Most frequent questions and answers
Moneysave is fully owned and managed by Moneysave (M) Sdn Bhd which is a Recognised Market Operator registered by the Securities Commission of Malaysia to operate a peer-to-peer financing platform.
Moneysave reviews and assess all applications before notes are allowed to be hosted on the platform by referring to the information sourced from official sources or information providers.
Investors then selects which Investment Notes they wish to invest in by submitting their offers on our platform. Investors can spread their risks by investing in different Investment Notes by which can be filtered. Moneysave intends to make the platform as affordable so that an investor can start investing from RM5.
SMEs employ the majority of people in Malaysia, and their performance have a profound effect on the health of the economy. Moneysave would like to play a crucial role in developing the economy empowering by assisting SMEs to raise financing and on the other hand, assist investors to gain access to opportunities and potentially gain more attractive yields and participate together in growing the Issuer’s businesses.
Moneysave’s role is to:
- Perform introductory functions on behalf of prospective Issuers and Investors for the issuance of notes.
- Provide a streamlined process for the issuance of notes (including the development of standard contract notes).
- Facilitate the payments and collection of sums due under or in connection with those Notes (including taking certain actions on behalf of investors upon an issuer’s default or if the issuer becomes, or is likely to become, insolvent).
Moneysave is not a party to the Note.
It means any contract, agreement, note or any other document evidencing a monetary loan, executed or offered, on or through an electronic platform, where an investor expects a financial return, but does not include–
(a) any right, option or interest in respect thereof;
(b) a cheque, banker’s draft or any other bill of exchange or a letter of credit;
(c) a banknote, guarantee or an insurance policy; or
(d) a statement, passbook or other document showing any balance in a current, deposit or savings account;
Moneysave conducts a preliminary screening based on a knock out matrix to weed out ineligible Issuers.
After an Issuer clears the preliminary screening, a full credit evaluation will be performed covering:
- Purpose of facility
- Financial analysis
- Management capability
- Repayment capabilities
To be eligible, your company:
- Incorporated in Malaysia with a minimum of 30% shareholding by Malaysian citizens
- Either a sole proprietorship, partnership, incorporated limited liability partnerships, private limited company or an unlisted public company
- Operating for at least 1 year
- Annual turnover of at least RM 1,000,000
You will be in investing in Malaysian SMEs who have passed through our rigorous credit assessment. We encourage our investors to check the factsheet of the investment opportunity before investing.
We then request for the standard set of company and financial documents for further assessment of the financial performance of the company before verifying the credit bureau reports of all the directors and check for credit litigation history against the company.
If the verification checks out, we will then schedule a site visit to the issuer’s business premises where we assess their willingness and ability to finance the repayments.
Moneysave reserves the right to suspend or terminate a member’s account if it appears an account has been used in breach of the Code of Conduct or any applicable laws.
Only registered and qualified members (with Investor or Business accounts) of Moneysave can gain access to the information and services provided by the platform. Information provided on our platform is strictly confidential. Identification proofs are required and will be verified when creating an account with us.
However, Moneysave does open with limited access to the public to view investment opportunities. Investor is requested to sign up for an account if they are keen to invest in the Notes published or issued in the platform.
A rescheduling and restructuring of Financing Facilities involves any modification made to the original repayment terms and conditions of the facility following an increase in the credit risk/deterioration in creditworthiness of the Issuer.
This includes both bullet and periodic repayment facilities requiring refinancing, notwithstanding the fact that the original repayment agreement allows for refinancing as a possible way out for the facility.
Moneysave has a Living Will arrangement with Universal Trustee(M) Berhad so that in the event that Moneysave goes out of business, the notes that have been successfully issued on the platform will be unaffected and investors will continue to receive their monthly repayments.
As investors are financing directly to businesses, the parties to the note are between the Investors and the Issuers. These contracts remain in place and are unaffected. Moneysave has entered into a backup servicing arrangement to transfer the servicing functions of all outstanding notes to provide continuity in the event that Moneysave becomes insolvent.
A written notice shall be published to all Issuers and Investors of existing Notes on the takeover by the designated backup service provider in the event of business cessation by Moneysave.
The backup service provider shall be entitled to charge each Investor a service fee, on such periodic basis as notified to the Investors.
The backup service provider will carry out the following activities:
- Maintain an account under a licenced financial institution in Malaysia, for the purpose of receiving and holding the monies of the Issuers and Investors of existing Notes
- Consolidating monthly instalments from the Issuers and making payments to the registered bank accounts of the Investor of existing Notes at the end of every month.
- Maintaining records of all transactions relating to the Notes
- Responding to queries of the Issuer and Investors of existing Notes
- Facilitate the Recovery of partial repayment, missed repayment, late or non-payment of Issuers
If you wish to close your Moneysave account, please submit a ticket at: https://moneysave.com.my/contact/.
Please provide us a scanned copy of your NRIC / Passport / Relevant Identification documents and include in your message to us ‘ Please close my account.’
Please ensure all available funds are withdrawn before closing the account and allow Moneysave up to 3 business days to process the account closure. Once we have completed the process, an email notification will be sent to you indicating that the account has been closed.
Extensions of financing facility, where appropriate, should be adequately secured. A financing package is considered secured when the entire package is fully covered by the Platform’s approved securities within an approved secured margins for authority Limit purpose.
Assets pledged to secure financing facility must meet the definition of collateral in respect of the following:
The Platform have clear legal rights over the collateral, and may liquidate / foreclose or retain it in the event of Issuer’s default, insolvency or bankruptcy (or other risk default events as specified in the transaction documentation) of the Issuer and where applicable the custodian holding the collateral
The credit quality of the obligor and collateral value must not have a material positive correlation such that it would render the collateral of little value should the credit quality of the obligor deteriorate.
Consideration must be given to factors such as margin of advance, top-up trigger for collateral shortfall, collateral concentration level, and collateral liquidity in the assessment of the collateral value.
The collateral should be liquid or under normal circumstance and able to be disposed-off within a reasonable timeframe
The collateral should be easily identifiable. If the collateral is held by a custodian, the custodian should segregate the collateral from its own
Any collateral security for any Investment Notes would be specifically stated in the relevant Fact Sheet.
Please note that your investment may be subject sanctions, laws and regulations of your home country or applicable to any Party or any of its Affiliates (in particular but not limited to laws relating to tax, exchange control, anti-money laundering and anti-terrorism financing, fraud as well as data protection) if you are an investor residing, or you have your principal place of business, outside of Malaysia.
You shall be responsible for your own tax liabilities, transaction costs and capital controls which may be imposed by the laws of your home country.
Any information about you and/or your investment shall be disclosed by Moneysave if it is necessary to comply with any applicable law, regulation, court order or governmental request. We shall not be held liable for any action taken by the authorities against you for your failure to comply with the applicable laws.
If you are unsure about your legal obligations under the laws of your home country which may be applicable on to you and/or your investment on this platform, you shall seek advice from an independent Financial Planning Advisor, legal counsel or similar professional.
The Investor authorises Moneysave to initiate legal action against the Issuer in the event the Issuer does not make any further payment within fourteen (14) days from the date of demand subject to at least 51% (by Investment Value) of the Investors agreeing to proceed with such action and funded the cost of recovery.
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