GJEPC and NSDC take onus of selecting talent for World Skills Competition

WSC is the largest vocational skills competition globally. It takes place in a different country every two years and brings together over 1,000 young people, up to 22 years of age, from across the world to compete in a variety of skills ranging from weldi

Post By : IJ News Service On 06 May 2011 9:12 AM
Tara Durongkapitaya interviewed for our readers, graduated from the Faculty of Law, Chulalongkorn University. After receiving a Master's Degree of Business Administration from Indiana University of Pennsylvania, he has been working with Premier Diamond Cutting Limited which is 3rd generation of his family's business. Today he is Deputy Managing Director of the company. He has over 20 years of experience in diamond business. Excerpts of the dialoge: %% {{DW: Please tell us about the inception, growth and present status of Premier Diamond Cutting Ltd. in the global arena.}} %% {{Tara Durongkapitaya:}} About The Premier: %% A vertically integrated group of diamonds, gemstones and jewellery companies with a global reputation for high quality, superior service and infinite resources. $$ It originated from Bay Chin Teck Co., Ltd., a small diamond and gold jewellery shop in Bangkok's China Town way back in 1905. It gradually expanded and prospered to become 'The Premier' Group which consists of:
{[Premier Diamond Cutting Ltd. - one of the Diamond Trading Company's Sightholders-manufacturer of polished diamonds named 'Premier Cut.' ]} {[Premier Gems Trading Co., Ltd., - a world class precious gemstones company - manufacturer and wholesaler of quality rubies and sapphires. ]} {[Premier Jewellery (MFG) Co., Ltd., - manufacturer and wholesaler of 14k, 18k gold jewellery set with diamonds and colored stones. ]} {[Mei Thai Diamond Cutting Works (Meizhou) Ltd. - an affiliated diamond cutting factory in Guangdong, China. ]} {[Bangkok Cut Diamond Co., Ltd. - an affiliated diamond cutting factory in Pathumtani, Thailand.]}
Premier Diamond Cutting Ltd's. Profile:
{[Premier Diamond Cutting Ltd's. Profile:]} {[The only indigenous Thai DTC Sightholder]} {[Manufacture of polished diamonds named 'Premier Cut'. ]} {[Emphasizes on top quality and highest standard of top makes with very good proportion, symmetry balance and excellent polishing ]} {[Worldwide acceptance of 'Premier Cut', one of the most beautiful diamonds. ]} {[ Possessing another two diamond cutting facilities named Mei Thai Diamond Cutting Works Ltd. and Bangkok Cut Diamond Co., Ltd. ]} {[ The facilities are fully equipped with state-of-the art diamond cutting machines and focused on sophisticated polishing technologies and skilled workforce. ]}
{{DW: Since Thailand is known to be the world center for colored gem stones, was it not difficult for you start something different there, we mean diamond cutting and polishing? }}
Aim- One Stop Gems Centre:
T.D.: Thailand is known to be the world centre for colored gemstones. However it was not difficult to start something different such as diamond cutting and polishing. With the vision of Vichit Durongkapitaya, my father who was a pioneer in Thai diamond industry, he realized that Thailand had long experience in the production of rubies and sapphires with maximum value addition and its highly skilled craftsmanship was an advantage to be trained for diamond cutting. He decided to set up Thailand's first diamond cutting factory in 1979 by bringing in diamond cutting specialists to train his workers with the hope to supply polished diamonds to the world market. By that time, he thought that it would more convenient for international buyers who came to Thailand to purchase both colored gemstones and diamonds in the same visit.
Official Blessings:
T.D.: The Thai government has given full support and co-operation to diamonds, gemstones and jewellery industries as they are included among the ten leading export industries of the kingdom and contribute significantly to the national economy. For example the, diamond manufacturing facilities receive Board of Investment (BOI)'s promotional privileges such as technology development, tax saving measures, duty exemption on capital goods and raw material, etc. %% At present, the Thai government has also set up many projects from its zero VAT for diamond and gemstones to its Bangkok Fashion City Campaign including new education programs for the growing industry.
China not a Threat:
{{DW: Currently China is progressing fast in diamond cutting; will it pose a threat to the Thai diamond sector?}} %% T.D.: We do not see China as a threat. Rather, the competition makes the market active and results in better products for consumers. %% 'Premier' Different from Indian Cuts: %%{{ DW: What strategy do you adopt in dealing with Indian competitors?}} %% T.D.: Our "Premier Cut" is different from Indian goods in terms of very good to excellent proportion, symmetry and polishing and it is recognized among discerning customers as one of the world's most beautiful diamonds. We will continue to maintain the distinguished sparkle, brilliance and fire in our diamonds. %%{{ DW: What are the main activities of Premier Diamond Cutting Ltd. other than diamond cutting and polishing?}} %% T.D.: Our main activities, apart from diamond cutting and polishing are jewellery manufacture and wholesale in 14k, 18k gold set with diamonds and colored stones, diamond jewellery retail in local market and precious gemstones cutting and polishing for export and wholesale.
{{DW: DTC has recently increased its rough prices; any comment?}} %% T.D.: We understand that the Diamond Trading Company has to increase its rough prices due to many factors. But the rough in the open markets are more expensive when compared with DTC goods. Because of the rough prices, the polished prices have been adjusted upwards. Customers accept to pay more for what they really need to buy. They are reluctant to pay higher on the normal goods but they will look for cheaper source that can offer them the best price in order to reduce their cost, leading to low profit margins. %% DW: Which are the major markets for the exports of your polished, and diamond studded jewellery? %% T.D.: The major markets for the exports of our polished diamonds are Japan, Asian Pacific, Australia, New Zealand, USA and Europe. %% Our diamond jewellery is exported to USA, Europe, Japan, Australia, etc. %%{{ DW: How has the recent diversification to jewellery manufacturing helped the diamonds cutters the world over? }} %%T.D.: The recent switch over the jewellery manufacturing helps the diamond industry a lot as they can simulate the market interest and increase demand for diamonds through their promotions and publicity.
Good Fluctuations not Detrimental:
{{DW: Please comment on recent gold price fluctuations and the adverse impact thereof on your trade?}} %% T.D.: The recent gold price fluctuations do not have much impact on our jewellery trade division because we always calculate the gold price on the day that we receive the order so that we can cover the risk of gold price fluctuations. %%{{ DW: More and more branded jewellery is entering the market; how do you plan to remain different among the crowd?}} %% T.D.: We are confident that our branded jewellery will be distinct among the crowd because we always focus on using quality diamonds in them and our designs are exquisite and innovative. Customers are also assured of our strict production standards and quality control measures. %%{{ DW: Please let us know about future plans of your Group's expansion. }} T.D.: We plan to expand out factory by increasing production capacity of 'Premier Cut' polished diamonds and manufacturing more jewellery for export and wholesale. Also we will increase sales volume for 'De Preco' our branded jewellery retail by having more outlets across the country. As present we have 11 De Preco outlets in major shopping centers throughout Thailand. %%{{ DW: As has been declared by some African countries, how will it affect the diamond cutters the world over, if the mining countries start cutting and polishing their own rough?}} %% T.D.: As for cutting and polishing, every centre has its own specialty like our factory which maintains the very best quality. But the prospect that causes concern is that it may affect rough supply from the diamond mining countries.

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