PCM: Pacific Media: New funding secures future

LS - I must admit that, on paper, PCM does not look good. They have a market capital of 14 million, a Return on Equity of minus 215% and an Operating Margin of minus 2600%! The SP is very low which probably reflects all this BUT the real question to ask is 'Does the company future look good'? There has been further comment in today's papers about the growth of China and I think we could be in at the beginning of the period when China really comes into its own. If this view is correct then I would see PCM as very good value! The involvement of Mr Chang is the key thing - if the company was run by an English man I wouldn't give them a chance against the Chinese but, run by Mr Chang, I think they could survive in what is a very hostile environment.