Today we’re going to look at the oldest form of lending, which dates back to the Ancient Greek and Roman Empires. Make a guess – it was also found in China during the Spring and Autumn Period or between 770 to 476 BCE. 

Bingo if you’ve guessed pawn shops! Pawnshops first made their way to modern Singapore back in 1872.There were 25 pawnshops dotted across Singapore from 1920 to 1929, and they generated monthly turnover of over $2 million. 

So as you can imagine business was thriving, before the Great Depression in 1929 and World War II dealt a blow to the industry.

90 years after the Great Depression, we’ve got the COVID-19 pandemic and the War in Ukraine.  But what do such economic uncertainties mean for pawnbrokers in terms of new loans, redemption and interest income?

Let’s pose the question to our guest for today. Founded in 1988, ValueMax provides pawnbroking and secured money lending services, as well as the retail and trading of jewellery and gold. 

The SGX-listed company has 42 pawnbroking and retail outlets across Singapore as well as 21 other outlets in Malaysia operated through its associated company. 

On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Yeah Lee Ching, Chief Marketing Officer and Executive Director, ValueMax for more.