| For Immediate Release | 9 December 2025 |
(9 December 2025 - Hong Kong) Far East Consortium International Limited ("FEC", along with its subsidiaries, the "Group"; SEHK: 35) is pleased to announce that on 8 December 2025, its wholly-owned subsidiaries, Far East Consortium Holdings (Australia) Pty Ltd and FEC Hotel Operations Holdings (Australia) Pty Ltd (the "Vendors"), entered into a Sale and Purchase Agreement with The Generation Essentials Group ("TGE"), a company incorporated in the Cayman Islands with shares listed on the New York Stock Exchange (NYSE: TGE).
Under the agreement, the Vendors have agreed to sell their 50% equity interests in Perth FEC Pty Ltd and RC Perth Operations Pty Ltd, which owns The Ritz Carlton, Perth, located at 1 Barrack Street, Perth WA 6000, Australia, at an aggregate consideration of A$100 million as a net debt basis. Upon completion, the Group expects to record a gain of approximately A$32.5 million from the Sale.
The disposal represents part of FEC's ongoing strategy to monetise hotel assets in selected markets. The Group continues to actively evaluate opportunities to optimise its portfolio and enhance shareholder value.
As at 30 September 2025, FEC owned and operated 38 hotels with approximately 9,700 rooms, spanning Hong Kong, Chinese Mainland, the United Kingdom, Australia, Singapore, Malaysia, Germany, Austria and Czech Republic. The Group also has 4 hotels under development which upon completion will expand the portfolio to 42 hotels with approximately 10,600 rooms.
For further details regarding the sale, please refer to FEC's announcement published on the Hong Kong Stock Exchange on 8 December 2025.
Ms. Wendy Chiu, Executive Director and Joint Managing Director of FEC, said, "The introduction of a strategic partner into The Ritz Carlton, Perth reflects our proven track record of successfully monetising our portfolio of premium hotel assets over the years. Over the past two to three years, we have reduced more than HK$8.3 billion in total bank borrowings, loans and notes, lowering our gearing ratio by 10 percentage points through the selective disposal of non-core assets.
The net proceeds from this transaction will help maintain a healthy balance sheet, further improve our gearing ratio, and enable us to deploy capital into our HK$61.8 billion global residential development pipeline and our other core business. Looking ahead, we will continue to explore opportunities to monetise non-core assets as part of our disciplined capital and liability management strategy."
About Far East Consortium International Limited
Far East Consortium International Limited ("FEC", together with its subsidiaries, the "Group") has been listed on the Hong Kong Stock Exchange since 1972 (HKEx Stock code: 35.HK). The Group is mainly engaged in property development, property investment, hotel operations and management, car park operations and facilities management, gaming and related operations, securities and financial product investments and provision of mortgage services. The Group adopts the diversified regional strategy and the "Asian Wallet" strategy with business covering Hong Kong, Chinese Mainland, Australia, New Zealand, Malaysia, Singapore, the United Kingdom and other European countries.
| FEC official website: www.fecil.com.hk | FEC WeChat and Weibo: http://www.weibo.com/u/5703712831  |
| For further information, please contact: | |
| Far East Consortium International Limited | Strategic Financial Relations Limited |
| Media enquiries: | |
| Ms. Toby Chan | Ms. Mandy Go / Ms. Mel Lai |
| Contact Number: (852) 2850 0635 | Contact Number: (852) 2864 4812 / (852) 2864 4855 |
| Email: pr@fecil.com.hk | Email: sprg_fareastconsortium@sprg.com.hk |
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