CNT Security Company to wind down operations by April 2026: sources

The leading local licensed security company, CNT Security Company Limited, is reportedly set to cease operations by April next year, with liquidation proceedings underway.

According to a social media post on Monday (Jun 23), former Tsuen Wan district councillor Chiu Yan-loy shared a notice from the company regarding its board decision to cease operations before the end of the current fiscal year. 

The notice, dated June 20, stated that security services could not be extended until December 9 as requested.

Chiu noted that the security company is set to wind down its service at Tsuen Wan's Allway Gardens by September 10, and the owners' corporation has already initiated a tender process to engage a licensed security service provider to maintain normal operations at the estate.

Additionally, Chiu mentioned that the company has also begun resigning to other private estate, including  Quarry Bay's Kornhill Garden and Pok Fu Lam's Baguio Villa.

Citing insider information, Chiu revealed the company currently has no plans to sell or change the name of the business.

In response to Chiu's post, the Hong Kong Buildings Management and Security Workers General Union confirmed the liquidation of CNT Security and the gradual layoff of employees. 

The Union anticipated that approximately 2,000 workers would be affected and encouraged employees to reach out for assistance regarding severance pay.

However, in response to media inquiries, a staff member from CNT Security Company Limited simply stated no comment and advised the reporter to leave contact details for an interview.

Founded in 1986 and restructured in 1995 with new shareholders, CNT Security Group operates two wholly-owned subsidiaries, CNT Company and Onward Company, with over 2,000 staff.

According to the company website, Chairman and Chief Executive Officer Lee Lam-chuen previously served as a Senior Assistant Commissioner of Police, bringing 33 years of law enforcement experience to the role.