JWA 2021 Jewellery Industry Best Practices

98 | Jewellery World Awards 2021 YLG Bullion Singapore Pte Ltd CATEGORY: By anticipating the needs of its customers and embracing new technologies, YLG Bullion Singapore Pte Ltd continues to rise as one of the biggest non- financial institutions to trade gold and silver bars in Southeast Asia. “Since opening its headquarters in Singapore in 2012, YLG has successfully evolved from being a household name in Thailand into an international bullion-trading powerhouse,” says CEO Pawan Nawawattanasub. True enough, YLG’s income for 2018, 2019 and 2020 increased by 43 percent, 41 percent and 48 percent, respectively, while its total equity rose by approximately nine percent, 12 percent and 16 percent. To achieve such stellar numbers, this wholesaler of gold and silver bars, which it mainly procures from London Bullion Market Association-accredited refineries, employs a number of unique strategies. STRATEGIC ALLIANCES “As a gold trader, we have many competitors such as bullion banks, gold refineries and gold shops. Instead of directly competing though, we aim to strike alliances with them. This enables us to offer the lowest-possible prices without having to directly engage in price competition,” says Pawan. To further stand out in the crowded market, the company offers weekend pricing for customers to hedge their market risks while the international gold market is still closed. The company created a three-tier pricing method to cater to a wider variety of traders. Pure Swiss gold bars are offered to top customers, while bars from Japan, Australia and other non-Swiss sources are offered to mid-range buyers. Secondary bars, which consist mainly of mixed bars that have been bought back from Outstanding Enterprise of the Year – APAC COUNTRY / REGION: SINGAPORE 1