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I've been hearing that Merrill Lynch brokers are pushing this stock, claiming that it is destined to be the AOL of Asia, despite the fact that it is still a Bulletin Board company.
When I decided to do my initial research tonight on exactly what and who PCCLF is, I had to admit that I was quite surprised.
PCCLF is ran by none other than Richard Li, 31, founder of Star TV (which he later sold to Rupert Murdoch's NewsCorps for some $900 million), and heir to the $9 Billion fortune of his father.
Li invested $129 million in Softnet (SOFN) back in Oct, 1999:
On top of that, Li appears to be using his holding company to invest in holding companies in various parts of Asia, such as Singapore:
(hope this link continues to work)
So I would be very interested in seeing others flesh out this story for the rest of us.
I don't buy the AOL analogy, but I certainly see a comparison with CMGI (which is supposedly ALSO a major shareholder in PCCLF), and SoftBank.
One last thing... This stock is VERY DIFFICULT to get an accurate quote on. Etrade shows it, but Yahoo and SI do not reflect a quote.
Go to www.etrade.com for a delayed quote, but no bid/ask.. yet.
I can't figure out why there is no bid/ask, when Merrill is so actively discussing the stock with their customers.
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