CCT Telecom slips into the red

An $81 million provision mostly for disposing of unlisted investments pushed diversified group CCT Telecom Holdings into a $70.29 million net loss in the six months ended in June from a $12.78 million net profit in the same period last year. The company said it was pursuing mergers and acquisitions in the manufacturing of telecommunications products to improve its profitability while seeking opportunities to expand into Hong Kong's deregulated telecoms market.