But recommedndation here
The information is published by the Hong Kong Chinese-language Hong
Kong Economics Time.
Recently Credit Suisse First Boston (CSFB) has been published a
research paper on Pacific Century Cyberworks (HK:1186, US:PCCLF)
recently. On the latest research paper, CSFB does not have any price
target for PCCLF but still recommanding their investors to accumlate the
company's stocks. Reason for not having price target is based on the past
price performance of PCCLF, which has been outperforming in last year
and breaking all the brokerages' price targets. At last year's November,
CSFB has been predicted PCCLF in HK$8.60 per share for next 12
months. Comparing with similar internet company in US and assuming
PCCLF has 150 times of its P/E in 2001, CSFB is estimating that PCCLF
would be worth more than HK$ 3,550 Billions and the share price would
reach HK$ 27.49 per share. Another reason for recommanding to buy by
CSFB is that PCCLF is well representing the concept of Asian internet
share. The paper is also indicated that every Asian investors should have
PCCLF as core share in their investment portfolio. In additional to that,
CSFB is expecting that institutional investors would continue to
accumlate PCCLF. Finally, CSFB is also indicating in the report that the
future share price of PCCLF would be so violatile and possible that PCCLF
would become the most active stock in Hong Kong. In additional to that,
CSFB is also predicts that PCCLF would include on the Hong Kong Hang
Seng Index.
1, Additional Information provided by CSFB & Pacific Century Cyberworks.
Pacific Century Cyberworks Holds:
(Company/% of share holds/total estimated holding shares worth in Million
US$)
CMGI/3.4/1,095.65
ActionAce.com/10.0/5.00
Asia Java Fund/21.0/5.00
BizTravel.com/3.0/1.50
Cash On-Line(HK)/5.0/5.03
City Telecom/8.0/39.58
Creditland.com/<5/2.50
Equinix/<5/5.00
iAsiaWorks/<5/5.00
Ilink.net/80.0/8.00
Intelligenesis.net/6.3/3.12
MediaRing/5.5/29.25
Outblaze/20.0/7.00
SilkRoute Holdings/25.1/25.10
Sina.com/<5/5.00
Stareastnet.com/20.0/20.00
Spike/5.0/3.75
SpikeJV/30.0/15.00
Sun Microsystem Java Fund/10.0/4.80
Total E-Com/50.0/30.00
SoftNet Systems/23.0/127.50
Total Worth: US$1,442.81 Million
New Added:
Divine Interventures/<5/-
Orama Partners/<5/-
Pets.com/<5/-
Satyam/<5/-
Thrunet/<5/-
TCM/10
Ugo.com/<5/-
Hikari Tsushin(HK)/20/121.06
2, Additional Information provided by CSFB.
Pacific Century Cyberworks Different P/E Ration Estimation:
PCCLF in 2001 Earning with 75 Times P/E Calculation-
Business/Worth in Billion HK$
Pacific Convergence/1,665.38
Cyberport & Properties Project/79.46
Cyberwork Ventures/139.18
Tvicom/0.65
PCCLF Total Worth: 1,884.68
Total Shares: 129.15
PCCLF Per Share Estimated in HK$: 14.59
PCCLF in 2001 Earning with 150 Times P/E Calculation-
Business/Worth in Billion HK$
Pacific Convergence/3,330.77
Cyberport & Properties Project/79.46
Cyberwork Ventures/139.18
Tvicom/0.65
PCCLF Total Worth: 3,550.07
Total Shares: 129.15
PCCLF Per Share Estimated in HK$: 27.49
*Cyberworks Ventures possible premium as 2.5 Times
