SOO KEE GROUP: Launches bullion business with new HQ and 25th anniversary celebration

Soo Kee Group CEO Daniel Lim at the bullion storage vault in its new Changi Business Park Vista HQ. Photo: Company Soo Kee Group launched its bullion business on Tuesday (26 July), in conjunction with the official opening of its new HQ at Changi Business Park Vista and its 25th anniversary celebration. "The government wants to develop Singapore as a precious metals trading hub and has shown strong support by removing GST for purchases of precious metals." – Daniel Lim Soo Kee Group CEO Photo: Company In February 2016, the Group said that it had entered a MOU to invest up to S$800,000 to acquire 70% in DK Bullion, an online trading platform for the sale and purchase of gold, silver and platinum coins and bars. The business was renamed SK Bullion on 15 June. To promote understanding of bullion investment, the Group intends to open its first bullion showroom at Clifford Centre, Raffles Place next month. It is also providing the value-added service of insured storage and delivery of precious metals. "To succeed in bullion trading, you need a strong reputation for trustworthiness because of the large amounts of money involved. "You need a good knowledge of precious metals and we have 25 years of experience of handling precious metals," said CEO Daniel Lim during a media interview on Tuesday. "Being publicly listed also helps, as it provides the assurance that we have proper risk management measures in place," he added.

Bullion is a bulk quantity of precious metal, such as gold, silver, platinum or palladium, measured by weight and typically cast as bars. Gold and silver are also bought and sold as coins. Above: SK Bullion's safe deposit box.
Photo: Company
The bullion business adds to the Group's 60+ retail outlets in Singapore and Malaysia under its 3 jewellery brands (SK Jewellery, Soo Kee Jewellery and Love & Co) as well as its pawnbroking business (MoneyMax Financial Services).

SK Jewellery's Golden Legacy (background) holds the record as Singapore's Largest 100g Pure Gold Bar on Singapore's Book of Records.
Photo by Sim Kih

• SK Jewellery is able to enlarge the surface area of gold bars to more than 20 times the surface area of a tradtional gold bar (pictured above in the foreground) of the same weight.
• Using laser technology to carve intricate lines on the surface of the gold bar, SK Jewellery's SG50 collection is the first gold bar collection in Singapore with a hologram effect
• Using 3D gold-carving technology, SK Jewellery is able to produce exquisitely intricate and lifelike illustrations on its gold bars.

 
Soo Kee Jewellery has adopted 3D-printing technology and laser engraving to construct models of key designs, prior to making the actual piece in diamonds and gold. This allows customers who purchase customised jewellery at the Soo Kee E-store (pictured above) to receive the finished goods within a shorter turnaround time.

On display at Soo Kee HQ: The Devotia tiara was hand crafted by Soo Kee Jewellery at a value of S$206,238. It is encrusted with 818 diamonds totaling 36.34 carats and can be converted into two pairs of diamond earrings and a white gold-beaded necklace. Photo by Sim Kih

On display at Soo Kee HQ: This diamond studded jewellery box reflects Soo Kee's craftsmanship at the 2008 Singapore Jewel Festival. It is encrusted with 3,110 diamonds totaling over 41 carats, surrounded by 2,177 rubies and sapphires. It is valued at S$2.35 million. Photo by Sim Kih

A luxury timepiece carried by MoneyMax is the Hublot Big Bang King Gold Edition Euro 2012 - limited to 250 timepieces.
MoneyMax Price: S$27,500
Boutique Price: S$61,900.
Photo by Sim Kih

The Group founded its pawnbroking business in 2008. Known as MoneyMax Financial Services, the subsidiary was listed on SGX Catalist in August 2013.

MoneyMax has 48 outlets and is one of the largest pawnbroking chains in Singapore and Malaysia.

In February 2015, Moneymax became the first pawnbroking chain to offer an online platform, targeting the digitally connected tech-savvy generation. It also has a mobile app to shop for, sell and appraise valuables.

Guests of honor and Soo Kee Group directors planted a tembusu tree in an auspicious act at the opening ceremony of its new HQ.
L-R: Dr Koh Poh Koon, Minister of National Development & Ministry of Trade and Industry | Soo Kee Group Chairman, Dr Peter Lim | Sam Tan, Minister of Manpower and MP for Radin Mas | Soo Kee Group COO Mary Lim | Soo Kee Group CEO Daniel Lim. Photo: Company

As part of its celebrations, Soo Kee Group presented a cash gift of S$50,000 to Sian Chay Medical Institution. L-R: Dr Koh, Dr Lim, Ricky Kok (Vice Chairman of Sian Chay Medical Institution), Daniel Lim, Mary Lim, Justina Tan (also Soo Kee Group COO). Photo: Company
MoneyMax presented a cash gift of S$50,000 to Radin Mas Constituency. L-R: Dr Koh, Dr Peter Lim, rep from Radin Mas CC, Sam Tan, Justina Tan, Daniel Lim, Mary Lim. Photo: Company
Spotted among the guests were Serial System founder Derek Goh and Best World co-founder, Dr Doreen Tan (in the background between Sam Tan and Dr Peter Lim). Photo by Sim Kih

Soo Kee Group's new corporate headquarters at Changi Business Park Vista is 7 storeys high with a gross floor area of about 13,047 sq m. The facility will also serve as its research and design hub as well as a customer care center.
Photo: Company 
L-R: Gan Thiam Poh (MP for Ang Mo Kio GRC), Dr Lim Wee Kiak (MP for Sembawang GRC), Mary Lim, Sam Tan, Dr Koh, Dr Peter Lim, Lee Yi Shyan (MP for East Coast GRC), Daniel Lim, Justina Tan.  Photo: Company