Polygel Global Pte. Ltd, a specialty chemicals and advanced materials group with operations across Singapore, Brunei and India, today announced a strategic partnership with Muscat Precious Metals Refining Company LLC (MPMR), a leading precious metals refining, recycling and trading group headquartered in Oman.
The partnership marks an important step in Polygel Group’s plans to expand its presence in the precious metals value chain, including downstream activities such as bullion, jewellery manufacturing, recycling and refining, subject to regulatory approvals and phased implementation.
Under the collaboration framework, MPMR will act as a strategic partner and technical advisor, supporting Polygel Group through its experience in precious metals refining, supply chain and sourcing frameworks, quality standards and international best practices. The parties will jointly explore opportunities in Brunei and the wider ASEAN region, with a focus on building compliant, scalable and commercially sustainable operations.
Polygel Group has also established a structured funding programme of up to SGD 10 million, anchored by MPMR as its institutional investor, to support the Group’s working capital and capital expenditure requirements. The programme provides a transparent and standardised framework for future tranches, subject to documentation and conditions precedent, and reflects MPMR’s confidence in Polygel Group’s long-term growth potential.
“Partnering with MPMR strengthens our strategic roadmap in precious metals,” said a spokesperson for Polygel Group. “Their technical depth, global perspective and disciplined approach to refining and sourcing will add significant value as we progress through the next phase of our development.”
A representative of MPMR commented, “We see Polygel Group as a credible and forward-looking industrial partner. Our engagement is focused on supporting the development of robust, compliant and phased precious metals operations, aligned with international standards and regional market needs.”
Both parties emphasised that the collaboration will proceed in stages, with specific activities subject to agreed milestones, feasibility assessments and regulatory approvals. The partnership does not currently constitute a joint venture, and any future equity or operational arrangements will be subject to definitive agreements.
This strategic partnership aligns with Brunei Darussalam’s broader economic diversification objectives and underscores the growing role of the Sultanate as a potential hub for value-added industrial and precious metals activities in the region.
THE BRUNEIAN| BANDAR SERI BEGAWAN
