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Timeless Aims To Rival Microsoft In 3 Years
Two months after its listing on the GEM, Timeless Software (8028), Hong Kong`s largest software company is now ready to take on
software giant Microsoft. It was teaming up with two mainland government controlled firms to jointly develop the Zuhai Southern
Software Park. The analyst say Timeless have the chance to compete with Microsoft within the Greater China Region, but in the
global market, it is still a long way to go.
Hong Kong, January 31 /SHfn/ -- Fresh from its listing on the GEM market, Timeless Software [8028], Hong Kong`s largest software company is now ready to take on software giant Microsoft.
Last week, the company announced it was teaming up with two mainland government controlled firms, China Electronics Corporation and SDIC Electronics Company to
jointly develop the Zuhai Southern Software Park.
As well as the software park, which is described as similar to Pacific Century CyberWorks` [1186] Cyber port, the three parties have greater plans. Namely, the
development of a Chinese language operating system, an Internet platform with development tools, infrastructure and standards, and the establishment of an Internet
Technology and Solution Provider, which will develop an e-commerce solution.
With these moves, K.K Cheng, Timeless` chairman and chief executive says they are set to catch up with Microsoft within three to five years. He said: "With a minimum of
three years to five years at most, Timeless will grow bigger than Microsoft."
Microsoft currently has a market capitalisation of around US$515 billion. Meanwhile, Timeless has seen its market capitalisation jump from HK$10 million to over HK$3
billion (just under US$386 million) since the listing.
According to Laurie Kan, Timeless` president, and a former managing director of Microsoft Hong Kong, the development of Chinese operating systems has been very slow,
although the technology has been developing quickly in the last few years.
"Now, the situation is very bad. It is not easy for people to use," said Kan. "We can improve many things with the Chinese operating platform."
The company`s plans have been boosted by the Central government`s decision to ban the soon-to-be-launched Windows 2000 operating system from all government offices,
in favour of a locally developed operating system.
The move has been officially described as an attempt to encourage the domestic software industry, although several industry observers have suggested the decision is an
effort to avoid paying Microsoft`s high licensing fees.
According to Kan, Timeless` Chinese operating system could take the place of Windows 2000, as it will be compatible with previous Windows system functions.
However, although PC shipments in China have enjoyed strong growth, PC penetration remains relatively low. Indeed, according to International Data Corporation, PC
shipments only amounted to 10 million units in 1998.
Li Deng Chang, managing director of Core Pacific-Yamaichi said: "Timeless have the chance to compete with Microsoft in the Chinese operating system within the Greater
China Region, but in the global market, it is still a long way for Timeless to go."
Timeless` listed at $3.3, and hit a high of $7.7 on its first day of trading. Since then, the counter has slumped. However, the price rebounded 25 percent to around $5 from
$4 after Timeless announced its plan to take on Microsoft.
-end_
Das dürfte gefallen
(Quelle: stockhouse.com )
Timeless Aims To Rival Microsoft In 3 Years
Two months after its listing on the GEM, Timeless Software (8028), Hong Kong`s largest software company is now ready to take on
software giant Microsoft. It was teaming up with two mainland government controlled firms to jointly develop the Zuhai Southern
Software Park. The analyst say Timeless have the chance to compete with Microsoft within the Greater China Region, but in the
global market, it is still a long way to go.
Hong Kong, January 31 /SHfn/ -- Fresh from its listing on the GEM market, Timeless Software [8028], Hong Kong`s largest software company is now ready to take on software giant Microsoft.
Last week, the company announced it was teaming up with two mainland government controlled firms, China Electronics Corporation and SDIC Electronics Company to
jointly develop the Zuhai Southern Software Park.
As well as the software park, which is described as similar to Pacific Century CyberWorks` [1186] Cyber port, the three parties have greater plans. Namely, the
development of a Chinese language operating system, an Internet platform with development tools, infrastructure and standards, and the establishment of an Internet
Technology and Solution Provider, which will develop an e-commerce solution.
With these moves, K.K Cheng, Timeless` chairman and chief executive says they are set to catch up with Microsoft within three to five years. He said: "With a minimum of
three years to five years at most, Timeless will grow bigger than Microsoft."
Microsoft currently has a market capitalisation of around US$515 billion. Meanwhile, Timeless has seen its market capitalisation jump from HK$10 million to over HK$3
billion (just under US$386 million) since the listing.
According to Laurie Kan, Timeless` president, and a former managing director of Microsoft Hong Kong, the development of Chinese operating systems has been very slow,
although the technology has been developing quickly in the last few years.
"Now, the situation is very bad. It is not easy for people to use," said Kan. "We can improve many things with the Chinese operating platform."
The company`s plans have been boosted by the Central government`s decision to ban the soon-to-be-launched Windows 2000 operating system from all government offices,
in favour of a locally developed operating system.
The move has been officially described as an attempt to encourage the domestic software industry, although several industry observers have suggested the decision is an
effort to avoid paying Microsoft`s high licensing fees.
According to Kan, Timeless` Chinese operating system could take the place of Windows 2000, as it will be compatible with previous Windows system functions.
However, although PC shipments in China have enjoyed strong growth, PC penetration remains relatively low. Indeed, according to International Data Corporation, PC
shipments only amounted to 10 million units in 1998.
Li Deng Chang, managing director of Core Pacific-Yamaichi said: "Timeless have the chance to compete with Microsoft in the Chinese operating system within the Greater
China Region, but in the global market, it is still a long way for Timeless to go."
Timeless` listed at $3.3, and hit a high of $7.7 on its first day of trading. Since then, the counter has slumped. However, the price rebounded 25 percent to around $5 from
$4 after Timeless announced its plan to take on Microsoft.
-end_
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