Daily Brief Singapore: MoneyHero , DBS and more

MoneyHero is a leading South-East Asian personal finance aggregator and comparison platform, covering the full suite of personal finance products. Its goal is to educate and empower consumers on personal finance through engaging content and rewards on financial products. The company partners with leading local and global financial institutions to ensure it has the most attractive products and offers for its user base. Management has ambitious plans to grow market share and attractive product verticals, such as insurance. Having raised c $87m in net proceeds from a deSPAC transaction in October 2023, the company paid down all debt and had a net cash position of $68.6m at end FY23, meaning it is well capitalised to fund the acceleration in growth.

• CapitaLand Investment (CLI) led the buyback consideration tally, buying back 17,055,700 shares at an average price of S$2.61 per share.
• This brought the percentage of company shares bought back on the current mandate to 0.47 per cent.
• The preceding year’s buyback mandate saw CLI buy back 03 per cent of its issued shares (excluding treasury shares) between Sep 28, 2023, and Jan 26, 2024.

• This is our first report on MoneyHero Group and we look to provide a detailed account of the various assets owned by the company and the drivers that will be responsible for the company’s growth in the coming years.
• MoneyHero Group stands out as a compelling investment opportunity in the burgeoning financial services sector of Greater Southeast Asia.
• The company’s core competency lies in its sophisticated digital platforms that connect consumers with an extensive range of financial products, including credit cards, loans, and insurance, through seamless and user-friendly interfaces.