Pacific Century CyberWorks Chairman Richard Li appeared by closed-circuit television to discuss the Hong Kong-based firm loss of $886 million in 2000. In 1999, PCCW turned a profit of $44.5 million thanks to major investment gains. The 34-year-old Li had become Asia's most-celebrated Internet executive outside Japan.
Falling Stock Price
Pacific Century Cyberworks' American depositary receipts have lost about 80% since August, when they traded at $20. The ADRs represent 10 ordinary shares of PCCW traded on the Hong Kong stock market.
Wednesday: $4.18, down 19 cents
Monthly closes and latest
A Look at Pacific Century CyberWorks
* Parent: Pacific Century Group, established in October 1993 with proceeds after the sale of Star TV, the first Pan-Asian satellite television network, to News Corp.
* Telecommunications: Communications and Internet service provider with 2.2 million residential and 1.5 million commercial customers in Hong Kong
* Internet enterprises: Business-to-business and business-to-consumer services, data centers, Web hosting, investments in related companies
* Global communications: Broadband and wireless connectivity in the Asia-Pacific region
Sources: Bloomber News, Times research, company documents