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THE INTERNATIONAL JOURNAL of the HUTCHISON WHAMPOA GROUP SPHERE 8 SPHERE CONTENTS Number 8 March 2003

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THE INTERNATIONAL JOURNAL OF THE HUTCHISON WHAMPOA GROUP SPHERE 8 SPHERE CONTENTS Number 8 march 2003 2 8 UPDATES COMMUNITY NEWSBITES OUT OF THE BOX Latest developments from the A unique project forges links Hutchison press box. amongst creative talents on two continents. 12 COVER STORY 3 THE DIFFERENCE Next-generation mobile services have arrived in the UK and Italy under the 3 brand. 26 MANUFACTURING TOP OF THE GAME Since becoming HWL’s manufacturing arm, Hutchison Harbour Ring has been playing in a bigger league. 32 RETAIL FREQUENT BUYERS Nuance-Watson has raised the airport shopping experience to new heights. Cover: Illustration by David Chan Tik Wai P UBLISHED BY Hutchison Whampoa Limited, 22/F Hutchison House, 10 Harcourt Road, Central, Hong Kong. Website: hutchison-whampoa.com. In-house Editorial Team:Laura Cheung, Nora Yong,Pamela Wan.Editor:Mark Caldwell – Great Pacific Marketing Services Ltd. Design and production:Fiona Wat, Dharmistha Bradley, Blackie Hui, Kelly Cheunglittle red– hen, a division of the Asia City Publishing Group. Tel:2850 5500. Fax 2543 1220. Colour separation by Gilead Graphic International. Printing by Miracle Printing Group. No part of this magazine may be reproduced without the written permission of Hutchison Whampoa Limited. All rights reserved. Copyright © 2003 by Hutchison Whampoa Limited. Opinions expressed herein are those of the writers and do not necessarily reflect the opinion of Hutchison Whampoa Limited.All currency conversions are approximations. HUTCHISON UPDATES News CORPORATE TELECOMS JV to Promote China Tourism HGC Connects with China Hutchison Global Hutchison Whampoa (China) of China’s tourism industry. HONG KONG has become a founding JV Beijing Tourism’s assets include Beijing Communications partner (27.5%) of Beijing Badaling Tourism Development, Jian (HGC) and China Telecom have reached an Tourism Development Co. Guo Hotel Joint Venture Beijing, Beijing agreement to increase their interconnection (Beijing Tourism) together Long Qing Xia Tourism Development, capacity by 10Gbit/s to a total of 12.5Gbit/s. with Beijing Enterprises Great Wall Hotel Joint Venture, and the The expansion provides an additional Holdings (40%) and Beijing Tourism Holiday Inn Civic Center in San Francisco. connection path for the Hong Group (27.5%). Beijing Enterprises is the primary overseas Kong-Shenzhen-Guangzhou Synchronous The three companies are co-operating jointly commercial window for the Beijing Digital Hierarchy (SDH) Ring, increasing in light of the many opportunities brought Municipal Government while Beijing network and route diversity. about by Beijing’s successful bid for the 2008 Tourism Group is one of China’s largest HGC plans to introduce a series of Olympic Games and the rapid development tourist organisations. multimedia voice and video communications services, including Video Telephony,Video Mail, Share-eSee (a multi-party applause HWL Annual Results collaborative conferencing service) and e-Profile (an online biography application). 2002 2001 Changes Hutchison Whampoa HK$’ million HK$’ million Limited has again received Profit attributable to shareholders 14,288 11,980 19% applause a number of accolades Earnings per share HK$3.35 HK$2.81 19% from various media for its Hutchison Telecom (HK) and its Hutchison Whampoa Limited recorded an audited profit performance in 2002. prestigious brand Orange in December attributable to shareholders for the year amounted to Euromoney magazine placed were each awarded the “Superbrand” title HWL at the top of the list in HK$14,288 million (approximately US$1,832 million), an by the Superbrands Council.The brands the “Best Asian Companies – increase of 19% compared to the previous year. Earnings per successfully fulfilled the judging criteria, Conglomerate” category and share amounted to HK$3.35, an increase of 19% with a total which include market dominance, fourth in the “Best Companies dividend per share of HK$1.73 (2001 - HK$1.73). longevity, goodwill, customer loyalty and in Hong Kong” category. The results include profit on disposal of investments less overall market acceptance. In its “Review 200” awards, an provisions totalling HK$1,524 million (2001 - HK$3,124 annual survey that asks readers million) which primarily relates to a profit of HK$1,129 to rank companies in the million arising from the sale of equity interests in certain Partner Performs region by their leadership ports. Excluding these exceptional gains in both years, profit Partner Communi- qualities, the Far Eastern ISRAEL attributable to shareholders increased 44%, reflecting cations has announced a Economic Review ranked HWL continuous growth in the Group’s recurring operations. strong financial performance for 2002. third in the category “Asia’s Turnover for 2002 totalled HK$111,129 million, an increase Revenues for the year amounted to Leading Companies (Hong of 25% over that of 2001.Total EBIT for the year increased NIS4,054.6 million (approximately US$855.9 Kong)”. 13% to HK$24,447 million.All of the Group’s divisions, million), up 25% from NIS3,249.3 million in Global Finance meanwhile other than the finance and investment division, reported 2001. EBITDA was NIS1,052.2 million, up named HWL “Best Company EBIT ahead of last year.The Group’s cash and liquid 60% from NIS656.4 million. Operating profit in Asia-Pacific – investments, at market value, totalled HK$130,267 million. was NIS533.4 million, up 418% from Conglomerates/Logistics”. For full results, see www.hutchison-whampoa.com/NewsDIR/news NIS102.9 million in 2001. Net income was NIS84.2 million compared to a net loss of NIS303.4 million in 2001. Market share HUTCHISON WHAMPOA LIMITED increased to an estimated 29%, up from 27% Hutchison Whampoa Limited (HWL), one of the largest companies listed on the Hong at the end of 2001. Reflecting Partner’s solid Kong Stock Exchange, is the holding company of the Hutchison Whampoa Group of performance, Standard & Poor’s (S&P) in companies. As one of the earliest big “hongs” or trading companies in Hong Kong, February revised its outlook on the company Hutchison’s history dates back to the 1800s. Today, HWL is a multinational conglomerate with from stable to positive. S&P also affirmed its businesses spanning 41 countries.With over 150,000 employees worldwide, Hutchison operates and B+ long term corporate credit and B- senior invests in five core businesses: ports and related services; telecommunications; property and hotels; retail and manufacturing; and energy and infrastructure. unsecured debt ratings. Its flagship companies include Hutchison Port Holdings, Hutchison Telecom, Hutchison Whampoa Partner recently signed a new financial Properties, A.S.Watson, and Cheung Kong Infrastructure. In 2002, HWL’s consolidated revenue agreement with a number of banks and now was HK$111,129 million. has a fully funded business plan. SPHERE 2 bites TELECOMS NEC Takes Equity Stake NEC Corporation in HONG KONG October acquired from HWL a 5% strategic equity interest in both Hutchison Telephone Company Ltd. Hutchison Essar Hits the Headlines (HTCL) and Hutchison 3G HK Holdings Hutchison Essar period for the use of the “cellular (H3G HK) for a total cash consideration of INDIA claimed a world first in broadcast” technology licensed from US$73 million. January when its affiliated companies across privately held Israeli firm Celltick. HTCL and one of its subsidiaries are the India launched HutchAlive – a personalised, From Feb. 8, coinciding with the inaugural licensed providers of cellular mobile interactive broadcast service that game, the company launched the Cricket telephone services in Hong Kong and Macau. automatically updates mobile phones with World Cup video service exclusively on H3G HK, through a subsidiary, is the licensed text news headlines. Hutch GPRS phones, allowing subscribers operator of 3G mobile services in Hong Phones carry menus, such as a list of to see video clip replays. As part of Kong. headlines, and users pay for selecting related HutchWorld, Hutchison Essar is also offering As part of this transaction, HWL's interest in information, such as the story behind the photo messaging, e-mail and games. HTCL and H3G HK has changed from headline, which is sent by the network. Reflecting the company’s progressive 74.63% to approximately 71%, while NTT Apart from News, key content areas are approach to technology as well as DoCoMo’s stake changed from 25.37% to Cricket, Entertainment, Astrology, Lifestyle management leadership, speedy response to approximately 24% for both companies. and Promotional Offers. HutchAlive was change, environmental consciousness and The deal creates a strong strategic partnership, simultaneously introduced across Mumbai, social responsiveness, Hutchison emerged as with NEC providing comprehensive support Delhi, Kolkata, Chennai, Gujarat, Andhra the clear No. 1 in a country-wide poll as for Hutchison’s worldwide 3G businesses. Pradesh and Karnataka under the Orange the “Most Respected Company in the and Hutch brands. Telecom Sector” published in Businessworld Hutchison had an exclusive head-start in January. Orange in the Black Hutchison AUSTRALIA “Hutch” Service Launched Telecommunications Retail Agreements (Australia) Ltd. under the Orange Mobile Hutchison CAT Hutchison 3G UK has brand recorded an EBITDA loss of A$14.1 THAILAND UK Wireless MultiMedia entered into agreements million (about US$8.3 million) for 2002, a Ltd., a joint venture between The with Dixons/The Link (290 stores), dramatic improvement on the 2001 loss of Communications Authority of Thailand Carphone Warehouse (470 stores) and A$112.9 million. For the first time, second half and Hutchison Wireless Multimedia Phones 4U (325 stores) to retail its 3 brand EBITDA was positive at A$2.1 million. Holdings, commercially launched a new products and services. The turnaround was delivered through mobile phone service in February under the customer and revenue growth and ongoing Hutch brand. rationalisation of operating costs. Profitability The Hutch service deploys CDMA2000 1X, was also enhanced by reduced capital which supports high speed wireless expenditure, down from A$254.2 million in technology that enable multimedia 2001 to A$31.1 million.
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