Forum Archive Index - November 2000

["Wedde, John" <john.wedde@cit.ac.nz>]

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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