Delong unveils plan to go into investment business

Singapore

DELONG Holdings, whose core business is the manufacture and sale of hot-rolled steel coil, has proposed to diversify into the investment business.

For a start, it plans to invest 60 million yuan (S$12.2 million) for a 2 per cent stake in China clothing design firm Qingdao Kutesmart Co Ltd.

In its Tuesday announcement, China-based Delong said that the proposed investment business covers investing in companies and other entities and providing seed and mezzanine capital to private companies with growth potential. Investments will not be restricted to any specific business sector, industry or geographical marke…