Hutchison Port Trust : Annual Report 2021 - Trustee-Manager

HUTCHISON PORT HOLDINGS MANAGEMENT PTE. LIMITED

(A limited liability company incorporated in the Republic of Singapore under the Companies Act 1967 of Singapore)

(Company registration number: 201100749W)

ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

General Information

Hutchison Port Holdings Management Pte. Limited

DIRECTORS

Mr. FOK Kin Ning, Canning (Chairman) Ms. Edith SHIH

Mr. IP Sing Chi

Ms. LEE Tung Wan, Diana Mr. CHAN Tze Leung, Robert Dr. FONG Chi Wai, Alex

Mr. Graeme Allan JACK

Mrs. SNG Sow-Mei (alias Poon Sow Mei) Mr. WONG Kwai Lam

COMPANY SECRETARY

Ms. WONG Yoen Har

REGISTERED OFFICE

1 Harbourfront Avenue #14-07, Keppel Bay Tower Singapore 098632

AUDITOR

PricewaterhouseCoopers LLP

CONTENTS

• 1 Directors' Statement

• 3 Independent Auditor's Report

• 6 Statement of Comprehensive Income

• 7 Statement of Financial Position

• 8 Statement of Cash Flows

• 9 Statement of Changes in Equity

• 10 Notes to the Financial Statements

Directors' Statement

The directors of Hutchison Port Holdings Management Pte. Limited (the "Company") present their statement to the members, together with the audited financial statements of the Company for the year ended 31 December 2021.

In the opinion of the directors,

(a) the financial statements as set out on pages 6 to 21 are drawn up so as to give a true and fair view of the financial position of the Company as at 31 December 2021 and the financial performance, cash flows and changes in equity of the Company for the financial year covered by the financial statements; and

(b) at the date of this statement, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they fall due.

Directors

The directors of the Company in office at the date of this statement are as follows:

Mr. Fok Kin Ning, Canning (Chairman)

Ms. Edith Shih

Mr. Ip Sing Chi

Ms. Lee Tung Wan, Diana Mr. Chan Tze Leung, Robert Dr. Fong Chi Wai, Alex

(appointed with effect from 1 January 2022)

Mr. Graeme Allan Jack

Mrs. Sng Sow-Mei (alias Poon Sow Mei) Mr. Wong Kwai Lam

Ms. Tsim Sin Ling, Ruth was a director of the Company during the year up to her resignation which took effect from 1

January 2022.

Arrangements to enable directors to acquire shares and debentures

Neither at the end of nor at any time during the year was the Company a party to any arrangement whose object was to enable the directors of the Company to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate.

Directors' interests in shares or debentures

According to the Register of Directors' Shareholdings kept by the Company under Section 164 of the Companies Act 1967 of Singapore, none of the directors holding office at the end of the year (or during the year) had any interest in shares in, or debentures of, the Company or its related corporations, except as follows:

Holdings registered in	Holdings in which a director is
name of director	deemed to have an interest
At 31.12.2021 At 1.1.2021	At 31.12.2021 At 1.1.2021

Hutchison Telecommunications (Australia)

Limited

- Number of ordinary shares

Mr. Fok Kin Ning, Canning

100,000

• 100,000 5,000,000 5,000,000

  Hutchison Telecommunications Hong Kong Holdings Limited

  - Number of ordinary shares Mr. Fok Kin Ning, Canning

  -

• - 1,202,380 1,202,380

Directors' Statement

Directors' interests in shares or debentures (Continued)

Holdings registered in name of director

Holdings in which a director is deemed to have an interest

At 31.12.2021 At 1.1.2021 At 31.12.2021 At 1.1.2021

Hutchison Whampoa International (11) Limited - 4.625% Notes due 2022

Ms. Edith Shih

A nominal amount of US$250,000

A nominal amount of US$250,000

-

-

CK Hutchison Holdings Limited ("CKHH")

- Number of ordinary shares

Mr. Fok Kin Ning, Canning Ms. Edith Shih

- 187,125

- 187,125

6,011,438 5,062

6,011,438 5,062

Share options

There were no share options granted during the year to anyone to take up unissued shares of the Company.

No shares have been issued during the year by virtue of the exercise of share options to take up unissued shares of the Company.

There were no unissued shares of the Company under share option at the end of the year.

Independent auditor

The independent auditor, PricewaterhouseCoopers LLP, has expressed its willingness to accept re-appointment.

On behalf of the directors

Ip Sing Chi DirectorLee Tung Wan, Diana Director

9 February 2022

Independent Auditor's Report

To the Members of Hutchison Port Holdings Management Pte. Limited

Report on the Audit of the Financial Statements

Our opinion

In our opinion, the accompanying financial statements of Hutchison Port Holdings Management Pte. Limited (the "Company") are properly drawn up in accordance with the provisions of the Companies Act 1967 (the "Act") and Financial Reporting Standards in Singapore ("FRSs") so as to give a true and fair view of the financial position of the Company as at 31 December 2021 and of the financial performance, cash flows and changes in equity of the Company for the year ended on that date.

What we have audited

The financial statements of the Company comprise:







the statement of comprehensive income for the year ended; the statement of financial position as at 31 December 2021; the statement of cash flows for the year then ended;



the statement of changes in equity for the year then ended; and



the notes to the financial statements, including a summary of significant accounting policies.

Basis for Opinion

We conducted our audit in accordance with Singapore Standards on Auditing ("SSAs"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We are independent of the Company in accordance with the Accounting and Corporate Regulatory Authority Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities ("ACRA Code") together with the ethical requirements that are relevant to our audit of the financial statements in Singapore, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ACRA Code.

Other Information

Management is responsible for the other information. The other information comprises the Directors' Statement included in pages 1 to 2 but does not include the financial statements and our auditor's report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information identified above and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed on the other information that we obtained prior to the date of this auditor's report, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.