New Concept Technologies International, the new majority shareholder in Seaunion Holdings, plans to make the crude oil producer its entry point to Southeast Asian expansion. The listed Canadian oil producer became the single largest shareholder after buying 25.8 per cent of Seaunion earlier this month. Wong Chin-yong, chairman and chief executive officer of New Concept, said Seaunion was located in a dynamic area. 'It is one of two oil companies in Hong Kong and also one of five in Asia. 'It is a good entry point for us to enter the Indonesian market, which is our weakest point,' he said. He said Seaunion would diversify into Indonesia, Thailand and Vietnam. New Concept plans to halve the Seaunion board to six members.