MoolahSense investing Thread

[bluecutie]

recently moolah sense is back in action again with lots more offers.

However i realised the SMEs that are in always have very low average cash balances despite their high profits and revenues

E.g. 14 mil revenue, 1 mil net profit after tax, avg cash balance 25k for past 6 mths

anybody know why?

lol....need to ask why?? Why u think they are borrowing from.p2p?

 

[bluecutie]

MoolahSense interest is not taxable, I emailed to ask IRAS already to confirm with them - you know you can email and ask for yourself.

Would discourage any buddies here from investing with MoolahSense. My MoolahSense dashboard now showing -3.34% projected returns, very heartpain already and I know this will most likely worsen coz more defaults will come from many companies that are delinquent but yet to classify as default. This is from a well-diversified portfolio of 60 loans across many companies and industries.

As an update, my tally now stands at 39% default rate, with 9 in default and 14 fully paid.

But of course if die die you want to invest nobody will stop you. In fact let me know if you are going to, so I can give you referral link and we both earn the referral rewards.

this company is just a second story shophouse ....same size as HDB flat....

 

[Supersian]

great. more issuers will follow suit. i guess loan restructuring is still better than filing for bankcruptcy.

 

[limster]

Decided to try moolahsense for the first time, put in $100 to try. First time invest in moolahsense, first month only deafult already. No more moolahsense from now. Heng only $100.

Its really a win for the borrowers if they can borrow money and first repayment don't pay. No penalty for the borrowers because they can restructure immediately into interest free loan?

 

[Supersian]

Its really a win for the borrowers if they can borrow money and first repayment don't pay. No penalty for the borrowers because they can restructure immediately into interest free loan?

Nah, probably after more than 6 months of recovery efforts

 

[VycNotVic]

notes and bonds...whats the diff?

anyone invested in Hyflux, Noble Bond?

Understand that notes and bonds are the same?

 

[JuniorLion]

anyone invested in Hyflux, Noble Bond?

Understand that notes and bonds are the same?

Wait, does this belong in Moolahsense Thread?

 

[wonghw12]

As an update, my tally stands at 13 in default, 14 repaid. Close to 50% default rate...

Expecting to lose big monies

 

[Supersian]

As an update, my tally stands at 13 in default, 14 repaid. Close to 50% default rate...

Expecting to lose big monies

Same. 2 bankruptcies, few restructured with late interest waived, all communicated using standard clauses, pure laziness.

 

[wonghw12]

Another update:

Trends continue from previous months with further escalation in defaults.
1. More and more on-time (current) borrowers are late on payments.
2. More and more late borrowers are getting later (past due).
3. Very late borrowers prefer to outright default (doubtful / loss).
4. Big majority of defaulted cases are now lost cause (loss).

Hardwarezone does not allow me to upload screenshots but here's my the latest statistics:
Defaulted companies = 15
Fully paid companies = 14
Default rate is now exceeds 50%!


Shockingly also, MoolahSense has been doing very little to recover debts. I have been chasing MoolahSense for action on the defaulted borrowers. Other than those that MoolahSense restructured (2 borrowers) or legal route was taken/bankrupted (3 borrowers), MoolahSense is doing largely nothing to the rest of the 10! Or rather, MoolahSense's is indeed putting in 'efforts' but perfectly fine to be entertained with empty verbal commitment. Copy pasting one of the examples below:

17 Aug: The issuer has made a verbal commitment to make payment by the end of this month. We will follow up on this.

31 Aug: The issuer has delayed their commitment and has now set a new deadline by 2nd week Sept. Late interest will continue to accrue. We will follow up on this.

7 Sep: We have been in contact with the issuer. They have verbally committed to making a partial payment in mid-Sept. We will follow up on this commitment.

5 Oct: We had been in touch with the guarantor and highlighted that no repayment was made. They have verbally committed to make a payment within the next week.

 

[JuniorLion]

Another update:

Trends continue from previous months with further escalation in defaults.
1. More and more on-time (current) borrowers are late on payments.
2. More and more late borrowers are getting later (past due).
3. Very late borrowers prefer to outright default (doubtful / loss).
4. Big majority of defaulted cases are now lost cause (loss).

Hardwarezone does not allow me to upload screenshots but here's my the latest statistics:
Defaulted companies = 15
Fully paid companies = 14
Default rate is now exceeds 50%!

If you invest in something that is not MAS-regulated, you take the risk.

 

[Supersian]

Another update:

Trends continue from previous months with further escalation in defaults.
1. More and more on-time (current) borrowers are late on payments.
2. More and more late borrowers are getting later (past due).
3. Very late borrowers prefer to outright default (doubtful / loss).
4. Big majority of defaulted cases are now lost cause (loss).

Hardwarezone does not allow me to upload screenshots but here's my the latest statistics:
Defaulted companies = 15
Fully paid companies = 14
Default rate is now exceeds 50%!


Shockingly also, MoolahSense has been doing very little to recover debts. I have been chasing MoolahSense for action on the defaulted borrowers. Other than those that MoolahSense restructured (2 borrowers) or legal route was taken/bankrupted (3 borrowers), MoolahSense is doing largely nothing to the rest of the 10! Or rather, MoolahSense's is indeed putting in 'efforts' but perfectly fine to be entertained with empty verbal commitment. Copy pasting one of the examples below:

17 Aug: The issuer has made a verbal commitment to make payment by the end of this month. We will follow up on this.

31 Aug: The issuer has delayed their commitment and has now set a new deadline by 2nd week Sept. Late interest will continue to accrue. We will follow up on this.

7 Sep: We have been in contact with the issuer. They have verbally committed to making a partial payment in mid-Sept. We will follow up on this commitment.

5 Oct: We had been in touch with the guarantor and highlighted that no repayment was made. They have verbally committed to make a payment within the next week.

Same. Thanks for sharing so others is aware of this scam.

 

[zhiming1]

https://www.bloomberg.com/news/arti...orm-failures-surge-as-panic-spreads-in-market

 

[myename]

For those who've encountered bankruptcy cases, how long does it take or did you manage to get back anything at all?

 

[boiboi123]

Does anyone have experience investing with Modalku (i.e. funding societies)? How do they differ?

 

[wonghw12]

Does anyone have experience investing with Modalku (i.e. funding societies)? How do they differ?

My experience is almost great so far. No default and the borrowers who are late quickly pay back. The only drawback is lack of investment opportunities as everything is snapped up so fast and you won't get a good allocation.

 

[goldnut]

Maybe we should have crowdfund ah longs to chase down payment...

 

[boiboi123]

Wow supply not enough for demand?

My experience is almost great so far. No default and the borrowers who are late quickly pay back. The only drawback is lack of investment opportunities as everything is snapped up so fast and you won't get a good allocation.

 

[wonghw12]

Wow supply not enough for demand?

Conversely, you can most likely get full allocation on anything on MoolahSense. A number of deals are taking over 20 days to fill, and it seems a number will not even get fully filled no matter how small the asking amount.

Conversely, on Funding Societies, even bigger deals with sizes of SGD500k-SGD1m gets taken down rapidly.

 

[wira]

so far so good for me investing in capital match.

put in $7000 last year. current value stands at $9000 with $800 outstanding ( still pending repayment but no defaults )

even if the $800 defaulted, total returns for the year is still pretty good at 17%