Hutchison chairman sees further Vodafone losses Hutchison Telecom says it expects further losses from troubled mobile carrier Vodafone Australia after it lost close to $900 million in 2012. Chairman of Hutchison, Canning Fok Kin-ning, said though the telco had made "meaningful inroads in stabilising customers and financial performance," he still expected the company's balance sheet to be in red this year. "Although continuing losses are anticipated in 2013, HTAL [Hutchison Telecom Australia] expects improvements in VHA [Vodafone Australia]'s performance through the year and into 2014," he said. Vodafone Australia is a 50/50 joint venture between Vodafone, a global telco giant, and Hutchison Telecom, which is owned by the richest man in Asia, Li Ka-shing. Hutchison lost $408.8 million last year but earned $19 million of interest from its loans to Vodafone Australia. Mr Fok reiterated his support for the loss-making venture at the company's annual general meeting held on Thursday. "It is important to remind you that Hutchison, together with its joint shareholder, Vodafone, continues to support VHA and we have fully endorsed the strategy to turn VHA's business around," Mr Fok said. The company recorded an $899 million loss for last calendar year. The company also recorded its first ever negative cash flow last year. Vodafone Australia chief executive Bill Morrow, who has a reputation for turning around distressed businesses, is fighting an uphill battle of winning back disgruntled customers due to the well-documented network failure issues. The Hutchison chairman told shareholders "regaining this trust is the key focus of VHA, and the continued investment in the network is critical for the future success of VHA." The company is due to launch its 4G network this June.