Delong's arm launches Cambodian unit

Initial paid-up capital is US$1m.

According to a release, the Board of Directors of Delong Holding Limited announced that its wholly-owned subsidiary, Dexin Holdings Pte Ltd, has incorporated a wholly-owned subsidiary in Cambodia known as Dexin Holdings Pte Ltd.

The principal activities of Dexin Holdings Cambodia will be in the investment in steel-related projects and trading of steel and steel related products. The initial paid-up capital of Dexin Holdings Cambodia is US$1,000,000 and will be funded by internal resources.

The incorporation of Dexin Holdings Cambodia is not expected to have any material impact on the net tangible assets per share and earnings per share of the Company for the financial year ending 31 December 2012.