Stumbled upon this website:
https://www.newunion.sg/faq
They claimed that they are
regulated by MAS. Now, that's pretty interesting since their predecessors Moolahsense et al. aren't regulated.
What makes them so different? Are they safe?
Note that they promise a 7-18% annual returns, which makes me doubt their claims of being regulated.
They promise that kind of returns but they didn't really say that it's guaranteed.
"Are these investments safe?
It is difficult to know how and when the market conditions will change and affect the underlying loan.
Investors are reminded to review the risk of each product offering, terms of use and Participation Agreement to gain a full understanding of the product characteristics.
"
"What happens to my investment when a borrower defaults on a funding?
Although New Union makes a significant effort in keeping the risk of loan default to a minimum, all loans have an inherent amount of risk; investors may lose their entire investment.
New Union has a borrower default process in place to manage the situation as soon as possible by working with the business borrower to understand the reason behind the default. Primarily, we would like to reach to an amicable solution with the borrower to protect the interests of the investors.
That withstanding, New Union has a set of legal mechanisms and contingency plans in place to mitigate such risks. We highly encourage our investors to understand the due diligence risk and nature of each proposed funding clearly to make a sound investment decision.
"
