IOU vs DOU, page-218

Looking at past annual reports and putting aside FY2020, there appears to be a general decline in gross profits and net assets. Good to see that remuneration has been going down accordingly, although it should have decreased more in FY2019 imo.

Based on the figures, it does not look like the existing business is sustainable despite the 18m transactions cited in this thread. Perhaps that is due to the aggressive competition in Malaysia (as noted in the FY2018 annual report). I assume this is the reason they are trying to tap into new services.

If there was more certainty in the existing business I'd be more inclined to jump onboard since that could provide a soft landing if their new services fail to gain traction, but for the moment it sits outside the parameters I look for in a stock of this nature.

Having said that, I think the BNPL hype is at least likely to deliver some short-term profits, and if IOU really pull it off, my post will age badly.
GLTAH