SINGAPORE (THE NEW PAPER) - More people going to pawnshops during the circuit breaker period are redeeming their gold jewellery than pawning their items for cash.. Read more at straitstimes.com.
SINGAPORE - More people going to pawnshops during the circuit breaker period are redeeming their gold jewellery than pawning their items for cash.
Mr Ho, who runs Heng Seng Pawnshop at Toa Payoh Central, said more than half of his 100 or so daily customers are Singaporeans redeeming their pawned items."It could be because Singapore Pools has shut, and so some people have found themselves with extra cash from not placing their usual bets," he said.
Pawn tickets that expired on or before May 4 are also given a one-month extension from expiry if the pledge has not been forfeited, along with a one-month interest waiver for redemption or renewal.When approached by The New Paper, several customers said they found themselves with"extra cash" recently and so decided to redeem their items.
Nominated Member of Parliament and Singapore University of Social Sciences economist Walter Theseira said it was difficult to identify a specific reason for the trend.
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