$1 Club, page-28583

That's quite right 612. Uncontrolled growth is exactly how cancer starts. I actually really like the way IOU management haven't just copied what every other BNPL provider has done. Everything so far has been very strategic and rather impressive. Economic insight into how Malaysia works has been a key strength.

I feel the first place to expand will be Indonesia because of the existing iSentric operations in the country. It's going to be a much more difficult market to break into though in my opinion. The Singapore government has openly stated that BNPL is only a small concern and there's no need to regulate it as yet. This leads back to the uncontrolled growth again though so perhaps the Singapore market will become extremely flooded.

Interesting to see how management do proceed with expansion when the business is ready. For now though, the focus on Malaysia has been a smart move in my opinion.