Ngurah Rai International Airport's Custom and Excise Office in Tuban, Badung, on Thursday temporarily seized 35
gurah Rai International Airport's Custom and Excise Office in Tuban, Badung, on Thursday temporarily seized 35.5 kilograms of gold bracelets to be exported to Singapore, after a discrepancy was noted in the export documents.
The gold bracelets, valued at an estimated Rp 11.9 billion (US$1.08 million), came from a gold exporting company identified only as TR.
The shipment was confiscated after officials at the office's investigation and control unit found the weight of the exported items did not match the measurements documented in the export papers.
Unit head Bagus Endro said the gold items were wrapped in two packages weighing 16.5 kilograms and 18.7 kilograms, as noted in the documents. But the actual weight was 18.7 kilograms and 19.38 kilograms.
He said all exporting company must give clear and precise information about their exported items in the documents, or risk having the customs office halt their export activities or even seize the goods.
For the discrepancies, the company was forced to pay a fine of Rp 5 million, Endro said.
The latest market data from www.logammulia.com, a reliable website for gold and jewelry market information, shows the price of gold was recorded at a high of Rp 340,000 per gram.
Speaking to reporters on Thursday, Endro said the bracelets looked like gold bars because they were so thick.
Regulations from the trade and industry ministries stipulate the export of gold bars must be accompanied with a clearance document from the ministries. But if the gold bars are worked on and designed as jewelry, then exporters are not required to obtain a clearance document.
The investigation and control officers initially suspected thick gold bracelets could be disguised gold bars.
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