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(20-08-2019, 03:09 PM)wonghw12 Wrote: (19-08-2019, 02:08 PM)lavue Wrote: There is an old report that stated the general guidelines for unsecured money lending.
The amount limits are as follows:
- Annual income < $20k: Up to $3,000
- Annual income $20k - < $30k: Up to 2 months' income
- Annual income $30k to $120k: Up to 4 months' income
They also conduct credit-worthiness checks via the Credit Bureau. Unless they have very lax lending standards, or loan out huge amounts of money in violation of unsecured money lending guidelines, it seems unlikely that there will be significant write-downs in the unsecured money lending business.
Do you happen to know if they are hit by Honestbee and will take write-downs on it? Do you also have info how they conduct unsecured money lending to corporates?
hi wonghw12,
Did a quick search and unfortunately, ValueMax is an unsecured financial creditor of HonestBee in their court filing. Honestbee owes ~2.87mil to ValueMax.
https://vulcanpost.com/671240/honestbee-...singapore/
I am not a certified financial advisor and so nothing of what I say should be construed as financial advice. Please consult a certified financial advisor for advice instead.
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26-06-2024, 05:10 PM
(This post was last modified: 26-06-2024, 05:10 PM by weijian.)
From The Edge, the IPO will be priced at P/E~19.5 or earning yield of 5%. So the cost of capital (at 5%) isn't too far away from the typical pawnbroker having to borrow 4-6% to fund their loans.
ValueMax associates launch Well Chip IPO
Well Chip was set up April 2023 as an investment holding company to own shares in ValueMax Group : T6I 0%’s Malaysian associated companies.
It is principally involved in providing pawnbroking services, and in the business of retail and trading of jewellery and gold.
About 72 per cent of the IPO proceeds or RM124.3 million have been allocated for use as cash capital for the group’s 23 existing pawnshops. Some 23.2 per cent, or RM40 million, will be used for expansion.
The remaining 4.8 per cent of gross proceeds amounting to RM8.2 million will be used for estimated listing expenses.
https://www.businesstimes.com.sg/compani...l-chip-ipo
I am not a certified financial advisor and so nothing of what I say should be construed as financial advice. Please consult a certified financial advisor for advice instead.