Draft:BullionStar
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| Type | Private |
|---|---|
| Industry | Precious metals |
| Founded | 2012; Singapore |
| Founder | Torgny Persson |
| Headquarters | 45 New Bridge Road, Singapore |
Area served | Singapore, United States, New Zealand |
Key people | Torgny Persson (Chairman) Luke Chua (CEO) |
| Products | Gold, Silver, Platinum and Palladium bullion; vault storage |
BullionStar is a precious metals dealer based in Singapore that offers the purchase, sale and vault storage of gold, silver, platinum and palladium bullion. Founded in 2012 by Torgny Persson, it operates a combined retail showroom and vault in central Singapore, with additional storage offered in the United States and New Zealand.
History
[edit]BullionStar was established in Singapore in 2012. Its founder, Torgny Persson, had earlier founded the bullion dealer Liberty Silver in Sweden in 2008.[1][2] According to the company, BullionStar was launched following Singapore's 2012 decision to exempt investment-grade precious metals from the Goods and Services Tax.[1][2]
In 2014, BullionStar introduced an option for employees to take part of their salary in gold or silver bullion; the company said it was the first employer in Singapore to do so.[2][3]
In 2021, founder Torgny Persson moved to the role of chairman of the board and Luke Chua, who had been the company's chief operating officer since 2015, became chief executive officer.[4][5]
Operations
[edit]BullionStar operates a retail bullion centre at 45 New Bridge Road in central Singapore that combines a shop, showroom and vault.[6] Customers can place orders online, with prices linked to the precious-metal spot price, or in person at the store.[2] Purchased bullion can be delivered or held in allocated storage in the company's vaults, including at Le Freeport, a storage facility near Changi Airport.[7][6][2] Outside Singapore, customers can buy, ship and store bullion in the United States and New Zealand, where it is held in vaults in Casper, Wyoming, and Wellington.[2]
CNN reported in March 2026 that the company held around US$2 billion of precious metals at Le Freeport.[7] In 2024, the company reported to The Business Times that the quantity of gold and silver held in its vault had roughly doubled between the end of 2019 and 2023.[8] During a surge in gold prices in early 2026, The Business Times reported that buyers queued outside the New Bridge Road store to collect online orders.[9]
References
[edit]- 1 2 Boon, Rachael (25 May 2014). "Taking a shine to gold and silver". The Straits Times. pp. 32–33 – via NewspaperSG.
- 1 2 3 4 5 6 "BullionStar Company Milestones". BullionStar. Retrieved 26 June 2026.
- ↑ "Meet the first company in Singapore to pay staff in gold". Human Resources Online. 27 October 2014.
- ↑ "New BullionStar CEO Luke Chua". BullionStar. 27 February 2021. Retrieved 26 June 2026.
- ↑ Mukherji, Biman (15 May 2023). "'Genuinely worried' Asian investors flock to safe haven gold amid US dollar woes". South China Morning Post.
- 1 2 "Where do the rich keep their gold in Singapore?". VnExpress International. October 2025.
- 1 2 Holland, Oscar (24 March 2026). "Inside 'Asia's Fort Knox': Gold bars, fine art – and a 66-million-year-old Triceratops". CNN.
- ↑ "Gold rush at Singapore's precious metal vaults as rich scoop up physical gold". The Business Times. 2024.
- ↑ Tan, Benicia (13 February 2026). "Singaporeans flock to gold despite record-high prices ahead of Chinese New Year". The Business Times.
Further reading
[edit]- "BullionStar Pte Ltd – Company Profile". Bloomberg. Retrieved 26 June 2026.
External links
[edit]Category:Companies based in Singapore Category:Retail companies established in 2012 Category:Singaporean companies established in 2012