Pacific Century Regional Developments

[pianist]

it is also difficult to see dividends from this counter because he is so rich and not in need of cash. besides he can starve the minority shareholders in sg while enriching himself and HK shareholders with dividends from HKT through their PCCW vehicle.

so net net, sg minority can only see price appreciation, but no dividend, sad sad.

[mkmk]

http://infopub.sgx.com/FileOpen/PCCW_Ann...eID=259813

PCCW Limited (the “Company”) notes the announcement of the Hong Kong Government today that HK Television Entertainment Company Limited ("HKTVE"), an affiliate of the Company, has been granted an approval-in-principle in relation to its application for a domestic free television programme service (free television) licence. The Company further notes that as a next step, the Communications Authority and the Administration will discuss the proposed licence conditions with HKTVE. The Company is making this announcement to bring such development to the attention of its shareholders.

Holders of shares or other securities of the Company and potential investors should exercise caution when dealing in the securities of the Company.

[CityFarmer]

Further info from news report.

Two win free-TV licences in Hong Kong

HONG KONG — PCCW, controlled by billionaire Richard Li, and I-Cable Communications have won initial approval to compete in Hong Kong’s free-to-air television market, after new permits were given for the first time in almost 40 years.

The awards to I-Cable’s Fantastic Television and PCCW’s HK Television Entertainment will double the number of free-to-air television operators and bring more investment into the market, Commerce Secretary Gregory So said. A bid by Hong Kong Television Network was rejected.

PCCW and I-Cable join Television Broadcasts and Asia Television, the only two free-to-air television providers in Hong Kong since 1978. Advertisers spent an estimated HK$13 billion in Hong Kong in 2012, with television accounting for about a third of that revenue, Bank of America Corp’s Merrill Lynch unit said in a February report.

I-Cable, a unit of Wharf Holdings, will invest more than HK$1 billion in the first six years of its proposed television service, while PCCW will spend over HK$600 million in the initial three years of operation, Mr So said.

The granting of the two licences is pending final approval, and the government doesn’t preclude handing out more permits in the future, Mr So said.

Hong Kong last granted a new licence in 1975 to Commercial Television, which ceased operations after three years. BLOOMBERG
http://www.todayonline.com/business/two-...-hong-kong

[kagemusha]

Share buyback looks to be consistently done at $0.26.
The trend on buyback looks to be higher now compared to last year.
Might still continue I believe, as the share price is below NAV of $0.3x.
Though no div but better than nothing.

[cyclone]

Interesting. Today share buy back of 22,180,000 shares at 0.26 sgd, it costs about SGD 5,78 million.

[cmm]

PCRD is just like a control company, not tangetible business at all.
Will it be possible that PCRD will be privatized and delisted from SGX?

[sgd]

hmm good qn I got a feeling they not intend to privatize but rather keep the listing and hang around in sgx for some long term strategic purpose ...

[davisng]

Hi, anyone know how much is worth per share for PC? How is possible the company buying back at 0.26 for almost 10% of the total numbers of shares and its price never
moved until recently? Thanks for sharing!

[sgd]

What I mean by long term strategic purposes and why I think privatization unlikely and they intend to keep Pacific listed - I could be wrong, I have no vested interest so here goes.

You think about what happened when Lee Ka Shing cross swords with the Keswicks - aka - the Jardines before hong kong reverted to China rule. Both bled very heavily from that.

JMH was listed in HK exchange once they delisted moved out then came here to Singapore.

But then Lee's kid also followed and came here, and Lee also has suntec reit co-incidence? are they still stalking the Jardines? possible keeping these listed companies around and if the opportunity ever presented use them as a launch pad? And we see JMH also have since been steadily buying back their stock over the years ?

but as I say I could also be wrong on the whole thing but if you looking for privatization deal I think JHM companies looks more likely.

The recent independence referendum crisis in scotland I thought there was a small crisis opportunity window because JMH is also listing in london and so they followed the london takeover code. A new scotland republic would mean maybe they wanted their own takeover code.

[Debronic]

PCRD’s share price has doubled over the last 3 years to a multi-year high of S$0.345 as at 16 April 2015 but yet remains very much undervalued. With the Company aggressively buying back its shares and reducing its public float to just above 13%, we think there is a good chance that this will be the year Richard Li finally privatises the Company.

Full details here:

http://stockresearchasia.com/1/post/2015...-pcrd.html