SINGAPORE (Sept 24): Dr Goh Jin Hian, CEO of Mainboard-listed New Silkroutes Group, is quick to acknowledge that the company’s shareholders are “long-suffering”, having been though its ups and downs. NSG was formerly Digiland International, a consumer IT business that incurred several consecutive years of losses. Goh became CEO in 2015, after Digiland acquired International Energy Group (IEG), an oil and gas trading company that Goh started.

That move had generated a fair amount of interest then. Goh, a medical doctor, held senior roles at Parkway Holdings (now IHH Healthcare), including CEO of Gleneagles Hospital at one point. He has been an independent director of Cordlife Group since 2011. He is also the son of former prime minister Goh Chok Tong. By his account, he started IEG — which has nothing to do with healthcare — to try something new.

After renaming the company NSG, Goh and then executive director Lee Soek Shen set up business units in energy trading, fund management and healthcare. At the time, shareholders were optimistic. A rights-cum-warrants issue completed in March 2016 raised $4.72 million in net proceeds. NSG shares more than tripled towards the end of 2016 to breach the $1 mark, and the company announced US$69.3 million in revenue for 1QFY2017 ended Sept 30, the highest quarterly revenue since 2004.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook