New Silkroutes (S$0.65): Surges 12% despite 4QFY16 net loss
- Announced this morning that it is on track to generate more than US$225m in revenue, a 4.5x jump from FY16's US$49.6m primarily due to its oil-trading business
- Growth to be debt-fueled. As at FY16, company in net cash position of ~US$3.5m
- Business to target buyers in Southeast Asia, North Asia, and Indian subcontinent.
- Started trading in China and Europe; to develop Malta into an energy trading hub between Asia and Europe.
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