In January, Hutchison Port Holdings acquires three additional terminals in Korea (two in Pusan's Jansungdae and Gamman, and one in Kwangyang) from Hyundai Merchant Marine for USD215 million.
In April, the Group announces the launch of Priceline to provide the Name Your Own PriceTM Internet travel service in Asia. Priceline is operated by Hutchison-Priceline (Travel) Limited - a company formed with investments from Hutchison Whampoa Limited and US-based priceline.com Inc.
In April, A.S. Watson announces a joint venture with members of the SM Group Health and Beauty and Family Drugstore to bring Watson's health and beauty and pharmacy stores to the Philippines. The joint venture, Watsons Personal Care Store (Philippines), Inc., has acquired the existing 61 health and beauty and drug stores under the SM Group.
In June, Hutchison 3G Ireland Limited has been awarded the "A" licence (2 x 15 MHz paired and 1 x 5 MHz unpaired spectrum) in the Republic of Ireland 3G licence bid process. The Group expects to derive tremendous synergy with its existing 3G business in the United Kingdom.
In June, Watsons Water launches an innovative new bottle design in Hong Kong.
In July, Cheung Kong Infrastructure Holdings Limited (CKI) and Hongkong Electric Holdings Limited (HEH) consolidate their position as Australia's leading energy distributor with the successful acquisition of Citipower I Pty Ltd (Citipower), the electricity utility which serves Melbourne, Victoria, and its surrounding suburbs for a net AD1.418 billion (approximately HKD6.2 billion). Citipower consists of network distribution business as well as retail operation. The total consideration for the Citipower tender is AD1.555 billion. The CKI/HEH partnership takes up the distribution business of Citipower, valued at AD1.418 billion, and onsell Citipower's retail business to Origin Energy, a leading listed Australia energy provider, for a consideration of AD137 million.
In August, Hutchison Telecommunications Limited and Singapore Technologies Telemedia Pte Ltd (ST Telemedia) announce the signing of an agreement with Global Crossing to invest USD250 million for 61.5 per cent majority interest in the company.
In August, Hutchison Global Crossing changes its English name to Hutchison Global Communications ("HGC"). HGC's Chinese name remains unchanged. The change in the company name has no impact on the existing contracts, businesses or day-to-day operations of the company.
In August, the Group announces that it has, through its wholly owned subsidiary A.S. Watson (ASW), made an offer to acquire one of Europe's leading Health & Beauty retail businesses, the Kruidvat Group, for approximately EUR1,300 million. The addition of the Kruidvat Group significantly enhances ASW's presence in Europe, its leading market position, its earnings growth, and in addition provides synergies with ASW's existing operations. The Kruidvat outlets, in conjunction with ASW's existing 930 personal care stores, makes ASW one of the world's largest health and beauty chains. The companies acquired include Health and Beauty retail chains Superdrug in the UK, Kruidvat and Trekpleister in the Netherlands, Kruidvat in Belgium and Rossmann (50 per cent interest) in Poland, Hungary and the Czech Republic; and Perfumery retail chain ICI Paris XL in the Netherlands and Belgium.
In September, PARKnSHOP China opens its largest Megastore in the Haizhu District of Guangzhou with an area of 20,300 sq m.
In October, the Group announces that NEC Corporation has agreed to acquire from HWL a 5 per cent strategic equity interest in both Hutchison Telephone Company Ltd.(HTCL), and Hutchison 3G HK Holdings (H3G HK) for a total cash consideration of USD73 million. Hence, the Group's interest in HTCL and H3G HK will change from 74.63 per cent to approximately 71 per cent, whilst NTT DoCoMo's stake will change from 25.37 per cent to approximately 24 per cent for both companies.
In October, the Group announces an agreement with NEC Corporation (NEC) to increase its November 2001 order of third generation (3G) video devices for the Group's 3G companies worldwide from one million to two million NEC video devices.
In October, the Group unveils the brand identity 3 for its mobile multi-media services (3G) worldwide.
In November, PARKnSHOP Hong Kong opens its first two Express stores, providing supermarket shopping convenience in a compressed format to consumers.
In December, the Cross City Motorway Consortium (CCM), led by Cheung Kong Infrastructure Holdings Limited (CKI), announces that it has been awarded the contract of the Cross City Tunnel project in Sydney by the New South Wales Government. The tunnel is expected to begin operations by end- 2006. CKI has a 50 per cent interest in CCM. Other members of the consortium include D B Capital Partners and construction contractor Baulderstone Hornibrook, with 30 per cent and 20 per cent, respectively.