Comparison site iSelect's planned sale of its Asian investment, iMoney, has run into trouble as COVID-19 makes buyers wary.The company announced yesterday that it continues to work with interested parties to secure a sale but it expects to take a write-down on the carrying value of the investment if a transaction occurs now.iMoney was launched in 2012, with headquarters in Kuala Lumpur and operations in Malaysia, Singapore, Indonesia and the Philippines. It has a similar business model to iSelect's, offering access to a range of financial, insurance and telecommunications products using a comparison site format.iSelect made its initial investment in iMoney in 2014, paying US$4 million for a 23.8 per cent stake in the business. In 2017, it paid US$4.1 million to increase that stake to 51.5 per cent.At the time it increased its holding, iSelect said it was looking to invest a further US$4 million in the business.iMoney is a fast growing but loss-making business that requires investment funding. In the December half its revenue of A$3.3 million was up 52 per cent over the previous corresponding period but it made a loss of $2.5 million.At the company's annual general meeting last October, iSelect chair Chris Knoblanche said: "Our shareholding in iMoney remains an exciting investment and high growth opportunity. However, it is one that will require ongoing investment from iSelect. Taking on board feedback from our shareholders as well as our corporate strategy, we have decided to sell our stake and are currently working through this process."The planned sale of iMoney follows the sale of the Infochoice business last year.In the December half, the company suffered a 16.7 per cent fall in revenue - down from $74.2 million in the December half 2018 to $61.8 million in the latest half. Net cash flow from operating activities was $36,000 - down from $1.4 million in the previous corresponding period.It made a loss of $5.6 million, compared with a loss of $6.9 million in the previous corresponding period.