---
title: "DRAGON RAY HOLDING LIMITED — Ownership Dossier"
canonical: https://whiteintel.dev/entity/c2428a4f-6d13-5f10-bcce-97d4f96ff201
json: https://whiteintel.dev/api/public/dossier/c2428a4f-6d13-5f10-bcce-97d4f96ff201
identifier: icij:icijol-173194
jurisdiction: WS
risk: High
source: WhiteIntel corporate-ownership graph
---

# DRAGON RAY HOLDING LIMITED

**Type:** Company  
**Jurisdiction:** WS  
**Identifier:** `icij:icijol-173194`  
**Risk level:** High  
**Canonical dossier:** https://whiteintel.dev/entity/c2428a4f-6d13-5f10-bcce-97d4f96ff201  
**Structured JSON / MCP:** https://whiteintel.dev/api/public/dossier/c2428a4f-6d13-5f10-bcce-97d4f96ff201  

## Ownership & control

### Owners / controllers

- **Liu Zhang Wan** (shareholder of) — https://whiteintel.dev/entity/c518dc69-f7b7-5cd8-a344-dcbcc4d0bd39
- **Fung Shing Development Limited** (shareholder of) — https://whiteintel.dev/entity/05467754-53dc-59f8-8fb4-13ad13a983b4
- **Jin Shin Holdings Limited** (shareholder of) — https://whiteintel.dev/entity/562cbabd-936e-5af5-b0d3-7927c50b4331
- **Portcullis TrustNet (Samoa) Limited** (shareholder of) — https://whiteintel.dev/entity/4be6a0d9-dbc6-5010-8e4f-af054f26fda9

### UBO chain (walk to the ultimate owner)

A **10-step** ownership/control chain to the ultimate beneficial owner is resolved for this entity. The full cited chain unlocks with a paid API key or a one-off dossier — https://whiteintel.dev/pricing.

## Exposure (derived from the ownership graph)

**5** owners upstream in this entity's ownership/control chain are flagged — a sanctions hit or a secrecy jurisdiction — an investigative lead by resolved identity, not a legal determination. The contributing parties and the hop-by-hop path unlock with a paid API key or a one-off dossier — https://whiteintel.dev/pricing.

## Provenance

- ICIJ Offshore Leaks — https://offshoreleaks.icij.org/nodes/173194

---

_This is the markdown-for-agents view of the WhiteIntel dossier for **DRAGON RAY HOLDING LIMITED**. Human view: https://whiteintel.dev/entity/c2428a4f-6d13-5f10-bcce-97d4f96ff201 · Structured JSON: https://whiteintel.dev/api/public/dossier/c2428a4f-6d13-5f10-bcce-97d4f96ff201._

_Risk levels are heuristic investigative leads, not legal determinations of beneficial ownership. Every claim carries a source; an absent edge means "not yet observed in current sources", not "does not exist"._