PCCW expected to report 2002 loss on heavy charges

HONG KONG: The territory's dominant phone company PCCW Ltd, facing a shrinking share of a weak local market, is expected to report a net loss for 2002 on heavy one-off charges, and analysts say prospects are dim for significant near-term revenue growth. 

PCCW is expected to post a net loss of HK$7.5bil on Thursday, according to Multex Global Estimates, capping a tumultuous year for the company headed by 36-year-old Richard Li, the son of Asia’s richest businessman Li Ka-shing.