IOUpay Limited (ASX: IOU) announced that its 100% owned subsidiary, IOU Pay (Asia) Sdn Bhd, has signed a Strategic Partnership Agreement with I.Destinasi Sdn Bhd, to collaborate on financing opportunities targeting Malaysian Federal Civil Servants in various government ministries. Under the agreement, both companies will develop specific products and marketing programs for mutual benefit, targeting FCS’ whether they be previous or new Malaysian Government employees.
The agreement has five years of maturity, which can be extended by a written agreement between the parties. Under the contract, the first project being initiated will be a short-term bridging loan product tailored for and targeting newly employed Federal Civil Servants. The project will provide Individual loans of RM10,000 (AU$3,2791) to new Malaysia Government employees in line with the lending practices defined by Bank Negara Malaysia.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
