11 July 2015: Singapore based platform Crowdo(nomic) has rebranded and announced it is moving into Peer to Peer lending in Indonesia. After running a beta pilot for around 200 companies it will offer collateralised loans for select investors. Cofounder Leo Schimada said that Indonesian SMEs are underserved by banks and that their platform would offer lower interest rates. Building on its recent Malaysian equity licence, Crowdo states that it is the first SE Asian platform to offer both debt & equity crowdfunding.
8 July 2015: Singapore crowdfunding start up CoAssets has listed on the National Stock Exchange, a secondary board in Australia. The company was the first to provide real estate crowdfunding services in South East Asia, and will broaden its offerings to include Peer to Peer lending for businesses outside of the real estate industry. Mr Getty Goh, Co-founder & CEO, stated the listing on the NSX would provide stronger links to Australia’s real estate and VC markets as well as providing more capital to expand CoAssets’ operations in the region.
2 July 2015: The Parliament of Malaysia passed the Capital Markets and Services Bill 2015 today, which includes the enabling laws for equity crowdfunding. “We encourage the use of Equity Crowdfunding and hope that more people will use it” stated Deputy Finance Minister Datuk Ahmad Masian shortly after the Bills’ Passage. The Bill authorises a maximum raise of RM 3 million in a year for SMEs and RM 5 million for larger companies. Six companies are already pre-approved to carry out crowdfunding in Malaysia, which is the first country in ASEAN to authorise this new form of capital raising.