03 Jul '11, 9pm

RWS Credit and Sands Credit? No relation to us: IRs: The two moneylenders, called Sands Credit and RWS Moneylend...

SINGAPORE - The integrated resorts (IR) have quickly distanced themselves from two moneylending companies set up in the past year with names similar to theirs. The two moneylenders, called Sands Credit and RWS Moneylender and Credit, were incorporated last July and in April respectively. The latter is believed to be unlicensed and has since ceased operations. Sands Credit is a licensed moneylender. Its credit manager Wayne Ng said it is so named because "we are dealing with microloans, which are like grains of sand". Borrowers have asked Sands Credit's staff if it is related to Marina Bay Sands, and its partners did consider how the name bears similarities to the IR when they set up the company, said Mr Ng. "But 'sands' is pretty much a generic term, so we didn't see much of an issue," he said. Asked about Sands Credit, a Marina Bay Sands spokesperson replied that MBS "doe...

Full article: http://www.todayonline.com/Singapore/EDC110704-0000184/RW...

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