SAO NEWSLETTER. HAPPENINGS: Launch of new SAO Logo PAGE 5 PAGE 3

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1 SAO A quarterly publication by Singapore Assay Office MICA(P)156/02/2011I Issue04I Jan2012 NEWSLETTER DISCOVER SINGAPORE Through Gold PAGE 3 HAPPENINGS: Launch of new SAO Logo PAGE 5

2 CONTENTS INDUSTRY S NEWS Discover Singapore Through Gold 3 HAPPENINGS Satya Jewellery: Certified by SAO Hallmarking Scheme 4 Superb Turn-Around Time for Assay-Hallmarking Service 5 New Logo for Singapore Assay Office 5 SAO Hallmarking Scheme 6 Certified Retailers 7

3 Industry s News Discover Singapore through Gold Gold has been on a bull run in the past 3 years. In 2009 and 2010, gold price had an impressive rally around 24% and 28% respectively. In 2011, gold price shot up 11%. Despite the recent gold correction, Mr. Billy Chiam, Director of Gold Price Singapore Pte Ltd is confident that gold prices willcontinuetoriseinthemidtolongtermasgoldisahedgeagainstinflation. Gold Price Singapore Pte Ltd is an online store that sells high quality gold bars and coins manufactured by PureGold.sg. The gold bars and coins are fully designed, developed and made in Singapore. They bear the design of Singapore landmarks and cultures with the aim of promoting Singapore to the rest of the world. Designs such as the Merlion, Singapore Orchid, Marina Bay Sands, the Esplanade, traditional tricycle etc. Billy has proudly claimed that their gold products are 100% batch assayed and hallmarked by Singapore Assay Office. With SAO hallmark imprinted on their gold products, it gives their valued customers 100% confidence on its purity and quality. With an established local foothold, Pure Gold Singapore has begun her endeavor with export of her SAO hallmarked products to the Asia Pacific region. SAO Newsletter I 3

4 Happenings SATYA Jewellery (Little India) is certified by SAO Hallmarking Scheme Visitors and consumers are spoilt for choices when they buy gold jewelleries in Little India. Along less 500 meters of Serangoon Road between Tekka Market and Kitchener Road, there are more than fifty gold jewellery stores packed with fascinating Indian design chains, bangles, rings, etc. As a result,almost all of these storesresorted toprice war, with some stores offeringtheirprice as much as 10% below the Singapore Jewellers Association board price. However, this may not necessary be an advantage to consumers as some stores might compromise in the fineness of the jewellery or add miscellaneous charges to consumers purchases. Mr Mayalagu Rakappan, Director of Satya Jewellery strongly believes that to sustain business continuity and achieve business growth is to deliver good quality jewellery to consumers. He said, In Satya Jewellery, we send 100% of our articles to Singapore Assay Office (SAO) for batch assay and hallmarking to ensure our fineness of articles. SAO provides us the assay results so that we could closely monitor and continuously improve our quality. With SAO hallmark on the articles, Satya Jewellery s customers are assured of the fineness of gold in the articles. Being certified by SAO, Satya Jewellery demonstrates her achievement on a high level of quality control and her commitment to her customers. With the help of SAO, we have tremendously raised our position among the jewellery stores in Little India. claimed Mr Rakappan. SAO Newsletter I 4

5 Happenings Superb turn-around time for assay-hallmarking service Since January 2011, SAO has invested on manpower and asset to achieveaturn-around time of 5 days or less for our assay-hallmarking service. As mentioned by Mr Ho Nai Chuen, President of Singapore Jewellery Association (SJA) during SJA Annual Dinner 2011, SAO has improved their Turn-Around-Time and this greatly aids the industry. SAO will continue to work towards achieving a higher reduced Turn-Around-Time for better customer satisfaction. New logo for Singapore Assay Office SAO has launched a new logo to be used for all marketing and publicity materials in We welcome all certified retailers and customers to request the high resolution file from us for their publicity materials. SAO s management and staffs would like to take this opportunity to wish all our customers a Happy and Prosperous Chinese New Year! SAO Newsletter I 5

6 About SAO SAO Hallmarking Scheme Singapore Assay Office (SAO) is an independent test laboratory that test precious metals such as gold, silver, platinum and palladium purity. The SAO Hallmarking Scheme is a voluntary scheme where manufacturers, traders, and retailers of gold jewellery submit their jewellery pieces to SAO for assaying and hallmarking. Under this scheme, SAO will first screen the batch of jewellery using X-ray fluorescence method to ascertain the homogeneity of the batch of articles. Lower fineness items would then be sampled for fire assaying, a destructive method practises by worldwide reputable assay offices. Fire Assay Process When the samples of the batch are up to or beyond the stated standard fineness, SAO will hallmark every piece of the jewellery in the batch with Singapore Assay Office (Lion Head) Mark to attest to its quality. The complete set of hallmark consists of the SAO mark which bears the symbol of a lion head,thestandardmarktoindicatesthefinenessaswellasthe jeweller s mark. X-Ray Fluorescence SAO Newsletter I 6

7 Useful Information SAO Hallmarking Scheme Certified Retailers The following prestige retail shops are certified by Singapore Assay Office for gold jewellery of fineness standards 999, 916, 750, 585 and 375. Look out for the Lion Head hallmark in their gold jewellery. Bao Jewellery& Service 1 Park Road,#02-79 People s Park Complex BatuPahatGoldsmithPteLtd 2BuffaloRoad BoonLayGemsPteLtd 1JelebuRoad #02-04BukitPanjangPlaza BoonLayGemsPteLtd Blk502JurongWestAve1# BoonLayGoldsmiths&JewellersPteLtd 221BoonLayPlace# BoonLayShoppingCentre ChanFoonJade&Jewellery 245SouthBridgeRoad Chin Cheong Goldsmith(Nex Shopping Mall) 23 Serangoon Central#B2-34 Chip Lee Goldsmith Jewellery Blk 1 Joo Chiat Complex# Blk106#01-169YishunRingRoad 1 Park Road,#01-34 People s Park Complex Blk925#01-245YishunCentral1 GekPohGoldsmiths&Jewellery 762JurongWestSt75#01-278GekPohShoppingCentre Golden Chance Goldsmith Pte Ltd 845 Geylang Road#02-42 Tanjong Katong Complex Golden Watch Gold& Jewellery 1 Park Road#01-79B/79C People s Park Complex HarlynGems&JewelleryPteLtd 1JurongWestCentral2#01-01JurongPointShoppingCentre HengHengGold&DiamondJewelleryPteLtd Blk703AngMoKioAve8# /41 Kim Poh Hong Goldsmiths& Jewellers Pte Ltd 3 Pickering Street#01-48/49 China Square Central Ming Seng(Joo Chiat) Goldsmiths Blk 1 Joo Chiat Road# /47 On Cheong Jewellery 251 South Bridge Road 239/241 New Bridge Road PohHengJewelleryPteLtd 1 Park Road,#01-17 People s Park Complex 930 Yishun Ave 2#01-27/28 Northpoint Shopping Centre Blk 186 Toa Payoh Central# Marine Parade Road#B1-109/110 Parkway Parade Blk702AngMoKioAve8# OrchardRoad#01-03OrchardShoppingCentre Blk 214 Bedok North Street 1# Kitchener Road#01-04 City Square Mall 90 Hougang Ave 10#01-30/31 Hougang Mall 2 Jurong East Street 21#01-26/27 IMM Building 1 Sengkang Square#01-05/06 Compass Point 1 Woodlands Square#01-06/07 Causeway Point 3155 Commonwealth Avenue West#03-46 The Clementi Mall Tampines Central 5#01-03/04 Tampines Mall Raja King s Goldsmith & JewellersPteLtd 149 RochorRoad #01-16/17 Fu Lu ShouComplex Royal Dragon Jewellery Pte Ltd 1 Jurong West Central 2#01-09/10 Jurong Point Shopping Centre Satya Jewellery Pte Ltd 79 Serangoon Road TengHuatJewelleryPteLtd 211NewUpperChangiRd# Tin Sing Goldsmiths(Pte) Ltd 203/205/207 South Bridge Road Wanmei Goldsmith& Jewellery 221 Boon Lay Place# Boon Lay Shopping Centre SAO Newsletter I 7

8 Singapore Assay Office 249 Jalan Boon Lay Singapore Tel: (65) / Fax: (65) sao.helpdesk@stengg.com Website: