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Jin Wen Choo

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Jin Wen Choo

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Jin Wen Choo

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CoAssets

Stocks Discussion

Investments

CoAssets shares have been suspended from trading in the ASX, anyone else finds this suspicious?
Jin Wen Choo
Jin Wen Choo
Level 3. Wonderkid
Answered on 23 Jan 2020
Hello, I am Jin Wen, the Community Manager from CoAssets! On behalf of the company, I would like to provide some inputs from the company’s standpoint on this post. First and foremost, the suspension of trading of CoAssets Ltd’s shares had been duly announced on ASX for all investors’ information. As a listed entity on the ASX, information needs to be released on the ASX first in order for all investors to have an equal and timely access to information about a company. Pursuant to ASX Listing Rule 17.2, CoAssets requested for a voluntary suspension from the quotation of its securities from the opening of trading on 6 Dec 2019 (Friday). The voluntary suspension is requested in connection with an announcement to be released. For more information, please visit http://s.coassets.com/25q. Nevertheless, the team is currently working hard at work and getting re-quoted is our TOP most priority. For the benefit of all community users, I would like to also share the difference between a voluntary suspension and involuntary suspension. It is important to note that the company requested a voluntary suspension, instead of having a suspension imposed on us by the exchange. For more information, you may refer to Guideline Note 16 on the comparison of trading halts and voluntary suspensions at http://s.coassets.com/Piy. For ASX disclosure policy, you can read more in the following link - https://www.asx.com.au/documents/rules/Chapter17.pdf. Should you have any further query, we will be happy to help answer as well. Please feel free to email us at [email protected](mailto:[email protected]). Thank you!
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P2P Lending

SeedlyTV S1E07

What is the average default % ?
Jin Wen Choo
Jin Wen Choo
Level 3. Wonderkid
Updated on 13 Dec 2019
Hello! I’m Jin Wen from CoAssets Pte Ltd (“CoAssets”) and would love to give my two cents :) Understanding Default Risk In accordance to Monetary Authority of Singapore (MAS), a non-performing loan (I.e. loan default) occurs when a repayment remains unpaid at least 30 days past the due date. Source: https://www.mas.gov.sg/-/media/MAS/Regulations-and-Financial-Stability/Regulations-Guidance-and-Licensing/Securities-Futures-and-Fund-Management/Regulations-Guidance-and-Licensing/Circulars/CMI-27-2018-Controls-and-Disclosures-to-be-Implemented-by-Licensed-Securities-Based-Crowdfunding-Operators.pdf Default Risk and CoAssets As per MAS calculation, CoAssets Pte. Ltd. has achieved a default rate of 0% for 2018. You may refer to our statistics here: https://coassets.com/asx/about/ ( Visit “Statistic” tab under “About Us” section). Having said that, past performance is not an indicator of any future performance as P2P lending is high risk after all and default is always possible. Overall, every investment comes with their own set of risks. It is advisable that investors must do their own due diligence to determine if the products match their investment objectives and risk appetite. Hope this helps!
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P2P Lending

SeedlyTV S1E07

Let's say I trust your company with my capital and invest into P2P lending. What happens to my capital when your clients default on payments?
Jin Wen Choo
Jin Wen Choo
Level 3. Wonderkid
Updated on 06 Dec 2019
Hello! I’m Jin Wen from CoAssets Pte Ltd (“CoAssets”) and would love to give my two cents :) Every investment comes with their own set of risks. The main risk that comes with P2P lending is the default risk which is defined as the risk of the Opportunity Provider (“OP”) defaulting on repayments in full or in part. Understanding Default Risk In accordance to Monetary Authority of Singapore (MAS), a non-performing loan (I.e. loan default) occurs when a repayment remains unpaid at least 30 days past the due date. Source: https://www.mas.gov.sg/-/media/MAS/Regulations-and-Financial-Stability/Regulations-Guidance-and-Licensing/Securities-Futures-and-Fund-Management/Regulations-Guidance-and-Licensing/Circulars/CMI-27-2018-Controls-and-Disclosures-to-be-Implemented-by-Licensed-Securities-Based-Crowdfunding-Operators.pdf What happens in the event of a default? CoAssets will act on behalf of our investors to recover the defaulted amounts. We can choose to do this in a variety of methods with the main goal of maximising recovery for our investors. Means of Recovery CoAssets may engage third-party debt collectors or commencing legal proceedings. In the case of legal proceedings, we may have to get a letter of authorization from affected investors to authorize CoAssets and legal counsel to act on their behalf. Legal fees may be borne by the investors if they want to proceed with legal actions. Under this entire process, the affected investors will be kept up to date on the recovery of funds and be notified should there be any material changes to the status of recovery. Conclusion Overall, it is advisable investors must do their own due diligence to determine if the products match their investment objectives and risk appetite.
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P2P Lending

SeedlyTV S1E07

How do the P2P platforms do checks on borrowers?
Jin Wen Choo
Jin Wen Choo
Level 3. Wonderkid
Updated on 29 Nov 2019
Hello! I’m Jin Wen from CoAssets Pte Ltd (“CoAssets”) and would love to give my two cents :) What's the purpose of due diligence? The main risk that comes with P2P lending is the default risk which is defined as the risk of the Investor- Opportunity Provider (“OP”) defaulting on repayments in full or in part. Default risks cannot be eliminated. However, CoAssets performs comprehensive due diligence on borrowers. The purpose of due diligence is to uncover risks (including default risk) and disclose such risks to potential investors. This is to ensure that the investors are equipped with information to make a decision. Risk Assessments performed on OP Just to share with you, CoAssets conducts risk assessment on potential OPs. Risk assessment is not to eliminate risk, but to evaluate and manage risks to ensure that the relevant materials and disclosures can be made to investors to a reasonable extent. Here are the 3 factors that CoAssets uses to assess a deal: 1. Financial Performance Analysis and Macro & Micro Economic Analysis 2. Operational and Compliance Due Diligence a. Anti-money laundering and terrorist financing checks b. Adverse news checks c. Litigation checks 3. Continuous Risk Monitoring & Review Even after the online funding project is successfully funded and disbursed, we may continuously monitor risk factors that are material to the project. CoAssets Pte. Ltd. may collect ongoing financial records or other business documents to evaluate the performance and check if the project is progressing as per proposed by Opportunity Provider (“OP”). Conclusion Overall, it is advisable Investors must do their own due diligence to determine if the products match their investment objectives and risk appetite. If you like to find out more on what risk analysis model P2P platforms like us use to evaluate projects listed on the platform, CoAssets team is hosting an educational seminars on the 5th of December, Thursday, 7pm-9pm, at CoAssets office (OUE Downtown 1). For ease of reference, register your interest here: s.coassets.com/SxX I hope this helps!
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Arcc Event

CoAssets

Investments

How does coassets mitigate the risk for either themselves or investors?
Jin Wen Choo
Jin Wen Choo
Level 3. Wonderkid
Updated on 20 Nov 2019
Hello! I’m Jin Wen from CoAssets Pte Ltd (“CoAssets”) and would love to give my two cents :) What are the risks you will face on P2P platforms: Every investment comes with their own set of risks. The main risk that comes with P2P lending is the default risk which is defined as the risk of the Investor- Opportunity Provider (“OP”) defaulting on repayments in full or in part. Understanding Default Risk In accordance to Monetary Authority of Singapore (MAS), a non-performing loan (I.e. loan default) occurs when a repayment remains unpaid at least 30 days past the due date. Source: https://www.mas.gov.sg/-/media/MAS/Regulations-and-Financial-Stability/Regulations-Guidance-and-Licensing/Securities-Futures-and-Fund-Management/Regulations-Guidance-and-Licensing/Circulars/CMI-27-2018-Controls-and-Disclosures-to-be-Implemented-by-Licensed-Securities-Based-Crowdfunding-Operators.pdf Default Risk and CoAssets Per MAS calculation, CoAssets Pte Ltd has achieved a default rate of 0% for 2018. Having said that, past performance is not an indicator of any future performance as P2P lending is high risk after all and default is always possible. Mitigating Default Risk Default risks cannot be eliminated. However, CoAssets performs comprehensive due diligence. The purpose of due diligence is to uncover risks (including default risk) and disclose such risks to potential investors. This is to ensure that the investors are equipped with information to make a decision. Risk Assessments performed on OP Just to share with you, CoAssets conducts risk assessment on potential OPs. Risk assessment is not to eliminate risk, but to evaluate and manage risks to ensure that the relevant materials and disclosures can be made to investors to a reasonable extent. Here are the 3 factors that CoAssets uses to assess a deal: 1. Financial Performance Analysis and Macro & Micro Economic Analysis 2. Operational and Compliance Due Diligence a. Anti-money laundering and terrorist financing checks b. Adverse news checks c. Litigation checks 3. Continuous Risk Monitoring & Review Even after the online funding project is successfully funded and disbursed, we may continuously monitor risk factors that are material to the project. CoAssets Pte. Ltd. may collect ongoing financial records or other business documents to evaluate the performance and check if the project is progressing as per proposed by Opportunity Provider (“OP”). Conclusion Overall, it is advisable Investors must do their own due diligence to determine if the products match their investment objectives and risk appetite. If you like to find out more on what risk analysis model P2P platforms like us use to evaluate projects listed on the platform, CoAssets team is hosting 2 educational seminars on the: (1) 26th of November, Tuesday, 7pm-9pm, at Lounge 7; and (2) 5th of December, Thursday, 7pm-9pm, at CoAssets office (OUE Downtown 1). For ease of reference, register your interest here: s.coassets.com/SxX I hope this helps!
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Level 3. Wonderkid
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