Singapore: Chinese shipyard Yangzijiang Shipbuilding continues to diversify without making any further public comment on its potential takeover of Rongsheng’s shipyard facilities.
The Singapore-listed yard has subscribed for 30% equity interests respectively in the capital of Zhuhai Leading Power Asset Management (ZLPAM) and Zhuhai Interconnect Leading High-Tech Industrial Investment Center (ZILHT) for RMB15m and RMB90m respectively, thereby making the pair associates of the company.
The core business of ZLPAM is related to project investment and asset management with a total share capital of up to RMB50m. “This investment is expected to enhance the management’s expertise in cash redeployment,” Yangzijiang said in a release.
ZILHT is an equity venture capital investment fund.
Yangzijiang has been strongly linked with taking over troubled Rongsheng’s shipbuilding assets but is still refusing to confirm the deal.