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23-06-2014, 01:00 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
How many families have been destroyed in the process? FAP Traitors aka FAP Sinners!
Pawnshops cash in on business from gamblers
$5.5b loans in 2013, up from $1.6b in 2007, after opening of casinos in 2010
print (http://www.businesstimes.com.sg/print/1151666) |email (http://www.businesstimes.com.sg/printmail/1151666) this article
http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/imagecache/image_300x200/mmpawnsph2306.jpg (http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/imagecache/filenamee/mmpawnsph2306e.jpg)
[SINGAPORE] Yeah Lee Ching recalls when a lady walked into her pawnshop in Singapore and pledged a US$10,000 diamond-studded gold Rolex watch to bankroll casino spending. She never came back for her jewellery.
Pawnbrokers are proliferating across Singapore as gamblers seeking short- term loans add to demand for quick cash from people struggling to make ends meet in the world's most expensive city. The number of pawnshops in the city-state surged to 214 this year from 114 in 2008, according to a report by DMG & Partners Securities. Loans disbursed by the industry jumped to S$5.5 billion in 2013 from S$1.6 billion in 2007, government data shows.
"Pawnshops are the most-frequent automated teller machines for regular gamblers," Ivan Ho, president of Singapore Pawnbrokers' Association, said in an interview this month. "They need capital, and pawnshops offer them loans that are reasonably priced."
Since Singapore's two casinos opened in 2010, about 20 per cent of the increase in pawnbroking activity is driven by clients raising money for gambling, said Mr Ho, who's also the owner of Heng Seng Pawnshop Co. The rest comes from business owners and low-income individuals who need quick cash to pay hospital bills and other unexpected costs.
https://lh5.googleusercontent.com/-lVuS9IKNRo4/UampRq3RCXI/AAAAAAAAIXQ/OnBwTU3ce_0/s640/blogger-image--1214767149.jpg
Who did you vote for? *hee*hee*
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?184614-SGs-Borrowed-5-5B-from-Pawnshops-Up-350-From-Opening-of-Casinos-in-2010!&goto=newpost).
How many families have been destroyed in the process? FAP Traitors aka FAP Sinners!
Pawnshops cash in on business from gamblers
$5.5b loans in 2013, up from $1.6b in 2007, after opening of casinos in 2010
print (http://www.businesstimes.com.sg/print/1151666) |email (http://www.businesstimes.com.sg/printmail/1151666) this article
http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/imagecache/image_300x200/mmpawnsph2306.jpg (http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/imagecache/filenamee/mmpawnsph2306e.jpg)
[SINGAPORE] Yeah Lee Ching recalls when a lady walked into her pawnshop in Singapore and pledged a US$10,000 diamond-studded gold Rolex watch to bankroll casino spending. She never came back for her jewellery.
Pawnbrokers are proliferating across Singapore as gamblers seeking short- term loans add to demand for quick cash from people struggling to make ends meet in the world's most expensive city. The number of pawnshops in the city-state surged to 214 this year from 114 in 2008, according to a report by DMG & Partners Securities. Loans disbursed by the industry jumped to S$5.5 billion in 2013 from S$1.6 billion in 2007, government data shows.
"Pawnshops are the most-frequent automated teller machines for regular gamblers," Ivan Ho, president of Singapore Pawnbrokers' Association, said in an interview this month. "They need capital, and pawnshops offer them loans that are reasonably priced."
Since Singapore's two casinos opened in 2010, about 20 per cent of the increase in pawnbroking activity is driven by clients raising money for gambling, said Mr Ho, who's also the owner of Heng Seng Pawnshop Co. The rest comes from business owners and low-income individuals who need quick cash to pay hospital bills and other unexpected costs.
https://lh5.googleusercontent.com/-lVuS9IKNRo4/UampRq3RCXI/AAAAAAAAIXQ/OnBwTU3ce_0/s640/blogger-image--1214767149.jpg
Who did you vote for? *hee*hee*
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?184614-SGs-Borrowed-5-5B-from-Pawnshops-Up-350-From-Opening-of-Casinos-in-2010!&goto=newpost).