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Our Goal is to Develop Singapore as an

Our Goal is to Develop Singapore as an

ASEAN Precious Metals Hub

 

An Interview with Albert Cheng, CEO, SBMA

How did this conference conceptualise?

Singapore has always been an important gold trading centre since the 1970s. Singapore is a vibrant city leading global charts on many issues ranging from tax-related matters, financial infrastructure, support from government, rule of law, political stability, only country in Asia withAAA credit rating and many other dimensions. It is important for SBMA to leverage these factors, its network and reach through a strategic location, and its resources to support the industry through activities that connect various regions. With the mandate given by IE Singapore, the government agency driving Singapore’s external economy, we decided to stage an annual SBMA conference to connect the ASEAN region with the rest of the world in the precious metals arena.

We have chosen to collaborate with Foretell Business Solutions Private Limited, a leading information and research firm on commodities, based in India. Foretell’s experience in conducting several path-breaking conferences for commodity participants in testament to its success and we are pleased to work with them to replicate such successes for SBMA’s inaugural conference in Singapore this year in June.

What are the objectives of the conference?

We hope participants will use the conference as a platform to raise and discuss issues pertaining to the Asia Pacific precious metals market. These include government policies, market infrastructure, market outlook, opportunities and barriers in markets and so on. This will be an excellent opportunity for industry players to learn about new developments happening globally and network with some 250-300 participants including SBMA members, customers and suppliers in the Asia Pacific region.

Could you tell us a bit more about the role of Singapore Bullion Market Association?

SBMA, a non-profit organisation established in 1993, represents key stakeholders from the precious metals industry, including bullion banks, exchanges, refineries, bullion merchants and secured logistics support companies.SBMA plays a pivotal role in the development of Singapore as an Asian precious metals hub and as one of the most global centres of connectivity for precious metals.

One of the primary objectives of the SBMA is to influence public policy in a direction favourable to Singapore’s development as a precious metals hub and its members, and to engage in the legislators and policy makers to support or oppose particular legislation or policies relating to precious metals.

SBMA helps to increase Singapore’s bullion activity across all the sub sectors of refining, trading, logistics, price discovery, risk management. Beyond Singapore, SBMA also integrates and harmonises the ASEAN gold market, encouraging ASEAN bullion organisations to use Singapore as their hub for refining, trading, logistics, price discovery, and risk management.

What are some of topics we can expect to hear at the conference?

The relevant of gold at a turbulent time, market strategists commenting on global outlook/trends that will affect the case for precious metals, opportunities in various Southeast Asian markets, developments in specific hubs in terms of market infrastructure, the case for platinum investment, Islamic gold investment products, fintech developments in gold – these are some of the topics that will be shared and discussed. 

More details on the programme can be found atwww.asiapacificpmc.com

How will the conference add to the knowledge of the industry?

This is an important mid-year event in the calendar of the precious metals community. It will be a time to reflect on existing infrastructure, opportunities and challenges and to foresee new ones with changing environments, geopolitical tensions, and other policies. It will certainly help uncover new potential and opportunities in markets.

The topics discussed here will go on to form the foundation or will bring about the possibility of further new developments. 

Is there anything else participants can look forward to?

SBMA may possibly look at signing a couple of Memorandum of Understanding with different parties on different issues that will by and large benefit the precious metals community in the region. 

What would be the future developments of SBMA and this conference?

The conference is SBMA’s inaugural large-scale event and we hope you will support this initiative going forward. It is part of SBMA’s endeavours to stage this conference annually. We hope to organize the same conference again, mid-2018.

 

About

Albert L. H. Cheng,

CEO, Singapore Bullion Market Association

Advisor, World Gold Council & Shanghai Gold Exchange

 

Albert Cheng joined the World Gold Council (WGC) in March 1993 as Regional Manager, becoming Managing Director, Far East in 2003.  He retired at the end of March 2015 and has been appointed as Advisor to World Gold Council since 1 April 2015 by the Chairman of the Board.

In addition, he was appointed to the panel of the 18 International Advisors to the Shanghai Gold Exchange in 2016 again, a position he has held since its inception in 2002.

 Albert's marketing career began with Dentsu Young & Rubicam, Hong Kong in the early 80's, moved on to gold marketing in July, 1985 when he joined the Royal Canadian Mint as Regional Manager for HK/Southeast Asia.

He was appointed honorary CEO of Singapore Bullion Market Association in Nov, 2015 after retirement.

Disclaimer: Views are personal and not the views of the publisher.