New Degussa branch in Singapore

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November 5, 2015 – Degussa Goldhandel GmbH is represented by a branch office in Singapore with immediate effect. The company is thus pushing ahead with its national and international expansion strategy. In addition to its ten locations in Germany and three other European representative offices in Madrid, Zürich and Geneva, Europe’s largest precious metals trader is now also active in the Asian gold market. Numerous guests attended the opening celebrations, including Dr Michael Witter, the Ambassador of the Federal Republic of Germany, and were provided with an initial insight into the services offered and the new premises. 

Present at the opening of the Singapore branch: Wolfgang Wrzesniok-Rossbach, Michael Witter, and Raphael Scherer. Photograph: © Degussa Goldhandel.

“Within just a few decades, Singapore has progressed from being an emerging country into a highly developed industrial nation and enjoys a reputation as a highly significant international financial centre. Due to its dynamic economy and stable political system, Singapore is very popular with Asian investors especially”, explains Raphael Scherer, Chief International Officer (CIO) of Degussa Goldhandel GmbH and responsible for the international development of the precious metal trader. “For our international expansion strategy, with which we have been continuously pressing ahead since 2013, the Asian market represents the next logical step after the locations we have opened in Europe. The high demand in the investment field and the popularity of gold products with the local customers make Singapore a location that we regard as having a high growth potential for Degussa.”

New Singapore branch of Degussa Goldhandel. Photograph: © Degussa Goldhandel.

The branch office is located in Orchard Road, the most famous shopping street in the Southeast Asian metropolis. The customer can choose from Degussa’s varied product portfolio presented on almost 300 square metres of floor space. For example, precious metal investment products, such as the classic Degussa gold and silver bars, and investment coins such as the Krugerrand and Canadian Maple Leaf are on offer. In addition, an extensive range of gifts made of gold, special medals and limited Degussa thaler complete the product line. Customers also have access to a total of 1,300 safety deposit boxes that guarantee secure storage of the precious metals or other objects of value purchased. 
Furthermore, Degussa offers its new customers in Singapore a very special highlight: until the end of this year, the world-renowned “Industry Collection of Gold Bars Worldwide”, the so-called “Rothschild collection” which is now part of the “Collection Degussa”, will be on display in the Singapore branch office. It is the most significant and largest collection of contemporary gold bars in the world and comprises over one thousand artistically and historically valuable bars from 145 manufacturers in 35 countries. The total weight of the collection is somewhat in excess of 230 kilograms of pure gold and represents an estimated material value of EUR seven million. 
Further information can be found here.
This is the company’s website.
And an overview of all Degussa Goldhandel AG branches is available here.