In 2018, Lion Industries entered into an agreement to acquire the assets of Megasteel Sdn Bhd in an attempt to pay off the latter's debts. In 2010, Cheng acquired 33.5 million shares in Lion Industries Corp Bhd, one of the group's subsidiaries. The group has offices in Malaysia, Singapore, Indonesia, Vietnam, Cambodia, Sri Lanka, the United States and Mexico. Lion also has 26 Parkson department stores in Malaysia, 13 stores in China, and nine breweries in China.
Lion Group's key assets in Malaysia are two steel mills with a capacity of 3 million tons a year, a forest concession in Sabah that is four times the size of Singapore, and the Silverstone tyre making business. Currently there seems to be a trend where stocks in the Financial Services Finance and Insurance sector(s) are not very popular in this period. Between 19 they were also involved in a joint venture with the Nanjing Group, producing the SEAT Ibiza-based Nanjing Yuejin Soyat for the Chinese market. According to present data Lion Group Holding Ltd - ADRs LGHL shares and potentially its market environment have been in bearish cycle last 12 months (if exists). One of the group's biggest investments is Suzuki Assemblers Malaysia Sdn Bhd which manufactures Suzuki motorcycles for the Malaysian market.
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It became Malaysia's biggest steel manufacturer after winning a license from the government in 1978. Cheng's grandfather founded Lion as a small trading company in Singapore after leaving China in the 1920s. Lion Group Malaysia is headed by chairman and chief executive officer William Cheng.
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