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Insights & updates
Stay informed with our latest industry perspectives, market trends, and company news. Our blog features expert analysis, practical tips, and thought leadership content designed to keep you ahead of the curve.
Construction Industry Security of Payment Ordinance: What the construction industry should know and do
The recent gazettal of the Construction Industry Security of Payment (“SOP”) Ordinance on 27 December 2024 marks a significant milestone for the construction industry in Hong Kong. This landmark legislation aims to address longstanding payment issues and enhance protections for stakeholders throughout the supply chain. Late payments and cash flow disruptions have long plagued contractors and subcontractors, often leading to project delays and financial...
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Novade and Riverchain Announce Strategic Collaboration to Enhance Supply Chain Financing in Construction
30 Oct 2024 Hong Kong, 30 March 2024 – Novade Solutions and Riverchain are excited to announce the signing of a Memorandum of Understanding (MOU) to embark on a strategic collaboration aimed at transforming supply chain payments and financing within the construction sector. This collaboration seeks to harness construction data to provide tailored financial solutions. Both parties recognise the pressing...
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Riverchain Secures HK$400 Million Financing Deal to Optimise Capital Flows in Hong Kong’s Construction Sector
24 Aug 2024 (From left to right) Hsiang Low, General Counsel & Director of Operations at Riverchain; Ben Wong, Chief Executive Officer at Riverchain; Tommy Chung, Director of Business Development at Riverchain Riverchain, a Hong Kong-based fintech startup committed to fostering a resilient future in construction through advanced technology, has launched a HK$400 million fund to support the city’s subcontractors...
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Riverchain Wins Gold Award at Prestigious HKICT Awards 2023
Riverchain, an enterprise and permissioned blockchain platform, has been honoured with a prestigious Gold Award at the Hong Kong ICT Awards 2023. Organised by the Hong Kong SAR government, the HKICT Awards recognised Riverchain for its application of blockchain technology to enhance speed and traceability, offering deep-tier, green finance solutions in an otherwise opaque construction supply chain market. The winner...
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Is Your Business Ready For A High- Interest Rate Environment ?
15 Sep 2023 High-interest rate environment and its impacts on financing options for the construction industry As we navigate the global economic situation, characterized by uncertainty and weak growth, it is crucial for businesses to evaluate their readiness for these challenging conditions. In July 2023, the US Federal Reserve FED raised the US federal benchmark interest rate to 5.25-5.5%, the...
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