Pacific Century Regional Developments

[dydx]

dydx

while we will not know the reasons for shares buyback by the company, are there exceptions that it may not be a good move ?
eg. STI already so high, etc ?

The main reasons/motivations for PCRD's management/BOD to have the company buying back its own shares should include:
(1) to enhance the value of the remaining shares;
(2) to return excess capital/cash to shareholders; and
(3) to give a signal to public shareholders and potential investors that in their opinion, the current share price at the $0.20 level does not reflect the true worth of the share.

Quite obviously, PCRD's stake in PCCW should be worth more than its corresponding book value or even market value. Would anyone in the forum who has done a valuation on PCRD's stake in PCCW be willing to share his findings?