Page 8 - Sphere No.11 (Apr 2004)

Hutchison Telecom
has extended its Hutch
cellular phone network in India to Rajasthan
and eastern Uttar Pradesh – with the brand
now embracing 75% of the country’s
purchasing power.
In Rajasthan, Hutchison Essar, a JV
of Hutchison Telecom and Essar
Group , has earmarked Rs 200 crores
(approximately US$41 million)
to bring
world-class
mobile
telephony,
customer
care and
value-added
services across the
desert state.
The Rajasthan market has one of
the highest potentials in India, with
only 2.5% of the population currently
using mobile phones.
Hutch has also expanded into eastern Uttar
Pradesh with a total commitment of
Rs 440 crores to extend from the current
65 key locations with 225 cell sites to 80
locations with 400 cell sites.
The Hutch network already embraces
Mumbai, Delhi, Kolkata, Chennai, Gujarat,
Andhra Pradesh, Karnataka and Haryana. It
was recently voted “India’s Most Respected
Telecom Company” in a Business World-
IMRB Survey and “Best Mobile Service in
India” by TNS CellTrack, an annual survey
covering mobile users in 13 telecom circles
in India.
MMS usage on the Hutch network has
meanwhile increased a phenomenal 20
times in a single year, from an average of
3,000 per a day in February last year to
60,000 in March 2004.
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H U T C H I S O N U P D A T E S
Newsbites
Hutch Extends India Network
INDIA
CK Communications,
a subsidiary of Cheung
Kong (Holdings) and Hutchison Global
Communications (HGC), has pioneered
a pilot scheme with HSBC for the first
videophone banking service in Asia enabled
by the revolutionary Vfone.
During a six-month pilot
scheme, HSBC customers
can utilise Vfone to
speak with HSBC’s
customer service
representatives face to
face from their
homes or
offices.
Ratings Rise
Moody’s Investors
Service on Dec. 21,
2003 upgraded the ratings of Partner
Communications from stable to positive.
Partner’s senior implied rating was upgraded
from Ba3 to Ba2; its issuer rating from B2 to
B1; its US$175 million senior subordinated
notes from B2 to B1; and the ratings for
senior bank credit facilities from Ba3 to Ba2.
On Feb. 16, 2004 Maalot upgraded Partner’s
corporate credit rating to A+.
Partner
Communications
reported record revenues in 2003 of
NIS 4,467.7 million (approximately
US$1,020.3 million) compared with
NIS 4,054.6 million in 2002. Net income
before taxes was also a record at NIS 529.6
million compared to NIS 84.2 million the
year before. Net income was NIS 1,162.7
million (2002 – NIS 84.2 million), or
NIS 6.34 per diluted ADS share (2002 –
NIS 0.46), which included a NIS 633.0
million tax benefit.
Operating profit for 2003 increased to
NIS 854.9 from NIS 533.4 million in 2002,
a 60.3% rise.
EBITDA increased to NIS 1,379.8 million,
up 31.1% from NIS 1,052.2. Estimated
market share rose from 29% in 2002 to 31%
in 2003.
For full results see: www.orange.co.il/
investor_site/financial_report.aspx
ISRAEL ISRAEL
Videophone Banking
HONG KONG
Three leading companies have joined forces to
provide a wide range of IT and
telecommunications services in Greater China and Asia.
On Jan. 28, 2004 Vanda Systems & Communications Holdings
(Vanda), the Hong Kong listed IT solutions company and an associate
of HWL, agreed to purchase 100% of Hutchison Global
Communications Investments (HGC), which wholly owns
leading Hong Kong fixed line operator Hutchison Global
Communications Ltd (HGCL). HGC is an indirect wholly owned
subsidiary of HWL, which became a major shareholder inVanda
in September 2003.
Vanda also agreed to buy 100% of PowerCom Network Hong
Kong (PowerCom), a provider of broadband services that can be
accessed through power sockets. PowerCom is a JV between Cheung
Kong Enterprises, an indirect wholly owned subsidiary of Cheung
Kong (Holdings) (CKH), and CLP Telecommunications,
a wholly owned subsidiary of CLP Holdings. HWL is an associate
of CKH.
The transaction was completed on March 12 and the new entity has
been renamed Hutchison Global Communications Holdings.
Tie-up Creates Technology Powerhouse
ASIA
Partner Rings up Record
T E L E C O M S ( 2 G )