I know I said I was going to take a 6 month sabbatical, but popped on to have a read. It gets confusing as I have
@kevin103 on block and it seems almost every other post is responding to him. Anyway, I feel I need to clarify a few things.
@Ryzie you have been a champion on this thread lately and thank you for all your contributions but I just want to clarify about the $1 broker options. No options have been issued. They were supposed to be voted on at the AGM. I have already reached out to IOU and they confirmed there will be no proposition of options being issued because they are too far out of the money. Unfortunately I don't think we will be doing $12 million or better over the December quarter, unless something massive happened in the second half of the quarter. The mid quarter update we received had TTV at $3,189,092.
Hopefully we had strong sales leading up to Christmas but I doubt in the following six weeks we have done close to $9 million. Realistically I am hoping for over $8 million for the quarter.
In regards to IDSB, @mondyinvest quite rightly posted current active accounts as 35,996 as of end of September 2021. That is active accounts. There are close to 50,000 other accounts that have previously had loans with IDSB. This means the pool of "Nirvana" clients as Paul Russell called them is actually over 85,000. Also bear in mind IDSB used to deal with just one bank. In the past year they signed a second bank where they declared they should see their book value double in regards to loans. You can already see the big jump they are making with a 30% increase in active loan accounts from December 2020 to 30th September 2021.
@AICp, I know that article says 600,000 civil servants, but the article says this number excludes armed forces, police, education and health personnel. If you were to include these numbers, the actual civil service total comes to 1.6 million people. There is a huge potential upside still with IDSB. The connections IOU has with other banks could also be a way to introduce them to IDSB, further enhancing the loan book and giving IOU further access to civil servants.
Also bear in mind we have the DBLs coming up end of January or February. RHB Islamic Bank is going for a DBL with Axiata. The thing with these DBL's, you have to offer a lot of different services and not one company can offer this by themselves. RHB is also joined with IDSB in a digital partnership which means we have an in with the DBL if it is granted to them. The strong point is this application is pure Malaysian. A lot of others are part Malay, part Singapore and also other SEA countries, so I feel the application by RHB is a strong one - plus they are a Shariah compliant and were the first to receive an operations licence from the Malaysian Government to run an Islamic Bank https://www.thestar.com.my/business/business-news/2021/06/01/axiata-rhb-bank-to-jointly-bid-for-digital-bank-licence
@MarcEdge101 in regards to the image you posted about the KK Mart stores and the response you posted and subsequent bagging of IOU, maybe you should have asked investor relations some questions about it first. Obviously not holding any stock you wouldn't bother with any such due diligence. Below is the full answer from IOU which to me is very satisfactory in what happened
For those despairing right now at the share price, please bear the following that is coming up in the next month or two. There is a major Fintech conference that runs for a week coming up in Malaysia at the end of January. Expect there to be many announcements over this time. AGM on the 27th where hopefully we can get clarity on some things. Next quarterly figures at end of January and hopefully an updated road map. Chinese New Year start of February. New APP launch. There are lots of things to look forward to. Happy New Year to you all and looking forward to much success for all IOU holders this year.
(20min delay)