A recent article in the South China Morning Post (SCMP) mentioned Kowloon and its former name Aurong La. That was the old name of Kowloon. It was a trading post for Chinese in the 1800s. Today, the name is used to describe the town located in Hong Kong's Tsim Sha Tsui district. The area around Kowloon has been developed and now is the site of the Kowloon International Airport.
The airport was established in 2001 and it can accommodate about 180 aircraft. When it was completed, the total area of the town, including all the buildings, roads, fences, railings and parking lots, was about one square kilometer. The airport was built by the Hong Kong and China Industrial Corporation (HCIC), a major construction company. There are two international flights every day to Kowloon from Hong Kong and both have terminals with long runways.
According to the SCMP article, the latest development at the Kowloon airport is the extension of the Kowloon Causeway, which links Kowloon Point and the new Causeway terminal. This will provide easy access to the town from the Causeway. It is expected to be finished in 2010. Another new project, the Hong Kong- Guangzhou Express Highway, will also enhance the connectivity between the regions.
In terms of business financing, the article mentioned the Hong Kong- Guangzhou express Highway (HOXG) as another great example of developing a transport system that allows for quick movement of freight and passengers. However, the article noted that the Hong Kong- Guangzhou Express Highway will not be connecting to the Kowloon airport. The article did not mention the third mode of transportation, which is the Hong Kong-Kowloon Flyway (HKCG). However, it was noted that the KCG is the mode of travel most frequently used by travellers between the Kowloon and the mainland.
On April 3, the SCMP reported that Hong Kong's chief executive, Le Lam Chi Wing, had approved a plan to upgrade the airport terminal. In this plan, the terminal will be relocated to the North Island, adjacent to the present-day Mainland. The new terminal will have all the facilities of the Kowloon and Central districts. As such, the SCMP reported that a visit by Mr. Lam would be closely watched by the International Airport and other officials of the country.
On the same day, the SCMP published an article on the bank's website, under the subject “Women Entrepreneurs Setting New Goals,” in which it was mentioned that a pilot programme would be introduced in July to help women entrepreneurs set up their own businesses without too much difficulty. In this programme, small business loan ke liye would be made available to women entrepreneurs with no credit history. It was also mentioned that the bank would make it easier for business borrowers to access loans, by improving access to the various loan products such as the business loan ke liye.
The business loan ke liye, introduced by the bank in June, follows a simple structure: a small . . . . . . business loan lene ke liye (or business loan), supported by a high-risk commercial facility (such as a pawnshop) at a very high interest rate (e.g. about 250 percent). The borrower has to repay the loan, along with interest, by utilizing the pawnshop's facility. The pawnshop then pays the bank. The idea is to ensure that the entrepreneur doesn't use the facility to its full advantage – the bank should have foreseen this since it is only meant as a stepping stone.
On the face of it, this seems like a very attractive business loan ke liye program. And while it is true that those who don't have a track record in the industry will most likely be at a disadvantageous position when applying for the loan, the entrepreneur still stands a better chance of success in normal circumstances. The entrepreneur will simply have to convince the bank that he/she will not default on the loan. The borrower must show the bank that they have sufficient earnings and a respectable net worth. This can be done by providing a business plan or a feasibility study showing that there is a strong chance of success. If these things are done, then the entrepreneur should be able to get approval for the business loan ke liye apply karifore.