Yes I am of similar thinking to your comments. Thanks Stig. I...

Yes I am of similar thinking to your comments. Thanks Stig. I know they are on track and a profit now would be the obvious 'belier' of the current sp.

To be honest 4C are not accounts - not statutory accounts. They are there to pass on significant statements of operation and cash flow, but are no way near the statutory accounts of half year and full year.

So we really do have to wait. If we can sense down the track that their bad debts are much lower than other bigger BNPLs (factoring?). And if profit per transaction is positive (this I am thinking is quite a lower mix of costs and rising transaction numbers that deliver postive earnings etc.) then longer term minimal funding will be required and this type of info will have us a rising sp. Quality over quantity so to speak, but this would be clearly world's best BNPL practice. Then, I would think these breakdowns, absolutely conformed to, deliver SEA to us.

My last thought: who are IOU's customer here. With banks and credit cards, the wealthy see that such a small amount of bank credit removes much of the difficulties of day to day life. Afterall it is not their money. With recently developing countries like in SEA, it is the next level down that require easier access to funds. Islamic Malaysia does not focus on credit cards and the next best seems to be savings, such is the gap from the rich. BNPL fulfills this nicely (a VIP reason in favour of IOU IMO) but more to the point IOU seem to think it super important to select customer who will not default to bad debt stage. The I-Destinasi Malaysian Finance Company present a much needed, select listing of customers who are on the way to the low rungs of the rich class. So IOU, IMHO, think that such selection may be a BNPL key to success.