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Sunday, June 22, 2008
DMCC Launches Pearl Jewelry Design Course
Phu Quoc pearls may not be what they seem
At the Dinh Cau night market, where tourists often meander after a day at the beach, pearls are sold at same booths as souvenirs and toys for only a few hundred-thousand dong.
Dozens of stalls at the Ham Ninh Market sell pearl earrings for VND10,000 (US$0.6) apiece alongside snacks and drinks.
One pearl necklace costs VND300,000 ($18) while another that looks nearly identical costs VND3 million ($180).
Market vendor Hong Dao said the latter was made of real Phu Quoc pearls, worth much more than the Chinese pearls used to make the cheaper necklace.
Khong Thi Thanh Truc, a partner in a Japanese-Vietnamese pearl company, said Phu Quoc pearls are 10 times more expensive than Chinese pearls.
Vo Van Doi, a pearl trader in An Thoi Town, said he had just sold a 12-millimeter pearl to a foreigner for VND15 million ($903).
Doi said it was not easy to find genuine Phu Quoc pearls because fakes have flooded the market.
He explained that fake pearls were easy to make but could be discovered by rubbing two pearls together.
Fake pearls would loose their enamel this way, he said.
Doi also said that putting a flame to pearls was an easy way to tell a fake as imitation pearls would shrink or be deformed by high heat.
But few shop owners would allow their pearls to be tested that way, he said.
A veteran trader on the island, Doi said the local pearl market is more complicated than ever as shops don’t provide credible evidence of the origins of their pearls.
And the fake pearls are everywhere, he said.
Even fishmongers and motorbike drivers often approach Doi with cheap fake pearls, asking him to sell them to tourists for a commission.
As an established trader, Doi said he always refuses such offers.
And it is not only fake pearls or Chinese imports that are hindering the island’s reputation, but even some Phu Quoc pearl companies now sell lower-quality freshwater pearls as opposed to those taken from seawater oysters.
Phu Quoc is located some 115 km off the coast of Rach Gia, capital of the Mekong Delta province of Kien Giang.
Wednesday, June 18, 2008
Pearl Essence Dubai details unveiled
Jewellery designers from all over the world are set to descend upon Dubai next year for what is dubbed as the Oscars of pearl jewellery design, the Dubai Multi Commodities Centre (DMCC) announced on Tuesday.
“Pearl Essence” – an International Pearl Jewellery Design Programme, is a global design initiative for pearl jewellery initiated by DMCC, a government-backed commodity marketplace that seeks to revive the pearling tradition in the UAE and create a platform for the coloured stones trade.
Ahmed Bn Sulayem, Executive Chairman of DMCC, who launched the event in a press conference, said,“Dubai’s pearling industry has always been linked to the Gulf region and the outside world. It’s not a self-contained city. Dubai flourished the day it opened its doors and relaxed duties to merchants,” he said.
Highlighting Dubai’s long pearling tradition, Bin Sulayem said the event is an opportunity “to capture talent from the region and other parts of the world in designing pearl jewellery through competition.”
Organisers are expecting 1,000 entries from two categories – professionals and students of various jewellery design schools around the world.
The designs call for incorporating different categories of pearls, including Tahitian, South Sea, Akoya and Freshwater.
Two categories
The professional designer tier will constitute a custom-designed collection of pearl jewellery pieces, created by ten invited luxury brands inspired by the rich Arabian pearling heritage and represented in a modern and contemporary fashion.
The student tier is a competition for final-year students from schools that offer a minimum two-year full time jewellery design course, spanning a broad geographical market.
Bin Sulayem said: “This international pearl jewellery design programme will both highlight Dubai as a centre for the global pearl trade and increase the visibility of pearls in the fashion industry.
‘Pearl Essence’ will invite participation from the global marketplace and provide a neutral and innovative programme for the international pearl community.”
For the professional designer tier, DMCC is currently in discussions with leading luxury jewellery brands including members of the Dubai Pearl Exchange to create one unique piece each for the collection.
The entries will tour international jewellery trade exhibitions before being auctioned by Christie’s with the proceeds being donated to charity.
DMCC is also working with 44 jewellery design schools spanning Australia, China, India, Japan, Lebanon, Singapore, South Africa and Turkey to solicit entries before the early 2009 deadline.
The student entries will be judged by an international jury, chaired by DMCC and comprising trade journalists and professional jewellery designers.
The designs will be evaluated for commercial design, wearability, theme-based creativity and the use of pearls as the main design feature.
A shortlist of 10 student designs will be fabricated into finished jewelry by DMCC-nominated manufacturers and pearl sponsors.
The fledgling designers stand to win several awards including a 30-day internship with an international jewellery design house, a week's visit to the pearling operations of Paspaley Pearling Co in Western Australia, a seven-day course at Gemological Institute of America’s (GIA’s) Carlsbad campus and online pearl courses from GIA.
Gaiti Rabbani, Executive Director of Coloured Stones and Pearls, DMCC said: “Pearl Essence is a very exciting initiative. It pays fitting tribute to the gem of Arabia, while at the same time bringing together the international pearl community in a unique manner.
“Through Pearl Essence, we aim to enhance awareness and appreciation of the beauty of this gem, drawing on the artistic finesse of luxury jewellery designers as well as the budding talent in the industry. Key milestones have been crafted during the programme to create unique opportunities for networking amongst young talent and established professionals, with a view to career enhancement.
“We are very encouraged by the response we’ve had from the pearl community -- Paspaley Pearling Co has confirmed a support sponsorship role alongside official pearl sponsor for the student category.
“Damas, Dhamani, Mikura Pearls and Pinctada have confirmed participation as official manufacturers and the list gets longer as more partners sign up with Pearl Essence.”
Awards
DMCC’s two-year Pearl Essence programme will culminate in a gala event in Dubai, which will include an exhibition showcasing the pearl jewellery created by both the designer brands as well as the students and an awards ceremony to select and honour three winning students.
In addition, the final pearl jewellery collection will form part of a six-month traveling exhibition to major international jewellery shows.
The introduction of the Dubai International Pearl Jewellery programme is a vital new element of the DMCC’s comprehensive pearl strategy, which seeks to revitalise the Middle East’s leadership status in the pearl sector and re-establish Dubi as a centre for the global trade.
Pearl Essence complements DMCC’s recently announced “Pearls of Arabia”, a landmark project located on The World islands, featuring a high-quality offshore entertainment, education and retail centre.
DMCC’s dedicated Coloured Stones and Pearls Division, launched in 2007, seeks to foster relations with the international trade and develop industry services.
The current platforms in the portfolio of the Coloured Stones and Pearls Division include the Dubai Gems Club and the Dubai Pearl Exchange. These platforms are supported by other divisional initiatives such as the recently launched GemBureau Middle East and the Pearls of Arabia.
Event
- Pearl Essence is an International Pearl Jewellery Design programme focused on the beauty and uniqueness of the pearl.
- A global design concept of this nature, encapsulating different categories of pearls, is being developed for the first time.
- Pearl Essence is a two-tier event with categories for both professional designers and students.
The Theme
The rich heritage of pearling in Arabia represented in a modern and contemporary fashion
Designer Tier
- Top international jewellery brands will be invited “by invitation only” alongside Dubai Pearl Exchange members to submit a design and go on to produce a stunning “one of a kind” finished pearl jewellery piece inspired by the given theme.
- Designs will be showcased during a glittering gala dinner and then form part of a travelling exhibition, offering exceptional visibility.
- A nominated charity will receive the funds raised from auctioning the jewellery at a high-end charity evening in Dubai by Christie’s.
Student Awards
- The award is designed to encourage creativity and innovation in pearl jewellery design and offer prizes to further enhance learning and career opportunities amongst design students.
- The award is open to final year students in a minimum of two year full time dedicated jewellery design program from eligible institutes.
- At present 44 institutes have been shortlisted in 9 markets with over 1,000 students.
- The award will be marketed to the institutes through appointed representatives, posters, a dedicated website which is under development, student packs and roadshows.
- The designs will be judged by an international jury who represent the pearl trade.
- 10 finalists will be selected and their designs will be fabricated into a finished piece of jewellery by DMCC nominated manufacturers, sponsored by pearl producers.
- The finalists and their tutors will be invited and hosted for a glittering Gala event in Dubai in 2009, allowing them the opportunity to present their designs and network with potential employers
- All finished jewellery pieces will form a traveling exhibition to international markets during specific jewellery events with an accompanying catalogue
The Jury
- Ahmed Bin Sulayem, Executive Chairman, DMCC
- Gaiti Rabbani, Executive Director, Coloured Stones & Pearls Division, DMCC
- Tawfique Abdullah, Chairman, Dubai Gold and Jewellery Group and Damas
- Jorg Gellner, Managing Director, Gellner GmbH & Co
- Editors of two leading jewellery magazines
- Two representatives from leading design brands
Categories
- Akoya Pearls (Japanese)
- Tahitian Pearls (French Polynesia)
- South Sea Pearls (Australia, Philippines and Indonesia)
- Freshwater cultured pearls (Chinese)
- Any combination of the above
Prizes
The finalists will receive:
- First prize: A month long internship sponsored by a leading international jewellery brand.
- Second prize: A week long trip to the pearling operations and pearl farms of Paspaley Pearling Co in Western Australia
- Third prize: A seven day pearl course at Gemological Institute of America’s (GIA’s) headquarters in Carlsbad, California
- Prizes for all 10 finalists: An online pearl course courtesy of GIA
- The award-winning pieces will be showcased in a dedicated area at the Pearls of Arabia experience centre
Confirmed Sponsors
- Pearl Essence Support Sponsor: Paspaley Pearling Co
- Official Manufacturers: Damas, Dhamani, Mikura, Pinctada
- Pearl Sponsor - South Sea Pearls: Paspaley Pearling Co
Wednesday, May 28, 2008
Atlas South Sea Pearl reiterates profit forecast
28/05/2008 By: Niraj Shah
Atlas South Sea Pearl Limited (ATP) has reaffirmed its 2008 net profit forecast of $5.7 million, down from $8 million in 2007. The pearl farmer said cash earnings excluding any fair market adjustments for the Agriculture assets were $3.6 million compared to a profit of $3.3 million in the previous financial year. The increase in profit in 2008 was mainly attributed to a one off adjustment relating to the fair market value of its pearls and oysters, resulting from a change in the adoption of AASB 141, the company said.In addition, Atlas said revenue from retail operations had increased substantially in 2007 and was expected to grow strongly again in 2008 to around $1 million.
However, the 2008 forecasts did not take into consideration any gains or losses which may flow from the revaluation of pearls and oysters under AASB141.
At its AGM today, Atlas said it had continued the expansion of the retail outlets in Bali through the company�s own stores and through exposure in hotel retail facilities, which had increased the profile of its brand.
�Two new stores will be opened in the Bali tourist precincts of Seminyak and Nusa due by the end of 2008,� it said.
�A new site has been identified and local approval granted for the development of a backup juvenile nursery for an expanding oyster population in the event that existing juvenile oyster farm sites shows signs of degradation,� it said.
The company also said it planned to start a program of seeding oysters in Bali and transferring them to sites where faster oyster growth occurs.
Shares in Atlas South Sea Pearl picked up 0.5c to 44.0c .
related stories:
sources: source: http://news.smh.com.au
Atlas South Sea Pearl profit to fall
May 29, 2008 - 1:04PMPearl farmer Atlas South Sea Pearl Ltd has reiterated that its profit this financial year will be down by about 30 per cent but says a one-off accounting adjustment the previous year explains the fall.
The Indonesia-focused pearl group said its 2008 net profit is forecast at $5.7 million, down from $8 million in 2007.
However, it said the 2007 net profit was attributed mainly to a one-off adjustment relating to the fair market value of the company's pearls and oysters resulting from a change in the accounting standard.
The company said the projected forecast of $5.7 million was therefore an increase on a like-for-like basis from the previous year when fair market adjustments from a change in accounting policy were excluded from the profit result.
"Today, we presented the expected result for the year as we normally accounted it for in terms of the cash-profit position, or underlying profit," managing director Joseph Taylor told AAP after the company's annual general meeting.
"The accounting process and bringing in the agricultural assets, will increase that profit in a reporting sense quite significantly, but because of the way that (accounting standard) system works," Mr Taylor said.
"We don't really want to announce anything on that until a bit later in the year."
Revenue from retail operations increased in 2007 to about $700,000 and is expected to grow in 2008 to just under $1 million.
"The company's retail operations have continued to grow with an increase in revenue from the two showrooms and numerous hotel presentation cabinets in various Bali tourist hot-spots," the company said in a statement.
"The number of retail outlets will be increased to four by the end of the year."
The Perth-headquartered company, which produces pearls primarily at Alyui Bay in West Papua, is diversifying geographically.
It has identified a new juvenile nursery site in North Bali and plans a new hatchery at its existing site in East Bali, to be commissioned in October.
"The establishment of geographically diverse hatchery and farms sites has resulted in significantly higher productivity and survival rates of oysters," the company said.
"Increased seeding activities have commenced in Bali where it is cheaper to farm the oysters."
© 2008 AAPMonday, May 05, 2008
Freeform Pearls take centrestage at Paspaley
Exquisitely crafted jewels feature dramatic Keshi pearls and pave diamonds set in 18kt white gold.
Paspaley, the purveyor of the world's finest pearls, presents rare, one-off pieces from its latest collection. It combines large Keshi pearls and pave diamonds in 18kt white gold settings to offer elegant colliers, necklaces, stud and drop earrings, and rings. Bold and dramatic, these creations exude a charming air that defies expectations, emerging as extraordinary options for the discerning jewellery lover.
"Freeform pearls have always posed a unique challenge to jewellery designers. Known as Keshi pearls, they come in a variety of charming shades and are known for their lustre and uncommon orient. In its 2007-2008 collection, Paspaley displays its design innovation through singular and marvelous pieces that focus on the natural beauty of the non-traditional shapes of these treasures", said Tawhid Abdullah, Managing Director of Damas, the exclusive partner of Paspaley in the UAE.
Paspaley's visionary excellence is highlighted with delectable effect in a sumptuous collier of large flowers created from Keshi pearls. White gold leaves encrusted with pave diamonds are interspersed with the pearl blossoms for maximum drama. This produces an organic piece resembling a garland of wild flowers that was casually strung together! It is matched with huge blossoms for stud earrings and an eye catching ring, all designed to put its wearer in the limelight.
In another set, large, hollow white gold ovals are lined by a sparkling row of diamonds with each oval nestling one sumptuous Keshi pearl. Paspaley then strings these enchanting settings to form necklaces, drop earrings and rings with seeming nonchalance.
Keshi pearls, also popularly known as seed pearls, are cultured in both freshwater and saltwater. Made up purely of nacre, this type of pearl does not have the nuclei present in round pearls as the oyster expels it. Their shapes evolve into highly unusual and interesting forms whose lustre is brighter.
Each Paspaley pearl is nurtured for up to 6 years in remote pearl farms on the Northwest coast of Australia, home to the largest beds of the world's most prized pearl oysters. The pearling pioneer's extraordinary partnership with nature began over 60 years ago when its founder Nicholas Paspaley discovered the first South Sea pearl, and has seen it present the world some of the finest gems from the sea. In these one-off pieces featuring Keshi pearls, Paspaley once again demonstrates its exceptional touch and mastery in pearl jewellery design.
Adorn yourself with finely crafted jewels featuring Keshi pearls now available at Paspaley boutiques at Saks Fifth Avenue - Burjuman Centre, Mall of the Emirates and Abu Dhabi Mall.
Notes and contacts
About Paspaley
Paspaley is the world's leading South Sea pearl company, growing the finest quality pearls in the world. Behind the simplicity and singular beauty of Paspaley South Sea pearls is a journey that began more than 70 years ago on the remote and unspoiled coastline of northern Australia.
Paspaley's involvement in pearling dates back to 1935 when Nicholas Paspaley's father, Nicholas Paspaley Senior MBE, first collected mother-of-pearl shell in Australia's northern waters. He established a family concern that has evolved to become the world's leading South Sea pearling company. Paspaley is still proudly family-owned and operated.
Paspaley nurtures its pearls on a remote network of over 20 farms, stretching more than 2500km across the pristine waters off the northwest coast of Australia - about the same distance as London to Moscow.
Paspaley's pioneering techniques have been widely acknowledged as world's best practice, positioning the company name at the forefront of the pearling industry. Consistent quality and supply are the hallmarks of Paspaley - a reputation achieved only through an unwavering commitment to the pursuit of excellence and the principles of quality.
These standards have ensured Paspaley South Sea pearls are much sought after by the world's leading jewellery houses and has made the Paspaley name synonymous with the most beautiful pearls in the world.
Monday, April 21, 2008
Man Sang Holdings, Inc. Announces Market Centre in China Pearls and Jewellery City Phase One Opens
Breakthrough for Pearl and Jewellery Industry
NEW YORK--(BUSINESS WIRE)--Man Sang Holdings, Inc. (“Man Sang” or the "Group") (AMEX: MHJ) today announced the opening of its market centre in Phase one of China Pearls and Jewellery City (“CP&J City”), a 55%-owned investment and development project of the Group in Zhuji, Zhejiang Province, China.
The Group chartered a flight in Shenzhen to take guests to the “home of pearl” – Zhuji yesterday to participate in the grand opening ceremony today. The opening of the centre and the pearl and jewellery procurement fair were timed to coincide with the “Third China•Zhuji Xishi Cultural Festival” and “Sixth China (International) Pearl Festival”, all held in the CP&J City, in an effort to promote the commercial and cultural aspects of pearl and jewellery trading to the world.
Deemed as a major construction project in Zhejiang Province and Zhuji city, CP&J City has strong support from the provincial and municipal governments. Officiating guests include government officials from the Zhuji Municipal Government and others. After the ceremony, CP&J City also signed a strategic partnership cooperative MOU with Gemological Institute of America (“GIA”) to foster cooperation between the two parties and promote development of CP&J City and China’s jewellery industry. Jewellers from around the world also actively participated in the first procurement fare of CP&J City.
Apart from officials of Zhuji city and the Shanxiahu Town Government, the opening ceremony was also attended by officials from Zhejiang Province, Guangdong Province, Shaoxing City, Nanchang city, Shenyang city, Tieling city and Beijing city, together with over a thousand jewellery traders, purchasers, and representatives from business associations, consulates in Hong Kong, the financial sector and the media. Guests from over 16 countries and regions such as the U.S., Germany, Finland, Holland, Denmark, Mexico, India, Dubai, Middle East, Australia, Malaysia, Japan, Thailand, Taiwan, Vietnam, Hong Kong were present at the ceremony.
Guests attending the opening ceremony were overwhelmingly impressed by the scale and supporting facilities of CP&J City and commented that putting sales, exhibition, manufacturing, processing, business and entertainment facilities all under one roof is a concept with obvious merits over presenting a pure exhibition venue. CP&J City is expected to become a brand new multi-functional value adding platform for pearl and jewellery trading and we expect it will develop into the largest pearl and jewellery tourist attraction and shopping hot spot in China.
The market centre in Phase 1 of the CP&J City has a construction area of 160,000 sq. m. accommodating about 2,380 shops and booths. When the whole CP&J City project is completed, it will have an estimated over 5,000 shops and booths and become the world’s largest of its kind and most up-to-date pearl and jewellery trading platform capable of offering one-stop service including manufacturing, processing, exhibition and sales solutions in the industry.
Mr Cheng Chung Hing, Chairman of Man Sang, said, “The opening of CP&J City is a very important milestone in the Group’s development, as it allows the Group, through cooperating with six other leading pearl enterprises in the country, to expand its business from pearl and jewellery manufacturing and trading to now also cover development and construction of this pearl jewellery trading platform and related supporting and logistic facilities. We co-organised the event with the Zhuji Municipal Government and are proud to have elites from various sectors, domestic and overseas, to come witness the transformation of Zhuji’s old pearl market into the largest-of-its-kind one-stop trading platform in the world capable of providing premium and most efficient jewellery trading and related value added services to jewellers. CP&J City will be a commercial hot spot incorporating exhibition, trade and related services as well as entertainment facilities for industry players. We strongly encourage world-class brands to choose CP&J City as the location for their flagship stores. In the long term, we hope to cooperate with pearl jewellers around the world to develop Zhuji City into an international pearl capital.”
Boasting a total site area of 1.2 million sq. m., CP&J City, which is being developed in phases, will deliver a host of functions including production, wholesale and trading of pearl, precious stones, various gems, gold and silver jewelley accessories, raw materials, finished products and manufacturing equipment, to name a few. It will also be divided into different zones including a market centre, a display area, a processing area, a supporting service area, a residential area and training centre.
CP&J City also plans to launch an e-business platform, with a database of tens of thousands of domestic and overseas buyers and purchasers, and a supportive platform offering import and export services, international finance and professional insurance services, as well as logistics services. This will allow customers to experience true one-stop trading services. New services that will be launched later included world-class training courses on gems and jewellery certification, pearl cultivation and processing and jewellery design to nurture pearl and jewellery professionals and enhance the standard of enterprises and expertise in Zhuji and the industry at large in China.
Mr. Cheng said, “CP&J City in Zhuji in central Zhejiang Province and Zhuji is known to the world as the “home of the pearl” (expected to soon be named the “capital of pearl”). It is the world’s largest freshwater pearl distribution centre boasting the most advanced pearl processing technologies in China. Its pearl products are sold to over 50 countries and regions around the world. 95% of the world’s freshwater pearls are produced in China, while 70% of the freshwater pearls in the world and over 80% of the freshwater pearls in China are traded in Zhuji each year. Zhuji is close to railway, roads, airports and ports, hence we can expect high customer flow. The Group expects to leverage Zhuji’s position in the world’s freshwater pearl manufacturing and trading industry to build the CP&J City brand and the project into a leading global pearl and jewellery trading platform, and thereby contribute to China’s standing in the international pearl and jewellery market.”
CP&J City is regarded as a core project by the Zhuji Municipal Government in establishing the world’s largest cluster of jewellery enterprises in the city. It has substantial support and commands attention from leaders at all levels of government including the Zhejiang Provincial Government, the Zhuji Municipal Government and the Government of Shanxiahu Town. The project is jointly developed by seven leading pearl companies, namely Man Sang, Zhejiang Shanxiahu Pearl Co. Ltd, Zhejiang Ruan’s Pearl Holdings Co. Ltd, Zhejiang Grace Pearl Jewellery Co. Ltd, Zhejiang Sanshui Jewellery Co. Ltd, Zhejiang Tears of Angel Jewellery Co. Ltd and Dexing Pearl Co. Ltd.
Please visit www.man-sang.com or www.cpjcity.com for more information on the CP&J City.
About Man Sang Holdings, Inc.
Man Sang Holdings, Inc. and its subsidiaries (together the "Man Sang Group") are one of the world's largest purchasers and processors of Chinese cultured and freshwater pearls. The Man Sang Group is principally engaged in the purchasing, processing, assembling, merchandising and wholesale distribution of pearls, pearl jewelry and other jewelry products. In addition, the Man Sang Group owns and operates the Man Sang Industrial City, an industrial complex, located in Gong Ming Zhen, Shenzhen Special Economic Zone, PRC.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are, by their nature, subject to risks and uncertainties. This Act provides a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward-looking and provide meaningful cautionary statements identifying important factors that could cause actual results to differ from the projected results. All statements, including statements regarding industry prospects and future results of operations or financial position, made in this press release are forward looking. Words such as “may,” "believes," “will,” "expect," "project," “estimate,” "intend," “anticipate,” “plan,” “continue”" and similar expressions may identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to: the Company's future performance, the Company's expansion efforts, the state of economic conditions and the Company's market. These forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes to be appropriate in particular circumstances. However, whether actual results and developments will meet the Company's expectations and predictions depends on a number of known and unknown risks and uncertainties and other factors, any or all of which could cause actual results, performance or achievements to differ materially from the Company's expectations, whether expressed or implied by such forward-looking statements (which may relate to, among other things, the Company's sales, costs and expenses, income, inventory performance, and receivables). Primarily engaged in the processing and trading of pearls and pearl jewelry products, and in real estate investment, the Company's ability to achieve its objectives and expectations are derived at least in part from assumptions regarding economic conditions, consumer tastes, and developments in its competitive environment. The following assumptions, among others, could materially affect the likelihood that the Company will achieve its objectives and expectations communicated through these forward-looking statements: (i) that low or negative growth in the economies or the financial markets of its customers, particularly in the United States and in Europe, will not occur and reduce discretionary spending on goods that might be perceived as "luxuries"; (ii) that the Hong Kong dollar will remain pegged to the US dollar at US$1 to HK$7.8; (iii) that customer's choice of pearls vis-Ã -vis other precious stones and metals will not change adversely; (iv) that the Company will continue to obtain a stable supply of pearls in the quantities, of the quality and on terms required by the Company; (v) that there will not be a substantial adverse change in the exchange relationship between the renminbi ("RMB") and the Hong Kong or US dollar; (vi) that there will not be substantial increase in tax burden of subsidiaries of the Company operating in the PRC; (vii) that there will not be substantial change in climate and environmental conditions at the source regions of pearls that could have material effect on the supply and pricing of pearls; and (viii) that there will not be substantial adverse change in the real estate market conditions in the PRC and in Hong Kong. This press release should be read in conjunction with the financial statements and the notes thereto included elsewhere in this Form 10-Q and with the Company's annual report on Form 10-K for the year ended March 31, 2005. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company will not publicly release any revisions to these forward-looking statements after the date hereof. Readers are urged, however, to review the factors set forth in reports that the Company files from time to time with the Securities and Exchange Commission.
Contacts
Man Sang Holdings, Inc.
Mr. Martin Pak, (852) 2317 9369
martinp@man-sang.com
or
The Altman Group
Patricia Baronowski
Pbaronowski@altmangroup.com
Monday, April 07, 2008
EU Funds Study To Help Ailing Black Pearl Industry
http://www.pacificmagazine.net
The European Union has earmarked some US$5.8 million as part of a plan to reform and boost
The scheme is part of the EU's 9th EDF (European Development Fund), which initially covered the 2002-2007 period, Maamaatuaiahutapu told reporters.
The project, which is scheduled to run over a three-year period from 2008 to 2010), involves on-site training by roving experts for black pearl farmers, with a particular focus on quality control and productivity.
Another facet of the project concerns a survey on the state of the international market opportunities for French Polynesian black pearls.
Once completed, the survey would give rise to recommendations on how the industry, which has been facing tough competition from neighboring Cook Islands and even
Tuesday, March 04, 2008
China Pearls and Jewellery City to open in April
March 04, 2008
Located in Zhuji, China, in the eastern coastal province of Zhejiang, the entire site will take up an area of 1.2 million meters squared, or nearly 300 acres.
Among the facilities and services available at CP and J will be a center for manufacturing, processing and trading pearls, jewelry, accessories and equipment; more than 5,000 shops and booths; a year-round platform for exhibition, display and trade; warehouse and logistics facilities; import and export, banking and insurance services; a five-star hotel, restaurants, entertainment and residential facilities; and an international jewelry appraisal and training center.
On April 18, phase one of CP and J's Market Centre, an area for pearl and jewelry shops and booths, will be open for business. Attendees of the grand opening event will also have the opportunity to visit the Third China Zhuji Xishi Cultural Festival and the Sixth China Pearl Festival.
For more information, e-mail info@cpjcity.com.
Detailed story from http://www.cpjcity.com/
China Pearls and Jewellery City (“CP & J City), situated in Shanxiahu Town, Zhuji, Zhejiang Province, is a core project that the Zhuji Government has undertaken. The total investment of the project is over RMB3 billion, and the planned site area of Phase 1 is about 410,000 m 2 .
CP&J City shall offer all- new growth potentials, ample business opportunities and comprehensive service to all business runners in the pearl and jewellery industry. Major product lines to be traded at the City shall include a full range of raw pearl, pearl products as well as pearl jewellery, including freshwater pearl, South Sea pearl, Tahitian pearl; other product lines shall include jewellery made of gold, platinum, silver diamonds, gemstones and semi-precious stones. The multi-functions of the city shall range from manufacturing, processing, assembling, research and development, designing, wholesaling, retailing, ordinary and bonded warehousing, delivering, e-commerce, convention, exhibiting and all the way down to a full range of related professional services.
With over 5,000 booths and shops, the project will serve as:
• a global pearl and jewellery production and processing centre,
• a distribution and logistic centre,
• a branded product display and trading centre,
• a capital circulation and industry information release centre,
• a jewellery cultural exchange, business travel and shopping centre, and
• a sales and marketing headquarters of local and international branded manufacturers.
CP&J City shall be divided into five major areas, namely the Jewelry Raw Materials and Accessories, Finished Products and Tools and Equipment Trade Area, Exhibition Area, Manufacturing and Processing Area, Business Service Area and Supporting Facilities Area. It is an integration of the prominent features of jewellery industry with a gigantic business scale and a comprehensive range of supporting facilities of a modern and international standard.
It is expected that Phase I of CP&J City shall have a site area of approximately 350,000 m 2 and a construction area of approximately 50 0 ,000 m 2 . The Trade Area in Phase I will consist of over 2,400 shops and booths, varying in different sizes (5m x 12m x 3 storeys, 4m x 8m x 2 storeys, or 3m x 3m x 1 storey etc.). They are installed with central conditioning or independent air- conditioners and within easy access to the flow of visitors from all directions. Other value- adding elements are their artificial intelligent functions as well as superb furnishings. Supporting facilities serving this gigantic pearl and jewellery trade platform shall include office buildings, five-star hotels, living quarters as well as leisure zones and green areas.
Monday, March 03, 2008
Christie’s set to host $25m auction
By Maha Obeid on Monday, March 3 , 2008
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She was born in 1904 and died on This will be The interest in art and jewellery is almost equal in the region – at the The significance of the Um Kulthum sale centres around her as “one of the most famous Arab women in history”, “We expect it to exceed its estimate. The provenance of the piece can affect its value, people love to buy provenance, they love to buy into history. It adds to the piece and increases its value.” “There are more people now looking at art as a form of investment. People see it as a way of diversifying their assets. We have such an extensive international base of clients, so the weakening of the dollar is not affecting sales.” The combined fame of Um Kulthum and the fact that the late The necklace boasts approximately 1,888 pearls. It is an antique nine-row pearl necklace with multi-coloured enamel and white stone details, in the style of a traditional Indian Satlada necklace, and was created circa 1880. “She used to treat the pearl necklace with absolute care and it was one of her favourites because it was given to her by the late The heirloom will be one of 33 lots of pearls in a special pearl collection. In addition to the pearls, there will be 180 to 200 lots of jewels and watches. “For the first time in the "Through this auction, we want to help make “They source them from around the world – from private sources as well as from the trade, from a huge base of clients. They spend three to four months flying around the world sourcing these. It is very much a global collection,” Jeha said. The top lots include an exceedingly rare pearl, valued at $600,000 to $800,000. According to Christie’s, it is almost certainly the largest example of its colour in the world – a yellow to pinkish-orange natural pearl, 241.44 grains (60.36 carats). It is the second largest round pearl ever recorded, and the fourteenth largest natural pearl. There is also a natural pearl and diamond pendent necklace, valued at $120,000 to $150,000. According to Jeha, In addition to that, Highlights include a work by Syrian artist The sale also features a strong Western section, with a sculpture from
The trend of celebrities showing off the most precious and beautiful jewellery has continued since Um Kulthum’s era and now the favourite place to show-off the latest designs is the red carpet. At the 80th Annual Academy Awards in The spectacular sautoir, worn with a long, black dress, contains a total of 7,645 diamonds including rough, faceted, and polished diamonds, which total nearly 1,400 carats. The sautoir was produced and manufactured by Uni-Design Limited in It uses a wide range of shapes and cuts of diamonds. Each diamond was individually selected by The intricate design was handcrafted and required more than 6,200 hours to create. During her career in fashion she has established many loyal fans and she is one of the preferred stylists to celebrities and the fashion world alike. |
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Source: http://www.dubaicityguide.com/
Magnificent Necklace Gifted To Um Kulthum By His Highness Sheikh Zayed Bin Sultan Al Nahyan The Late President Of The United Arab Emirates To Be Sold By Family Descendents
Christie’s is proud to announce the sale of a magnificent natural pearl necklace that belonged to Um Kulthum (1904-1975). Unquestionably the greatest Arab singer of the 20th century, Um Kulthum was known as ‘The Shining Star of the Middle East’ (Kawkab El Sharq), and her importance in the Arab countries was so great that she was received with the same ceremony as heads of state. The necklace, which was gifted to Um Kulthum by His Highness Sheikh Zayed Bin Sultan Al Nahyan, the late ruler of the UAE, is being sold by family descendents. It is expected to fetch $80,000-120,000 when it is sold as a star lot in the forthcoming auction of Contemporary Jewels and Watches to be staged by Christie’s in Dubai on 29 April 2008.
“Christie’s is thrilled to be offering this historic jewel from one of the greatest icons of the twentieth century”, said David Warren, Director of Jewellery Middle East.
The antique nine-row pearl necklace with multi-coloured enamel and white stone details, in the style of a traditional Indian Satlada necklace, was created circa 1880 (estimate: $80,000-120,000), and consists of approximately 1,888 pearls. It was gifted to Um Kulthum by His Highness Sheikh Zayed Bin Sultan Al Nahyan, the late ruler of the UAE and is being offered for sale at Christie’s by family descendents. “She used to treat the pearl necklace with absolute care and it was one of her favourites because it was given to her by the late Sheikh Zayed Al Nayhan, the founder of the UAE”, remembers a family member of the late star. This magnificent necklace is one of the highlights of a 33 lot strong selection of natural pearls to be offered in the forthcoming sale of Contemporary Jewels and Watches, one of the most significant offerings of natural pearls to the market for decades, and expected to fetch in the region of $7 million (please see separate press release).
Um Kulthum’s repertoire included more than 300 songs with themes ranging from love to nationalism to religion. The majority were sung in colloquial Arabic; although some were in classical Arabic, written by famous poets. She was extremely selective in the choice of verses and frequently had the authors change words if their resonance for her was not perfect.
Um Kulthum was relentless in her charitable work and was the spokeswoman for numerous good causes. She advocated governmental support of Arabic music and musicians, she endowed a charitable foundation and, most importantly, after the Egyptian defeat in the 1967 war, she began a series of domestic and international concerts for Egypt. She traveled throughout the Arab world, collecting contributions and donating the proceeds of her performances to the government of Egypt. Um Kulthum was entertained by heads of state, she toured cultural monuments, and, in interviews, repeated her views concerning the importance of support for indigenous Arab culture.
When on February 4th, 1975, Egyptian radio aired the chanting of the Qur’an, it was the sign that someone important has died. Um Kulthum’s funeral drew more than four million people to the streets of Cairo to publicly mourn her passing. In her honour the Egyptian government opened the Kawkab al-Sharq Museum at the Manesterli Palace (Star of the East), dedicated to the life and work of Um Kulthum. The museum contains many of her personal items as well as her dresses and even her famous eye glasses.
Almost 33 years to the day after her death, she is still heard daily on the radio and her albums are top sellers. Described as ‘The Incomparable Voice’ by Maria Callas, Um Kulthum was more than a musician - she became the voice and face of Egypt. Today Um Kulthum’s memory and image is widely celebrated; Egyptian artist Chant Avedissian, whose works regularly feature in Christie’s auctions of International Modern and Contemporary Art, is represented in the current ‘Word into Art’ Exhibition at the DIFC, Dubai with his homage to Um Kulthum
“Christie’s is proud to be offering for sale Um Kulthum’s necklace, one of the most famous Arab women in history, and we look forward with great excitement to our 29th April sale which will contain some of the finest natural pearls in the world” concluded Michael Jeha, Managing Director, Middle East.
Friday, February 29, 2008
Dubai unveils 'Pearls of Arabia' Project
The Dubai Multi Commodities Centre on Monday unveiled plans for “Pearls of Arabia,” a project that will feature offshore entertainment, retail, and educational components. This project is the first stage of Dubai’s plan of reestablishing the emirate as a center for the global pearl trade.
In association with Paspaley Pearling Co. PTY Ltd, DMCC will establish a 6,000-square-meter "Experience Centre" at The World, a housing and business development of man-made islands in the shape of a world map off the coast of Dubai. The new pearl center will be built in Antarctica.
The project will include a pearl-themed cultural heritage centre, a performing arts theatre, an exhibition gallery, and a themed restaurant alongside boutiques inviting participation from the leading international names in the pearl industry. Visitors will travel to this destination by water ferries—transporting them across the manmade archipelago of 300 islands and into the region’s storied past. The facility is expected to be complete by the end of 2010.
"Less than a century ago, pearling was the very lifeblood of Arabia, accounting for some 80,000 jobs in the UAE alone and representing 95 percent of the country’s total revenues," said Ahmed Bin Sulayem, executive chairman, DMCC. "Pearls of Arabia presents age-old wisdom in a modern and contemporary fashion to revive the region’s historic legacy for the benefit of future generations."
DMCC’s objective is to develop the global and regional pearl market with specific focus on trading, grading, trade events, and auctions alongside trade and consumer education. The Pearls of Arabia project represents a component of Dubai’s strategy. The Dubai Pearl Exchange creates important opportunities for the international pearl trade by providing an exclusive trading platform and a facilitated free-trade environment for regional and international pearl traders.
DMCC also will investigate the introduction of a uniform certification for pearls, based on globally recognized quality parameters. This certification would be developed in conjunction with leading gem certification bodies to generate increased confidence in the pearl trade. Certificates issued from the emirate would have the official imprimatur of the Dubai Government.
Left to right: Nicholas Paspaley, executive chairman, Paspaley Pearling Co. PTY Ltd; Ahmed Bin Sulayem, executive chairman, DMCC; and Gaiti Rabbani, executive director, Coloured Stones and Pearls, DMCC. During the unveiling of Pearls of Arabia at The World.
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Source: http://www.themedialine.org
Dubai’s Pearl Industry to Shine Again Written by Adam Gonn
Published Thursday, February 28, 2008
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Less than a century ago, however, the Gulf was home to some of the best pearls in the world, due to the formation of the seabed, the temperature and shallowness of the water.
Some 80,000 men were involved in pearling in the UAE alone and the sale of pearls represented 95 percent of the country's revenues. It is this heritage that Dubai’s Multi Commodities Centre (DMCC) plans to present in the new Dubai Pearl Museum, which will house special types of pearls from various regions.
The new museum will be the second one in the Emirate. The current pearl museum is located in the National Bank of Dubai (NBD) headquarters in Deira. The first museum was established when NBD's founder-chairman, Sultan Al Owais, one of Dubai's most important pearl merchants, poets and philanthropists, donated his pearl collection.
The plans for the museum are being presented in conjunction with the establishment of a Dubai Pearl Exchange in mid-April, which aims to re-establish Dubai as a global center for pearl trading.
The two centers will be located on "Antarctica" at The World, a man-made island cluster on the Dubai coastline, as part of the approximately 7000-square meter Pearl of Arabia cultural heritage center, which will also include a performing arts theater, an exhibition gallery and restaurants, alongside boutiques to be run by top pearl fashion houses.
Source: http://www.diamondintelligence.com
DMCC UNVEILS 'PEARLS OF ARABIA' PROJECT TO REVITALIZE DUBAI'S GLOBAL PEARL TRADE
The Dubai Multi Commodities Centre (DMCC) is unveiling “Pearls of Arabia,” a project intended to reestablish the emirate as a center for the global pearl trade. The project, which will feature an offshore entertainment, retail and education center, is expected to be completed in 2010. The DMCC’s objective with the project is to develop the global and regional pearl market with specific focus on trading, grading, trade events and auctions alongside trade and consumer education
In association with Paspaley Pearling Co. PTY Ltd., a south sea pearl company and producer, the DMCC will establish a 6,000-square-meter Experience Centre on Antarctica at The Worlds Islands. As part of the Experience Centre, there will be a pearl-themed cultural heritage center, a performing arts theater, an exhibition gallery and a themed restaurant alongside boutiques inviting participation from the leading international names in the pearl industry. The destination will be accessible to visitors by water ferries.
“Less than a century ago, pearling was the very lifeblood of Arabia, accounting for some 80,000 jobs in the UAE alone and representing 95 percent of the country’s total revenues,” says Ahmed Bin Sulayem, Executive Chairman, DMCC. “‘Pearls of Arabia’ presents an age-old wisdom in a modern and contemporary fashion to revive the region’s historic legacy for the benefit of future generations.”
Nicholas Paspaley, Executive Chairman of Paspaely Pearling Co. PTY Ltd., says, “Historically, Dubai served as the world’s hub in the trade of fine-quality natural pearls. Now, almost 100 years later, we are delighted to collaborate with DMCC to revitalize the region’s traditional association with pearls…. Dubai will present to the world the best selection of pearls and pearl jewellery that the 21st century pearling industry has to offer, and will showcase the beautiful history and story of pearls.”
As part of its Pearl Strategy, the DMCC plans to investigate the introduction of a uniform certification for pearls, in conjunction with leading international gem certification bodies.
Wednesday, February 20, 2008
First International Pearl Convention
| Emmanuel Fritsch of the University of Nantes (France) and Stefanos Karampelas of the University of Thessaloniki (Greece) attended the First International Pearl Convention in Abu Dhabi, United Arab Emirates (UAE), Nov. 19-20, 2007. Following is their report on some of the highlights: Organized by the Dubai-based Pearl Revival Committee to raise the profile of natural pearls from the Persian Gulf (referred to locally as the "Arabian Gulf") and to discuss related issues, the conference included a seminar dedicated to technical issues and a summit focused on production and marketing. Technical Seminar
Nicholas Sturman (Gem & Pearl Testing Laboratory, Bahrain) reviewed pearl testing techniques, saying he prefers X-ray luminescence over measuring manganese content to separate freshwater from saltwater pearls. He also reminded the audience that production of natural pearls in the Persian Gulf (figure 1) is quite small today, with pearl fishing more a hobby than a commercial enterprise. Stephen Kennedy (Gem Testing Laboratory of Great Britain, London) reviewed pearl treatments and their detection, noting that some "chocolate" pearls, for example, are created by the bleaching and subsequent dyeing of gray-to-black pearls. These contributors pointed out the importance of unsubstituted, short, polyacetylenic molecules ("polyenes") in the coloration of freshwater cultured and many other pearls, rather than carotenoids, which are found only in the pen-shell pearls of the genus Pinna. Sutas Singbamroong (Dubai Gemstone Laboratory, UAE) presented a preliminary study of Persian Gulf natural pearls, which are mainly small, white-to-"cream" colored (with about 2-3 percent yellow), and grow in a variety of shapes. The technical seminar concluded with a panel discussion on how pearl certification can help the industry. Among other issues, the point was made that nacre quality is as important as nacre thickness. Lower-quality nacre can be recognized by its chalkier appearance, the defects it induces around drill holes and the presence of thicker-than-average conchiolin layers just beneath the surface, as seen in X-radiographs. Production
Three presenters addressed the incredible boom in Chinese freshwater cultured pearls: Shi Hongyue (Gems and Jewellery Trade Association of China), Dr. Qiu Zhili (SunYat-sen University, Guangzhou), and He Naihua (China's World Pearl Association). Production has risen from the first 0.61 kg of whitish "rice krispies" from Cristaria plicata in 1971 to the current 1,500 tons of larger, often colored cultured pearls from the Hyriopsis genus (an increase of more than a million-fold). Only about 5 percent of the cultured pearls are gem grade, and rounds represent less than 10 percent of the production. During the summit, Chinese delegates displayed several round white-to-purple freshwater cultured pearls of modest luster but very large size, about 17 mm. There is also a small production of saltwater cultured pearls from the Pinctada martensii (but the nacre is thin, 0.2-0.6 mm) and mabé from the Pteria penguin. Stephen Arrow (Arrow Pearls, Broome, Western Australia) presented the history and current status of large South Sea cultured pearls from Pinctada maxima on the northwestern Australian coast. Good-quality rounds do not exceed 21 mm in diameter and require about six years of cultivation. Sarkis Hajjar (Belpearl, Antwerp, Belgium) discussed the culturing of pink-to-purple freshwater pearls in Lake Kasumiga, Japan, based on the hybrid Hyriopsis cumingii x H. schlegelii. About 10 kg of such pearls are produced annually, with other cultivation sites currently being sought. Economics and Marketing Both speakers on economics and marketing lamented the lack of reliable statistics for pearl jewelry and the industry. Tawfique Abdullah (Dubai Gold & Jewellery Group) regretted the poor communication between producers, manufacturers and retailers, and argued for harmonization of standards among the various producing regions. He added that the pearl industry spends less than one percent of the production value on promotion, as compared to the 20-40 percent spent by other luxury goods. Naheed Anees (ARY Academy of Gems & Jewelry, Dubai) pointed out that the Gulf Cooperation Council countries represent 9 percent of the world's jewelry market, and that per capita jewelry consumption in UAE is about 20 times the world's average. She recommended developing programs to educate consumers about pearls, in particular about imitations, which are still common in the Middle Eastern market. She also proposed developing effective marketing techniques to show that pearl jewelry is no longer "old-fashioned," but rather can be innovative as well as inexpensive. | ||||||
Thursday, January 17, 2008
Atlas South Sea Pearl harvest results; targets
Sydney, Jan 17, 2008
Atlas South Sea Pearl Ltd (ASX:ATP) harvested 185,600 pearls (109,600 momme) in 2007, compared with 234,200 pearls (93,300 momme) in 2006.
Revenue from the sale of loose pearls in 2007 was $13.3m, against $10.8m in 2006.
Revenue from the sale of loose wholesale pearls increased 27pc in Japanese yen terms in 2007 versus 2006 but the stronger Australian dollar resulted in an increase of only 23pc in reported results.
The quantities of pearls sold in 2006 and 2007 were similar but with larger average pearl size in 2007, the weight was improved.
Atlas expects to harvest more than 200,000 pearls in 2008 and more than 250,000 pearls in 2009.
The group's total sales revenue for 2007 is in the order of $14.5m with the additional income generated from jewellery, by-product and other services.
Operating profit is expected to be around $5.4m, as previously projected.
The company's future objectives are to:
increase pearl production 60pc within five years from the introduction of the Malaysia project;
lift pearl sales revenue 80pc to $24m within five years;
expand the vertical integration of the business to take advantage of further value-adding opportunities, build strong brand recognition and increase geographic and product risk diversification.
Atlas South Sea Pearl reaffirms guidance
January 17, 2008 - 5:32PM
Pearl farmer Atlas South Sea Pearl Ltd says it expects its harvest to increase in 2008 and reconfirmed its net profit guidance for calendar 2007.
Atlas expects a net profit of around $5.4 million for its just-ended financial year, which finished on 31 December 20007, although results are subject to audit and board approval.
The Western Australia-based company, which specialises in producing white, silver and gold South Sea pearls, harvested 185,600 pearls in 2007, down from 234,200 in 2006.
Atlas said although the quantity of pearls harvested declined in 2007, the average pearl size was larger.
It expects to harvest more than 200,000 pearls in 2008.
The company said pearl quality has been enhanced over the past few years.
"The ongoing genetics research that is being undertaken with James Cook University (in Townsville) is already having a positive impact on the company's farming practices," it said.
"Breeding has commenced with selected oyster families with strong growth traits."
Through its Indonesian subsidiary, PT Cendana Indopearls, Atlas operates pearl farms across the Indonesian archipelago, including Bali, Lombok and West Papua.
In 2008, a new pearling venture in Sabah, Malaysia, will begin, which the company says will allow it to expand its jewellery manufacturing capabilities.
"Malaysia is likely to provide better opportunities for expanding Atlas's pearl jewellery manufacturing capabilities.
"It has a strong jewellery industry and a well-educated and trained workforce."
Atlas said planning was underway for it to expand this part of the business.
"Malaysia, Brunei, Thailand and other South-East Asian countries are attractive in terms of expanding the jewellery brand through retail outlets, either owned or licensed."
In 2007, Atlas paid a fully franked dividend of 4 cents per share.
Atlas shares closed up 2.5 cents to 41 cents.
Monday, December 03, 2007
World is their oyster for pearl divers
By Marten Youssef, Staff Reporter
Published: December 01, 2007, 01:14
Abu Dhabi: Over the years thousands of people dived into the shallow depths of the Arabian Gulf searching for a treasure tucked away in the rugged shells of oysters.
Divers lived in dire conditions and risked their lives for the slight chance of a fortune being discovered in this tiny creature.
Pearls have been a symbol of wealth for centuries.
No region has produced more natural pearls than the Gulf.
"The oldest known natural pearl was found here in the Gulf and archaeologists say it is 7,000 years old," said Abdullah Al Muaini, head of the gemstone unit at the Dubai Central Laboratory.
The warm, shallow waters of the Gulf produced some of the world's most sought-after natural pearls.
"Our pearls were sold to Europeans and Asians until the 1960s when oil was discovered and Japan began to harvest oysters, mass producing pearls that looked as natural as ours, but at a fraction of the price," Al Muaini said.
"Pearling was an incredible asset for our economy. So many people were reliant on pearldiving for their livelihoods," he said.
Stories about pearldiving became legends, part of the folklore; books were written about the dedication to pearling. "All that withered away and the chapter was closed for what many people thought was definite," Al Muaini said.
Gay Gahan, a pearl and jewellery enthusiast and collector dedicated to reviving the pearl industry, said the unique thing about the pearl is that it takes as long as nine years to form.
"Your average buyer doesn't know these things and can't tell the difference between a pearl from Tahiti or a pearl from China," said Gahan.
The process of making a pearl has changed drastically since companies have figured out a way to manipulate the oyster either genetically or physically.
Knowledge
"Long before techniques were discovered to produce a round pearl, the oyster yielded all kinds of shapes. You inserted a tiny ball into the shell of the oyster around which it wraps a material called nacre, creating the pearl."
He said today there are hardly any natural pearls. "What we have today are cultured pearls. This is the process where a foreign body is encased by the oyster's nacre.
"That is often a thin coating and can take years for the oyster to produce. You cannot tell the depth of the nacre without an X-ray," said Gahan.
For the average consumer, the depth of the pearl is irrelevant. "It is the size that counts."
A group of jewellers, enthusiasts and collectors is now committed to bringing the shine back to the pearl industry.
Nobody probably knows more about pearling and the pearl industry than Khalid Al Sayegh. Born into a family of jewellers, Al Sayegh inherited the passion for pearls when he was just 13.
"When I was very young, I visited the late Shaikh Zayed several times to present him with some of the finest pearls. He would marvel at them. I remember him asking lots of questions and he became quite passionate about the pearling industry. Today, we are helping to fulfil the legacy he started," Al Sayegh said.
At 34, Al Sayegh is a founder of the International Pearl Revival Committee.
He financed the first International Pearl Seminar and Summit last month.
The four-day event in Abu Dhabi included delegations of world-renowned jewellers, gemologists, marine biologists, historians, educators and enthusiasts.
"Before we can speak to the public about pearls we needed to think together with the brightest minds about the future of pearling and the industry. We need to work together. I believe we must walk before we can run and this is only the first of many conferences to come," Al Sayegh said.
The delegates were flown to an island in the Gulf to get a glimpse and to reignite the image of pearling as it once was. This visit took the delegates to the island of Delma, 200 kilometres northwest of Abu Dhabi, to the pearl museum and the harbour where dhows ventured out to look for pearls.
"It's mind-boggling to imagine that people made fortunes on these shores," said Daniele Naveau, Managing Director of the Robert Wan Tahiti Jewellery, as she watched a dhow coming into te Delma Harbour.
The controversy over natural versus cultured pearls, and the layman's inability to distinguish between them is what motivates Naveau to pursue a standardisation system in which pearls would be graded, certified and valuated.
Genetic modifications
"The challenge with that is that you have China, which is able to produce thousands of pearls at such a fast rate. It usually takes us years to harvest our pearls whereas in China they have somehow been able to make as much 70 pearls from one oyster.
"They have clearly genetically modified the oysters to be able to change the colours and shapes of the pearls as well. And there is no international framework to guide them so they can really keep on doing what they want to do and that is hurting the industry and the culture of pearls," Naveau said.
Her company is on a small island off the coast of Tahiti.
"What makes Tahitian pearls so sought-after is that the conditions in which they are cultured allow the oysters to produce the most beautiful round shapes with incredibly deep colours," Naveau said.
One man who believes that the UAE has an industry for natural pearls is archaeologist Fat'hi Abdullah. Born and raised in Egypt, Abdullah has worked in Iraq and Syria. He came to Delma in 1993 and since then he has been dedicated to reviving thepearling industry.
"It is not a question of if it will be revived, it's a question of when," Abdullah said.
Friday, November 23, 2007
Pearl industry expected to grow into a $3bn industry by 2010
The global pearl industry is expected to grow into a $3bn industry by 2010, according to the first industry report on Pearl industry, which was released in Abu Dhabi
Currently, the global pearl farming is a $1.5-bn industry. In value terms, more than 50 per cent of this trade is composed of black pearls. The report was released by International Pearl Revival Committee during their first international pearl convention. The findings of the report were revealed in presence of Industry stalwarts and luminaries by Chairman of the Pearl Revival Committee Khaled Al Sayegh. 'Various socio-economic and political forces are driving the pace of change in the natural pearl industry. The report indicates that in the future, the world wide Pearl industry will see sluggish growth of pearl jewellery sales and also an emergence of new markets,' Khaled said during his speech. The study gives insight on the current size and scale of the value chain, identifying trends that will have an impact on the future, predicting the likely state of the industry by 2010, recommending initiatives, and developing a roadmap for various players given the expected changes in the environment.
Market for pearls
According to the statistics given in the report, recent changes in seawater pearl production have been quite phenomenal. Production volumes of South Sea pearls (SSPs) from the white-lipped pearl oyster Pinctada maxima, were forecast to exceed 2,400 kan, a Japanese unit of mass (or nine tonnes) during 2006. This is a record. It is a stunning 2.6 times more than just six years ago. In spite of this tremendous increase in weight, the value only increased from $217 m in 1999 to an estimated $248m in 2005. This is an increase of only 14 per cent. In terms of Japanese yen, the values remain unchanged at 26bn. As on date, cultured South Sea pearls account for only one per cent of global production of pearls. In terms of value, Australia is the leader, with a market share of almost 50 per cent. Australian pearls are also on top when we talk quality and size and, consequently, unit price. Indonesia comes first when we talk about the number of oysters operated, the number of pearls produced, and their weight, which exceeds this year the 1,000 kan mark. The white SSP, in the context of the total seawater pearl production, has further expanded its 'market share' and stands now at almost 50 per cent. In spite of the tremendous increase in the production weight of white SSPs, the global seawater pearl market has not expanded in value during the past six years. It hovers around the $500m mark.
Wednesday, November 21, 2007
sheikha mai opens first international pearl convention
1. Shaikha Mai bint Mohammed Al Khalifa, Assistant Under-secretary for the Sector of Culture and Heritage in Bahrain’s Ministry of Information, opens first international Pearl Convention in Abu Dhabi on Monday. (pic attached as sheikha Mai)
2. Shaikha Mai bint Mohammed Al Khalifa, Assistant Under-secretary for the Sector of Culture and Heritage in Bahrain’s Ministry of Information, Khaled Al Sayegh, Chairman of International Pearl Revival Committee, Dr. Gaitone Cavalieri, president of CIBJO at the opening ceremony of first international pearl convention. ((pic attached as IPC opening)
Abu Dhbai, November 19, 2007 - HH Shaikha Mai bint Mohammed Al Khalifa, Assistant Under-secretary for the Sector of Culture and Heritage in Bahrain’s Ministry of Information, has opened the first International Pearl convention, the in Abu Dhabi on Monday. Convention expected to bridge yesterday’s tradition with tomorrows market needs corresponding to the changing fashion needs of new generation. “The convention will indeed lay the foundation for a remarkable and unique revival that gives us back our wonderful history within the pearl industry,” said Shaikha Mai, during her opening speech. “Currently, the global pearl farming is a $1.5-billion industry. In value terms, more than 50 per cent of this trade is composed of black pearls. Revival of the pearl industry is expected to boost the region's economy as a whole, which is now trying to tap more from non-oil industry,” she added.During his speech, Chairman of the Internatianal Pearl Revivival committee, Khaled Al Sayegh, said, “Though pearling has been an important economic activity in the Gulf region since ancient times, and pearling flourusihed from the latter half of the 19th century to the early decades of the 20th century, the discovery of oil and the invention of cultured pearls seemingly has put an end to the old days. But there is a purposeful effort to reestablish the pearling industry in the UAE. With this end in view, we have decided to host the First International Pearl Convention.”
Speakers at the four day long convention include Dr. Gaitone Cavalieri has now served as president of CIBJO for more than five years, Kenneth Scarratt Director of research for GIA Research Thailand and has 30 years of experience as a laboratory gemologist, Elisabeth Strack, from Gemmologisches Institut Hamburg, Germany, Stephen J. Kennedy Gemologist of the Gem Testing Laboratory of Great Britain. Worked and researched a lot in pearl treatment in past years, Nicholas Sturman gemological advisor of the Gem & Pearl Testing Laboratory, Manama, Bahrain, with experience more than 15 years in pearl testing, Shigeru Akamatsu General Manager, Sales Promotion Department, Mikimoto and Sutas Singbamorong Gem specialist Dubai central laboratory with experience more than 10 years in gemology had a lot of researches in gemstone and pearl.
"Historically, the world's best pearls came from the Gulf. They were naturally created and collected by breath-holding divers. The discovery of large deposits of oil put an abrupt end to pearl industry in early 1930's. Those who once fished pearls sought prosperity in the economic boom ushered in by the oil industry," said Abdulla Abdelqadir Al Muaini, head of Dubai Gemstone Lab Dubai Central Laboratory and officer on special duty, IPC & chairman of the organizing committee for seminars and summit.
"This initiative marks the re-initiation of our native trade which is also very close to our cultural heritage. In this region, pearl diving was the chief means of earning a livelihood, in the early 20th century. The seas surrounding the UAE were home to some of the best-known natural pearls, and local pearl divers made a decent living diving for pearls. We see great economic growth through the revival of the pearl industry via the global recognition of its point of origination," he concluded.
Thursday, November 15, 2007
Majorica Pearls (Imitation Pearls)
Majorica Pearls are imitation pearls made using a secret formula and not to be confused with cultured pearls or South Sea Pearls produced in pearl farms by the Pinctada Maxima oyster.
As the old saying goes "Imitation is the most sincere flattery" and there is no doubt these manufactured pearls are popular because they closely imitate the beauty of natural pearls.
Large quantities of these "pearls" are produced by a factory in Spain using a closely guarded secret formula originally developed by a German immigrant Eduardo Hugo Heusch in the 1890's. A strict quality control system has enabled these jewels to become recognised as the best imitation or faux pearls on the market
Over the centuries many people have tried to duplicate the beauty of natural pearls. Many use a substance called “essence d’orient" or "pearlessence" made with quanine crystals that reflect different wavelengths of light and give fish their natural refflective colours. By coating glass or plastic beads with variations of this substance pearl-like products are created for the cosmetic jewel market.
Natural pearls are produced by mollusks such as snails, whelks and conchs and bivalves (mussels, clams, oysters), both in fresh water and salt water. When an irritant such as a grain of sand lodges in these animals, they cover it with a protective coating to reduce the irritation, forming a pearl.
Pearl farming in the Northern Territory uses natural oysters to produce some of the finest pearls in the world
When you are shopping for jewellery be careful that the items you buy are correctly labeled. While many manmade jewels are quite pretty, they do not achieve the same monetary value of natural jewels such as diamonds, opals or pearls.
