NSG Media Release 2QFY2019 Results
New Silkroutes’ healthcare division achieves 2QFY2019 net profit
of US$376,000, up 400%
• Revenue from healthcare division jumps 91% to US$3.2 million, benefiting from the robust foundation it has built, and is now poised for further growth
• Overall, the Group posted lower net profit of US$22,000 on revenue of US$130.1 million, due to fluctuations in oil prices which affected its oil trading business
Singapore – 13 February 2019 — SGX Mainboard-listed investment holding company, New Silkroutes Group Limited (“NSG”, or together with its subsidiaries the “Group”), today announced that the Group’s Healthcare subsidiary, Healthsciences International Pte. Ltd., has continued its nascent growth, with revenue jumping by 91% to US$3.2 million, boosted by contributions from the six GP clinics acquired on 2 August 2018. Consequently, Healthsciences International achieved a 401% surge in net profit to US$376,000 in the second quarter.
However, revenue from its oil trading subsidiaries, International Energy Group Pte Ltd and IEG
Malta Limited, declined by 31% to US$126.8 million, as a result of a sharp drop in oil prices during
the period. The combined net profit from the two subsidiaries was US$172,000 in 2QFY2019.
Overall, Group revenue in the second quarter decreased by 30% to US$130.1 million, with a net
profit of US$22,000.
Dr Goh Jin Hian, NSG’s Chief Executive Officer, said: “We are pleased that the Company has
turned the corner and we look forward to incorporating the contributions of our newly-acquired
healthcare consumables manufacturer, Shanghai Fengwei, from next quarter. Meanwhile, we are
continuing to explore projects in Singapore and the region, which will be accretive to our earnings
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This media release is to be read in conjunction with the Company’s announcement posted on the website
of the SGX-ST on 13 February 2019.
About New Silkroutes Group Limited
New Silkroutes Group (Reuters: NEWS.SI; Bloomberg: NSG SP) is a Singapore-incorporated
investment holding company listed on the Mainboard of Singapore Exchange Securities Trading
Ltd (SGX). The group, through its subsidiaries and associate companies, has businesses in the
Energy/Resources and Healthcare sectors.