Ng (second, right) and Singapore Bullion Market Association chief executive officer Albert Cheng (third, right) purchased a gold bar using a gold automated teller machine (ATM) during the Malaysia Gold Conference 2023. – Bernama photo
KUALA LUMPUR (Feb 17): Public Gold Group has launched its first gold dispensing automated teller machine (ATM), known as Malaysia Gold ATM, at Menara Public Gold, Tun Razak Exchange, here, to enable consumers to purchase physical gold bars conveniently.
Founder and executive chairman Datuk Louis Ng said the company is eyeing to have 50 ATMs this year to encourage the general public, particularly Malaysians, to keep physical gold for long-term wealth preservation.
He said the Malaysia Gold ATM enabled consumers to purchase physical gold bars with 999.9 purity, which ranges up to five grams per bar, at great convenience.
“This machine operates 24 hours a day, seven days a week to cater to ad-hoc demands at anytime of the day with just a push of a button.
“We will put it in high traffic areas such as airports and theme parks where they can buy the physical gold bars, which ranges up to five grams per bar, at great convenience,” he told reporters after the Malaysia Gold Conference 2023 today.
Ng said the ATM would feature astonishing designs from, amongst others, Disney, Marvel Studios, Warner Bros, Juventus, Garfield, Ejen Ali and Monsta, which are perfect not only for personal collection and physical gold trading purposes but also as gifts to family and friends.
Besides that, he said keeping physical gold is an excellent way to hedge against inflation and with the current economic situation in Malaysia, more locals should consider keeping physical gold to safeguard their existing wealth.
Meanwhile, Ng, who is also the Malaysia Gold Association (MGA) president said the inaugural one-day Malaysia Gold Conference 2023 is set to bring the local gold industry to greater heights.
“MGA is honoured to host this gold conference as its annual event to promote the Malaysian gold industry to the community and international players.
“We shall make this a major industry event in this region with the government agencies such as the Malaysia External Trade Development Corporation, International Trade and Industry Ministry and Malaysian Investment Development Authority,” he added.
Established in 2014, MGA is the Malaysian association able to represent the precious metal industries, such as gold, silver and platinum, from upstream to downstream activities, including refining, manufacturing and minting, trading, jewellery smiths, pawnbroking, assaying and logistics. – Bernama