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LPM HK Expands Into Singapore

A Strategic Move in the Precious Metals Market

LPM HK Expands Into Singapore

The precious metals market in Singapore is set for further expansion with the entry of LPM, one of Asia’s largest precious metals dealers. As LPM establishes itself in Singapore, it aims to compete in a heavily saturated market, dominated by the likes of BullionStar, Indigo Precious Metals, and Silver Bullion.

This strategic move comes at a time when the precious metals industry in Singapore is thriving, but the question remains: can LPM make “A-Mark” in an already crowded space? See what I did there?

Adding to the significance of this move, LPM has allegedly hired Martin Huxley, formerly of StoneX and ex-President of the Singapore Bullion Market Association (SBMA), to lead its efforts in Singapore.

The establishment of AM LPM Singapore Pte. Ltd. is expected to add weight to LPM’s growing regional presence, but its success will depend on its ability to differentiate itself in this competitive landscape.

LPM’s Expansion into Singapore: A Strategic but Surprising Move

As part of its broader expansion strategy, LPM has officially set up operations in Singapore under AM LPM Singapore Pte. Ltd., which was incorporated in 2024. The company is a registered entity with the Accounting and Corporate Regulatory Authority (ACRA) and is based at 1 Coleman Street, #08-02, The Adelphi, Singapore 179803.

However, as of the latest information available from the Ministry of Law, AM LPM Singapore Pte. Ltd. has yet to secure its Precious Metals Dealer license, a key requirement for legal trading in the country.

Despite Singapore being a smaller market compared to Hong Kong, LPM’s decision to establish a presence here has raised questions within the industry. Many wonder why LPM would incur the additional costs of running an office in Singapore when it could service the region more cost-effectively from its Hong Kong base, especially given that Hong Kong’s bullion market is far larger and well-established.

A Saturated Market: Can LPM Compete?

Singapore’s precious metals market is well-known for being a competitive, crowded space and a very costly place to do business. Leading companies such as BullionStar, Indigo Precious Metals, and Silver Bullion dominate the scene, offering a wide range of bullion products, secure storage solutions, and even physical vaults. LPM will need to offer something unique to stand out in this already saturated market.

Moreover, LPM will also have to contend with Singapore’s stringent regulatory framework, which requires dealers to operate in full compliance with the Ministry of Law’s guidelines on precious metals trading. With its Precious Metals Dealer license still pending according to the website, LPM has some hurdles to overcome before it can fully establish itself as a trusted player in the Singapore market.

A-Mark’s Acquisition of LPM: A Step Towards Global Dominance

LPM’s recent expansion into Singapore follows a significant corporate development. A-Mark Precious Metals, Inc. (NASDAQ: AMRK), a leading fully integrated precious metals platform, has completed the acquisition of LPM Group Limited as part of a broader deal with AMS Holding, LLC (AMS). This transaction signals A-Mark’s commitment to expanding its footprint into Asia, leveraging LPM’s already strong presence in Hong Kong and its growing base in Singapore.

With A-Mark’s backing, LPM now has the resources and industry expertise to compete on a global level. However, it remains to be seen whether LPM can carve out a niche for itself in the highly competitive Singaporean market or if it will face challenges trying to displace established local players.

Martin Huxley: A Strategic Appointment for Singapore’s Market?

At this stage it has not been announced but the source of the strategic move is extremely strong!

One of LPM’s most strategic moves seems to have been the engagement of Martin Huxley, a highly respected figure in the precious metals industry, to lead its Singapore operations. Huxley’s experience as the former President of the SBMA and now Honorary Adviser to the SBMA and his previous role at StoneX make him a key asset in LPM’s bid to build credibility and form strong relationships in Singapore’s bullion market.

Huxley’s knowledge of the local market and his network of contacts will undoubtedly aid LPM in navigating the competitive landscape. His assistance in setting up LPM Singapore could help LPM position itself as a preferred choice for both retail and institutional investors looking to buy, sell, or store precious metals in Singapore.

With the LPM office so near to Boat Quay I for one am looking forward to a catch up beer when time permits for Mr Huxley a fellow West Ham fan to join us for a libation!

The Bigger Picture: Why Singapore?

One of the pressing questions the industry is asking is: why would LPM choose to set up an office in Singapore when Hong Kong offers a much larger market? The Hong Kong bullion market is far more established, and setting up operations in Singapore adds an additional base cost to LPM’s business. Could LPM have serviced its Singaporean clients from Hong Kong more efficiently?

There are several possible explanations. Singapore, despite being a smaller market, offers certain advantages such as political stability, a favourable tax regime on investment-grade bullion, and its growing reputation as a global financial hub. These factors may have influenced LPM’s decision to establish a base in the city-state.

What Does This Mean for Investors?

What Does This Mean for Investors

For investors, LPM’s entry into Singapore provides another option in an already crowded market. LPM is well-known for offering competitive pricing, an extensive range of products, and excellent customer service. With the added benefit of local operations, investors in Singapore can now purchase precious metals without the hassle of international shipping and potential delays.

However, given the competition, LPM will need to prove that it can provide added value to investors compared to existing players like BullionStar, Indigo Precious Metals, and Silver Bullion, all of which have established strong client bases and offer secure storage options within Singapore but focus more overseas from their Singapore base.

Will LPM make it on to the Top 5 Gold Dealers in Singapore 2025 list?

The Future Outlook for LPM Singapore

The future success of LPM in Singapore will depend on several factors, including its ability to differentiate itself in a saturated market and secure its Precious Metals Dealer license. With A-Mark’s backing and Martin Huxley’s leadership, LPM certainly has the tools to succeed, but it will face stiff competition from established players.

If LPM can bring innovative services or products to the market, such as lower premiums or new investment products, it may well have a chance to carve out a meaningful share of the market. However, without a clear differentiation strategy, it risks becoming another player in an already crowded space.

AM LPM Singapore Pte. Ltd. Address

Address: 1 Coleman Street, #08-02, The Adelphi, Singapore 179803

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