Question 1

How do I make payments?

Accepted Answer

All payments can be made on Capsphere’s platform through the Issuer's dashboard.
 
All Issuers are required to make payments on a monthly basis according to the dates and amounts specified in the payment schedule, found within their respective Issuer Agreement.

Issuers are required to make payments prior to the cut-off point of 11:00 a.m. GMT+8 on the payment due date. Any payments made after this time will be considered late.
 
The following payment methods will be accepted:
FPX (online payment gateway): Issuers may pay through FPX-participating banks as listed under PayNet’s site.
Bank transfer: Issuers may pay to Capsphere’s Collection Trust Account. The Account details will be provided in the Issuer Agreement.

You can refer to the step-by-step guide on how to make a payment here.

Question 2

Can Issuers pay the Note in full before the agreed tenure? Will there be any discount?

Accepted Answer

Yes, you are allowed to pay the full amount of the Note earlier than the agreed tenure.
 
To do so, please submit a Pre-payments Request via e-mail to contact@capsphere.com.my. The Pre-payments Request must be submitted by the Issuer at least 30 days prior to the proposed redemption date.
 
When submitting a Pre-payments Request, the following information should be provided by the Issuer:
Investment Note ID 
Proposed Redemption Date
Redemption Amount (in RM)
Pre-payments may only be requested for the full amount outstanding for the Investment Note.
 
If your Pre-payments Request is approved, you will be notified with instructions to make payment. Issuers will be provided with a discount on the remaining interest that is due. Please note that:-
Principal must be paid in full.
All Pre-payments will be subject to an administrative and processing fee. ​

Question 3

What happens when there is a late payment? Do Issuers have to pay a late payment fee?​

Accepted Answer

We have a very rigorous policy for monitoring monthly payments.
 
Our systems will flag payments that are paid late, which will mobilise our team to take action to resolve the issue. Once there is a late payment flag, we will liaise with the Issuer to ensure that the late payment is paid back into the account within 7 days, otherwise a late payment charge will be incurred.
 
We pay special attention to recurring late payments through our special monitoring procedure. The late payment charge is calculated based on the number of days late, and some part of it will be credited to Investors as part of compensation for the delay.
 
More information on late payment charges can be found in our Terms & Conditions.​ ​

Question 4

​What happens when the Issuer can’t pay?

Accepted Answer

​In the event that an Issuer faces an internal or external disruption to their business, and is unable to make payments on time, Issuers may submit a Restructuring Request via e-mail to contact@capsphere.com.my.
 
A Restructuring Request must be submitted by the Issuer at the earliest opportunity, when the need for Restructuring has been identified. When submitting a Restructuring Request, the following information should be provided by the Issuer:

Investment Note ID; Valid reason(s) for restructuring
Any documentation and evidence to support this (these) reason(s)
Any requested change(s) to the Investment Note's tenure
Any requested change(s) to monthly payment amounts

Capsphere will process the Restructuring Request and will likely request for a meeting, should it be required.
 
Until approval of the Restructuring Request, Issuers are still required to adhere to the original payment schedule as set out in the Issuer Agreement. Therefore, it is important to provide early notice for a Restructuring Request. Issuers may be charged an administrative fee of 1% of outstanding of the Investment Note for restructuring.
 
All Investors of the Investment Note will be notified as and when an Issuer requests for Restructuring, and once the Restructuring process has completed.

Question 5

What happens if the Issuer defaults? How do you liquidate the asset when this happens?

Accepted Answer

​As soon as a problem with repayments has been identified, we will take every effort to get Issuers back on track, for example, through restructuring their Investment Note in circumstances where this is required.
 
However, in some instances there will be defaults. Given that the Investment Note is asset-backed, we can seize (take ownership of) the asset financed and resell the asset in secondary markets.
 
We have a network of resellers/secondary market platforms that we will partner with to resell the assets that are used as collateral on our platform. Once we get the proceeds from reselling the assets, we will repay the Investors based on the pro-rated amount invested in the Investment Note.

Question 6

How do you handle non-performing Notes?

Accepted Answer

The Capsphere team does its best attempt to lower the probability of non-performing Notes by:-

Performing initial screenings during the application stage.
Constant monitoring of Issuer’s payments. 
Considering rescheduling/restructuring of the payment terms to Issuers that have delayed payments.  
Ensuring each Investment Note is secured with an asset. 
 
If the Issuer fails to comply, we will classify their Investment Note as default and take legal action against the Issuer.

Question 7

How will Capsphere liquidate the asset?

Accepted Answer

We leverage on our management team’s and directors’ vast experience, contacts, and expertise in various fields to liquidate an asset.
 
We will tap into multiple avenues, such as:
Online platforms
Second hand dealers
Contacts within the industry

To ensure that we transact at the most efficient price in the market, we also engage a third-party recovery firm to assist us with the process.

Issuer's FAQ

How do I make payments?

Can Issuers pay the Note in full before the agreed tenure? Will there be any discount?

What happens when there is a late payment? Do Issuers have to pay a late payment fee?

What happens when the Issuer can’t pay?

What happens if the Issuer defaults? How do you liquidate the asset when this happens?

How do you handle non-performing Notes?

How will Capsphere liquidate the asset?

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Issuer's FAQ

How do I make payments?

Can Issuers pay the Note in full before the agreed tenure? Will there be any discount?

What happens when there is a late payment? Do Issuers have to pay a late payment fee?​

​What happens when the Issuer can’t pay?

What happens if the Issuer defaults? How do you liquidate the asset when this happens?

How do you handle non-performing Notes?

How will Capsphere liquidate the asset?

Legal

What happens when there is a late payment? Do Issuers have to pay a late payment fee?

What happens when the Issuer can’t pay?