'New' Pacific Century CyberWorks Unveils Growth Pl

Telecommunications Services consists of fixed line operations, and represents the engine room providing cash for the other two growth sectors. Funds are generated from 3.7 million business and residential telephone lines and 77,000 broadband residential and business customers. Operating initially in Hong Kong, this sector will expand into Greater China.

Global Communications Services consists of two business units: Mobility Services and Connectivity Services. Strategic joint ventures will allow this sector to expand regionally and globally, delivering high growth.

The third sector is Net Enterprises, consisting of four business units: Broadband Business to Consumer Services, Business to Business Services, Data Center/Web Hosting Services and CyberWorks Ventures. This sector is primed for explosive growth.

The eighth business unit within PCCW, Infrastructure Services, serves all sectors and units.


   Business Units                           Operating Sectors

   Telecommunications Services              Telecommunications Services

   Connectivity Services                    Global Communications Services
   Mobility Services

   Broadband Business to Consumer Services
   Business to Business Services                 Net
   Data Centers/Web Hosting Services             Enterprises
   CyberWorks Ventures

   Infrastructure Services directly support all three sectors.

 

"Our research shows that Internet users in Asia are booming, and in particular, Broadband Internet user numbers are going through the roof," said Mr. Li. "Our research estimates from a current total of about 4 million, there will be more than 10 million broadband Internet subscribers in Asia by 2001. It could even overtake the US by the end of next year."
PCCW Deputy Chairman Linus Cheung said more customers outside Hong Kong will be able to benefit from the Company's well-equipped Telecommunications Services sector, which employs about 15,000 people.

"We see a world of telecoms opportunities right here in Asia," said Mr. Cheung. "Our new company is already Hong Kong's leading provider of local and international services and Internet access, the second-largest operator of mobility services and a major player in broadband services as well. We will continue to build on this strong foundation."


   The business units feature the following assets:

   Telecommunications -- 95 percent Broadband availability in HK via fibre
   Services              and XDSL
                      -- 2.1 million residence and 1.5 million business lines
                         in HK
                      -- Strong earnings and revenues
                      -- Foundation for developing Broadband infrastructure
                         across Asia-Pacific

   Connectivity       -- Providing global Broadband connectivity
   Services           -- Broadband fibre optic and satellite network
                      -- One of Asia's largest IP Backbones >1,200 Mbps

   Mobility           -- Wireless platform for access to NOW services
   Services           -- Wireless demand outstrips fixed line in Asia
                      -- Quality assets in Hong Kong that provide leverage
                         for regional expansion
                      -- Nearly 1 million customers

   Data Centres/      -- Over 300,000 square feet of Hong Kong operations
   Web Hosting           facilities
   Services           -- Leading Asian-global partnerships and strong
                         positioning
                      -- Strong position to capture applications and high
                         demand for connectivity throughout Asia and beyond

   Broadband          -- World's largest producer of converged broadband
   Business              content (NOW TV-web service)
   To Consumer        -- Entertainment, e-commerce and communications content
   Services           -- Multiple revenue streams and co-branding
                         opportunities
                      -- Rapidly growing broadband base in Hong Kong

   Business to        -- One-stop-shop for e-business capability
   Business           -- eLogistics, eProcurement, eMarketplace, call center,
   Services              ASP, IT
                      -- Strong (Fortune 500) customer base in Hong Kong

   CyberWorks    -- US$780 million in strategic investments
   Ventures           -- Equity stakes in more than 50 Internet-related
                         companies

   Infrastructure     -- Synergies with all business units
   Services           -- Cash flows from flagship investment properties
                      -- Revenues from Cyberport in Hong Kong
                      -- Revenues from Pacific Century Place in Beijing

 

Further increasing the efficiency of the 8 X 3 model is PCCW's adoption of a Strategic Integration Process (SIP), which will function as a communication conduit throughout the new organization.
The SIP will link strategies and ensure coordination within and among sectors and business units without adding a level of bureaucracy. While addressing tasks most central to value creation, the SIP will provide Chairman Richard Li with direct access to sector Managing Directors and Business Unit Presidents.

Retaining the name Pacific Century CyberWorks was the overwhelming choice of the newly merged company and received further endorsement by focus groups of HKT staff, said Mr. Li. It was also agreed that PCCW is recognized by local and international investors as a global growth company.

The Company also has a new Executive Committee and management.

Richard Li, aged 33, is Chairman and Chief Executive of Pacific Century CyberWorks, Chairman and Chief Executive of the Pacific Century Group and Chairman of Pacific Century Regional Developments Limited. Mr. Li also chairs the Executive Committee.

Other executive management in alphabetical order:

Alexander Arena, aged 49, is Deputy Chairman of the Company's Executive Committee. Mr. Arena is also a Director of Pacific Century Regional Developments Limited.

Linus Cheung Wing Lam, aged 51, is a Deputy Chairman of Pacific Century CyberWorks and a member of the Executive Committee. Prior to the merger of Pacific Century CyberWorks and Cable & Wireless HKT, Mr. Cheung was Chief Executive of Cable & Wireless HKT and Executive Director of Cable & Wireless plc.

David Prince, aged 49, is Group Chief Financial Officer. Mr. Prince is also a member of the Company's Executive Committee.

Peter To, aged 52, is a Deputy Chairman of Pacific Century CyberWorks, and Managing Director and Chief Executive Officer of Pacific Century Regional Developments Limited.

Francis Yuen, aged 47, is a Deputy Chairman of Pacific Century CyberWorks, Deputy Chairman of the Pacific Century Group, Chairman of Pacific Century Insurance Holdings Limited and Deputy Chairman of Pacific Century Regional Developments Limited. Mr. Yuen is also a member of the Company's Executive Committee.

Norman Yuen Kee Tong, aged 51, is Deputy Chief Executive Officer of Pacific Century CyberWorks and a member of the Company's Executive Committee. Mr. Yuen is also a member of the Company's Business-to-Consumers Executive Committee.



   PACIFIC CENTURY CYBERWORKS

   Broadband for the World
   

PCCW is changing the way people everywhere live, work and play. One of the world's largest Internet companies, PCCW is focused on developing the full spectrum of Broadband Internet services, building on our expertise and knowledge of telecommunications, digital technology and new media. Access to Broadband content will be available via multiple platforms including satellites, fibre optics and wireless technology.
The Hong Kong-listed technology flagship of the Pacific Century Group, PCCW is a constituent of the Hang Seng Index and the MSCI Hong Kong Index. PCCW is the largest Internet company in Asia by market capitalisation.

A Measurement of Growth: 8 X 3

The August 2000 acquisition of Cable & Wireless HKT, valued at US$38 billion in cash and shares, has resulted in the creation of an innovative new business model within PCCW designed to foster high growth.

PCCW now runs eight business units within three operating sectors. The new business model is designed to maximize productivity by leveraging opportunities and resources across them.

The structure also assures investors, staff and customers of the Company's commitment to accountability, accessibility and transparency.


   Business Units                           Operating Sectors

   Telecommunications Services              Telecommunications Services

   Connectivity Services                    Global Communications Services
   Mobility Services

   Broadband Business to Consumer Services
   Business to Business Services                 Net
   Data Centers/Web Hosting Services             Enterprises
   CyberWorks Ventures

   Infrastructure Services directly support all three sectors


   Eight Business Units

   Telecommunications -- 95 percent Broadband availability in HK via fibre &
   Services              XDSL
                      -- 2.1 million residence and 1.5 million business lines
                         in HK
                      -- Strong earnings and revenues
                      -- Foundation for developing Broadband infrastructure
                         across Asia-Pacific

   Connectivity       -- Global Broadband connectivity
   Services           -- Broadband fibre optic and satellite network
                      -- One of Asia's largest IP Backbones (>1,200 Mbps)

   Mobility           -- Wireless platform for access to NOW services
   Services           -- Wireless demand that outstrips fixed line in Asia
                      -- Quality assets in Hong Kong that provide leverage
                         for regional expansion
                      -- Nearly 1 million customers

   Data Centres/      -- Over 300,000 square feet of Hong Kong operations
   Web Hosting           facilities
   Services           -- Leading Asian-global partnerships and strong
                         positioning
                      -- Strong position to capture applications and high
                         demand for connectivity throughout Asia and beyond

   Broadband          -- World's largest producer of converged Broadband
   Business              content (NOW TV-web service)
   To Consumer        -- Entertainment, e-commerce and communications content
   Services           -- Multiple revenue streams & co-branding opportunities
                      -- Rapidly growing Broadband base in Hong Kong

   Business to        -- One-stop-shop for e-business capability
   Business           -- eLogistics, eProcurement, eMarketplace, call center,
   Services              ASP, IT
                      -- Strong (Fortune 500) customer base in Hong Kong

   CyberWorks         -- $US780 million in strategic investments
   Ventures           -- Equity stakes in more than 50 Internet-related
                         companies

   Infrastructure     -- Synergies with all business units
   Services           -- Cashflows from flagship investment properties
                      -- Revenues from Cyberport in Hong Kong
                      -- Revenues from Pacific Century Place in Beijing


   Three Operating Sectors

 

Telecommunications Services -- Sustainable Growth. Pacific Century CyberWorks operates one of the most sophisticated fully digital telecommunications networks in the world, with enough fibre-optic cable laid in Hong Kong to round the world 11 times. Incorporating local and international telecommunications services, this sector will realise its own expansion strategies within Hong Kong and beyond by building on the US$4.7 billion invested in network infrastructure in the last 10 years to accelerate the DSL and Broadband migration of our customer base. All sectors will exploit Telecommunications Services to support higher growth businesses and spread operating costs, while utilising its significant human resources in regional growth opportunities.
Global Communications Services - High Growth. Includes Connectivity and Mobility Services. The PCCW -- Telstra joint ventures will develop a global distribution network that will involve the upgrade and rollout of additional cable and other infrastructure to meet future demand for carriage of voice, data and Internet services. Mobility Services will operate as an Asia Pacific provider of wireless voice and data network services.

Net Enterprises -- Explosive Growth. Includes Broadband B2C (NOW), B2B and Data Centers/Web Hosting services and CyberWorks Ventures. Drawing on resources from the Telecommunications and Global Communications operating sectors, we shall establish initial positions in opportunity-filled global markets initially in Greater China and Asia, the world's fastest-growing Internet and Broadband region. The sector's focus is on developing and implementing business plans aimed at building brands and seizing opportunities for hypergrowth.

Products/Services

NOW (Network of the World), rolled out in June 2000, is the world's first truly converged Internet and digital TV content service. From a London studio employing about 300 people, NOW delivers two features: A linear TV experience and streaming video synchronized to web content. With NOW, TV viewer and Internet users become "viewsers," who can drill down into vortals (vertical portals) for in-depth content, including video clips, graphics, animation, text and web links.

The service, available at www.NOW.com, is designed for Broadband connections across multiple platforms, but is accessible via narrowband Internet dialups. i-Cable Communications Ltd. will carry NOW TV content on a dedicated channel starting August 28. In addition to English content currently offered on the service, Chinese and Japanese language programming is slated to come on line later.

Mobile communication services have been available from the former Cable & Wireless HKT for more than 15 years. Operating advanced GSM and D-AMPS systems, the Company serves all local market segments through its three mobile brands -- 1010, One2Free and "1+1" Communications. Pioneering many mobile technology innovations, the Company developed the world's first mobile phone service in an underground railway, the Hong Kong MTR, as well as coverage in vehicular tunnels and automatic roaming in China.

Interactive Multimedia Services uses the company's digital platform to offer sophisticated telecommunications services such as Netvigator, the largest Internet access service in Hong Kong. iTV, the world's first Broadband interactive TV service was launched in March 1998 -- a revolutionary interactive multimedia service that can transform the home into a full-time entertainment, shopping and information centre. Netvigator has 561,000 narrowband accounts, up 74 percent year-on-year, and 77,000 Broadband accounts, a seven-fold jump from previous year.

Tele/services was established in April 1998 to provide outsourced teleservices, or call centre services. Banks, airlines and other businesses use these call centres to handle general enquiries, help-desk services, reservations, database establishment, as well as telesales. Tele/services is now offering CRM and other e-economy services.

Japan Investments

On August 10, 2000, PCCW invested about US$250 million to acquire a majority share in Japanese entertainment software producer Jaleco. The investment will result in a listing on the JASDAQ for PCCW Japan later this year. Strategic Japanese partners include Dentsu, one of the world's largest ad agencies, Orix, a leading financial services company, and Sony PCL, which will assist in developing the NOW studio in Japan.

In July 2000, PCCW acquired a 16 percent stake in Tomen Mediacom, a Japanese listed company that has stakes in several Japanese cable television operations.

Both investments will enhance the distribution of NOW. A production studio is scheduled to be built in Japan.

Global Partners

Among PCCW's strategic partners are: Intel, the leading computer and networking technology company; CMGI, one the largest aggregators of Internet brands and technology; Hicks, Muse, Tate & Furst (HMTF), a leading global investor in the media and telecommunications sectors; Trans World International (TWI), the world's largest sports content supplier; Daimler Chrysler Aerospace, the leading satellite technology company; and, Legend Holdings, China's leading PC manufacturer and distributor.

Corporate Facts

The new company retained the name Pacific Century CyberWorks. PCCW shares are listed on the Stock Exchange of Hong Kong (SEHK: 0008)

As of August 22, PCCW will be listed on the New York Stock Exchange (NYSE: PCW)

PCCW-Japan will be listed under: Japanese Securities Dealers Association (JASDAQ: 7954)


   Other information
   PCCW Revenues (Year end 31-Dec-99):      US$19.54 million
   PCCW Profit (Year end 31-Dec-99):        US$44.58 million
   HKT Revenues (Year end 31-Mar-00):       US$3.64 billion
   HKT Profit (Year end 31-Mar-00):         US$147 million

   New PCCW (Combined Group)
   Unaudited Pro Forma Total Assets:   US$9.6 billion as of 31 March 2000
   Number of Employees:                15,000
   Global Presence:                    25 offices in 18 countries

   Milestones
   October 1993    Pacific Century Group is founded
   March 1998      Pacific Century Convergence Joint Venture with Intel
   August 1999     Pacific Century CyberWorks listed in Hong Kong
   February 2000   Offer from PCCW to acquire HKT announced
   April 2000      Announcement of MOU for PCCW and Telstra alliance
   June 2000       NOW (Network of the World) service rollout from London
   August 2000     PCCW acquires Japanese software maker Jaleco for
                   $US250 million
   Aug. 17, 2000   Announces completion of formal merger procedures
   Aug. 22, 2000   PCCW ADR listing on NYSE

   Executive Committee & Management

   Richard Li
   

Richard Li, aged 33, is Chairman and Chief Executive of Pacific Century CyberWorks, Chairman and Chief Executive of the Pacific Century Group and Chairman of Pacific Century Regional Developments Limited. Mr. Li is also Chairman of the Company's Executive Committee and the Business-to-Consumers Executive Committee. Before founding the Pacific Century Group, Mr. Li built Star TV, Asia's first satellite-delivered cable television service in 1990. In the three years under his leadership, Star TV's subscriber base grew to over 53 million homes across Asia, the Middle East and Europe. The sale of Star TV to News Corp in 1993 provided the capital to launch the Pacific Century Group in October that year. Mr. Li was born in Hong Kong in 1966. He was educated in the US and graduated from Stanford University with a degree in computer engineering. Mr. Li is a member of the Center for Strategic and International Studies' International Councillors Group in Washington, D.C., the World Economic Forum and the International Advisory Board of the Center for International Development at Harvard University.

   (other executive management in alphabetical order)

   Alexander Arena
   

Alexander Arena, aged 49, is Deputy Chairman of the Executive Committee of Pacific Century CyberWorks. Mr. Arena is also a Director of Pacific Century Regional Developments Limited. He joined the Pacific Century Group in 1998. He was a Special Policy Adviser to the Government of Hong Kong from 1997 to 1998. From 1993 to 1997, Mr. Arena was the Director-General of Telecommunications in the Office of the Telecommunications Authority of Hong Kong as well as a member of the Broadcasting Authority. Prior to his appointment as Director-General, Mr. Arena was recruited to Hong Kong to plan a reform program for the liberalization of Hong Kong's telecommunications sector. Prior to his appointment to the Government of Hong Kong, he was an inaugural member of The Australian Telecommunications Authority and had served in that capacity for four years. Mr. Arena has had an extensive career in public administration, specializing in high technology and infrastructure industries. From a practicing radio/communications engineer to a public policy maker, his experience spans such diverse areas as the commercialization of government-owned business enterprises and deregulation in the aviation, transport, telecommunications and postal industries. Mr. Arena graduated from the University of New South Wales, Australia with a Bachelor's degree in Electrical Engineering and completed an MBA degree at Melbourne University, Australia.
Linus W. L. Cheung

Linus Cheung Wing Lam, aged 51, is a Deputy Chairman of Pacific Century CyberWorks and a member of the Executive Committee. Prior to the merger of Pacific Century CyberWorks and Cable & Wireless HKT, Mr. Cheung was Chief Executive of Cable & Wireless HKT and Executive Director of Cable & Wireless plc. Before joining C&W HKT, Mr. Cheung was Deputy Commercial Director of Cathay Pacific Airways of the Swire Group in 1991 and the following year joined their Board of Directors as their Executive Director of Hong Kong. He also served as the Airways' Deputy Managing Director. Mr. Cheung received a BSc degree with Honours and a Diploma in Management Studies from the University of Hong Kong. He also received management training of short durations in a number of institutions including the Harvard Business School, INSEAD of France, Oxford University, the London Business School and the Asian Institute of Management. Mr. Cheung was appointed in 1995 as an advisor to the Chinese Society of Macroeconomics of the State Planning Commission of the People's Republic of China. He is currently Chairman of the University of Hong Kong's Management Board of the School of Business and sits on numerous boards and committees including the Financial Secretary's Services Promotion Strategy Group, the Securities and Futures Commission Advisory Committee, the Hong Kong Policy Research Institute, the Council of the University of Hong Kong and the General Committee of the Hong Kong General Chamber of Commerce.

David N. Prince

David Prince, aged 49, is Group Chief Financial Officer. Mr. Prince is also a member of the Company's Executive Committee and a member of the Business-to-Consumers Executive Committee. Mr. Prince was previously Deputy Chief Executive and Finance Director of Cable & Wireless HKT, a position he held since February 1999. He was educated in the U.K. and was sponsored at business school by British Gas as part of their management training scheme. Mr. Prince worked for British Gas in a number of purchasing and marketing roles, then moved to the Dutch electronics group, Philips, initially as Management Accountant and later as head of one of their audit groups. He joined TRW (the US space defense group) in 1977 as Commercial Director responsible for the finance and commercial activities of a joint venture in the oil industry. Mr. Prince joined Cable & Wireless in 1981 as Financial Comptroller for the European division and in 1984, was appointed Divisional Manager of Finance to Cable & Wireless's Hong Kong subsidiary (Cable & Wireless Hong Kong). In 1987, he returned to the U.K. as Controller Strategic & Financial Planning for the C&W Group. He was appointed as Finance Director to C&W HKT in 1994. He is a member of the Chartered Institute of Management Accountants and the Chartered Institute of Purchasing and Supply.

Peter To

Peter To, aged 52, is a Deputy Chairman of Pacific Century CyberWorks, and Managing Director and Chief Executive Officer of Pacific Century Regional Developments Limited. Mr. To is also Managing Director of the Company's Infrastructure & Real Estate Services. He has been active in property development and investment for more than 27 years. Mr. To obtained a Certificate of Housing Management from the University of Hong Kong and is a Fellow of both of the Chartered Institute of Housing (UK) and Hong Kong Institute of Housing. Prior to joining the Pacific Century Group in September 1997, he was Managing Director of the Hutchison Whampoa Property Group. From 1983 until July 1997, Mr. To was mainly responsible for the development, marketing and management of all development and investment properties in the Hutchison Whampoa Property Group's portfolio, which included a wide range of industrial and warehousing, commercial and residential development projects in Hong Kong and in major cities in the People's Republic of China with a total floor area of over 2.5 million square meters. Mr. To is responsible for the overall strategy of the property development business of the Company and the Cyberport Project.

Francis Yuen

Francis Yuen, aged 47, is a Deputy Chairman of Pacific Century CyberWorks, Deputy Chairman of the Pacific Century Group, Chairman of Pacific Century Insurance Holdings Limited and Deputy Chairman of Pacific Century Regional Developments Limited. Mr. Yuen is also a member of the Company's Executive Committee. He joined the Pacific Century Group in 1996 after an extensive career in investment banking and financial regulatory affairs that spanned Asia. From 1988 to 1991, he was Chief Executive of The Stock Exchange of Hong Kong Limited. Mr. Yuen was also a founding director of Hong Kong Securities Clearing Company Limited. Mr. Yuen served from 1992 to 1994 as a member of the International Markets Advisory Board of Nasdaq in the United States, the second largest stock market in the world. He was made the Managing Director of Citicorp Scrimgeour Vickers Hong Kong Limited in October 1986, and was appointed to the firm's main board in London in 1987. Mr. Yuen worked for Wardley, a merchant bank, from 1977 to 1985. Mr. Yuen is the Chairman of the Board of Trustees of the Hong Kong Centre for Economic Research, a member of the Shanghai People's Political Consultative Committee, and a member of the Board of Trustees of Fudan University in Shanghai. He received a Bachelor of Arts degree in Economics from the University of Chicago and is presently a member of the Board of Trustees of the University.

Norman K.T. Yuen

Norman Yuen Kee Tong, aged 51, is Deputy Chief Executive Officer of Pacific Century CyberWorks and a member of the Company's Executive Committee. Mr. Yuen is also a member of the Company's Business-to-Consumers Executive Committee and Managing Director of the Company's Net Enterprises. He previously held the position of Deputy Chief Executive at Cable & Wireless HKT from 1995 and Director from 1993. He was responsible for strategic planning and local business development in e-commerce, Internet and Broadband applications, mobile, product management, information technology and regulatory affairs. A Hong Kong native, Mr. Yuen received his professional accountancy qualifications at Hong Kong Polytechnic University in 1969. He began his professional career at Price Waterhouse where he spent five years as a client services professional. Mr. Yuen then spent three years at Dodwell & Company as a manager of regional operations and later left to join Hong Kong Electric in 1977 as an internal auditor and was later involved with corporate planning and regulatory affairs. He currently serves on several Government advisory committees, including the Immigration Tribunal, the Information Infrastructure Advisory Committee and the Trade Development Council.

SOURCE Pacific Century CyberWorks

-0- 08/17/2000

/CONTACT: Joan Wagner, +852-2514-8883, or fax, +852-2514-8884, or joanwagner@pcg-group.com, or Jenny Fung, +852-2883-7733, or fax, +852-2962-5021, or jenny.mkh.fung@cwhkt.com, both of Pacific Century CyberWorks/

CO: Pacific Century CyberWorks ST: China IN: CPR MLM SU: TNM RCN PER

anstrengend geworden. Ich bin erstmal raus aus pcc und hab alles in meine Lieblingsaktie reingepackt.

Nur ich hätte mein Geld in eine andere Aktie gesteckt !!!

Several analysts who attended a briefing earlier said they were disappointed PCCW was not more forthcoming with specifics. "I would have been happier if they gave us their revenue projections or breakdowns," said Jonathan Iu of SG Securities. During the media briefing Li declined to provide target usage or revenue numbers for NOW, although he said PCCW was pleasantly surprised to find that users of the service, launched this summer, spent an average of 27 minutes per visit. He also said at least one company invested in by PCCW's Ventures unit would go public within the next six months. As expected, former C&W HKT CEO Linus Cheung was named deputy chairman of PCCW. PCCW veterans Francis Yuen and Peter To are also deputy chairmen, while Alex Arena, another PCCW veteran, is deputy chairman of the executive committee. (With additional reporting by Bei Bei She)


Sorry,habe keine Zeit für Übersetzung

Printed Thursday, August 17, 2000
© 1998-2000 IPO.com, Inc. All rights reserved.

PCCW wird nicht zum 3G-Bieter-Konsortium hinzustossen. Dies erklärt Richard Li heute. Das 3G-Konsortium besteht aus NTT DoCoMo, Hutchison Whampoa und KPN. In Deutschland steigert 3G um 2 Frequenzblöcke mit.

Li sagte, dass die Preise für die Lizenzen in Europa zu hoch seien. Trotzdem hofft er, dass durch diese Lizenzen, die bald auch in Hongkong evrgeben werden sollen, sein Breitband-Service NOW schneller wachsen kann.

Eine Kooperation auf dem Hongkonger Markt mit Hutchison schloß er aus. Er erwarte hier viel mehr einen scharfen Wettbewerb zwischen beiden. Allerdings könne er sich international eine gemeinsame Vorgehensweise vorstellen.



-js- 17.08.00 12:54:00

Unternehmen
PINE
Hartcourt
sino-i

mehr...  

Fonds
Nordasia
AsiaVision
Asia@tec

mehr...  

Länder
China
Japan
Indien
Australien
Taiwan

mehr...


Asianews



PCCW mit neuem chin. Namen und neuem Logo



Nach dem Abschluß des Mergers ändert PCCW, wie schon spekuliert wurde, den chinesischen Namen der Unternehmung. Der englische bzw. der Aktien-Name bleibt unverändert.

Das Logo wurde auch leicht verändert. der Hintergrund ist nun grün. Sonst ist es weitgehend gleich geblieben.



-js- 17.08.00 09:30:00
Unternehmen
PINE
Hartcourt
sino-i

mehr...  

Fonds
Nordasia
AsiaVision
Asia@tec

mehr...  

Länder
China
Japan
Indien
Australien
Taiwan

mehr...


Asianews



PCCW mit neuem chin. Namen und neuem Logo



Nach dem Abschluß des Mergers ändert PCCW, wie schon spekuliert wurde, den chinesischen Namen der Unternehmung. Der englische bzw. der Aktien-Name bleibt unverändert.

Das Logo wurde auch leicht verändert. der Hintergrund ist nun grün. Sonst ist es weitgehend gleich geblieben.



-js- 17.08.00 09:30:00



 

"The world looked very different 12 months ago," says McGuigan, who was a mining-industry executive and corporate lawyer in his Old Economy life. "Things that looked like they would be profitable have not proved so. Luckily we have another revenue stream, and that's where we're focusing now."

New rules, new focus. Call it Asia's Internet-industry crash course in freedom with responsibility. Forget youthful whimsy--Asia's dotcom survivors and newcomers are bringing in more-experienced management heads and refocusing on business areas that have real revenue promise, such as business-to-business e-commerce.

Even if catching the eyes of venture capitalists is still relatively easy (see article on page 38), Gage McAfee, managing director of the Hong Kong-based GE Asia Pacific Capital technology fund, says he has noted a shift in the way many companies present themselves. "Everyone seems to want an older chief financial officer these days--someone who looks responsible. The flip-flop-wearing CEO may still be an essential part of the vision, but there needs to be a maturity about the financial side."

For many, it's already too late. Across the region, numerous smaller Internet companies are suffering badly. They are desperately cutting costs and staff to bring in revenue to fight growing "burn rates"--simply, the speed at which they're losing money. In Hong Kong, three-year-old Chinese Books Cyberstore, a start-up aimed at mimicking the Amazon.com model of selling books on-line but with the potential to tap China, filed for bankruptcy in July with debts of $20 million. Like others, it was spending hard--reportedly up to $750,000 a month on operations and around $1 million on attempts to get a stockmarket listing, without producing revenue. Meanwhile, big-name portals such as Hong Kong's renren.com and tom.com have both sharply cut back staff.

"All of the consumer and content sites are suffering because the economics never worked from the get-go. They just had no value proposition," says David Moy, regional Internet analyst with Salomon Smith Barney in Hong Kong. Disturbingly, too much money appears to have been been chasing these flawed ideas. "Stupid business models have been soaking up a lot of capital," Moy says.

The dotcom dreamers aren't going quietly, though. Most started with one idea, and are quickly morphing to fit into new industry trends while often performing radical surgery on their business model. Companies are recognizing that they have to identify sustainable revenue and produce a bottom-line result, says Spike's McGuigan. Strongest in the consumer dotcom arena now are those that made it to the stockmarket before investors cooled on Internet plays. Early movers like chinadotcom and Pacific Century CyberWorks now have the cash and leverage to start mopping up the best of the stragglers and consolidate the industry. But for most other dotcoms, survival means shifting their focus away from the immature consumer market and looking for ways to help businesses build e-strategies.

Internet music provider Asiamix quickly learned it was too early for it to make money from on-line retail sales, and was forced to reduce its staff by half to 14. So CEO and co-founder James Fong decided to make the shift to B2B: offering a service that allows other portals and content sites to pipe in Web music. He also has joined forces with the music industry to scout for prospective talent via his site, which offers a platform for budding musicians.

"I could have made a lot more money doing something else in the last six months," says Fong, who co-founded Asiamix in November after quitting his job in investment banking at Merrill Lynch. He's still confident of making a profit, but says the past few months were a significant reality check. "The only good news is the 14 people we have seem to get as much work done as everyone did before. I guess we're all working more efficiently now," says Fong.

Asiamix's strategy of diversifying into B2B mirrors that of the bulk of dotcoms that are now trying to switch direction. But behind the parties and lavish brand-building budgets--hallmarks of dotcom excess in the past year--a growing number of Asian companies have been laying solid B2B foundations out of the public eye.

"We know who our clients are, and since we have a great idea, we didn't want a fanfare until we were established," says Ian Fleming, a former derivatives specialist and headhunter who's now chief operating officer at NAV Global. The Hong Kong company provides on-line asset-valuation services that help financial advisers track their customers' portfolios and research financial products. "We're not really a dotcom. We're more a back-office, to which we apply Internet and database technology," Fleming says.

The company now has eight clients handling around 12,5000 accounts and has just closed its first round of funding. "There's still a lot of money out there," he says. "We didn't really find that a problem. But you need to find someone with the right interests in your future. Nobody puts money down and just says 'Get on with it' any more."

Fleming is scornful of most Hong Kong Internet plays, which he sees as get-rich-quick schemes. With NAV Global growing quietly, he doesn't see there is necessarily a need for the company to list, and a blaze of publicity is hardly required. "Listing is only a means to an end for funding purposes, but we may not need that. Do you need to be a paper billionaire if you're going to be a paper pauper in five months?"

A running theme among such infrastructure-oriented companies is the long-term view. Like Fleming at NAV Global, Peter Levesque, CEO of Hong Kong's V-Logic, sees his outfit as part of the more mature Internet world, where dotcoms are backed by heavy hitters and have a clearly defined, achievable business goal that capitalizes on the efficiency of the Internet.

Times have definitely changed, he says. It used to be that the first question anybody asked was: "When will you list?" Now investors want to know about revenue and break-even dates, he says. "Unlike some, we are not interested in putting together a shell game and listing. We're here for the long-haul opportunity."

With backing from a consortium led by U.S. venture-capital firm Warburg Pincus, V-Logic hopes to fill a niche in the on-line world by making B2B transactions more efficient. The logistics company will offer global retailers the ability to fulfil on-line orders by delivering U.S. or European brands to Asian markets from manufacturing sources in places such as southern China. V-Logic went live in May and is confident of netting its first customer--a major Western office-supplies company. With 17 staff members, Levesque says he has enough cash to operate for 12 months without posting a profit. "The biggest hurdle is convincing the customer to expand their markets in a new way. There's a lot of education in each sale."

As the new crop of business-oriented start-ups get up and running, many are finding that general market sentiment has tarred all Net-related companies with the same brush. And if you're young to boot, convincing backers is extremely tough, even if you can demonstrate a good revenue position. "Our valuation has definitely been pushed down," says Grace Moon, CEO of Japanese start-up Tradeku. "It's a good sign, though, that we were able to continue the funding process in this kind of environment."

Tradeku plans to offer proprietary Internet technology to bring together B2B-focused dotcoms forming electronic market places. Its aim is to help on-line buyers and sellers quickly and cheaply source material, cut inventories and reduce transaction costs. Since the company is still settling legal and patent issues before its expected launch later this year, Moon isn't saying much else--about the business or the technology.

Beyond securing $2 million in first-round funding, the company hasn't posted any revenue yet. But it's focused on getting profitable fast--"we're aiming for November 2001," Moon says. The company, however, may need two more financing rounds before listing on the Nasdaq Japan stockmarket.

It's a tough sell to backers, not least because Tradeku is largely populated by friends between the ages of 28 and 32. Although the young team represents a wide range of experiences, coming from assorted U.S. banks, brokerage firms and management-consulting houses, Moon--herself only 28--is aware that age is something the venture capitalists are now wary of. "They are continually probing to get an idea."

Clearly the crazy year of dotcom fever has left a mark on investors and entrepreneurs alike. On the positive side, GE Asia Pacific Capital's McAfee says the experience has provided clear advantages for business in the region that until recently were hidebound by hierarchies, opaque management and inflexible family loyalties. Now, transparency for young companies has become the norm, says McAfee, and entrepreneurship has been given a freer rein, allowing concepts of meritocracy in management to flourish in a very public way.

But the big crunch may still be to come. Hanson Cheah of Hong Kong's AsiaTech Ventures believes that although more start-ups are adopting responsible business plans, the industry hasn't seen the final fallout from souring sentiment toward consumer and content companies. "Many of these companies were still raising money in January and February, so they can last out until maybe September without actually going under," he says. "There's still plenty of denial out there," Cheah adds.

The dreamers, it seems, still don't believe the money will run out.

The transaction remains subject to customary closing conditions, including the confirmation of the transfer of the domain names. For a period of 30 days following the transfer, visitors to the Cyberworks site will be able to click through to the Venture Catalyst site.

About Pacific Century CyberWorks Limited

Pacific Century CyberWorks Limited is the technology flagship of Pacific Century Group (www.pcg-group.com), which was founded in 1993. Listed in Hong Kong in August 1999, PCCW is involved primarily in technology businesses related to the Internet and the delivery of broadband ISP-enabling services and technologies to local access operators through an innovative system for satellite-to-broadband ground distribution. PCCW's merger with Cable & Wireless HKT was sanctioned by the High Court of Hong Kong on August 1 and will take effect August 17.

About Venture Catalyst Incorporated

Venture Catalyst Incorporated (www.vcat.com) provides venture services to support and facilitate the development of emerging businesses. VCAT acts as an entrepreneur's ally in identifying, organizing, capitalizing and growing businesses at a faster rate. VCAT's team of experts offer comprehensive Web development services, investor relations, public relations and marketing, strategic planning, executive recruitment, infrastructure, state-of-the-art incubation facilities, and professional and technical expertise. A public company since 1995, VCAT has offices in San Diego, Orange County and Santa Monica.

Except for historical information contained within, this release includes certain forward-looking statements and projections, including the statements of Don Speer, Chairman and CEO, and Sanjay Sabnani, President. These statements, which relate to the Company's intentions with respect to future operations, are based on management's belief, as well as assumptions made by, and information currently available to, management. The statements regarding Pacific Century CyberWorks Limited are not a projection or assessment by or on behalf of the Company. The description of Pacific Century CyberWorks Limited was obtained through Pacific Century CyberWorks Limited 's public information. While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that the Company's plans, objectives and financial goals will be realized. Numerous factors (including risks and uncertainties) may affect the Company's actual results and may cause its plans and objectives to differ materially from those expressed in the forward-looking statements made by or on behalf of the Company. Some of these factors include the ability of the Company to successfully brand its services, the ability of the Company to execute its growth strategies; the success of the Venture Catalyst businesses; and other factors detailed in the Company's Form 10-KSB, Forms 10-QSB and other reports filed pursuant to the Securities Exchange Act of 1934, as amended.

diese elend langen Threads auf englisch sind selbst mir zu viel,zumal eine kurze Zusammenfassung auf deutsch sicher nützlich wäre,z.B
PCCW zahlt eine Million Dollar für die Rechte an dem Domain-Namen Cyberworks .com  und .net an Venture Catalyst incorporated
      mit freundlichen Grüssen Kicky

Aug 21,2000 - 10:08:37 HKT [Quote] [NetTraderCards] [Chart] (8)

Pacific Century CyberWorks (0008), Asia's biggest Internet investment firm, will announce this week an acquisition of a Japanese content aggregator, Bloomberg reported, citing Todd Bonner, the chief executive of PCCW's Japan operations. PCCW expects to grab a 30 percent share in the Japanese broadband Internet content market by forming partnerships with providers of music, games, fashion, cartoon and other contents. Japan's users of broadband Internet service is expected to reach 20 million by 2005.
At 10:06 a.m. Hong Kong time, PCCW shares were trading at HK$15.30, down 0.33 percent.