China Cofco to keep D'Long-linked ketchup flowing

Xinjiang Tunhe Investment Co, one of the leading members of the unraveling D'Long International Strategic Investment conglomerate, said China National Cereals, Oils & Foodstuffs Import & Export Corp would provide a loan to keep it going in the ketchup business. According to an announcement in the Shanghai Securities News, the state grain trader will lend up to RMB 400 million (US$48.2 million) to Tunhe Investment to keep the company in business. According to Tunhe officials, regulators have frozen RMB 2.36 billion of its assets and RMB 952.4 million in assets have been taken away as collateral, while the company still owes RMB 694.6 million on outstanding loans.