Hutchison Whampoa Ltd’s Hutchison Telecommunications Ltd says that profits in 1991 rose by over a third to the equivalent of $38.7m and after a dip this year, when heavy investments will be made, it looks to reach $130m profit by 1994: according to managing director Richard Siemens, China is the number one priority for expansion this year, followed by a move into the Indian subcontinent, Australia, France and Germany; Hutchison Whampoa concedes that it is still in discussions about selling a stake in the telecommunications subsidiary to a cash-rich partner, with Telecommunication Authority of Singapore named as a possible; it would also like one more in the UK.
