CCT Telecom (HKG:0138) Sells Child Product Biz to CCT Tech (HKG:0261)

   Date:2012-02-02

CCT Telecom (HKG:0138) and CCT Tech (HKG:0261) announced that CCT Telecom has agreed to sell to CCT Tech 100% equity interest in Wiltec Industries Investment Limited (WIIL) for HK$67.471 million, which will be satisfied with a five-year promissory note bearing an interest rate of 3% per annum payable annually.

The WIIL group is principally engaged in the manufacture and sale of baby and child products.

For the year ended 31 December 2011, the unaudited consolidated loss before tax of the WIIL group is HK$24 million and the unaudited consolidated profit after tax of the group is HK$9 million.

CCT Telecom currently holds 50.49% equity interest in CCT TEch.



 

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