SINGAPORE (Aug 29): New Silkroutes Group (NSG), the investment holding company with exposure to the financial, energy, healthcare and real estate sectors, reported FY17 losses narrowed by 47% to US$1.79 million ($2.4 million) from US$3.4 million in FY16.

Group revenue for FY17 surged eight-fold to US$433.0 million from US$54.3 million last year, on higher value and volume of transactions handled by its oil trading subsidiary International Energy Group (IEG).

IEG reported revenue of US$432.3 million in FY17 more than the US$400 million it projected in May 2017 and up from US$49.6 million in FY16.

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