Ann: CI1 Acquires Fintech YOZO Finance, page-87

I just took a small position with this positive news. The acquisition of Yozo seems to have complementary benefits and synergies among the various businesses, especially the lending businesses.

As much as some may be partial to the Singapore lending businesses, it brings the bacon home for CI1, raking in more than 50% of group profits and providing positive cash flow. The stellar profit reported by the lending businesses has propelled and underpinned CI1 share price by more than 100% since announced. Kudos to Jimmie for finding 2 such gems in Singapore and also to the management of the lending units in achieving these great results.

Hopefully with this new fintech acquisition, CI1 can integrate and bring further profits but fintech will need sizable funding and a presumably long gestation period. Meanwhile, let’s see if Jimmie can continue with the big lending growth profit this half year and beyond. This will determine whether Jimmie is just a one hit wonder or we are really off to the races with this one!