SINGAPORE (Feb 9): Jeweller Soo Kee Group has signed an MOU with Aurora Design to establish a new joint venture company in Thailand to distribute gold and jewellery products.

The JV Co, with an initial paid-up capital of THB30 million ($1.2 million), will allow Soo Kee’s bespoke bridal jewellery brand Love & Co. to penetrate the Thailand market for the first time, says the group in a Thursday aftermarket filing to the SGX.  

Soo Kee will have a 40% stake in the JVC, while Thai-incorporated Aurora will hold the remaining 60% equity interest. It is also proposed that the former will license and supply intellectual property rights, products, and support to the JV Co.  

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