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?
Reply
#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?
Reply
#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/
Reply
#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/
Reply


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