Shougang Forms Strategic Joint Venture in Singapore

Shougang Concord Century Holding Ltd. (HK:0103) has released an update.

Shougang Concord Century Holdings Ltd. has entered into a 50-50 joint venture with RZHL, a company connected to an executive director of Shougang, establishing a new entity in Singapore with a shared capital of USD 2.8 million. This transaction is significant enough to warrant reporting and announcement but does not require the approval of independent shareholders. The joint venture will operate independently and its financial results will not be consolidated with Shougang’s group accounts.

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