Temasek Starts Micro-Loan Biz In China, Why Not Spore?
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In addition to India, Temasek has now started a micro-loan business in the China city of Chengdu. Why is Temasek not starting one in Singapore to help local small businesses? http://www.eeo.com.cn/ens/ecopic/2009/05/04/136708.shtml Economic Observer 4 May 2009 Temasek Kick Off Micro-credit Business in China Market Temasek Holdings, an investment arm owned by the government of Singapore, has begun dealing with micro-credit services in Chengdu, capital of China's southwestern Sichuan province. Early this year, Fullerton Financial Holdings, a subsidiary of Temasek Holdings, set up Fullerton Credit Services Company in Chengdu to provide small loans to local merchants in a wholesale market where daily transaction volume surpassed ten million yuan. ---------------------------- Latest updates at Singapore News Alternative: 1. Goh Chok Tong Hospitalized For Chicken Pox 2. Singapore’s Good Class Bungalow transactions fall 51.3% in 2008 3. Bad debt charges may haunt Singapore banks 4. Shorter Work Months at Singapore Airlines 5. SingTel wins $500m contract with ANZ 6. Singapore restrict import of Canadian pork 7. Keppel loses rig contract 8. Singapore takes new measures to develop manpower capabilities 9. China's Commercialization of Censorship 10. Singapore's Metamorphosis Unveiled in Dubai 11. Latest videos updated: 1. PM Lee Hsien Loong's May Day Rally Speech - 4 parts 2. Tharman on how Spore is weathering the econ crisis - 2 parts
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Originally posted by Yxxxone:
In addition to India, Temasek has now started a micro-loan business in the China city of Chengdu. Why is Temasek not starting one in Singapore to help local small businesses?
http://www.eeo.com.cn/ens/ecopic/2009/05/04/136…
Economic Observer
4 May 2009Temasek Kick Off Micro-credit Business in China Market
Temasek Holdings, an investment arm owned by the government of Singapore, has begun dealing with micro-credit services in Chengdu, capital of China’s southwestern Sichuan province. Early this year, Fullerton Financial Holdings, a subsidiary of Temasek Holdings, set up Fullerton Credit Services Company in Chengdu to provide small loans to local merchants in a wholesale market where daily transaction volume surpassed ten million yuan.
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Latest updates at Singapore News Alternative:1. Goh Chok Tong Hospitalized For Chicken Pox
2. Singapore’s Good Class Bungalow transactions fall 51.3% in 2008
3. Bad debt charges may haunt Singapore banks
4. Shorter Work Months at Singapore Airlines
5. SingTel wins $500m contract with ANZ
6. Singapore restrict import of Canadian pork
7. Keppel loses rig contract
8. Singapore takes new measures to develop manpower capabilities
9. China’s Commercialization of Censorship
10. Singapore’s Metamorphosis Unveiled in Dubai
11.Latest videos updated:
1. PM Lee Hsien Loong’s May Day Rally Speech – 4 parts
2. Tharman on how Spore is weathering the econ crisis – 2 partsHere no micro loans becos have CPF. How to give out again.
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Because we have loans sharks already mah.
Some more.. the CH volume is HUGE.
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Singaporeans Pay and Pay... the cursed despot and his cronies then use it to benefit foreigners.
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Most of these micro loans will not be able to recover.
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$&*# lah..
you think citizens here need loans of $200 to start a business???
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Originally posted by Arapahoe:
Most of these micro loans will not be able to recover.
You are mistaken. Micro loans have an extremely high rate of recovery mainly because the defaulters run the risk of shame and because the borrower doesn't want to ruin his/her chance of borrowing again. -
In singapore private local enterprises cannot survive cos the idea of local private enterprise means "Govt Owned".
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Originally posted by Yxxxone:
In addition to India, Temasek has now started a micro-loan business in the China city of Chengdu. Why is Temasek not starting one in Singapore to help local small businesses?
volume surpassed ten million yuan.
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People do their business, why you bother? SME in singapore can ask the govt for help, and the govt had been helping them all along, as for Temaserk, tho GLC, it has it own prospects and visions. Now Ang mo CEO, he dun think of Singapore, Last time HO Ching better, she still think and help singaporean, but you all dun like her. -
ho ching help singaporeans lose money, yah i agree.
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ya, then everyone hated her, and so they get one Ang mo in and now, before the Ang mo can make some money back for singaporeans, they start to complain again??
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If TH could earn an average of just $1 from each chinese citizen, that would be a whopping $1 over billion dollars.
Think about it.
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Originally posted by charlize:
If TH could earn an average of just $1 from each chinese citizen, that would be a whopping $1 over billion dollars.
Think about it.
and if lost, another 1 billion to dig from the reserve, hope our Nathan prepared the ready cash check -
Originally posted by angel7030:
ya, then everyone hated her, and so they get one Ang mo in and now, before the Ang mo can make some money back for singaporeans, they start to complain again??
Tat ang moh specialise in mining Aussie land. Now come Sg mine Sg resources.
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Originally posted by Cram:
You are mistaken. Micro loans have an extremely high rate of recovery mainly because the defaulters run the risk of shame and because the borrower doesn't want to ruin his/her chance of borrowing again.
You are totally lacking the understanding of the operating culture.....most of the chinese when they borrow money there is no business sense or regards that these are to pay back in the future. They operate and they spend others money NOW. That is not because they lack the understanding but the predator nature of the enviornment.Secondly those with good credit that demonstrate the pattern of paying back loans had already gotton loans from financial institution.
You will need Ah Long to collect moneies back.
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Arapa,
Agree.
Sooo many cases of them take money run off, China so big very hard to catch.
They go there be Ah Long.... use what .. Pig head ? Them Chinese make pig head soup.
It's another one of them black hole thing...money goes in... never come back.
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Its time for Temasek to change or broaden its mission. I understand Temasek is to invest regionally to help the growth of regional economies so that inreturn it helps SG. But to go into micro loans in China to spure domestics demand is the role of PRC govt.
The resouces in SG could have continue to directly aid local SMC to go abroad. Resources and expertised that are deem too expensive for local SMC to engage or hired. SG Govt could share that cost as a means of helping local SMC advance internationally.
I would have prefer Temasek take an active approach to aid and provide micro loans investment thru the circular govt of Pakistan. The uncertainty over Pakistan should be Temasek Agenda if it is looking at regional growth.
Open eyes wider....
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Originally posted by Arapahoe:
Its time for Temasek to change or broaden its mission. I understand Temasek is to invest regionally to help the growth of regional economies so that inreturn it helps SG. But to go into micro loans in China to spure domestics demand is the role of PRC govt.
The resouces in SG could have continue to directly aid local SMC to go abroad. Resources and expertised that are deem too expensive for local SMC to engage or hired. SG Govt could share that cost as a means of helping local SMC advance internationally.
I would have prefer Temasek take an active approach to aid and provide micro loans investment thru the circular govt of Pakistan. The uncertainty over Pakistan should be Temasek Agenda if it is looking at regional growth.
Open eyes wider....
Pakistan ?? ??? What has that country gota do with Singapore ?
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pakistan?, U must be kidding me. If Temasek can lose so badly on US investment, what makes u think Pakistan is any better?
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Originally posted by Socialist:
pakistan?, U must be kidding me. If Temasek can lose so badly on US investment, what makes u think Pakistan is any better?
More like the North Korean who are now here for a "working trip". What work?
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siah...nothing surprising. Temasick will never support local industry ! They'd rather invest foolishly overseas and lost TENS of BILLIONS in the process rather than help the SMEs in sg.
Sucking money dry from the money bank built up through the decades from the hard work of our forefathers and then squander it away easily thru gambling in failed investments. This is really �里爬外 !
The US$58B that they've lost could have given the SMEs here a booster shot in such trying times.
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Originally posted by jackrussell:
siah...nothing surprising. Temasick will never support local industry ! They'd rather invest foolishly overseas and lost TENS of BILLIONS in the process rather than help the SMEs in sg.
Sucking money dry from the money bank built up through the decades from the hard work of our forefathers and then squander it away easily thru gambling in failed investments. This is really �里爬外 !
The US$58B that they've lost could have given the SMEs here a booster shot in such trying times.
Dream on. Ang moh big.
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after all this name-calling, does anyone of you guys know what the hell micro-loans are in the first place??
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Originally posted by the Bear:
after all this name-calling, does anyone of you guys know what the hell micro-loans are in the first place??
Started in Bangladesh to help the poor to start small business or farming by a businessman.
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this sg grameen bank will cui la.