CCT Fortis Holdings Limited announced that its wholly owned subsidiary Goldbay Investments Limited has signed a provisional sale and purchase agreement to sell Units 01, 02, 03, 05, 06, 07, 08, 09 and 10 on the 18th floor of CCT Telecom Building, Shatin, to Trimworld Limited for HK$42.45 million in cash.

The consideration was set with reference to prevailing market prices for comparable properties and will be settled in three tranches: an initial HK$1.23 million deposit already paid, a further HK$2.87 million upon signing the formal agreement by 5 June 2026, and a final HK$38.35 million on or before completion by 31 July 2026.

The property, acquired in 1998 and classified as an investment property, had an audited carrying value of HK$68.30 million as at 31 December 2025. Based on the agreed consideration and approximately HK$0.58 million of disposal expenses, the group expects to book an unaudited loss of about HK$26.43 million for the year ending 31 December 2026.

Net proceeds of roughly HK$41.87 million are earmarked for full repayment of the outstanding mortgage secured on the property.

Because at least one applicable percentage ratio exceeds 25% but is below 75%, the disposal constitutes a major transaction under Hong Kong Listing Rules. A shareholder group led by Chairman Mr. Mak Shiu Tong and holding 74.98% of issued shares has provided written approval, eliminating the need for a general meeting. A circular containing further details will be dispatched by 15 June 2026.

Upon completion, the transaction will enhance the group’s cash position while removing a non-core, vacant asset from the balance sheet. CCT Fortis’s principal businesses include property, securities trading, automotive operations under the Blackbird brand, and cultural entertainment.