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Strengthening Industry Bonds: The SBMA Member Engagement Initiative

By CLARA CHANG, Marketing & Communications Executive, SBMA

The Singapore Bullion Market Association (SBMA) is launching a dedicated Member Engagement initiative aimed at strengthening ties with our members, particularly those who have been less active in recent times.
“As the precious metals industry continues to evolve in response to shifting global trends, it is more important than ever for industry stakeholders to remain connected, informed, and actively engaged,” SBMA CEO Albert Cheng explained.

Why Member Engagement Matters

We believe that an engaged membership base is key to fostering a dynamic and resilient precious metals ecosystem. Our members form the backbone of the industry, contributing expertise, innovation, and leadership that drive growth and sustainability. However, we also understand that business priorities, market challenges, and evolving industry landscapes can sometimes lead to reduced engagement over time.
With this in mind, our Member Engagement Initiative is designed to connect with our members, gain insights into their current needs, and ensure they are fully aware of the resources, opportunities, and strategic initiatives that SBMA has in place for 2025 and beyond.
By fostering meaningful dialogue, we aim to enhance the value that SBMA brings to each of its members while reinforcing our collective industry voice.

Goals and Objectives

Through this initiative, we are setting out to achieve several key objectives:
  1. Connecting with members – We want to touch base with members – particularly those that have been less engaged in recent years, as well as others with new or changing needs. This initiative provides an opportunity to understand their perspectives, discuss any challenges they face, and explore ways in which SBMA can better support them.
  2. Sharing SBMA’s vision for 2025 – SBMA has a dynamic agenda planned for 2025, including industry events, advocacy efforts, market insights, and networking opportunities. By meeting with our members, we can ensure they are up to date on these initiatives and understand how they can benefit from participating in them.
  3. Understanding member needs – No two businesses are alike, and each SBMA member has unique objectives and requirements. By engaging directly with members, we can gather valuable insights into what they need from SBMA, whether it be more networking opportunities, educational resources, or advocacy on specific industry issues.
  4. Providing exposure and visibility – To support our members’ businesses, we are offering opportunities for increased exposure through our communications channels. This includes featuring members in our articles, offering advertorials to publicise their companies, and providing platforms for thought leadership within the industry.

At SBMA, We see our members as the core of the precious metals industry. This initiative is about reinforcing our commitment to them, ensuring they are well-supported, and bringing them the best opportunities available in 2025.

How We Are Engaging with Members

The SBMA Secretariat will be conducting member visits as a key component of this initiative. These visits will serve as a platform for open discussions, providing members with a direct line to the SBMA secretariat, while allowing us to better understand their evolving needs. Additionally, we will explore digital engagement methods to ensure that even those who may not be available for in-person meetings can still participate in this initiative.
As part of our commitment to offering tangible value, members who participate in these discussions will have the opportunity to be featured in our industry articles, where we highlight their contributions, innovations, and perspectives on the market. Additionally, we will be providing members with advertorial opportunities to further promote their businesses and services.
Margaret Wong, Business Director of SBMA, highlighted the benefits of engagement: “This initiative is about listening, learning, and ensuring our members feel the tangible value of being part of SBMA. We are excited to explore new ways to support their growth and success.”

Recent Member Visits

In the last quarter, the SBMA Secretariat has already taken significant steps toward this initiative by visiting several members. More member visits will be lined up in the coming months.
In January, our team, accompanied by SBMA Vice-Chairman Vinh Nguyen, Head of Precious Metals, Asia, StoneX APAC Pte Ltd, and Jeradine Ong from StoneX APAC Pte Ltd, visited Bhavesh Mahesh Lankapati and Dhanesh Mahesh Lankapati, directors at Mahesh & Co Pte Ltd.
The Secretariat also met with Khun Yong at SEA Bullion, which allowed us to gain valuable insights into Thailand’s gold market.
Singapore Bullion Market Association Strengthening Industry Bonds
From left: Jeradine Ong, Commodities, StoneX APAC Pte Ltd; Vinh Nguyen, Vice Chairman of SBMA/Head of Precious Metals, Asia, StoneX APAC Pte Ltd; Bhavesh Mahesh Lankapati, Director, Mahesh & Co Pte Ltd; Dhanesh Mahesh Lankapati, Director, Mahesh & Co Pte Ltd; Albert Cheng, CEO, SBMA; Margaret Wong, Business Director, SBMA.
Singapore Bullion Market Association Strengthening Industry Bonds
From left: Albert Cheng, CEO, SBMA; Wuthiphong Charnchanaroj (Yong), SEA Bullion Pte Ltd; Margaret Wong, Business Director, SBMA, Clara Chang, Marketing and Communication Executive, SBMA.
SBMA secretariat also visited Mustaq Ahmad, founder of Mustafa, and Ronnie Faizal Tan, Overseas Project in Charge, who graciously provided an enlightening tour of Mustafa’s operations—an experience that showcased the scale and success of one of Singapore’s most iconic businesses.
Singapore Bullion Market Association Strengthening Industry Bonds
Albert and Margaret highlighting SBMA’s market development efforts to SEA Bullion’s Wuthiphong
Singapore Bullion Market Association Strengthening Industry Bonds
From left: Ronnie Faizal Tan, Overseas Project in Charge, Mustafa’s Pte Ltd; Albert Cheng, CEO, SBMA; Mustaq Ahmad, Founder of Mustafa, Mustafa’s Pte Ltd; Margaret Wong, Business Director, SBMA, Clara Chang, Marketing and Communication Executive, SBMA.
Singapore Bullion Market Association Strengthening Industry Bonds
Mr Mustaq Ahmad and Albert Cheng.
The SBMA Secretariat also visited HydraX. We extend a special thank you to Jingkai Peng for the warm welcome, insightful discussions, and a brief office tour that underscored HydraX’s pivotal role in financial technology and digital asset solutions.
Singapore Bullion Market Association Strengthening Industry Bonds
Mr Mustaq Ahmad and Albert Cheng.

A Collaborative Future

SBMA’s strength lies in our members, and by fostering greater engagement, we can ensure that our collective industry voice remains strong and influential. Through our efforts, we hope to build a more vibrant and collaborative ecosystem where all stakeholders can thrive.
We encourage all members, whether highly active or not, to take advantage of this opportunity to engage with us. By doing so, you can gain greater visibility, access new opportunities, and play an active role in shaping the future of the precious metals industry.
If you are interested in participating or would like to schedule a visit, please reach out to us. We look forward to hearing from you and working together to strengthen our industry ties.
Singapore Bullion Market Association VGTA Driving Growth and Connection in Vietnam’s Gold Market
Huynh Trung Khanh has more than 25 years of experience in the Vietnamese gold industry, first working for the World Gold Council (Asia) as Vietnam Country Manager before setting up his own gold consultancy business (VGC) in 2003 providing brokering and consultancy services to Saigon Jewellery Company (SJC), PhuNhuan Jewellery Joint-Stock Company (PNJ), Standard Bank Plc, StoneX and World Gold Council. As a founding member of the Vietnam Gold Traders Association (VGTA), since 1998, Khanh has actively participated in the deregulation of the Vietnam gold market as Vice Chairman of VGTA, heading the External Relations Department of its Executive Committee.
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Singapore Bullion Market Association Secretariat-Lee-Jia-Yi

Lee Jia Yi

OPERATIONS & ADMIN EXECUTIVE
Before joining SBMA, Jia Yi worked as an Admin & Reporting Officer in her previous role. She holds a Diploma in Business & Social Enterprise from Ngee Ann Polytechnic. Jia Yi is responsible for managing and maintaining physical and digital files in SBMA, supporting invoicing processes, reconciling receivables and payables, coordinating meetings and conferences. Additionally, she will provide support to the team and assist the Business Director in managing the Association’s office operations and general administrative activities.

SECRETARIAT SBMA-Emily-Oh

Emily Oh

OPERATIONS & ADMIN EXECUTIVE
Emily Oh is the Operations & Admin Executive, a seasoned professional who values teamwork and effective communication. She is skilled at adapting to new challenges and takes a proactive and resourceful approach to every task. Before joining SBMA, Emily had experience coordinating international travel arrangements and spearheading community initiatives. Her role at SBMA will be providing operational and administrative support for projects and other matters to the team.

SECRETARIAT SBMA Clara-Chang

Clara Chang

MARKETING & COMMUNICATIONS EXECUTIVE
Clara Chang joins SBMA as the Marketing & Communications Executive, enriching the team with her extensive experience in content creation, social media management, and digital marketing. Prior to joining SBMA, Clara held the position of Marketing Executive at her previous job. She holds two bachelor’s degrees from the University at Buffalo, one in International Trade and another in Geographical Information Science. Her core duties will include maintaining the SBMA website, managing the quarterly Crucible newsletter, among other responsibilities.

SBMA Committee-Photo-john-levin

Mr John Levin

Global Metals
TD Securities
John Levin is the Head of Metal Sales & Trading – APAC at the Toronto Dominion Bank’s Singapore office. Prior to this role, he devoted seven years to leading precious metal sales for the ANZ banking group in his home country, Australia. Notably, from 2009 to 2011, John played a significant role on the management committee of the London Bullion Market Association while serving as the Head of Precious Metals Sales for HSBC Global Banking and Markets in the UK.

SBMA Secretariat-Fabian-Lew

Fabian Lew

MARKETING & COMMUNICATIONS OFFICER

Fabian was a Business Development and Marketing Associate before joining SBMA. He graduated from Singapore Management University with a Bachelor’s degree in Economics.

He has joined SBMA since February, 2022.

SBMA-margare-secretariat

Margaret Wong

BUSINESS DIRECTOR

Margaret Wong, Business Director at SBMA (Singapore Bullion Market Association), brought valuable experience from her previous role at the World Gold Council (WGC). Her tenure at WGC provided her with extensive exposure to the gold community in Singapore and the broader region. This background has been instrumental in establishing strong working relationships within the industry.

Margaret’s role at SBMA encompasses a diverse range of responsibilities. She oversees office management, business support processes, finance, and administrative functions essential for the smooth operation of the team and management committee. Additionally, Margaret handles membership matters, member communications, and addresses public inquiries related to SBMA.

One of Margaret’s key responsibilities is coordinating with the Event Management Company for SBMA’s prestigious annual event, the Asia Pacific Precious Metals Conference. This flagship conference plays a crucial role in the industry, making her involvement pivotal in its success.

Described as resourceful and self-motivated, Margaret Wong brings a wealth of skills and experience to her role at SBMA, ensuring efficient operations and effective engagement within the precious metals community in Singapore and beyond.

SBMA-Albert-secretariat

Albert Cheng

Chief Executive Officer

Albert Cheng joined the World Gold Council in March 1993 as a Regional Manager, becoming Managing Director, Far East in 2003. He retired at the end of March 2015 and was subsequently named its Advisor. He has also been an International Advisor to the Shanghai Gold Exchange since 2002.

His marketing career began with Dentsu Young & Rubicam, Hong Kong in the early 80’s. He began gold marketing in July 1985 when he joined the Royal Canadian Mint as a Regional Manager for Southeast Asia.

He was appointed honorary CEO of SBMA in November 2015. He is responsible for the success and strategic development of SBMA, represents the interests of the Association, and is responsible for all the legal and regulatory aspects of the work of the Association. He is the primary contact for regulators and government bodies on bullion market development.

Ms Pawan Nawawattanasub

Ms Pawan Nawawattanasub

CEO
YLG Bullion Singapore Pte Ltd

Pawan is the CEO of YLG Bullion Singapore and founder of YLG Bullion International. She has almost 40 years of experience in the jewellery industry and established YLG in Thailand in 2003. In 2012, she brought YLG to Singapore. She sits on the Board of Directors of the Thailand Gold Traders Association, the Thailand Futures Exchange’s Arbitration Committee, and the Rotary Bangkok committee. She holds a master’s degree in Political Science.

SBMA-Shaokai-Fan

Mr Shaokai Fan

Head of Asia-Pacific (ex China) and Global Head of Central Banks
World Gold Council
Shaokai Fan is the Global Head of Central Banks at the World Gold Council, responsible for advising governments on gold matters, and enhancing the gold market through engagement, dialogue, and thought leadership. He works directly with central banks and sovereign wealth funds on investment considerations. Prior to this position, Shaokai held multiple roles at Standard Chartered Bank, including Director for Asia Strategic Initiatives and Associate-Director for Public Sector coverage. Shaokai holds a Masters of Public Administration from Columbia University and the London School of Economics, and an undergraduate degree in finance and economics from New York University.

SBMA-Committee-Alan-Liew

Mr Alan Liew

Head of Bullion & Commodities Trading
United Overseas Bank Limited
Alan is Head of Bullion and Commodities Trading for Group Trading in Global Markets, United Overseas Bank (UOB). Alan joined UOB and started the bank’s commodities trading business in 2014, previously he spent eight years in Standard Chartered Bank (SCB) trading both precious and base metals. During his tenure at SCB, he obtained the SGE gold trader licence and was part of the pioneering team for the SGE business and the FX quantitative trading team. Prior to trading, he worked for Monetary Authority of Singapore in the Financial Risk Management Division. He holds a BSc (Hon) in Computer Science at National University of Singapore and a MSc in Financial Engineering at Nanyang Technological University.

SBMA-Committee-Nikos

Mr Nikos Kavalis

Managing Director
Metals Focus Singapore Pte Ltd
Nikos Kavalis is a founding partner of Metals Focus. He has over 20 years of experience in precious metals, having previously worked for the Royal Bank of Scotland and GFMS. Since September 2019, Nikos has been based in Singapore, where he also runs the local subsidiary of Metals Focus.

SBMA-Committee-khun nuttapong

Mr Nuttapong Hirunyasiri

CEO
MTS Gold Global Trading Pte Ltd
Nuttapong Hirunyasiri is the CEO of MTS Gold Group, one of Thailand’s top 10 companies and top 3 bullion companies. He started MTS Gold Group’s first overseas office in Singapore and has been expanding the group business internationally. He focuses on product development and innovation for gold investment, with the aim of being a leader in providing the full suite of gold investment services in the ASEAN region.

SBMA Committee-Photo-Raman-Walia

Mr Raman Walia

Executive Director, Head of Commodities Sales – APAC
JP Morgan Chase Bank N.A.

Raman is Executive Director and Head of Commodities Sales, APAC, for J.P. Morgan. He joined JPMorgan in 2008 in New York, moved to Singapore in 2011, and helped expand the precious metals business in the region. Raman has an MBA from Cornell University, and likes to travel in his spare time.

SBMA Committee-Photo-Andrew-Clarke

Mr Andrew Clarke

Head of Brink’s Global Services
Brink’s Global Services Pte Ltd

Andrew Clarke is the Head of BGS (Brink’s Global Services) for Singapore, Indonesia, Malaysia and Brunei. He has held various leadership positions throughout his career in secure logistics and risk management with Brink’s, which started in Hong Kong in 2010. Andrew relocated to Singapore in 2018 to expand the precious metals line of business along with Brink’s portfolio of services and industries.

SBMA Committee-Photo-Kazuya-Naoki

Mr Kazuya Naoki

Head of Metals, Asia
ICBC Standard Bank Plc, Singapore Branch

Kazuya (Kaz) Naoki is the Head of Metals, Asia of ICBC Standard Bank in Singapore and is responsible for the precious & base metals sales and trading in the region. He joined Standard Bank Plc Tokyo Branch in 2008 and was relocated to its Singapore Branch in 2013 whose controlling stake was acquired by the Industrial and Commercial Bank of China in 2015. Prior to joining Standard Bank, Kaz spent 11 years focusing on commodity trading and risk management with Mitsui & Co in Tokyo, Sydney and London. Kaz has been serving on the SBMA Management Committee since 2016.

SBMA Committee-Photo-Vinh-Nguyen

Mr Vinh Nguyen

Head of Precious Metals, Asia
StoneX APAC Pte Ltd

Vinh Nguyen joined StoneX Group in Singapore at the beginning of 2008 and responsible for its APAC precious metals activities since 2019 until now.

SBMA Committee-KL-Yap

Mr KL Yap

General Manager, Singapore Refining Business Unit
Metalor Technologies (Singapore) Pte Ltd
KL YAP is the General Manager of Metalor Technologies (Singapore) Pte Ltd’s Singapore Refining Business Unit. He joined Metalor in 2013, initially in Refining Sales. In 2014, he became Refining Business Unit Manager, leading the development of a new precious metal refinery. KL was Vice Chairman of SBMA from 2017 to 2021, now serving as Chairman. With a degree in business commerce, finance, and marketing, he brings prior experience from refinery and heavy industries.