News and Insights

Pan Asian Mortgage Company Limited is a Hong Kong based innovative financial services company, specializing in mortgage origination and capital market financing.

Support the community, Let’s work together

During the anti-epidemic period, it is not just masks that are in shortage. When the public snapped up disinfection items, nephropathy patients also look for alcohol wipes for injection disinfection. Pan Asian have donated a batch of alcohol wipes to nephropathy patients in need through Hong Kong Kidney Foundation Jockey Club Dialysis Centre. Support the community, lets work together.

Pan Asian distributed masks to elderlies in Wong Tai Sin

After distributing masks to Sham Shui Po and Kowloon City neighborhoods through different charities, Pan Asian distributed another batch of masks to the elderlies of Wong Tai Sin through “H.K.S.K.H. Chuk Yuen Canon Martin District Elderly Community Centre”. Stand with Hong Kong people, we fight the virus together.

Tackle COVID-19 Together With Hong Kong People

Further to the first batch of masks was distributed to Sham Shui Po neighborhood through our social enterprise partner “Food Angel” in March, Pan Asian has distributed the second batch of masks through another social enterprise partner “S.K.H. Holy Carpenter Church Kowloon City Integrated Home Care Services Team” to those in need in Kowloon City. Pan Asian will continue to play a role in the collective efforts to tackle COVID-19 together with Hong Kong people.

Together, We Fight the Virus!

Given the impact of COVID-19, it has been quite challenging and cost prohibitive for the most needy in Hong Kong to purchase masks to protect themselves. Working with our social enterprise partner “Food Angel”, Pan Asian Mortgage distributed 1,500 surgical masks for the elderly and low-income families recently. Together, the firm is doing its part to help protect the community in fighting the Virus.

Pan Asian sponsored the HKGCC Free Ride Day

Pan Asian sponsored the Free Ride Day organized by the Hong Kong General Chamber of Commerce on November 29, 2019. The event allowed general public to enjoy travel on all trams and two Star ferry routes for free. Pan Asian Director Leland Sun attended the celebration ceremony at Sai Wan with other Sponsors and General Chamber committee.

2019大跌市的盲點—負資產影響被誇大(下)

筆者之前提到,在2002年推出的負資產按揭計劃,12年間只有極低的壞帳率。那究竟對香港今日面對的情況,有何意義? 其實,風險管理亮麗成績的基礎,主要在授信上堅持審批條件,1) 是貸款用於償還舊有按揭欠款,沒有套現(cash out);2)申請人物業是自用; 3)而且供樓紀錄良好。在計劃推出後一年,經濟環境在2003年其實曾進一步惡化,樓價比2002年時又下跌了起碼一成。原有批出的140%負資產按揭,其時再計算按揭成數的話,可能已是150%、160%。但當時其實沒有出現大規模的拖欠供款現象,原因在於客戶篩選及授信標準的堅持。

2019大跌市盲點──負資產的影響被誇大(上)

筆者曾提到,投資者與自住用家對於「償債」的取態完全不同。香港是一個以用家主導的樓按市場,非業內人士可能會憂慮大批業主會因為樓價下跌、物業成為負資產、再拋售自住單位進而賴債。但根據確實的負資產業主供樓數據,可以說以上都是杞人之憂。 宏亞按證在2002年與本地銀行共同出資,在香港引入負資產轉按計劃,不單是同類貸款的先行者,實際上批出的按揭宗數,亦遠超過半官方的同業。不誇張的說,我們持有香港最完整,最具參考性的負資產業主還款模型。當年計劃推出之時,香港正撤銷利率管制,一般銀行的按揭利率,由1997時的P+2厘,下調至2002年的P-2厘左右。但新造按息下調,對一眾負資產業主來說卻是可望而不可即。原因是物業成為負資產,新按貸款不足以償還舊按餘額,沒法以轉按方式去爭取到低息的好處。

2019大跌市盲點──投機短炒

樓價進入調整期,已是無容爭辯的事實,如果貿易戰持續,港樓弱勢的環境將維持一段時間,甚至有評論估樓價可大跌七、八成。但此類預言其實充滿盲點──樓價跌多跌少是一回事,而只提樓價跌,不談信貸場景,根本無助於我們了解大局。 確認人的歷史意義 討論之前,先說一個故事。故事發生於1997年,當時筆者在銀行工作,同事報告一名投資者來申請按揭,事主購買一個位處旺角波鞋街的舖位,面積只有100方呎,作價超貴。按程序需評估「磚頭」,結果是估價不足。估價不足其實非常合理,此舖位一個月收租大約3.5萬元,呎租350元,以成交價計,回報率只有1.5厘。20年後的2018年,那區租值只不過同樣是300多元一呎,對比之下,大家可知道當時造價的不合理。 當年筆者看到舖位的租金資料,第一個感覺就是──此舖位的租客,除非是賣白粉才有足夠利潤去交租!同事如實回覆客人估價時,這位所謂「資深投資者」大表不滿,認為銀行在阻他發達!