The Finance ministry has agreed to accept a lower profit appraisal ratio on jewelry sales, it was reported. The Thai Gem and Jewelry Traders Association had complained about the 15 percent profit appraisal and had on numerous occasions urged the Revenue Department to lower the ratio to two to three percent of sales. The new 5 percent profit appraisal was reached after the trade association cited competition and smaller profit margins from 1985 to 1988.
Smuggling of gold bars has shifted from Bangkok’s international airport to Thailand’s southern land border, according to customs officials. In the 1989 fiscal year, 114 kilograms of gold bullion worth 50 million baht (2 million U.S. dollars) were confiscated.
Thai jewelers too like to get away from the city! Just 50 minutes from Bangkok, a world-class 27 – hole golf course at Sawang Resort Golf Club in Petchburi province is far enough from busy Bangkok. Sawang Maneepairoj of Sawang Export Co. chairs the project, which is said to be a prime investment in terms of value and the quality of life.
Ninety – three tourists wrote to the Tourism Authority of Thailand to say they were either overcharged for their jewelry or unknowingly bought fakes. In the first five months of this year, jewelry rip – offs accounted for 39 percent of the total complaints which also involved travel agencies and accommodation problems.
Rubin & Son has been appointed as the exclusive distributor for Tri Electronics, Inc.’s high quality testers in Europe and Hong Kong, according to a company press release. Recognized for their reliability, accuracy and high performance, Tri Electronics products include: the Diamond Beam 1 Professional Diamond Tester; the G-XL-18 Portable Gold Tester which quickly determines gold karat values from 6 to 18 karats; and the G-XL-24 Gold Tester for high karat values up to 24 karats. For more information, contact: Rubin & Son Hong Kong Ltd., Kimley Commercial Building, Flat B-C, 6th Floor, 142-146 Queen’s Road, Central, Hong Kong. Fax No. (852)5-458862.
The Customs Department has agreed to improve procedures involving imports and exports. Several measures were raised by the Customs Cooperation Council which convened in Brussels in late June that favored uniform regulations regarding paperwork and information among customs agencies.
According to new Sri Lankan regulations which came into effect August 1, gueda buyers are required to register with the State Gem Corporation Gueda Trade Center in Ratanapura, Sri Lanka within three days after their arrival in that country. All transactions will take place only at the trade center.
Speaking on the first anniversary of the Thai Diamond Manufacturers Association, TDMA president Chirakitti Tang said: “Conpared with other countries in the region where cost of labor is cheap, Thailand has the highest potential because labor is easy to train.” Chirakitti, also managing director of Oriental Lapidary Co., said the company’s second factory was to be opened in August. It is expected to handle 32,000 carats of diamonds a year and employ some 500 workers.
Mikimoto of Japan could shift its offshore manufacturing plant in Hong Kong to Bangkok in anticipation of China’s takeover of the British colony in 1997, according to the Bangkok Post. Senior managing director Ryo Yamaguchi was quoted as saying: “Thai companies usually copy Hong Kong designs which is unacceptable in Japan. We don’t buy Hong Kong designs. Some Thai companies have started to employ Italian and French designers and this has helped considerably. I thing Thai companies should make a single product of high quality rather than make 10 low standard goods…that is what the Japanese want.”
A collection of fossils from the Arctic shore of northern Siberia has been purchased by the Supermarket of Gems in Bangkok. Dr. Yuri Bogomolov, Chief Researcher of the institute of Geology and Geophysics, USSR, confirmed the following: “The pieces are form the Mesozoic period ranging from 66,000,000 – 245,000,000 years ago. The collection consists of very rare and unique pieces.”
Chopstick stand of Tiles
Take your pick of either chopstick stands of tiles made from genuine stones such as green quartz, unakite, rhodonite, jasper etc. both items will be available soon at Gemcrafts, 99 Soi Sopon, sukhumvit 68, Bangna, Phra – Khanong, Bangkok, Thailand
Book Donations
Approximately 300 books on jewelry and jewelry designs have been donated to the Asian Institute of Gemological Sciences by an anonymous donor. AIGS Vice-President and Director of Education, Mr. Richard W. Hughes had the following to say: “We wish to express our sincere thanks to the donor for making such a generous offer. Some of the books are very rare and are almost priceless.”
ICA Gazette
Readers who would like to know what is going on in the color stone world can subscribe to the ICA Gazette at the following address:
Cheryl Kremkow
ICA Gembureau
609 Fifth Avenue No. 905
New York, NY 10017
USA
Tel: 212 688 8452
Fax: 212 371 1964
Country Regulations
A useful report can be obtained from the ICA head headquarters with write ups on the import, export regulations of gems and jewelry for each country. However, this is probably available to ICA members only so if you are not a member yet – you can join ICA by writing to:
Mr. E.J. Petch
President
International Colored Gemstone Association
Mainzer Strasse 56 – 58,
P.O.B. 12 27 70
D 6580 Idar – Oberstein
W. Germany
Phone: (06781) 4 47 35
Fax: (06781) 4 61 14
New President
Mr. Issi Beck has been elected President of the Antwerpsche Diamantkring S.V., also known as the Belgian Federation of Diamond Bourses. Congratulations! We wish you well.
Outgoing President
Mr. S. Zucker has been replaced by Mr. lssi Beck after 14 years of dedicated service. Mr. Zucker retains still the office of the President of the Diamond Club of Antwerp. This will keep him busy.
Far East Mission
The Belgian diamond industry is planning a mission to the Far East. Thirty of the top Belgian diamond dealers will participate in seminars for local jewelers and the press. A pilot trip is expected to take place in October to Thailand.
Obituary
Mr. Leon Hendrick, the first President of the Diamond High Council of Antwerp. As President of the Syndikaat der Begische Diamantnijverheid (SBD), he played an important role in the establishment of the Hoge Raad, now in its 16th year.