Public company info - Hutchison Telecommunications International Ltd. , 02332.HK
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Hutchison Telecommunications International Ltd., 02332.HK - Company Profile
Chairman FOK Kin Ning Canning
Share Issued (share) 4,294,967,295
Par Currency Hong Kong Dollar
Par Value 0.25
Industry
Corporate Profile Business Summary: The Group is a leading international provider of mobile and fixed-line telecommunication services with operations in eight countries and territories. It is principally engaged in mobile telecommunications and related businesses in Hong Kong and Macau, India, Israel, Thailand, Indonesia, Vietnam, Sri Lanka and Ghana. The Group also has a fixed-line telecommunications business in Hong Kong. Business Review: Indonesia Our Indonesia operation further expanded its customer base in 2009 by adding over four million customers and exited the year with more than 8.5 million customers. This growth was achieved through a growing sales and distribution network of approximately 110,000 sales outlets and increased coverage of our network. To date our network has more than 8,800 on-air base stations covering 76% population of the country. Turnover increased 93.0% to HK$608 million compared to HK$315 million in 2008, driven mainly by the 89.5% growth in customer base. LBITDA was HK$1,300 million, compared to HK$1,153 million in 2008, and the increase was due mainly to the increased network costs as a result of the expanded footprint. The increase in network costs and other operating expenses was partially offset by the foreign exchange gain that arose from the translation of the finance lease obligations related to the sale and leaseback of the base station tower sites, while in 2008 an exchange loss was recorded. Profit on disposal of investments and others, net was HK$423 million, including a profit of HK$268 million on the disposal of base station tower sites and other income of HK$155 million mainly related to compensation received from network suppliers in the form of credit vouchers. During the year, 969 base station tower sites were sold to PT Profesional Telekomunikasi Indonesia (“Protelindo”). Together with 2,248 tower sites sold in 2008, a total of 3,217 base station tower sites were sold by the end of 2009. Operating loss for the year was HK$1,456 million compared to HK$353 million in 2008. If the profit on disposal of investments and others, net was excluded in each year, the Group’s Indonesia operation would have reported an operating loss of HK$1,879 million in 2009 compared to HK$1,549 million in 2008. Capital expenditure on fixed assets in 2009 was HK$2,864 million compared to HK$3,030 million in 2008, and was mainly for the network rollout and information technology platform to support the business growth. Total debt at the end of 2009 was HK$1,916 million compared to HK$2,034 million in 2008. This included mainly the finance lease obligation amounting to HK$1,697 million and HK$1,086 million in 2009 and 2008 respectively, arising from the sale and leaseback arrangement of the base station tower sites sold to Protelindo. A vendor finance loan of HK$948 million included in the total debt of 2008 was fully repaid during the first half of 2009, the repayment was funded by drawing down the loan facility provided by a subsidiary of HWL. Vietnam Our Vietnam operation delivered encouraging results in its first year of GSM operation and achieved a customer base of approximately 2.5 million, which was supported by a network of more than 3,800 base stations on-air and 80% population coverage. This was achieved within only nine months of operation since service launch. Turnover for the year was HK$141 million, which comprised mainly the airtime revenue recognised from the prepaid customer base. LBITDA was HK$361 million compared to HK$290 million in 2008, primarily a result of higher network and other operating costs incurred since the launch of GSM services in the second quarter. Operating loss reduced to HK$433 million, compared to HK$520 million in 2008, mainly due to the absence of a one-time accelerated depreciation recognised in the prior year that related mainly to the non-reusable CDMA equipment, which has been replaced with GSM equipment. Capital expenditure on fixed assets increased to HK$646 million compared to HK$259 million in 2008, was mainly for the GSM network rollout. Thailand Our Thailand operation continued to deliver positive earnings before interest, tax, depreciation and amortisation (“EBITDA”) in 2009, although turnover decreased 12.2% to HK$1,046 million compared to HK$1,192 million in 2008, driven mainly by the reduced customer base of 955,000 from approximately 1.1 million in 2008. EBITDA improved slightly to HK$83 million compared to HK$81 million in 2008. Operating profit was HK$78 million compared to HK$80 million in 2008. Capital expenditure on fixed assets decreased to HK$31 million compared to HK$34 million in 2008. The Group remains in ongoing discussions to exit this operation by way of sale to CAT Telecom Public Company Limited. Sri Lanka In 2009 the Sri Lanka operation continued to be affected by the intense market competition, increased government levies and an unstable economic environment although the hostilities that had affected the country for many years were finally concluded. Our customer base decreased 12.2% to 779,000 compared to 887,000 in 2008, while turnover was down 61.9% to HK$61 million compared to HK$160 million in 2008, impacted mainly by the decrease in customer base and lower Average Revenue Per User. LBITDA was HK$94 million compared to an EBITDA of HK$37 million in 2008. Operating loss for the year was HK$142 million. New management, and a renewed focus on sales and distribution and our marketing activities resulted in positive customer growth in the second half. In 2010 we plan to continue this focus and expand coverage into some areas of the country previously closed due to hostilities. At the end of 2009, the Sri Lanka operation had over 770 base stations on-air and over 60% population coverage. Hong Kong and Macau – Discontinued operations The Hong Kong and Macau operations contributed HK$196 million from operating activities to the profit for the period up to 7 May 2009. Israel – Discontinued operation The Israel operation contributed HK$8,321 million to the profit for the period up to 28 October 2009. This is comprised of HK$1,988 million from operating activities and HK$6,333 million being a one-off gain on disposal.

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