But not nicer than CTOS Digital, Malaysia’s top credit bureau
I'm Korean and know NICE is kinda oligopoly corporate. If you satisfied with LSD growth, it could be a NICE choice. They accuired some weird business because of LSD growth rate tho.
Very nice! I also think it's a good quality business.
Keeping it on my shortlist now.
Let's see how the growth rate trends, and how Vietnam grows!
Really interesting read.
I particularly like your use of household credit as a proxy for loan volume (I will be stealing this in future… thank you!)
I looked into this company a bit myself.
NICE holdings owns roughly 44% of NICE information services.
NICE information services currently has a market cap of 871.46B KRW and NICE Holdings has a market cap of 474.72b KRW.
So, if you purchase NICE holdings you deduct their stake in NICE information service, you essential get the rest of their portfolio for 91.28B KRW
Thanks for your kind words!
Data for July 2026 is out. Household loans grew, but at a slower pace: https://biz.chosun.com/en/en-finance/2026/08/14/XSVN7S2RL5EZFCKMO632XNYZFM/
Thanks for highlighting NICE Holdings! I heard of it, but didn't look into it in detail.
What do you think of capital allocation at NICE Holdings?
From my experience with Haw Par, holding companies discount is required when the holdco unreasonably withholds cash from minority shareholders.
https://www.angsanaanderson.com/p/haw-par-right-for-the-wrong-reasons?r=5rl2u5
I'm Korean and know NICE is kinda oligopoly corporate. If you satisfied with LSD growth, it could be a NICE choice. They accuired some weird business because of LSD growth rate tho.
Very nice! I also think it's a good quality business.
Keeping it on my shortlist now.
Let's see how the growth rate trends, and how Vietnam grows!
Really interesting read.
I particularly like your use of household credit as a proxy for loan volume (I will be stealing this in future… thank you!)
I looked into this company a bit myself.
NICE holdings owns roughly 44% of NICE information services.
NICE information services currently has a market cap of 871.46B KRW and NICE Holdings has a market cap of 474.72b KRW.
So, if you purchase NICE holdings you deduct their stake in NICE information service, you essential get the rest of their portfolio for 91.28B KRW
Thanks for your kind words!
Data for July 2026 is out. Household loans grew, but at a slower pace: https://biz.chosun.com/en/en-finance/2026/08/14/XSVN7S2RL5EZFCKMO632XNYZFM/
Thanks for highlighting NICE Holdings! I heard of it, but didn't look into it in detail.
What do you think of capital allocation at NICE Holdings?
From my experience with Haw Par, holding companies discount is required when the holdco unreasonably withholds cash from minority shareholders.
https://www.angsanaanderson.com/p/haw-par-right-for-the-wrong-reasons?r=5rl2u5