Page 21 - Bullion World Volume 04 Issue 07 July 2023

Bullion World | Volume 3 | Issue 7 | July 2023

Questions- With the initiation of GST, what impacts a stable business to operate successfully. There should
the Malaysian market? Do you see international be stable prices that do not cause chaos within the
players coming in as well? markets in the ASEAN countries.
Mr Dato Wira Louis Ng: Yes, it will have a significant
impact as the residents are reluctant to the introduction Question to Mr Sahat- PT Pegadion establishing as
of GST,. With the implementation of GST, there will a bullion bank, how do you prepare for the same,
be significant changes in the next two years, but the and are there any external parties in Indonesia who
Malaysian government will push past it. have approached you after this establishment?
There will be a lot of international players wanting to be PT Pegadaian is mandated as the front-runner for being
a part of the Malaysian market with respect to Bullion a bullion bank in Indonesia. Their company already runs
trading, which will help the businesses grow. a spectrum of services, now they are putting in place
systems and facilities to serve the jewellery retailers
Question to Mr Nuttapong- Can you give us an and commercial industries to equip them and fulfil their
overview of the bullion trading in Thailand and an financing needs. All the procedures and systems are
overview of the market there? already in place awaiting support from the regulatory
Thailand is considered a mature market like Singapore framework for seamless execution. Many external parties
as it provides various trading facilities and options to its are interested in collaborating with us for mutual benefit,
local investors. Since the pandemic, the Thai baht has which will help the Indonesian market flourish.
become a lot more volatile, and USD trading has been
encouraged by investors. This shows the flexibility of the Questions from the audience- What advice would
Thailand market and shows the capabilities of the market you give to a country like Laos? How do we
to extend its horizons. essentially lift and develop what would we need?
Mr Albert Cheng: Here at APPMC, we strive to provide
Question- How has the market in Vietnam changed the knowledge and support of everyone to meet their
over the past 10 years? goals. The model I suggest, keeping the ecosystem, is to
Mr Huynh Trung Khanh: With the SBV taking control concentrate on the mining sector, which will help improve
the market has now stabilized compared to the last 10 your business scale.
years. Now with the market being open, it looks good for
the times to come. The country has a long history as a
storage of wealth which is passed on from generation to
generation. Overall the people in the industry must have

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