| 14-11-2007: AEON Credit to launch prospectus on Friday
KUALA LUMPUR: AEON Credit Service (M) Bhd, en-route to be Malaysia's first Main Board-listed non-banking consumer finance company, will launch its prospectus on Friday. In a statement yesterday, the company which issues credit cards mainly to Jaya Jusco departmental store patrons, said it would raise RM55 million by selling 22 million new shares at RM2.50 apiece. The money will be used for asset investments, the repayment of bank borrowings and working capital. The company, which also offers easy-payment schemes and personal financing packages, expects to be listed in mid-December. The proposed listing also involves an offer for sale of 20 million existing shares by its promoter, The AEON Group of Japan. AEON Credit Japan is one of the biggest credit card issuers in Japan with more than 14.8 million card members there.
HSBC reports 'good business growth'
HSBC Malta maintained good business growth in 2007, continuing the positive profit and balance sheet trends reported in its first half 2007, the bank said in a statement today. "As at 31 October 2007 both customers" deposits and customers’ loans increased strongly over the prior October end, whilst maintaining a steady and stable loans to deposits ratio. The core income and profitability levels disclosed in the first half 2007 results were sustained during this financial period. There was no deterioration in the quality of credit lending whilst liquidity and solvency indicators remained sound and ahead of regulatory levels" the bank said in an interim directors" statement covering the period July 1 to October 31, 2007. It said that during the third quarter work on major projects had progressed well, including the adoption of the euro, implementation of SEPA, Basel 2 and "Chip and Pin" card functionality.
First Credit Correction Service Opens Its Doors For Business
Up to 79 percent of all credit reports contain inaccurate information. Odessa, Texas (Web.com/PRWEB ) November 18, 2007 -- First Credit Correction Service opens its doors for business. First Credit Correction Service Newsletter:
The general public may not be aware that one in four credit reports are so inaccurate that they are declined credit. Everything in today's world is based off credit reports. Things such as getting a mortgage, a car loan, a credit card, a bank loan or even an apartment lease to other things as small as getting a cell phone and in some cases, even employers will look at credit reports when deciding to give someone a job. Many times when a person has paid off a credit card or loan only to apply later in life for a new loan, the same item still shows a balance.
Live within your income, not within your credit limit to avoid finance trap
Remember the euphoric rush we felt when we got our first unsolicited offer of a "pre-approved" credit card? Well, all over Fairbanks tomorrow the postal carriers will be delivering that same "rush" to thousands of unsuspecting high school and college students over 18 years old (the legal age to contract). I polled one of my classes last week and every single student got at least one offer and one student received five — in that week alone! Why on earth would credit card companies offer poor broke students credit cards? The reason is (insert drum roll here) students like to own "stuff" and are sure to use the card. Those who offer unsolicited credit cards, for the most part, aren't really banks or credit unions, they are finance companies and they make lots of money from merchants when their cards are used in addition to huge interest payments and fees on top of fees when balances aren't paid in full, go over the limit, or are paid late.
Credit card spree sees bank rethink issue policy
The perils of posting out unsolicited and pre-activated platinum credit cards were brought home to the ANZ Bank when it launched a new card in July. The policy was dropped after negative customer feedback and after at least one person got hold of one of the Qantas ANZ Visa cards and racked up more than $8000 before the cardholder, a Hastings woman, knew it had been issued. The first she knew about the card was when ANZ called her about some suspect purchases. "They rang me and asked if I still had my credit card. I looked in my wallet and said `yes'," the woman said. "He asked if I'd spent money in certain shops. I said `hell no', and that's when they must have realised what had happened. "I had my card so had no idea about it being stolen. Apparently the bank had sent out a replacement card I didn't need.
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