Forum Archive Index - November 2000

[Gerry Tyler-Smith <g.tylersmith@ext.canterbury.ac.nz>]

Thanks for that ... I am impressed with their websites ...


>Hi Gerry,
>According to Infotech [article 4 September], ITC's equity contribution to
>the China venture was only to be about US$1.5 million --- hardly "break the
>bank stuff".
>According to the CIBC  equity research paper [August 18] ITC  manage the
>venture for a fee of  US$0.6 million per annum. They are also entitled to a
>share of the fund's profits of 20%. Not a lot of downside and everything to
>gain. Sounds like a pretty good deal to me!!
>Cheers
>John [a committed ITC fan]
>
>               -----Original Message-----
>               From:   Gerry Tyler-Smith
>[mailto:g.tylersmith@ext.canterbury.ac.nz]
>               Sent:   Tuesday, 7 November 2000 09:43
>               To:     sharechat@sharechat.co.nz
>               Subject:        Re: [sharechat]ITC & China
>
>               dear Maree,
>
>               Mindful of  the experience of Fletchers and Aquaria in their
>China
>               dealings, and the lack of detail in ITC's Annual Report
>2000, on its US$20
>               miliion joint venture with the Tianjin  Venture Capital
>Preparatory Group,
>               don't you feel a trifle concenred about this upcoming
>committment ...?
>
>                 >I would have to concur with John's comment re the
>undervaluation of ITC
>               >stock. The news of the exo-net profit and then the chinese
>deal should have
>               >created more interest than it did. But thats the market for
>you.
>               >
>               >However, I hear that an announcement will come shortly
>regarding another ITC
>               >investment, Virtual Spectator. Apparently they have signed
>a deal to cover a
>               >international major sport. I did hear they were after F1
>motor racing, so
>               >perhaps thats what the deal entails. If it is the FI, then
>this will be big
>               >bucks for them.
>               >
>               >We'll have to see whether this has any effect on the
>markets valuation of
>               >ITC stock.
>               >
>               >discl: hold ITC.
>
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