<article><a href="http://www.dealstreetasia.com/?s=Soo+Kee" target="_blank">Soo Kee Group</a> announced on Thursday that it has <a href="http://infopub.sgx.com/FileOpen/Soo%20Kee_Aurora%20JV_press%20release.ashx?App=Announcement&amp;FileID=438456" target="_blank">entered</a> into a memorandum of understanding with Thai jeweller Aurora Design to establish a joint venture company.</article>

<a href="http://www.dealstreetasia.com/?s=Soo+Kee" target="_blank">Soo Kee Group</a> announced on Thursday that it has <a href="http://infopub.sgx.com/FileOpen/Soo%20Kee_Aurora%20JV_press%20release.ashx?App=Announcement&amp;FileID=438456" target="_blank">entered</a> into a memorandum of understanding with Thai jeweller Aurora Design to establish a joint venture company.
The JV will be set up in Thailand with an initial paid-up capital of S$1.2 million. Soo Kee will hold a 40 per cent stake in the company while Aurora will hold the remaining 60 per cent.
The move is set to allow the group&#8217;s bespoke bridal jewellery brand, &#8220;Love &amp; Co&#8221; mark its maiden foray into the Thailand market. It is also in line with the group&#8217;s growth strategy to widen business networks and straighten its market position in the region.
As per the agreement, the JV will sell gold and diamond products under the &#8220;Love &amp; Co&#8221; brand and Soo Kee will license and supply intellectual property rights, products and support to the company.
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In a filing to the Singapore Exchange, Soo Kee Group Chief Executive Officer Daniel Lim said, &#8220;Thailand’s huge population and growing upper and middle classes provide a large target market for luxury spending. We believe that the sheer size of the country also presents many untapped opportunities for the Group and it is important for us to capitalise on these growth opportunities.&#8221;
<a href="http://www.dealstreetasia.com/stories/31002-31002/" target="_blank">In February 2016</a>, the group made its foray entry into the bullion business as part of its business expansion and product diversification plan. The move saw the group acquiring a 70 per cent stake in DK Bullion for S$800,000.
Mainboard-listed Soo Kee has over 60 retail stores across Singapore and Malaysia since its inception in 1991.
Also Read: 
<a href="http://www.dealstreetasia.com/stories/31002-31002/">Singapore: ST Engineering divests Keystone stake for $10.7m; Soo Kee in bullion business JV</a>
<a href="http://www.dealstreetasia.com/stories/soo-kee-group-launches-ipo-on-sgx-catalist-aims-to-raise-24m-10484/">Soo Kee Group launches IPO on SGX Catalist, aims to raise $24m </a>
<a href="http://www.dealstreetasia.com/stories/sg-dealbook-hyflux-invests-30m-in-advanced-manufacturing-64487/">SG Dealbook: Hyflux advanced manufacturing; OUE increases stake; Healthway Medical takeover offer</a>
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Soo Kee enters Thai market with S$1.2m JV

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Soo Kee enters Thai market with S$1.2m JV

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