In November last year, Cheung Kong Property Holdings of Li Ka Shing, sold 75% of its equity interest in 99 Central Plaza, Queen's Road Central, to a Hong Kong-China joint venture consortium for an estimated HK $ 40.2 billion. The major shareholder of the buyer consortium is C.H.M.T. Peaceful Development Asia Property Ltd., the largest shareholder is China Energy Reserve and Chemical Group (CERCG), which accounts for 55% of the shares. However, according to Reuters and South China Morning Post, CERCG suddenly "gives-up" four months after signing the contract with the intention of withdrawing.