Public Gold is a SCAM? Or is it?
Hi all! A quick question – is Public Gold a scam?
That’s why you are here, am I right?
On this page, I will share my findings regarding the topic above. Yes, I also had the same thoughts when I came across this company that sounds eerily similar to one of the banks in Malaysia. Is Public Gold a scam or is it a legitimate company? Let’s find out.
1. Been around since 2008
A quick check on the background of Public Gold revealed that Public Gold was incorporated in 2008 and has been around for more than 10 years. The founder of Public Gold is Dato’ Wira Louis Ng, who is a visionary and an approachable person. His Facebook page link is as follows should you are interested to know him more: https://www.facebook.com/PublicGoldFounder.
The HQ of Public Gold is located in Bayan Lepas, Pulau Pinang and a quick glance at how it looks is as follow:
In addition to this, Public Gold also has branches all over the country which makes it very accessible regardless of where you are:
Not to forget mentioning is how PG is also expanding to neighboring countries such as Indonesia, Singapore, Brunei, and many more to come.
2. Collaboration with Pos Malaysia since 2015
Another interesting observation I came across while finding more information is the fact that PG collaborates with Pos Malaysia in launching gold products. The following pictures show the signing of a memorandum between PG and Pos Malaysia:
If you are interested to look at the Pos Malaysia products, kindly refer to the picture below:
3. World recognition via LBMA
The gold products from PG are recognized worldwide due to LBMA accreditation. In short, LBMA stands for London Bullion Market Association and this entity defines itself as “the global authority on precious metals”. Hence, products by PG are always available for trade (buy or sell) worldwide and in fact, we can find LBMA’s logo in all LBMA gold products. The following picture depicts the signing ceremony to indicate the official recognition by LBMA:
4. PG products are Ar-Rahnu friendly
Ar-Rahnu refers to institutions that provide Islamic pawning services should we pledge gold products for quick cash. The advantages offered by these institutions include low service fees, higher rates per gram, and flexibility in completing the pledging scheme. Due to PG being a familiar product in Malaysia, almost all Ar-Rahnu institutions accept PG products without complex restrictions.
If you are interested to know more about this feature, kindly visit the page written by my mentor, Tuan Zulkifli as shown below:
https://www.mohdzulkifli.com/2021/05/pajak-emas-atau-jual-emas-mana-yang-lebih-baik/
5. Shariah compliance
Though not compulsory, PG has taken the trouble to ensure that their buying/selling processes fulfill the Syariah regulations. By doing so, they set themselves apart from other providers and add another level of security among the users. The certificates that prove their Shariah compliance are shown below:
6. Collaboration with Aurora Italia
Apart from providing a platform to buy and sell gold products of 99.9% purity, PG also offers gold jewelry products by collaborating with Aurora Italia.
The products under this category can be fully accessed from the link as shown below: https://www.auroraitalia.net/auroses-series
7. E-commerce platform that gives up to 3.5% rebate
Next, PG also expands its service by providing an e-commerce platform known as PG Mall. The link to the e-commerce platform is as follow: https://pgmall.my/
PG Mall sells products such as grocery items, electronic items, and many more. Numerous promotions are available on monthly basis such as Free Shipping, Extra Discounts, etc. PG Mall also rewards its customers by giving cash rebates for every purchase and also for purchases made via the links shared to our social circle.
8. The only Gold Museum in SEA
Moving on, PG also has a gold museum located in Penang. It is the only museum in whole South East Asia with its FB page that can be accessed as follow:
https://www.facebook.com/pggoldmuseum/
9. In 2012, PG was in BNM ‘Alert List’
Despite all these features mentioned above, PG also was once questioned by Bank Negara Malaysia (BNM) in the year 2012 and was listed under “Alert List” to protect the interests of investors.
Upon knowing this, PG team did not just ignore this fact but rather, quickly fixed an appointment with BNM authorities and explained their business plan. Soon after, PG has been taken out of the list. This news was featured on The Edge Markets webpage as follow:
https://www.theedgemarkets.com/article/public-gold-bnm%E2%80%99s-alert-list
So, at this point in time, PG is still non-listed in BNM alert list, thus indicating that PG is not a scam.
In conclusion, PG is a solid company with a long history of establishment in Malaysia. People are getting more traction with PG where there are at least 600,000 gold savers across Malaysia, Singapore, Indonesia, Brunei, and many more as of this writing. I have also presented this topic over at my YouTube channel, as follow:
Kindly watch this video for additional info and do get in touch with me should you require further clarification. With all this information, I sincerely hope that I have enlightened few things about PG and whether is PG a scam or not. As mentioned previously, I am always available to answer your queries. Just click on the link below and we can chat over WhatsApp.
I have also written another blog regarding this topic here: https://diversifywithgold.com/gold-investment-singapore/
Save gold today; Gold will save you tomorrow.
Naresh G
Your Public Gold Priority Dealer
PG00197410
WA link: http://nak.la/wachatng