(Hong Kong - December 7, 2000) Founder Holdings Limited ( "the Company" ), a SEHK-listed company principally engaged in software development and systems integration, was recently put on the list of Asia's leading corporates in 2000 ( "the List" ) by HSBC Securities (Asia) Limited. The List was revealed at HSBC's Asian 100 Investor Conference held in Kuala Lumpur in October 2000.
The objective of the HSBC listing is to "establish what they believe are the key drivers of shareholder value creation and highlight companies that they feel are on the correct track". With the advent of the Asian financial crisis, HSBC believes that the Asian business environment has changed and so have the challenges in creating shareholder value here. In order to help investors identify which companies are up to the challenge of changing with Asia, the List has been compiled, representing companies in Asia (ex-Japan), that - according to HSBC - have delivered or expect to deliver shareholder value. In the said listing, HSBC emphasizes the importance of companies that have been displaying renewed focus on its core business, which they believe "look set to create value".
In September this year, the interim report of Founder Holdings Limited reported a profit attributable to shareholders of HK$51 million against a loss of HK$106 million in the corresponding period last year. Turnover amounted to HK$883 million, representing an increase of 10% over the same period last year. The profit margin, as well as the sales volume, has been picking up in various businesses carried by the Company. All these are largely due to a series of successful restructuring in 2000 and the Company is now back on the correct track, which is clearly what HSBC sees positively in the Company. The Company has streamlined various aspects of its business and has renewed focus on software development and systems integration, in particular, for the media and financial industries. The Company's presence in Asia has gradually expanded from Mainland China to Hong Kong, Malaysia, Japan, Taiwan and South Korea.
The range of potential candidates for listing is determined by HSBC's analyst coverage. Also on the list are names, such as Cathay Pacific Airways, Cheung Kong Infrastructure Holdings Limited, China Unicom Limited, CLP Holdings Limited, Legend Holdings Limited, Hyundai Electronics Industries Co., Ltd. and Pacific Century CyberWorks Limited. Industries covered by the List include technology downstream/upstream, telecom, software, computers and peripherals, transportation/aviation, property, facilities and business services, etc.
For further information, please contact:
Founder Holdings Limited
Ms Cindy Cheung
cindy@founder.com.hk
tel: 852.26114124
fax: 852.26114117
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