$1 Club, page-24671

There's 1.6m civil servants in Malaysia. There's talk of excluding certain types of service from this consideration which would bring the number down to 600k however at this point nothing has been changed.

As per my earlier post regarding civil service socio-economic proclivity to take on debt. Consider the research suggesting that 50% of a civil servants wage is used on debt repayment. Let's say best case scenario, IOU cross-sells BNPL for bill payments to the 1.6m civil servants and there's 100% uptake because there's 0% interest which is highly attractive to this demographic. Instant approval of 1000MYR which is approximately $328 AUD. Let's say this demographic spreads the payments across the maximum capacity of 6 months. That would equate to a total of $656 AUD per annum, per customer.

$656 AUD x 1,600,000 civil servants = $1,049,600,000 AUD

Now of course 100% uptake is extremely unlikely. IDSB loan book is $850m so big numbers can be achieved from this demographic. Imo the $43m investment by IOU into IDSB is an extremely good decision and will yield far better results than a cut of the profits, but IOU will take that $4m as well.