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Investment P2P financing, A place to talk about P2P financing

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vincabby
post Dec 14 2017, 08:34 AM

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anyone actually get delayed or no payments back before? i am new to this so still have the newbie nervous ticks.
vincabby
post Feb 13 2018, 02:51 PM

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QUOTE(windvind @ Feb 13 2018, 01:01 PM)
Dear,

The issuer (Issuer ID - 59401) has proactively reached out to us to request an extension on note MBBT-18010014.

The Issuer explained that an unexpected delay in payment (RM8.1 MM) from one of their customers (a government agency) will not make it possible for them to repay the note in full on the due date. The restructuring of this note is not an indication that the company is in any financial trouble.

We confirmed with the Issuer that the delay in payment is due to a system glitch in the government agency’s payment system. The system was reportedly down since 8 February 2018 and will be restored in stages. However, the system is still down as of today. The Issuer was informed by the person in charge that the payment to them will be delayed as a result.

Given such, we’ve worked with them to restructure the note from 1-month tenor to 2-month tenor, as they’ve taken the initiative to inform us beforehand. Their repayments have been prompt on the other 9 previous financing applications with us.


What this means for you

Investment code MBBT-18010014 will be marked as ‘Completed’, with no repayment. We will create a new code MBBT-18020009. Both will be reflected in your portfolio by 21 Feb 2018.

We will be honouring 1-month service fees at 0.16% instead of 0.33% for 2 month tenor. This will enable investors to earn higher returns from the restructuring.

Current investment note: MBBT-18010014
Financing amount: RM1.4 MM
Tenor: 1 month
Repayment due date: 22 Feb 2018
Simple interest: 10.5% p.a.
Net return to you after service fees: 8.56% p.a.

Restructured note: MBBT-18020009
Financing amount: RM1.4 MM
Tenor: 2 months (bullet repayment at end of 2 months)
Repayment due date: 22 March 2018
Simple interest: 10.5% p.a.
Net return to you after service fees: 9.52% p.a, increase of 0.96% p.a.
We will continue monitoring this case closely. If you have any questions, please feel free to reach out to us.

Warm regards,
Team Funding Societies Malaysia
I received this email today. Anyone had similar experiences before with FS before?
I had invested with this borrower 2 times prior to this, without any issues.
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ya. got this email too. nothing but wait and see
vincabby
post Mar 26 2018, 12:29 PM

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darn it.. i came in too early. no offer. cis
vincabby
post Apr 18 2018, 12:51 PM

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Senior Member
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noawadays the papers dont even last hours. masuk, finish, masuk finish. suddenly everyone so chillax about it. no risk default talk.
vincabby
post Jul 20 2018, 11:18 AM

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i would put some caution to this wind of crazy buying when it comes to p2p lending. when the demand way exceeds supply, they might consider some other invoices with lesser capablility to pay back just to make sure the supply is there. do note some of the new ones are stacking on each other which to me seems pretty risky. so do take a step back and give it a bit of thought.
vincabby
post Aug 8 2018, 11:24 AM

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wonder wat the comment is now for that one person who said default percentage is very low. Well, if you tak kena, then it's low but when you kena it hurts doesnt it?
vincabby
post Aug 8 2018, 11:42 AM

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QUOTE(Ancient-XinG- @ Aug 8 2018, 11:38 AM)
to sustain at least 1 k per month....

1 need to spread at least 100 notes with each note 100myr. given that at least 10% er, 26 months tenure.

spreading so much but you need to fork out 10k....

btw is my calculation correct. or we need 1000 notes.
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should be right but calculation too wacky. that is really well diversified but some of the notes are same companies, and using that to pay back notes before.

 

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