History About P.W. Gold & Silver Ornament Merchants Association
The gold and
jewellery industry in Penang is more than a hundred years old and
has been the main
contributor to the Malaysian gold and jewellery industry. However, the
Federation of Malaya government implemented the Taxation Act in 1954 which
incurred high cost for delivery of gold and silver jewellery from Penang to
Province Wellesley of Peninsular Malaysia.
This forced the
industry players to migrate to Province Wellesley to continue their business.
The businessmen had an enormous task in setting up their factories; and manage
the operations as Province Wellesley was not as developed as Penang. As years
passed, the businessmen gradually adapted to the new environment.
The secret of their
success was contributed by team dynamics, sheer hard work and many long
business discussions. Together they built the industry for the benefit of all
the manufacturers and the welfare of the industry. Later, Seberang Perai Gold And
Jewellery Business Association was established.