Posted by Good123 > 2020-08-19 14:01 | Report Abuse

the current CEO is the ex-CEO of OCBC bank Dan founder of one of P2P finatech companies in malaysia. A digital bank will create synergy with its education segment and property development segment also. great synergy plus its co-working space segment is mainly used entrepreneurs, also needs financing and banking services.

Posted by kancs3118 > 2020-08-19 14:04 | Report Abuse

How does the synergy between the digital banking business and it's property division is going to play out ? I cannot understand this portion ...

Posted by Good123 > 2020-08-19 14:16 | Report Abuse

a lot of Property buyers were unable to obtain mortgage loan from traditional banks. if own a digital Bank, easier to grant mortgage loan as they know the property involved well, etc

Posted by Good123 > 2020-08-19 14:22 | Report Abuse

I think, property companies might allow trade in properties for buying new houses soon like car sellers. a digital bank would definitely help in Financing new houses or used houses for all the buyers, great synergy

Posted by kancs3118 > 2020-08-19 14:22 | Report Abuse

But whether Paramount has got this balance sheet liquidity to offer a loan to the buyers ? Now, you wanna be the financier and the developer ... Not easy leh....

Posted by Good123 > 2020-08-19 14:23 | Report Abuse

even its clients of co-working space mainly entrepreneurs could borrow to buy houses, shoplots, etc too

Posted by Good123 > 2020-08-19 14:24 | Report Abuse

they will create a new subsidiary with new investors probably if need more liquidity

Posted by Good123 > 2020-08-19 14:25 | Report Abuse

they could just hold 51% of the digital bank, 49% offered to other investors. all things are possible

Posted by Good123 > 2020-08-19 14:27 | Report Abuse

don't worry about money for the digital bank, the CEO, the ex-CEO of OCBC bank plus founder of a P2P fintech company should know what to do, he is a money man :)

Posted by Good123 > 2020-08-19 14:36 | Report Abuse

the CEO could invite his ex-employer, OCBC as a major investor of the digital bank, nothing is impossible

Posted by Good123 > 2020-08-19 15:07 | Report Abuse

digital bank: education - loans to parents

Posted by Good123 > 2020-08-19 15:31 | Report Abuse

uptrend now.investora finally saw its potential

Posted by Good123 > 2020-08-19 15:32 | Report Abuse

buy rate suddenly surged to 66%

Posted by Victor Yong > 2020-08-19 15:40 | Report Abuse

BNM might expedite the digital banking licence to stimulate the banking industry and the malaysian economy. fingers crossed.

VIRTUAL BANKING
How Will Virtual Banks Shape the Way Malaysians Bank
by Fintech News Malaysia July 2, 2020
As consumers behaviors shift to becoming increasingly digital, the financial services industry is forced to cater to changing nature of its customers. Regulators are also taking notice of the shift and gaps within the system and as a result, started issuing new guidelines for virtual banks.

Similarly in Malaysia, Bank Negara recently announced a draft framework where they are looking at issuing 5 virtual banking licenses.

To discuss this changing landscape we were joined by Khairil Abdullah, CEO Axiata Digital, Navin Rajagopalan, Co-Founder, BigPay, Anand Subbaraman, General Manager, Retail Banking, Finastra, and Marcus Von Engel, Partner, Malaysia, Financial Services Consulting Leader, PwC.

We sat down to discuss the many ways virtual banks would affect the way Malaysians interact with their bank.

The effect of MCO on virtual banking
Khairil from Axiata Digital tells us that the number of physical payments has drastically reduced during the MCO. Non-essential businesses have closed and consumption has decreased by 48%. Their e-wallet platform Boost has seen lower revenues due to the decline of in-store payments, however, their lending platform Apsirasi has actually been growing thanks to its micro-payments and micro-insurance launch. Khairil explains they’re seeing a mixed bag of growth and decline.

Navin is confident that SE Asia will bounce back faster than the rest of the world, and Marcus says that one should not let a crisis go to waste; there is still a tremendous amount of opportunity within Malaysia. According to Marcus, their recent PwC study indicated that there are three main reasons Malaysia offers a lot of opportunities to virtual banks:

Malaysians are the most likely to go digital
They are open to sharing confidential information
They are ready to switch banks.
Having said that, Anand from Finastra does believe fintech post-pandemic will be different: there will be new patterns, people may not be so keen to travel and consumption may not bounce back as quickly as expected. So far, it’s hard to tell in what way the MCO has impacted the way Malaysians bank.

The gaps filled by virtual banking
The issue with incumbent banks is that a large segment of the population is left underserved and underbanked. Most customers don’t have anything beyond a savings account, implying a lack of engagement and financial inclusion. Khairil believes that virtual banking will work as a bridge to the unbanked and could also help consumers invest, budget, or save better.

Digital banking encourages both individuals and SMEs to rethink the relationship they have with their bank and look for alternatives that are more fitting. For example, eKYC technology means individuals can open a bank account with just a mobile phone and identification documents – no need to head to a branch.

By including education and training into a financial product, fintechs can cater to a much larger segment of the population. Virtual banks will lead the way to financial inclusion, and as Marcus says, this may also encourage Malaysian incumbents to change. This is already apparent in Hong Kong, where banks are removing fees and multi-currency cards. Virtual banks will not only shape consumer habits, but also traditional banking habits.

Addressing the non-digitally native
We’ve established that virtual banks will serve as a guide to the underbanked population, and will encourage Malaysians to have a stronger relationship with their bank. But what about those that do not interact with digital on a day to day basis? Can virtual banks bridge that gap?

With COVID-19, the baby boomer population and non-digitally savvy have been forced to adapt and build digital skills. Mom and pop stores and street hawker vendors are having to move away from cash and look towards contactless options due to health and safety reasons. Covid has accelerated this trend towards digital adoption, with boomers learning how to order online, accept digital payments and pay with a phone. In order to cater to this population, banks need to reimagine consumers’ financial experiences and consider untraditional consumer engagement routes.

Anand makes the point that in order for non-digital natives to adopt digital technologies, virtual banks need to focus on an incredibly simple user experience. Marcus quotes a PwC survey that states that the over-55 population is more likely to switch banks since they are retired and may not have a strong relationship with their bank. This offers a huge opportunity for Fintechs to educate retirees and offer incentives to switch.

On financial inclusion, Navin explains that being educated does not mean being financially literate. Translating an app from English to Bahasa does not fix the fundamental problem

Posted by Good123 > 2020-08-19 15:53 | Report Abuse

wow, it has risen by 3.5sen to 79sen now, otw to break 80sen

Posted by Good123 > 2020-08-19 15:57 | Report Abuse

overall market was red, this one is green till now . luar biasa

Posted by Good123 > 2020-08-19 16:25 | Report Abuse

touched 79.5, now at 66% buy rate.

Posted by Good123 > 2020-08-19 16:26 | Report Abuse

buy rate jumped to 68%

Posted by Good123 > 2020-08-19 16:38 | Report Abuse

can go very far jika Ada group Beli dengan rigorous

Posted by Good123 > 2020-08-19 16:42 | Report Abuse

market cap ~rm482mil, could be privatised also

Posted by Good123 > 2020-08-19 16:43 | Report Abuse

net assets per share~ RM 2.61, share price below 80sen

Posted by Good123 > 2020-08-19 16:54 | Report Abuse

up 4sen, buy rate 70%. tomorrow, more action probably

Posted by Good123 > 2020-08-19 16:59 | Report Abuse

overall market merah, up 4sen, esok, if overall market hijau, up lagi tinggi kot? :)

Posted by Good123 > 2020-08-19 23:00 | Report Abuse

probably above 80sen tomorrow, fingers crossed

Posted by MrRightMrLeft > 2020-08-20 10:03 | Report Abuse

U mean today ka Good123?
No trade ma..public holiday
Hehe...

Posted by Glucifer > 2020-08-20 11:33 | Report Abuse

Good123 is very loyal and dedicated himself for 1724...Good to have him as shareholder fellows...lol

Posted by Glucifer > 2020-08-20 11:55 | Report Abuse

Every day up a 0.04 and get back to MYR0.9X soon...

Posted by Good123 > 2020-08-20 16:32 | Report Abuse

In a July 28 note, MIDF Research says it expects the outlook for new property sales to improve gradually in the second half of the year, thanks to incentives offered under the Short-Term Economic Recovery Plan (Penjana). “We expect the incentives to stimulate buying interest and support new property sales.”

Data from the National Property Information Centre (Napic) shows that unsold completed residential units in Malaysia eased for four consecutive quarters, from 2Q2019 to 1Q2020. The number of unsold completed residential units stood at 29,698, down 3.2% quarter on quarter and 9.8% year on year.

Posted by MrRightMrLeft > 2020-08-20 18:35 | Report Abuse

Property would b next year theme play

Posted by Good123 > 2020-08-21 08:27 | Report Abuse



Australian S

Posted by Good123 > 2020-08-21 08:34 | Report Abuse

digital banking license would create sentiment/momentum for paramount later

Posted by Good123 > 2020-08-21 09:11 | Report Abuse

uptrend , strong rebound started. better late than never

Posted by Good123 > 2020-08-21 09:14 | Report Abuse

hopefully share buyback also has started

Posted by Good123 > 2020-08-21 09:28 | Report Abuse

the rise is steady, jumped 3 Sen already, Wednesday jumped 4sen. the uptrend continues

Posted by Good123 > 2020-08-21 09:45 | Report Abuse

uptrend just started since Wednesday. more good things to come probably

Posted by Good123 > 2020-08-21 09:49 | Report Abuse

probably between 85-90sen by 5pm today :)

Posted by hongchungtang1 > 2020-08-21 09:58 | Report Abuse

next week will announce quarterly report, maybe the result is good, so share price go up

Posted by Good123 > 2020-08-21 10:09 | Report Abuse

good move, focus on the rich locals and foreigners, least affected.

Paramount is acquiring two plots of land near Kuala Lumpur City Centre (KLCC) from two subsidiaries of Wing Tai Holdings Ltd for RM243.8 million in cash.

The group said it intends to re-develop both sites into a premium high-rise residential development comprising about 650 units of condominiums, with an estimated gross development value of RM863mil.

Posted by Good123 > 2020-08-21 10:10 | Report Abuse

cash rich, paramount, buy land, pay cash :)

Posted by Good123 > 2020-08-21 10:12 | Report Abuse

traders exit with 1/2-1sen trading gain, investors replace traders :)

Posted by hongchungtang1 > 2020-08-21 14:24 | Report Abuse

Good 123, do you know where is the location of these two plots of land?

Posted by kancs3118 > 2020-08-21 17:02 | Report Abuse

@ Good123, I believe they pay cash because it is expected the digestion period for such a high end property will run somewhere between 4 to 5 years.

Posted by Glucifer > 2020-08-21 20:41 | Report Abuse

@hongchungtang1, if I am right then the two plots of land is close to Embassy areas...Kinda regret I didn't buy more at 0.7x level

Posted by denzadesu > 2020-08-22 20:50 | Report Abuse

property sector engine started,
1 of best counter in property sector,
better park some capital here.

Posted by warrior > 2020-08-24 04:15 | Report Abuse

More than 10% of my portfolio value invested in Paramount

Posted by warrior > 2020-08-24 04:18 | Report Abuse

Good returns from last two trading days. From paper loss to paper gain. Average cost below 78 sen

Posted by ckaiw04 > 2020-08-24 18:12 | Report Abuse

Qr gg, first time making loss.

Posted by poorman123 > 2020-08-24 18:17 | Report Abuse

Average QR, hope drop a bit let me collect

Posted by pinnaclegrade > 2020-08-24 18:22 | Report Abuse

covid affects most businesses, no sales gallery can be opened during MCO, construction delayed. Once covid is over, business will get better.. the sale of the education arm, would help Paramount to weather the storm

Posted by Glucifer > 2020-08-25 00:06 | Report Abuse

Guys, I see a lost making in 2Q2020 QR for Paramount. However, I feel all right under this tough condition. Perhaps, they let go of their education business at the right timing, they have more cash on hand and reducing in liability is making the financial status look better in general. Comparing with others short-term lost making companies, Paramount looks quite Lengzai!