SINGAPORE, January 26, 2021 – New Silkroutes Group Limited (NSG) and Huawei International have signed a Memorandum of Understanding (MOU) with the aim of developing artificial intelligence (AI) that would enable genomics-based healthcare for building predictive models for cancer and other diseases. The two companies would explore a collaboration to use AI to establish breakthrough analyses into genomic data under this MOU.
The program will be useful in developing predictive models for diagnoses, therapeutics and prognoses at the genetic level, which will be especially useful in the field of oncology. Genomic medicine involves the study of a patient’s DNA and using the information acquired to improve clinical care through better diagnosis and personalised treatment. With the advent of big data, AI can help speed up the analysis of vast amounts of genomic sequence data to ultimately allow doctors and patients to identify and manage conditions at the earliest possible stages.
“The new strategic growth of NSG is towards AI-driven solutions and digital transformation in the healthcare sector. We are excited to collaborate with Huawei, a global technology leader, to develop valuable and innovative breakthroughs in genomics-driven healthcare,” siad NSG Chief Executive Officer Dr VicPearly Wong.
She added that NSG firmly believes that the future of healthcare is in technological innovations. She also said the company will continue to build partnerships with leading tech players to fulfil and embody this new vision for the Group.
Huawei International is the overseas arm of Huawei serving customers in Singapore. Its Shenzhen-based parent is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. NSG’s MOU with Huawei does not involve any commitment of funding at present.
Dr Wong is a specialist orthodontist and director and founder of Orange Orthodontics & Dentofacial Orthopaedics Pte Ltd, Wren Dental and Medical Supplies Pte Ltd and Greedygums Pte Ltd. These companies were acquired by NSG in 2017, following which she was appointed Clinical Director of NSG’s healthcare subsidiary, Healthsciences International Pte Ltd.
Since taking over this role, Dr Wong has worked with the Board of Directors to completely restructure the vision board of the group. This includes ordering a strategic review of the Group’s energy division IEG, which eventually led to a voluntary creditors winding up of the subsidiary. NSG has also appointed KPMG Services to conduct an independent review into two earlier management agreements entered into by its China subsidiary, Shanghai Fengwei Garment Accessory, as well as into the valuation of a 4.5% stake in Thai General Nice Coal and Coke Co., Ltd.
Talking about these efforts, Dr Wong said, “I am pleased to say that we are nearing the end of removing loss-making legacy businesses and restructuring NSG so that we can build a strong momentum to pivot fully into healthcare.” She also expressed gratitude towards the Board members for their counsel and support in the last three months, adding that she was excited to start creating value for the shareholders.