ASA Explores IVS 500 Financial Instruments Standards in Upcoming Webinar

HERNDON, Va.Feb. 27, 2024PRLog — ASA is pleased to announce an upcoming webinar, titled “BV543 Introduction to International Valuation Standards Council-Financial Instruments Standards,” scheduled for Thursday, April 18, 2024, from 1:00 pm to 2:30 pm Eastern Standard Time.

A vital learning opportunity for professionals in the valuation field, tax directors, tax planning professionals, CFOs, and controllers, this webinar will introduce IVS 500, a key element in the International Valuation Standards Council’s (IVSC) Standards, effective January 2025. Delivered by renowned experts, Lawrence Levine, Managing Director at Lincoln International LLC, Lucas Weiss, Director at Lincoln International LLC, and Douglas Summa, Vice Chairman at IVSC Financial Instruments Board, participants will be guided through essential aspects, including governance, data and inputs, methods and models, and quality control about the valuation of level 1, 2, and 3 securities on a global scale.

Upon completion of this course, participants will be equipped to:

  • Summarize the objectives of IVS 500.
  • Explain the valuation concepts and principles underlying IVS 500.
  • Explain why IVS 500 is important and fills a void in the valuation profession.
  • Define a global set of valuation standards for financial instruments.

To register or for more information please visit or contact us at (800) 272-8258.

ASA is a world-renowned and respected international organization devoted to the appraisal profession. As the oldest and only major appraisal organization representing all appraisal specialists, ASA is dedicated to providing the highest possible standards in all areas of ethics, professionalism, education, and designation criteria. For more information about ASA, the ASA designation program for appraisers, or the Society’s free “Find an Appraiser” Referral System, visit or call (800) 272-8258.

Hong Kong – LCQ17: Financial returns on government assets

LCQ17: Financial returns on government assets


     Following is a question by Dr the Hon Kennedy Wong and a written reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (January 17):
     Regarding the financial returns on government assets, will the Government inform this Council:
(1) of the amount of net earnings and the rate of return on average net fixed asset of the following government assets or items which are non-‍trading funds in each of the past five years (set out in a table):
(i) approximately 75 per cent shareholding of MTR Corporation Limited;
(ii) West Rail Property Development Limited;
(iii) Airport Authority Hong Kong;
(iv) all government toll-tunnels and bridges, including: 
     (a) Cross-Harbour Tunnel;
     (b) Eastern Harbour Crossing;
     (c) Western Harbour Crossing;
     (d) Tate’s Cairn Tunnel;
     (e) Aberdeen Tunnel;
     (f) Lion Rock Tunnel;
     (g) Shing Mun Tunnels;
     (h) Tseung Kwan O Tunnel;
     (i) Route 8K;
     (j) Lantau Link (including Tsing Ma Bridge); and
     (k) Hong Kong-Zhuhai-Macao Bridge Hong Kong Section; 
(v) the Hong Kong-Macau Ferry Terminal in Sheung Wan and the China Ferry Terminal in Tsim Sha Tsui;
(vi) Waterworks;
(vii) Sewage Services;
(viii) Government buildings (including car park rentals/disposal proceeds);
(ix) Hongkong International Theme Parks Limited;
(x) Hong Kong Cyberport Development Holdings Limited;
(xi) Hong Kong Science and Technology Parks Corporation;
(xii) Hong Kong IEC Limited; and
(xiii) Urban Renewal Authority;
(2) of the target rate of return on fixed assets of the following trading funds and the amount of related income in each of the past five years (set out in a table):
(i) Companies Registry Trading Fund;
(ii) Electrical and Mechanical Services Trading Fund;
(iii) Land Registry Trading Fund;
(iv) Office of the Communications Authority Trading Fund; and
(v) Post Office Trading Fund; and
(3) how the Government handles the financial returns generated by government assets mentioned in (1) and (2)?
     Our reply to the question raised by Dr the Hon Kennedy Wong is as follows:
(1) In the past five years, the amount of net earnings or cash dividends received from the following government assets or items are set out as follows:

Item Net earnings or cash dividends received by the Government
($ million)
2018-19 2019-20 2020-21 2021-22 2022-23
(i) MTR Corporation Limited 0 (Note 1) 5,561.0 5,700.0 5,700.0 6,673.2
(ii) West Rail Property Development Limited 8,000.0 0 0 0 0
(iv) Tunnels and bridges (Note 2) 2,568.3 2,208.7 1,943.3 2,043.9 1,989.2
(v) Marine ferry terminals (Note 3) 190.2 103.9 1.3 0.3 1.7
(vi) Waterworks (Note 4) 2,749.9 2,484.2 2,401.8 2,221.3 2,208.3
(vii) Sewage service
(Note 5)
1,500.0 1,317.7 1,093.1 978.1 992.0
(viii) Government properties (Note 6) 1,943.0 1,371.8 477.5 464.3 646.8

     The Government did not receive any cash dividend in the past five years from items (iii) Airport Authority Hong Kong (Note 7), (ix) Hong Kong International Theme Parks Limited, (x) Hong Kong Cyberport Development Holdings Limited, (xi) Hong Kong Science and Technology Parks Corporation, and (xii) Hong Kong IEC Limited (Note 8) as mentioned in the question.
     As for item (xiii), the Urban Renewal Authority (URA) was established in May 2001 under the Urban Renewal Authority Ordinance as the statutory body to undertake, encourage, promote and facilitate urban renewal of Hong Kong, with a view to addressing the problem of urban decay and improving the living conditions of residents in old districts. The URA does not have a shareholding structure and does not declare dividends to the Government.
     Besides, as revealed in the operating accounts in respect of government utilities over the past five years, the rate of return on average net fixed assets (ANFA) are set out as follows:

Item Rate of return on ANFA
2018-19 2019-20 2020-21 2021-22 2022-23
(iv) Government toll tunnels and bridges (Note 9) 2.4% 1.8% 0.6% 0.8% -0.3%
(v) Marine ferry terminals -1.5% -23.3% -46.3% -41.5% -43.4%
(vi) Waterworks -2.7% -2.6% -2.7% -2.9% -3.2%

Note: as mentioned above, the continued impact of COVID-19 on economic activities together with concession measures on some charges have impacts on the rates of return on ANFA.
     Since the introduction of the sewage services charging scheme in 1995, the sewage charge and trade effluent surcharges have been set based on only the operating cost of sewage services but not the capital cost. As such, the figures in respect of the return on ANFA are not available in the operating accounts of sewage services.
     Regarding other government assets or items raised in the question, given that the Government does not keep information on their ANFA, we are unable to provide figures in respect of their rates of return on ANFA.
(2) Trading funds are distinct accounting entities established under the Trading Funds Ordinance (Cap. 430) for the provision of specific government services. While remaining as part of the Government, they are allowed greater financial and operational flexibilities to run their operations as businesses with a view to improving the quality of services and responding to customer demands.
     Generally, the Government will, based on the target rates of return on ANFA of trading funds and taking into consideration their respective operating results and financial situation in a particular year, direct the transfer of statutory return from the trading funds into the general revenue in the following financial year. In the past five years, the transfer of statutory return from trading funds are set out as follows:

  Transfer of Statutory Return ($ million)
2018-19 2019-20 2020-21 2021-22 2022-23
(i) Companies Registry Trading Fund 19.4 19.6 21.9 26.4 31.7
(ii) Electrical and Mechanical Services Trading Fund 56.7 63.6 73.5 82.8 89.6
(iii) Land Registry Trading Fund 16.3 16.6 17.7 19.7 20.3
(iv) Office of the Communications Authority Trading Fund 7.7 7.5 0 0 0
(v) Post Office Trading Fund 0 0 0 0 0

     The target rates of return on ANFA for the five trading funds adopted in the above corresponding years are 5.7 per cent for Companies Registry Trading Fund, 6.4 per cent for Electrical and Mechanical Services Trading Fund, 5.9 per cent for Land Registry Trading Fund, 5.5 per cent for Office of the Communications Authority Trading Fund and 2.6 per cent for Post Office Trading Fund.
(3) Pursuant to section 3 of the Public Finance Ordinance (Cap. 2), any moneys raised or received for the purposes of the Government shall form part of the general revenue. Therefore, the financial returns generated from government assets or items in (1) and (2) above shall be covered in the Government’s General Revenue Account.
1. The Government opted for scrip dividends in lieu of cash dividends in 2018-19.
2. Include government toll tunnels and bridges in items (iv) (a), (b) and (d) to (j). Since the Western Harbour Crossing (item (iv) (c)) was not yet taken over by the Government before August 2023 and the Hong Kong Section of Hong Kong-Zhuhai-Macao Bridge (item (iv) (k)) is not toll charging, they are not taken into account.
3. The closure of the boundary control points at Hong Kong-Macau Ferry Terminal in Sheung Wan and China Ferry Terminal in Tsim Sha Tsui from early 2020 to early 2023 as a result of COVID-19, together with the abolition of embarkation fee for cross-boundary ferry passengers with effect from August 2020, have impacts on the receipts from marine ferry terminals.
4. In view of the continued impact of COVID-19 on economic activities, the Government has reduced 75 per cent water charges for non-domestic accounts during the period from December 2019 to July 2023 in order to support enterprises and trades. The concession measure has impacts on the receipts from waterworks.
5. In view of the continued impact of COVID-19 on economic activities, the Government has reduced 75 per cent sewage charges for non-domestic accounts during the period from December 2019 to July 2023 and waived trade effluent surcharges fully during the period from January 2020 to December 2023 in order to support enterprises and trades. The concession measures have impacts on the receipts from sewage services.
6. Include rents from government properties and proceeds from sales of government properties by the Government Property Agency. In view of the continued impact of COVID-19 on economic activities, the Government has provided rental concessions to eligible tenants of government properties during the period from April 2020 to December 2023 in order to support enterprises and trades. The concession measure has impacts on the rental income from government properties.
7. No dividend has been declared by the Airport Authority Hong Kong since 2014-15 in order to preserve capital for the purpose of funding the Three-runway System project.
8. Hong Kong IEC Limited has become a wholly-owned subsidiary of Airport Authority Hong Kong since March 31, 2022.
9. Include only those government-built toll tunnels and bridges (i.e. the Aberdeen Tunnel, Lion Rock Tunnel, Shing Mun Tunnels, Tseung Kwan O Tunnel, Route 8 (Kowloon section) and Lantau Link (including Tsing Ma Bridge)). For Lantau Link and Tseung Kwan O Tunnel which were no longer toll charging with effect from December 2020 and December 2022 respectively, they were excluded from the operating accounts of that year. There is no relevant information for other toll free tunnels and road infrastructure taken over or operated by the Government, including Cross-Harbour Tunnel, Eastern Harbour Crossing, Western Harbour Crossing, Tate’s Cairn Tunnel and the Hong Kong Section of Hong Kong-Zhuhai-Macao Bridge.

Asian Financial Forum (AFF) returns to explore collaborations

  • The 17th AFF will take place on 24 and 25 January, with active participation of over 3,000 financial experts and leaders from across the globe
  • Themed Multilateral Cooperation for a Shared Tomorrow, AFF aims to analyse the global economic outlook for the new year, and promote collaboration among countries and governments to achieve sustainability and seize emerging opportunities
  • The Forum will gather more than a hundred global business leaders as speakers, including representatives from Société Générale, Franklin Templeton, Gobi Partners, HOPU Investments, HSBC Asset Management, Bridgewater Associates, Prudential plc, and Standard Chartered
  • Plenary sessions will be expanded from one to two, along with two new discussion sessions on Stewarding China’s New Chapter and CIO Insights. The forum will focus on opportunities in Mainland China, ASEAN and the Middle East
  • The Dialogue with Bob Prince has been added to this year’s AFF on the second day. Mr Prince is Co-Chief Investment Officer of Bridgewater Associates, the world’s largest hedge fund

HONG KONG, Jan 11, 2024 – (ACN Newswire) – The 17th Asian Financial Forum 2024 (AFF), co-organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council (HKTDC), is set to take place on 24 and 25 January 2024 (Wednesday and Thursday) at the Hong Kong Convention and Exhibition Centre (HKCEC). This year’s AFF, themed Multilateral Cooperation for a Shared Tomorrow, will be the first significant financial and business event in the region this year, bringing together over a hundred speakers, influential figures in the financial industry, global policymakers and business leaders. Speakers will thoroughly analyse the global economic outlook, actively promote collaboration in accordance with the policies of national and HKSAR governments, explore sustainable economic development models and collectively identify the abundant opportunities for multilateral cooperation. The Forum is expected to draw over 3,000 elite professionals from financial and business sectors, to facilitate fruitful exchanges and strengthen ties among industry leaders.

Luanne Lim, Chairperson of the AFF 2024 Steering Committee and HSBC’s Chief Executive Officer, Hong Kong, said: “The year 2024 is expected to be characterised by a slowdown in inflation and potential rate cuts. The focus of markets will be on the timing and extent of policy easing, as well as elections in multiple countries and regions. In these complex times, the Asian Financial Forum serves as a valuable platform for exchanging diverse perspectives and supporting multilateral cooperation. The collective wisdom of experts speaking at the AFF will give the participants a deeper understanding, enabling them to make well-informed decisions in the year ahead.”

Dr Patrick Lau, Deputy Executive Director, HKTDC, said: “Amidst global uncertainties and geopolitical tensions, accompanied by various challenges, new market opportunities and partners are emerging. To build a sustainable and inclusive development model, close communication and cooperation among nations are crucial. With the theme Multilateral Cooperation for a Shared Tomorrow, this year’s AFF will explore economic policies and multilateral cooperation opportunities among governments and governments (G2G), governments and businesses (G2B) and businesses and businesses (B2B) from multiple angles. It will also address a range of timely market-related issues, further promoting sustainable development and showcasing the advantages of Hong Kong as an international financial centre.”

This year’s Forum will encompass diverse events, including over 40 thematic discussions, policy dialogue, keynote luncheons and breakfast panel, and workshops. These sessions will explore pressing topics such as the global economic outlook, opportunities in Mainland China, investment prospects, green finance, financial technology and interest-rate trends. Their objective is to provide participants with valuable insights into internationally relevant issues and global economic development trends. These events will boost Hong Kong’s ties with the international community, fostering greater connections and generating more business opportunities.

ASEAN, Middle East market opportunities take centre stage as thematic discussions expand

ASEAN and the Middle East, with their considerable economic potential, hold crucial position in driving global multilateral cooperation. This year’s Forum has garnered enthusiastic responses, and a surge in participation from ASEAN, the Middle East and other parts of the globe is expected. To facilitate broader discussions and embrace sustainable economic development, the Plenary Sessions have been expanded from one to two, enabling financial leaders from ASEAN, the Middle East and other regions to convene and deliberate on future fiscal policy trends. Topics of significant focus will include the opportunities in the mainland, ASEAN and the Middle East.

On the first day of the AFF (24 January), Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR, will preside over two Plenary Sessions. At the morning Plenary esteemed speakers including Ali bin Ahmad Alkuwari, Minister of Finance of Qatar; Julapun Amornvivat, Deputy Minister of Finance of Thailand; Mohamed Maait, Minister of Finance of Egypt; and Marko Primorac, Minister of Finance of Croatia, will share their countries’ respective outlooks on financial policies. At the afternoon Plenary, distinguished speakers including Muhammad Al Jasser, President of the Islamic Development Bank; Prof Hala Elsaid, Minister of Planning and Economic Development of Egypt; Alexandra Jour-Schroeder, Deputy Director-General of the Directorate-General for Financial Stability, Financial Services and Capital Markets Union at the European Commission; Suahasil Nazara Vice Minister of Finance, Indonesia and Dilma Rousseff, President of New Development Bank, will analyse the influence of multilateral cooperation on regional economic development, financial crises and sustainable economic growth.

On the same day Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, will host the Policy Dialogue where esteemed representatives from the Asian Development Bank, Central Bank of Mongolia,  Deutsche Bundesbank, Dubai Financial Services Authority, and International Monetary Fund will convene under the theme Towards International Economic and Financial Cooperation to exchange perspectives on global monetary policies.

Global leaders and Nobel laureates take the stage at keynote luncheon sessions

Another noteworthy aspect of the Forum will be two Keynote Luncheons featuring esteemed guests. Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, and Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller, Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, have been invited to deliver insightful speeches. Prof Sachs will delve into the topic of sustainable development, while Prof Diamond will discuss the future trajectory of United States Federal Reserve interest rate moves and the risks associated with economic development.

Dialogue with Bob Prince added as a special session

An additional session, Dialogue with Bob Prince, has been added to this year’s AFF on the second day. Mr Prince, Co-Chief Investment Officer of Bridgewater Associates, the world’s largest hedge fund, will appear to share valuable investment insights and provide perspectives on the importance of multilateral cooperation.

Staying ahead of market trends with Stewarding China’s New Chapter and CIO Insights

In response to dynamic market opportunities and evolving industry trends, this year’s AFF will introduce Stewarding China’s New Chapter and CIO Insights, closely aligned with market conditions. The session Stewarding China’s New Chapter seeks to explore the mainland market potential and analyse collaborative prospects with other regions, underscoring the role and advantages of Hong Kong. CIO Insights will bring together chief investment officers from renowned international institutions to share unique perspectives on the investment landscape within the current macroeconomic environment. The HKTDC and Knowledge Partner PwC will also present the findings of a joint survey on the industry’s views and outlook on artificial intelligence. The results of this survey will be announced on the first day of the Forum.

The highly anticipated Global Economic Outlook, Global Spectrum, Dialogues for Tomorrow, and Fireside Chat sessions will return, covering topics such as asset and wealth management, insurance and risk management, multilateral capital market cooperation, food technology and supply chain security, financial technology, RMB internationalisation, financial technology, Web 3 and virtual assets, impact investing, and financial cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and Islamic finance. Prominent speakers include Lorenzo Bini Smaghi, Chairman of Société Générale; Fang Feng-lei, Founder and Chairman of HOPU Investments; Jenny Johnson, President and Chief Executive Officer of Franklin Templeton; Nicolas Moreau, Global Chief Executive Officer of HSBC Asset Management; Thomas Tsao, Co-Founder of Gobi Partners; Anil Wadhwani, Chief Executive Officer of Prudential plc etc.

AFF Deal-making and exhibition connect investors and start-ups, driving innovation

To facilitate more substantial cooperation, the HKTDC and Hong Kong Venture Capital and Private Equity Association (HKVCA) are co-organising the AFF Deal-making. This platform enables participants to engage in one-on-one meetings, connecting them with funds and investment projects from around the world. The event will focus on key industries such as financial technology, environment, energy and clean technology, medical technology, deep technology and consumer goods. This year’s AFF Deal-making is expected to attract about 200 investors and approximately 400 projects. Following the conclusion of the Forum, participants can utilize online matching services for virtual meetings until 30 January (Tuesday) to continue exploring key opportunities in different fields.

The Forum continues to feature exhibition zones including Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone to introduce cutting-edge applications of financial technology and showcase future unicorn innovation concepts. The exhibition zones are expected to bring together over 140 local and global exhibitors, international financial institutions, technology companies, start-ups, investment promotion agencies and sponsors, including Knowledge Partner PwC, HSBC, Bank of China, Standard Chartered Bank, UBS, China International Capital Corporation (CICC), Huatai International, Cyberport and more.

The Global Investment Zone includes participation from countries such as Canada, Dubai, Egypt, Finland, Kuwait, Luxembourg, Mainland China, Malaysia, Mauritius, Portugal and Spain. Investment promotion agencies from these countries will introduce local investment environments and potential projects on-site. The InnoVenture Salon is dedicated to supporting start-up development and provides a platform for more than 100 start-ups to connect with international investors and potential partners,  of which 60 fintech start-ups from Hong Kong, Australia, Austria, France, Japan, Korea, the Mainland, Singapore, Thailand, the United States and Vietnam under the FintechHK Startup Salon will showcase innovative concepts in areas such as AI, blockchain, insurtech, payment technology, regulatory technology, and wealthtech.

Exclusive offers for AFF participants

As the first major financial and business event in the region for the year, the AFF is committed to telling the good story of Hong Kong and promoting large-scale events or exhibitions. Organisers have arranged experiential activities for overseas participants, including one-time privileged access to the airport lounge, free admission to the Hong Kong Palace Museum, 1-hour night tour of Hong Kong aboard an open-top Big Bus or Hong Kong’s iconic Aqua Luna red-sail junk boat arranged by the Hong Kong Tourism Board. Furthermore, participation in the Standard Chartered Hong Kong Marathon 2024, dining discounts and guided tours by the Lan Kwai Fong Group, dining discounts at Harbour City and Times Square, and discounted passes for Hong Kong attractions through Klook will be available. These initiatives aim to provide overseas visitors with a firsthand experience of the vibrant colours, rich culture and dynamic lifestyle that Hong Kong has to offer.

Asian Financial Forum:
Speaker List:

Members of the media interested in interviewing speakers at the Asian Financial Forum can email or by 16 January 2024.

Photos Download:

Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive, Hong Kong, of HSBC (second from right); Patrick Lau, Deputy Executive Director of the HKTDC (second from left); Loretta Fong, Mainland China and Hong Kong Sustainability Deputy Leader, PwC Hong Kong (first from left); and Amy Lo, Chairman, Executive Committee, Private Wealth Management Association (first from right) held a press conference today to introduce the programme and speaker’s line-up for the 17th Asian Financial Forum.

Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive, Hong Kong, HSBC

Patrick Lau, Deputy Executive Director of the HKTDC

Loretta Fong, Mainland China and Hong Kong Sustainability Deputy Leader, PwC Hong Kong

Amy Lo, Chairman, Executive Committee, Private Wealth Management Association

Media enquires

Yuan Tung Financial Relations:
Anson Wong, Tel: (852) 3428 3413, Email:
Tiffany Leung, Tel: (852) 3428 2361, Email:
Hing-fung Wong, Tel: (852) 3428 3122, Email:

HKTDC’s Communications & Public Affairs Department:
Katy Wong, Tel: (852) 2584 4524, Email:
Snowy Chan, Tel: (852) 2584 4525, Email:

HKTDC Media Room:


The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: Follow us on Twitter @hktdc and LinkedIn

Topic: Press release summary

United Financial Group NO FICO Required, residential loans, 7 days closing, up to $2 million-

United Financial Group has paved the way for developers and investors to continue to succeed by offering flexible options to support borrowers. We offer unique debt financing solutions for real estate projects across the U.S.

NEW YORKNov. 27, 2023PRLog — United Financial Group Introduces Flexible Financing Solutions for Real Estate Projects

United Financial Group, a leading financing company based in New York, is pleased to announce its commitment to supporting developers and investors with flexible debt financing options for real estate projects across the United States. Specializing in residential rehab, fix and flip, commercial bridge, hard money, and construction loans for multi-family, apartments, hotels, offices, and warehouses, United Financial Group aims to provide tailored solutions to meet the unique needs of borrowers.

As part of their new loan programs for December 2023, United Financial Group offers fast loan closings in just 7 days, without being FICO score driven and without ratio considerations. They cater to borrowers seeking investment properties, rehab loans, and quick lines of credit for down payments and closing costs. Additionally, United Financial Group provides business funding solutions with collateral options.

The program highlights include:

– Competitive rates starting as low as 8.99%
– Loan amounts ranging from $50,000 to $2 million
– Nationwide coverage
– No minimum FICO score requirement
– Availability of both 30-year fixed and short-term options
– YSP/Brokers protected

United Financial Group specializes in hard money straight asset-based lending, offering loan-to-value ratios of up to 70% (with an extended program allowing for 75-80%*), and 100% combined loan-to-value allowed. Stated income, no-documentation loans are available, with FICO scores not being a determining factor. United Financial Group accepts all property types, including residential, multi-family, commercial, industrial, and land.

For borrowers seeking home equity loans for investment properties, primary residences, or second homes, United Financial Group provides attractive options. These loans feature interest rates of up to 11%, a minimum FICO score requirement of 600, no-documentation requirements, and fully amortized payments based on a 30-year term. The closing process typically takes 2 to 3 weeks.

United Financial Group also introduces new programs effective from December 2023 for commercial projects. These programs offer attractive terms such as flexible loan terms of up to 5 years, no prepayment penalties, loan-to-value ratios of up to 85%, rates starting from 6% per annum, fees as low as 2%, and loan sizes ranging from $1 million to $50+ million nationally. Real estate collateral is accepted, and various property types, including multifamily, churches, condos, offices, retail spaces, hotels, industrial properties, mixed-use developments, and land, are eligible.

United Financial Group’s financing solutions provide short-term, competitively priced funding to execute business plans, stabilize assets, and bring projects to successful completion. The company’s risk-managed approach emphasizes multifamily, industrial, and office collateral in regions experiencing strong population and GDP growth.

For more information about United Financial Group’s flexible financing solutions, please contact their dedicated team at 1844-323-3863 or visit their website at

About United Financial Group:

United Financial Group is a leading financing company headquartered in New York, specializing in providing tailored debt financing solutions for real estate projects. With a focus on residential rehab, fix and flip, commercial bridge, hard money, and construction loans, United Financial Group offers flexible options to support diverse borrower needs. Their risk-managed approach and commitment to exceptional customer service set them apart in the industry.


United Financial Group
Phone: 1844-323-3863

Legacy Trustee Ltd Partners with Prominent Financial and Educational Collaborators in Labuan International Business and Financial Centre on Wealth Management Portfolio

Legacy Trustee Ltd (“Legacy Trustee” or the “Company”), an established Asian private trustee with a Digital Asset Infrastructure Platform that provides international wealth management services through custom-made trust portfolio services and education, has signed a Memorandum of Understanding (“MoU”) with multiple well known financial institutions and organisations in Labuan International Business and Finance Centre (“Labuan IBFC”) on Wealth Management Portfolio.

The signing partners includes Alpine Advisory Sdn. Bhd, AMS Trust Company Limited, Estate Planning Practitioners (HK) Limited EPPL (HK), Fintech Bank Limited, GLP Consultancy Sdn Bhd (U Need Will), J.Rotbart & Co Gold Precious Metal, Pacific Invesco Capital Ltd, PFPFA Pte Ltd, UOB Kay Hian Wealth Advisors Sdn. Bhd. and VCI Global Limited.

Through these partnerships, the Company aims to provide clients with an integrated wealth preservation plan.  This collaborative approach enhances convenience as well as safeguard the best interest for settlors and beneficiaries.

The wealth management involves some strategic management of financial assets, to achieve an individual and family financial goals. Spanning from retirement savings to asset protection for future generations.  Trusts play a pivotal role in realising a spectrum of wealth management objectives. Among key benefits of using a trust for wealth management is that it offers flexibility in financial planning for asset growth and preservation while segregating power over managing, owning, and benefiting from trust assets. When assets are placed under a trust, they are no longer considered part of the grantor’s estate, which means that assets under trust are not subject to traditional estate distribution. This can be particularly important for high-net-worth individuals who may have complex succession planning needs for their immovable assets, movable assets, and business empires.

As Labuan IBFC is a leading international business and finance centre that offers a wide range of financial products and services, including the new in demand wealth management mechanism named Labuan Foundations. Among key benefits of using a Labuan Foundation, is that it provides asset protection and confidentiality. Assets held in a foundation are owned by the foundation itself, and not by the founder or beneficiaries. Additionally, the names of the founder and beneficiaries are not publicly disclosed, ensuring confidentiality. Labuan Foundations are also flexible and tax efficient.

Successfully, Legacy Trustee Ltd and Bank Islam Trust Company (Labuan) Ltd have declared their respective intentions for the purpose of achieving the principles of collaboration which are to offer an innovative and an attractive option of Labuan Foundations structure for high-net-worth individuals and families as part of their wealth management plan.

The Malaysian government, through Labuan Financial Services Authority (“Labuan FSA”), having a wide array of financial products and services, and skilled workforce, is committed to developing Labuan as a world-class sustainable financial centre.

Mr. Nelson Goh, Principal Officer and Managing Director of Legacy Trustee said, “In our rapidly evolving digital age, digital assets are crucial, and collaboration among digital trustee companies, asset managers, and regulators is necessary. Labuan aims to become Asia’s top financial hub, offering tax efficiency, diverse financial products, and skilled professionals. To achieve this shared goal, both the public and industry players need access to knowledge and continuous education. Importantly, synergy and unity among industry players are vital to achieving the goals.”

He added, “Today’s MoU symbolises our commitment to enrich wealth management, estate planning, and cross-financial institutional and legacy academy collaborations. It’s a milestone for Legacy Trustee Ltd, Labuan, and the Malaysian financial industry.”

This MoU is also witnessed by representatives of Labuan IBFC Incorporated Sdn Bhd (“Labuan IBFC Inc.”), representatives of Bank Islam Trust Company (Labuan) Ltd and the President of Malaysian Institute of Estate Planners (“MIEP”), Mr See Kok Loong, which will mark a significant step towards promoting the utilisation of trusts and foundations in wealth management, estate planning and importance of legacy academic in fostering among financial institutions within the Labuan International Business and Finance Centre. This initiative is believed could attract new businesses and investment to Labuan, which would benefit the Malaysian economy.

Back Row (From L-R):
– Vivian Yong, Group COO, VCI Global Limited 
– Melvin Sho, Representative of Fintech Bank Limited (Labuan)    
– Herman Chong, Director of Strategic transaction-Singapore, J. Rotbart & Co
– Jeff Chow, Chief Executive Officer, PFPFA PTE LTD.
– Alvin Tan, Chief Executive Officer, UOB KayHian Wealth Advisory Sdn Bhd
– Julian Seng , Director of Compliance, Alpine Advisory Sdn Bhd
– Gary Lee, Founder, GLP Consultancy Sdn Bhd “U NEED WILL”
– Lee Chiwi, Chief Executive Officer, Estate Planning Practitioners (HK) Limited

Front Row (From L-R):
– Dato Sri Desmond Lim, Board of Advisor, Pacific Invesco Capital
– Joyce Louisa, Chief Operating Officer, Legacy Trustee
– Dato’ Seri Prof. Dr. Mohamad Zabidi Ahmad, Independent Non-Executive Director, BIMB Investment Bank Islam Malaysia Berhad
– Nelson Goh, Managing Director, Legacy Trustee
– Eric Rodriquez Sigutil, Head, Legal & Secretarial, Bank Islam (Labuan) Trustee LTD
– Komaladewi Sabilawati, Representative of Datuk Iskandar Mohd Nuli, Executive Chairman cum CEO, Labuan IBFC Incorporated
– Rita Mohd Sharif, Director/ Principal Officer, AMS Trust Company Limited
– See Kok Loong, President, Malaysia Institute of Estate Planner

Topic: Press release summary