CITIC Telecom Tower (CTT) is located in centre of Hong Kong and International logistics center – Kwai Chung. It is one of the two major data centers in Hong Kong. It is within a half-hour traffic circle from Central, Airport and China Borders. CITIC Telecom has specialized in data center operations for more than 15 years. The CTT data center has two floors, providing 800 racks, primarily for financial and Internet companies, with occupancy rates of more than 90 percent. The Extraordinary General Meeting approved the acquisition of the remaining floors of the CITIC Telecom Tower for HK $ 850 million to expand the high-end data center, enhance the Group’s capacity and market position in the data center business and further enhance the Group’s other telecommunications services such as Virtual Private Network ) Services, cloud computing, disaster recovery, resulting in significant strategic synergies. The first phase of the new data center is planned to be operational within two years of completion of the acquisition. After the completion of the overall transformation, CTT will become a single purpose Tier 3 + high-end data center building, the room extended to the 12 floors, providing more than 4000 cabinets, not only into the forefront of Hong Kong’s top ten data centers, will become the largest self-owned property data center in the western area of Hong Kong.