Standard Chartered and Chong Hing Bank are not accepting mortgage requests from potential homebuyers at the Le Mont residential project in Tai Po, according to property agents. While Standard Chartered declined to comment, Chong Hing Bank stated that they evaluate mortgage loan applications based on the property’s value, quality, and the applicant’s repayment ability. This decision by the banks is a setback for China Vanke, the developer of the project, as they face significant debt maturities this year and are expected to post a record net loss for 2024 amidst a prolonged property downturn in China.
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Puma’s new boss takes helm trailing Adidas and a recovering Nike
Puma's leadership has aimed to elevate the brand's image for over two years, focusing on making its sneakers and apparel more aspirational. However, new CEO Arthur Hoeld has indicated that the brand is now perceived as cheap, suggesting a disconnect between the company's goals and public perception. Want More Context? 🔎
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