Corporate digest

Yangzijiang

YANGZIJIANG Shipbuilding (YZJ) has picked up a significant stake in an investment fund in China. It said after Friday trading close that its subsidiary, Jiangsu New Yangzi Shipbuilding Co Ltd, had subscribed to 30 per cent equity in the share capital of Jiangsu Nantong Yantai Emerging Investment Fund (Nantong Yantai). Nantong Yantai has an authorised share capital of up to 300 million yuan (S$61 million). The equity subscription will make Nantong Yantai, whose core business is related to industrial, venture and equity investments, an associate of YZJ. The new Chinese fund is focused on privately-owned SMEs in emerging industries such as energy conservation and environmental protection. The operating term of the fund is seven years.

Lung Kee (Bermuda)