Investor Information
Message from the CEO
Dear Investor,
As CEO of MONEY3 Corporation Limited, I have great pleasure in welcoming you to our new look website. The introduction of a more focused website to allow customers to apply for a loan on-line is testament to our expansion. We added 8 new physical locations in 2008 to make it easier for our customers to access us and we are adding the website to allow those customers that can’t make it into a branch the opportunity to apply from the convenience of their home, office or for that matter anywhere they can access the internet. As life gets busier we need to adapt the way we deliver our services for those people that can’t find the time to come into a branch.
For those of you who are new to the MONEY3 story, we commenced trading in 2000 as two family operated business and grew to nine branches in 2006 before listing on the ASX. Since listing we have added several branches and MONEY3 now have 20 branches in Victoria, New South Wales and Tasmania. We also have the MONEY3 Loan Centre specialising in secured loans for almost anything you can think of. MONEY3 has grown from a very niche short term lender to a more generalised lender specialising in customers that have difficulty accessing credit from conventional means.
I thank you for your interest in MONEY3 and welcome your thoughts, comments and suggestion on both our website and our company as a whole. Please feel free to send any suggestions to info@money3.com.au and myself or one of my team will contact you to discuss your ideas.
Yours faithfully
Robert Bryant
CEO
MONEY3 Corporation Limited
Business Overview
MONEY3 Corporation was established in November 2005 for the purpose of acquiring nine MONEY3 Trading Companies, each of which specialise in the provision of credit from separate locations in metropolitan Melbourne and Geelong. Since inception MONEY3 Corporation has expanded to 20 Branches throughout Tasmania, Victoria and New South Wales. In addition to the Branch network there is a Loan Centre specialising in secured loans for motor vehicles, boats, debt consolidation etc. These loans are typically secured.
MONEY3 specialise in the delivery of small cash loans between $100 and $20,000 with a focus on fast approval. Other services include cheque cashing, Insurance and international money transfers. Revenue is generated from fees and charges including loan application fees, credit fees, account keeping fees, cheque cashing fees and international money transfer fees.
Prior to consolidation, the MONEY3 Trading Companies traded independently under the name ‘Money Plus’ before becoming part of the MONEY3 Group. On 1 July 2006, all nine of the MONEY3 Trading Companies became wholly owned subsidiaries of MONEY3 Corporation.
The MONEY3 Group has a stable, experienced and professional senior management team which has had the benefit of a decade of dedicated service to customers in the short-term loans market. Management is committed to maintaining effective credit policies and, most importantly, has a firm commitment to integrity and providing exceptional customer service.
One of the keys to MONEY3’s success in growing its customer base is fast approval and immediate access to cash usually by way of the provision of a line of credit or personal loan. Tailored to a customer’s situation on a case by case basis, loans are assessed on what the customer needs the money for, the time they need to pay it back and the ability of the customer to service the borrowings. Loans are processed on the same day of application (usually within an hour) with cash, EFT or cheque payment given on approval.
Board of Directors
Bettina Evert BA LLB MAICD - Chairman and Non-Executive Director
Ms Evert is a director of Fetter Gdanski Pty Ltd, a commercial law practice established in 1995 and has been either a director or a partner of that firm since 1997. She is highly experienced in commercial law and litigation. She has advised various MONEY3 Trading Companies for some years. She was, prior to commencing at Fetter Gdanski, a senior solicitor on the work-out team after the collapse of the Tricontinental Bank in 1991 and worked as a senior solicitor at Telstra Corporation advising senior management in relation to corporate governance. Prior to joining Fetter Gdanski in 1996 Ms Evert was a director of Deloitte Touche Thomatsu.
Ms Evert is currently Deputy Chair of the Law Institute of Victoria (Executive Committee Litigation Section), the Chair of the Courts Practice Committee of the Law Institute of Victoria and a lay member of the CPA Australia Disciplinary Committee which hears professional disciplinary matters relating to members of CPA Australia. Ms Evert will sit on the Audit, Remuneration, Nomination and Lending Committees after listing on the ASX.
Christopher James Baldwin CPA - Company Secretary and Non-Executive Director
Mr Baldwin commenced work in 1960 for public accountants and has continued his accounting professional work in taxation, business and consultancy in Shepparton as a principal. He currently heads the public accounting practice of Brown Baldwin in Shepparton and Melbourne. Mr Baldwin has extensive experience in business matters, including taxation and accounting. He has assisted in the promotion and development of the MONEY3 business and advised the MONEY3 Group and its Directors.
Chris had an ownership interest in four of the MONEY3 Trading Companies prior to being acquired by MONEY3. He will sit on the Audit, Nomination, Remuneration and Lending Committees after listing on the ASX.
Robert James Bryant - Chief Executive Officer and Executive Director
Mr Bryant has been a company director since July 1995 and is the major Shareholder in MONEY3. Before entering the financial services industry in June 2000, he was predominantly involved in agricultural related industries for over 25 years. The shift to financial services in 2000 saw Mr Bryant commence a small cash loans franchise in
Victoria. Dissatisfaction with operating procedures of that business led to the creation of Money Plus.
Mr Bryant’s responsibilities included directing the formation of Money Plus together with legal management and governance, regulation and compliance, expansion and public and government relations for Money Plus. With the help of investor support, Mr Bryant established eight of the MONEY3 Trading Companies in Melbourne and Geelong and held significant shareholdings in each of the eight MONEY3 Trading Companies prior to being acquired by MONEY3.
Kang Hong Tan ACA (UK) PNA (Aus) - Chief Financial Officer and Executive Director
Mr Tan has been a member of the Institute of Chartered Accountants in England and Wales since 1983 as well as the National Institute of Accountants in Australia since 1998. Mr Tan spent ten years as an Accountant with La Trobe University Union and seven years as an owner operator of a Pizza Haven franchise in Thornbury, Victoria.
Before coming to Australia, in Malaysia Mr Tan was the Group Financial Controller of Tanming Corporation Berhad for four years. Mr Tan established his first small cash loan branch in Glenroy, Victoria in August 2000. He has been the architect for the policies and procedures of the MONEY3 Group with a strong attention to detail and knowledge of the industry. Mr Tan held an ownership interest in four of the MONEY3 Trading Companies prior to being acquired by MONEY3.
Mr Tan has jointly developed the computer systems and oversees all operating systems of MONEY3. He will sit on the Lending Committee after listing on the ASX.
Scott Baldwin B. Eng (Hons) M.B.A. – Chief Operation Officer and Executive Director
Mr Baldwin joined MONEY3 in April 2008 as the Chief Operating Officer. Prior to joining MONEY3 Mr Baldwin held various positions working for Datex-Ohmeda, acquired by General Electric, over a 10 year period. Most recently these positions included working on the General Electric mergers and acquisitions team. Leading infrastructure projects across Asia for warehousing, customer relationship management software and Sales & Service management processes. He also held the position of Marketing Manager Asia - Information Technology for the Monitoring Solutions business of General Electric prior to leaving.
Mr Baldwin brings a solid understanding of technology, sales & marketing to the MONEY3 board. He is currently leading the effort of implementing technology to improve efficiencies in the MONEY3 operation. As well as leading the Loan Centre, Debt Recovery, Human Resource and Marketing functions in MONEY3.
Board, Management and Corporate Governance
The Board recognises the importance of good corporate governance and establishing accountability of both the Board and management. The Company has undertaken a review of its governance framework, policies and practices to ensure where practicable without incurring substantial costs given the size of the Company, they are consistent with the ASX recommendations. As a result of the review, the Board is satisfied with the Company’s application of the principles in the ASX recommendations, and that the Company’s corporate governance framework, policies and practices will ensure the continued effective management and operation of the Company.
The Company’s corporate governance policies centre around the Board, the Board committees and the principles that govern their interaction with, and oversight of, management. The Company’s corporate governance framework, policies and practices will remain under regular review as expectations and requirements develop. In addition, the Board will comply with ASX Listing Rule 4.10 which requires the Company to provide a statement in its annual report disclosing the extent to which those best practice recommendations have been followed in any reporting period and identify any recommendations that have not been followed as well as providing reasons for this.
About MONEY3 Corporation
MONEY3 Corporation started as two family businesses operating in Glenroy and Northcote in Melbourne, Victoria by Kang Tan and Robert Bryant. Both wanted to run their own business and had thought buying a business model from a larger franchisor would be the way to go. However, after 6 months of operating the franchised business many disagreements between the franchisor and Kang & Rob started. There was a clear disagreement in the value of the customer and business model the then franchisor insisted they work under. The frustration lead to the termination of the franchise agreement and the establishment of the Money Plus brand which Kang and Rob worked under for some years prior to changing to MONEY3 when the decision was made to list the company on the ASX.
The MONEY3 story is one of many challenges and changes; changes in name, changes in business model, changes in legislation but most of all it is a story of doing what you love. Passion for the business and a commitment to providing customers with a fair go and exceptional customer service has always been at the forefront of MONEY3. From the first day back in June 2000 Kang and Rob asked customers what they want and then adapted MONEY3 products accordingly. The questioning of what customers want continues today and is probably the greatest reason why word of mouth continues to be the best form of referral. Almost 50% of MONEY3 customers are referred by an existing customer.
From the humble beginnings of two franchised business MONEY3 has grown to 20 branches and a loan centre which handles larger and secured loans. Along the way the business has also grown from the two directors and their families to a staff of over 60, the secret to continued success is employing people who understand the customers.
MONEY3 continues to provide loans for any purpose and pride themselves on their flexibility and customer service.
