[WHAT] Opening of Central International Watch Fair 2009.
HRH Princess Soamsawali views the watch exhibition, accompanied by Yuwadee Chirathivat and Sirikate Chirakiti.
[WHERE] Event Hall, 3rd floor, Central Chidlom.
Atichart Chumnanont with Parmigiani Fleurier and Araya Aharget with Piaget’s Limelight High Jewellery 89,900,000.
[HOST] Yuwadee Chirathivat, president of Central Department Stores.
Tos Chirathivat.
[HIGHLIGHT] Watch fashion show, in the presence of HRH Princess Soamsawali, by celebrities as well as leading actors, actresses and models.
Dr Suvit and Khunying Songsuda Yodmani.
Thanop with Namon, his son; Navipa; and Chaiyos Eiamamornpan.
MRSupanee Diskul, Alena Piamkulawanich with Cartier, Pumi Sarasin with Audemars Piguet’s Millenary, Prae Sarasin and Pantila Debhakam.
Aonanong and Atiporn Senavong.
Friday, August 28, 2009
Thursday, August 27, 2009
DSI seizes B15m in fake watches, arrests suspect
The Department of Special Investigation has arrested a man for intellectual property violations and seized more than 10,000 counterfeit watches worth 15 million baht.
The haul followed raids on Wednesday on shops in the Charassaeng Pattana building in Samphanthawong district and a house in the Taling Chan area.
The DSI said 10,362 counterfeit watches bearing the names of leading luxury brands such as Tag Heuer, Patek Philippe, Rolex and Panerai were confiscated.
Somchai Arunnamchoke,44, was arrested for possessing the counterfeit items with intent to sell.
Mr Somchai was arrested on the same charges two years ago.
He has been released after posting bail of 100,000 baht.
DSI deputy chief Narat Sawettanant said confiscation of the counterfeit goods was part of the government's drive to have Thailand withdrawn from the US Priority Watch List for intellectual property violations.
He said most of the fake luxury watches confiscated by authorities were imported from China.
Pol Col Prawet Mukpramol, chief of the DSI's intellectual property unit, said the office was seeking amendments to the anti-piracy law to toughen the penalties against those who violate copyrights or patents.
The haul followed raids on Wednesday on shops in the Charassaeng Pattana building in Samphanthawong district and a house in the Taling Chan area.
The DSI said 10,362 counterfeit watches bearing the names of leading luxury brands such as Tag Heuer, Patek Philippe, Rolex and Panerai were confiscated.
Somchai Arunnamchoke,44, was arrested for possessing the counterfeit items with intent to sell.
Mr Somchai was arrested on the same charges two years ago.
He has been released after posting bail of 100,000 baht.
DSI deputy chief Narat Sawettanant said confiscation of the counterfeit goods was part of the government's drive to have Thailand withdrawn from the US Priority Watch List for intellectual property violations.
He said most of the fake luxury watches confiscated by authorities were imported from China.
Pol Col Prawet Mukpramol, chief of the DSI's intellectual property unit, said the office was seeking amendments to the anti-piracy law to toughen the penalties against those who violate copyrights or patents.
Monday, August 24, 2009
GOLD TRADERS WARN OF VOLATILITY IN WEEKS AHEAD
The next few weeks will be a crucial period for gold prices, and slight volatility is expected to indicate whether bullion prices will rise to US$1,000 (Bt34,100) or fall to $880 an ounce this year.
Gold traders have warned of volatility from the derivatives market rather than physical gold trading. Oil prices and the US dollar are still affecting gold prices more than real gold consumption is, but it is uncertain whether oil prices will continue to increase, because movements to date are believed to have been forced by hedging.
Gold Traders Association deputy secretary-general Kritcharat Hirunyasiri said that over the past month, there had been no clear signs of whether gold prices would rise or fall. Prices had moved in a range of $935 to $965 an ounce, but the range was narrowing, and it was expected that a clear direction would become obvious within the next two weeks.
Kritcharat said if the gold price broke through the $963-an-ounce level, it could rise to $980 and then $1,000 by year-end. However, if it failed to break $930 an ounce, the price could fall to $900.
"The dollar has more of an effect on gold prices," Kritcharat said. "For example, last Friday night the gold price increased $15 per ounce after the dollar depreciated from 1.422 to the euro 1.435, while oil prices made a smaller impact."
Although the golbal economy has begun to recover from the economic crisis, the US Federal Reserve is unlikely to adjust its interest rate in the short term. Inflation remains low and does not affect gold prices much even though inflation and gold prices are correlated, he said.
President Jitti Tangsithpakdi said it was possible gold would reach $1,000 an ounce this year, because the global economy had still not stabilised. Therefore, people are still investing in gold. As well, there is always high demand for gold at the end of a year.
However, gold prices will not swing as much as they did last year, because funds are investing in many markets, including equities, oil and gold, he said.
Secretary-general Pichaya Phisuthikul said that in the middle of the month, the gold price declined, but it increased again in the past week as oil prices rose to $60 to $70 a barrel.
Gold prices will remain volatile, he said. Normally, gold prices move contrary to the Equity Index, but recently when equities have risen, gold prices have sometimes risen, as well.
"The present gold price is not related to real consumption at all but rather affected by funds investing in the gold market.
"The recovery, which has been seen in stock markets like Wall Street, including oil-price increases, is still not certain. I believe the economy, which has been severely damaged, needs more time for recovery. Therefore, the present oil-price and Equity Index rises may be an illusion, because they show an adjustment much better than fundamentals," Pichaya said.
If oil prices and the Equity Indexes fall again, the gold price will also be affected. In Pichaya's view, gold prices are capable of peaking at $980 an ounce or bottoming at $880.
Meanwhile, Bloomberg said gold, little changed in London yesterday, might decline as a stronger dollar erodes the metal's appeal as an alternative investment. Palladium rose to its highest price in almost a year.
The US Dollar Index, a six-currency gauge of the greenback's value, rebounded from a two-week low, gaining as much as 0.4 per cent. Gold, which typically moves inversely to the dollar, added 1.4 per cent last Friday, the most this month.
"The market is likely to retreat towards $925 to $930 an ounce, provided the dollar rebounds from current lows," said VTB Capital analyst Andrey Kryuchenkov in London.
Immediate-delivery bullion climbed 45 cents, or 0.1 per cent, to $954.30 an ounce yesterday after advancing 0.6 per cent last week.
December gold futures rose 90 cents, or 0.1 per cent, to $955.60 an ounce on the New York Mercantile Exchange's Comex division.
Gold traders have warned of volatility from the derivatives market rather than physical gold trading. Oil prices and the US dollar are still affecting gold prices more than real gold consumption is, but it is uncertain whether oil prices will continue to increase, because movements to date are believed to have been forced by hedging.
Gold Traders Association deputy secretary-general Kritcharat Hirunyasiri said that over the past month, there had been no clear signs of whether gold prices would rise or fall. Prices had moved in a range of $935 to $965 an ounce, but the range was narrowing, and it was expected that a clear direction would become obvious within the next two weeks.
Kritcharat said if the gold price broke through the $963-an-ounce level, it could rise to $980 and then $1,000 by year-end. However, if it failed to break $930 an ounce, the price could fall to $900.
"The dollar has more of an effect on gold prices," Kritcharat said. "For example, last Friday night the gold price increased $15 per ounce after the dollar depreciated from 1.422 to the euro 1.435, while oil prices made a smaller impact."
Although the golbal economy has begun to recover from the economic crisis, the US Federal Reserve is unlikely to adjust its interest rate in the short term. Inflation remains low and does not affect gold prices much even though inflation and gold prices are correlated, he said.
President Jitti Tangsithpakdi said it was possible gold would reach $1,000 an ounce this year, because the global economy had still not stabilised. Therefore, people are still investing in gold. As well, there is always high demand for gold at the end of a year.
However, gold prices will not swing as much as they did last year, because funds are investing in many markets, including equities, oil and gold, he said.
Secretary-general Pichaya Phisuthikul said that in the middle of the month, the gold price declined, but it increased again in the past week as oil prices rose to $60 to $70 a barrel.
Gold prices will remain volatile, he said. Normally, gold prices move contrary to the Equity Index, but recently when equities have risen, gold prices have sometimes risen, as well.
"The present gold price is not related to real consumption at all but rather affected by funds investing in the gold market.
"The recovery, which has been seen in stock markets like Wall Street, including oil-price increases, is still not certain. I believe the economy, which has been severely damaged, needs more time for recovery. Therefore, the present oil-price and Equity Index rises may be an illusion, because they show an adjustment much better than fundamentals," Pichaya said.
If oil prices and the Equity Indexes fall again, the gold price will also be affected. In Pichaya's view, gold prices are capable of peaking at $980 an ounce or bottoming at $880.
Meanwhile, Bloomberg said gold, little changed in London yesterday, might decline as a stronger dollar erodes the metal's appeal as an alternative investment. Palladium rose to its highest price in almost a year.
The US Dollar Index, a six-currency gauge of the greenback's value, rebounded from a two-week low, gaining as much as 0.4 per cent. Gold, which typically moves inversely to the dollar, added 1.4 per cent last Friday, the most this month.
"The market is likely to retreat towards $925 to $930 an ounce, provided the dollar rebounds from current lows," said VTB Capital analyst Andrey Kryuchenkov in London.
Immediate-delivery bullion climbed 45 cents, or 0.1 per cent, to $954.30 an ounce yesterday after advancing 0.6 per cent last week.
December gold futures rose 90 cents, or 0.1 per cent, to $955.60 an ounce on the New York Mercantile Exchange's Comex division.
A diamond is not forever, towns learn
The glittering diamonds are almost gone and as the lustre fades on South Africa's Diamond Coast, desperate ghost towns are left clinging to the last signs of life.
The heyday of diamond mining may be over, but the restoration of a oncepristine landscape along the country's west coast should turn this wasteland of scarred earth into a tourist paradise.
Isolated under strict security for 80 years of mining, towering mine dumps reach hundreds of metres into the air along the coast, the site of one of the most ambitious mining restoration projects to date.
It's hard to believe it by looking at the area now. The sole customer in a supermarket on a recent day in one of the mining towns, Kleinzee, said the industry has left it looking as if a "nuclear bomb was dropped on it."
Since 2007 the world's leading diamond company De Beers has drastically cut operations at its Namaqualand mines as the precious gem runs out, reducing staff from about 3,000 to 250.
Globally, known diamond reserves are expected to run out in 30 years.
Kleinzee, located about 600 kilometres (370 miles) north of Cape Town in the country's biggest and most sparsely populated province of Northern Cape,is entirely owned by the diamond giant.
Schools, recreation centres and houses stand mostly empty.
Its mine has already shut down and residents wait desperately for officials to proclaim an end to its life as a privately owned mining town so individuals can buy homes themselves and try to breathe life back into business.
"All my friends lost their jobs. This is a mining town, what must they do here?"said local supermarket owner Ann Engelbrecht, whose sales have dropped 60% with only a trickle of tourists and locals sustaining her.
She took over the Spar in 2007 after working for De Beers since 1984, and says she has already had two heart attacks from the stress, making opening hours ever later and shutting down completely over weekends.
"It is just not worth it anymore. Business is so bad but I really believe if the town is proclaimed it will get better."
De Beers, grappling with how to leave the town, is partnering with conservationists to reinvigorate the area through tourism, fish farming and other industries.
The project highlights increasing concerns about the environmental footprint left by mining and the responsibility of companies to mitigate it.
Gert Klopper, De Beers Namaqualand spokesman, says the company hopes the project will improve the image of the diamond industry, long blighted by conflict and violence.
"I think it's the first time anywhere in the world that it (restoration) has taken place on such a large scale," he said of the 463 million rand ($56 million) project.
De Beers owns some 10% of South Africa's 2,500-kilometre coastline, much of which has been extensively mined.
Conservation experts are now busy filling gaping holes and transplanting sensitive plant species to restore the vast plains to their former glory.
"The succulent Karoo is one of only two arid hotspots in the world with more than 4,500 plant species. The whole of Europe doesn't have the same number of plant species," says environmental officer Werner Nel.
Klopper notes that while some 10,000 hectares (25,000 acres) have been mined,a total of 90,000 hectares were restricted from the public for decades, meaning "huge tracts of land have been pristinely preserved."
Thick and varied vegetation which comes alive with wildflowers in spring stretches for miles to sandy white dunes and idyllic beaches ideal for surfing.
With the rest of South Africa's coast overdeveloped, it is hoped a new tourist attraction will be created along with hundreds of jobs in the most isolated corner of the country.
Sea water pumps designed for mining are now helping fill the pits, which are being turned into oyster and abalone farms.
Already exposed bedrock is being eyed for nearly 100 wind turbines along the wind-blown coastline - to create much needed renewable energy in the powerstrapped country.
Other plans are underway to create land art, a marina, seawater greenhouses and hiking trails, and even to turn one massive pit into a concert venue.
"It will take 10,20,30 years to get to the point that you can't see mining happened here," says Andre Meyer of the Nurture, Restore, Innovate project which is restoring the land for De Beers.
The heyday of diamond mining may be over, but the restoration of a oncepristine landscape along the country's west coast should turn this wasteland of scarred earth into a tourist paradise.
Isolated under strict security for 80 years of mining, towering mine dumps reach hundreds of metres into the air along the coast, the site of one of the most ambitious mining restoration projects to date.
It's hard to believe it by looking at the area now. The sole customer in a supermarket on a recent day in one of the mining towns, Kleinzee, said the industry has left it looking as if a "nuclear bomb was dropped on it."
Since 2007 the world's leading diamond company De Beers has drastically cut operations at its Namaqualand mines as the precious gem runs out, reducing staff from about 3,000 to 250.
Globally, known diamond reserves are expected to run out in 30 years.
Kleinzee, located about 600 kilometres (370 miles) north of Cape Town in the country's biggest and most sparsely populated province of Northern Cape,is entirely owned by the diamond giant.
Schools, recreation centres and houses stand mostly empty.
Its mine has already shut down and residents wait desperately for officials to proclaim an end to its life as a privately owned mining town so individuals can buy homes themselves and try to breathe life back into business.
"All my friends lost their jobs. This is a mining town, what must they do here?"said local supermarket owner Ann Engelbrecht, whose sales have dropped 60% with only a trickle of tourists and locals sustaining her.
She took over the Spar in 2007 after working for De Beers since 1984, and says she has already had two heart attacks from the stress, making opening hours ever later and shutting down completely over weekends.
"It is just not worth it anymore. Business is so bad but I really believe if the town is proclaimed it will get better."
De Beers, grappling with how to leave the town, is partnering with conservationists to reinvigorate the area through tourism, fish farming and other industries.
The project highlights increasing concerns about the environmental footprint left by mining and the responsibility of companies to mitigate it.
Gert Klopper, De Beers Namaqualand spokesman, says the company hopes the project will improve the image of the diamond industry, long blighted by conflict and violence.
"I think it's the first time anywhere in the world that it (restoration) has taken place on such a large scale," he said of the 463 million rand ($56 million) project.
De Beers owns some 10% of South Africa's 2,500-kilometre coastline, much of which has been extensively mined.
Conservation experts are now busy filling gaping holes and transplanting sensitive plant species to restore the vast plains to their former glory.
"The succulent Karoo is one of only two arid hotspots in the world with more than 4,500 plant species. The whole of Europe doesn't have the same number of plant species," says environmental officer Werner Nel.
Klopper notes that while some 10,000 hectares (25,000 acres) have been mined,a total of 90,000 hectares were restricted from the public for decades, meaning "huge tracts of land have been pristinely preserved."
Thick and varied vegetation which comes alive with wildflowers in spring stretches for miles to sandy white dunes and idyllic beaches ideal for surfing.
With the rest of South Africa's coast overdeveloped, it is hoped a new tourist attraction will be created along with hundreds of jobs in the most isolated corner of the country.
Sea water pumps designed for mining are now helping fill the pits, which are being turned into oyster and abalone farms.
Already exposed bedrock is being eyed for nearly 100 wind turbines along the wind-blown coastline - to create much needed renewable energy in the powerstrapped country.
Other plans are underway to create land art, a marina, seawater greenhouses and hiking trails, and even to turn one massive pit into a concert venue.
"It will take 10,20,30 years to get to the point that you can't see mining happened here," says Andre Meyer of the Nurture, Restore, Innovate project which is restoring the land for De Beers.
Friday, August 21, 2009
Putin pledges $1bn for diamon miner
Russian Prime Minister Vladimir Putin pledged yesterday $1 billion in state support for the diamond miner Alrosa this year to help it ride out a steep global decline in demand for gemstones.
"The overall level of support for the sector should total 30-35 billion roubles ($949.4 million-$1.11 billion) this year,"Putin told a meeting of senior officials after visiting Alrosa's giant Mir diamond mine in eastern Siberia.
"This is difficult to do with the background of the financial-economic crisis,but we shall do it," Putin said.
The state support, which will include more state purchases of gems, is likely to help state-controlled diamond miner Alrosa service about $3.6 billion in outstanding debt.
Two sources who declined to be identified said the $1 billion would be used by the State Precious Metals and Gems Repository (Gokhran) to buy diamonds from Alrosa.
Alrosa, the main rival to De Beers,produces one quarter of the world's rough diamonds and is one of the main sources of income for Russia's Yakutia region,home to 950,000 people.
"We understand that this sector, which gives serious revenues to the federal budget and regional budget, is in a difficult situation and needs support due to the global market situation," Putin said."To support the sector, the state has agreed to significantly increase state purchases of diamonds."
He said the state purchases by Gokhran had risen to 14.5 billion roubles from 3.7 billion roubles, but gave no details about purchases planned for 2010.
Diamond producers across the globe have been badly hit by weak demand.The world's largest diamond producer,De Beers, which is 45%-owned by mining group Anglo American Plc, has said demand should pick up in the second half.
Alrosa president Fyodor Andreyev said yesterday that he expected diamond demand would recover by 2011 as long as there were no second wave to the financial crisis.
Putin also ordered officials to work out a way to give a state guarantee to Alrosa to help it restructure its debts to domestic and foreign creditors.
Diamond sales make up 30% of the local government's revenue in Yakutia,which covers an area about one-third the size of the United States.
Alrosa, which traces its history to the diamond mines set up the Soviet Union in Yakutia in the 1950s, employs 15,000 people and produces 97% of Russia's rough diamonds.
"In recent years,$17.5 billion of diamonds have been found here (in Mirny)and about $80 billion in the republic as a whole, but when you work out how much has actually been invested here in the republic, in its infrastructure, the figures are really not very significant,"Putin said."The problems come from this and have been mounting for decades."
"The overall level of support for the sector should total 30-35 billion roubles ($949.4 million-$1.11 billion) this year,"Putin told a meeting of senior officials after visiting Alrosa's giant Mir diamond mine in eastern Siberia.
"This is difficult to do with the background of the financial-economic crisis,but we shall do it," Putin said.
The state support, which will include more state purchases of gems, is likely to help state-controlled diamond miner Alrosa service about $3.6 billion in outstanding debt.
Two sources who declined to be identified said the $1 billion would be used by the State Precious Metals and Gems Repository (Gokhran) to buy diamonds from Alrosa.
Alrosa, the main rival to De Beers,produces one quarter of the world's rough diamonds and is one of the main sources of income for Russia's Yakutia region,home to 950,000 people.
"We understand that this sector, which gives serious revenues to the federal budget and regional budget, is in a difficult situation and needs support due to the global market situation," Putin said."To support the sector, the state has agreed to significantly increase state purchases of diamonds."
He said the state purchases by Gokhran had risen to 14.5 billion roubles from 3.7 billion roubles, but gave no details about purchases planned for 2010.
Diamond producers across the globe have been badly hit by weak demand.The world's largest diamond producer,De Beers, which is 45%-owned by mining group Anglo American Plc, has said demand should pick up in the second half.
Alrosa president Fyodor Andreyev said yesterday that he expected diamond demand would recover by 2011 as long as there were no second wave to the financial crisis.
Putin also ordered officials to work out a way to give a state guarantee to Alrosa to help it restructure its debts to domestic and foreign creditors.
Diamond sales make up 30% of the local government's revenue in Yakutia,which covers an area about one-third the size of the United States.
Alrosa, which traces its history to the diamond mines set up the Soviet Union in Yakutia in the 1950s, employs 15,000 people and produces 97% of Russia's rough diamonds.
"In recent years,$17.5 billion of diamonds have been found here (in Mirny)and about $80 billion in the republic as a whole, but when you work out how much has actually been invested here in the republic, in its infrastructure, the figures are really not very significant,"Putin said."The problems come from this and have been mounting for decades."
Thursday, August 20, 2009
CITIZEN PHOTO CONTEST AWARDS
Citizen watches recently held an awards presentation to the winners of its "A Moment in Time"photo contest, with a charity auction of the winning works and photos taken by seven celebrities. The event, to raise funds for the Green World Foundation, took place at the Siam Paragon's Fashion Hall recently.
Presenting the awards to the winners are Vipavan Mahadumrongkul,general manager of C. Thong Panich Ltd, the sole distributor of Citizen watches in Thailand, and Suzuki Tadahiro, managing director of Citizen Singapore. Also present at the event is MR Narisa Chakrabongse,chairperson of the Green World Foundation.
"More than 700 photos by professional and amateur photographers were submitted to the contest," said Mrs Vipavan."Forty finalists have been chosen to display their works along with photos taken by seven celebrities. They are all being auctioned with the proceeds going to the Green World Foundation."
In the adult category, the winner is Yaowalak Pipattangkul with "One Life One Change". The first and second runners-up are Methaporn Pirojrat with "I Love You Just the Way You Are" and Pichaporn Prukrasameepong with "The Golden Land'.' All were awarded a Citizen Eco-Drive watch and cash prizes.Surasak Jiamsap was presented with a special prize, a Citizen Eco-Drive,for the theme,"The First Moment of Daylight".
In the youth category, Jitpitak Sae Dan won the first prize with "Saeng Lod". The first and second runnersup are Danai Wongwattanachai with "Soo Chai Chana" and Methas Srithanya with "Kanghan Dek Len". All received Citizen Eco-Drive watches and cash prizes. The special prize for the theme "The First Moment of Daylight" went to Korakot Wichaidit with "Chao Wan Mai" and was awarded with a special model of Citizen EcoDrive.
The event also showcased the latest collection of Citizen Eco-Drive ti-mepieces from Basel Fair 2009 including the Promaster BJ2110-01E and Promaster BJ2120-07E, diving watches with water resistance to 200 metres, with a depth meter and chronograph.
Also presented were the Perpetual Calendar BL5395-00E, the Perpetual Calendar BL5390-03A, the Super Chronograph JW0071-58E, and the Wicca 10th Anniversary FB1173-01D,a limited edition watch with a star engraved crystal decoration and 150-day power reserve. Only 100 pieces are available in Thailand.
Equipped with advanced Eco-Drive technology, the Eco-Drive watch is able to convert light from any source,solar or artificial, into electrical energy,with the help of the solar cell beneath its dial. The solar panel is free from harmful elements such as mercury,zinc and cadmium, and with regular exposure to light, will preserve the light in a special secondary battery or energy cell, which can be recharged without change during its 20-year lifespan.
Unlike quartz watches, the EcoDrive watch can conserve its energy for a long period of time once its revolutionary battery is fully charged.All models are equipped with more effective light-powered functions, and every watch has a trademark, EcoDrive on its dial and back case.
Presenting the awards to the winners are Vipavan Mahadumrongkul,general manager of C. Thong Panich Ltd, the sole distributor of Citizen watches in Thailand, and Suzuki Tadahiro, managing director of Citizen Singapore. Also present at the event is MR Narisa Chakrabongse,chairperson of the Green World Foundation.
"More than 700 photos by professional and amateur photographers were submitted to the contest," said Mrs Vipavan."Forty finalists have been chosen to display their works along with photos taken by seven celebrities. They are all being auctioned with the proceeds going to the Green World Foundation."
In the adult category, the winner is Yaowalak Pipattangkul with "One Life One Change". The first and second runners-up are Methaporn Pirojrat with "I Love You Just the Way You Are" and Pichaporn Prukrasameepong with "The Golden Land'.' All were awarded a Citizen Eco-Drive watch and cash prizes.Surasak Jiamsap was presented with a special prize, a Citizen Eco-Drive,for the theme,"The First Moment of Daylight".
In the youth category, Jitpitak Sae Dan won the first prize with "Saeng Lod". The first and second runnersup are Danai Wongwattanachai with "Soo Chai Chana" and Methas Srithanya with "Kanghan Dek Len". All received Citizen Eco-Drive watches and cash prizes. The special prize for the theme "The First Moment of Daylight" went to Korakot Wichaidit with "Chao Wan Mai" and was awarded with a special model of Citizen EcoDrive.
The event also showcased the latest collection of Citizen Eco-Drive ti-mepieces from Basel Fair 2009 including the Promaster BJ2110-01E and Promaster BJ2120-07E, diving watches with water resistance to 200 metres, with a depth meter and chronograph.
Also presented were the Perpetual Calendar BL5395-00E, the Perpetual Calendar BL5390-03A, the Super Chronograph JW0071-58E, and the Wicca 10th Anniversary FB1173-01D,a limited edition watch with a star engraved crystal decoration and 150-day power reserve. Only 100 pieces are available in Thailand.
Equipped with advanced Eco-Drive technology, the Eco-Drive watch is able to convert light from any source,solar or artificial, into electrical energy,with the help of the solar cell beneath its dial. The solar panel is free from harmful elements such as mercury,zinc and cadmium, and with regular exposure to light, will preserve the light in a special secondary battery or energy cell, which can be recharged without change during its 20-year lifespan.
Unlike quartz watches, the EcoDrive watch can conserve its energy for a long period of time once its revolutionary battery is fully charged.All models are equipped with more effective light-powered functions, and every watch has a trademark, EcoDrive on its dial and back case.
TIME ON THE MOVE
The red carpet will be rolled out once again to welcome some of the world's most prestigious watch brands when they parade their latest collections to showcase at this year's Central International Watch Fair (CIWF)2009, Southeast Asia's biggest retail event for watch-lovers and collectors. This must see event will be held at the Event Hall of Central Chidlom from August 25 to September 27.
"As the region's leading watch fair organiser, Central has selected new collections and top-brand timepieces including limited edition designs premiered earlier this year at BaselWorld 2009 expo in Switzerland to showcase at this year's Central International Watch Fair," said Yuwadee Chirathivat, president of Central Department Store."We also team up with leading credit cards to offer the best deals to customers through special campaigns and other promotions."
Gracing this year's CIWF are some of the most celebrated names in watchmaking, including A. Lange & Sohne,Audemars Piguet, Blancpain, Breguet,Carl F. Bucherer, Cartier, Chopard,Corum, Franck Muller, Glashutte Original, IWC, Jager-LeCoultre, Montblanc,Parmigiani Fleurier, Piaget, Ulysse Nardin, Vacheron Constantin and Vincent Berard.
One of this year's hottest trends from the watch world is the white-strap watch.Many of the world's luxury watch brands have launched white-strap designs for ladies, but this new trend isn't reserved for them alone. Fashion-forward gentlemen can also update their look with oversized, white-strap watches, versatile accessories that go with a variety of clothing styles.
"Fashion is forever changing, and a constant flow of new trends adds colour,fun and liveliness to the business of dressing up," said Tinakorn Asavarak, a veteran of the fashion scene and one of the most stylish men around.
"Watch fashion, too, is always on the move, in terms of the technology behind the working parts and the design and materials that inspire new collections,which introduce new trends to the fash-ion world. Accessory trends are dictated by couture fashion, and in turn both clothes and accessories trends influence watch fashion."
According to Tinakorn, colour is very important this year, especially white,the symbol of purity and elegance.
"White is the coolest colour this summer and white-strap watches go well with colourful clothes," he says."They look great when mixed with white gold,rose gold or yellow gold. The straps themselves are available in a variety in materials, from classic leather to bleached crocodile to white ceramic or plastic, all of which look very cool and trendy."
Leading watch brands unveiling stylish designs for ladies at Central International Watch Fair 2009, include:
Cartier Baignoire Hypnose, a highjewellery design with two oval faces,one inside the other, mounted on an 18k gold case and surrounded with diamonds. The classic design is enhanced by Roman numerals and white canvas strap with 18k white gold clasp. A quartz timepiece set with 4.15 carats diamonds,it is priced at 2,010,000 baht.
Vacheron Constantin presents Kalla Lune in round white-gold case set with 134,36mm baguette diamonds weighing 7.86 carats. A single rose-cut diamond adorns the crown while the flange glitters with 24 baguette diamonds each weighing 1.36 carats. The dial is paved with mother-of-pearl mosaic, with the pieces intricately put together in a concentric semi-circle pattern then polished until they become one piece, and set with 141 rose-cut diamonds at 9 o'clock. The price is 8,033,000 baht.
Corum highlights its 2009 collection with the sculpture-like Golden Bridge Lady, only five of which were produced worldwide and only one imported to Thailand. It features a see-through,41mm x 34 mm dial made of red or white gold set with 76 baguette diamonds, and black or white crocodile leather strap with red or white gold tongue buckle. The price is 7,175,000 baht for white gold and 7,093,000 baht for rose gold.
Paula Taylor with the trendy whitestrap Corum watch. The Little Lange 1 Moon Phase: Moonstruck from A. Lange & Sohne is available in a daytime and a nighttime version, and only 150 of each were produced. The daytime version features a 36.8mm white gold case, silvery white mother-of-pearl dial set with 58 Wesselton diamonds, and white crocodile strap. The nighttime version has a blue mother-of-pearl dial and matching blue shagreen strap. The price is 1,950,000 baht.
The embodiment of gentle femininity,Blancpain Ultra-Slim has a 26.2mm diameter ruby and diamond encrusted mother-of-pearl dial mounted on a gold case set with double rows of diamonds on the bezel and crown. An automatic self-winding timepiece, it comes with 100-hour power reserve.
Central International Watch Fair 2009, August 25-September 27 at the Event Hall,3rd floor,Central Chidlom, tel 02-793-7420.
"As the region's leading watch fair organiser, Central has selected new collections and top-brand timepieces including limited edition designs premiered earlier this year at BaselWorld 2009 expo in Switzerland to showcase at this year's Central International Watch Fair," said Yuwadee Chirathivat, president of Central Department Store."We also team up with leading credit cards to offer the best deals to customers through special campaigns and other promotions."
Gracing this year's CIWF are some of the most celebrated names in watchmaking, including A. Lange & Sohne,Audemars Piguet, Blancpain, Breguet,Carl F. Bucherer, Cartier, Chopard,Corum, Franck Muller, Glashutte Original, IWC, Jager-LeCoultre, Montblanc,Parmigiani Fleurier, Piaget, Ulysse Nardin, Vacheron Constantin and Vincent Berard.
One of this year's hottest trends from the watch world is the white-strap watch.Many of the world's luxury watch brands have launched white-strap designs for ladies, but this new trend isn't reserved for them alone. Fashion-forward gentlemen can also update their look with oversized, white-strap watches, versatile accessories that go with a variety of clothing styles.
"Fashion is forever changing, and a constant flow of new trends adds colour,fun and liveliness to the business of dressing up," said Tinakorn Asavarak, a veteran of the fashion scene and one of the most stylish men around.
"Watch fashion, too, is always on the move, in terms of the technology behind the working parts and the design and materials that inspire new collections,which introduce new trends to the fash-ion world. Accessory trends are dictated by couture fashion, and in turn both clothes and accessories trends influence watch fashion."
According to Tinakorn, colour is very important this year, especially white,the symbol of purity and elegance.
"White is the coolest colour this summer and white-strap watches go well with colourful clothes," he says."They look great when mixed with white gold,rose gold or yellow gold. The straps themselves are available in a variety in materials, from classic leather to bleached crocodile to white ceramic or plastic, all of which look very cool and trendy."
Leading watch brands unveiling stylish designs for ladies at Central International Watch Fair 2009, include:
Cartier Baignoire Hypnose, a highjewellery design with two oval faces,one inside the other, mounted on an 18k gold case and surrounded with diamonds. The classic design is enhanced by Roman numerals and white canvas strap with 18k white gold clasp. A quartz timepiece set with 4.15 carats diamonds,it is priced at 2,010,000 baht.
Vacheron Constantin presents Kalla Lune in round white-gold case set with 134,36mm baguette diamonds weighing 7.86 carats. A single rose-cut diamond adorns the crown while the flange glitters with 24 baguette diamonds each weighing 1.36 carats. The dial is paved with mother-of-pearl mosaic, with the pieces intricately put together in a concentric semi-circle pattern then polished until they become one piece, and set with 141 rose-cut diamonds at 9 o'clock. The price is 8,033,000 baht.
Corum highlights its 2009 collection with the sculpture-like Golden Bridge Lady, only five of which were produced worldwide and only one imported to Thailand. It features a see-through,41mm x 34 mm dial made of red or white gold set with 76 baguette diamonds, and black or white crocodile leather strap with red or white gold tongue buckle. The price is 7,175,000 baht for white gold and 7,093,000 baht for rose gold.
Paula Taylor with the trendy whitestrap Corum watch. The Little Lange 1 Moon Phase: Moonstruck from A. Lange & Sohne is available in a daytime and a nighttime version, and only 150 of each were produced. The daytime version features a 36.8mm white gold case, silvery white mother-of-pearl dial set with 58 Wesselton diamonds, and white crocodile strap. The nighttime version has a blue mother-of-pearl dial and matching blue shagreen strap. The price is 1,950,000 baht.
The embodiment of gentle femininity,Blancpain Ultra-Slim has a 26.2mm diameter ruby and diamond encrusted mother-of-pearl dial mounted on a gold case set with double rows of diamonds on the bezel and crown. An automatic self-winding timepiece, it comes with 100-hour power reserve.
Central International Watch Fair 2009, August 25-September 27 at the Event Hall,3rd floor,Central Chidlom, tel 02-793-7420.
Wednesday, August 19, 2009
Patek Philippe sees slightly higher sales
Patek Philippe,one of the last major independent Swiss watchmakers, expects sales to rise in 2009 as the super-rich shrug off the worst economic crisis in decades and splash out on top-end watches.
The group, whose watches have fetched record-breaking prices at auctions, said unit sales had fallen around 10% by the end of July, but turnover had risen overall as the value of the watches it was producing was higher.
"The models costing between $10,000 and $20,000 have been hit hardest, while the high-end complicated models are holding up. People want to buy real,lasting value," chairman Philippe Stern told Reuters."Overall,2009 should be slightly higher than 2008."
Switzerland's watch industry is grappling with its sharpest decline in demand in some 20 years as consumers tighten the purse-strings due to worries about job losses and a severe drop in the value of investment portfolios.
But there are growing signs that the worst may be over for the sector and Kepler Capital Markets analyst Jon Cox expects July Swiss watch exports, due today, to be down 15-20%, recovering from the 32% drop seen in June.
Last week, Swatch Group, the world's largest watchmaker, gave an upbeat out-look for the rest of the year as retailers start to order stocks again, boosting shares across the sector.
"Patek Philippe is another watchmaker which is indicating things are improving.This is positive for the watch industry and it looks like things are rebounding.The United States is still very weak, but things in Asia are very encouraging,"Cox said.
Many retailers stopped ordering new products to run down stock built up during the boom years, while some struggled to get the necessary credit to buy goods after markets tightened.
Patek Philippe, which created its first wristwatch in 1868, said the appetite for its watches had held up well in Europe,excluding Spain, and also in Asia, excluding Japan, but demand was down some 50% in America.
Around 45% of the classical watchmakers sales come from Europe,20%from America, while Asia could contribute up to 35% of sales this year as the appetite for its timepieces there increases.
"Quality is very important. People know real value and want concrete quality. The retailer doesn't want to sell something that will be brought back in a week or so," vice-chairman Thierry Stern said in the interview.
"People are ready to invest in something that is holding in terms of reliability as well as in terms of value," he said.
Prices for the group's watches start at $10,000 and can sell for over $1 million.
The Stern family, which bought Patek Philippe in 1932, has been running the company for three generations and Philippe Stern, who turns 71 later this year,will hand the reins over to his 39-yearold son Thierry by the end of the year.
Patek Philippe, which competes with brands such as Richemont's Vacheron Constantin and Swatch Group's Breguet,has not cut any jobs or introduced shorttime work, but it has cut production by 4,000 pieces this year.
The group normally produces around 40,000 timepieces each year at its workshops in Plan-les-Ouates, outside Geneva, and its most complicated watches, such as its minute repeaters,are checked by the chairman before reaching the customer.
The group, whose watches have fetched record-breaking prices at auctions, said unit sales had fallen around 10% by the end of July, but turnover had risen overall as the value of the watches it was producing was higher.
"The models costing between $10,000 and $20,000 have been hit hardest, while the high-end complicated models are holding up. People want to buy real,lasting value," chairman Philippe Stern told Reuters."Overall,2009 should be slightly higher than 2008."
Switzerland's watch industry is grappling with its sharpest decline in demand in some 20 years as consumers tighten the purse-strings due to worries about job losses and a severe drop in the value of investment portfolios.
But there are growing signs that the worst may be over for the sector and Kepler Capital Markets analyst Jon Cox expects July Swiss watch exports, due today, to be down 15-20%, recovering from the 32% drop seen in June.
Last week, Swatch Group, the world's largest watchmaker, gave an upbeat out-look for the rest of the year as retailers start to order stocks again, boosting shares across the sector.
"Patek Philippe is another watchmaker which is indicating things are improving.This is positive for the watch industry and it looks like things are rebounding.The United States is still very weak, but things in Asia are very encouraging,"Cox said.
Many retailers stopped ordering new products to run down stock built up during the boom years, while some struggled to get the necessary credit to buy goods after markets tightened.
Patek Philippe, which created its first wristwatch in 1868, said the appetite for its watches had held up well in Europe,excluding Spain, and also in Asia, excluding Japan, but demand was down some 50% in America.
Around 45% of the classical watchmakers sales come from Europe,20%from America, while Asia could contribute up to 35% of sales this year as the appetite for its timepieces there increases.
"Quality is very important. People know real value and want concrete quality. The retailer doesn't want to sell something that will be brought back in a week or so," vice-chairman Thierry Stern said in the interview.
"People are ready to invest in something that is holding in terms of reliability as well as in terms of value," he said.
Prices for the group's watches start at $10,000 and can sell for over $1 million.
The Stern family, which bought Patek Philippe in 1932, has been running the company for three generations and Philippe Stern, who turns 71 later this year,will hand the reins over to his 39-yearold son Thierry by the end of the year.
Patek Philippe, which competes with brands such as Richemont's Vacheron Constantin and Swatch Group's Breguet,has not cut any jobs or introduced shorttime work, but it has cut production by 4,000 pieces this year.
The group normally produces around 40,000 timepieces each year at its workshops in Plan-les-Ouates, outside Geneva, and its most complicated watches, such as its minute repeaters,are checked by the chairman before reaching the customer.
Pranda profit flat despite revenue drop
The listed jewellery manufacturer Pranda Jewelry Plc is confident its profit this year will remain on par with 2008 despite an expected 15% drop in revenue, says the company president.
The firm's total revenue is expected to decline by 15% year-on-year to 3.42 billion baht this year, while net profit would be about 144 million baht, said Prapee Sorakraikitikul.
"Focusing on silver products will help us as they can produce higher margins and sales volumes. Above of all, we have seriously controlled credit orders and inventory. This will help us keep up profits this year," she said.
Gold prices have been highly volatile this year, increasing Pranda's risk from working with the metal when compared to using the more stable silver. The firm's gold/silver ratio in terms of value currently stands at 20:80, compared to 40:60 last year, she said.
However, gold orders may increase next year when the economy improves as customers will have more money,she said.
Pranda's project revenue will start picking up in the second half as it has received new orders for the third quarter.Revenue will rise by at least 10% over the first half, she said.
In the first six months, the company reported a net profit of 81 million baht on revenue of 1.59 billion baht, compared with a net profit of 203 million baht on revenue of 2.1 billion baht in the same period last year. Secondquarter net profit was 44 million baht on revenue of 808 million baht, compared with a net profit of 135 million baht on revenue of 1.14 billion in the same period a year earlier.
The company plans to open at least 10 outlets in China next year, bringing the total to 20. It will also focus on the the Indian wholesale market, said Sunanta Tiasuwan, corporate finance chairman at Pranda.
The newly approved waiver of 7%value-added-tax on coloured stones will improve Pranda's opportunity to add value to its products and reduce costs by up to 3%, said Ms Sunanta.
If the baht remains stable at about 35-36 baht against the greenback, it will help Pranda to better manage its risk, she said.
Pranda shares closed yesterday on the Stock Exchange of Thailand at 4.30 baht, up 4 satang, in trade worth 509,000 baht.
The firm's total revenue is expected to decline by 15% year-on-year to 3.42 billion baht this year, while net profit would be about 144 million baht, said Prapee Sorakraikitikul.
"Focusing on silver products will help us as they can produce higher margins and sales volumes. Above of all, we have seriously controlled credit orders and inventory. This will help us keep up profits this year," she said.
Gold prices have been highly volatile this year, increasing Pranda's risk from working with the metal when compared to using the more stable silver. The firm's gold/silver ratio in terms of value currently stands at 20:80, compared to 40:60 last year, she said.
However, gold orders may increase next year when the economy improves as customers will have more money,she said.
Pranda's project revenue will start picking up in the second half as it has received new orders for the third quarter.Revenue will rise by at least 10% over the first half, she said.
In the first six months, the company reported a net profit of 81 million baht on revenue of 1.59 billion baht, compared with a net profit of 203 million baht on revenue of 2.1 billion baht in the same period last year. Secondquarter net profit was 44 million baht on revenue of 808 million baht, compared with a net profit of 135 million baht on revenue of 1.14 billion in the same period a year earlier.
The company plans to open at least 10 outlets in China next year, bringing the total to 20. It will also focus on the the Indian wholesale market, said Sunanta Tiasuwan, corporate finance chairman at Pranda.
The newly approved waiver of 7%value-added-tax on coloured stones will improve Pranda's opportunity to add value to its products and reduce costs by up to 3%, said Ms Sunanta.
If the baht remains stable at about 35-36 baht against the greenback, it will help Pranda to better manage its risk, she said.
Pranda shares closed yesterday on the Stock Exchange of Thailand at 4.30 baht, up 4 satang, in trade worth 509,000 baht.
Time learns to fly
More than just devices for telling the time, the wall clock at KP Square are now among the Suan Lum Night Bazzar's most sought-after decor items. Shoppers and snapping up the innovative tickers to add a clever toch to their homes.
Italiam architect Francesco Cappucio and local art lover Kwanchai Kraivitavatana came up with the design, a follow-up to the quirky clocks they made for the 2005 Bagnkok gift and houseware fairs. For their brand they chose the name Hora-Italian for "hour"
The originals became best-sellers at Loft in Siam Discovery and at Lamptitude Light Plus, and Kwanchai found time moving quickly. Just a year earlier he'd completed a course with top Italian designer Cappuccio.
After his triumph at the houseware fairs he opened the store at the Night Bazaar.
Its white and orange walls are lined with arty clocks in shades of black and white, with 60 different forms to choose from and materials ranging from metal and acrylic to wood, as well as mechanical
systems imported from Taiwan.
There are, table clocks, calendars, CD holders and photo frames too, and if you have something special in mind, KP Square accepts custom orders.
The clock designs are simkple, with the bubbly charm of 1960s fashion, but this year they've become even more colourful and playful. The inspirations are coming from the art of the designs incorporating hearts and animals and even the map of Thailand.
The Tourism Authority should take note, because some of these timepieces are exported to Europe,
America, around Asia and even to Iran.
>> TAKE A MIRO MINUTE
- KP Square is on Soi 6 in the Suan Lum Night Brazaar's Lopburi zone. It's open daily from 8 toi 11.30pm. Call (02) 216 2246 or (084) 162 6294 or visit www.KPSuare.com.
Italiam architect Francesco Cappucio and local art lover Kwanchai Kraivitavatana came up with the design, a follow-up to the quirky clocks they made for the 2005 Bagnkok gift and houseware fairs. For their brand they chose the name Hora-Italian for "hour"
The originals became best-sellers at Loft in Siam Discovery and at Lamptitude Light Plus, and Kwanchai found time moving quickly. Just a year earlier he'd completed a course with top Italian designer Cappuccio.
After his triumph at the houseware fairs he opened the store at the Night Bazaar.
Its white and orange walls are lined with arty clocks in shades of black and white, with 60 different forms to choose from and materials ranging from metal and acrylic to wood, as well as mechanical
systems imported from Taiwan.
There are, table clocks, calendars, CD holders and photo frames too, and if you have something special in mind, KP Square accepts custom orders.
The clock designs are simkple, with the bubbly charm of 1960s fashion, but this year they've become even more colourful and playful. The inspirations are coming from the art of the designs incorporating hearts and animals and even the map of Thailand.
The Tourism Authority should take note, because some of these timepieces are exported to Europe,
America, around Asia and even to Iran.
>> TAKE A MIRO MINUTE
- KP Square is on Soi 6 in the Suan Lum Night Brazaar's Lopburi zone. It's open daily from 8 toi 11.30pm. Call (02) 216 2246 or (084) 162 6294 or visit www.KPSuare.com.
THEY STOLE JEWELS WORTH B2.25 BILLION, BUT WHAT CAN THEY DO WITH THEIR HAUL?
Experts believe the thieves who committed the UK's biggest gem heist are more than likely to try to sell their stash of diamond-encrusteditems on the black market in the Middle East or Asia By Mark Hughes
As the two men stepped out of their black cab and buzzed to be let into Graff Diamonds'exclusive New Bond Street store, the staff inside could have had no idea what was about to happen. The men, however, had everything planned.
Dressed in smart suits, they were aware they had to look the part to get inside. Once through the two doors and the security guard,they had planned which items they were there for. And, crucially, they knew exactly what they were going to do with their haul.
This last detail will be the most troubling for the Metropolitan Police's Flying Squad attempting to piece together a jigsaw of information they hope will tell them more about the men who managed to pull off the UK's biggest jewel theft in a busy London street in broad daylight.
A haul of ฃ40 million (2.25 billion baht)worth of diamond-encrusted jewellery and watches cannot be inconspicuously sold on.The thieves must have had a market for their goods in mind. It is also, according to those in the know, unlikely that the gang would attempt to sell the goods in Britain, due to the amount of publicity the case has already garnered.
Roy Ramm, a former Flying Squad Commander at Scotland Yard, explained:"The police will be asking themselves why these guys had the brass neck to go into a shop they knew would have CCTV,'open faced' as it were.
"Obviously they wouldn't have got inside wearing masks, but police will study the CCTV footage to see if any prosthetics or disguises were used. If not then they will ask why. The answer is probably that the men didn't care if they were caught on camera because they knew they were not going to be in the UK [afterwards]."
Police announced that they had arrested a 50-year-old man in connection with the robbery at an address in Ilford, east London, last Monday and that he had been bailed the day after. Police sources say he is a "minor player"and was not involved in the robbery itself but detectives think he was involved in the planning. They have reiterated their desire to speak to the two men caught on CCTV.
Later in the week, police confirmed the pair wore latex disguises to carry out their raid, after a make-up artist from Covent Garden said he had unwittingly produced disguises for the men only hours before they raided the shop.
The 29-year-old freelance artist, who is now under police protection, was asked to make the pair look older and darken their hair and skin tone, apparently for a music video.
Mr Ramm said that the likelihood was that the men had already fled abroad, despite the fact that a warning was issued to all ports telling staff to be on the look-out. He said:"Selling stuff like this in Britain is very difficult because people know the items are stolen and I'd imagine Graff's insurers will put out a huge reward so the criminal fraternity here will be interested in that. Trying to sell here is too risky because the heat is on. It is probable that they have melted the jewellery down for the diamonds and taken them abroad." One valuer said this would reduce their value to ฃ4 million.
Mr Ramm added:"You then have to ask yourself where in the world people buy and wear huge gems. The answer is the Middle East or the Far East. That is the type of market they'll be looking at. Put it this way - these gems are not sitting under someone's pillow in Chigwell [a town in Essex]."
The raid, on Aug 6, is easily the biggest jewel heist in the UK. And it marks a trio of raids on Graff stores in London. The previous biggest was also at the New Bond Street shop in 2003, when ฃ23 million worth of jewellery was stolen. That robbery was carried out by members of the Pink Panther Gang, an eastern European criminal cartel accused of some of the world's biggest robberies.
Members of that gang are believed to be responsible for another attack at Graff in Sloane Street in 2007, although no one has ever been caught for that raid. It is believed that police in the current investigation have not ruled out the possibility that the same gang has struck again, but think it is unlikely due to the fact that the suspected culprits in the latest raid had London accents.
The suspects in the latest raid arrived by black cab. Police initially appealed for the driver to come forward and the man has since done so. He is not being treated as a suspect but has been interviewed as a witness.
Once inside they threatened staff with handguns, forcing one woman to open a glass cabinet from which they then stole 43 items,containing 1,500 gems, in only two minutes.They escaped by taking a member of staff hostage and then using four vehicles in an elaborate getaway during which they fired two gunshots to warn off members of the public. Police believe at least four men were involved in the robbery on the day and are studying CCTV footage from Graff and other shops and businesses in the street and along the escape route to identify other members of the gang. Certainly at least one member of the gang will have been in the shop previously,conducting a reconnaissance mission. Late last week, mobile phone footage emerged that showed the moment the two men escaped with their haul.
The video was taken by a man on New Bond Street at the time the robbery happened.Officers have recovered two of the getaway vehicles, a blue BMW and a motorbike whose driver was seen to receive a package from the men in the BMW, and will be checking for forensic evidence and to see if the vehicles are registered to addresses.
Mr Ramm added:"The officers will have been looking for any DNA evidence the men might have left behind. They took a woman hostage so her clothing will have been examined as will any other member of staff's clothing that they touched.
"It is going to be a very tough case to solve because it has clearly been very well planned,but in saying that I am wary of giving the robbers too much praise. A heist might sound glamourous and sophisticated, but these men are anything but."
The great diamond heists
2001 ฃ4 million
In May, thieves stole ฃ4 million worth of Cartier jewellery from a warehouse at Southend airport.About 2,000 items were taken,mainly watches worth between ฃ3,000 and ฃ12,000 each. Despite a ฃ75,000 reward it was not until May,2008, that arrests were made.Four men were arrested. Three will stand trial in October.
2007 ฃ10 million
Two men arrived in a chauffeurdriven Bentley at the Sloane Street branch of Graff, pretending to be wealthy diamond buyers before drawing silver handguns and demanding that staff hand ฃ10 million worth of jewellery. The store put up a ฃ500,000 reward for information leading to a conviction but this failed to yield any arrests.
2000 ฃ350 million
In 2000 the 'Great Dome' robbery, was foiled.The heist would have been the world's biggest diamond robbery, had it succeeded. A gang used a JCB digger to smash through the perimeter fence of the Millennium Dome to reach the De Beers diamonds, worth an estimated ฃ350 million. The gang members,from London and Kent, were aiming for the 203 carat Millennium Star - one of the world's most valuable cut stones - and 11 other 'priceless' blue diamonds. But the jewels had been replaced with replicas by police and undercover officers pounced on the gang. Five men were sentenced on robbery charges.
As the two men stepped out of their black cab and buzzed to be let into Graff Diamonds'exclusive New Bond Street store, the staff inside could have had no idea what was about to happen. The men, however, had everything planned.
Dressed in smart suits, they were aware they had to look the part to get inside. Once through the two doors and the security guard,they had planned which items they were there for. And, crucially, they knew exactly what they were going to do with their haul.
This last detail will be the most troubling for the Metropolitan Police's Flying Squad attempting to piece together a jigsaw of information they hope will tell them more about the men who managed to pull off the UK's biggest jewel theft in a busy London street in broad daylight.
A haul of ฃ40 million (2.25 billion baht)worth of diamond-encrusted jewellery and watches cannot be inconspicuously sold on.The thieves must have had a market for their goods in mind. It is also, according to those in the know, unlikely that the gang would attempt to sell the goods in Britain, due to the amount of publicity the case has already garnered.
Roy Ramm, a former Flying Squad Commander at Scotland Yard, explained:"The police will be asking themselves why these guys had the brass neck to go into a shop they knew would have CCTV,'open faced' as it were.
"Obviously they wouldn't have got inside wearing masks, but police will study the CCTV footage to see if any prosthetics or disguises were used. If not then they will ask why. The answer is probably that the men didn't care if they were caught on camera because they knew they were not going to be in the UK [afterwards]."
Police announced that they had arrested a 50-year-old man in connection with the robbery at an address in Ilford, east London, last Monday and that he had been bailed the day after. Police sources say he is a "minor player"and was not involved in the robbery itself but detectives think he was involved in the planning. They have reiterated their desire to speak to the two men caught on CCTV.
Later in the week, police confirmed the pair wore latex disguises to carry out their raid, after a make-up artist from Covent Garden said he had unwittingly produced disguises for the men only hours before they raided the shop.
The 29-year-old freelance artist, who is now under police protection, was asked to make the pair look older and darken their hair and skin tone, apparently for a music video.
Mr Ramm said that the likelihood was that the men had already fled abroad, despite the fact that a warning was issued to all ports telling staff to be on the look-out. He said:"Selling stuff like this in Britain is very difficult because people know the items are stolen and I'd imagine Graff's insurers will put out a huge reward so the criminal fraternity here will be interested in that. Trying to sell here is too risky because the heat is on. It is probable that they have melted the jewellery down for the diamonds and taken them abroad." One valuer said this would reduce their value to ฃ4 million.
Mr Ramm added:"You then have to ask yourself where in the world people buy and wear huge gems. The answer is the Middle East or the Far East. That is the type of market they'll be looking at. Put it this way - these gems are not sitting under someone's pillow in Chigwell [a town in Essex]."
The raid, on Aug 6, is easily the biggest jewel heist in the UK. And it marks a trio of raids on Graff stores in London. The previous biggest was also at the New Bond Street shop in 2003, when ฃ23 million worth of jewellery was stolen. That robbery was carried out by members of the Pink Panther Gang, an eastern European criminal cartel accused of some of the world's biggest robberies.
Members of that gang are believed to be responsible for another attack at Graff in Sloane Street in 2007, although no one has ever been caught for that raid. It is believed that police in the current investigation have not ruled out the possibility that the same gang has struck again, but think it is unlikely due to the fact that the suspected culprits in the latest raid had London accents.
The suspects in the latest raid arrived by black cab. Police initially appealed for the driver to come forward and the man has since done so. He is not being treated as a suspect but has been interviewed as a witness.
Once inside they threatened staff with handguns, forcing one woman to open a glass cabinet from which they then stole 43 items,containing 1,500 gems, in only two minutes.They escaped by taking a member of staff hostage and then using four vehicles in an elaborate getaway during which they fired two gunshots to warn off members of the public. Police believe at least four men were involved in the robbery on the day and are studying CCTV footage from Graff and other shops and businesses in the street and along the escape route to identify other members of the gang. Certainly at least one member of the gang will have been in the shop previously,conducting a reconnaissance mission. Late last week, mobile phone footage emerged that showed the moment the two men escaped with their haul.
The video was taken by a man on New Bond Street at the time the robbery happened.Officers have recovered two of the getaway vehicles, a blue BMW and a motorbike whose driver was seen to receive a package from the men in the BMW, and will be checking for forensic evidence and to see if the vehicles are registered to addresses.
Mr Ramm added:"The officers will have been looking for any DNA evidence the men might have left behind. They took a woman hostage so her clothing will have been examined as will any other member of staff's clothing that they touched.
"It is going to be a very tough case to solve because it has clearly been very well planned,but in saying that I am wary of giving the robbers too much praise. A heist might sound glamourous and sophisticated, but these men are anything but."
The great diamond heists
2001 ฃ4 million
In May, thieves stole ฃ4 million worth of Cartier jewellery from a warehouse at Southend airport.About 2,000 items were taken,mainly watches worth between ฃ3,000 and ฃ12,000 each. Despite a ฃ75,000 reward it was not until May,2008, that arrests were made.Four men were arrested. Three will stand trial in October.
2007 ฃ10 million
Two men arrived in a chauffeurdriven Bentley at the Sloane Street branch of Graff, pretending to be wealthy diamond buyers before drawing silver handguns and demanding that staff hand ฃ10 million worth of jewellery. The store put up a ฃ500,000 reward for information leading to a conviction but this failed to yield any arrests.
2000 ฃ350 million
In 2000 the 'Great Dome' robbery, was foiled.The heist would have been the world's biggest diamond robbery, had it succeeded. A gang used a JCB digger to smash through the perimeter fence of the Millennium Dome to reach the De Beers diamonds, worth an estimated ฃ350 million. The gang members,from London and Kent, were aiming for the 203 carat Millennium Star - one of the world's most valuable cut stones - and 11 other 'priceless' blue diamonds. But the jewels had been replaced with replicas by police and undercover officers pounced on the gang. Five men were sentenced on robbery charges.
PM rejects sanctions on Burmese gems
Thailand is continuing to oppose sanctions against Burma's gems to put more pressure on the military regime after the sentence imposed on opposition leader Aung San Suu Kyi this week.
Prime Minister Abhisit Vejjajiva said yesterday Thailand had no problem with other countries beefing up arms sanctions against Burma but banning gems would affect the Kingdom.
Thailand and China are the two main importers of gems from Burma. The US has banned imports of rubies, jade and other stones direct from Burma and through third countries.
Mr Abhisit made clear Thailand's position on gems sanctions in talks with US Secretary of State Hillary Clinton in Bangkok on July 21.
Burma faces stiffer sanctions after it confined Mrs Suu Kyi to her house for a further 18 months. A court found her guilty of violating the terms of her house arrest when US national John Yettaw swam across a lake to stay uninvited at her villa for two days in May.
The Burma issue is on the agenda at a meeting today in Manila between Mr Abhisit and Philippine President Gloria Arroyo.
British ambassador to Thailand Quinton Quayle said after talks with Mr Abhisit
that more measures would be imposed on Burma if the junta continued to ignore calls for Mrs Suu Kyi's release.
"We will consider measures shortly [to put more pressure on Burma] because the international community disagrees with this kind of verdict," Mr Quayle said after his meeting with the prime minister.
Britain now holds the presidency of the United Nations Security Council.
"I think Prime Minister Abhisit and his foreign minister, Kasit Piromya, will have to hold talks with all Asean country leaders in order to find out what next steps can be taken, apart from issuing a [Asean] statement," Mr Quayle said.As chair of the Association of Southeast Asian Nations, Thailand released a statement on Wednesday in which it expressed "deep disappointment" at the Burmese court's ruling on Tuesday and stressed Burma hold free and fair elections by including all political parties when the country goes to the polls next year.
Meanwhile, US Democrat Senator Jim Webb is due to meet Burma's chairman of the State Peace and Development Council Than Shwe later this week in the first encounter between a senior US official and the junta strongman, Mr Webb's office said yesterday.
Prime Minister Abhisit Vejjajiva said yesterday Thailand had no problem with other countries beefing up arms sanctions against Burma but banning gems would affect the Kingdom.
Thailand and China are the two main importers of gems from Burma. The US has banned imports of rubies, jade and other stones direct from Burma and through third countries.
Mr Abhisit made clear Thailand's position on gems sanctions in talks with US Secretary of State Hillary Clinton in Bangkok on July 21.
Burma faces stiffer sanctions after it confined Mrs Suu Kyi to her house for a further 18 months. A court found her guilty of violating the terms of her house arrest when US national John Yettaw swam across a lake to stay uninvited at her villa for two days in May.
The Burma issue is on the agenda at a meeting today in Manila between Mr Abhisit and Philippine President Gloria Arroyo.
British ambassador to Thailand Quinton Quayle said after talks with Mr Abhisit
that more measures would be imposed on Burma if the junta continued to ignore calls for Mrs Suu Kyi's release.
"We will consider measures shortly [to put more pressure on Burma] because the international community disagrees with this kind of verdict," Mr Quayle said after his meeting with the prime minister.
Britain now holds the presidency of the United Nations Security Council.
"I think Prime Minister Abhisit and his foreign minister, Kasit Piromya, will have to hold talks with all Asean country leaders in order to find out what next steps can be taken, apart from issuing a [Asean] statement," Mr Quayle said.As chair of the Association of Southeast Asian Nations, Thailand released a statement on Wednesday in which it expressed "deep disappointment" at the Burmese court's ruling on Tuesday and stressed Burma hold free and fair elections by including all political parties when the country goes to the polls next year.
Meanwhile, US Democrat Senator Jim Webb is due to meet Burma's chairman of the State Peace and Development Council Than Shwe later this week in the first encounter between a senior US official and the junta strongman, Mr Webb's office said yesterday.
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