KUALA LUMPUR: Malaysia Gold Association (MGA) has announced the appointment of Datuk Wira Louis Ng Chun Hau as its new president for two years until March 2022.
Ng is Public Gold Group founder and executive chairman.
The association has also announced the appointment of several key board committees. They included Anuar Sahrim, Datuk Abdul Rasull and Chuah Hick Yes as vice presidents, as well as Datuk Abdul Wahab as secretary and Syukor Hashim as treasurer.
Ng said as of late, gold had set a new record of close to above the US$2,000 threshold globally on August 5 this year.
The situation was expected to spur the development of the country's economy, he said in a statement today.
In view of that, Ng said MGA would continue to bring forward the industry feedback to local authorities and welcome new industry players and authorities on board to further grow the country's precious metal industry to greater heights.
"We hope that the supply chain could catch up with the current demand domestically and internationally in time. MGA represents the local precious metal players and we are keen to welcome more new members to come join us.
"We intend to increase promotional activities locally and regionally (to neighbouring countries) after the international borders reopen."
He added that the global lockdown to combat the Covid-19 pandemic had caused demand to outstrip supply.
"Not to mention, it has also affected retailers, wholesalers, manufacturers, traders and ArRahnu providers in general," he said.