MANDARIN Dragon Holdings has made an announcement declaring its nature of business and clarifying that it is unlikely to further invest in the entertainment business. Mr Cecil Ho, company secretary, refused to comment whether the company was asked to clarify its nature of business by the stock exchange. He said, ''We've explained everything in the notice.'' The company's core business is the distribution of pharmaceutical products, and it has announced a $15 million investment to set up a 50-50 joint venture company with Win's Music and Video Enterprises. There have been reports the company would further invest in the entertainment business and expand into the production and distribution of films, audio-visual media and related activity. In the announcement made last Thursday, Mandarin Dragon clarified that it intends to continue its core businesses of pharmaceuticals, and real estate development and investment. The directors of the company made it clear that the company had no intentionif changing its core businesses.