SINGAPORE--(BUSINESS WIRE)--Singapore Precious Metals Exchange (SGPMX), the world’s first physical precious metals exchange with peer-to-peer bullion trading capabilities, today announced the appointment of precious metals specialist, Jim Sinclair, as Executive Chairman of SGPMX. It also announced the establishment of an Independent Advisory Board chaired by Jim Sinclair to oversee the transparency and management of the Exchange, as well as to develop education and advocacy programmes around physical bullion and wealth storage.
Independent Advisory Board members of Singapore Precious Metals Exchange’s Independent Advisory Board include former CEO of Kuala Lumpur Stock Exchange (Bursa Malaysia Berhad), Dato Yusli Yusoff, President of McMillan Woods Global, Dato Raymond Liew, prominent lawyer Ranjit Singh, and experienced commodities trader, Peter Mickelberg.
Jim Sinclair said, “I believe the U.S. economy is headed for hyperinflation and the alternative to currencies is precious metals. But it’s physical gold and not future gold that we should be looking at. And personally, I predict that emancipated physical gold price from future gold price will go up from US$3,200 to US$3,500 an ounce by 2016.”
“I’m a firm believer of the Singapore Precious Metals Exchange’s business model and am confident that the platform addresses bullion trading challenges faced by traders, financial institutions and personal wealth investors like myself. By unifying buy, store, trade and transport elements under one platform, SGPMX will easily position itself as a catalyst for Singapore to achieve its goal as a trading hub for precious metals in Asia Pacific,” Sinclair adds.
Victor Foo, CEO and founder of SGPMX said, “As part of the company’s long term growth strategy, we have invited industry specialists and experts from various fields to form the Advisory Board. With each member’s expertise, we are confident that they will not only value add to the management of the Exchange, but also drive the bullion industry forward with the initiatives in the pipeline.”
Bios of Members of the SGPMX Advisory Board
Jim Sinclair, Executive Chairman of SGPMX
Sinclair is a precious metals specialist, commodities and foreign currency trader. He was the Chief Executive Officer of Northwestern Basemetals Company Limited since 2012. He has authored three books on precious metals, trading strategies and geopolitical events, and their relationship to world economics and the markets.
Dato’ Yusli Yusoff, Member
Dato’ Yusli Yusoff was the CEO of Kuala Lumpur Stock Exchange (Bursa Malaysia Berhad) from 2004 till 2011. Currently, he sits as an Independent Non-Executive Director on the Board of Directors of a few public listed companies, including YTL Power International Berhad, Mulpha International Berhad, Mudajaya Group Berhad, Air Asia X Berhad and Westports Holdings Berhad.
Dato’ Raymond Liew, Member
Dato’ Raymond Liew is the President of McMillan Woods Global, an independent member firm of McMillan Woods Global network. He is also a Trustee of the Malaysian Accountancy Research & Education Foundation and is a Council member of the Chartered Taxation Institute of Malaysia (CTIM).
Ranjit Singh, Member
Ranjit is a general litigator with vast experience and appears regularly in the High Court and Federal Court of Malaysia. Besides representing and advising public listed companies and professionals, Ranjit also acts as counsel to the Malaysian Bar’s compulsory insurance scheme.
Peter Mickelberg, Member
Peter Mickelberg is a financial analyst and trader who has specialized in precious metals and mining equities. He is currently a communications consultant to Mr Sinclair and his company, Tanzanian Royalty Exploration Corporation.
About Singapore Precious Metals Exchange (SGPMX)
Established in August 2011, SGPMX is the world’s first physical bullion exchange established for investors, traders and institutions to trade physical precious metals like gold and silver with physically backed bullion storage facilities. It provides consolidated offerings for customers to buy, sell, store and exchange precious metals under one platform, and is privately held and independently funded.