@jonhan said in Progress/success thread for crowdfund talks:
@pot-folio it’s my target investment hurdle rate. If less than that, I can just put money in REIT. Singapore REIT yields are now 6-7% actually.
@jomni 6-7% after factoring in the risk of no payment? or before?
@sean-fs Old topic - but i think it's important to re-highlight. This creates a moral hazard problem - if it's a data protection issue, then perhaps you should build in a waiver at the onset. This waiver would require the borrower, in event of default, to consent to disclosing certain details about the borrower to prevent people from coming back (e.g. payment history and anonymised borrower id). Default should have consequences.
@antoniomc27 Hey @antoniomc27! That's golden feedback 🙌
On moderators' revision of hashtags -- we have actually tried that on numerous posts! But now that we know that hashtags can be good use too, it's something we can definitely double down on.
Expanding on hashtag limits would be challenging though, but an immediate workaround could be for compilation posts like these (1, 2). Or new categories altogether as you kick-started sometime back :-)
Thanks for sharing your thoughts as always!
In the spirit of sharing...The CoAssets Team (lead by Huiming) recently wrote an article on companies that were listed on the MAS Investor Alert List. :-)
Want to know what happens to a company after it gets on the list? Wondering how many of them actually shuts down? Curious to find out how many of the companies on IAL are locally incorporated and how many are from abroad?
Read this article to find out more ✌🏻✌🏻✌🏻
Hey @antoniomc27, @chictrader, @Jordy, @ZephyrLoh, @ERIC-THE-RED, @k555, @EngLang-Thai, @jomni, @horkh, @arigatomon, @kfcloh, @racingcar, @rahulsk1947, @Ng-Seng-He, and everyone who’s following this thread, we’re sorry for the delay in response -- the team has been seriously considering the different perspectives you’ve contributed, alongside regulations in both jurisdictions (Singapore & Malaysia), as well as the viability of the forum (keeping in mind its publicness and cross-border nature).
Funding Societies’ (FS) fact sheets are anonymised, in that issuers’ names (name of business, names of personal guarantors) are omitted. Numerous investors had genuine concerns regarding this decision, which led to us elaborating in a previous post, the rationale and considerations in omitting these names.
Another piece of the puzzle -- is that even with anonymised fact sheets, it is still highly (and almost easily) possible that information from these documents, which is available only to users with an account on the platform, could potentially reveal the identity of a borrower, via triangulation. A simplified illustration could involve a situation in which you take up a loan from your local bank. The bank, armed with your personal data and credit reports, then publishes your identity as “the third son of the owner of an established property developer, with 92 employees” on their public website. Your name as well as the name of your father’s company is then omitted. In this case, even though your identity was anonymised, it is highly possible for many to triangulate data points to piece your identity with some effort.
Revisiting also what @ERIC-THE-RED shared, from our existing Rules & Regulations: “As part of investors' contracts with borrowers of Business Term Loans or Invoice Financing, you may not reveal any information which may identify the parties involved”, we realise that these may not have been conveyed explicitly:
Only upon signing this contract, can a registered investor (on either Singapore or Malaysia) have access to notes or fact sheets (not just anyone on CrowdFund Talks, which is a free-for-all, open community which non-qualified investors are also allowed access to)
"Information which may identify the parties involved” is defined as: Data / information / screenshots which can be traced to originate from a fact sheet (including through paraphrasing of existing data or information)
To uphold consistency, this restriction shall not be limited to FS’ notes, but also be applied to information which reveals the names of issuers of other P2P platforms based in either Malaysia or Singapore. To date, we have also moderated posts containing the explicit naming of issuers of another P2P platform.
We invite the different P2P platforms to chime in with thoughts to this discussion too!
That being said, we understand how important it is to investors to make informed decisions (fact-based, rational, specific), and that investors hold dear the depth of discussion that they can engage in with fellow investors in the same boat, here on CrowdFund Talks. We’ll do our best to not stifle discussion and learning, while balancing the risks involved in identity leakages. Rest assured too, that we’ll not ban any user for sharing such information (unless repeated & deliberate) -- it’ll be more likely for users who've done so to receive a ping from us and possibly a suggestion on amendments to the post.
Directly from the Funding Societies team, here are some measures we have for you in the pipeline:
While we limit the explicit sharing of fact sheets on this public forum where more broad and theoretical questions may take place, we continue remaining open to your questions which are more specific and technical, but do direct questions involving a specific note and its fact sheet, to our Live Chat, or via Email!
We will also stay focused on taking in your feedback, for further improvement on our fact sheets, like we did for Malaysian investors with our new fact sheet iteration.
Events / meetups which would include segments on deepening the understanding of fact sheets FS publishes, our credit underwriting processes, breakdown document collection and assessments, and opportunities allowing investors to learn from each other in a non-public space.
We thank everyone in the community for sharing your views, and for waiting for us patiently. Your understanding is important to us, so feel free to leave any trailing questions here, we’d be happy to address them!
We’ll remain open to feedback, suggestions and ideas as always.
Thanks everyone for your thoughts & poll responses! Do feel free to further suggest what we (CrowdFund Talks team) could work on to make this a more exciting and encouraging place to share our thoughts.
Hey @Kc-Lim ,
The time between a late repayment and a loan going into default is 60 (Invoice Financing) or 90 (Term Loans) days depending on the product.
Therefore no default does not mean a 100% repayment rate as there could also be late repayments that have not reached the defaulted stage.
Same as above, this is due to the repayments that are late but not yet defaulted.
This post by @bursagoinglong would explain more:
Also, we have our help centre article that also describes it in the same way: