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SBMA News

By Albert Cheng, CEO, SBMA

Published on January 9, 2018

Precious Metals Investment Symposium 2017

From left, Hawk Namiki (Executive Director, SBMA), Kerry Stevenson (Managing Director, Symposium), Albert Cheng (CEO, SBMA), Srivatsava Ganapathy (President, Foretell Business Solutions) at the Precious Metals Investment Symposium 2017

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 Annual General Meeting

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.

Mr Cheng welcoming SBMA members to the 2017 Annual General Meeting.
Mr Sunil Kashyap delivering his last speech as SBMA Chairman.
CEO Albert Cheng expressing his thanks and appreciation to Mr Kashyap for his time as Chairman.
Networking session after the Annual General Meeting.

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:

September 21

SBMA attended a luncheon hosted by Brink’s at IE Singapore

September 22

Executive Director Hawk Namiki attends the SPDR Gold Luncheon organised by State Street Global Advisors and World Gold Council.

September 26

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.

Participants networking after the seminar
October 15–17

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.

Panel discussion at the LBMA/LPPM Precious Metals Conference.
China Summit, a closed-door discussion on current issues in global bullion markets between China Gold Association, Shanghai Gold Exchange, key Chinese market participants and key London market participants at the LBMA/LPPM Precious Metals Conference in Barcelona, Spain.
November 8

CEO Albert Cheng and Executive Director Hawk Namiki attend the 2017 LME Dinner Downunder.

November 9–10

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.

Executive Director Hawk Namiki (left) and CEO Albert Cheng (right) at the 8th Precious Metals Investment Symposium
November 15

SBMA holds Annual General Meeting. See page 15 for a summary of the event.

December 4

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

Exploratory meetings were held with the following companies: Lykke Corp, LH Precious Metals, Certiline, ABX, and more.

Membership

SBMA total membership consists of 37 companies, including three Category 1 members, six Foreign Associate Corporate members and 28 Local Associate Corporate members.

UPCOMING EVENTS

14–15 January 2018. Hilton Dubai Jumeirah. Dubai, UAE.

2nd Global Gold Dore Forum 2018

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.

3 March 2018. London, UK.

LBMA Annual Members’ Party

Save the date – Details to follow.

17 May 2018. Hong Kong Convention and Exhibition Centre. Hong Kong.

6th LME Asia Metals Seminar

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.

29–31 May 2018. Hotel Arts. The Westin Lima Hotels & Convention Center. Lima, Peru.

13th International Gold & Silver Symposium

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.

3–5 June 2018. PARKROYAL at Beach Road. Singapore.

Asia Pacific Precious Metals Conference (APPMC) 2018

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.

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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.