ASIA Securities International Limited (ASIL) is to expand into China and Southeast Asia, says chairman and chief executive Dai Xiaoming. Mr Dai was speaking about the firm's plans yesterday, after taking control of ASIL in November. Dan Form Group, of which Mr Dai is the managing director, acquired a controlling stake in ASIL for $1.1 billion. Mr Dai said the company would venture into some property-related businesses, such as infrastructure development and investment, and property-related securities trading. Before the acquisition, ASIL concentrated mainly on property investment and development, and securities investment and trading in Hong Kong. Mr Dai said after rationalisation, the company still would focus on property development and investment in Hong Kong as its principal business activity. It had yet to decide whether to divest itself of non-core businesses. The group had no borrowings, Mr Dai said, because the company did not have any new investment projects in hand. As ASIL was to explore investment opportunities, it would also study different channels to raise funds in case such an opportunity arose. He said the company would adopt a prudent attitude towards new investments. Asked if ASIL would inject equity in Dan Form Group's joint venture in the Xidan Redevelopment Project, Mr Dai said: 'As the largest shareholder of ASIL, we would consider any development projects that hold good prospects for the company.' Dan Form Group has a 60 per cent equity stake in the US$1 billion project, covering an area of 20.85 hectares, which will be the new Bank of China headquarters. It is the biggest project Dan Form Group has undertaken so far. Mr Dai said ASIL would study the Xidan Redevelopment Project along with any other potential investment projects. 'It's a huge development project,' he said. '[ASIL] has yet to decide whether to pour funds into it or not. We have to wait until the conditions are ripe.' Dan Form Group's core business is property development and investment spanning a number of major Chinese cities, the United States and Southeast Asia. Mr Dai attributed ASIL's 40 per cent drop in profit last year to $61.37 million, to reduced sales of properties and investments. He said the company would look into investment opportunities to engineer profit growth.