Monday, May 29 9:50 AM SGT
MARKET TALK-HK: CyberWorks Rated As Strong Buy
0949 [Dow Jones] STOCK CALL: Prudential Bache Securities and Credit Lyonnais say
recent weakness in Pacific Century CyberWorks (1186) provides good opportunity for
investors to buy. Prudential upgrades 12-month target to $26, projecting CyberWorks will
post net loss of US$188 million for FY00, factoring 1H99 impact from Cable & Wireless
HKT (0008); expects company will post net profit of US$1.53 billion for FY01; says after
merger, entity worth $26.10/share and recommends strong buy. Credit Lyonnais
estimates FY00 net loss of US$82 million and FY01 net loss to widen to US$220 million,
expects company to post net loss until FY03 when it will likely post net profit of US$460
million. CyberWorks U.S. OTC closed up 4% to $13.07; HK shares down 1.1% to close
at $13.40.(STT)
MARKET TALK-HK: CyberWorks Rated As Strong Buy
0949 [Dow Jones] STOCK CALL: Prudential Bache Securities and Credit Lyonnais say
recent weakness in Pacific Century CyberWorks (1186) provides good opportunity for
investors to buy. Prudential upgrades 12-month target to $26, projecting CyberWorks will
post net loss of US$188 million for FY00, factoring 1H99 impact from Cable & Wireless
HKT (0008); expects company will post net profit of US$1.53 billion for FY01; says after
merger, entity worth $26.10/share and recommends strong buy. Credit Lyonnais
estimates FY00 net loss of US$82 million and FY01 net loss to widen to US$220 million,
expects company to post net loss until FY03 when it will likely post net profit of US$460
million. CyberWorks U.S. OTC closed up 4% to $13.07; HK shares down 1.1% to close
at $13.40.(STT)
