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I think so. They open at 9PM EST, but they wouldn't do a PR until morning.
The banks reopened today, Tuesday. The real deal will be the MT760.
"BKCHSGSG XXX" Just show me that, and I'm happy.
This was from the Wahana PR
"KinerjaPay's use of proceeds are to fund the Company's peer-to-peer lending operations, potential acquisitions and strategic investments in the Company's home-based region as part of their expansion plan for 2019. The Company also plans to allocate a certain portion of the subscription proceeds to repurchase KinerjaPay's stock in the open market, subject to the rules and regulations of the SEC."
He didn't say it was contingent upon a p2p license, but he sure did say what they planned on using it for.
That gap of time until the February 23rd gives Edwin time to pay off the upcoming convertibles, and do a buy back. That would help with the Auctus shares hitting the market.
This guy may be last guy standing. Imagine that, last convertible from KPAY. He should just frame it on his wall instead.
Auctus was the company with the convertible.
100% it's them. The note from 7-31-19. Exactly 180 days was 1-27-20.
$200,000 which he could convert at the lowest price from the prior 20 days before he converted, or 60% of the lowest price from the prior 20 days.
So if it's true he converted at a penny for 18 million shares. He is holding a pretty big lottery ticket.
He is only one left to convert until February 23rd, so he has time.
If he has 15 mil left, he can covert now for around $420,000.
Or wait for confirmation of a swift mt760 with a copy of a deposit slip in the next 10 days. At which point I think we go immediately up to minimum $.20. That was our high on the Gabriel announcement day.
At which point he could cash out for $3,000,000
Or wait until February 26th, the day before the next guy can covert, share price would be even higher, then get out.
At some point you have to turn the page. New company. Everything from the start of 2019 in Edwins mind was based on him thinking he was going to have a p2p permit. They issued a PR on 9-13-2018 that they were launching KFUND. He picked a hell of a time to launch a p2p business. The AFPI was created, along with a new registration process, and he had to play by the new rules.
If he would have started in early 2018, they could have been grandfathered in under the old process.
The timing of the Wahana deal lined up with them receiving a permit in early 2019. Whether Wahana could never get their collateral monetized, or walked away because no p2p permit, we'll probably never know. It would make more sense to me that an investor would pour that kind of money into a cash making machine like p2p, than an ecommerce and prepaid mobile business.
You got the PR about Gabriel on 10-23-19. Which we heard hasn't died yet. I did as much looking into Gabriel as possible. I think I have a good idea where their money was coming from, but it would be a guess. We heard shortly after that the p2p was on its way. Probably the same reason Gabriel was interested.
Now Infinity. We have a permit. They are offering $30 mil to cover the bank guarantee. If you notice, which I'm sure you didn't, Edwin had to sweeten the pot. The share price since Gabriel has dropped big time. Your asking someone to hold on to convert at $1.80. He had to increase the interest to 7% from the 6% offered to Wahana and Gabriel.
I understand anyone that has bailed. This is about as big of a speculative pick you can make. I've "only" been in for almost 2 years. The p2p is why I didn't bail.
The info on loans disbursed on the website.
It will be back up, because it's required. My guess is this first week live is considered part of the test period. So we should see it back up pretty quick.
This was part of the OJK transparency requirements passed last summer.
This article explains most of it:
https://en.tempo.co/read/1216559/ojk-to-oblige-fintech-companies-to-disclose-disbursed-loans
Congrats! There will probably be a little profit taking here and there until next PR, but hold on after that. Edwin still has something to prove before the floodgates open.
If Akseleran is targeting $146 mil in loans this year, with their total funding at $12.85 mil. Would it be too much to ask for maybe $24mil-$30mil from KFUND in year one? We're getting a little bit of a late start, but $22.5mil in funding to start gives us some fuel.
Build the staff. Hit up the companies, the markets, the farmers, the millennials. I would pull everyone off of e-commerece and devote 100% to KFUND. You don't need anything else. Focus your energy where there is the most to gain.
There is "only" $60 billion left of the pie according to the AFPI last week. Even if you don't take other companies customers, and just go after the untapped market, the potential for growth is HUGE!
TIMBER!!!! ONLY UP 103.63%
It's never to late to get a piece of KFUND. Were only just getting started.
Are you a venture capitalist with a million dollars to invest?
If not, you have no shot at investing in the p2p market in Indonesia besides KPAY.
Welcome aboard!
Nothing like a 75% gain when market is tanking.
Too bad there is no reverse split coming.
There is a share buyback though if your interested.
So what does $22.5 million get you?
Might as well dream big.
Akseleran got their p2p up and running in October 2017. By June of 2018 they had disbursed $4.6 mil in loans. By September 2018 loans disbursed had totaled $7.7 mil. Did I mention they were doing this with $1.85 mil in pre-series A funding from June 2018.
Enter 2019, in February they received $2.5 mil in funding. In September they received $8.5 mil in funding.
Here is an article from last week:https://www.mime.asia/akseleran-pursues-profitability-in-2021-after-achieving-series-a-funding-from-beenext/
"Since it was first established in 2017, Akseleran has disbursed loans totaling more than Rp966 billion. Where Rp706 billion of which was distributed throughout 2019. This year, the Akseleran is targeting to channel loans to Rp2 trillion."
That translate for 2019 to $51,869,820 USD
With a projection for 2020 of $146,940,000 USD
All that from total funding of $12.85 mil in 2 years.
In Indonesia the official holiday was Saturday. For Singapore, its Sunday and Monday.
those are maturity dates, proving again how clueless you are
the notes convert after 180 days, not on the maturity date.
I see your point, but there was already a big one earlier this month, and we didn't get a PR then. So if he wanted to time it, he could have done it on the 8th. Or on December 28th. Instead we got a 14C. He doesn't always coordinate a hit with a PR.
Doesn't concern me in the least.
A start-up business that has the potential to make that in one month. Were not selling prepaid mobile cards anymore.
Time to wake up.
The numbers on paying off the convertibles, and share buy back.
So going out on limb here, thinking 3rd time is a charm, and funding arrives in their account. Here is what were looking at.
There is one note left from July 31st that will hit this week for $200,000.
February, believe it or not, February was going to be the best month for lack of convertibles we've seen in a long time. Only 2 for a total of $192,500.
The total for the rest that we know about from the last 10Q, which would have been dated through October 2019 total $1,563,453.
You would have the unseen notes from November and December, and probably a couple from this January. So I'm going to estimate $400,000 for each of November and December, and $250,000 for January.
So there is probably around $2,805,953 in notes outstanding, I'm not including the one for this week, because he wont have time to buy it back.
So if they get the first $7.5 mil, you basically become debt-free. I can break down their liabilities on their balance sheet if you want. But trust me, all their debt is in the shares.
The share buy back. Edwin should not hesitate. Buy back minimum half of the outstanding shares. It's around 103 million. 50 million at even $.05 costs you $2.5 mil. He needs to take advantage of the share price while he can for maximum effect.
$3,000,000 pay of debt
$2,500,000 buy back
Leaves you $2,000,000 for marketing for month 1 (February)
Get the next $7,500,000 in March, and we have a profitable company.
Here is the language in OJK NUMBER 77 /POJK.01/2016:
This is from Chapter X (10) called "BAN" which probably translates to "prohibited"
Article 43, which starts on page 26
CHAPTER X
BAN
Article 43
In carrying out business activities, the Organizer
banned:
a. conduct business activities other than business activities
The organizers stipulated in this OJK regulation;
Page 27
-27-
b. acting as a Lender or Recipient
Loan;
c.
provide guarantees in all its forms above
fulfillment of obligations of other parties;
d. issue debt securities;
e.
provide recommendations to Users;
f.
publish fictitious information and / or
misleading;
g. make service offerings to Users
and / or the community through means of communication
personally without User consent; and
h. impose any fees on the User above
filing a complaint.
Now whether there is a grey area that KPAY can fund loans through KFUND, or this means you can't bolster your numbers with fake loans to yourself, I guess we'll find out. I'm confident that the people who are now involved in KFUND know what theyre doing.
There is this also :
CHAPTER III
USER OF LOAN SERVICE TO LOAN MONEY
BASED ON INFORMATION TECHNOLOGY
Part One
Borrower
Article 15
(1) Loan recipients must originate and domicile in
the jurisdiction of the Unitary Republic of Indonesia.
(2) Loan Recipients as referred to in paragraph
(1) consists of:
a. an individual Indonesian citizen; or
b. Indonesian legal entity.
The second part
Lender
Article 16
(1) Lenders may originate from within and / or
overseas.
(2) Lenders as referred to in paragraph (1)
consists of:
a. an individual Indonesian citizen;
b. foreign national;
c. Indonesian / foreign legal entity;
d. Indonesian / foreign business entities; and / or
e. international institutions.
So by this a lender can be an Indonesian or foreign business. Now whether that includes a business that the same owner of the p2p owns, we'll see if there is any conflict of interest or not. I'm betting whatever way theyre doing it, they already verified its acceptance with the OJK.
Also who bought 78 lots of 4,999 shares?
So who's swing trading the 451,600 shares?
Anyone on here?
Your cliff notes of OJK-AFPI meeting today:
1."With the advancement of technology, there are currently 164 registered Fintech Lending companies and 25 licensed OJK and become AFPI members. Today the fintech lending industry has filled the financial gap of Rp 74 trillion from the needs of Rp 1,000 trillion."
*So with their newest estimate, there is only another Rp 926 trillion of business left to be had. Just a hair under $68 billion USD.
2."Sunu continued, there are three strategic issues discussed in the meeting, and will be assisted by the Chief of the presidential staff one of them is: first, for the issuance of legislation (UU) privacy data Because nowadays is the digital era, in order to give a sense of Trust to users who use digital financial services. Secondly, the need for the LAW governing fintech industry, where the P2P Lending Fintech currently only has a device of OJK rules, will be further improved in the form of LAWS such as other financial services such as banking, insurance, multifinance that already has The financial services LAWS related to their respective industries. Thirdly, access data biometric that is for speed of service, or verification needed a good interconnection."
*They want laws above the OJK regulations. They want guaranteed data privacy. They want biometrics used to process loans.
We may have been late to the party, but I'm glad were in. Theyre going to regulate the hell out of p2p, making it even harder to get a license for start-ups and everyone else. The last thing I read about capping the number of p2p lenders was they are waiting to analyze data from 2109 and Q1 of 2020, and then the AFPI will make their recommendation.
Article :https://pressrelease.kontan.co.id/release/afpi-dan-ojk-bersama-kepala-staf-kepresidenan-bahas-arah-baru-umkm-dan-petani-digital-petani-tersenyum-indonesia-turut-tersenyum
3 types of investments expected to gain popularity in 2020 for Indonesians, especially young people...
P2P Lending, Equity Crowd Funding, and Gold.
Article from this afternoon: https://www.idnfinancials.com/news/31502/grant-thornton-indonesia-identifies-popular-investment-types
End of day:
Buy volume: 3,986,536
Sell volume: 1,941,360
Look at the end of day clean up, all buys of about 1.8 million shares.
Ive downloaded and looked at a few of the apps. Very few are in English. The ones Ive found that are were Danamas and Modalku. You can dig around a little bit, but at some point you have to register to go any farther. I wanted to see what one of the actual lending pages looks like, so in Modalku you can go to the sign up as a lender page, but it will ask you which of these 3 countries are you from "Indonesia, Malaysia, or Singapore".
KFUND could probably throw the app out to everyone, but maybe it saves on people trying to sign up from out of country.
Google just says its not available in our area. I'll be surprised if it doesn't show up for us at some point. All the other p2p apps from Indonesia show up.
I did get an email back from them. They said "Yes, as a way for us to educate our users on how to use KFUND, we will post more details about our platform in our blog page later in the future."
I asked for a demo, since we cant see it.
In the PR Edwin says something about their 600,000 user base. He probably embellishing that number. But even if they had 100,000 people still with the KPAY app on their phone, send them an alert of the new KFUND app, and maybe they download.
A little good news in the PlayStore.
Theyre adding about 50 downloads a day. Were at 100+ now. Without a PR to get the word out, that's a good sign.
Just a guess, but I think we get PR tomorrow regardless of any added funding news. The fact that a CEO who loves PRs, didn't make one on one of the companies biggest launches, makes me hope his next one will be tied to something else.
Yeah, and Im sure youll come back and congratulate us if things go good. Right?
That would be the PT MDU deal that fell apart because they couldn't come to terms. Or because the Series C shares they tried to sell to finance it went nowhere. But, this may be a blessing in disguise. I would rather be going into p2p, then a dying kiosk business for prepaying your phone bill.
Also in response to the earlier post about access to US capital, he has to be referring to being listed on a US exchange, or having access to US banks. Nothing else makes sense, and yes, he could have clarified what he was referring to.
Look above. It still has the "funding breakdown".
Going to be spread across the company, as well as acquisitions.
The fact that they have no money to lend is correct. Thats what this business is. Indonesians funding loans for other Indonesians. Banking institutions using KFUNDS p2p permit to fund loans through KFUND.
I would refer you to this : https://www.whitecase.com/publications/alert/peer-peer-lending-regulation-released-ojk
Scroll down to where it says "Prohibited activities: Providers are prohibited from conducting specified activities, including: (i) conducting any business activities other than as regulated under the Regulation; (ii) acting as lender or borrower; (iii) providing guarantees for third party’s liability; (iv) providing recommendations to users; (v) issuing bonds/debt securities (e.g. promissory notes, or medium term notes); and (vi) conducting direct marketing to users or the public through personal communication media without user consent."
They are a facilitator and make money off transactions. When you see the PRs of p2p companies getting funding, read what they say it will be used for. Its not to provide loans, its for marketing and infrastructure to scale up operations.
As far as potential investors go. If the site is functional and has users, investors or partnership will come. Banks arent being exclusive to one platform. Search Bank Mandiri, and their venture capital subsidary. Investors have 164 (less minus Shariah) to choose from. Even less than that if they want a company going after all types of borrowers. Some of the permited companies are only p2p for agriculture.
Monetary incentives may happen when the p2p companies lose their leverage over the banks. They are taking the banks customers right now. The only tool a bank has to offer is its existing customer base and funding for every loan that comes through the platform. Banks could apply for a p2p license, but like i said in another post, you think theyre going to go to the markets, farms, rural areas to sign these people up? They havent done it yet. Why not just partner with the person stealing all your business.
More good stuff from the Tunas Bangsa University
https://www.instagram.com/p/B6cVH4Nit-7/
"If the internship usually means you will help the work that is already in a company, other than the child internship ATI Tunas Bangsa Jakarta. ?
?
In collaboration with KFUND (Indonesian local IT company engaged in FINTECH), the students of ATI Tunas Bangsa will get REAL PROJECT that is dimensioned by professionals in their field. Even before starting the project, the students were interviewing first to be able to dig their potential and put to the right team. ?
?
With the real project, students can directly provide a real experience in making an IT product. Well, the result of the project can also be lifted to become the final task."
It will be back as its required.
There are php links with the app that needed to be set up.
correct. they probably use the figures from the p2p websites of active lenders
I you haven't read this before, you should. Shows about as clear of a picture of the Indonesian p2p industry as you'll get.
https://www.pwc.com/id/en/fintech/PwC_FintechLendingThoughtLeadership_ExecutiveSummary.pdf
Page 12 Figure 7 : Shows the KFUND model, including retail/individuals and institutions as lenders, with KFUND being the agent.
Page 15 starts to talk about the "third wave"
Page 16 Figure 10 : Just look at the orange dotted line called "investment deals". Now you see where were at?
Page 17 Figure 11 : Acquisitions/Partnerships
Page 23 : Projected 2020 loan disbursements for p2p industry $16,348,130,000
So many good things ahead for KFUND!
I think p2p has been their goal since 9-13-18 the day KFUND was incorporated. They stated it was to be up and running in December 2018, and the latest by Jan 2019.
Well guess what happened at the end of 2018? OJK regulation No13/POJK.02/2018. Which was the sandbox regulation for p2p. Then guess what happened in early 2019? The AFPI was inaugurated by the OJK specifically for p2p lending.
They were trying to enter the market at a time when new rules were being placed on the industry. Whether or not they had the required staff in place to meet the new rules, I don't know.
I'm happy they made it through all the hard work. It will finally start paying off.
A million dollars could buy back half of the outstanding shares if he wants to jack the share price up.
Yep. There are some of the php links that probably couldn't be taken care of until the app went live.
Just sent them an email to see if we can get app demo.
I see they already fixed the 2 English links for borrower and lender.
Great job, way to stay on top of it.
I'm sending them an email to see if we can get a demo of the app in a blog post, since Americans cant get it through the PlayStore.