News linked to both this project and an event.
Odaily reports: S&P Global Ratings released a report on Thursday, assigning UK digital bank Revolut a BBB+ investment-grade rating for the first time, and expects the company to issue senior unsecured bonds in 2027 to build a debt buffer capable of absorbing potential losses and meeting regulatory requirements. The report noted that Revolut's balance sheet has exceeded £40 billion (approximately $53.5 billion); should the bank fail, the Bank of England could push for a restructuring in which investors would bear corresponding losses.S&P expects that as Revolut expands its unsecured retail lending business and launches mortgage products, its loan portfolio will double in 2027 and double again in 2028. S&P believes that Revolut has a strong consumer brand, a scalable technology platform, and increasingly diversified products, but its share of primary banking relationships remains lower than that of traditional banks, and rapid global expansion could also exacerbate operational complexity and compliance risks. BBB+ is among the lower tiers of S&P's investment-grade ratings. (Bloomberg)
According to Hong Kong media outlet HK01, Hong Kong-based "BBB Group (Chinese name: Hao Hao Hao Group)" claims to have invested in Malaysia's agarwood industry and sells OTC stocks and digital assets in what appears to be a scam. The company stated it will convert its OTC stocks into "digital asset" cryptocurrencies by February 2027 or earlier. The Hong Kong police have received reports from 21 individuals concerning the investment project, involving funds of 14 million yuan. The Commercial Crime Bureau is investigating on suspicion of "conspiracy to defraud," and has launched an arrest operation, with four people arrested so far. Meanwhile, according to the official website of Hong Kong's Securities and Futures Commission, the "Malaysian Agarwood Plantation Investment / Agarwood Tree Plan / Agarwood Potted Trees / APT4.0" has been listed as a suspicious investment product.