Sawang to sell 1.25 million shares

          The Sawang Export board in May voted to sell 1.25 million shares at B65 (US$2.60) to the public through Citicorp Finance & Securities.

          In April and May 1990, the board riled to issue 17 million shares to increase the firm’s capital from B30 million (US$1.2 million) to B200 million (US$8 million). It has already allotted nine million shares. The board has yet to distribute the remaining the 6.75 million shares.

          An investment of B15 million (US$600,000) from the increased capital is planned for  Sawang Jewelry Manufacturer Co to lift its production capacity. Sawang Jewelry Manufacturer has also announced plans to form a joint venture with Hermann A Trautz of Germany, a manufacturer and distributor of jewelry, later this year.

 

CSO postpones TDMA meeting

          De Beers Central Selling Organization postponed its May 22 meeting with the Thai Diamond Manufacturers Association (TDMA) due to Thailand’s political crisis.

          TDMA President Chirakitti Tang advised CSO executives to delay the meeting until late July. “Although any meeting with the CSO is important, we considered that our discussions on the diamond industry could wait until a later date,” he said.

          An increased supply of diamond rouge, local polished sales and support from De Beers for the local sector is a diamond bourse is established were among the items on the agenda. 

 

Gemstones may lose GSP Privileges in US

          Precious stones might have their Generalized System on Preferences (GSP) privileges revoked if the volume of Thai export surpasses the limit set by the US Commerce Ministry.

          The export value of Thai gemstone to the US is US$72 million – well below the limit set by the limit set of US government of US$97 million. However, market share of Thai gemstones has commanded more than half of total US gemstone imports.

The US government can revoke the privileges if a trading partner accounts for more than 50 percent of the US import market for any particular product.

          An Official of the Thai Commerce Ministry told the Nation newspaper that the Thai government is discussing the matter with US commerce officials.

 

Greatest buys art deco designs

          Greatest Manufacturer and Export Co, a major producer of silver marcasite jewelry in Thailand, recently bought 2,000 molds of art deco jewelry designs from Norbert Maul in Pforzheim, Germany.

          Norbert Maul stopped its production in Germany because of the high cost of labor, said Oran Koohapremkit, managing director of Greatest.

          Mr. Oran said he paid Baht 3 million (US$120,000) for the rights to the designs. “That price included the original molds for all of them. They were made in 1920s and the craftsmanship is very high. Each mold was made by hand and has a lot of detail. It’s just like a work of art.”

          The first production of the art deco designs will make its debut at the JA New York show in July. All of the pieces will be made of silver and decorated with enamel, inexpensive semi-precious stones such as garnet, marcasite and topaz, or cubic zirconia. The pieces will wholesale for $5-20.

 

Khmer Rouge bans UN from gem area

          United Nations officials banned from entering Khmer Rouge territory of Cambodia in June watched as Thai gem traders drove past Khmer Rouge leaders on their way to ruby mining sites in Pailin, AFP reported.

          Barring the UN officials from entering the controlled zone is a violation of the Cambodian peace accord. Adding to the ire of the UN officials was the free flow of traffic by Thai businessmen through the gem-rich area. At three sides UN officials noticed bulldozers and diggers loading material onto trucks to be driven across the Thai-Cambodia border.

 

Efficiency urged for gold mining

          The adoption of a multiple land use policy and an introduction of a more efficient system for awarding licenses for gold mining would aid in boosting the gold production industry, a former adviser of the Department of Mineral Resources told the Nation recently.

Dallas Davis, adviser to the department from 1985-89 under a Canadian program, made this remark after the department announced that it would examine decreasing the royalty on gold mining.

If the government disregards these two suggestions in combination with the department’s consideration it “will be nowhere near the investment needed to make notable progress towards offsetting the growing import cost with local production.”

The department also added that it will consider enforcing policies to promote industries such as the jewelry and ornament industry to further enhance gold. 

 

EC market requires exporters to adapt.

Thai gem and jewelry exporters who want to succeed in the European single market must reassess their marketing production and distribution strategies, said Albert Maes, head of the European Commission’s Delegation in Thailand.

          “Exporters should take a global approach toward the free flow of goods, which will be more efficient,” Mr. Maes said. “The single market will offer many more opportunities but the competition will be stiff.”

          Mr. Maes recommends Thai companies to from joint ventures in Europe. “Especially in a market like jewelry it’s very important to be aware of the changes in fashion. If you’re in the market it’s much easier to follow the trends than if you’re approaching it from the outside. Also, if Thai firm invests in Europe, then the Thai firm can control the transfer of technology much better.” 

 

Sri Lankan traders seeking more rouge

          Sri Lankan gem traders have asked the government to ease import restrictions of rouge gemstones, according to the Reuter report. The move would double the $53 million annual export of gems and jewelry and help the Sri Lankan industry compete with Thailand, according to Nowfel S Jabir, Chairman of the Sri Lankan Gem Traders Associate.

“There are 35,000 cutters in the country,” Mr. Jabir told Reuter. “There is not enough rouge in Sri Lankan for them to work on.”
          The association wants the government to drop 25 percent import duty for rouge gemstones. The duty is waived only if a trader can guarantee the stone will be re-exported.

“Not everyone can give the guarantee,” Mi Jabir said. “You need to know people in the government. And we want to attract even the smallest trader.” 

 

Patent issue thorn in US-Thai relations

          A US State Department diplomat visited Bangkok recently and warned Thai officials that the US remains dissatisfied with Thailand’s efforts to upgrade its protection of US intellectual property rights.

          Arnold Kanter, undersecretary of state for political affairs, met the members of the then Prime Minister Suchinda Kraprayoon administration.

          For the second consecutive year, US Trade Representative Carla Hills listed Thailand as one of 22 countries inadequately safeguarding US intellectual property rights.

          “We are firmly committed to achieving satisfactory results in these countries and we are prepared to take every step that will move us towards that goal.” UPI reported Ms Hills as saying.

          Although Thailand’s National Assembly in February extended protection 20 years from the registration date, Ms Hills said, “The law does not provide protection for existing patented products that have not yet been marketed in Thailand and contains extremely broad compulsory licensing provisions.”

          A Thai Diplomat in Washington said that Thailand intends to further enforce its already implemented plans; however, more time is needed to pass legislation. 

 

Jewelry stolen from Central

          Jewelry worth B1 million (US$40,000) was stolen from a Central Department Store in Thon Buri recently, police said, when a salesperson stepped away from an unlocked showcase containing diamond bracelets and rings.
          Police suspect three well-dressed men stole the merchandise. 

 

Gold shop owner killed in robbery

          A gold shop owner was shot to death in Songkhla who stole gold items worth about B1 million (US$40,000) and B600,000 (US$24,000) in cash.

          Bunsua Sae How, 49, owner of Thaweesup gold shop in the Sadao district was shot six times in the chest with the 11mm pistol.