Wednesday, 3 June 2009



In 2009, the Group is facing the most challenging environment in
recent times with growth slowing in most markets and many of the
world’s major economies in recession. The financial crisis which
originated in the United States has led to global economic activity
slowing sharply in the last quarter of 2008 and through January and
February of this year and this has already affected Hong Kong.
However, with the support of Central Government’s initiatives, the
Mainland economy has to date maintained healthy domestic demand
and the impact of external economic factors affecting Hong Kong
should be mitigated to a large extent.
In the current global economic environment, the Group is focused on
maintaining strict operational and financial discipline to successfully
execute its business strategy. The Group’s cash position remains
healthy. Looking ahead, although the unprecedented economic
environment will have differing adverse effects on the Group’s various
businesses around the world, overall the Group’s established
businesses are still expected to continue to perform satisfactorily and
the 3 Group to continue to progress. I have full confidence in the long
term future prospects of the Group.
I would like to thank the Board of Directors and all employees around
the world for their loyalty, hardwork, professionalism and contributions
to the Group.

Established Businesses
Ports and Related

While global trade declined sharply in the fourth quarter, the ports and
related services division reported overall growth for the year. Total
throughput for the year increased 2% to 67.6 million twenty-foot
equivalent units (“TEUs”), total revenue grew 4% to HK$39,594
million and EBIT increased 3% to HK$13,236 million. This division is
facing reducing global trade volumes, including in Hong Kong and
other Asian ports, and therefore 2009 is expected to be a more
challenging year.

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