4 December 2018 – the Board of N1 Holdings Limited (ASX: N1H or the “Company”) is pleased to announce the appointment of a new independent non-executive director, Mr David Holmes, to the Board of N1H.
The current Board of directors comprises CEO Mr Ren Hor Wong, CFO Ms Jia Penny He and independent director Mr Tarun Kanji.
Currently an executive director at Little Lease Company, Mr Holmes will bring a wealth of credit, funding and lending knowledge and experience to the Board.
Mr Holmes has over 30 years’ experience in the financial services industry having held senior roles in the UK and Australia. He was Head of Mortgage Credit for Citibank UK before becoming COO at Preferred Mortgages, one of the first non-conforming lenders in the UK. In August 2000 David moved to Australia and was one of the founding Executives at Pepper Money. While at Pepper Money he served as COO and Global Head of Credit with responsibility for the establishment and maintenance of credit polices throughout Australia, Ireland and South Korea. David was instrumental in Pepper Money gaining warehouse funding facilities from three of the major banks in Australia.
The Company looks forward to benefiting from the invaluable experience David will bring to the business.
30 November 2018 – the Board of N1 Holdings Limited (ASX: N1H or the “Company”) is pleased to announce that the Company is to launch a pilot of its business lending operations in Singapore in January 2019. The proposed move into the Singapore market is aimed at expanding the Company’s integrated business and financial services capabilities, and to complement its current operations in Malaysia.
N1 recently launched its first debt fund, the One Lending Fund managed by the Company’s AFS licensed subsidiary, N1 Venture. One Lending Fund provides short-term loans to small-to-medium enterprises (SMEs) in Australia.
N1H CEO and executive chairman Ren Hor Wong said “Over the past 12 months, we have experienced significant growth in both broking and writing commercial loans to small businesses in Australia. Commercial lending and broking is becoming the major driver of growth among the N1 group of businesses. This further demonstrates the success of our diversification strategy. We have strong connections and a large network of relationships in Singapore and Malaysia. The fact that we have significant shareholders in the region and a capable team in Malaysia means that the expansion of the business into Singapore will be implemented with minimal costs while providing a new revenue stream. I am eager to implement our expansion into this market. Australia and Singapore share many commercial characteristics, and with over 700 SMEs in Singapore constantly in need of alternative sources of borrowing, we believe that N1’s lending business will add value to that market.
“The Company already offers a range of services to non-residents in Australia including lending via N1 Loans, property management services via N1 Realty, and migration consulting services to via N1 Migration. The expansion of our business into Singapore is the natural next step in our Company’s evolution.”
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