New Silkroutes   

Tranforming to be a Healthcare Stock.. Good or Bad

Who are they that is not accountable? Minority shareholders are the big losses in this counter..... maybe losing all.
Hopefully SGX do not delist the counter and also the company can get all these issues sort out. Otherwise what will Ontario react, can they withdraw the plan? 

 

https://links.sgx.com/1.0.0/corporate-announcements/682B156UM2E2U279/47706ff31a0ffade630e8d140b06f98662d5e77c0033b04cecf3e23349b07596

New announcements, the doctors are filing to high court, some businesses are going into JM, i wonder what wil happen then? i wonder what will happen to the dental and TCM

You think the stock will be relisted after so much drama?
SGX may delist this counter since there is so mush history and so much debts. The old management really power. Go google, all found new high profile jobs.

 

As you suspected, deal did not go through....General Announcement::Expiry of long-stop date for the proposed disposal of dental clinics by indirect subsidiaries (sgx.com). Now what next? Will the white knight suceed? The game is not over, far from it, Mr. Han.

lazybo777      ( Date: 23-Nov-2022 01:25) Posted: No announcement for completion for dental clinics and TCM. I guess it will not complete as usual. Nothing gets completed by NSG. Only alot of announcements. If they cannot even clear the sale of these assets, we can forget about even resuming trading. The white Knight also cannot make it. Laggard      ( Date: 06-Oct-2022 11:35) Posted: Starting of the restructuring. When they going to resume trading so existing shareholders can off load the counter? The new shareholders is coming in at 8~9 cents, so cheap for them compare to cost of existing shareholders. I suppose more dilution is on the way with the plan to have THEIR " Quality Asset" injected as new business to NSG since now they are killing all the gooses now. Another haircut for existing shareholders coming up

 

Letter of demand from the medical doctors. The deal from selling the dental clinic and TCM also no news. What is happening? Need to ask at the AGM but no AGM announced also.

https://links.sgx.com/1.0.0/corporate-announcements/MTBO9CS85O9OE56N/0504751e0ea62205875529d3bcdd5f115561844a26f2c95a4d683c55c4ca9dc8

 

No announcement for completion for dental clinics and TCM. I guess it will not complete as usual. Nothing gets completed by NSG. Only alot of announcements. If they cannot even clear the sale of these assets, we can forget about even resuming trading. The white Knight also cannot make it.

Laggard      ( Date: 06-Oct-2022 11:35) Posted: Starting of the restructuring. When they going to resume trading so existing shareholders can off load the counter? The new shareholders is coming in at 8~9 cents, so cheap for them compare to cost of existing shareholders. I suppose more dilution is on the way with the plan to have THEIR " Quality Asset" injected as new business to NSG since now they are killing all the gooses now. Another haircut for existing shareholders coming up. Joelton      ( Date: 04-Oct-2022 08:35) Posted: New Silkroutes Group units agree to sell dental businesses to Quantum Healthcare for S$4.5 million   MAINBOARD-LISTED New Silkroutes Group&rsquo s indirect subsidiaries have agreed to sell their stake in six dental clinics and a company to The Dental Hub, a 60 per cent-owned indirect subsidiary of the Catalist-listed Quantum Healthcare, for S$4.45 million.   In separate bourse filings, the companies disclosed that the parties have entered into an agreement to transfer ownership of the clinics &ndash all branches already bearing the name The Dental Hub &ndash and Dentaltrendz on Monday (Oct 3).   Dentaltrendz provides human resources and administrative services. The clinics are the ones located in Alexandra, Bedok, Boon Lay, Telok Blangah, West Coast and Yew Tee.   New Silkroutes Group owns a company that holds 81.28 per cent of the total issued and paid-up capital of Healthsciences International, which owns HSI Dental.    HSI Dental, in turn, holds 70 per cent of the total issued and paid-up capital of Dentaltrendz and six other companies that operate the six clinics. Dental practitioner Keith Alan Liew owns the other 30 per cent.   New Silkroutes Group said it is currently in consultation with Singapore Exchange Securities Trading to understand if shareholders&rsquo approval is required for the proposed transaction.   But it meanwhile stated that the move is part of a business transition into new businesses that can &ldquo enhance income streams&rdquo .   &ldquo The proposed transaction will streamline the group&rsquo s operations and facilitate the group diversification into new businesses,&rdquo it said, adding that its board is of the view that the sale is in the best interest of the company and its shareholders.   Quantum Healthcare, meanwhile, said the deal is related to the announcement made by QT Vascular on Jun 19. At that time, QT Vascular said it is in advanced negotiations to acquire shares in certain dental businesses.   QT Vascular, which had its shares delisted on Jul 29, has since become a wholly-owned subsidiary of Quantum Healthcare.   Quantum Healthcare added that the S$4.45 million consideration was arrived at after negotiations on an arm&rsquo s length and a willing-buyer and willing-seller basis.   It took into account the value of the vendors&rsquo business with reference to the unaudited pro forma combined gross revenue of about S$3.6 million and profit before tax of S$435,000 for the financial period between Jul 1, 2021 and Mar 31, 2022.   The agreement was also arrived at after considering the businesses&rsquo valuations, which ranged from S$4.9 million to S$5.5 million as at Jun 30, 2021.   Quantum Healthcare said a substantial portion of the consideration will be funded through external financing to be obtained from a bank.

 

Starting of the restructuring. When they going to resume trading so existing shareholders can off load the counter? The new shareholders is coming in at 8~9 cents, so cheap for them compare to cost of existing shareholders.
I suppose more dilution is on the way with the plan to have THEIR " Quality Asset" injected as new business to NSG since now they are killing all the gooses now. Another haircut for existing shareholders coming up.

Joelton      ( Date: 04-Oct-2022 08:35) Posted: New Silkroutes Group units agree to sell dental businesses to Quantum Healthcare for S$4.5 million   MAINBOARD-LISTED New Silkroutes Group&rsquo s indirect subsidiaries have agreed to sell their stake in six dental clinics and a company to The Dental Hub, a 60 per cent-owned indirect subsidiary of the Catalist-listed Quantum Healthcare, for S$4.45 million.   In separate bourse filings, the companies disclosed that the parties have entered into an agreement to transfer ownership of the clinics &ndash all branches already bearing the name The Dental Hub &ndash and Dentaltrendz on Monday (Oct 3).   Dentaltrendz provides human resources and administrative services. The clinics are the ones located in Alexandra, Bedok, Boon Lay, Telok Blangah, West Coast and Yew Tee.   New Silkroutes Group owns a company that holds 81.28 per cent of the total issued and paid-up capital of Healthsciences International, which owns HSI Dental.    HSI Dental, in turn, holds 70 per cent of the total issued and paid-up capital of Dentaltrendz and six other companies that operate the six clinics. Dental practitioner Keith Alan Liew owns the other 30 per cent.   New Silkroutes Group said it is currently in consultation with Singapore Exchange Securities Trading to understand if shareholders&rsquo approval is required for the proposed transaction.   But it meanwhile stated that the move is part of a business transition into new businesses that can &ldquo enhance income streams&rdquo .   &ldquo The proposed transaction will streamline the group&rsquo s operations and facilitate the group diversification into new businesses,&rdquo it said, adding that its board is of the view that the sale is in the best interest of the company and its shareholders.   Quantum Healthcare, meanwhile, said the deal is related to the announcement made by QT Vascular on Jun 19. At that time, QT Vascular said it is in advanced negotiations to acquire shares in certain dental businesses.   QT Vascular, which had its shares delisted on Jul 29, has since become a wholly-owned subsidiary of Quantum Healthcare.   Quantum Healthcare added that the S$4.45 million consideration was arrived at after negotiations on an arm&rsquo s length and a willing-buyer and willing-seller basis.   It took into account the value of the vendors&rsquo business with reference to the unaudited pro forma combined gross revenue of about S$3.6 million and profit before tax of S$435,000 for the financial period between Jul 1, 2021 and Mar 31, 2022.   The agreement was also arrived at after considering the businesses&rsquo valuations, which ranged from S$4.9 million to S$5.5 million as at Jun 30, 2021.   Quantum Healthcare said a substantial portion of the consideration will be funded through external financing to be obtained from a bank.

 

 

New Silkroutes Group appoints Han Binke as CEO on 10 August. Dr VicPearly Wong steps down following successful debt restructuring. ☆ 》 Canadian company Ontario will become NSG controlling shareholder upon completion of debt to equity deal, scheduled for completion on 30 SEPTEMBER. Ontario to inject S$1.3 million in cash as working capital loan. ☆ 》 At a future date, Ontario will also inject high quality assets including those in energy, minerals, logistics, commodity and commercial real estate.

Laggard      ( Date: 17-Aug-2022 14:53) Posted: New Silkroutes Group appoints Han Binke as CEO on 10 August Dr VicPearly Wong steps down following successful debt restructuring &bull Canadian company Ontario will become NSG&rsquo s controlling shareholder upon completion of debt to equity deal, scheduled for completion on 30 September &bull Ontario to inject S$1.3 million in cash as working capital loan &bull At a future date, Ontario will also inject high quality assets including those in energy, minerals, logistics, commodity and commercial real estat After assuming debt and provided/injected working capital, Ontario will own 70% after that they plan inject more asset as shows above. What are the possible ways to do these injection since they already huge majority of company.  Anyone can share?

 

Totally agree with you . The shareholders are paying and financing all the mistakes made by the management. I have a seven digit position on this counter . Now not even enough to buy a COE for a car. Really pissed. Never seen such a company run so badly. It takes a lot of skill to run the company so bad. The board is also complicit to this . At this stage, i rather have a total lost on my investments and spark an investigation on any possible wrongdoing.

Laggard      ( Date: 11-Aug-2022 14:32) Posted: Total overhaul. Leadership change, business likely to be big change too. New CEO is from different field no more a healthcare company I guess. 3rd or 4th times changing their business with share placement.... what is SGX thinking to allow it? It continue to dilute existing shareholder and value. https://links.sgx.com/1.0.0/corporate-announcements/K1F3D9MUWYOHXL2G/727673_Media%20release_NSG%20appoints%20new%20CEO%20Dr%20VicPearly%20Wong%20steps%20down_10%20Aug%202022.final.pdf

 

New Silkroutes Group appoints Han Binke as CEO on 10 August Dr VicPearly Wong steps down following successful debt restructuring
&bull Canadian company Ontario will become NSG&rsquo s controlling shareholder upon completion of debt to equity deal, scheduled for completion on 30 September
&bull Ontario to inject S$1.3 million in cash as working capital loan
&bull At a future date, Ontario will also inject high quality assets including those in energy, minerals, logistics, commodity and commercial real estat

After assuming debt and provided/injected working capital, Ontario will own 70% after that they plan inject more asset as shows above. What are the possible ways to do these injection since they already huge majority of company.  Anyone can share?

 

Total overhaul.
Leadership change, business likely to be big change too. New CEO is from different field no more a healthcare company I guess.
3rd or 4th times changing their business with share placement.... what is SGX thinking to allow it? It continue to dilute existing shareholder and value.

https://links.sgx.com/1.0.0/corporate-announcements/K1F3D9MUWYOHXL2G/727673_Media%20release_NSG%20appoints%20new%20CEO%20Dr%20VicPearly%20Wong%20steps%20down_10%20Aug%202022.final.pdf

 

I view this as a positive news. If not next alternative is going bankrupt and shareholders end up with nothing. Hope the new player sees value and builds on the business. They seem legtimate compared to the previous management comprised of clowns.The next AGM we should bring up to the board to look into any wrongdoing from the previous management. They should be allowed to get off scot free with no accountability. I am sure the press will be interested as it involved the previous PM son. Maybe we should also inform the press.

 

A lifeline coming in for this sick baby? Good or bad news? I think with the status today very little choice.
Shareholders need to take a huge haircut if voting for, what a value destruction. https://links.sgx.com/1.0.0/corporate-announcements/0ALTYMBBNXJRT4JY/874fee6359ece154693124a466744b0389e47740458bc6bcd698a45d68c44ea9

 

The previous management really screw things up. Even if the back mountain very strong , what you are suggesting is nepotism. No wonder they were investigated by CAD. The CAD also no sound. Like the investigation just died. lets see how the suspension is lifted if not we better alert the authorities or the press. Something is fishy. Is there any share price manipulation to 1 dollar then it crash? who knows . After so many acquisitions, still losing money . Who is siphoning the money? Dont make any sense.  Either there is severe mismanagement or sommething criminal. SGX and SIAS should conduct an investigation. Something dorghy going around. 

 

This one, I kena blue black.
Fingers crossed maybe can recover something, otherwise complete write-off.

 

difficult lah, back mountain very strong.

lazybo777      ( Date: 25-Jan-2022 17:13) Posted: The suspension is taking very long. It seems the previous management really screw things up. What a bunch of clowns. No respect for shareholders equity whatsoever. So many bad decisions made with zero accountability, I mean SGX is really sleeping. SGX should police such companies and take to task errant managements. Even a blind know knows that this company was mismanaged so badly.

 

The suspension is taking very long. It seems the previous management really screw things up. What a bunch of clowns. No respect for shareholders equity whatsoever. So many bad decisions made with zero accountability, I mean SGX is really sleeping. SGX should police such companies and take to task errant managements. Even a blind know knows that this company was mismanaged so badly.

 

The focus now Going Concern.
I believe the  AI story will not help if they cannot find a way out this round. This suspension may not come out if they cannot a way to structure their debt. Looks very much like a gone case.

 

What happen to the AI story? exCEO going back to healthcare?

pratagosong      ( Date: 08-Mar-2021 14:06) Posted: Yes, same old story. Surprised SGX allow that quality of response to be released. Ended with big disclaimer on BT article after selling shares for almost 2 months. Debts owed by ex-director company and never pay (who?), prepayment for vessel is most likely gone with liquidation in process, cash probably stuck in PRC not earning interest and cannot use that' s why need bridging loan (SGX should have asked them to indicate where are the cash held and why they need to borrow when they have so much cash). Bridging loan cannot repay how? And the big question is WHY IS BRIDGING LOAN  NON-CURRENT??? put 10m cash with no interest and take bridging loan at xx%?  100% cap raise coming the way they worded the response. Why SGX never ask them to present continuing and discontinued operations in their income statement since the plan to divest is already announced in December 2020???? Like that can see if healthcare is really profitable. Not audited so CFO act blur or really not required to present? You have to pray for a white knight to appear to agree to put in money above 10cents. Tread carefully and hope you make money.  DYDD.

 

https://links.sgx.com/FileOpen/NSG%20annct%20-%20Voluntary%20Trading%20Suspension.final.ashx?App=Announcement& FileID=691156
​
The Company will be appointing a financial consultant to, inter alia, undertake a review of the Company&rsquo s existing businesses and financials and to assist the Group with any debt restructuring and plans to improve the financial position and/or performance of the Group.

Accordingly, the Company also wishes to announce that it has requested for a voluntary suspension of the trading of its shares and related securities with immediate effect. The Company wishes to emphasise that this is a voluntary suspension pursuant to Rule 1302 of the Singapore Exchange Securities Trading Limited Listing Manual. The Company will seek to lift the trading suspension as soon as it is appropriate to do so without compromising the interests of all stakeholder groups.

lazybo777      ( Date: 18-Nov-2021 12:18) Posted: Anyone knows what is going on? Company is voluntary suspended Good or bad news?