Ground Breaking Ceremony: Public Gold Unveils Its World-Class Standalone Gold Refinery Centre In Penang, Malaysia

BATU KAWAN, 8TH MAY 2024 – Public Gold, the leading precious metals trading company in Malaysia has unveiled its very own standalone gold refinery centre, of world-class standards, through a ground-breaking ceremony, here at the Phase 1 Industrial Zone of Batu Kawan, Penang, recently. The event was graced and officiated by His Excellency, Dato’ Wira Louis Ng, Honorary Consul of Kazakhstan in Penang, who is also the Founder and Executive Chairman of Public Gold Group (PG Group), and President of Malaysia Gold Association (MGA).

Since its establishment in 2008, Public Gold has been specialising in B2C precious metals trading businesses, which has now garnered 1.3 million customers throughout Southeast Asian countries such as Malaysia, Singapore, Indonesia and Brunei.

As Public Gold expanded its business into B2B trading and minting, Public Gold Mint operating under PG Group, has been manufacturing a wide array of precious metals of gold and silver, for corporations of both private and government sectors through its product customization services. Managed by a team of in-house experts, Public Gold Mint provides a fully-integrated minting facility involving tooling, design, dies, and production of both gold and silver bullions as well as coins.

In view of the growing demands for gold products worldwide in the recent years, Public Gold sees the need to expand its upstream business, offering refinery facility at greater volume to cater to larger local and international markets. With this upstream expansion, the integrated minting and refining facilities will synergise the whole product supply chain and the Group’s core trading businesses, making it the cornerstones of PG Group’s success.

Seated on a 1.1-acre of land, with an estimated build-up area of 48,000 sq. ft., in the prime industrial zone of Batu Kawan, Penang, this new world-class standalone gold refinery centre of Public Gold is set to produce an annual refining production of 10 tonnes per year, worth RM4 billion – refining precious metals for customers from primary and secondary sources, which could potentially increase up to 20 tonnes per year. Ultimately, this will boost the Group’s revenues to a new level high. The construction of this new facility will commence this month, and set to be completed within 18 months.

Public Gold is currently a Foreign Market Associate Member of the Singapore Bullion Market Association (SBMA). Moving forward, Public Gold Refinery strives to qualify for “The London Good Delivery List of Acceptance Refiners” – a London Bullion Market Association (LBMA) accreditation, to strengthen its market position, globally.
According to Dato’ Wira Louis Ng, Founder and Executive Chairman of Public Gold Group, as well as President of Malaysia Gold Association (MGA), “The establishment of this standalone gold refinery centre will not only boost Public Gold’s revenues in years to come, but also contribute greatly to the state economy by attracting more foreign players and investors from the precious metals industry worldwide to Penang, offering greater business opportunities to local vendors, as well as strengthening Penang as the next global gold industrial hub in Malaysia.”

“Apart from the contribution to local economy, this new refinery facility is set to offer more job opportunities to locals and expats living in Penang. Under a diverse working environment, employees will be exposed to different cultures and expertise through knowledge-sharing amongst co-workers,” Ng added.

– Wendy Kung /Dino