Ann: IOUpay Acquires 42% of I-Destinasi Malaysian Finance Company, page-54

This is a great left field announcement! I had thought they were acquiring a small company in Indonesia or somewhere to help with rollout, but to acquire a stake in a unique digital Malaysian Finance Company is huge. Particularly one of only two of its kind, and given the metrics used in the announcement, must be profitable. It also nearly has $1bil in receivables on its books, with no credit risk. So sustained revenue guaranteed for the coming months.

IOU can also use this to leverage its BNPL and digital business, meaning that not only will it be getting a slice of the A$10-15mil profit of the Malaysian company, but it can use this company to bolster its own platform, and therefore increase its own revenue. More the profit it will receive from this investment, can offset any losses in the start-up of its BNPL until it is profitable.

To think we still have announcements on Razer integration, roll-out into Indonesia and Singapore, financing agreement with banks to fund BNPL and our offering of micro loans and health insurance to come over the next 4 months.

Also interesting to know whether this is at all linked to digital banking licence...