Hutchison Telecommunications Hong Kong (0215) posted a HK$25 million loss last year and confirmed its exit from loss-making Macau business.
The mobile telecommunications firm, which provides services under the 3 brand, said it sold the Macau operations for HK$110 million in January and booked a profit of HK$2 million from the disposal.
Macau media last week reported that the operation was sold to rival Citic Telecom International’s (1883) Companhia de Telecomunicações de Macau.
Hutchison’s loss from the Macau segment widened by 72 percent last year to HK$43 million, but it kept the final dividend unchanged at 5.21 HK cents.
The company said it now operates with a more streamlined structure that enables focused investment in Hong Kong business and that it will reconsider the dividend policy with a strengthened cash position and enhanced profitability.
