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Primary holding PCCW ( profit US$193mln +20% )
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yipyip
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06-Apr-2008 05:27
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BROKER CALL - HK's Hutchison Telecom target raised to 13.2 hkd, PCCW target raised to 5.3 hkd from 4.9 hkd - Morgan Stanley Wednesday, April 02, 2008; Posted: 02:45 AM HONG KONG, Apr 02, 2008 (XFN-ASIA via COMTEX) -- Morgan Stanley said it has raised its target price on Hutchison Telecommunications International to 13.2 hkd from 13 hkd while maintaining its "overweight" rating on the company following its good results. "We believe the street is still not giving it credit for its emerging market basket, especially after the company announced a tower sale of 500 mln usd and sale of the Ghana operations at 75 mln usd," it said. It raised the target price to account for stabilizing trends in wireline and better-than-expected 3G uptake in the Hong Kong market. "We find Hutchison Telecom better positioned from a capital management perspective as the self-imposed 2008 deadline to review its cash balance approaches," it added. It also upgraded its target prices on other telecom firms, including PCCW to 5.3 hkd from 4.9 hkd and Smartone to 8.6 hkd from 8.0. (1 usd = 7.8 hkd) roby.lau@xfn.com rl/kmq Pacific Century Regional Developments Limited : BACKGROUND The Company's primary holdings include PCCW Limited and Pacific Century Insurance Holdings Limited, both of which are listed on The Stock Exchange of Hong Kong Limited. The Company is also active in property investment and development and power generation. In February 2000, PCCW bought over Cable & Wireless' 54 percent stake in Hongkong Telecom for around US$38 billion, one of Asia's largest corporate takeovers ever. Currently, the Group has property development projects in India (Fort House and Golden Greens Golf & Resorts), Singapore (Holt Road and The Clayton), Hong Kong (Cyberport), China (Pacific Century Place in Beijing, Shanghai Underground Parkade and Gao Yao Power Plant, Guangdong) and Vietnam (Chancery Saigon Hotel). |
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yipyip
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19-Mar-2008 00:32
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http://www.pccw.com/NASApp/cs/BlobServer/20080306_presentation_chi.pdf?blobtable=FinancialUpload&blobcol=urlfile&blobkey=id&blobwhere=1204765549796&blobheader=application/octet-stream&wtsection=investors http://www.ddw.ca/showroom/pcg/main1.html |
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