Soo Kee launches bullion business and new HQ at Changi Business Park
Singapore
CATALIST-LISTED jeweller Soo Kee Group launched its bullion products and services arm SK Bullion on Tuesday, as it opened its new corporate headquarters in celebration of the company's 25th anniversary.
Soo Kee's new seven-storey headquarters at Changi Business Park will occupy about 13,047 square metres, housing its regional research and design (R&D) hub and customer care facility.
The facility is intended to support the company's product design and research, branding, testing and assurance, e-commerce, logistics as well as training activities.
SK Bullion will provide trading, distribution, storage and recycling services for precious metals, partnering with reputable mints and refineries.
The bullion business has been lined up as an "alternative investment platform for consumers to buy, sell and store their bullion assets".
The absence of goods and services tax (GST) on investments in precious metals and strong business infrastructure makes Singapore an attractive precious metals trade hub, said Soo Kee in a statement.
Soo Kee's bullion investment platform looks to leverage Singapore's favourable position to tap into the opportunities in the global bullion industry, seeking to enhance its market leadership in the jewellery industry.
Soo Kee's executive director and chief executive Daniel Lim said: "The bullion industry has got great potential due to the growing demand for precious metals as a safe haven investment."
"Singapore is well-positioned, as one of the world's safest jurisdictions strategically located at the heart of international trade flow," he added.
The first SK Bullion store is slated to open in August 2016 at Clifford Centre.
SK Bullion services will also be available through an online platform.
The jewellery retailer also announced its partnership with mainboard-listed Sarine Technologies Ltd, which provides precision technology products for the evaluation of diamonds and gems.
The group's bridal specialist brand Love & Co will be the first jeweller in Asia to utilise the Sarine Profile diamond display paradigm, a digital sales tool with diamond imaging, lighting and grading information.
Love & Co will launch the service for its proprietary LVC Lovemark diamond collection in Singapore and Malaysia. "This partnership is significant for both parties and it reflects our shared vision for a 21st century consumer experience in the diamond jewellery market," said Mr Lim.
