Press Release 2QFY2018 results
New Silkroutes Group Returns to Profitability in 2QFY2018
• First quarterly net profit in more than three years
• Healthcare and energy divisions responsible for NSG’s turnaround
• NSG to seek further growth through acquisitions
Singapore – 12 February 2018. New Silkroutes Group Limited (“NSG” or the “Group”)
has achieved its first quarterly net profit in more than three years, driven by its core
healthcare and oil trading businesses.
The mainboard-listed investment holding company made a net profit of
US$135,000 in the quarter ended 31 December 2017 (“2QFY2018”), reversing a loss
of US$343,000 in the same period a year earlier (“2QFY2017”). Prior to this, the
Group last registered a quarterly net profit in the period ended 30 September 2014.
NSG’s Singapore-based healthcare arm, Healthsciences International Pte Ltd
(“HSI”), posted earnings of US$75,000 on revenue of US$1.69 million in 2QFY2018.
NSG completed the acquisition of the healthcare company in December 2016.
NEW SILKROUTES GROUP LIMITED |
Headquarters: 456 Alexandra Road #19-02 Fragrance Empire Building Singapore 119962
T +65 6377 0100 F +65 6377 0600 www.newsilkroutes.org Company Registration No. 199400571K
HSI currently owns nine dental clinics and two dental supplies companies. It also
has two clinics that provide complementary integrative therapies based on
Western standards of medical care. In addition, HSI operates clinic and pharmacy
management systems in Singapore and China.
Having successfully integrated into its group structure the various healthcare
entities acquired over the last two years, NSG intends to further expand the
healthcare business through more acquisitions and strategic investments.
International Energy Group
NSG’s oil trading subsidiaries, International Energy Group Pte Ltd and IEG Malta
Limited, contributed combined earnings of US$610,000 in 2QFY2018, comparable
to the US$660,000 net profit they made a year earlier. Oil trading accounted for
the lion’s share of the Group’s 2QFY2018 revenue of US$185.47 million, which was
50% more than NSG’s total revenue in 2QFY2017.
The Group has suspended trading of its stock on the Singapore Exchange since 4
December 2017 to prevent any unusual share-price activity while negotiations on
potential transactions are ongoing but expect to lift the suspension shortly.
About New Silkroutes Group Limited
New Silkroutes Group (Reuters: NEWS.SI; Bloomberg: NSG SP) is a Singaporeincorporated
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, Healthcare and
Real Estate sectors.