Investment Facts
What the business is about?
Wiitrac Elevator Sdn Bhd is an elevator and lift distribution and installation company.
This is Wiitrac Elevator Sdn Bhd's 6th P2P financing round with Alixco.
This investment note is secured by two personal guarantees, as required by ALIXCO P2P Financing.
For what will you use the funds?
The funds will be used for working capital.
Business Overview
Wiitrac Elevator Sdn Bhd is an elevator and lift distribution and installation company.
Funding amount
RM 400,000.00 for 6 months.
14.16% % interest (nominal, p.a.)
Business type
Elevator and lift installation and distribution
Location
Pulau Pinang
Number of outlets
Two
Number of directors
Four
Personal guarantees
Two
Year of incorporation
2014
Number of employees
50
Important COVID-19 information:
The recent COVID-19 crisis and the MCO increase the riskiness of any P2P financing. Due to the severity and uncertainty of this situation, the risk of late payments and/or loss of capital for P2P financings increases. Companies might suffer from loss of business and revenue during this time, which will affect their profitability and repayment ability.
Important Risk information:
The risk score of CAA2 (‘High risk’) was determined by a blend of our internal risk-based pricing algorithm, an external risk score from a leading credit rating agency and a variety of qualitative factors. It is an approximation only and does not guarantee any specific outcome. Our risk score ranges from A(‘lower risk’), B(‘medium risk’), C(‘medium-high risk’) to D(‘high risk’).
In 2019 Wiitrac Elevator Sdn Bhd had a revenue of approx. RM 10.8 million and a pre-tax profit of approx. RM 500,000.
The elevator and lift installation and distribution industry is strongly affected by downturns in the economy and heavily impacted by Covid-19 related restrictions and effects. Please note that his significantly increases the riskiness of this investment note.
Risk score of CAA2 (‘High risk’) indicates that this investment amount has an elevated-high level of risk.
This is Wiitrac Elevator Sdn Bhd's 5th P2P campaign with Alixco P2P. Wiitrac Elevator Sdn Bhd has previously had 4 P2P financing rounds with Alixco P2P 2 of which have been fully repaid and 2 of which still has upcoming outstanding repayments of approx. RM 500,000.
Investor Fees
Alixco charges 1% for investors (for 6 months investment notes) on repayments only if repayment occurs.
