Singapore Bullion Market Association


The Singapore Bullion Market Association (SBMA) is a non-profit member-driven organisation that represents our members from the precious metals industry, including but not limited to bullion banks, exchanges, refineries, trading firms and logistics companies. The Association plays a pivotal role in the development of Singapore as an ASEAN precious metals hub and a global centre of connectivity for precious metals.

SBMA was formed in December 1993 by 16 corporate members from the precious metals industry. It started operations in early 1994 to engage the Goods & Services Tax (GST) Working Committee in discussions relating to the exclusion of GST on precious metals, and to develop Singapore as a bullion centre in the Asia-Pacific region.

SBMA was formed in December 1993 by 16 corporate members from the precious metals industry.

SBMA provides market knowledge and advice to relevant ministries and government agencies both in Singapore and ASEAN. It helps to create a conducive business environment for the precious metals sector in Singapore and the Asia Pacific region. It also coordinates and organises conferences, seminars, networking events and business missions in Singapore and the region for its members, so they can connect and share best practices and industry know-how with their peers.


SBMA works to increase Singapore’s bullion activity across all industry subsectors, including refining, trading, logistics, price discovery, custodian services, risk management. Some of our activities include:

  • Engaging with policymakers on legislation relating to precious metals.
  • Support for the launch of new standards, products, or pricing mechanisms.
  • Organising events that bring the industry together, such as networking sessions, seminars and educational visits. Our most successful global event to date has been the Asia Pacific Precious Metals Conference held annually since 2016.
  • Participating in competitions, conferences and fairs in related industries.
  • Providing guidance and training for market participants and investors.
  • Publishing magazines and newsletters with information about our activities, industry news and developments, advertising by our members, and editorial features on topical issues.
  • Promoting the view of the entire industry as an ecosystem.



Our vision is for Singapore to become a precious metals hub in the Asia Pacific region and a global centre of connectivity for precious metals.


Our mission is to assist member companies in their business and economic activities, promote them commercially, facilitate research and the exchange of commercial and academic knowledge about the precious metals market, and monitor market developments.