SINGAPORE, April 6 (Bernama-BUSINESS WIRE) — Point Hope Pte Ltd, a Singapore-based fund manager, has partnered with Longan Group Pte Ltd, the leading investor and debt servicer in Southeast Asia, to launch a funding platform that will acquire, service and restructure consumer NPL portfolios in emerging markets across Asia. The Singapore-domiciled fund, called Annexe Fund VCC – Longan NPL Fund (the “Fund”), was launched in 2022 and mainly invests in delinquent unsecured consumer credit in Vietnam and Indonesia, with plans to enter India, Malaysia, Philippines and Thailand in the coming years.
The Fund partners with regional financial institutions and fintech companies to purchase NPL portfolios from their books. Managing the Fund is a team with 10 years of track record in consumer credit globally, comprising 150 staff members in Vietnam and Indonesia with extensive experience in credit scoring, data analysis and best practices. Longan Group’s collections teams are tech-enabled and place a strong focus on ethical resolutions to help customers reduce their debt burden and optimize cash flows. The Fund’s infrastructure in Asia uses an advanced proprietary credit scoring system that applies artificial intelligence and machine learning tools to price non-performing loans.
http://mrem.bernama.com/viewsm.php?idm=45837