PCCW launches Cascade Limited
Cascade to provide PCCW network operations and seek new business revenues in Hong Kong and across Asia
New PCCW subsidiary will be Hong Kong’s largest technical services company
Hong Kong, November 18, 2002 – PCCW Limited today announced the formation of a new wholly-owned subsidiary, Cascade Limited, which, at launch, will become Hong Kong’s largest technical services company.
Cascade Limited will continue to provide PCCW’s telecommunications network operations, support and maintenance services. In addition, Cascade will be free to pursue new business opportunities in related technical services in Hong Kong and throughout Asia Pacific.
Cascade, which will become operational on January 1, 2003, will run under separate management headed by Managing Director WW Chan (Chan Wing Wa), reporting to PCCW Chief Operating Officer Mike Butcher.
The network operations, support and maintenance functions currently carried out by PCCW's Network and Services Business division (NSB) will be transferred to Cascade, a 100 percent-owned PCCW subsidiary. The network switching and infrastructure assets remain within PCCW.
As part of PCCW, Cascade already designs, builds and maintains ATM and other networks for banks, as well as operating systems for share trading, airports, IT companies and major transport and infrastructure corporations.
Cascade will serve a variety of PCCW clients across many sectors, including: the Hong Kong International Airport Authority, the Bank of China (Hong Kong), the Stock Exchange of Hong Kong Limited, the Hong Kong Jockey Club, LG Philips Display International Limited, and Hong Kong’s Mass Transit Railway Corporation (MTRC).
Mr. Butcher said: "Today’s announcement represents the latest stage in the strategic realignment of PCCW. It is an important change to our existing business model. This initiative allows PCCW to maintain its industry-leading service standards and, at the same time, presents us with a real opportunity to increase revenues by taking on new business in Hong Kong and across Asia. In addition, we are able to begin operations servicing a very impressive and diverse range of extremely good customers.
"Today we are taking the first step in our plan to unlock the value of our technical services business which, to date, has been too well hidden within our organization. We firmly believe that this initiative puts us ahead of the market and in a very strong position to capitalize on the services sector -- the fastest growing segment of our industry.
"This is a bold move at a difficult time in our industry, globally, but it is a move that can only be good for PCCW, its customers, staff and the Hong Kong IT&T industry.”
Cascade will be launched as an independent enterprise. Some 3,000 plus highly skilled engineers and technical experts will transfer from PCCW’s Network Services Business into Cascade. From day one, Cascade will rank among the top five technical services companies in the region by size and experience.
Mr. Chan, managing director of Cascade Limited said: “Cascade begins life with a highly skilled and experienced staff -- many with more than 15 years experience -- and a reputation built over decades as a leader in its field. This gives Cascade a distinct edge to move ahead of its competitors.”
Cascade will be the first technical services company in Asia to hold TL9000 certification for excellence in technical support and network maintenance.
Cascade will provide a range of services, including network infrastructure design, build-out and maintenance; consulting solutions; customer installation and maintenance services; project management; operating systems development and maintenance; and technical support.
These services will be provided to a wide range of organizations in telecommunications, banking, manufacturing, retailing and other industries that rely on networks and operating systems.
Cascade will continue to maintain PCCW’s network and systems in Hong Kong, including its e-Center (Network Operations Center or NOC); the Internet platform; integrated voice and data systems; customer premises equipment; and other traditional wireline functions (switching, transmission, and load balancing); as well as providing support to mobile wireless service providers.
The creation of Cascade follows the establishment of 17 sub-contractor companies, which have preferred service contracts to PCCW in the areas of outdoor plant maintenance and cabling work, exchange maintenance, customer premises field services, workshop and payphone services. A total of 1,591 former PCCW employees, or 97 percent of eligible staff, joined these independent companies. In addition, Cascade will be able to call upon a separate subcontracting network of over 3,000 engineers and technicians.
Cascade will be operated independently, but its strategic decisions, planning and procurement will remain with PCCW. Operational methods and procedures will be maintained to the highest international service standards, the same standards currently used at PCCW.
There will be no change to arrangements for PCCW customers.
About PCCW
PCCW Limited (SEHK: 0008, ADR-NYSE: PCW), the Hong Kong-listed flagship of the Pacific Century Group, is one of Asia's leading integrated communications companies. From its market-leading position in Hong Kong, PCCW is focused on building shareholder value by leveraging synergies between its core businesses and partners, and by delivering total solutions to customers throughout Asia. PCCW provides key services in the areas of: integrated telecommunications; broadband solutions; connectivity; narrowband and interactive broadband (Internet Services); business e-solutions; data centers and related infrastructure.
To learn more about PCCW, visit www.pccw.com
For media inquiries, please call: For investor inquiries, please call:
Joan Wagner Garth Collier
VP, Corporate Communications Director of Investor Relations
Tel: (852) 2514-8883 Tel: (852) 2514-5084
Email: joan.wagner@pccw.com Email: ir@pccw.com
Cascade to provide PCCW network operations and seek new business revenues in Hong Kong and across Asia
New PCCW subsidiary will be Hong Kong’s largest technical services company
Hong Kong, November 18, 2002 – PCCW Limited today announced the formation of a new wholly-owned subsidiary, Cascade Limited, which, at launch, will become Hong Kong’s largest technical services company.
Cascade Limited will continue to provide PCCW’s telecommunications network operations, support and maintenance services. In addition, Cascade will be free to pursue new business opportunities in related technical services in Hong Kong and throughout Asia Pacific.
Cascade, which will become operational on January 1, 2003, will run under separate management headed by Managing Director WW Chan (Chan Wing Wa), reporting to PCCW Chief Operating Officer Mike Butcher.
The network operations, support and maintenance functions currently carried out by PCCW's Network and Services Business division (NSB) will be transferred to Cascade, a 100 percent-owned PCCW subsidiary. The network switching and infrastructure assets remain within PCCW.
As part of PCCW, Cascade already designs, builds and maintains ATM and other networks for banks, as well as operating systems for share trading, airports, IT companies and major transport and infrastructure corporations.
Cascade will serve a variety of PCCW clients across many sectors, including: the Hong Kong International Airport Authority, the Bank of China (Hong Kong), the Stock Exchange of Hong Kong Limited, the Hong Kong Jockey Club, LG Philips Display International Limited, and Hong Kong’s Mass Transit Railway Corporation (MTRC).
Mr. Butcher said: "Today’s announcement represents the latest stage in the strategic realignment of PCCW. It is an important change to our existing business model. This initiative allows PCCW to maintain its industry-leading service standards and, at the same time, presents us with a real opportunity to increase revenues by taking on new business in Hong Kong and across Asia. In addition, we are able to begin operations servicing a very impressive and diverse range of extremely good customers.
"Today we are taking the first step in our plan to unlock the value of our technical services business which, to date, has been too well hidden within our organization. We firmly believe that this initiative puts us ahead of the market and in a very strong position to capitalize on the services sector -- the fastest growing segment of our industry.
"This is a bold move at a difficult time in our industry, globally, but it is a move that can only be good for PCCW, its customers, staff and the Hong Kong IT&T industry.”
Cascade will be launched as an independent enterprise. Some 3,000 plus highly skilled engineers and technical experts will transfer from PCCW’s Network Services Business into Cascade. From day one, Cascade will rank among the top five technical services companies in the region by size and experience.
Mr. Chan, managing director of Cascade Limited said: “Cascade begins life with a highly skilled and experienced staff -- many with more than 15 years experience -- and a reputation built over decades as a leader in its field. This gives Cascade a distinct edge to move ahead of its competitors.”
Cascade will be the first technical services company in Asia to hold TL9000 certification for excellence in technical support and network maintenance.
Cascade will provide a range of services, including network infrastructure design, build-out and maintenance; consulting solutions; customer installation and maintenance services; project management; operating systems development and maintenance; and technical support.
These services will be provided to a wide range of organizations in telecommunications, banking, manufacturing, retailing and other industries that rely on networks and operating systems.
Cascade will continue to maintain PCCW’s network and systems in Hong Kong, including its e-Center (Network Operations Center or NOC); the Internet platform; integrated voice and data systems; customer premises equipment; and other traditional wireline functions (switching, transmission, and load balancing); as well as providing support to mobile wireless service providers.
The creation of Cascade follows the establishment of 17 sub-contractor companies, which have preferred service contracts to PCCW in the areas of outdoor plant maintenance and cabling work, exchange maintenance, customer premises field services, workshop and payphone services. A total of 1,591 former PCCW employees, or 97 percent of eligible staff, joined these independent companies. In addition, Cascade will be able to call upon a separate subcontracting network of over 3,000 engineers and technicians.
Cascade will be operated independently, but its strategic decisions, planning and procurement will remain with PCCW. Operational methods and procedures will be maintained to the highest international service standards, the same standards currently used at PCCW.
There will be no change to arrangements for PCCW customers.
About PCCW
PCCW Limited (SEHK: 0008, ADR-NYSE: PCW), the Hong Kong-listed flagship of the Pacific Century Group, is one of Asia's leading integrated communications companies. From its market-leading position in Hong Kong, PCCW is focused on building shareholder value by leveraging synergies between its core businesses and partners, and by delivering total solutions to customers throughout Asia. PCCW provides key services in the areas of: integrated telecommunications; broadband solutions; connectivity; narrowband and interactive broadband (Internet Services); business e-solutions; data centers and related infrastructure.
To learn more about PCCW, visit www.pccw.com
For media inquiries, please call: For investor inquiries, please call:
Joan Wagner Garth Collier
VP, Corporate Communications Director of Investor Relations
Tel: (852) 2514-8883 Tel: (852) 2514-5084
Email: joan.wagner@pccw.com Email: ir@pccw.com
