New Silkroutes Group appoints two executive directors for energy unit

It now has 3 executive directors to the board.

In a move to further accelerate growth at one of the fastest-rising oil trading companies in Asia, NSG has added two executive directors to the board of International Energy Group (IEG).

With the appointment of Ms Cai Suirong and Mr Nelson Goh Kok Liang, IEG now has three executive directors, including Dr Goh Jin Hian, NSG's Group CEO.

Ms Cai, who joined IEG on 20 September 2016, is the Vice Chairman of General Nice Resources (Hong Kong) Limited, which is part of General Nice Group Limited, a major coal and iron ore trader in China. She is also the sister of NSG's Chairman, Mr Cai Sui Xin, who founded General Nice Group.

Mr Nelson Goh, who assumed the role on 17 October 2016, began his career in 2000 at the Singapore Land Authority, working on national policies, organisational development and strategic planning. He joined Raffles Holdings in 2004, before moving to CapitaLand, where he was responsible for the developer's business planning, performance management and competitive intelligence.

He joined Singapore-based Hin Leong Trading Pte Ltd, one of the largest independent oil traders in the region, in 2009 as general manager of business development. He went on to PetroSingapore Holdings Pte Ltd in November 2015 to incubate energy-related investment projects.

"We are strengthening the leadership team for our oil and gas business in anticipation of stronger growth in the coming years. As we have stated, IEG's longer-term plans involve not only trading oil products but also operating oil storage facilities. This will allow IEG to blend and sell products with higher margins," said Dr Goh.

"The MoU with CSEMC will open doors for us into China's energy market. As one of the world's largest energy consumers, China offers a lot of growth potential to IEG," Dr Goh added. Further afield, IEG has a joint venture with the government of Malta to develop the Southern European island into an energy trading hub between Europe and Asia.

NSG exited the SGX Watchlist in November 2014 and is morphing into an investment holding company with businesses in investment management, energy and resources, healthcare, and infocomm technology.

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