So far this year, it has closed four to five outlets, with 65 remaining. The company has been consolidating its outlets in the country, closing down non-performing ones or those that do not fit the market of a particular mall. Although uncertainties drive customers to these products, those who had wanted to invest in them would probably have already bought what they wanted.” But gold investment products are not something that consumers can easily digest. Tomei has seen a surge in demand for gold investment products this year, he says, without disclosing the percentage of increase compared with the previous year. This year is an auspicious one for marriage, according to the lunar calendar, so that has helped with gold sales as well,” Ng explains. “During Christmas, diamonds are popular while pearls and jades are in demand during the Mother’s Day celebration. He adds that jewellers see demand for different kinds of products during different festive periods. Sales usually increase during the Hari Raya celebrations. Ng says the jewellery business is tied to the festive seasons and its performance largely depends on customers’ “spending mood”. In its second quarter ended June 30, net profit jumped to RM5.64 million from RM485,000 a year earlier. There is still a lot of money in the market, but we have to be able to offer at the right price and at the right time,” he says. “To be honest, in terms of customer visits, the sentiment is still weak. Tomei group managing director Datuk Ng Yih Pyng tells The Edge that the better performance seen this year is largely due to the increase in gold prices, which resulted in higher retail sales prices. The precious metal has gained 11.33% this year and some analysts expect it to continue to rally as tensions between North Korea and the US escalate. The jewellers’ better financial numbers and rallying share prices reflect the strengthening of gold prices amid geopolitical tensions and uncertainties.Īs at last Thursday, gold was trading at US$1,282.35 per troy ounce. The company has also impressed, with net profit for the financial year ended July 31 growing 2.6 times from a year ago. ![]() ![]() Meanwhile, Poh Kong’s share price jumped 48.45% to 72 sen from 48.5 sen between Aug 15 and 27. The surge came after the jeweller announced its earnings for the second quarter ended June 30, in which net profit improved 11.5 times from the previous corresponding period. Tomei saw its share price rise 49.5% to 87.5 sen on Sept 27 from 58.5 sen on Aug 16. However, as consumers usually tighten their purse strings when economic and geopolitical uncertainties linger, will the jewellers continue to shine? They also offered FREE Cash Voucher for customers.LISTED jewellers Poh Kong Holdings Bhd and Tomei Consolidated Bhd have seen a surge in their share prices over the last two months on the back of improving earnings. Poh Kong has offered Warehouse Sale at Atria Shopping Gallery, Mickey & Minnie Sensational Christmas at Paradigm MallGrand, Opening Sale at Genting Sky Avenue, 12.12 Online Revolution, 11.11 Online Revolution Sale and so on. Other than Poh Kong and Diamond & Gold outlets, retail concept stores such as Poh Kong Gallery ,Diamond Boutique, Jade Gallery and Oro Bianco are established to cater for different customer demographics. Poh Kong leverages on the image differentiation of its brands and retail concept stores to meet the needs of different customers. Poh Kong also houses the world-renowned Fine Jewellery such as Schoeffel pearl, Luca Carati diamond jewellery and Moraglione 1922 coloured stone jewellery from Italy. Hemera, Most brilliant 101 cut diamond and world’s only ideal square Angel Diamond are available exclusively in selected Poh Kong. In-house gold jewellery brands include Tranz, Happy Love, Anggun and The Art of Auspicious. Poh Kong offers wide range of yellow, white and rose gold, diamonds and gems jewellery. ![]() Founded in 1976 and listed on Bursa Malaysia since 2004, Poh Kong is the largest jewellery retail chain in Malaysia, reachin g its 100th outlet mark in 2012.
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