SINGAPORE (Oct 1): After its plans to go into asset management unravelled, New Silkroutes Group (NSG) turned its attention to becoming a healthcare player via a series of acquisitions and joint ventures.
As the market awaits meaningful contributions from these new healthcare ventures to come in, shares in the company have been declining steadily. Dr Goh Jin Hian, its CEO, has been increasing his stake in the company with a series of purchases from the open market over the past few months.
The most recent purchase, according to SGX filings, was made on Sept 24. Goh, a medical doctor, bought 1,100 shares at an average of just over 25.5 cents each. On Aug 29, the company announced its third consecutive year of losses. Since then, Goh has made at least four rounds of purchases. He paid between 25.5 cents and 26.5 cents for the total of 160,100 shares bought during that period. He now holds just over 6.2 million shares, or 3.803% of the company. Year to date, NSG shares have dropped 10.53% to close at 25.5 cents on Sept 26.