Investment No.

: WC22011405
Issuer No. : ISN13898
Issuance Date : 12 Jan 2022
Closing Date : 17 Jan 2022

Working Capital Financing for a Property Investment Holding

Company
Terms of Financing
Financing Amount (RM) 5,000,000.00 Financing Product Working Capital Financing
Effective Return p.a. 14.16% Payment Method Monthly Instalment
Service Fees 25.00% on Gross Return Note Grade A
Expected Maturity Date 19 Jan 2025
Expected Maximum Tenure 36 Months

Company Type Private Limited

Securities 1. Directors Guarantee
2. Corporate Guarantee by the Holding Company
3. Charge over 4 units of properties located in Klang Valley, with a collateral value of
85% of the total financing amount as quoted by an independent valuer. As this note
represents one half of the total financing amount, this security will be shared across
the Issuer’s total outstanding exposure equally

Repayment Schedule
Service Fees
Gross Return Net Return to
No. Date Principal (RM) (incl. 6% SST) Total (RM)
(RM) Investors (RM)
(RM)
1 19 Feb 22 0.00 37,500.00 9,937.50 27,562.50 27,562.50
2 19 Mar 22 0.00 37,500.00 9,937.50 27,562.50 27,562.50
3 19 Apr 22 0.00 37,500.00 9,937.50 27,562.50 27,562.50
4 19 May 22 0.00 37,500.00 9,937.50 27,562.50 27,562.50
5 19 Jun 22 0.00 37,500.00 9,937.50 27,562.50 27,562.50
6 19 Jul 22 0.00 37,500.00 9,937.50 27,562.50 27,562.50
7 19 Aug 22 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
8 19 Sep 22 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
9 19 Oct 22 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
10 19 Nov 22 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
11 19 Dec 22 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
12 19 Jan 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
13 19 Feb 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
14 19 Mar 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
15 19 Apr 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
16 19 May 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
17 19 Jun 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
18 19 Jul 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
19 19 Aug 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
20 19 Sep 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
21 19 Oct 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
 Investment No. : WC22011405
Issuer No. : ISN13898
Issuance Date : 12 Jan 2022
Closing Date : 17 Jan 2022

22 19 Nov 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17

23 19 Dec 23 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
24 19 Jan 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
25 19 Feb 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
26 19 Mar 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
27 19 Apr 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
28 19 May 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
29 19 Jun 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
30 19 Jul 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
31 19 Aug 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
32 19 Sep 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
33 19 Oct 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
34 19 Nov 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
35 19 Dec 24 166,666.67 37,500.00 9,937.50 27,562.50 194,229.17
36 19 Jan 25 166,666.57 37,500.00 9,937.50 27,562.50 194,229.07

Issuer

Industry Established since No. of Directors SME Score

Real Estate and Properties No Score Provided by

2002 3
Investment Holding Credit Bureaus

Business / Investment Note Description

Established in 2002, the Issuer acts as an investment holding company principally owning and renting out the
properties to its clients. They possess two commercial buildings in Kuala Lumpur city centre. Currently they are in
need of additional funds to improve their working capital.
 Investment No. : WC22011405
Issuer No. : ISN13898
Issuance Date : 12 Jan 2022
Closing Date : 17 Jan 2022

Key Management Personnel

Personnel Position: Personal Guarantor: Shareholding (%): Age:
1. P1 Director Yes 0.00 70
Background: Male. Malaysian. He has more than 20 years of experience in the real estate
industry.
Adverse Finding: Nil. No history of litigation record noted.
Personnel Position: Personal Guarantor: Shareholding (%): Age:
2. P2 Director Yes 0.00 68
Background: Female. Malaysian. She has 20 years of experience in the real estate industry.
Adverse Finding: Nil. No history of litigation record noted.
Personnel Position: Personal Guarantor: Shareholding (%): Age:
3. P3 Director Yes 0.00 37
Background: Female. Malaysian. She has 15 years of experience in the real estate industry.
Adverse Finding: Nil. No history of litigation record noted.

Financials
BALANCE SHEET Dec'20 A Dec'19 A Dec'18 A INCOME STATEMENT Dec'20 A Dec'19 A Dec'18 A
(RM) (RM) (RM) (RM) (RM) (RM)
ASSETS Revenue 1.63M 1.53M 1.01M
Fixed Assets 51.90M 52.22M 51.39M Profit Before Tax 328.91K 455.71K 723.74K
Current Assets 794.49K 854.15K 767.37K Profit After Tax 218.84K 347.60K 786.79K
Total Assets 52.70M 53.07M 52.16M
FINANCIAL RATIOS Dec'20 A Dec'19 A Dec'18 A
(RM) (RM) (RM)
EQUITY AND LIABILITIES Revenue Growth 6.59% 50.84% N/A
Shareholders’ Equity 48.02M 47.80M 47.46M Profit Margin Before Tax 20.20% 22.76% 71.47%
Long Term Liabilities 1.52M 1.56M 3.04M Profit Margin After Tax 13.44% 22.76% 77.70%
Current Liabilities 3.15M 3.71M 1.67M Current Ratio 0.25x 0.23x 0.46x
Total Liabilities 4.68M 5.27M 4.70M
Total Equity & Liabilities 52.70M 53.07M 52.16M

* B = Borang B/J, M = Management, D = Auditor’s Draft, A= Audited

 Investment No. : WC22011405
Issuer No. : ISN13898
Issuance Date : 12 Jan 2022
Closing Date : 17 Jan 2022

Issuer’s Borrowing with Financial Institutions

The Issuer has no borrowings with Financial Institutions.

Guarantors’ Borrowing with Financial Institutions

Types of Facilities No. of Borrowings Outstanding (RM) Total Limit (RM) Overall Conduct
Revolving 11 327.11K 4.54M Prompt
Total 11 327.11K 4.54M

Bank Account Analysis

Summary Mar'21 Apr'21 May'21 Jun'21 Jul'21 Aug'21 Average Total
Deposit 2.84M 1.50M 987.00K 1.09M 615.00K 400.00K 1.24M 7.44M
Withdrawal -999.11K -784.93K -533.83K -116.98K -426.35K -422.94K -547.36K -3.28M
Net Change 1.84M 719.07K 453.17K 973.02K 188.65K -22.94K 691.98K 4.15M
Average Daily Balance 27.14K 47.90K 26.11K 25.86K 5.59K 10.36K
 Investment No. : WC22011405
Issuer No. : ISN13898
Issuance Date : 12 Jan 2022
Closing Date : 17 Jan 2022

Overall Comments
The Issuer has been in the real estate industry for 20 years, which is wholly owned by a public company. The
business is spearheaded by a management team with vast and extensive experience.

Based on Issuer's audited FY2020 financials, the revenue grows steadily by 6.6% to RM1.6 million with pretax margin
of 20%. Corporate guarantee is also being provided by its parent company, an international diversified conglomerate
that has more than 20 years of experience in property development, general insurance and technology ventures.

Based on the Issuer's track record in the industry and the management's in-depth experience, the risk of
non-performance and non-repayment is minimal.

Formula
Item Formula Interpretation
Issuer’s crowdfunding target
Financing Amount (RM)
amount
Service Fees (RM) = 𝐺𝑟𝑜𝑠𝑠 𝑅𝑒𝑡𝑢𝑟𝑛 × 𝑆𝑒𝑟𝑣𝑖𝑐𝑒 𝐹𝑒𝑒𝑠 𝑅𝑎𝑡𝑒 (%)
Expected gross amount
Expected Gross Return 𝐸𝑥𝑝𝑒𝑐𝑡𝑒𝑑 𝑇𝑒𝑛𝑢𝑟𝑒 (𝑑𝑎𝑦
= 𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑛𝑔 𝐴𝑚𝑜𝑢𝑛𝑡 (𝑅𝑀) ×𝐺𝑟𝑜𝑠𝑠 𝑅𝑒𝑡𝑢𝑟𝑛 (% 𝑝. 𝑎.) × 360
receivable
at Expected
(RM)
Maturity Date
Actual gross amount
Actual Gross Return 𝐴𝑐𝑡𝑢𝑎𝑙 𝑇𝑒𝑛𝑢𝑟𝑒 (𝑑𝑎𝑦𝑠)
= 𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑛𝑔 𝐴𝑚𝑜𝑢𝑛𝑡 (𝑅𝑀) ×𝐺𝑟𝑜𝑠𝑠 𝑅𝑒𝑡𝑢𝑟𝑛 (% 𝑝. 𝑎.) × 360
receivable upon full
(RM)
settlement
Profit bearing days from
Actual Tenure = 𝐹𝑢𝑙𝑙 𝑆𝑒𝑡𝑡𝑙𝑒𝑚𝑒𝑛𝑡 𝐷𝑎𝑡𝑒 − 𝐷𝑖𝑠𝑏𝑢𝑟𝑠𝑒𝑚𝑒𝑛𝑡 𝐷𝑎𝑡𝑒 disbursement to full
settlement received
Percentage of revenue
𝑃𝑟𝑒𝑠𝑒𝑛𝑡 𝑅𝑒𝑣𝑒𝑛𝑢𝑒 (𝑅𝑀)
Revenue Growth (%) = 𝑃𝑎𝑠𝑡 𝑅𝑒𝑣𝑒𝑛𝑢𝑒 (𝑅𝑀) − 1 increased compared to
previous year
Profit Margin Before Tax
𝑃𝑟𝑜𝑓𝑖𝑡 𝐵𝑒𝑓𝑜𝑟𝑒 𝑇𝑎𝑥 (𝑅𝑀) Percentage of revenue that
(%) = 𝑅𝑒𝑣𝑒𝑛𝑢𝑒 (𝑅𝑀) has turned into profits
Profit Margin After Tax Percentage of revenue that
𝑃𝑟𝑜𝑓𝑖𝑡 𝐴𝑓𝑡𝑒𝑟 𝑇𝑎𝑥 (𝑅𝑀)
(%) = 𝑅𝑒𝑣𝑒𝑛𝑢𝑒 (𝑅𝑀)
has turned into profits after
taxation
Measures a company’s ability
𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐴𝑠𝑠𝑒𝑡𝑠
Current Ratio = 𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠
to meet short-term
obligations
 Investment No. : WC22011405
Issuer No. : ISN13898
Issuance Date : 12 Jan 2022
Closing Date : 17 Jan 2022

SME Score
Company Business
SME Score Probability of Losses SME Score Probability of Losses
340-400 1.20% 340-400 1.20%
330-339 3.24% 330-339 3.24%
310-319 5.42% 310-329 5.42%
290-309 8.88% 290-309 9.12%
280-289 13.81% 280-289 13.81%
250-279 22.96% 260-279 22.96%
240-249 38.27% 250-259 38.27%
220-239 60.06% 170-249 60.06%
180-219 82.34% 150-169 82.34%
100-179 95.83% 100-149 95.83%
No score N/A No score N/A

CapBay Note Grading

This grading is based on our evaluation of the investment note, ranging from A+, A, B, C, D to E with A+ being the
highest grade. We use this grading to provide a more holistic view of the investment notes, taking various types of
risks into consideration. You must not rely on this grading in arriving at your decision to subscribe to this offering and
shall at all times undertake your own research, analysis, and assessment. Professional advice shall be obtained as
and when you deem necessary.

Securities Disclosure
The market value of the property provided herein are estimates obtained from the valuation report prepared by an
independent valuer licensed under the Valuers, Appraisers, Estate Agents and Property Managers Act 1981. Please
note that the estimated value is current as at 23 August 2021 only and may change materially and unexpectedly over
a short period of time for various reasons, including general market movement or factors specific to the particular
property. In the event of a foreclosure, the net realisable value of the property may differ from the estimated value.

Given that the RM5,000,000 financing amount of this note is part of a total financing amount of RM10,000,000 as
the financing was split into two separate notes, the securities will cover both notes pari-passu, with no preference or
seniority given to a specific note in the event of recovery.

Jurisdiction Limitation
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other taxes and restrictions affecting your investment returns including by withholding tax under Malaysian law, and
other laws and regulations governing your tax residency. CapBay may withhold tax as required by Malaysian law and
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your investment. Kindly note that nothing here constitutes a binding statement for you to rely on.
 Investment No. : WC22011405
Issuer No. : ISN13898
Issuance Date : 12 Jan 2022
Closing Date : 17 Jan 2022

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