Neal Cross has actually left Picture Wealth, certainly from a managerial perspective, that is, but he may still retain equity.
The things I like about the loan business are that 1) there are great margins, 2) there is big unmet demand in the Philippines for finance and 3) it will enable bizmoto to leaverage the co-op connection and build a business that MASS-SPECC will have no control over.
I don't want MASS-SPECC choosing down the track to go it alone, as the banks did. A viable and popular loan business will encourage them to stay with PIL.
The non-performing loans disclosed in n the June 30 Annual Report were pretty bad, so if AI can help to make the loan business profitable then I'm all in favour of them expanding their capabilities in that area without delay.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)