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Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024

By SBMA

Singapore Bullion Market Associatio-Landmark APPMC - SBMA 30 th Anniversary
The Asia Pacific Precious Metals Conference (APPMC) 2024 was a landmark event, showcasing significant developments and celebrations for the Singapore Bullion Market Association (SBMA). This year’s conference not only marked SBMA’s 30th anniversary but also featured key initiatives and recordbreaking attendance, solidifying SBMA’s pivotal role in the precious metals industry.
For three decades, the Singapore Bullion Market Association (SBMA) has been a leading force in Southeast Asia’s precious metals industry. This commitment to excellence was on full display at the recent Asia Pacific Precious Metals Conference (APPMC) 2024, a landmark event that coincided with SBMA’s 30th anniversary. The conference proved to be a resounding success, breaking multiple records and solidifying SBMA’s position as a key player in the global precious metals market. The conference attracted a record-breaking number of 527 attendees, with participation from all major bullion centres around the world.
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
Delegates receiving the delegates kit at the APPMC registration booth
In line with SBMA’s commitment to responsible practices, delegates received their conference materials in recyclable bags. Additionally, a partnership with The Perth Mint ensured each attendee received a stainless-steel insulated cup, promoting reusability, while ICBC Standard Bank sponsored the delegate lanyards.
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
Delegates badge at the APPMC 2024 Registration Counter

Celebrating 30 Years of SBMA with the 30th Anniversary Commemorative Silver medallion

SBMA partnered with ABC Bullion, the title sponsor for APPMC 2024, to produce and sponsor the 30th Anniversary commemorative silver medallion. Certiline Srl sponsored the packaging, and Brink’s Global Services Pte Ltd served as our logistics sponsor.
The medallion inscription, ‘Forward SBMA 2030,’ celebrates SBMA’s 30th year and reflects our commitment to advancing and completing Phase 2 of developing Singapore as a precious metals hub by 2030.
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
Delegate receiving SBMA 30th Anniversary commemorative silver medallion
Each delegate had the opportunity to redeem one of these special medallion at the medallion booth outside the conference hall, which also served as a popular spot for capturing memorable photos.
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
From left: Albert Cheng, CEO, SBMA; Ruth Crowell, Chief Executive, LBMA; KL Yap, Chairman, SBMA
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
From left: Fabian Lew, SBMA; Emily Oh, Operations/Admin Executive, SBMA; Clara Chang, Marketing and Communication Executive, SBMA; Margaret Wong, Business Director, SBMA; Albert Cheng, CEO, SBMA

Singapore Sling Soirée Kicks Off APPMC

The conference kicked off on a high note with a vibrant Welcome Cocktail Reception generously sponsored by Metalor Technologies (Singapore) Pte Ltd. Guests were treated to the iconic Singapore Sling, a cocktail that embodies the city’s rich history and evolution.
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
The inclusion of mini-Singapore flag garnishes added a touch of local flair, setting the tone for a truly international event
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
Delegates from all over the world enjoying a Singapore Sling, which set a vibrant tone for the event.

Day 2 Highlights: Launch of the Retail Gold Investment Principles (RGIPs)

Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
Shaokai Fan, Head of Asia Pacific, (ex-China) & Global Head of Central Banks, WGC; KL Yap, Chairman, SBMA; Mike Oswin, Global Head of Market Structure and Innovation, WGC; Gregor Gregersen, Founder, Silver Bullion/The Reserve; David Tait, Global CEO, WGC; Albert Cheng, CEO, SBMA
A significant highlight of APPMC 2024 was the launch of the Retail Gold Investment Principles (RGIPs). Developed by the World Gold Council and supported by SBMA, this initiative aims to establish clear guidelines for ethical practices and transparency within the gold investment sector. The RGIPs framework, including the SBMA Retail Best Practices Label, empowers investors with greater confidence and fosters a more ethical marketplace within Singapore’s precious metals sector.
The RGIPs aims to establish rigorous guidelines to ensure ethical practices, transparency, and investor confidence. At the heart of this initiative is the SBMA Retail Best Practices Label, designed to recognise companies that uphold these rigorous principles. This label serves as a hallmark of excellence, signifying a company’s dedication to safeguarding customer interests and maintaining the highest standards of integrity.
The RGIPs inauguration was graced by prominent figures in the precious metals industry, including Mike Oswin and Shaokai Fan from the World Gold Council, Albert Cheng from SBMA, and Gregor Gregersen from Silver Bullion Pte Ltd.
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
From left: Shaokai Fan, Head of Asia Pacific, (ex-China) & Global Head of Central Banks, WGC; Mike Oswin, Global Head of Market Structure and Innovation, WGC; Gregor Gregersen, Founder, Silver Bullion/The Reserve; Albert Cheng, CEO, SBMA
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
SBMA Retail Best Practices Label
We encourage all eligible SBMA members to join the RGIPs. For more information and to explore the benefits of joining the SBMA Retail Best Practices Membership, please visit our website: https://sbma.org.sg/singapore-bullion-market/retail-gold-investment-principles/.

Strengthening the China-Singapore Link

Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
From left: Albert Cheng, CEO, SBMA; KL Yap, Chairman, SBMA; Steven Chow, Chairman, BaoChuangXie; Sharon Weng, Group VP, Branding & PD of Yue Hao Jewellery Co., Ltd
Further solidifying SBMA’s commitment to global collaboration, a momentous Memorandum of Understanding (MoU) was singed between SBMA and Shenzhen Gold, Silver, Jewelry and Creative Industry Association (BaoChuangXie). The MoU aims at the bilateral development of China and Singapore’s precious metals supply chain. This landmark agreement was signed on stage by SBMA chairman Mr. KL Yap and Steven Chow, Chairman, BaoChuangXie, with Albert Cheng, CEO of SBMA, and Sharon Weng, Group VP, Branding & PD of Yue Hao Jewellery, witnessing the event. This agreement paves the way for enhanced cooperation and innovation within the China-Singapore precious metals supply chain.

Glittering Gala Dinner Honors Long-Standing Members

The 30th-anniversary celebrations culminated in a glittering Gala Dinner sponsored by Rand Refinery. The evening included a heartfelt recognition ceremony honouring 14 long-standing SBMA members who have played a pivotal role in the association’s journey: JP Morgan Chase Bank, N.A., World Gold Council, Brink’s Global Services Pte Ltd, United Overseas Bank Limited, Heraeus Materials Singapore Pte Ltd, ICBC Standard Bank Plc, Singapore Branch, Metalor Technologies (Singapore) Pte Ltd, StoneX APAC Pte Ltd, Malca-Amit Singapore Pte Ltd, Phillip Nova Pte Ltd, Silver Bullion Pte Ltd, Sumitomo Corporation Global Commodities Ltd and YLG Bullion Singapore Pte Ltd.
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
Cake cutting, champagne toasts, and celebratory music made the night truly unforgettable.
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
Cake-cutting ceremony in celebration of SBMA’s 30th anniversary at 7th APPMC 2024.
This milestone was also marked by SBMA’s Business Director, Margaret Wong, who co-hosted the conference for the first time alongside Vatsa, CEO of Eventell, and Albert Cheng, CEO of SBMA. A round of applause for all our amazing hosts this year!
Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
Margaret Wong, Business Director, SBMA hosting at APPMC 2024 Gala Dinner.

Record-Breaking Attendance & Global Representation

Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
Delegates at the venue at Shangri-La.
APPMC 2024 achieved remarkable milestones in terms of attendance:
  • Record Attendance: 527 delegates and 243 companies from 30 markets, with an additional 5,000 viewers joining online through WPIC live stream.
  • Global Representation: Delegates from leading bullion centres worldwide, including New York, London, Zurich, Istanbul, Dubai, India, Hong Kong, Shanghai, and Tokyo.
  • Significant Rise from China and Japan: Increased participation from these key markets reflects growing interest in the region’s precious metals industry.
  • Welcoming Newcomers: First-time delegates from Saudi Arabia and Bursa Istanbul broadened the conference’s global reach.
  • Largest Number of LBMA Refiners: The event boasted the participation of numerous LBMA refiners, including ABC Bullion, Argor Heraeus, Asahi Metalfine Inc, Dongwu Gold Group Co Ltd, Metalor Technologies, MKS PAMP, Rand Refinery, Shenzhen Point Gold Refining Co Ltd, Tanaka Holding, The Perth Mint, Qiankun Gold and Silver Group, and Yunnan Shengji Precious Metal Co Ltd., showcasing industry leadership.
  • Growing Jeweller Presence: A substantial presence of jewellers from China and India reflected the growing influence of these markets in the global precious metals landscape.

Looking Forward to APPMC 2025

Building on the success of APPMC 2024, SBMA is delighted to announce the dates for APPMC 2025, scheduled for 15-17 June 2025 at the Shangri-La Singapore Hotel. We look forward to another year of collaboration, innovation, and growth in the precious metals industry.

A Round of Applause

The resounding success of APPMC 2024 would not have been possible without the dedication of the Eventell Global Advisory team, led by Vatsa, and the SBMA Secretariat team—Fabian Lew, Emily Oh, and Clara Chang—led by Margaret Wong, for their hard work in organizing this successful conference.

For more information and to view the official photos and presentations, visit www.asiapacificpmc.com.

Singapore Bullion Market Association Celebrates 30 Years at Landmark APPMC 2024
Eventell Global Advisory Team and SBMA Secretariat Team along with Chairman KL Yap (L to R): Aditya, Prathik, Raju, Swapna, Vinayak, Albert Cheng, KL Yap, Srivatsava, Margaret Wong, Abhinaya, Ravi, Prajakta, Clara Chang, Fabian Lew and Emily Oh.
SBMA KIS - LEE LIANG LE photo
SAWAN TANNA has over 18 years of experience in the investment and commercial banking and finance sector and precious metals industry. He previously worked at ANZ Banking Group Limited in Perth, Royal Bank of Canada and UBS Investment Bank in London. Sawan was awarded the title of a Chartered Accountant (CA) from The Institute of Chartered Accountants in Scotland, after attaining a Bachelor of Arts in Accounting and Finance with First Class Honours from Lancaster University.
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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.