Ann: IOUpay Acquires 42% of I-Destinasi Malaysian Finance Company, page-229

The decrease in today's SP doesn't make it a disappointing / bad company. It is a profitable business in Malaysia, that has existing customers, nearly $1b in loan book, and has a unique licence that only one other company has.

And they did invest in BNPL - the announcement states that they can target the clients/customers of Destinasi and actively shop the BNPL products to them. So it's a $40mil investment in their BNPL company, and removing cash flow risk.

If buying a small BNPL / digital company that was losing money was what you were after, then I daresay the market's would have punished IOU not only today, but over the course of the week.

During the TH, APT and SZL etc have been down circa 5%, and given the SP fluctuations, this could easily have been 10% for IOU. Once the market settles, and realises the upcoming anns still to come, I think we will regain today's high very quickly.