[h=1]PROLIFERATION OF MONEYLENDERS WITHIN HDB ESTATES[/h]
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7 Dec 2014 - 6:14pm
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As I was walking around the area near Clementi MRT station, I noticed a proliferation of licensed moneylenders there. I counted more than 10 such businesses within a 200m radius.
This is alarming but not totally unexpected, given the lucrative nature of their business.
I am sure we can see a similar pattern in other neighbourhood centres in Singapore.
The authorities, especially the Housing Board, should cap the number of such businesses in HDB estates for the benefit of residents.
Moneylenders can afford to pay premium rentals in prime locations, and they are driving away other potential businesses. The only beneficiaries are the landlords.
The HDB should ensure a good tenant mix and not have a single category of business dominating a neighbourhood.
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Moneylenders attract customers with very little disposable income to spend on other goods and services, so their presence does not complement other businesses. In this regard, they are not good for business in general.
Mall operators should take note too, as I see moneylenders also moving into prime locations in the city.
Albert Wong Kwan Wei
*Letter first appeared in ST Forum, 4 Dec.
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7 Dec 2014 - 6:14pm
<ins id="aswift_0_expand" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: inline-table; visibility: visible; position: relative; background-color: transparent; border-image: none;"><ins id="aswift_0_anchor" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: block; visibility: visible; position: relative; background-color: transparent; border-image: none;"><iframe name="aswift_0" width="336" height="280" id="aswift_0" frameBorder="0" marginWidth="0" marginHeight="0" scrolling="no" vspace="0" hspace="0" allowfullscreen="true" style="left: 0px; top: 0px; position: absolute;" allowTransparency="true"></iframe></ins></ins>
As I was walking around the area near Clementi MRT station, I noticed a proliferation of licensed moneylenders there. I counted more than 10 such businesses within a 200m radius.
This is alarming but not totally unexpected, given the lucrative nature of their business.
I am sure we can see a similar pattern in other neighbourhood centres in Singapore.
The authorities, especially the Housing Board, should cap the number of such businesses in HDB estates for the benefit of residents.
Moneylenders can afford to pay premium rentals in prime locations, and they are driving away other potential businesses. The only beneficiaries are the landlords.
The HDB should ensure a good tenant mix and not have a single category of business dominating a neighbourhood.
<ins id="aswift_1_expand" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: inline-table; visibility: visible; position: relative; background-color: transparent; border-image: none;"><ins id="aswift_1_anchor" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: block; visibility: visible; position: relative; background-color: transparent; border-image: none;"><iframe name="aswift_1" width="336" height="280" id="aswift_1" frameBorder="0" marginWidth="0" marginHeight="0" scrolling="no" vspace="0" hspace="0" allowfullscreen="true" style="left: 0px; top: 0px; position: absolute;" allowTransparency="true"></iframe></ins></ins>
Moneylenders attract customers with very little disposable income to spend on other goods and services, so their presence does not complement other businesses. In this regard, they are not good for business in general.
Mall operators should take note too, as I see moneylenders also moving into prime locations in the city.
Albert Wong Kwan Wei
*Letter first appeared in ST Forum, 4 Dec.
