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Public Gold tips ‘jump’ in gold prices soonby
by Justin Yap, justinyap@theborneopost.com. Posted on August 7, 2012, Tuesday

Gold prices have been on the rise since year 2001 from US$280 (RM869) per ounce to USD$1,900 in September 2011, moving steadily with a typical healthy consolidation of 10 years since 2001.
         Datuk Louis Ng
KUCHING: Public Gold Marketing Sdn Bhd (Public Gold) anticipates for another ‘jump’ in the yellow metal market with higher expectations for a price increase this time than the previously recorded US$1,900 (RM5,896) per ounce.

It predicted the gold market to go for another round of consolidation in the next one or two years which in return would contribute to the increase of gold prices.

“I can see that the jump will surely happen and is only a matter of time before it takes place,” said Public Gold founder and executive chairman Datuk Louis Ng to The Borneo Post.

Gold prices had been on the rise since year 2001 from US$280 (RM869) per ounce to USD$1,900 in September 2011, moving steadily with a typical healthy consolidation of 10 years since 2001.
“For the last 40 over years, the worldwide stock market enjoyed a fantastic or never-before-occurred super bull run. Investors are so used to the security market investment until most of their financial resources are either directly exposed to the stock market, mutual fund, unit trust or retirement savings in the form of Employees Provident Fund,” said Ng.

“As those funds are indirectly invested in the stock market, I would say that the exposure of the investors towards the gold market is almost close to zero,” he added.

Another factor that would contribute to the increase of gold price is if the Central Bank of Europe or Federal Reserve of US goes for one more round of quantitative easing (QE).

“If we look at the current situation in Europe, many European countries still could not find an appropriate solution to solve the huge debts that they currently owe. Therefore, there’s no easy way out for everyone in tackling the crisis other than solving it through the tough and challenging approch,” Ng pointed out.

“Gold price will definitely be on the rise if mankind continues playing the game of printing money,” he added.

“In terms of gold investments, i don’t think the general public is well educated on that aspect and that they should be given the exposure because there are still plenty of rooms for growth.”

Public Gold is the first Malaysian company to produce certified gold and silver bullion bars locally. Since its inception in 2008, it has now 18 branches throughout Malaysia, covering almost every state with at least one or two customer service centres.

In terms of expansion, Ng pointed out Brunei, Indonesia, Thailand and Singapore for his short term plan. “In addition, we need to establish offices in those countries first before moving further to countries, namely China, Vietnam or India.”

Locally, it has a branch in Kuching and will soon open its Kota Kinabalu branch towards the year-end.
“If we are unable to penetrate the Brunei market, we are most likely to replace it with Bintulu. Till date, we have approximately 977 dealers encopassing Sabah and Sarawak,” Ng highlighted.

Asked if there were any plan for public listing in the near future, Ng said Public Gold did not intend to get listed at the moment as “we are still in the high growing phase and is quite comfortable with the cash flow and don’t feel the need to raise fund.”

“However, we may get our vehicle company, Public Safe, to go for public listing due to its straightforward business operation module. It only involves safety deposit boxes renting and guarantees a rather secure return of profits unlike Public Gold which comes with an inconsistent return due to the unstable gold prices.
“Hence, it is easier and much more convenient for Public Safe to be listed first,” Ng concluded.

Original Source : The Borneo Post Online


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