Monday, 11th December 2006 (3083 views)

Experts from the Malaysian gold jewellery industry have given their insights into where the sector is heading as we approach 2007.

Datuk Eddie Choon, the executive chairman and group managing director of Poh Kong Holdings Bhd, runs Malaysia's largest jewellery retail chain and says he is confident that there is still glitter in gold.

He says his company are continuing to expand and that there is room to grown even though gold prices are high.

Mr Choon told Malaysian news site The Star: "For Poh Kong Holdings, business has actually improved whatever the prices. When customers come to our shops, they come prepared to spend a certain amount. They don't come to buy a certain weight of gold, but to see how much value they can get.

"Even if the gold price is higher, customers will still pay the same amount and get something lighter."

He said he would rather sell gold in a retail arena then export it to other countries because of a failed experiment with the Middle East once.

He found that the consumers there thought the gold too expensive due to its better workmanship.

 

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