Nanyang New Development and its co-investors will first commit $190,000 and then, the full sum, "over a period of time".
Nanyang New Development has on Feb 7 announced plans to move into the business of brokering gold bullion, as well as retail sales of jewellery.
Together with a group of other investors, Nanyang New Development plans to invest $1 million in an entity called Gold Bar Pte Ltd, a registered dealer incorporated in May 2023 and is held by one Tony Soh Tze Shen.
