Hot stock: New Silkroutes opens trading at 0.1 Singapore cent

NEW Silkroutes Group - formerly known as Digiland - on Tuesday requested to lift its trading halt, after announcing on Monday that Malta's Ministry of Energy and Health has become a new shareholder of IEG Malta.

IEG Malta is a joint venture set up by New Silkroutes Group's subsidiary International Energy Group (IEG) and the Maltese government to transform Malta into an oil and gas trading hub in the Mediterranean.

New Silkroutes also announced the change of ownership of New Silkroutes Group (Europe) from International Energy Group Pte Ltd (IEGPL) to the group. It said the group intends to acquire all the issued and paid-up share capital of New Silkroutes Group (Europe) from IEGPL. New Silkroutes said its investment in IEG Malta Limited will be funded by internal resources.

New Silkroutes Group opened trading at 0.1 Singapore cent.