Company Profile: New Wave Ventures Sdn Bhd (1330634-P).
– your trusted and reliable au Gold Bullion and Dore bars supplier.
​
1. Who we are:
​
New Wave Ventures Sdn Bhd is a Malaysian-registered private limited company with its principal activities in international commodity trade and brokerage. Our area of expertise, or rather our core business, is in au gold bullion and Dore bars trade and brokerage. The company is owned by a former banker who has over 30 years’ experience in retail banking and over 3 years’ experience in the global gold trade business.​
​
We are a trusted gold bullion re-seller with a global presence and having international networks of gold brokers and facilitators in all key gold markets around the world.
​
We have successfully entered into a re-seller agreement with a gold bullion and Dore bars principal seller cum title holder who is from UK but resides in Spain.
He has huge quantity of gold in depository in Zurich, Dubai, Hong Kong, London, Frankfurt, USA and Singapore and sells on FOB for these markets. The au gold bullion is kept in private security warehouses in free trade zones at these locations.​
​
At New Wave Ventures Sdn Bhd, we provide our clients with the highest quality gold bullion consulting and trade services. With our global presence and commitment to excellence, we are a trusted name in the industry. Our team of experts works tirelessly to ensure that our clients receive the best possible service.
​
Having over 30 years’ experience in the banking industry and being groomed up in an environment where integrity matters, upholding our reputation comes first to us in everything we do. Time is valuable to us. We act with speed while at the same time observing sound risk management in everything we do.​
​
Contact us to learn more about how we can help you obtain a reliable supply of AU gold bullion, Dore bars as well as rough diamonds.​
​
2. What we believe: Our guiding principles:​
​
At New Wave Ventures Sdn Bhd, we believe in being true to what we are doing, being true to our mission to provide top notch services to our customers who are global end buyers of au gold bullion and Dore bars and to our principal who is the title holder of the products we sell. We believe in doing our business with utmost integrity and responsibility, putting the fear of God in everything we do.​
​
3. Our Commitments:​
​
​We are committed to scam-free dealings and the supply of gold bullion or Dore bars is guaranteed so long the buyer complies with the principal seller’s transaction procedures.​
​
We are available for zoom meeting with prior request given as part of our pre-dealing procedures as we are committed to be transparent to our buyers.​
There are lots of fears and skepticism in any gold transaction.​
​
a). Fear of fraud: There is always risk of fraud or scams in any business or industry and gold business is no exception. We are therefore committed to protecting the interests of all parties, especially our buyers, and ensure scam-free dealings. For that reason, we require buyers’ LOI on buyers’ letterhead and CIS and signed FCO for our DD purpose before we issue the SPA. This website is created so that the prospective buyers are able to performs DD on us.
b). Fear of no supply: Fear that the seller has no gold to sell or is unable to supply: We can categorically confirm that so long the buyer’s LOI is accepted, and SPA is approved by the Principal Seller, supply is assured. In any case, there is a penalty clause of 1% in the event of default by the principal seller. ​
​
4. Our Products & Services:
​
At New Wave Ventures Sdn Bhd, we offer Dore bars and hallmark gold bullion for sale, both GLD and Non-GLD gold. Our gold is available on the ground in Dubai, Hong Kong, Zurich, London, Frankfurt, USA and Singapore and transacted on FOB basis in these locations. We also deal in rough diamonds and our depository is based in London.
​
​The principal seller does not deal with buyers. All buyers must go through my company first. The principal seller will only meet the buyer during TTM and for the delivery of the gold to the buyers.
​
4.1. Commodity:
​
We deal in gold bullion bars, over 5 years and below 5 years, GLD and non-GLD, both hallmarked and non-hallmark. The hallmarked gold is of Metalor, Heraeus and J&M brand.
​
We also have stocks of Dore bars with fineness of 98%.
​
4.2. Size:
Both 1 Kg and 12.5 KG are available.
​
4.3. Origin:
Country of origin is from West Africa and from non-criminal sources. The sourcing is done in full compliance with LBMA regulations.
​
4.4. Current locations:
Stocks are held in a prime custodian bank’s vault /warehouse. The address shall be detailed in the safe-keeping receipt (SKR).
​
​4.5. Price & Discounts:
Gold over 5 years: Gross 14% Net to buyer 11%.
Gold below 5 years: Gross 12% Net to buyer 9%.
Dore Bars: Gross 15% Net to buyer 12%.
​
4.6. Refinery and Assay:
For gold over 5 years, buyer can choose to do full re-smelting and pays only after re-smelting done and new certificates issued.
For gold under 5 years, the buyer pays after assay certificate is completed.
​
4.7. Delivery & Storage:
The buyer may arrange for the gold to be delivered to his chosen LBMA refinery for assay. Storage of the gold free for a period of 6 months only after that it will at buyer’s costs.
​
4.8. Minimum and Maximum Order:
Against USDT: 1 MT trial is acceptable. Maximum 100,000 MT.
​
Against SBLC 760, Blocked funds MT 799, MT 103 On L2L, DLC 700 or MT 103-202: Minimum trial is 5 MT. Maximum order per year is 250,000 MT.
​
Against 3rd Party Guarantor: Minimum trial 10 MT. Maximum order per year is 1,200 MT.
​
4.9. Payment Guarantee:
Our transaction procedures is based on payment guarantee before delivery where MT 600 SKR (with full banking responsibility) TTM invitation and ATV are sent by the gold custodian bank after buyer’s payment guarantee is authenticated.
​
4.10. Currency: Both USD and Euro are accepted.
​
4.11. CIF: We only do CIF procedures for locations with reputable international airports.
​
4.12. Agents Fees: 1.5% seller’s side is closed. 1.5% buyer’s side is open.
​
5. Transaction Procedures:
​​International gold bullion transactions are largely dictated by its transaction’s procedures.
Our transaction procedures are payment-guarantee based meaning that MT 600 SKR (with full banking responsibility), TTM invitation and ATV (authority to view) will only be sent AFTER payment guarantee is emplaced. We also accept USDT which will serve as both 'payment guarantee' and 'payment' for the gold.​
​
​We accept Swift MT 799 Blocked Funds, MT 760 SBLC with 2% PB, MT 700 DLC, MT 103-202 as well as Refundable Cash Indemnity Deposits of USD450,000 per SPA (which will revolve for the entire contract period). Banking Instruments shall have tenor of 1 year and 1 day and must be transferable and negotiable.
​For transactions under Refundable Cash Indemnity option, the maximum order is 100 MT per month or 1,200 MT per year.​
​
​6. USDT Transaction Procedures - Suggested
Buyers are advised to start with small trial of 1 MT against USDT in order to get to TTM with the principal seller and visit the warehouse to see the gold bullion.
After the buyer has received the MT 600 SKR for the 1 MT, TTM invite and ATV from the seller’s gold custodian bank, the buyer will be able to see the gold on the ground in Dubai.
Once the buyer is satisfied that the seller has the gold, the buyer can proceed to do the USDT transfer for the balance of, say, 999 MT, for the total quantity of 1,000 MT.
The delivery and assay at mutually agreed warehouse for the 1 MT and 999 MT can be done simultaneously.
Once the ownership transfer to the buyer is completed, only then the receiver will convert the USDT to USD and credit the seller’s fiduciary account and commission paid to facilitators paid.
​
​​​7. Ledger-to-Ledger (L2L):
​We also do ledger to ledger transaction procedures but our L2L is different from the usual L2L in the market. Our L2L is based on MT 103 On ledger-to-ledger transfer payment guarantee (comes with 2% PB) and it involves:​
​a. White slip copy.
b. Black slip copy.
c. Remittance advice.
d. Debit Note.
e. MT 940 ledger statement.
f. ECB Release Code.​
​Please consult your nearest bank officer or remittance officer regarding this matter.
​
​​8. Full Corporate Offer (FCO):
​Interested buyers may request FCO directly from us. In submitting your request, we require the following information:
​Location where the gold to be sent to (Dubai, Zurich, Frankfurt, London, Singapore, Hong Kong or USA).
1. What is the trial quantity.
2. What is the monthly delivery quantity.
3. What is the payment guarantee (Swift MT 799 Blocked Funds, SBLC 760, DLC 700, MT 103-202, USDT, or Refundable Cash Indemnity deposits of 450,000 USD)
​
​9. Parties to the transaction procedures:
​Our procedures have multiple layers of security checks to protect the interest of the title holder cum principal seller, re-seller, and our buyers.
​
​First, there is authorized re-seller i.e. New Wave Ventures Sdn Bhd. New Wave Ventures performs all the marketing activities and attending to enquiries from international brokers, does due diligence on the buyers, issuance of SPA which will then be sent to the title holder for approval, perform issuance of commercial invoices and also liaising with both the buyers, brokers and title holder. As authorized re-seller, we take our instruction from the title holder.
​
​​Second, we have the appointed receivers who will receive the payment guarantee from our buyers, authenticate the banking instruments and confirm to the title holder that the buyer's payment guarantee is good to go after which the title holder will instruct his custodian bank to sent MT 600 SKR with full banking responsibility, TTM invitation and ATV to the buyer. Different banking instruments are handled by different receivers. Our receivers maintain accounts with global top banks and in countries where they have robust financial system with less restriction on international fund movements. Their responsibilities include authenticating the buyer's payment guarantees, and once MT 103 payment is received from the buyers, they will do get the necessary approval to clear the funds and distribute the funds based on the principal seller's instruction including for payment of fees and commissions. Fiduciary receiver does not deal with buyers. They don't prepare SPA, IMFPA or commercial invoices.
​
​Third, we have a gold custodian bank which will send Swift MT 600 SKR, TTM invitation and ATV to the buyers. This is done after the fiduciary receiver confirmed to the principal seller cum title holder that the payment guarantee is in order.
​
Fourth, the actual delivery of the gold to the buyer is done by the principal seller himself as all the gold license is with him. He will be present during TTM and meeting the buyers and making arrangement with the end buyers on the delivery, assay and ownership transfer of the gold bullion.
​
​​​10. Hybrid Transaction Procedures:
​In gold business, proof of product is paramount. Recognizing this fact, we are also launching our hybrid procedures where we are engaging with a reliable 3rd party (who has deep understanding of gold business) to provide the cash deposits payment guarantee on behalf of the buyers) for a small fee which will be borne by the principal seller cum title holder.
​
​This is only for the first trial (if the order is above 1,200 MT) after which the buyer will issue the banking instruments for the monthly delivery of the gold bullion.
​
​11. SBO & BBO Transaction Procedures:
​SBO & BBO transaction procedures are where after the buyer and seller completed signing the SPA, the SPA is lodged with their respective banks and then the transaction is taken over by the SBO and BBO. The next step is where the buyer’s Bullion Officer (BBO) will liaise directly with the seller’s bullion officer (SBO).
​
​The BBO will send to the SBO buyer's proof of funds (POF) via MT 199 and responded by the SBO who will then send Proof of Product (POP) via MT 600 SKR.
​Then the SBO and BBO jointly calculate the purchase price based on the terms of the SPA after which the BBO sends payment via MT 103 to the SBO. The SBO responded by changing the ownership of the SKR to the buyer.
​
​However, we do not do 'SBO & BBO' procedures, and our procedures are not negotiable.
​
​12. Issuance of SPA - turnaround time:
​For issuance of SPA, we require the signed (and sealed) FCO, signed LOI on buyer's letterhead and buyer's complete CIS. We normally issue SPA within 24 hours after receipt of complete documents from our buyers.
​
​13. ​Compliance with AMLA and other international regulations:​
In gold business, strict compliance with AMLA and those important international regulations are important in order to protect the interest of all stakeholders.
Gold transactions involve huge amounts of funds. Multiple layers of checks and verifications by both buyer's bank and seller's bank ensure that each transaction are done in full compliance with AMLA and other relevant international l regulations.
Our background in banking taught us the importance of strict compliance with statutory regulations and adoption of sound risk management in everything we do as a way to protect the interests of all stakeholders. ​
​
​​14. CONTACT US:
​
​Registered Address:
3rd Floor, Lot 220, Section 11, KTLD, Jalan Satok, Kuching, Sarawak, Malaysia.
​
​Mobile:
​
​Email:
petersese1@newwave-ventures.net​
​
​​​
​
Peter Sese Kabit
CEO
New Wave Ventures Sdn Bhd