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2002-9-30 02:22:00 p.m. HKT, XFNA
Quam seeks to cut operating costs, explore new expansion opportunities
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HONG KONG (AFX-ASIA) - Quam Ltd (852.HK) chairman Bernard Pouliot said
the company will seek to cut operating costs and to explore new expansion
opportunities in order to deal with the difficult economic conditions.
He said the company is debt-free and has 180 mln hkd worth of securities
investments, and therefore has adequate cash for any future investment.
But he added the company's profitability will highly depend on market
conditions.
Pouliot forecast that the stock market will gradually improve in the next
12 months and the company's business will likely improve by the end of 2003
and early 2004.
Earlier, the company acquired e-Credit Information Network, which has
already started to make a profit contribution, he said.
He said the company has reserved some capital for the business
development of Quam China, adding it hopes to make Quam China self-sustaining
as soon as possible.
wilfred.lee@afxnews.com
wl/zr
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