Page 18 - Bullion World Volume 04 Issue 07 July 2023

Bullion World | Volume 3 | Issue 7 | July 2023

What do the Market Participants want from the

ASEAN Precious Metals Markets?

Chair: Mr Albert Cheng, CEO, SBMA
Panellists:
Mr Dato Wira Louis Ng, Public Gold Group of Companies, Malaysia
Mr Nuttapong (Golf) Hirunyasiri, MTS Gold Group, Thailand
Mr Huynh Trung Khanh, Vietnam Gold Traders Association, Vietnam
Mr Sahat Pangabahan, PT Pegadaian, Indonesia

Mr Dato Wira Louis Ng, President information about Malaysia’s GDP
of the Malaysia Gold Association, growth which was close to 9%
gave insightful information about as of 2022. The expected GDP
the Gold market trends in Malaysia growth for the year 2023 stands
and spoke about the key factors like around 4.5% which is half of what
the GDP rate and challenges faced. it was considering the previous
Malaysia’s annual GDP growth rate year. He further exclaimed that Tax
was in the negative numbers during implications and the pandemic were
covid-19, but since then it has key factors on the domestic demand
shown signs of recovery; the annual for gold.
growth rate for 2023 is set to be
stable at around 4.5%. The current trends and challenges
in the Malaysian Gold market are as
The annual jewellery exports from follows:-
Malaysia, which was around USD 1) Gold Price Volatility: Economic
Mr Dato Wira Louis Ng
1300 million pre covid, have seen Conditions and investor sentiment
a considerable decline since then. 2) Consumer Behavior: Cultures
The annual exports for 2022 was preferences and religions
reported at USD 1341 million, 3) Investment Demand: New
matching the pre-covid levels, government - good for investors’
showing signs of recovery. confidence and FDI.
Mr Louis gave us insightful

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