"Wharf Riding Wave
of Attractive Growth"
- Unaudited Group
profit of HK$1,119.7 million, an increase of 5.3 per cent over last
- Earnings per share
- Interim dividend
of 28 cents per share.
- Debt to total
assets ratio at 25.1 per cent.
outlook on Group revised from "negative" to "stable";
and upgraded five categories in Commercial Mortgage Backed Securities
ratings for Harbour City.
Group core portfolio about 90 per cent occupied, with retail at 96%.
Gateway II: retail fully let; office and serviced apartments over 80
per cent. Tower 6 of Gateway II expect launch in the fourth quarter.
of residential properties on schedule. Superstructure works for Sham
Tseng site and the Airport Railway Kowloon Station Package II in progress.
Presale of these projects scheduled for 2001. Forward sales for the
three Peak projects comprising Mountain Court, Chelsea Court and Hillview
Court subject to market conditions.
in Hong Kong achieved strong growth, and see further uptrend for full
in advanced stage to manage "The Marco Polo, Beijing".
Play" with three direct major revenue streams from Pay TV, Broadband
Internet and voice regarded as the only strategic formula for success
in increasingly competitive environment. The three solutions provide
unique bundling opportunities.
management has met all the targets despite two recessions occupying
four of the first six years of operation.
- Arising from first
or early mover advantage, significant growth seen across all aspects
- Pay TV subscribers
grew by 14 per cent to 480,000.
- Pay TV EBITDA
margin gained 9 points to 30 per cent and viewership share to 30
- Pay TV EBITDA
grew 63 per cent to HK$220 million and net profit achieved for the
- Internet subscribers
grew by 370 per cent to 180,000. Broadband Internet subscribers
introduced in March have exceeded 20,000.
- Total i-CABLE
revenue grew by 21 percent to HK$775 million and EBITDA grew by
57 percent to HK$176 million. Net loss improved by 68 per cent to
trial to start this year with commercial rollout towards the end
- Growth in telephony
services dramatic in all areas.
fixed lines grew by 90 per cent to over 110,000; and IDD lines increased
by 35 per cent to over 610,000.
- Fixed lines
revenue grew by 70 per cent to HK$133 million.
- Total revenue
was HK$323 million and contribution from fixed lines rose by 18
points to 41per cent.
- A second gateway
switch commissioned in February 2000 and the third local switch
- Rapid increase
in traffic demand necessitated fourth and fifth local switches to
be commissioned in near future.
- External facilities
connecting directly with Mainland and major international routes
- Became first
operator to offer International Private Leased Circuits after ending
the last chapter of telecoms monopoly in Hong Kong in January 2000.
- New broadband
and IP products launched to provide services to ISPs, ICPs and ASPs.
Throughput grew by 9.8 per cent compared to same period last year.
completion, CT9 will provide 4 contiguous berths, a net increase of
2 berths to Modern Terminals. Capacity will increase from the present
3.4 million TEUs to 4.5 million TEUs.
of CT9 and the strategic engagement in Western Shenzhen ports are both
fortuitously timed in view of the impending entry of China into WTO.