SBMA NewsBy Albert Cheng, CEO, SBMA
Published on January 9, 2018
On 9–10 November, SBMA participated in the Precious Metals Investment Symposium in Melbourne, Australia as an Industrial Partner.
CEO Albert Cheng was a panelist in the discussion “How to Pick a Winner in Precious Metals” chaired by Metals Focus Head of Mining Research Oliver Heathman. Other highlights included the keynote presentations “Development and Prospect of Shanghai Gold Exchange” by Shanghai Gold Exchange Chief Technology Officer Zhuang Xiao, “Movers and Shakers – What Really Moves the Gold Price” by ABC Bullion General Manager Nick Frappell, “Investing in the Age of Deception” by David Morgan from The Morgan Report, “Gold: The Most Dangerous Investment in the World” by Greg Canavan from Port Philip Publishing and the panel “Bitcoin: Believing in the Boom or Bubble Trouble?” chaired by Sam Volkering, author, analyst and editor from Port Philip Publishing, which elicited many interesting opinions.
SBMA established connections with Gold Industry Group which is chaired by Gold Corporation CEO Richard Hayes, and invited their members to the upcoming APPMC so they can make connections with Southeast Asian market players. Gold Industry Group is an Australian non-profit industry association that represents the interests of gold market participants, connects industry players, supports the gold community and educates the market’s next generation.
ABC Bullion, a prospective SBMA foreign member, is Australia’s leading precious metals and bullion specialist, trading continuously since 1972. It is the only independent bullion dealer in Australia that is a full member of LBMA.
SBMA members met for the association’s Annual General Meeting on November 15, during which outgoing Chairman Sunil Kashyap provided updates on the Association’s activities and direction going forward. Members also voted for the incoming SBMA Council, which will now sit for a two-year term.
In his address, Mr Kashyap said the association has done well in meeting all its goals – SBMA has become an important member of the international bullion community, participating in several MOUs in the past year, engaging in an ongoing dialogue with Singapore Exchange (SGX), and strengthening its ties with major global bullion market players, including the London Bullion Market Association (LBMA) and Australian market participants. He also highlighted the inaugural APPMC conference, which has raised SBMA’s international profile and helped its financial sustainability, as well as the seminars SBMA organised in the past year that has raised awareness on bullion market issues. He pointed out that SBMA is now in a much stronger financial position, given its larger membership base, the success of APPMC, and support from IE Singapore.
CEO Albert Cheng proposed endorsing LBMA’s code of conduct for non-LBMA members of SBMA, which would strengthen the image of the gold market, and set standards of practices for the rest of the industry in Asia to operate. An additional “Standard of Excellence” code that would be locally adapted to take into account the conditions in Singapore/Asia was introduced to solicit opinions from members as well. Other matters included an amendment in the constitution for admitting new members, which relaxed certain requirements with the introduction of an Affiliate Membership category, as well as the simplification of management committee elections and an extension of the committee term from one year to two years.
SBMA Management Committee November 2017 – November 2019
- Brink’s Global Services Pte Ltd
- ICBC Standard Bank Plc, Singapore Branch
- INTL Asia Pte Ltd
- J. P. Morgan Global Commodities
- Metalor Technologies (Singapore) Pte Ltd
- Singapore Exchange
- The Bank of Nova Scotia, Hong Kong
- World Gold Council
- YLG Bullion Pte Ltd
SBMA would like to wish everyone a very happy festive season. Thank you for your continued support, and we look forward to working with you in 2018, during which we will continue to provide a platform our members and the bullion community can benefit from. Here is an update of our activities in the last quarter of 2017:
SBMA attended a luncheon hosted by Brink’s at IE Singapore
Executive Director Hawk Namiki attends the SPDR Gold Luncheon organised by State Street Global Advisors and World Gold Council.
SBMA holds seminar “The Role of Gold as an Asset Class for the Private Wealth Industry”. See page 11–12 for a summary of the event.
CEO Albert Cheng represents SBMA at the 18th LBMA/LPPM Precious Metals Conference in Barcelona, Spain. The conference provided an insight into vital issues affecting the precious metals market and is widely regarded as the premier event in the industry calendar, attracting senior representatives from all sectors of the precious metals market.
CEO Albert Cheng and Executive Director Hawk Namiki attend the 2017 LME Dinner Downunder.
CEO Albert Cheng and Executive Director Hawk Namiki represents SBMA at the 8th Precious Metals Investment Symposium in Melbourne, Australia. The conference and exhibition bring together every aspect of the precious metals investment industry from mining explorers and producers, to bullion companies and other investment vehicles. Keynote speakers from across the globe presented their views on the future for the sector and ASX listed mining companies will provide updates on investment opportunities. See page 15 for a summary of the event.
SBMA holds Annual General Meeting. See page 15 for a summary of the event.
CEO Albert Cheng attends the 7th Asia Precious Metals Dinner organised by the CME group at Maritime Museum, Hong Kong, which was attended by over 120 guests. This is an important networking event for the industry.
Exploratory meetings were held with the following companies: Lykke Corp, LH Precious Metals, Certiline, ABX, and more.
SBMA total membership consists of 37 companies, including three Category 1 members, six Foreign Associate Corporate members and 28 Local Associate Corporate members.
The event caters to the needs of gold refiners and miners, and aims to create a truly global platform to enable selling and sourcing of gold dore. More information: www.golddoreforum.com.
Save the date – Details to follow.
Every year industry leaders and key market players from the metals and financial communities attend LME Asia Week in Hong Kong to discuss the Asian commodities industry and network with peers and clients. More information: www.lme.com/Education-and-events/Events/LME-Asia-Week.
The National Society of Mining, Oil and Energy of Peru’s biennial event, organised to promote awareness in the potential of natural resources, particularly gold and silver resources, as well as promote new investment and business opportunities in the region. More information: http://www.simposium-del-oro.snmpe.pe/index-english.html.
SBMA and International Enterprise (IE) Singapore’s flagship event that aims at developing and strengthening a unified body in Southeast Asia for the bullion market. More information: www.asiapacificpmc.com.
Asia Pacific Precious Metals Conference (APPMC)
Join industry participants and stakeholders from the bullion markets of the 10 ASEAN countries and beyond on June 3–5 at the 2nd Asia Pacific Precious Metals Conference (APPMC) held at PARKROYAL on Beach Road, Singapore for two days of discussions, sharing of best practices, networking, and more.
The APPMC is a platform for developing and strengthening a unified body in Southeast Asia and Oceania for the bullion market. SBMA and IE Singapore welcomes the entire bullion fraternity to participate and share your views, inputs and suggestions to enhance the region’s role in the global bullion market.
We expect 400 delegates from the Asia Pacific region and around the world, with the majority from ASEAN markets. Through this platform, delegates will get to network with stakeholders from the bullion, jewellery and mining sector around the world. We encourage our members to contribute as a sponsor, speaker, exhibitor, or participate as a delegate. For more information, visit: www.asiapacificpmc.com.
Back to Index