Published on: 28 March 2024

Despite eager anticipation within the business community for details on the high-value goods tax (HVGT), the Ministry of Finance (MOF) did not introduce the HVGT Bill in the current session of Parliament as was originally planned.

Parliament adjourned on Wednesday and will reconvene from June 24 to July 18.

As a result, the implementation of HVGT will no longer take place on May 1, which was the date proposed during the Budget 2024 speech.

Published on: 26 March 2024

The Malaysia Gold Association (MGA) has recently hosted its 10th Annual General Meeting (AGM), here in the capital city to elect new board committee, to continue assisting local precious metals industry players to attain greater success.

Published on: 10 March 2024

Steeped in culture and history, gold jewellery is constantly in demand among the people in ASEAN countries, Malaysia has for instance has been predominantly a gold jewellery market for decades. We have also been a major exporter of gold jewellery. Prior to the Covid-19 pandemic, gold jewellery manufacturing in Malaysia stood at 44-52 tonnes, with 75% – 80% of the gold jewellery fabricated in Penang (Island and Butterworth).

Published on: 08 March 2024

Malaysia Gold Association (MGA) has jointly organised the 2024 China-ASEAN Gold and Jewellery Trade Collaboration Forum with China Gold Association (CGA) and United Overseas Bank (UOB) of China, that hosted more than 50 delegates (consisting of gold veterans, investors, bankers, jewellers) from 8 ASEAN countries to share insights on regional gold market trends, local demands, and other international trade-related matters (such as opportunities and challenges), here at Menara Public Gold, Kuala Lumpur, recently.

Published on: 04 March 2024

The Malaysia Gold Association (MGA) has hosted notable global precious metals leaders and industry players from varied countries at the 2nd Edition Malaysia Gold Conference 2024, here at JW Marriott Hotel, Kuala Lumpur, recently. The event was graced by Senator Puan Hajah Fuziah Salleh, Deputy Minister of the Ministry of Domestic Trade and Consumer Affairs, who honoured the event with a keynote speech applauding MGA for the great efforts in organizing such significant event, while emphasizing on the importance of learning from renowned speakers to drive local precious metals industry to greater heights.

Published on: 01 March 2024

Gold is expected to climb further to hit US$2,200 per ounce by the end of 2024, after jumping nearly 14% to an all-time high of US$2,077.49 at the end of 2023, before closing the year at US$2,062.98 per ounce on Dec 29, compared with US$1,814.95 a year ago

Gold price dived to below US$2,000 for the first time this year to US$1,992.33 on Feb 14, before rebounding to US$2,046.14 at the time of writing on Friday (March 1), gaining back US$53.81 or 2.7% over two weeks.

Published on: 01 March 2023

The Malaysia Gold Association (MGA) has hosted notable global precious metals leaders and industry players from varied countries at the 2nd Edition Malaysia Gold Conference 2024, here at JW Marriott Hotel, Kuala Lumpur, recently.

Published on: 16 January 2024

Persatuan Emas Malaysia (MGA) menganjurkan Persidangan Emas Malaysia di ibu negara pada 28 Februari 2024.

MGA berkata, pihaknya menjemput peminat emas, peniaga barang kemas, bank dan pelabur untuk mengambil bahagian dalam persidangan emas berkenaan untuk mendapatkan pandangan berharga daripada veteran emas terkenal dari seluruh dunia.

Published on: 21 October 2023

美元持续走强，为了减少波动冲击，我国政府再次提出要以黄金第纳尔（gold dinar，俗称回教金币）作为外汇储备货币，经济学家乐见政府为减缓市场波动而再提出此类看法，奈何知易行难！

首相安华日前在下议院回应询问时表示，政府有意再将黄金第纳尔作为储备货币。

他表示，由于先前的提案并未得到任何实质回应，因此，将在今年12月，在吉隆坡举行的回教经济会议上，重点讨论相关议题。安华指出，其实黄金第纳尔的使用率，在回教国家只占5至6%，因此，大马开始执行会是一个积极的开始，因为这有助于提供助力，并减少对美元的依赖。

Published on: 17 October 2023

The government of Malaysia is actively exploring the idea of using the gold dinar as a reserve currency, the country’s leader said today.

Prime Minister Datuk Seri Anwar Ibrahim told the Dewan Rakyat, Malaysia’s lower house of parliament, that the use of the gold-backed currency will be discussed during an upcoming meeting on Islamic economics and finance to be held in December.

Published on: 17 July 2023

This was according to a research by Forex Suggest that analysed global data on central bank gold reserves, consumer demand for jewellery, Exchange-Traded Fund (ETF) holdings and demand per capita to find the biggest gold nations.

In a release issued today, Forex Suggest said the 2022 global gold market has made an impressive recovery after two years of successive decline from the Covid-19 pandemic. Presently, gold mining and investing have an estimated market cap of US$13.2 trillion, which is great news for some of the top gold-producing countries in the world.

Published on: 19 June 2023

Malaysia's gold industry, which has only since recovered from the effects of the Covid-19 pandemic in 2023, is set to lose its shine again in the form of the impending luxury goods tax (LGT), according to the Malaysia Gold Association (MGA).

In a statement on Monday (June 19), MGA president Datuk Louis Ng underlined that the implementation of the goods and services tax in 2015, and sales and services tax in 2018 both resulted in gold jewellery demand dropping.

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Published on: 19 June 2023

Singapore Bullion Market Association (SBMA) had hosted the 6th Asia Pacific Precious Metals Conference 2023 (APPMC 2023) at ParkRoyal, Singapore, earlier this month, from 4th-6th June 2023, whereby the President of Malaysia Gold Association (MGA), Dato’ Wira Louis Ng, whom is also the Executive Chairman of Public Gold Group (PG Group) was invited to speak to 470 delegates from 25 countries – particularly members from London Bullion Market Association (LBMA), Vietnam Gold Traders Association, Japan Bullion Market Association and World Gold Council, to share insights on Malaysian gold market.

Published on: 30 March 2023

Local gold traders, wholesalers and jewellers are concerned over the possible imposition of the Luxury Goods Tax on gold products, particularly gold jewellery, said the Malaysia Gold Association (MGA).

They voiced the concern at MGA's annual general meeting earlier this month, following which the association discussed the matter with the Ministry of Finance and Royal Malaysia Customs Department (RMCD) at a meeting on Monday (March 27), said MGA in a statement on Thursday.

Published on: 29 March 2023

Malaysia Gold Association (MGA) had recently hosted its 9th Annual General Meeting (AGM) to discuss the latest matters related to gold trading industry, here at Menara Public Gold on 22nd March 2023. Among some of the important topics discussed were on the recently announced Luxury Goods Tax imposed on gold and jewellery items, new guidelines set by Suruhanjaya Koperasi Malaysia (SKM) for Ar-Rahnu services nationwide, as well as the new ruling that prohibits goldsmiths from hiring foreign workers.

Published on: 06 March 2023

According to Public Gold group founder and chairman & Malaysian Gold Association president Datuk Wira Louis Ng, recycled gold is “good” because it is sustainable and does not cause environmental damage compared with new gold as the latter would involve mining and chemical extraction using cyanide.

Published on: 20 February 2023

Malaysia Gold Association (MGA) has hosted the first ever Malaysia Gold Conference 2023 in Malaysia, graced by the presence of the Ambassador of the Republic of Kazakhstan to Malaysia, Bulat Sugurbayev accompanied by Dato’ Wira Louis Ng, Founder & Executive Chairman of PG Group and the President of MGA.

Published on: 17 February 2023

Malaysia Gold Association (MGA) has organised and hosted the first ever Malaysia Gold Conference 2023 in Malaysia that was graced by the presence of the Ambassador of the Republic of Kazakhstan to Malaysia, His Excellency Bulat Sugurbayev and Ambassador of the Republic of Croatia to Malaysia, His Excellency Dr. Ivan Velimir Starcevic, accompanied by Dato’ Wira Louis Ng, the President of MGA along with Dato’ Chiah Hock Yew and Datuk Haji Abdul Rasull Abdul Razak, whom are both the Vice President of MGA, to share with local gold industry players useful information on the current global gold market, gold prospects for year 2023 as well as market trends involving gold in various forms, here at Pavilion Hotel Kuala Lumpur, today.

Published on: 4 July 2022

The Malaysia Gold Association (MGA) team led by Dato’ Wira Louis Ng Chun Hau, had recently visited the National Metrology Institute of Malaysia (NMIM) accompanied by Dato’ Dr Ahmad Sabirin Arshad, President and Group CEO of SIRIM Berhad, together with Dr. Osman Zakaria, Senior Director of NMIM and his key management on 21st June 2022, through an exclusive invitation by SIRIM, an agency under the purview of the Ministry of International Trade and Industry (MITI) of Malaysia, to learn more about the latest gold refinery and purity processes that comply with international requirements through SIRIM certification.

Published on: 4 July 2022

The Malaysia Gold Association (MGA) team led by Dato’ Wira Louis Ng Chun Hau, had recently visited the National Metrology Institute of Malaysia (NMIM) accompanied by Dato’ Dr Ahmad Sabirin Arshad, President and Group CEO of SIRIM Berhad, together with Dr. Osman Zakaria, Senior Director of NMIM and his key management on 21st June 2022, through an exclusive invitation by SIRIM, an agency under the purview of the Ministry of International Trade and Industry (MITI) of Malaysia, to learn more about the latest gold refinery and purity processes that comply with international requirements through SIRIM certification.

Published on: 7 March 2022

As the attacks in Ukraine intensify, there has been a $20.00/oz rally at the start of the Asia session with risk-off all around and higher commodities higher across the board. S&P 500 futures extend their fall to 1.1% and NASDAQ futures are off 1.2% while the US 10-year treasury yields have dropped to 1.68% as being the lowest since early January.

Published on: 7 March 2022

The driver is oil and fears of global stagflation. Oil has surged 10% on Monday with the risk of the US and European ban on Russian products. There are also delays in Iranian talks. Brent was quoted $12.73 higher at $130.84, while US crude rose $9.92 to $125.60.

Published on: 28 February 2022

Russia's central bank on Sunday said it would resume buying gold on the domestic market from Feb. 28, as it undertakes measures to try and ensure financial stability during Western sanctions against Moscow for its invasion of Ukraine. Earlier, Russian President Vladimir Putin ordered his military command to put nuclear-armed forces on high alert as Ukrainian fighters defending the city of Kharkiv said they had repelled an attack by invading Russian troops.

Published on: 1 February 2020

The guide is for reporting institutions that are Designated Non-Financial Businesses and Professions and Non-Bank Financial Institutions (“DNFBPs and NBFIs”) in Malaysia to comply with the requirements in the fight against money laundering and terrorism financing.

Published on: 7 November 2019

KUALA LUMPUR: Bank Negara Malaysia (BNM) is proposing to set a cash transaction limit (CTL) of RM25,000 next year, as part of its initiative to continue curbing financial crimes. A cash transaction limit is the cap on the physical cash amount that can be paid per transaction.

Published on: 14 Jul 2018

KUALA LUMPUR: The Malaysia Gold Association wants investment precious metals (IPMs) and jewelleries to be exempted from the soon-to-be implemented sales and services tax (SST).

Published on: 28 Aug 2018

Government has amend the Goods Exempted From Payment of Salex Tax

Published on: 16 February 2017

New investors flock to gold to insure against geo-political turmoil. Understand why with Gold Investor. Includes contribution from Dr Alan Greenspan.

Published on: 8 February 2017

Public Gold announces World’s first Shari’ah-Complaint physical gold trading company

Published on: 3 February 2017

New investors flock to gold to insure against geo-political turmoil. Understand why with Gold Investor. Includes contribution from Dr Alan Greenspan.

Published on: 13 January 2017

In 2016, investors around the world returned in large numbers to the gold market, as a combination of macroeconomic drivers and pent up demand kept interest in gold high.

Published on: 6 December 2016

The AAOIFI Shari’ah Standard on Gold developed in collaboration with the World Gold Council offers definitive guidance on the use of gold in Islamic finance.

Published on: 19 May 2016

Understanding matters with regards to Goods and Services Tax (hereinafter referred to as “GST”) treatment on investment precious metals (hereinafter referred to as “IPM”).

Published on: 3 Nov 2015

Understanding matters with regards to GST treatment on Approved Jeweller Scheme (AJS).

Published on: 20 May 2015

Understanding matters with regards to GST treatment on Tourist Refund Scheme (TRS).

Published on: 12 Mar 2014

Public Gold group executive chairman, Datuk Louis Ng, said physical gold would no longer be a viable tool for investment and as a hedge against inflation and foreign exchange fluctuations if the GST were to be imposed.