Positioning Singapore as the Asia Pacific’s Precious Metals Hub

5 June 2017


SINGAPORE: 5 JUNE 2017 – Singapore Bullion Market Association (SBMA) with the support of International Enterprise (IE) Singapore, today kicked off the inaugural two-day Asia Pacific Precious Metals Conference. Mr Satvinder Singh, Assistant Chief Executive Officer, International Enterprise Singapore was the Guest-of-Honour.

The Conference also witnessed the signing of a Memorandum of Understanding (MOU) between Mr U Khin Maung Han, Chairman of Myanmar Gold Development Public Company and Mr Sunil Kashyap, Chairman of SBMA. This MOU will foster closer collaboration between the Myanmar and Singapore gold sector. At the conference, Mr Khin Maung Han also briefed participants on the gold market in Myanmar.

Mr Sunil Kashyap, Chairman of SBMA, said: “We are honoured to sign this MOU with Myanmar Gold Development Public Company. This is another important milestone for SBMA and it will position Singapore as an important hub for gold trading in ASEAN.”

It is the objective of SBMA to play a greater role in the region by bringing together the industry players of the bullion markets of the ASEAN countries through the sharing of knowledge and best practices and connecting them to global markets. This inaugural conference attracted about 315 participants from the London Bullion Market Association, World Gold Council, The Chinese Gold & Silver Exchange Society, London Metal Exchange, COMEX, Thailand Futures Exchange. Shanghai Gold Exchange as well as representatives from the gold trade in the ASEAN countries, Africa, Australia, Canada, China, Hong Kong, India, Middle East, New Zealand, Taiwan, Turkey, Russia, U.K. and the U.S.A.

“The ASEAN Economic Community (AEC), with a population of 675 million, is the 7th largest community in the world in terms of GDP of US$2.4 trillion. Because several ASEAN countries have gold mines, it is not just a gold importing but also an exporting bloc, particularly of scrap gold. Therefore, this conference serves as a platform for ASEAN participants to share and learn from the other attendees and to discuss issues related to the precious metals trade,” added Mr Albert Cheng, CEO of SBMA.

Well-known speakers from Singapore and around the world will be discussing developments and issues pertinent to gold. Mr John Reade, Chief Market Strategist from World Gold Council, will be the keynote speaker talking about “Relevancy of Gold at a Turbulent Time”.

Ms Ruth Crowell, Chief Executive Officer of the London Bullion Market Association will give an “Update on the London Market”.

Besides topics on gold, Mr Marcus Grubb, Director of Market Development from World Platinum Investment Council, will give a presentation on the “Case for Platinum Investment”.

On the “FinTech Development in Gold” session, participants will learn gold and silver transaction with blockchain technology. Another topic will focus on “Leveraging Technology and Transparency to Redefine Gold Savings and Divestment.”

Besides the presentations, there will be panel discussions on the “ASEAN economy and its opportunities in the precious metals market”, “The Shaping of New Market Infrastructure in Asia” and also “Market Review and Outlook on Global Gold and Silver Market Demand Trends”.

Innovative gold investment products will also be presented and discussed. Mr Shaokai Fan, Director of World Gold Council will chair the session on “Islamic Gold Investment Products – Rules, Compliance & Products” to be followed by Mr William Chin, Head of Metals & Bulk Commodities, SGX who will speak on “Shari’ah-Compliant Futures Contract – SGX Kilobar Gold Contract” and finally Mr Robin Lee, Managing Director of HelloGold who will elaborate on “Shari’ah-Compliant Gold Fintech Platform”.

The full line-up of the speakers and topics can be found via this link: