MGA Targets RM100 Mln Turnover At Inaugural Malaysia Gold Festival 2026
KUALA LUMPUR, Aug 18 (Bernama) -- The Malaysia Gold Association (MGA) is targeting RM100 million in turnover from the three-day Malaysia Gold Festival (MGF) 2026, scheduled to be held from Sept 18 to 20 at the Kuala Lumpur Convention Centre (KLCC).
MGA president Datuk Seri Louis Ng said the target would be driven by a combination of business-to-business (B2B) and business-to-consumer (B2C) sales during the festival. “We do B2B and B2C. B2B sales are very large, while B2C sales may be on a piece-by-piece basis. So, we have a combination of both business entities in this case,” he told reporters at the MGF 2026 press conference and official launch of the festival here today.
Ng said MGF 2026 will be the first time the event is being organised on a grand scale, with MGA targeting 70 local and international exhibitors across the gold and jewellery value chain, with about 45 already registered so far. According to Ng, the festival evolved from an initiative that began six years ago. In 2020, MGA introduced the 916 Malaysian Gold Cultural Day, which is celebrated every Sept 16 to recognise Malaysia’s gold culture, promote locally crafted gold jewellery and strengthen appreciation for Malaysian craftsmanship.
“The festival is more than an exhibition, as we are taking efforts to encourage Malaysians to support Malaysian gold and invite the world to discover what Malaysia has to offer. Our vision is to establish MGF as a premier annual gold and jewellery event in Southeast Asia, while positioning Malaysia as the region’s strategic gold trading and jewellery hub,” he said, adding that MGF 2026 is expected to attract between 10,000 and 15,000 local and international visitors.
On the industry outlook, Ng said jewellery demand has started to pick up as gold prices eased from their previous highs, with the recovery also visible in the domestic market. “For the last three to four months (this year), we see demand and sales for jewellery starting to pick up, even in our local market,” he noted.
MGA also revealed that it is in the final stage of developing the Malaysia Gold Standard (MGS), the first initiative under the Malaysia Gold Industry Principles (MGIP), to be launched during the festival in September.
He said the MGIP, which comprises eight codes covering various segments of the country’s gold industry, including refining, manufacturing, trading and Ar-Rahnu, encompasses the gold industry ecosystem in Malaysia except for mining. Ng said seven codes have been completed, while the eighth, which relates to shariah, requires more time as it represents a new element for the global gold industry.
-- BERNAMA