Goldsmiths caution against new standard

THE Federation of Goldsmiths and Jewellers Associations Malaysia has cautioned the Government against the proposed compulsory Hallmarking System, saying some 30% to 50% of goldsmiths and jewellers will be forced out of business if it is implemented. 

Federation president Datuk Choon Yee Seiong said this was because business of local goldsmiths and jewellers was largely export orientated which meant they would lose out in the international market to competitors from China, India, Pakistan, Indonesia and Thailand as the system added to their cost, according to Sin Chew Daily.