Wednesday, March 04, 2009

Hutchison Promises No Update

Hutchison Telecommunications International Limited (HTX) announced some fine results. Business seems to be looking good despite the global financial difficulties. A high percentage of new customers appear to be businesses and you have to wonder if that trend will continue. Productivity is a compelling selling feature up to a point. Communications is an enabler but not a driver of business activity.

Take a look at the cautionary statement that Hutchison included with their press release. I found this quote to be particularly interesting.

“....Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update publicly any of them in light of new information or future events......”

So let me get this straight. If something major changes that was discussed they do not feel an obligation to disclose the changes. This does not sound compliant with Reg FD. Time to walk down to legal department and kick this one around a bit. Because every business will have its problems. That’s called risk. But if you hide the problems that’s called (insert nasty words of your choice)