Low Risk 3
This Investment Note pays a low Interest Rate and has a low Risk of Default.
It has a strong Credit Quality due to good cashflow and good Debt Service Ratio.
SME - COURSENETWORKING ASIA PACIFIC SDN. BHD., E-commerce,
RM 500,000 for 36 month term. RM 500,000 funded
Is this a Shariah-compliant Investment Note? / Adakah ianya Nota Pelaburan patuh Syariah?
YES
Who is the Issuer and what does the business do?
CourseNetworking (CN) was developed based on the concept of course "networking," as opposed to the typical course "management" systems. Thus, a new social Learning Management System (LMS) was born based on the notion of lifelong access to LMS content, and deep integration personal Electronic Portfolio (ePortfolio).
In 2011, the idea and business model of CN were discussed with Indiana University’s leadership. CourseNetworking LLC was co-founded and commercialized by Indiana University and Ali Jafari. The unique business model planned to offer lifelong, free ePortfolio accounts to individuals, worldwide while monetizing through low-cost institutional licensing and optional individual premium accounts.
At CN, we take pride in having an enthusiastic global team that works tirelessly to maximize opportunities for our established and potential clients. CN is headquartered in Indianapolis, IN USA, and has offices in Kuala Lumpur, Malaysia, and Guangzhou, China.
Our Asia Pacific (CNAP) headquarters, located in Kuala Lumpur, focuses on business development and marketing work in the region. Our team in Guangzhou, China, works hand in hand with the U.S. and IUPUI CyberLab team to maintain and develop CN’s technology backbone as they focus on continuous software innovation and development of the CN platform. The CN Asia Pacific business is servicing Asia pacific clients in Malaysia and Singapore, such as UCSI University, Berjaya University College, Leaderonomics, UTAR, Islamic centre Singapore. Clients use the CN platform for teaching and learning.
Who is the owner / key person(s) in the business?
Professor Ali Jafari founded CourseNetworking LLC as part of his research on the next generation e-learning technology platform (see CN white paper).
Professor Jafari is a serial entrepreneur who is well known for his research and innovation in the area of Information Technology, more specifically, on the development of a series of Learning Management Systems (LMS).
The owner of the Asia Pacific business is Yong Mien Dee and has been running the business for 8 years with the asia pacific team. Mien Dee has a Masters in Management information systems.
What are their future plans?
CNAP has intentions to grow the business by licensing the software to more educational institutions, corporate learners and to build microcredential courses with existing clients using a new business model which includes B2C marketing. This will require CNAP to have its own website to sell and promote the microcredential courses.
What has been their annual sales turnover?
CNAP was generating RM 26, 592 in 2019 to RM 29,819 in 2020 expected to generate RM 36,384.69 in 2021
Number of years in business?
CNAP has been operating in US for 11 years and in Malaysia for 8 years.
How would the Issuer utilise the funds raised on the platform?
To increase more clients in the educational space, to create a new website to sell microcredential courses, to work with universities to build more content to sell as microcredential courses worldwide.
The rationale behind the Issuer's Credit Risk Score - microLEAP's Comments
N/A
This Investment Note pays a low Interest Rate and has a low Risk of Default.
It has a strong Credit Quality due to good cashflow and good Debt Service Ratio.
This Investment Note pays the lowest Interest Rate and has the lowest Risk of Default.
It has the strongest Credit Quality due to very high cashflow and very low Debt Service Ratio.
This Investment Note pays a lower Interest Rate and has a lower Risk of Default.
It has a stronger Credit Quality due to high cashflow and low Debt Service Ratio.
This Investment Note pays a low Interest Rate and has a low Risk of Default.
It has a strong Credit Quality due to good cashflow and good Debt Service Ratio.
This Investment Note pays a medium-low Interest Rate and has a medium-low Risk of Default.
It has a medium-strong Credit Quality due to average to good cashflow and average to good Debt Service Ratio.
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This Investment Note pays a medium Interest Rate and has a medium Risk of Default.
It has a medium Credit Quality due to average cashflow and average Debt Service Ratio.
This Investment Note pays a medium-high Interest Rate and has a medium-high Risk of Default.
It has a medium-weak Credit Quality due to below average cashflow and above average Debt Service Ratio.
This Investment Note pays an upper-medium Interest Rate and has an upper-medium Risk of Default.
It has a lower-medium Credit Quality due to average to low cashflow and average to high Debt Service Ratio.
This Investment Note pays a high Interest Rate and has a high Risk of Default.
It has a weak Credit Quality due to low cashflow and high Debt Service Ratio.
This Investment Note pays a higher Interest Rate and has a higher Risk of Default.
It has a weaker Credit Quality due to lower cashflow and higher Debt Service Ratio.
This Investment Note pays the highest Interest Rate and has the highest Risk of Default.
It has the weakest Credit Quality due to very low cashflow and very unhealthy Debt Service Ratio.