Three very interesting pieces of news to consider. As per the...

Three very interesting pieces of news to consider. As per the articles I posted this morning.

1. Fintech is ramping up in Malaysia. Digital payments have been growing at a rapid rate since the pandemic.

2. At the end of 2021 BNPL was estimated to make up .05% of household debt. The BNM has moved to regulate BNPL this year by way of enacting the Consumer Credit Act 2022. The move to regulate BNPL is because the companies that offer the service are non-bank lenders and are seen to be lending money in a grey area of the lending space. Holding a money lending license puts IOU in good stead when regulations come in to play in my opinion.

3. Consumer Credit worthiness has improved since the pandemic began. Consumers in all age demographics have chosen to pay down debt with their Covid stimulus. This has increased individual credit ratings. As per previous quarterly reports, IOU has not had any bad debts to date. This shift was seen as a by product of the loan moratorium. Whether it continues after the moratorium has been lifted is yet to be seen.

With all that being said, IOU is in the right place at the right time. 2022 should see a very strong year of growth for the business.