This firm is determined to disrupt the traditional diamond industry.
Quality diamonds grown from machines may sound like the stuff of science fiction, but Richz Technologies is using this trailblazing method to disrupt the conventional method of producing these coveted jewels. “Richz Technologies provide the cutting-edge machinery for clients who want to disrupt the conventional methods of forging these classic gemstones. These coveted lab-grown gemstones provide a cheaper alternative without having to compromise its quality, form and aesthetic-value.” explains Kavin Ng, Managing Director of Richz Technologies. “Most importantly, it is eco-friendly and is free from any tainted misuse of child labor,” he adds.Project Sparkle, as the initiative is known, was born from heavy investments into and research and technology. “Richz stands out from the pack today as we are lucky enough to be in the frontier. Among our milestones is the fact that we are the largest vacuum pump servicing centre in SE Asia and one of the first to manufacture Lab Growth Diamond machines,” he notes. Richz Tech was a winner in Singapore Business Review’s National Business Awards 2017 in Technology.
At the forefront of change
The company is involved in two divisions of business. The group is a leader in vacuum pump servicing, and is currently at the forefront of groundbreaking diamond manufacturing industry. “Diamond Manufacturing is an emerging market which is disruptive in the current traditional diamond industry. This means the upside for this business is potentially huge. Many markets are untapped, especially in Asia,” Ng explains. As for the vacuum pump servicing, Richz began its expertise in the semiconductor industry, but has since diversified into other sectors such as the solar energy. This insulates the company from any cyclical swings, and provides the adaptability it needs to weather economic downturns. “We invested heavily in R&D, and we went through many trials and errors. We try to improve to make things more productive and to be in the frontier of technology. We want to offer an alternative to the consumers.. It is now our time to reach out to people and make known to them they have new choices,” Ng says.
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