“The end of 2028 will be a good time for us to go ‌public,” Pawan ⁠Gadia said, ⁠adding that the company would also use the proceeds to buy other gifting brands.

Founded in 1994, Ferns N Petals sells flowers, cakes and personalised gifts in India, the United Arab Emirates, Singapore, Saudi Arabia and Qatar, and aims to enter Malaysia and more Gulf countries. Gadia did not provide a timeline.

Gadia said the Middle East ⁠war had ‌not disrupted the company’s plans, despite expecting softer sales between April and June.

India’s retail and consumer sector will ⁠double to $1.93 trillion by 2030 from 2024 levels, according to Deloitte and an Indian industry body, as consumers spend more on discretionary goods and services.

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EXPANSION PLANS

The company reported revenue of 10.85 billion rupees ($113.19 million) in fiscal 2026, up 25% from a year earlier. It was last valued at $329 million in 2022, according to business data provider Tracxn.
Gadia expects Ferns ‌N Petals to maintain annual revenue growth of about 25%, with India contributing around 55% of revenue.
Ferns N Petals also plans to expand its ⁠store network to 350 by fiscal 2028, from more than 300 currently, focusing on affluent urban neighbourhoods and franchise-led expansion into smaller cities.
The CEO additionally projected core earnings margin of 5%-6% this fiscal year, up from 2.5% last year, saying Ferns N Petals had shifted its focus to profitability as investors now place greater emphasis on earnings than on revenue growth.

Singapore is positioned to become Southeast Asia’s neutral gold clearing hub, aided by regional policy shifts in Malaysia and Indonesia. Priorities include building bullion storage, market depth, and financial infrastructure, while leveraging technology like tokenised gold and faster settlement systems to attract global institutional participation.

Key Points

• Singapore is well-positioned to become South-east Asia’s neutral gold clearing and distribution hub, as neighbouring countries like Malaysia and Indonesia tighten regulations on precious metals trading, redirecting gold flows toward the city-state’s stable, open-trade environment.

• Building market depth is critical, requiring sovereign-grade vaulting, legal protections, collateralised lending, and active forward and lending markets to attract international central banks and institutional investors beyond simply storing gold.

• Technological advancements, including shorter settlement times, digital gold products, and tokenised bullion solutions, could strengthen Singapore’s competitive edge, though experts emphasise physical infrastructure and deep liquidity remain fundamental to long-term success.

Singapore’s Strategic Opportunity as a Gold Hub

Regional Policy Shifts Creating New Openings

Recent regulatory changes across Southeast Asia are repositioning Singapore as a potential gold trading and clearing hub. Malaysia’s 10 percent import duty on gold bar shipments and Indonesia’s export duty on gold — driven by resource nationalism — have disrupted regional gold flows. Industry experts, including Robin Tsui of State Street Investment Management, note that these shifts create a clear opportunity for Singapore to establish itself as a stable, neutral clearing and re-export hub for Asean gold, leveraging its open trade policy and geopolitical neutrality.

Building Infrastructure and Market Depth

Singapore’s Monetary Authority and the Singapore Bullion Market Association are actively working to deepen gold-trading infrastructure, including sovereign-grade vaulting services for foreign central banks. However, analysts stress that Singapore must evolve beyond secure storage into a full financial marketplace — one where gold is financed, hedged, and settled. Priyanka Sachdeva of Phillip Nova emphasizes the need for collateralised lending, gold-backed financing, and greater product innovation to attract institutional investors and generate the market depth necessary to compete with more established global gold hubs.

Competing Regionally and Embracing Technology

Singapore and Hong Kong: Competition and Complementarity

Hong Kong is set to launch its own gold clearing system in July, benefiting from proximity to China’s substantial gold volumes. Experts, including John Reade of the World Gold Council, believe there is room for both cities to thrive as complementary Asian gold-trading centers. Singapore has committed to launching its own clearing system, though no timeline has been announced. Increased participation from domestic banks in over-the-counter markets could deploy more risk capital, strengthening both hubs while fostering healthy competition.

Technology as a Competitive Differentiator

While neither Singapore nor Hong Kong is expected to surpass London’s dominant OTC market soon, faster and more advanced settlement systems could provide a meaningful advantage. London currently operates on a T+2 settlement basis; shorter settlement cycles would reduce capital requirements and improve trading efficiency. Singapore already benefits from GST exemptions on investment-grade precious metals. Moving forward, experts recommend streamlining onboarding for international investors, developing gold-based financial products, and advancing digital gold and tokenised bullion solutions — while ensuring these innovations complement, rather than replace, robust physical infrastructure and institutional participation.

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