New Silkroutes Group (formerly: Digiland International)

[CityFarmer]

Renamed to New Silkroute.

Thread name changed and moved to respective sub-forum.

Thanks

Regards
Moderator

[corydorus]

To Skin another layer or truly there is a change that re-kindle the business ?
Can't MAS do something to SGX on this counter. It has deteriorate into "virtual gambling den". Simply out of control.

[LionFlyer]

Goh Chok Tong's son now helming the company. Dun pray pray!

Vested since 2005. Best investment lesson ever! Everytime I look at my portfolio, it stands out as a stark reminder what NOT to do.

[corydorus]

Maybe there is some hope. Wish to all those vested !

[greengiraffe]

Digiland to accelerate revamp into energy company with new CEO
Jul 13, 20158:42 AM


[SINGAPORE] Digiland International, a loss-making computer distributor,
wants to accelerate its transformation into an oil and gas company with the
appointment of a new chief executive officer last week.


The mainboard-listed company, which is changing its name to New Silkroutes
Group Ltd on Tuesday, is aiming to boost its market value to as much as US
$150 million within a year to draw fund managers investing in small-cap
stocks, CEO Goh Jin Hian said. That's double Digiland's worth at Friday's
close.


Shareholders will be looking to Dr Goh, the son of Emeritus Senior Minister
Goh Chok Tong, Singapore's former prime minister, to turn Digiland's
fortunes around after losses in eight out of the past 10 years. The new CEO
also plans to broaden its business as an energy trader to an investor and
consultant on oil and gas storage projects for governments, as well as
power generation.


"At the end of the day, what do governments grapple with: they need energy
and the infrastructure, and to generate power," Dr Goh, 46, who left a
career as a doctor and senior manager of Parkway Holdings, Singapore's
biggest owner of private hospitals, in 2011 to enter the oil and gas
industry, said in an interview in Singapore.









The stock closed at 0.2 Singapore cents on Friday, far below the 20
Singapore cents minimum trading price required for shares on the the
mainboard starting next year. Dr Goh said he plans to consolidate the
shares to meet the requirement.


The computer distribution business may also be sold amid the
transformation, Dr Goh said, because "the retail tech business is not a
space we are keen on." Malta Partnership Digiland expanded into the energy
sector at the end of 2013, when it began trading marine gasoil. It forged a
partnership with the Maltese government in May to turn Malta into a trading
center for energy products.


The bigger step into the energy sector comes as oil prices drop. Oil capped
its steepest weekly loss since March as the International Energy Agency
forecast prices will need to fall further to curb excess supplies.


Dr Goh said he's not concerned about declining prices because he's not in
the oil supply business. Future expansion into energy will tap on
Singapore's free-trade agreements with countries in Asia and Europe.


Investments in energy storage and power generation are longer-term
businesses that may not yield significant profit contributions initially,
he said."They are strategic and important because they enable us to lock in
the supply and sale contracts for oil and gas," Dr Goh said. "This is how,
for a small company that is starting up, we believe we can compete with the
big boys." The company acquired Dr Goh's 80 per cent stake in an oil and
gas business in December for as much as US$7.6 million in bonds, which
could be converted to as much as 15 per cent of Digiland based on
performance targets.

[CityFarmer]

A significant trades of about 52 mil shares, or close to half a million S$...

(not vested)

SGX: 91 error trades in New Silkroutes shares
18 Dec 2015 09:00
By Kenneth Lim

SINGAPORE Exchange (SGX) declared 91 trades on Wednesday involving 52.3 million shares of New Silkroutes Group as "error trades" resulting from confusion over the recent consolidation of the company's shares, according to a statement by the market operator.

Market sources told The Business Times on Wednesday that more than 50 million shares of New Silkroutes, an energy, healthcare and technology company, had been matched at about 1.5 Singapore cents close to the opening bell.

That price was way below New Silkroutes' post-consolidation intraday high of 59.5 Singapore cents on Wednesday. The stock closed at 49 Singapore cents in its first day of trading following a 500-into-one share consolidation. On Tuesday, the stock closed at 0.1 Singapore cent.

"In reviewing the cases, SGX was satisfied these transactions were the result of genuine error on the investors' part, attributable to the recent consolidation of New Silkroutes shares, and that allowing the erroneous trades to stand would cause disproportionate harm including the settlement risk of failed trades of significant size," SGX said in a statement.
...
Source: Business Times

[crabcrab]

New Silkroutes ($0.98) - The next 'Ezyhealth to Wilmar' in the making??

New Silkroutes to launch $2b China-focused funds

BEIJING • Singapore investment firm, New Silkroutes Group, is set to launch two China-focused funds worth US$1.6 billion (S$2.2 billion) in total and is looking to expand its oil trading business with Chinese customers following a restructuring.

The former loss-making information technology firm repositioned itself last year as an investment company under new management led by Mr Goh Jin Hian, a former healthcare executive.

The group expects to obtain Singapore licences shortly for a US$600 million healthcare fund and another with a minimum size of US$1 billion focused on energy infrastructure, company executives told Reuters in an interview. "We're interested in allocating funds in infrastructure like oil storage or even a stake in a refinery," said Mr Goh, who is the chief executive officer.

Executives said seed funding of US$200 million for the healthcare fund has been agreed on with a private Chinese group involved in aluminium smelting and property.

New Silkroutes' energy business, the International Energy Group, currently contributes about 90 per cent of group turnover and is expected to generate revenue for the year ending June 2017 of US$225 million, up fourfold from a year earlier, they said.

The unit, which started as a gas oil and fuel oil trader, is branching into crude oil. This week, it appointed Mr Nelson Goh, previously of Singapore oil trading firm Hin Leong Group, as head of crude oil, adding to an oil products trader and coal trader.

The company aims to work with more Chinese customers, expanding trades in yuan, the Chinese currency, to attract new business in oil and coal, the executives said.

The firm intends to pre-sell oil cargoes to customers and receive payment in yuan in the form of 90-day letters of credits.

New Silkroutes reached a deal this week to work together with a unit of state-owned China Shipbuilding Industry Corp on oil procurement from the Middle East and as well as investing in storage facilities.

REUTERS

Source 
http://www.straitstimes.com/business/com...used-funds

[crabcrab]

New Silkroutes Group Signs MoU with Unit of Chinese Shipbuilder CSIC; Strengthens Leadership Team at Oil & Gas Unit as Growth Accelerates 

Singapore – 18 October 2016. New Silkroutes Group Limited (“NSG” or “the Group”) has signed a memorandum of understanding (“MoU”) with China Shipbuilding Industry Equipment and Materials Co Ltd (“CSEMC”) to procure crude oil and petroleum products for the stateowned capital goods supplier and to explore collaboration in China and Singapore. Beijing-headquartered CSEMC is part of China Shipbuilding Industry Corporation (“CSIC”), one of the country’s largest conglomerates. CSIC and its subsidiaries, which include Shanghai-listed China Shipbuilding Industry Co Ltd, build and repair an assortment of vessels, such as naval ships, tankers and container ships. They also manufacture diesel engines and marine equipment. CSEMC supplies raw materials such as steel, non-ferrous metals and coal to CSIC and its subsidiaries. CSEMC has more than 20 billion yuan (approximately US$3 billion) in assets and operates in major cities across China. Under the MoU, NSG’s wholly owned subsidiary International Energy Group (“IEG”) will seek to bring high-quality oil and petroleum products into China for CSEMC. On its part, CSEMC will provide the necessary support to help IEG realise its plans for managing and owning oil storage facilities. As part of the MoU, CSEMC will set up a company in Singapore to work with IEG. Singapore-based IEG is NSG’s biggest revenue driver. It expects to generate more than US$225 million in revenue by the end of NSG’s financial year ending 30 June 2017 (“FY2017”), up from US$49.6 million for FY2016. The expected increase will be driven by credit facilities worth US$110 million obtained from several international banks. These lines will increase IEG’s trade financing options and allow it to structure more profitable trades. IEG’s FY2017 revenue forecast assumes a monthly turnover of more than US$18 million. In a move to further accelerate growth at one of the fastest-rising oil trading companies in Asia, NSG has added two executive directors to the board of IEG. With the appointment of Ms Cai Suirong and Mr Nelson Goh Kok Liang, IEG now has three executive directors, including Dr Goh Jin Hian, NSG’s Group CEO. 

Ms Cai, who joined IEG on 20 September 2016, is the Vice Chairman of General Nice Resources (Hong Kong) Limited, which is part of General Nice Group Limited, a major coal and iron ore trader in China. She is also the sister of NSG’s Chairman, Mr Cai Sui Xin, who founded General Nice Group. Mr Nelson Goh, who assumed the role on 17 October 2016, began his career in 2000 at the Singapore Land Authority, working on national policies, organisational development and strategic planning. He joined Raffles Holdings in 2004, before moving to CapitaLand, where he was responsible for the developer’s business planning, performance management and competitive intelligence. He joined Singapore-based Hin Leong Trading Pte Ltd, one of the largest independent oil traders in the region, in 2009 as general manager of business development. He went on to PetroSingapore Holdings Pte Ltd in November 2015 to incubate energy-related investment projects. “We are strengthening the leadership team for our oil and gas business in anticipation of stronger growth in the coming years. As we have stated, IEG’s longer-term plans involve not only trading oil products but also operating oil storage facilities. This will allow IEG to blend and sell products with higher margins,” said Dr Goh. “The MoU with CSEMC will open doors for us into China’s energy market. As one of the world’s largest energy consumers, China offers a lot of growth potential to IEG,” Dr Goh added. Further afield, IEG has a joint venture with the government of Malta to develop the Southern European island into an energy trading hub between Europe and Asia. NSG exited the SGX Watchlist in November 2014 and is morphing into an investment holding company with businesses in investment management, energy and resources, healthcare, and infocomm technology. 

About New Silkroutes Group Limited 
New Silkroutes Group (Bloomberg: NSG SP) is a Singapore-incorporated company (established on 25 January 1994) listed on the Mainboard of Singapore Exchange Securities Trading Ltd (SGX). It is evolving into an investment holding company with core competencies in Capabilities Enablement, Capital Allocation, and (Policy) Analysis. The group, through its subsidiaries and associate companies, has exposure to key sector verticals, including Energy/Resources, Healthcare, and Infocomm Technology with a focus on Security & Governance.

Source
http://infopub.sgx.com/FileOpen/NSG%20MO...eID=425237