Hutchison Telecom Announces Results for Financial Year Ended 2004
And Q4 KPIs Key highlights * 2004 turnover was up 48.1% to HK$15.0
billion * Turnover increases in all markets, with particularly
strong growth in India * Mobile customer base grew to 12.6 million,
a 47.3% increase from the start of 2004 * Mobile customer base
increased 8.3% during the fourth quarter * ARPUs were relatively
stable across all markets, despite strong competition Financial
highlights 2004 2003 HK$'million HK$'million Change Turnover 14,960
10,104 48.1 % Operating Profit 1,859 869 113.9 % Operating Profit
excluding 559 869 one-time gain (35.7%) Profit (loss) attributable
to shareholders 72 (214) -- Earnings per share HK$0.02 HK$(0.05) --
HONG KONG, March 7 /Xinhua-PRNewswire-FirstCall/ -- Hutchison
Telecommunications International Limited ('Hutchison Telecom' or
the 'Company'; SEHK: 2332; NYSE: HTX) today announced a robust
48.1% increase in Group turnover, with all operating companies
performing well in highly competitive markets. This reflects strong
growth in the Company's customer base across all its markets, where
the overall number of customers grew 47.3% to 12.6 million as at 31
December 2004. Each of the Group's operating companies reported
increased turnover in 2004, with particularly strong growth in
India, which contributed 47.4% of Group turnover, whilst Hong Kong
represented 42.9% (mobile 24.8% and fixed 18.1%) and Thailand 8.1%.
The Group's operating profit, including share of net profits of
associated companies, also increased to HK$1,859 million, supported
by strong operating results especially from India and Israel.
Excluding a one-time gain of HK$1,300 million realised on the
disposal of shares, the underlying operating profit was HK$559
million. Whilst its turnover and customer base grew, the Group also
introduced initiatives to lower its cost base so as to further
enhance financial performance and organizational efficiency.
Commenting on the results, Dennis Lui, Chief Executive Officer of
Hutchison Telecom, said: 'We are delighted to announce strong
growth in earnings and customers in our first full-year results
announcement as a public company. These results reflect our ability
to build businesses and maintain leadership positions in very
competitive markets and to create value for shareholders. 'In many
of the countries in which we operate we recorded rapid increases in
the number of customers, underscoring the huge potential of these
markets. The recent licence award in Vietnam offers exciting
prospects that we expect will provide a platform to further drive
our growth.' Tim Pennington, Chief Financial Officer of Hutchison
Telecom, said: 'We continue to see strong momentum in customer base
growth and ARPUs were relatively stable in most of our markets
despite intense competition. Since the IPO we have introduced a
number of cost saving initiatives, and we are continually reviewing
opportunities for synergies to further strengthen the Group's
competitive position.' The Company did not declare any dividends
for the year ended 31 December 2004. Key markets review India --
Customer base increased 74.7% from 2003 to 7.2 million -- Turnover
increased 57.7% to HK$7,093 million -- EBITDA increased 42.7% to
HK$2,201 million Growth in the India business continued to be
strong, reflecting the growth of the overall market and the Group's
position within the market. In Q4 2004, the customer base increased
12.7% and despite strong competition, average revenue per user
('ARPU') remained constant at INR589 on the previous quarter. The
Company also announced today that the preliminary agreement to
acquire Aircel was mutually terminated. Hong Kong and Macau Hong
Kong and Macau Mobile -- Customer base increased 12.2% from 2003 to
2.2 million -- Turnover increased 6.6% to HK$3,714 million --
EBITDA of HK$316 million Hutchison Telecom continued to be the
largest operator in Hong Kong in terms of the number of mobile
customers and maintained its technology leadership position through
the introduction of 3G services in early 2004. As at 31 December
2004, the Group had over 1,350 3G cell sites, giving it 99%
population coverage, which is more than any other 3G network in
Hong Kong. Despite intense competition and general downward trend
in the market, the Group was able to increase turnover for the
first time in three years, driven by 3G revenues. Hong Kong Fixed
Line -- Turnover increased 65.9% to HK$2,701 million -- EBITDA
increased approximately 5.5% to HK$704 million The Group, through
Hutchison Global Communications Limited ('HGC'), operates a
state-of-the-art fibre-network reaching over 1.2 million households
and over 5,000 buildings. It also operates the largest fibre optic
pipe to Mainland China. In terms of growth in revenues and profits,
HGC's performance has been one of the most impressive amongst its
peers. Please refer to the announcement issued today by Hutchison
Global Communications Holdings Limited on its consolidated results
for the financial year ended 31 December 2004. Thailand -- Customer
base increased to 615,000 -- Turnover increased to HK$1,219 million
-- EBITDA loss reduced to HK$280 million as customer base continued
to grow The Group is the only operator in Thailand operating on a
high speed CDMA2000 network. It increased its market share by
differentiating its services by offering its customers a high-speed
multimedia service in 25 provinces that is not available anywhere
else in Thailand. Israel -- Customer base increased 11.3% from 2003
to 2.3 million -- Contribution to operating profit up 26.9% to
HK$755 million Partner Communications Company Ltd. ('Partner'), a
listed associate company of the Group, demonstrated its ability to
continue grow its business in a highly competitive market. In
December 2004, Partner became the second company within the Group
to launch 3G services. If the announced buyback of Partner shares
is completed, Hutchison Telecom's interest in Partner will increase
to more than 50%. Appointment of new director The Company is
delighted to announce today the appointment of Cliff Chiu Man Woo,
its Chief Technology Officer, to its board of directors. Outlook
The Group remains very positive about its performance going forward
and expects double-digit Group turnover growth to continue. It
anticipates double-digit mobile customer growth and to see all of
its businesses make net customer additions. As in 2004, the Group
expects India to be a key area of customer growth. With a focus on
driving rapid growth in the customer base, total capital
expenditure in 2005 is expected to be around the same as in 2004.
Approximately 60% of total capital expenditure is expected to go to
continued investment in India, to build out new areas and increase
capacity. About 25% of total capital expenditure is expected to be
invested in Hong Kong, with the majority of the balance across
Vietnam, Thailand and other operations. Note to Editors: Hutchison
Telecommunications International Limited ('Hutchison Telecom') is a
leading global provider of telecommunications services. The
Company's business is currently in nine markets around the world.
Hutchison Telecom currently operates mobile and fixed telecom
services in Hong Kong and mobile services also in Macau, India,
Israel, Thailand, Paraguay, Sri Lanka and Ghana. It expects to
launch mobile services in Vietnam later this year. Hutchison
Telecom was the first provider of 3G mobile services in Hong Kong,
where it also provides broadband fixed-line services. Hutchison
Telecom operates common brands across its business including
'Hutch,' '3' and 'Orange.' Hutchison Telecom is a listed company
whose American depositary shares are quoted on the New York Stock
Exchange under the symbol 'HTX' and shares are listed on the Hong
Kong Stock Exchange under the stock code '2332.' A subsidiary of
the Hong Kong-based Hutchison Whampoa Group, Hutchison Telecom is
dedicated to providing superior telecommunications services in
markets with high growth potential. For more information, please
visit http://www.htil.com/ . Forward-looking statements This
release contains forward-looking statements. Statements that are
not historical facts, including statements about Hutchison
Telecom's beliefs and expectations, are forward-looking statements.
These statements are based on current plans, estimates and
projections, and therefore you should not place undue reliance on
them. Forward-looking statements speak only as of the date they are
made, and Hutchison Telecom undertakes no obligation to update
publicly any of them in light of new information or future events.
Forward- looking statements involve inherent risks uncertainties
and assumptions. Hutchison Telecom cautions you that if these risks
or uncertainties ever materialise or the assumptions prove
incorrect, or if a number of important factors occur or do not
occur, the company's actual results may differ materially from
those expressed or implied in any forward-looking statement.
Additional information as to factors that may cause actual results
to differ materially from Hutchison Telecom's forward-looking
statements can be found in Hutchison Telecom's filings with the
United States Securities and Exchange Commission. Caution statement
The board of directors of HTIL wishes to remind investors that the
following key performance indicators are based on the Group's
unaudited internal records. Investors are cautioned not to unduly
rely on such data. While non GAAP (generally accepted accounting
principles) measures such as EBITDA (earnings before interest,
taxation, depreciation and amortisation) and LBITDA (losses before
interest, taxation, depreciation and amortisation) are often used
by companies as an indicator of operating performance, they are not
expressly permitted measures under GAAP in Hong Kong and may not be
comparable to similarly titled measures for other companies.
Accordingly, such non-GAAP measures should not be considered as an
alternative to operating income as an indicator of the operating
performance of the Group or as an alternative to cash flows from
operating activities as a measure of liquidity. The use of non-GAAP
measures is provided solely to enhance the overall understanding of
the Group's current financial performance. Additionally because the
Group has historically reported certain non GAAP results to
investors, the Group considers the inclusion of non GAAP measures
provides consistency in our financial reporting. Quarterly KPI
Results 1. Customer base Customer base Q3 2004 Q4 2004 30 September
31 December 2004 2004 Total Postpaid Prepaid Total Postpaid Country
('000) ('000) ('000) ('000) ('000) Hong Kong (incl Macau) 2,195
1,270 925 2,176 1,248 India 7,159 2,135 5,024 6,351 1,797 Israel
2,340 1,640 700 2,269 1,576 Thailand 615 362 253 585 407 Others 244
205 GROUP MOBILE TOTAL 12,553 11,586 Notes: (1) A customer is
defined as a Postpaid Customer or a Prepaid Customer who has a SIM
or USIM that has access to the network for any purpose, including
voice, data or video services. (2) Post customers are defined as
those whose mobile telecommunications service usage is paid for in
arrears upon receipt of the mobile telecommunications operator's
invoice and who have not been temporarily or permanently suspended
from service. (3) Prepaid customers are defined as prepaid SIM
cards that have not been used up or expired at period end. (4) All
numbers quoted on the basis of the total customer base of the
operation irrespective of the Company's ownership percentage. (5)
All numbers quoted as at last day of the quarter. (6) Others
currently comprise Ghana, Paraguay and Sri Lanka. (7) The data for
Hong Kong for the period ended 31 December 2003 relates only to 2G
services and that for the periods ended 31 March 2004, 30 June
2004, 30 September 2004 and 31 December 2004 relates to both 2G and
3G services. Customer Base Q3 2004 30 September Q2 2004 2004 30
June 2004 Prepaid Total Postpaid Prepaid Country ('000) ('000)
('000) ('000) Hong Kong (incl Macau) 928 2,113 1,233 880 India
4,554 5,751 1,479 4,272 Israel 693 2,202 1,524 678 Thailand 178 530
429 101 Others 163 GROUP MOBILE TOTAL 10,759 Notes: (1) A customer
is defined as a Postpaid Customer or a Prepaid Customer who has a
SIM or USIM that has access to the network for any purpose,
including voice, data or video services. (2) Post customers are
defined as those whose mobile telecommunications service usage is
paid for in arrears upon receipt of the mobile telecommunications
operator's invoice and who have not been temporarily or permanently
suspended from service. (3) Prepaid customers are defined as
prepaid SIM cards that have not been used up or expired at period
end. (4) All numbers quoted on the basis of the total customer base
of the operation irrespective of the Company's ownership
percentage. (5) All numbers quoted as at last day of the quarter.
(6) Others currently comprise Ghana, Paraguay and Sri Lanka. (7)
The data for Hong Kong for the period ended 31 December 2003
relates only to 2G services and that for the periods ended 31 March
2004, 30 June 2004, 30 September 2004 and 31 December 2004 relates
to both 2G and 3G services. Customer Base Q1 2004 Q4 2003 31 March
2004 31 December 2003 Postpaid Postpaid Total Prepaid Total Prepaid
Country ('000) ('000) ('000) ('000) ('000) ('000) Hong Kong (incl
Macau) 2,040 1,210 830 1,957 1,164 793 India 5,129 1,182 3,947
4,099 906 3,193 Israel 2,165 1,501 664 2,103 1,463 640 Thailand 379
379 -- 224 224 -- Others 150 140 GROUP MOBILE TOTAL 9,863 8,523
Notes: (1) A customer is defined as a Postpaid Customer or a
Prepaid Customer who has a SIM or USIM that has access to the
network for any purpose, including voice, data or video services.
(2) Post customers are defined as those whose mobile
telecommunications service usage is paid for in arrears upon
receipt of the mobile telecommunications operator's invoice and who
have not been temporarily or permanently suspended from service.
(3) Prepaid customers are defined as prepaid SIM cards that have
not been used up or expired at period end. (4) All numbers quoted
on the basis of the total customer base of the operation
irrespective of the Company's ownership percentage. (5) All numbers
quoted as at last day of the quarter. (6) Others currently comprise
Ghana, Paraguay and Sri Lanka. (7) The data for Hong Kong for the
period ended 31 December 2003 relates only to 2G services and that
for the periods ended 31 March 2004, 30 June 2004, 30 September
2004 and 31 December 2004 relates to both 2G and 3G services. 2.
ARPU (per user per month) ARPU(1) Q3 2004 Q4 2004 30 September 31
December 2004 2004 Blended Postpaid Prepaid Blended Postpaid
Country Currency Hong Kong (incl Macau) HKD 156 210 40 151 205
India INR 589 1,247 318 583 1,293 Israel NIS 167 176 Thailand THB
876 1,187 313 927 1,116 Others USD 10.68 12.39 Notes: (1) ARPU is
calculated as the total service revenues during the period divided
by the weighted average number of activated customers in the
period. (2) The basis for the calculation has been changed from the
Prospectus in two material respects - (i) Customers - the quarterly
KPIs use weighted average subscribers whereas the Prospectus used
simple average; and (ii) Period - the quarterly KPIs use three
month average data whereas the Prospectus used 12 or 6 month
average data. (3) Service revenues are defined as the direct
recurring service revenues plus roaming revenues. (4) The data for
Hong Kong for the period ended 31 December 2003 relates only to 2G
services and that for the periods ended 31 March 2004, 30 June
2004, 30 September 2004 and 31 December 2004 relates to both 2G and
3G services. (5) Others currently comprise Ghana, Paraguay and Sri
Lanka. ARPU(1) Q3 2004 30 September Q2 2004 2004 30 June 2004
Prepaid Blended Postpaid Prepaid Country Currency Hong Kong (incl
Macau) HKD 36 152 207 36 India INR 318 591 1,408 328 Israel NIS 171
Thailand THB 334 1,137 1,246 331 Others USD 13.47 Notes: (1) ARPU
is calculated as the total service revenues during the period
divided by the weighted average number of activated customers in
the period. (2) The basis for the calculation has been changed from
the Prospectus in two material respects - (i) Customers - the
quarterly KPIs use weighted average subscribers whereas the
Prospectus used simple average; and (ii) Period - the quarterly
KPIs use three month average data whereas the Prospectus used 12 or
6 month average data. (3) Service revenues are defined as the
direct recurring service revenues plus roaming revenues. (4) The
data for Hong Kong for the period ended 31 December 2003 relates
only to 2G services and that for the periods ended 31 March 2004,
30 June 2004, 30 September 2004 and 31 December 2004 relates to
both 2G and 3G services. (5) Others currently comprise Ghana,
Paraguay and Sri Lanka. ARPU(1) Q1 2004 Q4 2003 31 March 2004 31
December 2003 Post- Pre- Blended Postpaid Prepaid Blended paid paid
Country Currency Hong Kong (incl Macau) HKD 146 201 33 160 212 39
India INR 592 1,467 339 707 1,861 386 Israel NIS 168 170 Thailand
THB 1,711 1,711 -- 1,370 1,370 -- Others USD 13.97 14.84 Notes: (1)
ARPU is calculated as the total service revenues during the period
divided by the weighted average number of activated customers in
the period. (2) The basis for the calculation has been changed from
the Prospectus in two material respects - (i) Customers - the
quarterly KPIs use weighted average subscribers whereas the
Prospectus used simple average; and (ii) Period - the quarterly
KPIs use three month average data whereas the Prospectus used 12 or
6 month average data. (3) Service revenues are defined as the
direct recurring service revenues plus roaming revenues. (4) The
data for Hong Kong for the period ended 31 December 2003 relates
only to 2G services and that for the periods ended 31 March 2004,
30 June 2004, 30 September 2004 and 31 December 2004 relates to
both 2G and 3G services. (5) Others currently comprise Ghana,
Paraguay and Sri Lanka. 3. Minutes of use MOU(1) Q3 2004 Q4 2004 30
September 31 December 2004 2004 Blended Postpaid Prepaid Blended
Postpaid Country Hong Kong (incl Macau) 407 573 50 396 558 India
337 625 219 334 662 Israel 288 291 Thailand 422 524 238 441 513
Others 179 184 Notes: (1)Minutes of Use - are the total minutes
carried over the network (2G total airtime usage + 3G voice and
video usage, including both inbound and outbound roaming during the
period) divided by the weighted average number of postpaid/prepaid
activated customers for the period. (2)The basis for the
calculation has been changed from the Prospectus in two material
respects - (i) Customers - the quarterly KPIs use weighted average
subscribers whereas the Prospectus used simple average; and (ii)
Period - the quarterly KPIs use three month average data whereas
the Prospectus used 12 or 6 month average data. (3)The data for
Hong Kong for the period ended 31 December 2003 relates only to 2G
services and that for the periods ended 31 March 2004, 30 June
2004, 30 September 2004 and 31 December 2004 relates to both 2G and
3G services. (4)Others currently comprise Ghana, Paraguay and Sri
Lanka. MOU(1) Q3 2004 30 September Q2 2004 2004 30 June 2004
Prepaid Blended Postpaid Prepaid Country Hong Kong (incl Macau) 51
377 535 46 India 211 343 731 218 Israel 283 Thailand 278 593 658
318 Others 178 Notes: (1)Minutes of Use - are the total minutes
carried over the network (2G total airtime usage + 3G voice and
video usage, including both inbound and outbound roaming during the
period) divided by the weighted average number of postpaid/prepaid
activated customers for the period. (2)The basis for the
calculation has been changed from the Prospectus in two material
respects - (i) Customers - the quarterly KPIs use weighted average
subscribers whereas the Prospectus used simple average; and (ii)
Period - the quarterly KPIs use three month average data whereas
the Prospectus used 12 or 6 month average data. (3)The data for
Hong Kong for the period ended 31 December 2003 relates only to 2G
services and that for the periods ended 31 March 2004, 30 June
2004, 30 September 2004 and 31 December 2004 relates to both 2G and
3G services. (4)Others currently comprise Ghana, Paraguay and Sri
Lanka. MOU(1) Q1 2004 Q4 2003 31 March 2004 31 December 2003
Blended Post- Pre- Blended Post- Pre- paid paid paid paid Country
Hong Kong (incl Macau) 368 523 43 383 528 45 India 348 775 224 333
732 221 Israel 280 276 Thailand 583 583 -- 727 727 -- Others 175
173 Notes: (1)Minutes of Use - are the total minutes carried over
the network (2G total airtime usage + 3G voice and video usage,
including both inbound and outbound roaming during the period)
divided by the weighted average number of postpaid/prepaid
activated customers for the period. (2)The basis for the
calculation has been changed from the Prospectus in two material
respects - (i) Customers - the quarterly KPIs use weighted average
subscribers whereas the Prospectus used simple average; and (ii)
Period - the quarterly KPIs use three month average data whereas
the Prospectus used 12 or 6 month average data. (3)The data for
Hong Kong for the period ended 31 December 2003 relates only to 2G
services and that for the periods ended 31 March 2004, 30 June
2004, 30 September 2004 and 31 December 2004 relates to both 2G and
3G services. (4)Others currently comprise Ghana, Paraguay and Sri
Lanka. 4. Churn (% per month) Churn(1) Q4 2004 Q3 2004 31 December
2004 30 September 2004 Blended Post- Pre- Blended Post- Pre- paid
paid paid paid Country Hong Kong (incl Macau) 4.5% 2.5% 7.3% 4.6%
2.8% 7.2% India 8.1% 5.8% 9.1% 8.0% 5.5% 9.0% Israel 1.0% 0.9%
Thailand 7.4% 6.7% 9.0% n.m. n.m. 7.8% Others 4.2% 2.4% Notes: (1)
Churn % represents the average of the churn rates for each month in
the period, which are calculated by dividing the number of
disconnections (net of reconnection and internal migration between
networks) for the relevant period by the subscriber numbers at the
beginning of such period. (2) The basis for the calculation has
been changed from the Prospectus in two material respects - (i)
Customers - the quarterly KPIs use weighted average subscribers
whereas the Prospectus used simple average; and (ii) Period - the
quarterly KPIs use three month average data whereas the Prospectus
used 12 or 6 month average data. (3) The data for Hong Kong for the
period ended 31 December 2003 relates only to 2G services and that
for the periods ended 31 March 2004, 30 June 2004, 30 September
2004 and 31 December 2004 relates to both 2G and 3G services. (4)
Others currently comprise Ghana, Paraguay and Sri Lanka. (5) n.m.
indicates not meaningful. Churn(1) Q2 2004 30 June 2004 Blended
Postpaid Prepaid Country Hong Kong (incl Macau) 4.8% 2.7% 7.9%
India 7.8% 5.5% 8.6% Israel 1.1% Thailand 2.1% 1.8% 3.5% Others
3.3% Notes: (1) Churn % represents the average of the churn rates
for each month in the period, which are calculated by dividing the
number of disconnections (net of reconnection and internal
migration between networks) for the relevant period by the
subscriber numbers at the beginning of such period. (2) The basis
for the calculation has been changed from the Prospectus in two
material respects - (i) Customers - the quarterly KPIs use weighted
average subscribers whereas the Prospectus used simple average; and
(ii) Period - the quarterly KPIs use three month average data
whereas the Prospectus used 12 or 6 month average data. (3) The
data for Hong Kong for the period ended 31 December 2003 relates
only to 2G services and that for the periods ended 31 March 2004,
30 June 2004, 30 September 2004 and 31 December 2004 relates to
both 2G and 3G services. (4) Others currently comprise Ghana,
Paraguay and Sri Lanka. (5) n.m. indicates not meaningful. Churn(1)
Q1 2004 Q4 2003 31 March 2004 31 December 2003 Blended Post- Pre-
Blended Post- Pre- paid paid paid paid Country Hong Kong (incl
Macau) 4.3% 2.3% 7.1% 3.4% 2.2% 5.2% India 6.4% 4.8% 6.9% 6.6% 5.3%
7.0% Israel 1.1% 1.1% Thailand 0.5% 0.5% -- 10.0% 10.0% -- Others
2.2% 2.2% Notes: (1) Churn % represents the average of the churn
rates for each month in the period, which are calculated by
dividing the number of disconnections (net of reconnection and
internal migration between networks) for the relevant period by the
subscriber numbers at the beginning of such period. (2) The basis
for the calculation has been changed from the Prospectus in two
material respects - (i) Customers - the quarterly KPIs use weighted
average subscribers whereas the Prospectus used simple average; and
(ii) Period - the quarterly KPIs use three month average data
whereas the Prospectus used 12 or 6 month average data. (3) The
data for Hong Kong for the period ended 31 December 2003 relates
only to 2G services and that for the periods ended 31 March 2004,
30 June 2004, 30 September 2004 and 31 December 2004 relates to
both 2G and 3G services. (4) Others currently comprise Ghana,
Paraguay and Sri Lanka. (5) n.m. indicates not meaningful.
Consolidated Income Statement Note 2003 2004 2004 HK$ millions HK$
millions US$ millions Company and subsidiary companies Turnover 3,4
10,104 14,960 1,918 Cost of inventories sold 547 1,400 180 Staff
costs 1,081 1,597 205 Depreciation and amortisation 4 2,262 3,059
392 Other operating expenses 5,936 9,098 1,166 Profit on partial
disposal of a subsidiary company 5 -- 1,300 167 Operating profit of
company and subsidiary companies 4 278 1,106 142 Share of profits
less losses of associated companies 591 753 96 Operating profit 869
1,859 238 Interest and other finance costs, including share of
associated companies, net 970 1,054 135 (Loss) profit before
taxation (101) 805 103 Current taxation charge 6 22 105 13 Deferred
taxation (credit) charge 6 (195) 384 49 Profit after taxation 72
316 41 Minority interests 286 244 32 Net (loss) profit attributable
to shareholders (214) 72 9 Dividends 7 -- -- (Loss) earnings per
share 8 (HK$0.05) HK$0.02 HK$0.02 For the notes to the income
statement, please refer to the announcement dated 7 March 2005
issued by Hutchison Telecommunications International Limited and
available on http://www.htil.com/ . Consolidated Balance Sheet 2003
2004 2004 Note HK$ HK$ US$ Millions millions millions ASSETS AND
LIABILITIES Non-current assets Fixed assets 17,697 20,228 2,593
Other non-current assets 4,075 4,339 557 Goodwill 6,168 6,139 787
Deferred tax assets 910 844 108 Associated companies 1,581 1,846
237 Amounts due from related companies 543 -- -- Long term deposits
93 79 10 Total non-current assets 31,067 33,475 4,292 Cash and cash
equivalents 9 1,993 2,102 270 Restricted cash 9 6 10 1 Other
current assets 9 3,177 4,211 540 Bank loans 3,723 12,281 1,574
Other loans 1,556 1,316 169 Debentures 204 247 32 Other current
liabilities 10 5,943 6,745 865 Net current liabilities (6,250)
(14,266) (1,829 Total assets less current liabilities 24,817 19,209
2,463 Non-current liabilities Long term loans 7,485 3,582 459
Amounts due to related companies 22,903 -- -- Deferred tax
liabilities 46 148 19 Other long-term liabilities 15 124 16 Total
non-current liabilities 30,449 3,854 494 Minority interests 743
1,068 137 Net (liabilities) assets (6,375) 14,287 1,832 CAPITAL AND
RESERVES Share capital -- 1,125 144 Reserves (6,375) 13,162 1,688
Shareholders' (deficits) funds (6,375) 14,287 1,832 For the notes
to the balance sheet, please refer to the announcement dated 7
March 2005 issued by Hutchison Telecommunications International
Limited and available on http://www.htil.com/ . For further
information, please contact: Citigate Dewe Rogerson Jeanette Ng
Tel: +852-2533-4641 Mobile: +852-9885-1225 Email: Sylvia Leung Tel:
+852-2533-4619 Mobile: +852-9033-5971 Email: DATASOURCE: Hutchison
Telecommunications International Limited CONTACT: Jeanette Ng,
+852-2533-4641, or mobile, +852-9885-1225, or , or Sylvia Leung,
+852-2533-4619, or mobile, +852-9033-5971, or , both of Citigate
Dewe Rogerson, for Hutchison Telecommunications Web Site:
http://www.htil.com/
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