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How to be a smart lender
Damon Ho
27th May 2023
Since its border reopening of Hong Kong started from February, the economic vitality has gradually been evolving to be active, and business industries such as retailing, tourism, and real-estate were the first batch which have been benefiting from  recovery. However, there are many industries are still inactive, so a lot of bosses and workers who are lack of current assets. In fact, it is usual to be asked from friends to lend money. However, how to decide whether to lend or not?
Most current borrowers are different from those in the early years. In the past, borrowers were humble when they asked for help. Nowadays, the borrowers are more aggressive, and they act like a debt collector.
One friend of mine recently encountered a comparable situation. Given day last month, the business partner of my friend asked him to lend money. My friend did not answer directly and was immediately scolded by this business partner. It appeared that business partner wanted to borrow money to buy a property.
When my friend knew his intention, he refused the request immediately. My friend said, he will lend money to someone for medical treatment. Nevertheless, he is reluctant to lend money to someone for real estate investment purpose. He stressed, if he lends money to someone to invest in property, why not he invests by himself. Most of the borrowers for medical treatment will repay their debts. By contrast, investment borrowers are highly possible that they will not pay back their loans.
In early days, most of the borrowers were moderate and would not get angry even if they were rejected. However, his recent experience has made him deeply disturbed. The poor who borrowed money from friends by using a coercive attitude, and those who refused to lend money were immediately rebuked.
My friend was unhappy because of this incident, but he did not reprimand his business partner directly. Today, money is not coming easily. If it is necessary to lend, the lender should prepare that there is a chance that he cannot get back his money. If one feels uneasy about this kind of matter, try not to lend.
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1. US homes fell in April 2023-05-27 17:47:21
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Sales of previously owned US homes fell in April, restrained by limited inventory and high mortgage rates, while the median selling price dropped by the most in 11 years. Contract closings decreased by 3.4 percent to a 4.28 million annualized pace, the slowest in three months, data from the National Association of Realtors showed. The figure was in line with the median estimate in a Bloomberg survey of economists. The median selling price fell 1.7 percent from a year earlier, to US$388,800 (HK$3.03 million). The retreat was due to decreases in the West, the most expensive region, and the South.
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2. Select those who align with their values 2023-05-27 21:42:29
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Micro-influencers have been a favorite of brands and rightfully so, given that they cost less, but receive higher engagement rates. E-commerce platform, Shopify, reported that 2023 is the year when brands tap more influencers with around 10,000 to 100,000 followers. For brands to ensure growth when working with this new generation of marketing partners, marketing experts said they need to follow five rules, beginning with choosing the right micro-influencers. In choosing who to work with, Monica Hon, deputy head of Influencer Marketing of AnyMind Group Hong Kong, said it is important for brands to select those who align with their image and values. Hon said it is also important to look at the engagement rates of the micro-influence and check if it is “stable and satisfactory.”
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3. Hong Kong is ready for the pent-up travel demands 2023-05-28 10:40:07
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Hong Kong's removal of its travel restrictions, and mainland China's reopening of its borders in January, would drive the city's strong rebound in its air traffic, says Fitch Ratings. Recent traffic data at the Hong Kong International Airport (HKIA) showed that the city's passenger volume surged to the 3.1 million mark in April, recovering 54% of its 2019 level. The statistic was 25 times the same as last year. The rating agency also said that Hong Kong is ready for the pent-up travel demands, as routes are beginning to resume gradually and traffic to revive despite economic headwinds and geopolitical tensions.
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4. Uncertainty weighs on property market 2023-05-29 09:56:28
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Residential and retail property sales in Hong Kong are showing signs of slowing down amid economic uncertainty and interest rate movements. Only three deals were recorded at 10 major housing estates over the weekend, down by 50 percent from a week ago, according to Centaline Property Agency. It was also the third consecutive weekend with single-digit transactions since the prime rate was raised earlier this month. The market sentiment has "obviously improved" compared to last month but with competitive pricing, new homes took all the attention and purchasing power away from the secondary market, said Louis Chan Wing-kit, Asia-Pacific vice-chairman of the agency's residential division.
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5. HK Grade A office demand to rise 2023-05-30 08:30:52
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Market demand for Hong Kong’s Grade A office is expected to continue through the path of improvement as new office spaces are completed, according to JLL’s latest property market report. An estimated 3.2 million square feet of new Grade A office space are scheduled for completion in 2023, said Alex Barnes, managing director at JLL Hong Kong. Whilst this will drive vacancy rates to rise, the new completions are also expected to attract tenants to relocate and upgrade their offices, Barnes said.
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6. 美國債務上限協議緩解金價平穩 2023-05-30 18:00:44
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金價變動不大，美國債務上限協議緩解投資者的擔憂，但聯儲局或進一步加息，影響黃金需求。現貨金較早時每安士報1943.35美元，跌近0.2%。
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7. Exports fell to $338.3b in April 2023-05-31 10:50:04
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The value of total exports fell to $338.3b in April 2023, down by 13% month-on-month, the Census & Statistics Department announced today. The value of imports of goods declined 11.9% to $374.9b for the same period. A trade deficit of $36.6b, or 9.8% of the value of imports, was documented in April. Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the value of exports grew 15.4%, whilst that of imports went up 10.7%.
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8. Bankers face a sluggish hiring market 2023-06-01 08:33:20
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Bankers seeking a job in Hong Kong should brace themselves for obstacles as banking on human resource investments has seen a slowdown. Hiring experts revealed to Asian Banking & Finance that there is an informal hiring freeze and some layoffs as banks focus on maximizing productivity rather than hiring new employees. “Over the last nine months, it’s definitely slowed down. And then over three months, it slowed down even further, especially in the wake of happenings in the global investment banking market,” said John Mullally, Robert Walters’ managing director for Hong Kong and South China.
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9. Rental rate in retail districts recorded growth 2023-06-02 07:40:22
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Real estate expert, Colliers, expects the annual rental rate for stores in core retail districts in Hong Kong to grow 8% YoY, given the momentum of the city’s economic recovery. In Q1, the city recorded a 2.7% YoY and 5.3% QoQ growth in its gross domestic product (GDP). Apart from store rents, Colliers also predict that hotel rates will also increase in the near future as room supply growth begins to curtail
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