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SK Jewellery Founders Want to Privatize Firm
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The founders of Singapore-based retailer SK Jewellery want to buy out the company and take it private, aiming to gain greater control of its operations.OroGreen Investment, which is held by SK’s founders — non-executive chairman Lim Yong Guan, CEO...
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Retail
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Sep 07, 2020
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Rapaport News
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SK Jewellery Sees Profit Slump
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Singapore-based SK Jewellery Group reported a sharp drop in earnings during the first half of 2020 as store closures and other restrictions implemented during the coronavirus pandemic impacted sales. Net profit fell 81% to SGD 514,000...
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Retail
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Aug 18, 2020
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Rapaport News
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De Beers Scores Partial CVD Patent Victory
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A court has awarded a limited victory to De Beers’ synthetic-diamond production unit in a patent dispute with Singapore-based grower IIa Technologies.IIa infringed an Element Six patent related to diamond material that’s usable for lab-grown diamond jewelry and...
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Financial-Legal
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Feb 09, 2020
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Rapaport News
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Hong Kong Slump Disrupts Swiss Watches
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Swiss watch exports fell in November as orders from HongKong continued to slow. Shipments to all countries declined 3.5% to CHF 1.99 billion($2.03 billion) in November, the Federation of the Swiss Watch Industryreported last week. That mainly...
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Watches
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Dec 22, 2019
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Rapaport News
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Revenue Tumbles at Singapore’s SK Jewellery
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Singapore-based retailer SK Jewellery Group saw a heavy declinein sales for the third quarter amid economic challenges in key markets and theclosure of its gold-trading platform. Revenue fell 46% to SGD 32.6 million ($24 million),...
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Retail
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Nov 19, 2019
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Rapaport News
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Ruby Demand Robust at Gemfields Sale
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Gemfields sold $55 million worth of rough rubies inSingapore last week, the highest revenue figure the company has achieved forany auction to date. “The strong revenues from this auction…underscore the factthat market...
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Gemstones
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Nov 16, 2017
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Rapaport News
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Swiss Watch Exports See Further Growth
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Swiss watch exports grew in September, drivenby stronger demand from Hong Kong and Singapore, the Federation of the SwissWatch Industry reported. Exports rose 3.7% to $1.82 billion (CHF 1.8 billion) for the month,...
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Watches
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Oct 23, 2017
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Rapaport News
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De Beers, Soo Kee Extend Grading Deal
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The International Institute of Diamond Grading &Research (IIDGR) has expanded its grading partnership with Singapore-based SooKee Group into China, the De Beers subsidiary said.IIDGR, De Beers’ gemological unit, launched the initialcollaboration in February. Under...
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Retail
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Sep 17, 2017
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Rapaport News
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Gemfields Sets $55M Auction Record
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Gemfields recorded its highest auction total as it sold$54.8 million worth of rubies and corundum in Singapore last week.The sale fetched an average of $61 per carat for895,848 carats, out of just over 1 million carats that were...
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Gemstones
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Jun 19, 2017
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Rapaport News
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Blockchain Verification Being Tested in Singapore
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The Singapore Diamond Investment Exchange (SDiX) is testing blockchain technology as a way to authenticate ownership of diamonds, noting the methodology could cut costs and improve efficiency in the industry.Blockchain is a public database of transactions that allowsanyone on the...
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Polished Markets
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Jun 18, 2017
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Rapaport News
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Ex-De Beers Exec Varda Shine Joins Sarine
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Former De Beers executive Varda Shine is set to become anindependent director at Sarine Technologies, as the company diversifies itsboard to prepare for expanding its services.Shine (pictured) was CEO of the Diamond Trading Company – now De BeersGlobal Sightholder...
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Technology
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Mar 28, 2017
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Rapaport News
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De Beers Grading Firm Makes Asian Debut
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Soo Kee Group will become the first Singaporean jewelry retailerto offer gemological reports from De Beers grading unit.The inaugural Asian retail partnership will allow Soo Kee tooffer bespoke reports from the...
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Retail
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Feb 12, 2017
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Rapaport News
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Luk Fook Grows International Presence
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Hong Kong-based jeweler Luk Fook opened its first stores inMalaysia to tap into Southeast Asia’s “booming” tourism industry.The retailer launched two stores in popular tourist locationsin the capital city Kuala Lumpur, picking...
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Retail
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Dec 28, 2016
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Rapaport News
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Gemfields Sees Robust Demand at Ruby Auction
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Gemfields sold $30.4 million worth of rubies and corundum atan auction in Singapore last week as prices indicated a healthy market for gemstones.The company sold 1.1 million carats, out of a total 1.4 million carats offered...
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Gemstones
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Dec 22, 2016
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Rapaport News
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India Cash Crunch Stalls Gemfields Auction
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Gemfields has pushed back a sale of higher-qualityemeralds by two months to enable Indian buyers to adapt to the government’s decisionto invalidate higher-value currency notes. The auction of stones from the Kagem mine in Zambia will nowtake place...
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Gemstones
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Dec 04, 2016
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Rapaport News
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Volumes Rise on SDiX Diamond Exchange
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Trading on the Singapore Diamond Investment Exchange (SDiX) jumpedto $6.7 million in August, from the inaugural month of May.Trading grew from $1.1 million in May to $3.1 million inboth June and July, according to a spokesperson for...
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Financial-Legal
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Sep 01, 2016
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Rapaport News
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Sarine Sales Surge as Diamond Market Recovers
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Sarine Technologies’ revenue rose 45 percent in the secondquarter as a pickup in the global diamond trade helped increase sales of its manufacturing equipment.Revenue jumped to $20.9 million as the diamond technologyprovider reported recordsales of its Galaxy mapping systems...
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Technology
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Aug 08, 2016
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Rapaport News
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Sarine Pens Deal with Singapore Retailer
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SarineTechnologies struck a deal with Soo Kee Group to provide its digital diamonddisplay equipment at the Singapore-based jeweler’s Love & Co. stores. The ‘SarineProfile’ technology will be implemented in Love & Co.’s LVC Lovemarkdiamond collection...
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Technology
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Jul 27, 2016
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Rapaport News
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Diamond Manufacturing Revival Lifts Sarine Sales
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Sarine Technologies reported a recovery in quarterly revenueand profit as diamond manufacturing levels increased. The company, which sells technology to the diamond industry,said revenue jumped 27 percent to $15.5 million in the first quarter that endedMarch 31....
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Manufacturing
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May 09, 2016
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Rapaport News
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First Singapore Retail Jeweler Joins World Diamond Mark Scheme
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Luvenus Jewellery has become Singapore’s first retailjeweler to join the World Diamond Mark’s Authorized Diamond Dealer program.Displaying the seal in four of the company’s retail shopswill enhance consumer confidence and potentially improve sales,...
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Retail
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Apr 19, 2016
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Rapaport News
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