New Silkroutes requests trading suspension

MAINBOARD-LISTED New Silkroutes Group (NSG) has called for a trading suspension before the market opened on Monday.

In a Singapore Exchange filing, the company, which has businesses in oil and gas trading, healthcare, financials and real estate, said that it is negotiating "certain acquisitions" and requires more time to complete negotiations.

"The company is requesting a voluntary suspension to prevent the leakage of material information and unusual trading activities in the company's shares during this period of negotiations," NSG said.

On Nov 29, NSG requested a trading halt pending the release of an announcement.

Earlier last month, the company said that it is expecting revenue of at least US$500 million for the 2018 fiscal year after turnover doubled while loss widened for the first fiscal quarter.

If the forecast is realised, revenue for fiscal 2018 would grow by at least 15 per cent over the US$433 million for 2017.