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, BA, DFM, CA (Aus)<br />

<br />

, BSc<br />

<br />

, MSc, FHKIE<br />

<br />

<br />

, BSc<br />

, MA, LLL<br />

, BSc, MBA<br />

, BCom, MA<br />

<br />

<br />

, MSc, BSc<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

, BSE, MA, MA, EdM, Solicitor, FCIS, FCS(PE)<br />

<br />

<br />

<br />

<br />

<br />

, Member-CPPCC, GBS, ISO, JP<br />

, PhD, DBE, JP


2<br />

4<br />

6<br />

8<br />

10<br />

24<br />

26<br />

28<br />

30<br />

36<br />

37<br />

59<br />

69<br />

71<br />

72<br />

73<br />

75<br />

76<br />

77<br />

78<br />

138<br />

2 <br />

<br />

2 <br />

<br />

2 <br />

3 <br />

4 <br />

5 <br />

6 <br />

37 <br />

<br />

8 <br />

38 <br />

69 <br />

<br />

70 <br />

70 <br />

71 <br />

<br />

<br />

<br />

140 72


215<br />

<br />

<br />

3 <br />

HGC<br />

<br />

<br />

<br />

<br />

<br />

3 GSM3G<br />

<br />

140 3G 3G 3G<br />

<br />

<br />

3 GSM3G<br />

<br />

<br />

<br />

<br />

3G 3G <br />

• <br />

• <br />

2


IP<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

• 3G<br />

<br />

<br />

• AMPS<br />

<br />

• <br />

<br />

• GSM<br />

• HGC<br />

<br />

• <br />

<br />

• NTT DoCoMo<br />

<br />

• GSM<br />

<br />

• BlackBerry<br />

<br />

<br />

• 3G <br />

• 3G GSM 3 <br />

• Inter-Autonomous<br />

SystemEthernet<br />

<br />

• 100Mbps <br />

<br />

• 3.6Mbps <br />

HSDPA<br />

• 3G <br />

<br />

• 3 3G <br />

• NTT DoCoMo<br />

i-mode TM <br />

<br />

• <br />

iPhone TM 3G<br />

• <br />

<br />

<br />

• Hong Kong Tele<strong>com</strong>munications (HKT) Limited<br />

50%Genius Brand<br />

Limited<br />

• <br />

<br />

• <br />

<br />

3


AV Awards<br />

<br />

AV Magazine<br />

<br />

<br />

<br />

The Best of The Best Awards<br />

<br />

Hi-Tech Weekly<br />

U! Choice <br />

<br />

<br />

<br />

<br />

<br />

Yahoo! <br />

<br />

<br />

Yahoo!<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

I.T. <br />

<br />

<br />

<br />

The Best of The Best<br />

Awards<br />

Hi-Tech Weekly<br />

U! Choice <br />

<br />

<br />

<br />

<br />

<br />

<br />

4


e- <br />

<br />

e-zone<br />

Hi-Tech<br />

<br />

Hi-Tech Weekly<br />

Hi-Tech<br />

<br />

Hi-Tech Weekly<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

Hi-Tech<br />

<br />

Hi-Tech Weekly<br />

<br />

<br />

Capacity<br />

<br />

<br />

<br />

<br />

<br />

Euromoney<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

Take me HOME<br />

<br />

5


0<br />

2,000<br />

4,000<br />

6,000<br />

8,000<br />

10,000<br />

0<br />

200 400 600 800 1,000<br />

2007<br />

7,249<br />

2007 546<br />

2008<br />

8,124<br />

2008<br />

508<br />

2009<br />

8,449<br />

2009<br />

787<br />

<br />

(EBITDA-CAPEX)<br />

0<br />

100 200 300 400 500<br />

0<br />

300<br />

600<br />

900<br />

1,200<br />

1,500<br />

2007 180<br />

2007<br />

950<br />

2008<br />

230<br />

2008<br />

790<br />

2009<br />

468<br />

2009<br />

1,040<br />

<br />

<br />

6


2009<br />

2008<br />

16%<br />

20%<br />

20,401<br />

38%<br />

15%<br />

23,725<br />

20,401<br />

26%<br />

23%<br />

45%<br />

17%<br />

<br />

<br />

<br />

<br />

<br />

2009<br />

2008<br />

7%<br />

20%<br />

26%<br />

47%<br />

22%<br />

9%<br />

43%<br />

26%<br />

<br />

<br />

<br />

<br />

7


4% 84.49 <br />

81.244.68 <br />

2.30 103%<br />

9.724.78<br />

<br />

<br />

4%<br />

76.62 <br />

76.16 <br />

7% 12.8813.90<br />

<br />

17% 1.84 <br />

2.23 <br />

16% 6,100 <br />

7,300 <br />

<br />

6.16 <br />

2.97 <br />

<br />

<br />

75% <br />

<br />

<br />

<br />

<br />

<br />

<br />

4.68 2.30 <br />

103%<br />

<br />

<br />

<br />

<br />

10% <br />

3 <br />

3G <br />

<br />

3 <br />

iPhone<br />

<br />

8


IP<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

9


3 <br />

3G <br />

<br />

<br />

170% <br />

<br />

10%<br />

3 <br />

<br />

iPhone<br />

<br />

iPhone<br />

3 <br />

<br />

50%<br />

3 <br />

iPhone<br />

<br />

<br />

• 3 Pro Shop<br />

<br />

• iPhone TM 3G <br />

<br />

10


300<br />

<br />

iPhone<br />

<br />

iPhone TM 3GS<br />

<br />

3 <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

Wi-Fi<br />

<br />

iPhone<br />

3Smart Club<br />

• 3 <br />

• iPhone TM 3GS<br />

11


• Planet 3<br />

15<br />

<br />

<br />

• <br />

KKBOX<br />

<br />

<br />

<br />

HSDPA<br />

<br />

<br />

3reedom USB<br />

USB<br />

<br />

USB<br />

<br />

<br />

<br />

<br />

<br />

<br />

EasyPlus<br />

HSDPA<br />

EasyPlus<br />

<br />

<br />

<br />

<br />

• 3 iPhone TM 3GS<br />

12


• 3reedom Yahoo! 3reedom USB<br />

50% <br />

<br />

<br />

KKBOX<br />

KKBOX<br />

iPhone Android<br />

KKBOX<br />

<br />

<br />

<br />

3G Planet3<br />

<br />

<br />

<br />

3 <br />

<br />

<br />

<br />

<br />

<br />

<br />

3<br />

<br />

<br />

<br />

3 <br />

INQSocialSocial<br />

UnlimitedBuddy Unlimited<br />

<br />

FacebookYouTubeSkypeWindows Live<br />

MessengerYahoo! Search 3g mail<br />

<br />

• INQ MobileINQ Mini 3G<br />

13


3Shop<br />

3 <br />

<br />

iPhone 3Smart Club<br />

<br />

iPhone <br />

• 3 <br />

Golf<br />

• 3 Visa <br />

3Everyday COMPASS VISA<br />

<br />

Visa<br />

3Everyday COMPASS VISA <br />

<br />

• <br />

14


• <br />

<br />

Visa PayWave<br />

Wi-Fi<br />

3G <br />

<br />

<br />

<br />

<br />

<br />

3G <br />

3G<br />

HSPA+<br />

42Mbps<br />

<br />

Hong Kong Tele<strong>com</strong>munications (HKT)<br />

Limited 50% Genius<br />

Brand Limited 4G <br />

Genius Brand Limited 30MHz <br />

LTE<br />

<br />

15


IP<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

• <br />

<br />

• Conexus<br />

16


100 gigabits<br />

<br />

<br />

HutchConnect<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

Conexus<br />

<br />

Conexus <br />

Conexus<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

• <br />

17


3,000<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

• <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

Talk Central<br />

<br />

<br />

<br />

Microsoft<br />

Exchange<br />

<br />

18


• <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

10Mbps 100Mbps <br />

<br />

(Terabit)<br />

<br />

19


3reedom<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

• <br />

<br />

• <br />

20


• <br />

5,000<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

100Mbps <br />

<br />

<br />

<br />

<br />

<br />

50Mbps 100Mbps<br />

<br />

<br />

<br />

<br />

Wi-Fi<br />

<br />

21


• 100Mbps <br />

<br />

• 3.0 Shop <br />

<br />

Wi-Fi Wi-Fi<br />

Wi-Fi<br />

Wi-Fi<br />

<br />

<br />

3Shop <br />

<br />

3.0 <br />

<br />

<br />

<br />

GAMEON<br />

KKBOX<br />

<br />

<br />

• Wi-Fi<br />

22


• <br />

23


84.49 <br />

81.24 4%<br />

<br />

7.87 <br />

5.0855%<br />

<br />

<br />

<br />

<br />

<br />

8.28 7.58 <br />

5,200 2.00<br />

<br />

<br />

<br />

7% 12.88<br />

49.74 <br />

<br />

1.84 2.23 17<br />

<br />

<br />

1,600 1,100 <br />

6,100 <br />

7,300 <br />

<br />

4.68<br />

2.30 103%<br />

<br />

<br />

<br />

<br />

<br />

53.95 3% 55.78 <br />

3G <br />

140 12%<br />

300 <br />

190 60%<br />

<br />

<br />

iPhone<br />

<br />

10.02 14% <br />

11.38 <br />

<br />

4.13<br />

<br />

24


IDD<br />

IDD<br />

IDD<br />

<br />

<br />

<br />

30.35 32.21 6%<br />

<br />

<br />

<br />

9.954%10.31<br />

<br />

<br />

<br />

6.23 <br />

5.23<br />

<br />

<br />

<br />

<br />

3G4G <br />

<br />

<br />

<br />

<br />

<br />

25


<br />

<br />

<br />

AA-/Aa3<br />

<br />

<br />

/ A1/<br />

P1AA-/Aa3<br />

/ <br />

<br />

<br />

<br />

<br />

2.68<br />

2.7278%15%<br />

<br />

<br />

43.58 52.20 <br />

<br />

44%<br />

26


21.53 <br />

16.94 12.02 <br />

9.04 <br />

<br />

<br />

<br />

<br />

50,000 50,000 1 <br />

1 <br />

100 <br />

0.25 25 <br />

Hutchison Tele<strong>com</strong>munications International (Cayman)<br />

Holdings LimitedHTI Cayman 32 <br />

0.25 1 <br />

1 <br />

50,000 1 <br />

<br />

HTI Cayman<br />

<br />

HTI Cayman<br />

4,814,346,176 <br />

HTI Cayman124.18 <br />

<br />

<br />

<br />

12.04 112.14 <br />

<br />

<br />

<br />

<br />

<br />

10.35 11.08 <br />

<br />

<br />

<br />

6.37 5.12 <br />

1,600<br />

3,900 3G <br />

<br />

27


1,732<br />

6.44 <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

• <br />

<br />

• <br />

28


2009 <br />

<br />

<br />

<br />

<br />

<br />

<br />

3 <br />

<br />

EcoMate<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

3Shop<br />

• <br />

2009<br />

<br />

• <br />

<br />

• <br />

29


Hutchison<br />

Tele<strong>com</strong>munications (Australia)<br />

LimitedHTAL <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

Ommaney Holdings Limited<br />

OHL<br />

OHL<br />

XV<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

HTI<br />

(1993) Holdings Limited <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

30


HTAL<br />

TOMTOM<br />

<br />

OHL <br />

Hutchison Tele<strong>com</strong>munications<br />

Investment Holdings Limited<br />

HTIHL<br />

XV <br />

<br />

<br />

<br />

<br />

<br />

<br />

TOM<br />

<br />

<br />

HTAL<br />

The<br />

Li Ka-Shing Unity Trust <br />

Li Ka-Shing Unity Trustee<br />

Company Limited The Li<br />

Ka-Shing Unity Discretionary<br />

Trust Li Ka-Shing Unity<br />

Trustee Corporation Limited<br />

<br />

Li Ka-Shing Unity Trustcorp<br />

LimitedOHL <br />

HTIHL <br />

<br />

XV<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

HTAL<br />

<br />

()<br />

<br />

31


32<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

TOM<br />

Worldsec<br />

Limited<br />

<br />

<br />

(A)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(GBS)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

Advanced Management Program<br />

(AMP)Queen<br />

Elizabeth House<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

Mars,<br />

Incorporated


Suntec<br />

Real Estate Investment Trust<br />

ARA Trust Management<br />

(Suntec) Limited <br />

ARA Asset Management<br />

(Singapore) Limited<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

33


University of Warwick <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

OHL<br />

<br />

<br />

Newport University<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

34


35


13.51(B) <br />

<br />

<br />

<br />

<br />

2<br />

<br />

<br />

<br />

Partner Communications Company Ltd. 1 <br />

Partner Communications Company Ltd. 1 <br />

864<br />

Partner Communications Company Ltd. 1 <br />

Partner Communications Company Ltd. 1 <br />

(A)<br />

<br />

<br />

<br />

<br />

<br />

Mars, Incorporated<br />

<br />

<br />

<br />

<br />

1. <br />

2. <br />

36


138 139 <br />

<br />

71 <br />

<br />

1.12 <br />

6.16 <br />

2.97 <br />

<br />

23<br />

<br />

30,000 <br />

<br />

13<br />

<br />

22<br />

37


83(3)<br />

<br />

84(1)<br />

3.13 <br />

<br />

30 33 <br />

<br />

<br />

<br />

<br />

<br />

<br />

38


75.9% 25 <br />

193.76 25 <br />

25<br />

<br />

<br />

25<br />

<br />

25<br />

25<br />

7.155<br />

<br />

<br />

<br />

(i)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

39


(ii)<br />

<br />

IDD<br />

<br />

<br />

<br />

<br />

<br />

<br />

(iii) <br />

<br />

<br />

<br />

<br />

<br />

<br />

(iv) <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

40


(v)<br />

NTT DoCoMo, Inc.DoCoMoDoCoMo<br />

<br />

DoCoMo<br />

DoCoMo<br />

<br />

<br />

<br />

<br />

DoCoMo<br />

DoCoMoDoCoMo<br />

<br />

(vi) <br />

A. S. Watson Group (HK) Limited Hutchison 3G Services (HK) Limited<br />

H3GSHK H3GSHK<br />

H3GSHK3G <br />

H3GSHK<br />

<br />

<br />

<br />

<br />

(vii) <br />

<br />

<br />

<br />

<br />

<br />

<br />

41


(viii) <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(ix) <br />

3G <br />

3G <br />

3G <br />

<br />

<br />

<br />

<br />

<br />

42


(x)<br />

<br />

<br />

IDDIPLCIDDIPLC<br />

<br />

<br />

<br />

(xi) <br />

<br />

<br />

<br />

<br />

<br />

(xii) <br />

Videofone Company LimitedVideofone<br />

Videofone<br />

Videofone<br />

Videofone<br />

<br />

Videofone<br />

<br />

(xiii) <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

43


(xiv) <br />

<br />

<br />

(a)<br />

(b)<br />

(c)<br />

(d)<br />

(e)<br />

bigboXX.<strong>com</strong> Limited<br />

<br />

<br />

Hutchison-Priceline (Travel) Limited Hutchison-Priceline (Travel)<br />

Limited<br />

Vanda IT Solutions & Systems Management Limited <br />

Vanda Vanda <br />

<br />

<br />

<br />

<br />

bigboXX.<strong>com</strong> LimitedHutchison-Priceline (Travel) LimitedVanda<br />

(a) (d)<br />

(e)<br />

VandabigboXX.<strong>com</strong> LimitedHutchison-Priceline (Travel) Limited<br />

<br />

(xv) <br />

<br />

50% <br />

50% <br />

50% <br />

50%<br />

<br />

<br />

(a)<br />

(i)(ii)(iii)(iv)(v)<br />

IDD(vi)<br />

(vii)<br />

44


(viii)(ix)<br />

(x)(xi)<br />

<br />

(b)<br />

(i)(ii) IDD <br />

(iii)<br />

(iv) (v)<br />

50% <br />

50% <br />

<br />

(xvi) <br />

<br />

50% <br />

50% <br />

50%<br />

<br />

<br />

(a)<br />

(b)<br />

(i)(ii)(iii)<br />

<br />

(i)<br />

(ii)IDD(iii)<br />

<br />

(iv) (v)<br />

50%<br />

50% <br />

<br />

45


(xvii) <br />

<br />

50% <br />

50% <br />

50% <br />

<br />

<br />

(a)<br />

(b)<br />

(i) IDD(ii)(iii)(iv)<br />

(v)<br />

<br />

(i)IDD(ii)<br />

(iii)<br />

<br />

50% <br />

50% <br />

<br />

(xviii) H3G Procurement Services S.à r.l.<br />

H3G Procurement Services S.à r.l.H3G Procurement<br />

3G H3G Procurement<br />

H3G Procurement<br />

H3G Procurement<br />

H3G Procurement<br />

<br />

H3G Procurement<br />

<br />

46


(xix) <br />

<br />

7.1 55 <br />

<br />

<br />

<br />

<br />

<br />

14A <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(A) (i) 19<br />

(B) (xv)(ii)<br />

(iv)(v)<br />

(viii) (x)<br />

(xiii) (xiv)<br />

<br />

(a) <br />

(b) <br />

(a) 115<br />

(b) 108<br />

(C)<br />

(xvi)(iii)<br />

(v)<br />

(xi)<br />

(a) <br />

(b) <br />

(a) 7<br />

(b) 35<br />

47


(D) (xvii)(iv)<br />

(xii)(xiii)<br />

(xiv)<br />

<br />

(a) <br />

(b) <br />

(a) 15<br />

(b) 58<br />

(E)<br />

(v) DoCoMo<br />

(a) <br />

(b) DoCoMo<br />

(a) <br />

(b) 19<br />

(F) (vi) 30<br />

(G) (vii) 19<br />

(H) (ix) 14<br />

(I)<br />

(xviii) H3G Procurement<br />

(a) <br />

(b) <br />

(a) 8<br />

(b) 12<br />

(J) (xix) <br />

(i)(ii)<br />

<br />

(iii) <br />

(i)(ii)<br />

(iii)(iv)<br />

<br />

33(b)<br />

(c)<br />

<br />

<br />

14A <br />

48


XV XV 7 8 <br />

<br />

352 <br />

<br />

(I)<br />

<br />

<br />

<br />

<br />

<br />

<br />

1,202,380 – 0.0250%<br />

1<br />

9,100,000 – 0.1890%<br />

2,666,667 – 0.0554%<br />

250,000 – 0.0052%<br />

– 255,000 0.0053%<br />

2<br />

<br />

1. <br />

2. 17,000 15 <br />

49


(II)<br />

<br />

<br />

<br />

(i)<br />

(ii)<br />

4,810,875 0.113%<br />

5,100,000 Hutchison Tele<strong>com</strong>munications (Australia) LimitedHTAL HTAL<br />

0.038% 4,100,000 1,000,000 <br />

(iii) 5,000,000 0.056%<br />

(iv)<br />

(v)<br />

1,202,380 0.025%<br />

(a) Hutchison Whampoa International (03/13) Limited1,216,000 6.50% <br />

(b) Hutchison Whampoa International (09) Limited 4,000,000 <br />

7.625% (c) Hutchison Whampoa International (09/19) Limited<br />

4,000,000 5.75% <br />

<br />

<br />

9,100,000<br />

0.189%<br />

(i) 22,000<br />

0.0005% (ii) 2,666,667 <br />

0.055%<br />

(i)150,000 <br />

0.004%(ii)250,000 <br />

0.005%<br />

(i)50,000 <br />

0.001%(ii)1,000,000 HTALHTAL0.007%(iii)17,000<br />

15 0.005%<br />

50,000 <br />

0.001%<br />

20,000 <br />

0.0005%<br />

50


XVXV7 8 <br />

<br />

352 <br />

<br />

<br />

XV 2 3 <br />

336 <br />

(I)<br />

<br />

<br />

<br />

<br />

<br />

Hutchison Tele<strong>com</strong>munications (i) 2,619,929,104 <br />

Investment Holdings Limited<br />

1<br />

HTIHL (ii) 394,063,149 62.60%<br />

1<br />

Hutchison Tele<strong>com</strong>munications 3,013,992,253 62.60%<br />

Group Holdings Limited HTGHL 1<br />

Ommaney Holdings Limited 3,013,992,253 62.60%<br />

OHL 1<br />

3,013,992,253 62.60%<br />

1<br />

3,013,992,253 62.60%<br />

1<br />

3,066,084,840 63.68%<br />

2<br />

Li Ka-Shing Unity Trustee 3,066,084,840 63.68%<br />

Company LimitedTUT1 3<br />

Li Ka-Shing Unity Trustee 3,066,084,840 63.68%<br />

Corporation LimitedTDT1 4<br />

Li Ka-Shing Unity 3,066,084,840 63.68%<br />

Trustcorp LimitedTDT2 4<br />

51


(i) 3,066,238,120 <br />

<br />

5<br />

(ii) 266,621,499 69.22%<br />

6<br />

Mayspin Managemert 266,621,499 5.53%<br />

Limited Mayspin 7<br />

Yuda Limited Yuda 266,375,953 5.53%<br />

8<br />

(II)<br />

<br />

<br />

<br />

<br />

<br />

T. Rowe Price Associates, Inc. 386,090,000 8.02%<br />

<br />

<br />

1. HTIHL HTGHLHTGHL OHLOHL<br />

OHL HTGHLHTIHL2,619,929,104HTIHL394,063,149<br />

<br />

2. OHLHTGHL HTIHL<br />

<br />

3. TUT1 The Li Ka-Shing Unity TrustUT1 TUT1 UT1 <br />

TUT1 UT1 TUT1 UT1 <br />

OHLHTGHLHTIHL<br />

<br />

4. TDT1DT1 TDT2DT2 UT1 UT1<br />

TDT1 DT1 TDT2 DT2OHLHTGHL HTIHL<br />

<br />

5. DT1DT2DT3 DT4 DT1DT2DT3 DT4<br />

TUT1TDT1TDT2Li Ka-Shing Castle Trustee Company LimitedTUT3The Li Ka-Shing Castle TrustUT3Li Ka-Shing Castle<br />

Trustee Corporation Limited DT3 Li Ka-Shing Castle Trustcorp Limited DT4 <br />

OHLHTGHLHTIHL<br />

TUT3 UT3 <br />

52


6. <br />

7. Mayspin 6 <br />

8. YudaMayspinMayspin6<br />

<br />

XV2 3 <br />

336 <br />

<br />

<br />

<br />

<br />

8.10(2) <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

PLDT MVNO<br />

<br />

PLDT Global CorporationPLDT Italy S.r.l.<br />

<br />

53


0.25 <br />

(a)<br />

(b)<br />

(c)<br />

(d)<br />

(e)<br />

(f)<br />

(g)<br />

(h)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

54


(a)<br />

(b)<br />

(c)<br />

(d)<br />

<br />

30%<br />

<br />

<br />

10% 4,814,346,208 <br />

481,434,620 <br />

481,434,620 10%<br />

(a)(d)<br />

<br />

<br />

10%<br />

<br />

(a)(c)<br />

<br />

(c)<br />

<br />

1%<br />

<br />

<br />

17.03(9) (1)<br />

<br />

<br />

<br />

<br />

<br />

<br />

55


(i)<br />

(ii)<br />

(iii)<br />

1.00 <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(1) (2) (3) <br />

<br />

4,750,000 4,750,000 1.00 0.96 <br />

<br />

<br />

<br />

<br />

<br />

4,750,000 4,750,000<br />

<br />

1. <br />

<br />

2. <br />

3. <br />

56


4,750,000 0.10%<br />

- 0.27 <br />

49%5.9%1.65%<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

30%<br />

<br />

<br />

20%<br />

43%<br />

<br />

(a)<br />

(b)<br />

46,762 <br />

36,726,857 <br />

5%<br />

57


30.3% <br />

<br />

<br />

<br />

<br />

<br />

<br />

58


30 33 <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

59


94%<br />

<br />

<br />

4/4<br />

4/4<br />

4/4<br />

3/4<br />

3/4<br />

4/4<br />

4/4<br />

4/4<br />

4/4<br />

60


(www.hthkh.<strong>com</strong>) <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

61


69 70 <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

62


100%<br />

<br />

<br />

3/3<br />

3/3<br />

3/3<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

• <br />

63


• <br />

<br />

<br />

• <br />

<br />

• <br />

<br />

• <br />

8<br />

1,900 <br />

800 42%<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

64


65


Watson Wyatt <br />

<br />

<br />

<br />

<br />

66


(1) (3) (6) 0.07 – – – – 0.07<br />

(1) (3) 0.06 – – – – 0.06<br />

(3) 0.06 2.74 5.64 0.20 – 8.64<br />

(1) 0.06 – – – – 0.06<br />

(1) (3) 0.06 – – – – 0.06<br />

(1) (3) 0.06 – – – – 0.06<br />

(2) (4) (5) (6) 0.12 – – – – 0.12<br />

(2) (4) (5) (6) 0.12 – – – – 0.12<br />

(2) (4) (5) 0.10 – – – – 0.10<br />

(7) – – – – – –<br />

(7) – – – – – –<br />

(7) – – – – – –<br />

(7) – – – – – –<br />

0.71 2.74 5.64 0.20 – 9.29<br />

<br />

(1) <br />

(2) <br />

(3) <br />

(4) <br />

(5) <br />

(6) <br />

(7) <br />

<br />

<br />

<br />

<br />

67


ir@hthkh.<strong>com</strong> <br />

<br />

28 29 <br />

<br />

<br />

<br />

<br />

68


71 139 <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

69


70


5 8,449 8,124<br />

(756) (698)<br />

7 (644) (630)<br />

(1,288) (1,390)<br />

8 (4,974) (4,898)<br />

787 508<br />

9 4 17<br />

9 (184) (223)<br />

18 (16) (11)<br />

591 291<br />

10 (61) (73)<br />

530 218<br />

<br />

468 230<br />

62 (12)<br />

530 218<br />

:<br />

11 9.72 4.78<br />

11 9.72 4.78<br />

12<br />

71


530 218<br />

<br />

43 (97)<br />

573 121<br />

<br />

510 134<br />

63 (13)<br />

573 121<br />

<br />

72


13 9,436 9,557 9,695<br />

14 4,503 4,503 3,813<br />

15 336 385 435<br />

16 1,328 1,377 1,876<br />

17 368 368 368<br />

18 270 88 –<br />

16,241 16,278 16,187<br />

<br />

19 268 272 275<br />

20 1,085 1,137 1,493<br />

21 160 181 164<br />

1,513 1,590 1,932<br />

17,754 17,868 18,119<br />

<br />

<br />

22 1,204 – –<br />

23 8,689 (2,949) (3,083)<br />

9,893 (2,949) (3,083)<br />

(549) (612) (719)<br />

9,344 (3,561) (3,802)<br />

73


17 134 80 16<br />

24 4,358 – –<br />

25 595 641 561<br />

5,087 721 577<br />

<br />

26 3,317 3,062 2,905<br />

33(c) – 12,418 13,743<br />

24 – 5,220 4,688<br />

6 8 8<br />

3,323 20,708 21,344<br />

8,410 21,429 21,921<br />

17,754 17,868 18,119<br />

(1,810) (19,118) (19,412)<br />

14,431 (2,840) (3,225)<br />

<br />

<br />

<br />

<br />

<br />

74


31 3,871 3,871<br />

3,871 3,871<br />

<br />

33(c) 8,896 8,672<br />

2 –<br />

1 –<br />

8,899 8,672<br />

12,770 12,543<br />

<br />

<br />

22 1,204 –<br />

23 11,487 –<br />

12,691 –<br />

<br />

<br />

2 –<br />

33(c) 77 12,543<br />

79 12,543<br />

12,770 12,543<br />

8,820 (3,871)<br />

12,691 –<br />

<br />

<br />

<br />

<br />

<br />

75


– – (2,329) 1 (83) – 17 (2,394) (443) (2,837)<br />

( 2(b)) – – (555) – – – – (555) (169) (724)<br />

– – (2,884) 1 (83) – 17 (2,949) (612) (3,561)<br />

– – 468 – – – – 468 62 530<br />

22(b) 1,204 11,214 – – – – – 12,418 – 12,418<br />

– (33) – – – – – (33) – (33)<br />

( 12) – – (54) – – – – (54) – (54)<br />

– – – – 42 – – 42 1 43<br />

<br />

– – – – – 1 – 1 – 1<br />

1,204 11,181 (2,470) 1 (41) 1 17 9,893 (549) 9,344<br />

– – (2,759) 1 13 – 17 (2,728) (581) (3,309)<br />

( 2(b)) – – (355) – – – – (355) (138) (493)<br />

– – (3,114) 1 13 – 17 (3,083) (719) (3,802)<br />

– – 230 – – – – 230 (12) 218<br />

– – – – – – – – 120 120<br />

– – – – (96) – – (96) (1) (97)<br />

<br />

– – (2,884) 1 (83) – 17 (2,949) (612) (3,561)<br />

<br />

76


27(a) 2,263 1,850<br />

(101) (147)<br />

(9) (9)<br />

2,153 1,694<br />

<br />

(1,035) (1,108)<br />

(51) (81)<br />

3 9<br />

– (570)<br />

(194) (99)<br />

– 452<br />

– 551<br />

20(c) 75 (75)<br />

– 17<br />

(1,202) (904)<br />

<br />

27(b) 9,462 5,650<br />

27(b) (10,330) (5,118)<br />

– (1,325)<br />

(33) –<br />

12 (54) –<br />

(955) (793)<br />

(4) (3)<br />

272 275<br />

268 272<br />

<br />

77


1 <br />

<br />

Scotia Centre, 4th Floor, P.O. Box 2804, George Town, Grand Cayman KY1-1112, Cayman Islands<br />

<br />

<br />

15 <br />

<br />

2 <br />

<br />

(a)<br />

<br />

<br />

<br />

4 <br />

<br />

18.10 <br />

50<br />

<br />

<br />

78


2 <br />

(b)<br />

<br />

<br />

<br />

<br />

1 <br />

23 <br />

2 <br />

7 <br />

1 <br />

27 <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

79


2 <br />

(b)<br />

<br />

(i)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

9,695 – 9,695<br />

3,813 – 3,813<br />

935 (500) 435<br />

1,876 – 1,876<br />

368 – 368<br />

16,687 (500) 16,187<br />

<br />

275 – 275<br />

1,493 – 1,493<br />

164 – 164<br />

1,932 – 1,932<br />

18,619 (500) 18,119<br />

<br />

<br />

– – –<br />

(2,728) (355) (3,083)<br />

(2,728) (355) (3,083)<br />

(581) (138) (719)<br />

(3,309) (493) (3,802)<br />

80


2 <br />

(b)<br />

<br />

(i)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

23 (7) 16<br />

561 – 561<br />

584 (7) 577<br />

<br />

2,905 – 2,905<br />

13,743 – 13,743<br />

4,688 – 4,688<br />

8 – 8<br />

21,344 – 21,344<br />

21,928 (7) 21,921<br />

18,619 (500) 18,119<br />

(19,412) – (19,412)<br />

(2,725) (500) (3,225)<br />

81


2 <br />

(b)<br />

<br />

(ii)<br />

<br />

<br />

<br />

<br />

<br />

8,124 – 8,124<br />

(698) – (698)<br />

(630) – (630)<br />

(1,987) 597 (1,390)<br />

(4,043) (855) (4,898)<br />

766 (258) 508<br />

17 – 17<br />

(223) – (223)<br />

(11) – (11)<br />

549 (258) 291<br />

(75) 2 (73)<br />

474 (256) 218<br />

<br />

430 (200) 230<br />

44 (56) (12)<br />

474 (256) 218<br />

<br />

:<br />

8.93 (4.15) 4.78<br />

8.93 (4.15) 4.78<br />

82


2 <br />

(b)<br />

<br />

(iii) <br />

<br />

<br />

<br />

<br />

<br />

<br />

9,557 – 9,557<br />

4,478 25 4,503<br />

1,143 (758) 385<br />

1,377 – 1,377<br />

368 – 368<br />

88 – 88<br />

17,011 (733) 16,278<br />

<br />

272 – 272<br />

1,137 – 1,137<br />

181 – 181<br />

1,590 – 1,590<br />

18,601 (733) 17,868<br />

<br />

<br />

<br />

– – –<br />

(2,394) (555) (2,949)<br />

(2,394) (555) (2,949)<br />

(443) (169) (612)<br />

(2,837) (724) (3,561)<br />

83


2 <br />

(b)<br />

<br />

(iii) <br />

<br />

<br />

<br />

<br />

<br />

<br />

88 (8) 80<br />

641 – 641<br />

729 (8) 721<br />

<br />

3,062 – 3,062<br />

12,418 – 12,418<br />

5,220 – 5,220<br />

9 (1) 8<br />

20,709 (1) 20,708<br />

21,438 (9) 21,429<br />

18,601 (733) 17,868<br />

(19,119) 1 (19,118)<br />

(2,108) (732) (2,840)<br />

84


2 <br />

(b)<br />

<br />

(iv)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

–<br />

–<br />

–<br />

725<br />

(795)<br />

(70)<br />

–<br />

–<br />

–<br />

(70)<br />

3<br />

(67)<br />

<br />

(52)<br />

(15)<br />

(67)<br />

<br />

(1.08)<br />

(1.08)<br />

85


2 <br />

(b)<br />

<br />

(v)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

–<br />

25<br />

(828)<br />

–<br />

–<br />

–<br />

(803)<br />

<br />

–<br />

–<br />

–<br />

–<br />

(803)<br />

<br />

<br />

–<br />

(607)<br />

(607)<br />

(184)<br />

(791)<br />

86


2 <br />

(b)<br />

<br />

(v)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(9)<br />

–<br />

(9)<br />

<br />

–<br />

–<br />

–<br />

(3)<br />

(3)<br />

(12)<br />

(803)<br />

3<br />

(800)<br />

87


2 <br />

(c)<br />

<br />

<br />

<br />

(1)<br />

1 (1)<br />

24 (2)<br />

27 (1)<br />

38 (1)<br />

2 (1)<br />

3 (1)<br />

5 (1)<br />

9 (3)<br />

17 (1)<br />

19 (2)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(1)<br />

<br />

(2)<br />

<br />

(3)<br />

<br />

<br />

(d)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

2(k)<br />

<br />

88


2 <br />

(d)<br />

<br />

<br />

<br />

2(m)<br />

<br />

(e)<br />

<br />

<br />

<br />

<br />

(f)<br />

<br />

<br />

<br />

<br />

<br />

(g)<br />

<br />

<br />

<br />

89


2 <br />

(h)<br />

<br />

(i)<br />

<br />

<br />

<br />

(ii)<br />

<br />

<br />

<br />

(iii) <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

90


2 <br />

(i)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

15%<br />

<br />

<br />

<br />

<br />

<br />

2(m)<br />

<br />

(j)<br />

<br />

<br />

<br />

<br />

<br />

91


2 <br />

(k)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(l)<br />

<br />

(i)<br />

<br />

<br />

<br />

<br />

<br />

(ii)<br />

<br />

<br />

<br />

92


2 <br />

(m) <br />

<br />

<br />

<br />

<br />

<br />

(n)<br />

<br />

<br />

<br />

(i)<br />

<br />

<br />

<br />

(ii)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

93


2 <br />

(n)<br />

<br />

(iii) <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(o)<br />

<br />

<br />

<br />

(p)<br />

<br />

<br />

<br />

(q)<br />

<br />

2(n)(iii)<br />

(r)<br />

<br />

<br />

94


2 <br />

(s)<br />

<br />

<br />

<br />

2(i)<br />

<br />

(t)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(u)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

95


2 <br />

(v)<br />

<br />

<br />

(w) <br />

<br />

<br />

<br />

<br />

<br />

(x)<br />

<br />

(i)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

96


2 <br />

(x)<br />

<br />

(ii)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(iii) <br />

<br />

<br />

(y)<br />

<br />

<br />

(i)<br />

(ii)<br />

<br />

<br />

(iii) <br />

3 <br />

(a)<br />

<br />

<br />

<br />

<br />

97


3 <br />

(a)<br />

<br />

(i)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

309 145<br />

36 35<br />

345 180<br />

10% <br />

<br />

<br />

<br />

<br />

<br />

26 12<br />

3 3<br />

29 15<br />

10% <br />

<br />

98


3 <br />

(a)<br />

<br />

(ii)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

24 (4,358) (5,220)<br />

235 272<br />

20(c) – 75<br />

264 –<br />

(3,859) (4,873)<br />

24 <br />

100 <br />

3,2004,100<br />

<br />

<br />

<br />

<br />

100 <br />

99


3 <br />

(a)<br />

<br />

(iii) <br />

<br />

<br />

AA-Aa3<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

19 268 272<br />

20 916 908<br />

20(c) – 75<br />

1,184 1,255<br />

100


3 <br />

(a)<br />

<br />

(iv)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

24 4,358 4,358 – 4,380 – – 4,380 –<br />

26 320 320 – 320 320 – – –<br />

<br />

26 2,916 637 2,279 637 637 – – –<br />

25 26 531 531 – 846 91 101 362 292<br />

8,125 5,846 2,279 6,183 1,048 101 4,742 292<br />

<br />

<br />

<br />

<br />

<br />

24 5,220 5,220 – 5,220 5,220 – – –<br />

26 385 385 – 385 385 – – –<br />

<br />

26 2,605 464 2,141 464 464 – – –<br />

33(c) 12,418 12,418 – 12,418 12,418 – – –<br />

25 26 546 546 – 927 81 91 332 423<br />

21,174 19,033 2,141 19,414 18,568 91 332 423<br />

101


3 <br />

(b)<br />

<br />

<br />

<br />

<br />

<br />

<br />

(c)<br />

<br />

<br />

<br />

4 <br />

<br />

<br />

(a)<br />

<br />

<br />

<br />

(i)<br />

<br />

<br />

86.07 88.37 <br />

89.26 <br />

102


4 <br />

(a)<br />

<br />

(ii)<br />

<br />

<br />

<br />

<br />

<br />

(iii) <br />

(i)<br />

(ii) (iii)<br />

<br />

<br />

<br />

<br />

(b)<br />

<br />

<br />

<br />

<br />

<br />

3.68 3.68 <br />

103


5 <br />

<br />

<br />

<br />

<br />

<br />

4,772 4,680<br />

2,875 2,729<br />

802 715<br />

8,449 8,124<br />

6 <br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

5,578 3,221 – (350) 8,449<br />

(4,440) (2,190) (93) 349 (6,374)<br />

(655) (633) – – (1,288)<br />

483 398 (93) (1) 787<br />

6,990 11,097 12,770 (13,103) 17,754<br />

(12,151) (5,409) (79) 9,229 (8,410)<br />

<br />

413 623 – (1) 1,035<br />

104


6 <br />

<br />

<br />

<br />

<br />

5,395 3,035 – (306) 8,124<br />

(4,393) (2,040) (99) 306 (6,226)<br />

(757) (633) – – (1,390)<br />

245 362 (99) – 508<br />

7,273 10,798 12,543 (12,746) 17,868<br />

(12,719) (5,042) (12,543) 8,875 (21,429)<br />

<br />

585 523 – – 1,108<br />

80.49 <br />

77.07 4.00 <br />

4.17 <br />

156.34 <br />

156.75 2.39 <br />

2.35 <br />

7 <br />

<br />

<br />

<br />

<br />

611 601<br />

2 6<br />

<br />

30(a) 20 12<br />

10 11<br />

1 –<br />

644 630<br />

105


7 <br />

(a)<br />

<br />

<br />

<br />

<br />

<br />

<br />

i 0.07 – – – 0.07<br />

i 0.06 – – – 0.06<br />

i 0.06 2.74 5.64 0.20 8.64<br />

0.06 – – – 0.06<br />

i 0.06 – – – 0.06<br />

i 0.06 – – – 0.06<br />

ii 0.12 – – – 0.12<br />

ii 0.12 – – – 0.12<br />

ii 0.10 – – – 0.10<br />

iii – – – – –<br />

iii – – – – –<br />

iii – – – – –<br />

iii – – – – –<br />

0.71 2.74 5.64 0.20 9.29<br />

<br />

(i)<br />

(ii)<br />

(iii)<br />

<br />

<br />

<br />

<br />

<br />

<br />

106


7 <br />

(b)<br />

<br />

<br />

<br />

<br />

<br />

<br />

1 –<br />

4 5<br />

<br />

<br />

<br />

<br />

<br />

11 11<br />

13 12<br />

1 1<br />

25 24<br />

<br />

<br />

<br />

<br />

<br />

3,000,001 – 3,500,000 3 3<br />

4,000,001 – 4,500,000 1 1<br />

10,000,001 – 10,500,000 1 1<br />

<br />

<br />

107


8 <br />

<br />

<br />

<br />

<br />

<br />

3,535 3,596<br />

327 329<br />

<br />

410 414<br />

585 451<br />

18 6<br />

11 14<br />

88 88<br />

4,974 4,898<br />

9 <br />

<br />

<br />

<br />

<br />

<br />

– 17<br />

4 –<br />

4 17<br />

<br />

(61) (135)<br />

(77) (76)<br />

(46) (12)<br />

(184) (223)<br />

(180) (206)<br />

<br />

<br />

<br />

108


10 <br />

<br />

<br />

<br />

<br />

– 54 54 – 64 64<br />

7 – 7 9 – 9<br />

7 54 61 9 64 73<br />

16.5%16.5%<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

591 291<br />

82 60<br />

(12) (14)<br />

12 1<br />

2 –<br />

(59) (52)<br />

(1) –<br />

(30) (27)<br />

67 85<br />

– 19<br />

– 1<br />

61 73<br />

109


11 <br />

4.68 2.30 Hutchison<br />

Tele<strong>com</strong>munications International (Cayman) Holdings LimitedHTI Cayman<br />

4,814,346,208 22 <br />

<br />

<br />

4,814,346,208 <br />

526,818 <br />

12 <br />

<br />

<br />

<br />

<br />

1.12 54 –<br />

6.16 297 –<br />

351 –<br />

13 <br />

<br />

<br />

<br />

<br />

<br />

<br />

78 16,750 191 2,481 19,500<br />

– 596 284 101 981<br />

(11) (56) (1) (12) (80)<br />

– 102 (119) 17 –<br />

67 17,392 355 2,587 20,401<br />

<br />

18 7,508 – 2,026 9,552<br />

2 998 – 210 1,210<br />

(4) (40) – (12) (56)<br />

16 8,466 – 2,224 10,706<br />

<br />

51 8,926 355 363 9,695<br />

110


13 <br />

<br />

<br />

<br />

<br />

<br />

67 17,392 355 2,587 20,401<br />

– 729 282 97 1,108<br />

– (333) (5) (20) (358)<br />

– 208 (237) 29 –<br />

67 17,996 395 2,693 21,151<br />

<br />

16 8,466 – 2,224 10,706<br />

2 1,017 – 212 1,231<br />

– (324) – (19) (343)<br />

18 9,159 – 2,417 11,594<br />

<br />

49 8,837 395 276 9,557<br />

<br />

<br />

<br />

<br />

<br />

67 17,996 395 2,693 21,151<br />

– 606 361 68 1,035<br />

– (2,248) – (18) (2,266)<br />

– 178 (225) 47 –<br />

67 16,532 531 2,790 19,920<br />

<br />

18 9,159 – 2,417 11,594<br />

2 994 – 139 1,135<br />

– (2,228) – (17) (2,245)<br />

20 7,925 – 2,539 10,484<br />

<br />

47 8,607 531 251 9,436<br />

111


13 <br />

<br />

<br />

<br />

<br />

<br />

– – 3,223<br />

– – (2,891)<br />

– – 332<br />

– – 126<br />

– – –<br />

14 <br />

<br />

<br />

<br />

4,503 3,813 3,813<br />

– 690 –<br />

4,503 4,503 3,813<br />

– – –<br />

NEC Corporation Pilot Gateway Limited<br />

Hutchison 3G HK Holdings LimitedH3GHL 5%<br />

H3GHL 70.9% 75.9% 6.90 <br />

112


14 <br />

<br />

<br />

<br />

<br />

<br />

<br />

2,155 2,155 1,465<br />

2,348 2,348 2,348<br />

4,503 4,503 3,813<br />

<br />

<br />

<br />

(i)<br />

(ii)<br />

EBITDA<br />

EBITDA <br />

EBITDA<br />

<br />

(iii) <br />

<br />

<br />

7.1% 7.4% 9.5%<br />

7.5% 7.5% 9.5%<br />

<br />

2(m)<br />

4(a)(iii)<br />

<br />

113


15 <br />

<br />

<br />

<br />

<br />

616 12 628<br />

(142) (1) (143)<br />

474 11 485<br />

<br />

474 11 485<br />

(49) (1) (50)<br />

425 10 435<br />

<br />

616 12 628<br />

(191) (2) (193)<br />

425 10 435<br />

<br />

425 10 435<br />

(49) (1) (50)<br />

376 9 385<br />

<br />

616 12 628<br />

(240) (3) (243)<br />

376 9 385<br />

<br />

376 9 385<br />

(48) (1) (49)<br />

328 8 336<br />

<br />

616 12 628<br />

(288) (4) (292)<br />

328 8 336<br />

114


16 <br />

<br />

<br />

(a) 1,286 1,332 1,371<br />

(b) 42 45 490<br />

30(a) – – 15<br />

1,328 1,377 1,876<br />

<br />

(a)<br />

<br />

(b)<br />

<br />

<br />

4.3%<br />

<br />

17 <br />

<br />

<br />

<br />

<br />

<br />

<br />

368 368 368<br />

(134) (80) (16)<br />

234 288 352<br />

115


17 <br />

<br />

<br />

<br />

<br />

(1,203) 1,571 368<br />

78 (94) (16)<br />

(1,125) 1,477 352<br />

(1,125) 1,477 352<br />

10 118 (182) (64)<br />

(1,007) 1,295 288<br />

(1,007) 1,295 288<br />

10 51 (105) (54)<br />

(956) 1,190 234<br />

<br />

<br />

<br />

<br />

<br />

655 646 650<br />

2 1 1<br />

657 647 651<br />

<br />

39.6039.07<br />

37.04 39.58 39.04 <br />

36.99200300500<br />

116


18 <br />

<br />

<br />

88 – –<br />

198 99 –<br />

(16) (11) –<br />

270 88 –<br />

2.647,500<br />

3%<br />

<br />

<br />

PLDT Italy S.r.l. 50%<br />

Genius Brand Limited 50%<br />

<br />

<br />

<br />

<br />

276 84 –<br />

9 14 –<br />

285 98 –<br />

<br />

(8) (97) –<br />

(278) (12) –<br />

(286) (109) –<br />

(1) (11) –<br />

18 3 –<br />

(34) (14) –<br />

(16) (11) –<br />

1 4 –<br />

117


18 <br />

<br />

<br />

19 <br />

<br />

<br />

40 42 87<br />

228 230 188<br />

268 272 275<br />

0.01% 0.57%0.68% 3.79%3.71% 5.10%<br />

<br />

<br />

20 <br />

<br />

<br />

996 1,017 854<br />

(185) (165) (175)<br />

(a) 811 852 679<br />

(b) 105 56 117<br />

(b) 169 154 146<br />

(c) – 75 –<br />

(d) – – 551<br />

1,085 1,137 1,493<br />

118


20 <br />

(a)<br />

<br />

<br />

<br />

<br />

0 30 419 364 349<br />

31 60 176 185 138<br />

61 90 85 86 79<br />

90 131 217 113<br />

811 852 679<br />

<br />

5.22 5.59 4.69 <br />

<br />

<br />

<br />

<br />

<br />

1 30 300 247 214<br />

31 60 92 99 114<br />

61 90 49 110 62<br />

90 81 103 79<br />

522 559 469<br />

119


20 <br />

(a)<br />

<br />

1.851.65 1.75 <br />

<br />

<br />

<br />

<br />

3 – –<br />

1 30 6 4 1<br />

31 60 20 19 17<br />

61 90 18 14 16<br />

90 138 128 141<br />

185 165 175<br />

<br />

<br />

<br />

165 175 159<br />

208 161 145<br />

(120) (73) (79)<br />

(68) (98) (50)<br />

185 165 175<br />

8<br />

<br />

(b)<br />

<br />

<br />

<br />

120


20 <br />

(c)<br />

<br />

3% <br />

<br />

(d)<br />

<br />

<br />

<br />

<br />

21 <br />

300 <br />

2,100 900 <br />

22 <br />

(a)<br />

<br />

50,000 1 <br />

1000.2525<br />

HTI Cayman 32 0.25<br />

1 50,000 1 <br />

(b)<br />

<br />

<br />

<br />

1<br />

0.25 <br />

<br />

<br />

<br />

<br />

1 – – –<br />

– – 4,814,346,208 1,204<br />

(1) – – –<br />

– – 4,814,346,208 1,204<br />

121


22 <br />

(b)<br />

<br />

HTI Cayman<br />

HTI Cayman 4,814,346,176<br />

124.18<br />

12.04<br />

112.14 <br />

(c)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

– –<br />

1 4,750,000<br />

1 4,750,000<br />

<br />

4,750,000<br />

3,166,666 <br />

0.27<br />

49% 5.9% 1.65%<br />

122


23 <br />

<br />

<br />

<br />

<br />

<br />

– (3,026) 1 (18) – 17 (3,026)<br />

– (268) – – – – (268)<br />

– (3,294) 1 (18) – 17 (3,294)<br />

– 180 – – – – 180<br />

– – – 31 – – 31<br />

<br />

– (3,114) 1 13 – 17 (3,083)<br />

<br />

<br />

<br />

<br />

– (2,759) 1 13 – 17 (2,728)<br />

2(b) – (355) – – – – (355)<br />

– (3,114) 1 13 – 17 (3,083)<br />

– 230 – – – – 230<br />

– – – (96) – – (96)<br />

<br />

– (2,884) 1 (83) – 17 (2,949)<br />

123


23 <br />

<br />

<br />

<br />

<br />

<br />

– (2,329) 1 (83) – 17 (2,394)<br />

<br />

2(b) – (555) – – – – (555)<br />

– (2,884) 1 (83) – 17 (2,949)<br />

– 468 – – – – 468<br />

22(b) 11,214 – – – – – 11,214<br />

(33) – – – – – (33)<br />

12 – (54) – – – – (54)<br />

– – – 42 – – 42<br />

<br />

– – – – 1 – 1<br />

11,181 (2,470) 1 (41) 1 17 8,689<br />

2,7001,100<br />

124


23 <br />

<br />

<br />

<br />

<br />

– – – –<br />

– – – –<br />

– – – –<br />

– – – –<br />

– – – –<br />

– – – –<br />

– – – –<br />

– 359 – 359<br />

<br />

– – 1 1<br />

12 – (54) – (54)<br />

22(b) 11,214 – – 11,214<br />

(33) – – (33)<br />

11,181 305 1 11,487<br />

114.87<br />

<br />

125


24 <br />

<br />

<br />

<br />

– 5,220 4,133<br />

– – 555<br />

– 5,220 4,688<br />

<br />

4,358 – –<br />

4,358 – –<br />

4,358 5,220 4,688<br />

<br />

<br />

<br />

<br />

– 5,220 4,133<br />

4,358 – –<br />

<br />

– – 555<br />

4,358 5,220 4,688<br />

<br />

<br />

<br />

<br />

– – 551<br />

– – –<br />

– – 551<br />

<br />

– – 551<br />

– – 551<br />

126


24 <br />

<br />

<br />

<br />

4,358 5,220 4,137<br />

– – 551<br />

4,358 5,220 4,688<br />

<br />

<br />

<br />

<br />

<br />

<br />

5.1% – – 4,048<br />

<br />

1.1%<br />

2.7% <br />

5.0% 4,358 5,220 85<br />

<br />

<br />

<br />

0% 7% – – 551<br />

<br />

<br />

<br />

7.5% – – 4<br />

4,358 5,220 4,688<br />

– (5,220) (4,688)<br />

4,358 – –<br />

<br />

1.1%2.7% 5.0% 7.5%<br />

<br />

<br />

30.84 22.90<br />

127


24 <br />

<br />

45.99 <br />

<br />

90.00 52.20<br />

25 <br />

<br />

<br />

(a) 450 474 487<br />

30(a) 43 81 –<br />

102 86 74<br />

595 641 561<br />

(a)<br />

<br />

<br />

<br />

<br />

91 81 71<br />

463 423 382<br />

292 423 544<br />

846 927 997<br />

(315) (381) (447)<br />

531 546 550<br />

<br />

26 81 72 63<br />

<br />

310 283 255<br />

140 191 232<br />

450 474 487<br />

531 546 550<br />

128


26 <br />

<br />

<br />

(a) 320 385 328<br />

1,689 1,398 1,420<br />

1,227 1,207 1,094<br />

25 81 72 63<br />

3,317 3,062 2,905<br />

(a)<br />

<br />

<br />

<br />

<br />

0 30 69 144 89<br />

31 60 44 60 45<br />

61 90 26 28 40<br />

90 181 153 154<br />

320 385 328<br />

27 <br />

(a)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

591 291<br />

<br />

9 (4) (17)<br />

9 184 223<br />

1,288 1,390<br />

8 18 6<br />

18 16 11<br />

<br />

(27) (116)<br />

21 (17)<br />

171 80<br />

5 (1)<br />

2,263 1,850<br />

129


27 <br />

(b)<br />

<br />

<br />

<br />

<br />

<br />

<br />

4,688 719<br />

5,650 –<br />

(5,118) –<br />

– 12<br />

– (120)<br />

– 1<br />

5,220 612<br />

5,220 612<br />

9,462 –<br />

(10,330) –<br />

– (62)<br />

6 –<br />

– (1)<br />

4,358 549<br />

28 <br />

<br />

<br />

<br />

<br />

<br />

637 512<br />

16 39<br />

653 551<br />

130


29 <br />

<br />

(a)<br />

<br />

<br />

<br />

<br />

<br />

<br />

673 763<br />

635 1,397<br />

1,308 2,160<br />

<br />

6 16<br />

(b)<br />

<br />

<br />

<br />

<br />

<br />

<br />

286 288 148 142<br />

133 182 72 78<br />

1 1 – –<br />

420 471 220 220<br />

(c)<br />

<br />

1900 - 21703G<br />

<br />

5%<br />

<br />

131


30 <br />

<br />

(a)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

16 – – 15<br />

25 (43) (81) –<br />

(43) (81) 15<br />

<br />

<br />

2.20% – 2.30% 1.60% – 1.70% 3.20% – 3.30%<br />

7% 7% 8%<br />

1.50% – 3.00% 0.00% – 3.00% 4.00% – 5.00%<br />

5.00% – 6.00% 5.00% – 6.00% 5.00% – 6.00%<br />

<br />

<br />

<br />

26 22 21<br />

3 6 6<br />

(9) (16) (14)<br />

7 20 12 13<br />

<br />

(221) (218) (188)<br />

178 137 203<br />

(43) (81) 15<br />

132


30 <br />

(a)<br />

<br />

<br />

<br />

<br />

218 188 172<br />

26 22 21<br />

1 1 1<br />

3 6 6<br />

(20) 21 5<br />

(7) (20) (19)<br />

– – 2<br />

221 218 188<br />

<br />

137 203 166<br />

9 16 14<br />

23 (76) 37<br />

15 13 2<br />

1 1 1<br />

(7) (20) (19)<br />

– – 2<br />

178 137 203<br />

<br />

63% 54% 66%<br />

22% 25% 18%<br />

15% 21% 16%<br />

100% 100% 100%<br />

2,100<br />

133


30 <br />

(a)<br />

<br />

<br />

<br />

<br />

178 137 203<br />

(221) (218) (188)<br />

(43) (81) 15<br />

22 (77) 37<br />

% 12 (56) 18<br />

1 7 8<br />

% – 3 4<br />

3,200 6,000<br />

5,100 <br />

4,600<br />

8,900 (800)<br />

<br />

<br />

<br />

6%<br />

<br />

<br />

<br />

99.8%6.0%4.0%<br />

Tian Keat AunThe Institute of Actuaries <br />

5%<br />

<br />

134


30 <br />

(b)<br />

<br />

<br />

<br />

400 500 1040<br />

<br />

31 <br />

Hutchison Global Communications Investment Holding Limited Hutchison Tele<strong>com</strong>munications<br />

(HK) Holdings Limited <br />

138 139 <br />

32 <br />

63%<br />

33 <br />

<br />

<br />

<br />

<br />

(1) <br />

(2) <br />

(3) <br />

(a) <br />

(b) DoCoMo NTT DoCoMo, Inc.<br />

<br />

<br />

(a)<br />

<br />

7 <br />

<br />

135


33 <br />

(b)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

34 45<br />

95 99<br />

1 1<br />

4 (142)<br />

(8) (8)<br />

(62) (57)<br />

(30) (27)<br />

(14) (14)<br />

(8) (6)<br />

(2) (3)<br />

(22) (23)<br />

(14) (13)<br />

(16) (15)<br />

(21) –<br />

<br />

1 3<br />

1 –<br />

33 27<br />

(2) –<br />

(5) (8)<br />

<br />

1 –<br />

57 45<br />

(5) (5)<br />

(3) (12)<br />

(7) (8)<br />

DoCoMo <br />

19 25<br />

136


33 <br />

(b)<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

(18) (44)<br />

<br />

(c)<br />

<br />

<br />

<br />

<br />

<br />

– – – 8,896 8,672<br />

(i) – – – 8,896 8,672<br />

<br />

HTI (Cayman) (ii) – 12,418 8,600 – 12,418<br />

<br />

Hutchison Tele<strong>com</strong>munications<br />

International (HK) Limited – – 5,143 – –<br />

– – – 77 125<br />

(iii) – 12,418 13,743 77 12,543<br />

<br />

(i)<br />

<br />

(ii)<br />

124.18 4,814,346,176<br />

22(b)<br />

(iii)<br />

<br />

137


Hutchison Global 320 100% <br />

Communications 1 <br />

Investment Holding<br />

Limited<br />

Hutchison 1 1 100% <br />

Tele<strong>com</strong>munications <br />

(HK) Holdings Limited<br />

2 10 100%<br />

<br />

2 1 100%<br />

<br />

Hutchison Global 2 1 100%<br />

Communications <br />

(Malaysia) Sdn. Bhd.<br />

Hutchison Global 2 1 100%<br />

Communications <br />

Pte Limited<br />

<br />

100,000 100%<br />

10<br />

<br />

Hutchison Global 3,000 100%<br />

Communications 0.01<br />

(US) Limited<br />

2 10 100%<br />

<br />

2 10 100%<br />

<br />

138


10,000,000 100%<br />

<br />

<br />

2 10 100%<br />

<br />

125,812 75.9%<br />

10<br />

10,000,000 75.9%<br />

<br />

200 100%<br />

1 <br />

139


8,449 8,124 7,249 6,607<br />

530 218 164 170<br />

(62) 12 16 72<br />

468 230 180 242<br />

<br />

16,241 16,278 16,187 17,055<br />

268 272 275 361<br />

1,245 1,318 1,657 2,458<br />

17,754 17,868 18,119 19,874<br />

<br />

1,204 - - -<br />

8,689 (2,949) (3,083) (3,294)<br />

9,893 (2,949) (3,083) (3,294)<br />

(549) (612) (719) (704)<br />

9,344 (3,561) (3,802) (3,998)<br />

<br />

4,358 - - 10,280<br />

729 721 577 588<br />

– 12,418 13,743 10,370<br />

3,323 8,290 7,601 2,634<br />

8,410 21,429 21,921 23,872<br />

17,754 17,868 18,119 19,874<br />

<br />

<br />

<br />

<br />

<br />

140


215<br />

<br />

Butterfield Fulcrum Group (Cayman) Limited<br />

Butterfield House, 68 Fort Street, P.O. Box 609,<br />

Grand Cayman KY1-1107, Cayman Islands<br />

+1 345 949 7055<br />

+1 345 949 7004<br />

<br />

20091231<br />

19.3230.4%<br />

<br />

2009<br />

2009<br />

<br />

<br />

2009<br />

2010<br />

2009910<br />

201038<br />

201057<br />

2010511<br />

2010511<br />

2010518<br />

20108<br />

<br />

Scotia Centre, 4th Floor, P.O. Box 2804, George Town,<br />

Grand Cayman KY1-1112, Cayman Islands<br />

<br />

10 22 <br />

+852 2128 1188<br />

+852 2128 1778<br />

<br />

99 19 <br />

+852 2128 2828<br />

+852 2128 3388<br />

<br />

<br />

183 <br />

17 1712-1716 <br />

+852 2862 8628<br />

+852 2865 0990<br />

<br />

Citibank Shareholder Services<br />

P.O. Box 43077, Providence, Rhode Island 02940-3077,<br />

the United States of America<br />

1 877 248 4237<br />

+1 781 575 4555<br />

+1 201 324 3284<br />

<br />

citibank@shareholders-online.<strong>com</strong><br />

<br />

<br />

<br />

<br />

+852 2128 6828<br />

+852 3909 0966<br />

ir@hthkh.<strong>com</strong><br />

<br />

www.hthkh.<strong>com</strong>

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