Posted by kancs3118 > 2020-08-25 13:20 | Report Abuse

Waiting for it to drop even more ...

Posted by kancs3118 > 2020-08-25 17:42 | Report Abuse

Baby baby it is coming down

Posted by denzadesu > 2020-08-25 18:50 | Report Abuse

wow, another chance to collect cheap

Posted by lyy5688 > 2020-08-26 08:03 | Report Abuse

lama saya tunggu di bawah........

Posted by kancs3118 > 2020-08-26 12:04 | Report Abuse

.same here..

Posted by whitebunny > 2020-08-26 15:00 | Report Abuse

Will it drop more when moratorium ends?

Posted by dex > 2020-08-26 15:32 | Report Abuse

Dropppp plz droppp

Posted by Good123 > 2020-08-26 15:52 | Report Abuse

reported Marginal loss for Q2, time to sapu probably

Posted by Good123 > 2020-08-26 15:53 | Report Abuse

digital banking license otw , etc

Posted by Good123 > 2020-08-26 15:53 | Report Abuse

bought few strategic lands at attractive sale price recently

Posted by Good123 > 2020-08-26 15:54 | Report Abuse

it would rebound pretty soon. better to blame missing the boat again

Posted by Good123 > 2020-08-26 15:54 | Report Abuse

buy rate 65%

Posted by Good123 > 2020-08-26 15:55 | Report Abuse

better late than never ...Q4 marginal loss. whole financial year was profitable

Posted by Good123 > 2020-08-26 15:56 | Report Abuse

NAV rm2.32 as at 30.6.20 Lelong price now

Posted by Good123 > 2020-08-26 16:01 | Report Abuse

overall was still profitable. NAV jumped to rm2.32 from rm1.88 :)


SUMMARY OF KEY FINANCIAL INFORMATION
30 Jun 2020

 

INDIVIDUAL PERIOD

CUMULATIVE PERIOD

CURRENT YEAR QUARTER

PRECEDING YEAR
CORRESPONDING
QUARTER

CURRENT YEAR TO DATE

PRECEDING YEAR
CORRESPONDING
PERIOD

30 Jun 2020

30 Jun 2019

30 Jun 2020

30 Jun 2019

$$'000

$$'000

$$'000

$$'000

1Revenue

64,198

216,943

186,313

339,233

2Profit/(loss) before tax

-1,989

35,387

2,274

44,012

3Profit/(loss) for the period

-2,111

24,574

877

29,285

4Profit/(loss) attributable to ordinary equity holders of the parent

-3,701

28,465

463,253

34,630

5Basic earnings/(loss) per share (Subunit)

-0.60

4.69

75.71

5.73

6Proposed/Declared dividend per share (Subunit)

0.00

2.00

29.00

2.00



AS AT END OF CURRENT QUARTER

AS AT PRECEDING FINANCIAL YEAR END

7
Net assets per share attributable to ordinary equity holders of the parent ($$)

2.3200

1.8800

Posted by Victor Yong > 2020-08-26 16:10 | Report Abuse

very attractive pricind indeed now :)

What is next?

Date Open Range Close Change Volume
25/08/2020 0.80 0.785 - 0.80 0.79 -0.02 (2.47%) 587,400
24/08/2020 0.82 0.80 - 0.825 0.81 -0.005 (0.61%) 1,021,700
21/08/2020 0.795 0.795 - 0.83 0.815 +0.02 (2.52%) 1,703,000
19/08/2020 0.755 0.755 - 0.795 0.795 +0.04 (5.30%) 692,800
18/08/2020 0.77 0.755 - 0.775 0.755 -0.015 (1.95%) 1,624,100
17/08/2020 0.755 0.755 - 0.78 0.77 +0.015 (1.99%) 559,400
14/08/2020 0.775 0.755 - 0.775 0.755 -0.02 (2.58%) 1,365,700
13/08/2020 0.78 0.775 - 0.79 0.775 0.00 (0.00%) 1,811,500
12/08/2020 0.785 0.775 - 0.785 0.775 -0.015 (1.90%) 2,115,600
11/08/2020 0.81 0.785 - 0.81 0.79 -0.01 (1.25%) 1,314,700
10/08/2020 0.815 0.80 - 0.815 0.80 -0.015 (1.84%) 1,147,000
07/08/2020 0.82 0.81 - 0.82 0.815 -0.01 (1.21%) 411,700
06/08/2020 0.80 0.795 - 0.835 0.825 +0.025 (3.13%) 768,600
05/08/2020 0.80 0.79 - 0.805 0.80 0.00 (0.00%) 601,400
04/08/2020 0.815 0.79 - 0.815 0.80 -0.01 (1.23%) 1,193,900
03/08/2020 0.83 0.80 - 0.83 0.81 -0.025 (2.99%) 990,300
30/07/2020 0.835 0.83 - 0.835 0.835 0.00 (0.00%) 317,400
29/07/2020 0.84 0.82 - 0.84 0.835 -0.005 (0.60%) 967,000

Posted by Good123 > 2020-08-26 16:18 | Report Abuse

any update on digital banking license would boost the share price

Posted by Good123 > 2020-08-26 16:20 | Report Abuse

very clear the biz segments, prop development, co-working space, education 20% stake left plus Digital banking otw

Posted by Good123 > 2020-08-26 16:21 | Report Abuse

professionally run, no nepotism

Posted by Good123 > 2020-08-26 19:52 | Report Abuse

when traders are tired of ciplak penny stocks, they will move to mid-cap stocks like paramount

Posted by Victor Yong > 2020-08-26 20:48 | Report Abuse

Paramount Property – The people’s developer
Paramount Property has a rich legacy in property development, spanning four decades, and is recognised as one of the most trusted property developers in Malaysia. As the people’s developer, Paramount Property always builds with customers in mind; it is one of the most trusted property developers in Malaysia judging by its repeat buyers and its high customer service ratings.

Paramount Property started with township development four decades ago in Sungai Petani, Kedah, with Taman Patani Jaya and Bandar Laguna Merbok. Paramount Property set industry benchmarks in township design and planning through Bandar Laguna Merbok, Kedah’s first gated and guarded community, winning the prestigious FIABCI-Malaysia Best Residential Development Award 2004, also the first for a property development in the northern region of Malaysia.

Sungai Petani remains a growth area for Paramount Property with its 520-acre hillside, gated and guarded, township of Bukit Banyan, that was launched in 2012. Its 25-acre landscaped hill is open to the public. Bukit Banyan is also home to Wisma Paramount, Paramount Property’s Northern Regional office that has been awarded two green building certificates, by Green Building Index and GreenRE.

Paramount Property achieved a milestone when it acquired 524.7 acres of freehold land in the Klang Valley in June 2003. Its first township Kemuning Utama, today a mature, self-contained township, is also home to Paramount Property’s first high rise development, KU Suites. The township is still growing with the launch of Kemuning Idaman under the SelangorKu initiative.

Paramount Property’s footprint in other parts of the Klang Valley include Sejati Residences in Cyberjaya, a luxury residential development anchored by the iconic and award-winning Chengal House clubhouse, ATWATER in Section 13, Petaling Jaya, which is an integrated high-rise development with multi-generational living facilities, and Greenwoods Salak Perdana in Sepang, a 237-acre township development that offers wide spaces, tranquil park and lush greenery.

Leveraging on its expertise in property development and education businesses, Paramount launched Paramount Utropolis at Glenmarie, Shah Alam, a university metropolis anchored by UOW Malaysia KDU University College campus. The Utropolis Batu Kawan development in Penang is also based on the integrated property and education concept.

This strategy is replicated at Paramount Property’s new development, Berkeley Uptown Klang, which will be an integrated high-rise development anchored by Sri KDU International School.

The success of Sejati Residences has prompted the launch of Sejati Lakeside, a landed freehold residential development fronting a 45-acre lake at Cyberjaya, dubbed the Ultimate Lakeside Living.

Paramount Property has also built commercial and industrial property developments such as Surian Industrial Park in Kota Damansara, and more recently, a boutique industrial development with an urban DNA called Sekitar26 in Shah Alam. Paramount Property headquarters is now situated at Sekitar26 Enterprise.

Today, Paramount Property is an award-winning developer with a diverse portfolio, which comprise townships as well as residential, commercial, retail, educational, industrial, hospitality and integrated developments. Recently, Paramount ventured overseas through the acquisition of an equity stake in a Thai property development company to build Na Reva Charoennakhon, a premium riverside condominium in Bangkok.

Posted by Victor Yong > 2020-08-26 20:48 | Report Abuse

Co-Labs Coworking offers vibrant community-centric coworking spaces, as well as customisable workspace solutions. Co-labs Coworking’s members include freelancers, entrepreneurs, SMEs and multinational corporations, such as ServisHero, Brandlah to name a few. The spaces provide businesses a collaborative and holistic ecosystem to operate in. Members enjoy opportunities to enhance their career, develop personal growth and improve workplace wellness. Always innovating to meet business needs, Co-labs Coworking is now offering the Business Continuity Plan Enterprise Packages for businesses.

Co-labs Coworking started with just over 3,700 sq ft of space in 2016 and has expanded to over 100,000 sq ft of space across five locations in the Klang Valley. It will continue to capitalise on the opportunities brought about by the rising global trends and demand for flexible office solutions.

Posted by Victor Yong > 2020-08-26 20:50 | Report Abuse

August 24, 2020

Paramount records slim profit for 1H2020 from continuing operations
July 16, 2020

Paramount acquires prime ‘Embassy Row’ land in Ampang for RM243.8 million
July 7, 2020

Paramount buys 137 acres to expand best-selling Bukit Banyan
May 29, 2020

Paramount’s record profit from sale of education business cushions Covid-19 impact
February 28, 2020

Paramount FY2019 profit up by 13%
February 20, 2020

Paramount concludes sale of pre-tertiary education business
February 5, 2020

Paramount ventures overseas, buys 49% equity in Thai property developer
January 29, 2020

Ministry of Education says ok to Paramount

Posted by Victor Yong > 2020-08-26 20:52 | Report Abuse

March 4, 2020

Paramount eyes 10 pct overseas revenue as it ventures Thailand, Vietnam and Philippines
March 4, 2020

Paramount maintains RM1b sales target this year
March 3, 2020

Paramount Property eyeing opportunities in Bangkok, Manila and Ho Chi Minh city to expand overseas presence
February 21, 2020

Paramount gets RM569mil from stake sale

Posted by Good123 > 2020-08-27 06:08 | Report Abuse

6M2020 vs 6M2019 Financial Results
6M2020 6M2019 /- %
Continuing
Revenue RM'Mil 186.3 339.2 (152.9) -45%
Profit before tax RM'Mil 2.3 44.0 (41.7) -95%
EBITDA RM'Mil 18.0 55.3 (37.3) -67%
Profit after tax RM'Mil 0.9 29.3 (28.4) -97%
Discontinued
Profit after tax RM'Mil 470.6 13.2 457.4 3465%
Profit for the period RM'Mil 471.5 42.5 429.0 1009%
Profit attributable to ordinary
equity holders of the Company RM'Mil 463.3 34.6 428.7 1239%
Earnings per share Sen 75.71 5.73 69.98 1221%
Dividend per share Sen 29.00 2.00 27.00 1350%
Net asset per share RM 2.32 2.55 (0.23) -9%
Shareholders' funds RM'Mil 1,425.5 1,105.9 319.6 29%
ROE % 40.6 3.3 37.3 1130%
Gearing ratio Times 0.47 0.72 (0.25) -35%

Posted by Good123 > 2020-08-27 06:11 | Report Abuse

RM'000 30/6/2020 31/12/2019 Non-current assets 1,671,928 1,538,447
Current assets 1,034,831 1,535,106
Total assets 2,706,759 3,073,553
Current liabilities 357,285 884,910
Net current assets 677,546 650,196
Non-current liabilities 674,948 724,494
Total liabilities 1,032,233 1,609,404
Total equity 1,674,526 1,464,149
Total equity and liabilities 2,706,759 3,073,553

Posted by Good123 > 2020-08-27 06:12 | Report Abuse

Debt/Equity Ratio
*Included Private Debt Securities of RM249 million (2019: RM249 million)
Gross D/E Ratio = Total Borrowings/Total Equity
Net D/E Ratio = (Total Borrowings-Cash

Posted by Good123 > 2020-08-27 06:13 | Report Abuse

Property Division
• Property sales of 448 units with a sales
value of RM193 million;
• Unbilled sales stood at RM873 million as
at 30 June 2020.
• Unprecedented disruption caused by the
COVID-19 pandemic resulting in lower
construction activities and sales
achieved
Education Division
• The disposal of Paramount’s controlling
equity interests in the pre-tertiary
education business was completed on
20 February 2020 and a gain of
RM460.6 million has been recognised in
1Q2020. Thereafter, the financial results
of this business has been equity
accounted as part of the Group’s profit
after taxation from continuing
operations under the “Investment and
Others” segment as Paramount retains
an effective 20% equity interest in the
pre-tertiary education group.

Posted by Good123 > 2020-08-27 06:14 | Report Abuse

Total Landbank

Posted by Good123 > 2020-08-27 06:15 | Report Abuse

Total Landbank

Posted by Good123 > 2020-08-27 06:18 | Report Abuse

Property
In June 2020, Paramount Property launched Sinaran, the third phase of service apartments at its award winning
Utropolis Batu Kawan development receiving encouraging response thus far. Paramount Property's pipeline launches
for the second half of FY2020 is estimated at RM640 million, comprising entirely of residential properties (including new
phases of existing projects) to capitalise on the home ownership campaign. Although the Group's unbilled sales of
RM873 million as at 30 June 2020 provides some visibility on the Group's cashflow in the near term, the pace at which
this can be converted into billings would depend largely on the construction progress of the projects. Hence, the Group
is reviewing its processes and product designs to allow construction to progress smoothly and efficiently under the new
normal, which is key in generating cashflows and profits to the Group.

Posted by Good123 > 2020-08-27 06:19 | Report Abuse

In line with the Group's strategy of replenishing land bank at strategic locations with strong growth potential and to scale
up its property development activities to generate long term sustainable income, the Group has entered into a sale and
purchase agreement to acquire 137.1 acres of land contiguous to its existing Bukit Banyan development in Sungai
Petani. In addition, the Group has entered into sales and purchase agreements to purchase 4.542 acres of land with
buildings erected thereon for redevelopment that is located at Jalan Ampang Hilir, within the prestigious U-Thant
enclave of Kuala Lumpur City Centre. These land purchases are expected to be completed by end of 2020.
Co-labs Coworking
Co-labs Coworking will be capitalising on opportunities arising from the change in business landscape as a result of the
COVID-19 pandemic. This includes the demand for flexible workplace on a consult, design, build and manage
workspace solutions service that cater to the specific needs of corporates under the new normal and the need for
multiple work locations as part of office redesign, expansion and business continuity plans.

Posted by Good123 > 2020-08-27 06:20 | Report Abuse

Projects developed by subsidiary
companies
Remaining
Gross
Undeveloped
Lands
(Acres)
Remaining
GDV*
(Million)
Development Period
Start End
On going Developments
Kemuning Utama, Shah Alam 26.7 512 2004 2026
Sekitar26, Shah Alam 11.6 609 2013 2026
Bandar Laguna Merbok, Sungai Petani 0.0 5 1996 2018
Utropolis Glenmarie, Shah Alam 0.0 7 2013 2020
Bukit Banyan, Sungai Petani 178.0 474 2012 2027
Sejati Residences, Cyberjaya 10.3 443 2013 2025
Greenwoods, Salak Perdana 141.0 841 2015 2027
Utropolis Batu Kawan, Penang 21.4 2,036 2016 2027
Atwater, Petaling Jaya 0.0 286 2018 2022
Berkeley Uptown, Klang 15.4 675 2019 2028
Sejati Lakeside, Cyberjaya 31.5 406 2019 2023
Total 435.9 6,294

Posted by Good123 > 2020-08-27 06:20 | Report Abuse

Projects developed by subsidiary
companies
Remaining
Gross
Undeveloped
Lands
(Acres)
GDV*
(Million)
Development Period
Start End
Future Projects
Machang Bubuk, Penang 69.2 420 2023 2027
Grand Total 505.1 6,714
* Comprising potential GDV from undeveloped lands and GDV from properties launched but remained unsold as at 30 June 2020
Project developed by associate
company
Remaining
Gross
Undeveloped
Lands
(Acres)
GDV^
(Million)
Development Period
Start End
Na Reva - 78 2020 2023
^ Being the Group’s share of GDV from properties launched by Navarang Charoennakhon Company Limited but remained unsold as at 30
June 2020

Posted by seenyou > 2020-08-27 10:57 | Report Abuse

Just bought more into Paramount. At this point, Paramount now owns 2 of my kidneys.

Posted by denzadesu > 2020-08-27 13:35 | Report Abuse

haha, nice,
next year, you will have extra pair of kidney.

Posted by denzadesu > 2020-08-27 15:46 | Report Abuse

check arbb and homeriz
got potential also

Posted by Good123 > 2020-08-28 09:11 | Report Abuse

seem good to accumulate as digital banking license issuance should be approaching :)

Posted by llc2020 > 2020-08-28 13:48 | Report Abuse

disappointed with this counter. Price continue to drop and no dividend declared

Posted by llc2020 > 2020-08-28 13:49 | Report Abuse

About the digital banking thing.... don't speculate too much.

Posted by denzadesu > 2020-08-28 15:29 | Report Abuse

drop, just collect if want,
cant wait? cutloss

want fast money, hc counter and tech are the best now,

and many penny stock counter, el casino rayale de bursa

Posted by Victor Yong > 2020-08-28 23:26 | Report Abuse

epf did not buy speculative penny stocks. mid-cap stocks like paramount is safer.

Posted by Victor Yong > 2020-08-28 23:40 | Report Abuse

PARAMON Financial Information

Market Capital (RM)
: 476.19m
Number of Share
: 614.44m
EPS (cent)
: 86.69 *
P/E Ratio
: 0.89
ROE (%)
: 37.37
TTM Profit Margin (%)
: 86.9
CAGR - Revenue (%)
: 12.2
CAGR - PAT (%)
: 10.7
Dividend (cent)
: 6.500 ^
Dividend Yield (%)
: 8.39
NTA (RM)
: 2.320
P/B Ratio
: 0.33

Posted by Victor Yong > 2020-08-28 23:42 | Report Abuse

PARAMON Dividend History


Date
Financial
Year
Ex-Date
Entitlement
Date
Payment
Date
Entitlement Type
Dividend
(Cent)
Dividend
(%)
Details
28 Feb 2020
31 Dec 2020
23 Mar 2020
24 Mar 2020
23 Apr 2020
Special Dividend
29.0000
0.00

27 May 2020
31 Dec 2019
08 Jul 2020
09 Jul 2020
23 Jul 2020
Final Dividend
4.5000
0.00

22 Aug 2019
31 Dec 2019
06 Sep 2019
10 Sep 2019
25 Sep 2019
Interim Dividend
2.0000
0.00

29 Apr 2019
31 Dec 2018
19 Jun 2019
20 Jun 2019
04 Jul 2019
Final Dividend
6.0000
0.00

21 Aug 2018
31 Dec 2018
05 Sep 2018
07 Sep 2018
28 Sep 2018
Interim Dividend
2.5000
0.00

27 Apr 2018
31 Dec 2017
18 Jun 2018
20 Jun 2018
04 Jul 2018
Final Dividend
6.0000
0.00

27 Feb 2018
31 Dec 2017
15 Mar 2018
19 Mar 2018
28 Mar 2018
Special Dividend
7.5000
0.00

16 Aug 2017
31 Dec 2017
07 Sep 2017
11 Sep 2017
28 Sep 2017
Interim Dividend
2.5000
0.00

25 Apr 2017
31 Dec 2016
29 May 2017
31 May 2017
15 Jun 2017
Final Dividend
6.0000
0.00

17 Aug 2016
31 Dec 2016
07 Sep 2016
09 Sep 2016
28 Sep 2016
Interim Dividend
2.5000
0.00

28 Apr 2016
31 Dec 2015
30 May 2016
01 Jun 2016
15 Jun 2016
Final Dividend
5.7500
0.00

26 Aug 2015
31 Dec 2015
08 Sep 2015
10 Sep 2015
25 Sep 2015
Interim Dividend
2.5000
0.00

Posted by Good123 > 2020-08-29 00:02 | Report Abuse

Fundaztic Launches Malaysia’s First Peer-to-Peer Financing Secondary Market

by Fintech News Malaysia July 21, 2020

Fundaztic a P2P financing platform operator, has officially rolled out their secondary market. This offers over 20,000 members of Fundaztic the opportunity to trade their existing notes with one another, this allows the, adjust their portfolio strategy and increase their flexibility in the management of their cash flow.

Against the backdrop of the current economic situation, the introduction of the secondary market is especially relevant for investors who may need to sell their notes to meet their cash flow needs and to investors who may want to build broader, more resilient portfolios.



Kristine Ng

“We have been preparing for the secondary market for quite some time now. We were extremely excited when the guidelines for the Secondary Market was announced mid-April and since then, have been working relentlessly to ensure that the system is not only compliant with the guidelines but, highly secured and robust,”

says Kristine Ng, CEO of Fundaztic.

Every member on Fundaztic is eligible to participate in the secondary market. The trading value of the notes on the secondary market will be based on the remaining principal of the notes selected for trading (“seling”). The remaining principal of the Notes selected for “selling” or “transfer of rights” must be at least RM5,000. Investors may select to “sell” either a singular note (e.g. RM5000) or multiple notes (e.g. 50 notes of RM100 each) to be bundled as a portfolio at a premium or discount rate which they decide themselves.

“The reason why such a balance is set is to ensure that the transaction is a meaningful one for both the existing investor and new investor of the Notes based on the premise that the Secondary Market is to provide early exits for emergency funds and for new investors to be able to build a resilient portfolio in a quicker manner which has a direct bearing on risk mitigations as well,”

Kristine further elaborates.

The average tenure of investment notes in Fundaztic is 30 months. This provides the opportunity for investors to sell their notes earlier than the end of the investment tenure, which will result in an increase in liquidity on the platform. With that, investors will potentially be able to earn higher gross yields and better manage their portfolio.

Fundaztic is one of the six P2P financial platforms that was registered as a Recognised Market Operator for P2P financing by the Securities Commission of Malaysia (SC) back in 2017.

The platform went live on 7th July 2017 and have just crossed its 3rd anniversary with disbursements exceeding RM82 million to more than 1000 unique MSMEs providing investors with an average return of investments of about 23% after netting of defaults of less than 4% per annum.

Posted by Good123 > 2020-08-29 00:04 | Report Abuse

How did it all start?

I believe the idea started way back in 2013/14, when our Founder and Chairman Jeffrey Chew chanced upon a Lending Club, at that time the biggest P2P platform in the UK, and he was wondering why this was not in Malaysia. At that time, he was leaving banking to become the Group CEO of Paramount but, being a core banker through and through, he couldn’t pull himself fully away from the industry and he engaged with regulators to find out more about FinTech and peer-to-peer lending. So, even before the regulatory framework was put out, we were already in talks with the regulators trying to tap into their thoughts about this new industry. The breakthrough was in 2015 when the Securities Commission said that yes, they would be regulating the FinTech industry, but they would issue licences first for Equity Crowdfunding (ECF). That’s when we got excited and we thought, ‘OK, ECF is out, surely P2P will be out in a few months!’

On the Fundaztic website, there is a line about the ‘democratisation of financing and investment…’ Can you elaborate?

Democracy is about giving the freedom of decision making to the people and this is really the crux of what crowdfunding is and what Fundaztic has brought to life. When an SME approaches a conventional financial institution, whether they get their funding or not depends on mostly the credit and risk folks. What we do is slightly different. We have built-in an objective evaluation scorecard in the system that does not discriminate SMEs in terms of industry, entity, nor number of years in business. As long as they pass the scorecard and eyeballing process, we will host them. Whether they get their funding or not depends on the crowd (our members).

We have successfully funded businesses such as small cafes, salons and even a funeral service provider, which typically would be rejected by the conventional institutions. The crowd becomes the banker in P2P financing and they decide based on their own risk appetite. And, personally, I want every adult to be a part of this so that, in helping SMEs grow, they build their nest eggs too. I wanted especially for young people to be able to start investing and learning about investing early. That’s why Fundaztic does not collect any deposits for investing and investments can start with just MYR50.

FinTech is still at its nascent stage here in Malaysia. What do you foresee happening in the coming years?

Using human growth as a metaphor, Fintech in Malaysia is perhaps now a toddler. We are growing real fast and as ‘terrible twos’ are, we need to ensure that we continue to grow with proper controls and discipline, as well as governance and compliance to what is expected of the regulators or ‘parents’. If these are well observed, we will be able to drive change and efficiencies as intended, and would not compromise on the trust given by supporters during our growth phase.

As we grow on the trust of and acceptance by the public, we can continue to innovate with new products and processes, which will, perhaps in the next five years, give us the ability to move from being the alternative to mainstream even. In developed countries, we’ve seen the emergence of digital banks and that’s the way I see where we are headed since all our processes are online already and, as we speak, we are working on more innovations, such as the secondary market, which allows trading of Notes for early exits when needed.

Posted by Good123 > 2020-08-29 00:06 | Report Abuse

Fundaztic has a paid-up capital of RM15.5 million and is founded by a lawyer and a group of ex-bankers, including Jeffrey Chew, the non-executive chairman of the company.

Chew began his career at PricewaterhouseCoopers and thereafter, joined Citibank. He was also formerly a director and CEO of OCBC Bank (M) Bhd, and now heads Paramount Corp Bhd as group CEO.

Ng acknowledges that the capital protection fund of Principal Protect will come from company funds as insurance companies are not willing to provide such a credit guarantee at present, even though they consider it “an interesting concept”.

Even so, Fundaztic is confident that a portfolio of 100 notes is very resilient and is thus offering capital protection to its investors.

“Our stress test clearly shows that no investor who has at least 100 notes is close to losing any money. In fact, most of them are making close to three or four times the FD (fixed deposit) rates,” says Ng.

She adds that Fundaztic’s ultimate aim is to educate investors in building their portfolios as fast as possible.

“We find that a lot of young investors, some of them will just invest in one note and then they will start praying that nothing goes wrong. Some of them stop at 20 notes. But to us, that is not resilient enough,” Ng asserts, adding that Fundaztic’s mechanism of capital protection is seamless.

“Unlike insurance, you don’t have to submit claims. At the end of each month, our system will pull out reports to show the investors who have negative net safety margin, which represents the amount of money you can afford to lose before your capital is impacted — in other words, your breakeven point,” she explains.

“When we see a negative, the system will identify whether it is caused by any of the notes within the portfolio that is guaranteed. If it is caused by that, by the 10th working day of the following month, we will pump back the money to you and you will see it as available balance. You can reinvest or even withdraw it if you want.”

Posted by Good123 > 2020-08-29 06:47 | Report Abuse

Digital banking licence scene heating up

BANKING

Saturday, 07 Mar 2020

By YVONNE TAN

Posted by Good123 > 2020-08-29 06:53 | Report Abuse

Interest in digital banking picks up amid Covid-19 | KLSE Screener

23 May 2020 · RAM Ratings Sophia Lee: We do not expect digital banks to ... Razer Pay, BigPay, Axiata Group, property firm Paramount Corp Bhd and ...

https://themalaysianreserve.com › co...

Covid-19 accelerates digital banking interest - The Malaysian Reserve

1 Jun 2020 · “One key narrative that is paramount for applicants to consider is how the value proposition of its business provides for empathy in the ...

You visited this page on 8/11/20.

https://thepeak.com.my › people › t...

This Is How Paramount Corporation's Group CEO Jeffrey Chew Is Preparing ...

9 Jan 2020 · Paramount Corporation's Group CEO outlines how the company is ... Jeffrey Chew left a highly successful career in banking to take up  ...

You visited this page on 8/28/20.

Posted by Good123 > 2020-08-29 06:54 | Report Abuse

https://themalaysianreserve.com › co...

Covid-19 accelerates digital banking interest - The Malaysian Reserve

1 Jun 2020 · “One key narrative that is paramount for applicants to consider is how the value proposition of its business provides for empathy in the