News in Brief

SBMA Continues to Grow Membership

The Singapore Bullion Market Association (SBMA) has announced five new companies as corporate members, noting that the increased membership reflects the expansion of Singapore as a precious metals hub in the Asia-Pacific region.

New members include gold trading hub Hua Seng Heng and mining industry trading company MIND ID Trading as local associates. Nihon Material (refiner, bullion and precious metals products manufacturer, and trader), Bulmint (precious metal processor and investment products manufacturer), and Sun Yip Hong Gold Dealers (trader and manufacturer of scrap precious metals) have also joined the SBMA as foreign associates.

The SBMA now has a total membership count of 74 organisations, with 55% of members comprised of local associates and 35% as foreign associates.