ValueMax Group

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#71
(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?
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#72
(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/
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#73
Point blank question. At least the answer is more than those simply answering "focussed on growing the business".

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Minutes of the Annual General Meeting held on 25 April 2023
https://links.sgx.com/FileOpen/VMG-Minut...eID=759331
"11. At IPO, the share price was 45cts per shares, whilst the share price is currently at 36 cts per share, even though Profit before tax and Net Asset Value is double, the share price has not doubled. What is Management doing to increase the share price?

Management is focused on growing the businesses of the Group. A lot of companies listed on the SGX are profitable and financially strong, but somehow, there are not much movements in their share prices. The most active counters are generally companies on the Straits Times Index. "
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