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International
Telecommunications Services
Turnover
of Group’s international
telecommunications services business, mainly
comprising wholesale and retail IDD
services, increased
by 14% over the previous year to HK＄501million.Our
wholesale IDD business contributed
outstanding growth levels to the
international telecommunications services
business while the start-up retail IDD
business showed promise.
In
the financial year under review, the
Group entered Vietnam, Japan
and the united Kingdom, offering
wholesale IDD services. The
success of the overseas expansion strategy
is evident in the significant contributions
by the new overseas markets. The new
overseas markets contributed towards the
doubling of the Group’s total IDD voice
traffic to 2,400 million minutes for the
financial year under review.
On the product front, the Group launched“ChinaOne
0050”in
Hong Kong in May 2003. Subsequent to the
launches, we also obtained retail licenses
in Singapore, Taiwan and ten states in the
United States of America. As at the end of
March 2004, the number of subscribers was
approximately 120,000, and is expected to
grow in the coming year. Responding to the
“Individual Visit Scheme”, We have also
introduced a number of IDD calling cards for
cross-border travelers.
Voice Over
Internet Protocol (VOIP) Related Business
Stage one of the acquisition of 25%
shareholding in China Motion Netcom Services
Co., Ltd. which currently provides VOLP
related services in China has been completed
in line with schedule. The total purchase
consideration for this stage amounted to HK＄129
million and the corresponding amortization
of goodwill has been included under the item
“Share of (losses)/profits of associated
companies” in the consolidated profit and
loss account.
For detail information, please visit:
www.chinaone.com.hk
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