Press Release 3QFY2018

New Silkroutes Group Posts Second Consecutive Quarter of
Profitability and Ms Luna Lee joins the Group as Chief Executive
Officer for its Healthcare Division
• Focus on energy and healthcare continues to bear fruit with positive second
quarter in a row
• NSG on track to grow Healthcare Sector further through acquisitions and
strategic investments
• Ms Luna Lee, senior healthcare executive, comes onboard as Chief Executive
Officer of Healthsciences International to grow healthcare business
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Singapore – 9 May 2018. SGX Mainboard-listed investment holding company, New
Silkroutes Group Limited (“NSG”, or together with its subsidiaries the “Group”), today
announced it has posted a second consecutive quarter of profit for the three months ending
31 March 2018.
NSG achieved a turnaround in December 2017 when it reported its first quarterly profit in three
years.
NEW SILKROUTES GROUP LIMITED |
新丝路集团有限公司
4
56
Alexandra Road, #
19
-0
2
Fragrance Empire Building, Singapore 119962
T +65 6377 0100 F +65 6377 0600 www.newsilkroutes.org Company Registration No. 199400571K
The Group made a net profit of US$140,000 in the third quarter ended 31 March 2018
(“3QFY2018”) reversing a loss of US$348,000 in the same period a year ago (“3QFY2017”).
The gains are driven by profits from its core healthcare and oil trading businesses.
Dr Goh Jin Hian, NSG’s Chief Executive Officer, said: “Our transformation strategy to focus
on our core competencies in healthcare and energy is bearing fruit. We expect our healthcare
division to contribute even more significantly to our profitability as we grow through a mix of
strategic acquisitions and organic expansion, both locally and regionally. We also expect to
secure our first hospital management contract shortly.
To this end, we have brought onboard Ms Luna Lee as the CEO of Healthsciences
International. I have previously worked with her and I am confident that her rich experience in
private hospital development and management, as well as her operational experience in the
public primary care sector, will be valuable to strategize and execute the healthcare business.”
Healthsciences International
NSG entered the healthcare business through the acquisition of a Singapore-based
healthcare arm, Healthsciences International Pte. Ltd. (“HSI”) in December 2016. Since then,
the Group’s healthcare sector has expanded rapidly through the acquisition of six dental clinics
and two dental supplies companies in July 2017 and an additional three dental clinics in
November 2017.
HSI recorded a net profit of US$120,000 on revenue of US$1.72 million in 3QFY2018.
In addition to the nine dental clinics and two dental supplies companies, HSI also has two
TCM clinics in Singapore.
International Energy Group
NSG’s oil trading subsidiaries, International Energy Group Pte Ltd and IEG Malta Limited,
reported a combined net profit US$640,000 on revenue of US$162.68 million in 3QFY2018, a
jump of 30% on the revenue posted the same quarter last year. The rise in the revenue was
mainly due to an increase in oil trading activities and logistic capacities.
NEW SILKROUTES GROUP LIMITED |
新丝路集团有限公司
4
56
Alexandra Road, #
19
-0
2
Fragrance Empire Building, Singapore 119962
T +65 6377 0100 F +65 6377 0600 www.newsilkroutes.org Company Registration No. 199400571K
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.