The Company was incorporated in 1963 under the name Sim Lim Investments Ltd. In November 1989, Summa Surya Intl Ltd acquired a majority interest in the Company and changed it to Summa Investment Ltd in 1990. It changed its name to Seapower Asia Investments Ltd in 1994. In the same year later, the Company was acquired by the Pacific Century group, a Hong Kong-based company, and changed to its present name.
The Company's primary holdings include Pacific Century Cyberworks Ltd (PCCW) - the largest internet company in the Asia-Pacific region outside Japan, and Pacific Century Insurance Holdings Ltd, both of which are listed on the Stock Exchange of Hong Kong Ltd. The Company is also active in property investment and development and power generation.
In February 2000, PCCW bought over Cable & Wireless' 54 percent stake in Hongkong Telecom for around US$38 billion, one of Asia's largest corporate takeovers ever.
Currently, the Group has property development projects in India (Fort House and Golden Green Golf & Resorts), Singapore (Holt Road and The Clayton) and China (Pacific Century Place in Beijing, Shanghai Underground Parkade and Guangzhou Local Housing Development).
FY00 Turnover - Telecoms (70.8%) insurance (15.7%) muiltmedia/internet (8.4%)
property/trading (4.7%) other (0.4%).
1HFY01 profit rose 775 due to 18-fold increase in turnover, lifted mainly by HKT. Paccentury expects its performance to remain stable for the rest of FY01.
(wef : 15/01/02)
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