Global Highlights

Property Development and Holdings

Hong Kong

Cheung Kong Center is due for completion by the end of 1998.

Projects in Hung Hom, North Point, Tsing Yi, Tung Chung, Ma On Shan and Tai Po are well underway.

Mainland China

Residential and commercial properties are under development in Beijing, Chongqing, Guangzhou, Qingdao, Shanghai and Zhuhai.

Grand Bahama Island

The Group is redeveloping a resort hotel complex with golf courses.

United Kingdom

The Royal Gate Kensington development is scheduled for completion in 1998. Other interests include sites near Sloane Square and the Albion and Bridge Wharves.

Japan

The Group acquired an interest in a site adjacent to Tokyo Station.

Singapore

The Group acquired an interest in a site to develop a residential complex.

Ports and Related Services

Hong Kong

Hongkong International Terminals' overall throughput totalled 5.1 million TEUs, an increase of 13.1% over 1996.

Mainland China

Throughputs at Shanghai Container Terminals, Yantian International Container Terminals and Hutchison Delta Ports rose 22.8%, 80.6% and 22.1% respectively during the year.

Myanmar

The Group increased its holdings in the container port facility at Thilawa (Yangon) to 80%.

United Kingdom

The Port of Felixstowe recorded an 11.8% rise in throughput. The Group acquired the Thamesport and Harwich ports.

The Americas and the Caribbean

The two ports at Balboa and Cristobal in Panama are operational.

The two-berth Freeport Container Port on Grand Bahama Island began operations.

Retail, Manufacturing and Other Services

Hong Kong

Park'N Shop introduced the "wet market" concept for fresh foods in its superstores. Other retail chains and manufacturing operations achieved satisfactory results.

Harbour Plaza Hong Kong has an occupancy rate above the local industry average.

Mainland China

Park'N Shop continued to expand in the Mainland, where it is now established as the largest non-local food retailer.

A S Watson's manufacturing division continued to strengthen its distribution network and production facilities.

Hutchison Whampoa (China) achieved another year of solid growth for its consumer products and aviation joint ventures.

Three new hotels were acquired in Beijing, Shenyang and Kunming.

Southeast Asia

Stores operated by Watson's The Chemist in Southeast Asia produced satisfactory results.

Telecommunications

Hong Kong

Hutchison Telecommunications' Hong Kong subscriber base grew to 616,000 on its three networks - GSM, CDMA and PCS.

Metro Broadcast achieved break-even in the year.

Mainland China

Chung Kiu Telecommunications (China), through a joint venture, provides consulting and engineering services to the Great Wall CDMA cellular networks.

Asia Pacific

Operations in India and Australia performed well. The Group acquired a 100% interest in an established cellular operator in Sri Lanka.

United States

Hutchison Telecommunications entered the US market through acquisition of an interest in Western Wireless.

Europe

Orange passed the one million subscribers milestone in July. The company also holds a 17% interest in a consortium which won the third mobile phone licence in Austria.

Service provider businesses in France and Germany also contributed to Orange's growth.

Energy, Infrastructure, Finance and Investment

Hong Kong

The Group acquired an 84.58% interest in Cheung Kong Infrastructure (CKI) through the reorganisation of the Cheung Kong Group.

Mainland China

CKI operates three core businesses in the Mainland: infrastructure materials; energy; and transportation.

Canada

Husky Oil substantially increased its earnings and achieved significant growth in shareholder value, cash flow, production volumes and reserves.