New Silkroutes Group Limited Announces Trading under New Corporate Identity Reflecting Broader Business Commitment New Silkroutes Group Limited has the expertise to drive innovations needed to shape the future of its energy & technology portfolio on the backdrop of a changing investment landscape
SINGAPORE, 14 JUL 2015 – The Board of Directors of New Silkroutes Group Limited is pleased to announce the commencement of its trading under the new corporate identity of NEW SILKROUTES GROUP LIMITED (“NSG”) with effect from today.
Cai Sui Xin, Chairman of NSG, is pleased to announce a series of significant changes in the company beginning with the change of name to better reflect the broader business commitment of the company and the earlier appointment of new and experienced board members.
Dr. Goh Jin Hian was appointed Chief Executive Officer on 7 July 2015, after having been appointed a member of the Board of Directors effective 7 Jul 2015. Dr. Goh currently holds the position of Managing Director in NSG’s wholly-owned Energy division, International Energy Group Pte Ltd (IEG). Since joining IEG, Dr. Goh has spearheaded major strategy and technical shifts across the company’s energy portfolio of products and services, most notably the company’s move to include power generation in its existing oil & gas trading portfolio.
During this time of transformation, there is no better person than Jin (Hian) to lead the company, said Cai Sui Xin, New Silkroutes Group’s Chairman of the Board of Directors. Jin is a proven leader with hard-core management skills, business vision and the ability to bring people together. His vision on how energy and technology will be used and experienced by the public is significant as the (New Silkroutes) Group enters its next chapter of innovation and growth.
In addition to Dr. Goh, NSG’s new board members effective 24 June 2015 consists of Ho Sheng, Lead Independent Director of Cordlife Group Limited and Independent Director of Ying Li International Real Estate Limited; Vivien Chen-Chou, Managing Director of Fortuna Navigation Co. Ltd. and Non-Executive Director of Agritrade Resources Ltd. (HKSE read-code: 1131), and Kelvyn Oo, Partner of Pinsent Masons MPillay LLP and Independent Director of Teho International Inc. Ltd. With their addition to the board, Ms. Chou was appointed a member of the Audit and Nominating Committees, while Mr. Ho and Mr. Oo now chair the Nominating Committee and the Remuneration Committee respectively; Mr. Frank Yu remains as Chairman of the Audit Committee.
Dr. Goh explains, The EU-Singapore FTA (EUSFTA), the Chinese strategic initiatives, 21st Century Maritime Silk Road and the Asian Infrastructure Investment Bank, all have significant impact on the changing global landscape. The term Silk Road was coined by Ferdinand von Richthofen, an eminent German geographer in 1877 but the academia prefer the term “Silk Routes” because the road included an extensive network of routes. New Silkroutes was chosen as we wanted a corporate identity to better reflect our ambitions: trade on the ancient Silk Road was a significant factor in the development of the civilizations of China, the Indian subcontinent, Persia, Europe and Arabia, opening long-distance political and economic interactions between the civilizations. Though silk was the major produce from China, many other goods were traded along the Silk Routes. Perhaps most important was the exchange of ideas, cultures, philosophies, resources and technologies. Our management hopes to embrace this spirit of the glorious past as we align ourselves towards the future.
On 18 May 2015, IEG via its newly incorporated wholly-owned subsidiary, New Silkroutes Group (Europe) Limited, entered into a joint venture with Malta Enterprise Corporation, with the intention of developing the Republic of Malta into a trading hub for energy products between Europe and Asia.
The new CEO emphasizes: We are an investment company with portfolios in energy and technology; our Energy division International Energy Group has the best-in-class trading system and is developing resources in power generation, while our technology team is at the forefront of (digital) security, communications, analytics, and the cloud which we envision will be the core challenges as we progress into a 5th Generation global regime of the Internet of Things (IoT). Going forward, we will focus on the development of new products and new markets, and bring our capabilities, policies and capital to places and people who need it.
NSG plans to increase its allocation of RMB-denominated trades across its energy and technology portfolios in its key target regions, including port cities of China, ASEAN, EU and South Africa.
About New Silkroutes Group Limited
New Silkroutes Group Limited is a Singapore incorporated company listed on the main board of Singapore Exchange Securities Trading Ltd. The company is principally in the business of oil & gas trading, power generation, enterprise info-communication system integration, network security and the marketing, sale and distribution of electronic and information technology products.
For further information, please contact:
New Silkroutes Group Limited
c/o Michael Tan Tel : +65 6227 7790 / +65 9687 8783 Email: email@example.com