |
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Interesting article in Wall Street Journal on the 5th of Aug 99 : HONG KONG -- Pacific Century CyberWorks Ltd. will roll out a broadband Internet service in the first quarter of next year, targeting mainly India and China, said its chairman, Richard Li. In essence, Mr. Li plans to launch an Asian version of the U.S. high-speed Internet provider Excite@Home Corp. However, he hopes to reach 110 million households over the next several years, compared with Excite@Home's 620,000 subscribers gained over the past four years. Some analysts say Mr. Li's new Internet venture has good prospects, but note that Mr. Li may face competition sooner than he expects. Hong Kong-listed Pacific Century CyberWorks has been at the center of attention in recent days. On Sunday, Intel Corp. said it would invest $50 million in CyberWorks. Mr. Li said in an interview on Wednesday that Intel's stake in the firm goes far beyond that publicized investment. For the past three years, Intel quietly has invested a similar sum in Mr. Li's effort to develop the underlying technology, working with a Pacific Century team at centers in Sunnyvale, California, and Portland, Oregon. CyberWorks shares have been among the most volatile stocks in Hong Kong in recent days. Shares of CyberWorks, which was previously called Tricom Holdings Ltd., have risen more than seven times in value since Mr. Li began transferring his privately owned assets into a publicly listed vehicle. That rise in stock price comes despite a 25% fall in CyberWorks shares in Wednesday trading as many original investors in Tricom took profits. The shares fell to HK$3.30 (42.5 U.S. cents) each, down HK$1.10. Intel's participation is part of its publicly announced strategy to become an Internet company, with a growing interest in high-speed service. In June, it announced a venture with Hughes Network Systems, a unit of General Motors Corp.'s Hughes Electronics Corp., to provide broadband Internet service via satellite built around Intel and Hughes technologies. "The Internet is everywhere," said Intel's vice president, Claude Leglise, adding, "We know it's changing everything. One of the opportunities is to utilize the television structure world-wide to deliver new types of Internet-based services." CyberWorks had particular appeal as an investment, Mr. Leglise added, because of Mr. Li's prior track record. Mr. Li established Star TV in Hong Kong in 1990, and the satellite television start-up quickly grew to become Asia's leading cable company. Mr. Li's understanding of the local market was also a plus, Mr. Leglise said. CyberWorks claims it can deliver the Internet 500 times faster than conventional 28.8-kilobit-per-second modems. Existing cable networks will bring the service to home television sets and personal computers. The cable network will be linked to the Internet via satellite. Under Mr. Li's business plan, CyberWorks would reach 110 million cable-TV households in Asia, which are now served by about 10,000 cable operators. He already has struck agreements with 35 cable operators serving 10 million households, he says. The company will generate revenue primarily though subscriber fees and advertising. Mr. Li says he isn't worried about his ability to attract such large audiences in developing Asian countries at $40 a month. He will be targeting "the elite, the very top" in each country, he said. Existing competitors such as Cable & Wireless HKT currently provide broadband Internet services in Hong Kong. But Mr. Li says he isn't concerned about the competition after his earlier success with Star TV. Mr. Li sold the company to Rupert Murdoch in 1993 at a personal profit of about $400 million. But some analysts said it might not be so easy for Mr. Li to repeat his past success in building Star TV. "It's a good business plan, but eventually he's going to face competition from satellites," said Steven Shapiro, president of Intrepid Capital Management, a New York hedge fund that specializes in technology stocks. Mr. Shapiro said a new generation of satellites are likely to provide faster and better Internet connections than those provided by ground-laid cable operators. Several large global players have announced plans to provide broadband service by satellite. Teledesic LLC, founded by Microsoft Corp.'s chairman, Bill Gates, for instance, plans to launch 288 satellites by 2004. Mr. Li dismisses Hughes Network Systems and others as potential competitors, stating that in Asia, the main distribution model would continue to be ground cables, which are more recent, state-of-the-art technology than in the U.S. Mr. Li predicted that Pacific Century also would avoid many of the problems that have plagued Excite@Home. The Internet company attracted new subscribers at a far slower rate than it anticipated, in part because it had to rely on other cable companies to upgrade their cable networks to faster systems. Excite@Home's share price has swooned. In late trading on the Nasdaq Stock Market on Wednesday, shares of Excite@Home were down $2.50 each, or 5.8%, at $40.875, compared with their peak of about $99 in mid-April. Pacific Century hopes to avoid the problems of slow delivery that hurt Excite@Home. Mr. Li said the 10 million homes that Pacific Century plans to service have had their cables laid in the last two years, and have broadband capability. To prevent the system from crashing -- a common vulnerability -- CyberWorks will add subscribers slowly, starting with just 100,000 for the first year. Another concern is content. Over the next five years, Mr. Li plans to invest in 30 Internet ventures, many of them content providers. One early idea would be programming that provides film footage of what Mr. Li calls extreme sports. To demonstrate his point, he shows a promotional video where viewers see a grisly scene of a man operating on himself while stranded in the middle of the ocean during a boating mishap. CyberWorks "provides broadband service to people who don't have Internet access," Mr. Li enthused, adding, "It takes them from no connectivity to the latest and the best in the world." |
| (Post 34 of 17179) 08/19/1999.11:53:00 |
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Tricom is now trading at HK$3.85 on a turnover of 90 mil shares this am alone. It is one of the most active stocks in the HKSE today and over the past few weeks. As each Pac Century share is worth 15.8 Tricom shares, it is now worth HK$60 or S$13 per share. For all those who joined me on this ride, it is just starting. Enjoy the ride ! |
| (Post 35 of 17179) 08/19/1999.15:12:00 |
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I have been looking at the outblaze website and the company has certainly one of the most impressive portal product that I have seen. Although it looks like Richard Li paid a high price for 20% of this company, I am glad to say that for once, I agree that this internet company has potential. Basically, they provide yahoo type email service to any site that request it...FOC. They also have an integrated online appointment system that is linked to the email service which is really feature rich...do go to http://www.graffiti.net/ and sign in and you will see what I mean. The email feature is ready now and they are testing the online appt system. I like these features so much that I am now thinking of linking with Outblaze to provide the features ! Any comments ? |
| (Post 36 of 17179) 08/19/1999.17:17:00 |
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Tricom closed today at HK$4.075. A few days ago, it was trading at HK$2.80. Looks like it is set to become of the hottest internet stocks on the HK bourse after the fast 20% acquisition of Outblaze. |
| (Post 37 of 17179) 08/20/1999.12:36:00 |
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Tricom is top vol in HKSE today with 146 mil shares traded. It is up to HK$4.25 this morning... I guess there are lots of gamblers over there ! This means that Pac Century is now more undervalued than ever. Yes, I will be holding this on for a while yet.... I will be disappointed if it cannot cross the $10 mark. |
| (Post 38 of 17179) 08/21/1999.13:25:00 |
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Looks like Tricom is coming nearer to Singapore...reported in BT today : Pacific Century Cyberworks, an investment company for Hongkong's technology park, is reportedly planning to buy a 10 per cent stake in chinakids, a mainland Internet content provider, and stakes in three Internet companies in Singapore. This week, it bought a 20 per cent stake in Outblaze Ltd, an Internet services company in Hongkong, for US$7 million. |
| (Post 39 of 17179) 08/21/1999.23:21:00 |
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Oldman, you have my moral support all the way to $10. :) I have pick up 2-lots a couple of months back - without checking-up on the company at all, except for some emails "extortations" in IOL...I was just crossing my finger on Richard Li & his old man's connections to do the tricks. Looking back,this is obscene,what investment strategy is this!!! |
| (Post 40 of 17179) 08/22/1999.09:50:00 |
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Fundollar, maybe some obscene proft. :) :) Good luck to you and oldman and all the other quiet investors of this share. |
| (Post 41 of 17179) 08/22/1999.12:15:00 |
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Be careful when investing in HongKong Related Shares. This is an article from Strait Times yesterday. RISING INFLATION TREND HONGKONG -- Higher US interest rates will lead to financial "Armageddon" in Hongkong, which will suffer, more than almost anywhere in the world, from a gradual rise in global nflation,independent Strategy Ltd said in a report. The London-based research firm, which is headed by Mr David Roche, expects the Federal Reserve to lift interest rates -- it did not say when or by how much -- which will cause US stock markets to slide and set off a chain reaction resulting in a weakening US dollar and increasing global inflation. "The US risks an inflationary problem," independent Strategy said in its latest report on the global economy. And "the outlook for higher US rates spells Armageddon for the Hang Seng Index. That is because US nominal rates are also Hongkong's". A weakening US dollar is typically good for Hongkong, whose dollar is pegged to its US counterpart, because it means Hongkong's prices decline compared to its competitors. That will not happen this time, the report said. Higher interest rates in the US will lead to higher real interest rates in Hongkong because it will be coupled with a weakening currency. Hongkong's prime rate is 8.25 per cent. The three-month interbank lending rate is 6.5 per cent -- which has been rising almost steadily since a level of 5.05 per cent on May 4. That means the real interest rate -- the lending rate minus the rate of inflation -- is about 10.6 per cent, because inflation in Hongkong is negative 4.1 per cent. Any higher and Hongkong companies will find it harder to borrow in order to expand and to repay debt. They may then have to lay off employees, worsening the recession. "It's just plain bad news for the Hang Seng, the peg, Hongkong real estate prices and just about everything that moves or crawls" in Hongkong, the report said. "Real interest rates in Hongkong are already through the roof, both by historical standards and in comparison to the US," it added. "In an asset-driven market and economy like Hongkong, higher real interest rates are bad, bad news for equities and debt. Stay short." -- Bloomberg News |
| (Post 42 of 17179) 08/31/1999.15:58:00 |
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Am now going in for the second round. Tricom or Pacific Cyberport is consistently the top vol in HK and is now up from $2.80 to $4.80 over the past 2 weeks. Vol for this stock has also increased significantly. Strange thing is that when SES is up, this stock goes down and vice versa. Wish me luck, second time around ! |
| (Post 43 of 17179) 09/01/1999.09:44:00 |
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Folks, I hope some of you followed me in this one again. It's up 40cts this morning to $7.70 ! Just to recap, each Pacific Century share is worth (4.3 bil PC Cyberworks shares divide by 272 mil shares) = 15.8 PC Cyberworks shares, which at HK$4.90 is worth HK$77 or S$16.80 ! |
| (Post 44 of 17179) 09/01/1999.09:49:00 |
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Congratulations oldman ... wallet fat,fat ... and getting fatter ... |
| (Post 45 of 17179) 09/01/1999.11:15:00 |
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PC Cyberworks is again the top vol in HKSE with over 92 mil shares traded already ! The share is up to HK$5.20 making Pacific Century even more valuable ! I am holding on for $10 at least. |
| (Post 46 of 17179) 09/01/1999.12:32:00 |
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Not sure why it went down so fast. Took the opportunity to buy even more ! Wish me lots of luck! In HK, PC Cyberworks is currently at HK$5.15. |
| (Post 47 of 17179) 09/01/1999.12:39:00 |
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A report on the HK market yesterday by Quamnet. Yes, this is a high risk play.... Similarly it is with the star of the Hong Kong market, Pacific Century CyberWorks, 1186, who yesterday managed to take $770 million of the turnover, a large margin over the $474 million claimed by HSBC, 5. This turnover represented one-eighth, 12.5% of the total turnover, and yet few analysts even know what the capitalisation at this level is. Shares in issue today are 6.45 billion, so the capitalisation is now $31.6 billion, or 19th in the Hong Kong hierarchy of listed companies, still well ahead of Bank of East Asia, 23, or Dao Heng Bank, 223. Even asking the HK Stock Exchange we were unable to find the correct figures and were asked to refer to the company itself! As this astronomical figure, for a company whose only major tangible asset is a building in Beijing and the good favours of Hong Kong's Chief Executive which has enabled the company to round-off corners, by not forcing it to bid against other property developers, for a large hunk of HK real estate. The shares issued to the market are currently in short supply, and one wonders whether someone could have cornered it, which seems virtually impossible in an issue of this magnitude, or is somebody massively short, which is another possibility, but that would need to be illegal. |
| (Post 48 of 17179) 09/01/1999.16:50:00 |
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Not sure why over 4 mil lots exchanged hands at 4:45pm today at $7.55 each. |
| (Post 49 of 17179) 09/02/1999.12:43:00 |
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Contra off the lots that I bought yesterday, just to be on the safe side. Vol down a lot from yesterday. Will buy again when it goes down again. Actually, it is quite a nice counter to play contra. Prices move by 5cts and only 15cts is needed to cover brokers fees. |
| (Post 50 of 17179) 09/02/1999.17:57:00 |
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Wow, Cyberworks is top vol again in HKSE today and has surged to HK$5.90. A quick calculation shows that Pacific Century should now be worth S$20 a share! |
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