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New Silkroutes up 8% on private equity joint venture

INVESTMENT firm New Silkroutes Group, formerly Digiland International, is trading around 8 per cent higher after announcing a private equity joint venture with three other parties.

The joint venture will develop private equity funds that will focus on healthcare and infrastructure in the Asia-Pacific region, including Japan and Australia.

The Singapore-incorporated joint venture is owned 30 per cent by subsidiary New Silkroutes Capital, 30 per cent by the Singapore unit of Chinese conglomerate Nanshan Group, 30 per cent by former UOB banker Terence Ong Sea Eng, and 10 per cent by Fuji Capital.

As at 11.56am, the company was trading at S$0.825, up six cents or 7.8 per cent.