MoneyMax Holding More Ground Malaysia

Nov 20, 2017Updated Jun 4, 20251 min read

Malaysian pawnbroker MoneyMax Financial Services – an offshoot of the Singapore group that specialises in pawnbroking, retail and trading in pre-owned jewellery, watches and branded goods – is buying into 13 pawnbrokers in Malaysia.

It is acquiring interests in the traders from CMS Top Holdings for a consideration of RM56.6 million (US$13.5 million) through its wholly owned subsidiary Cash Online. The transaction is being funded through internal resources and will underwrite expansion of its pawnbroking network in Malaysia.

The target firms last year posted an aggregate net loss of about RM1.02 million, and have net tangible assets of about RM50.1 million.

Separately, Chong Mei Sang, which established a JV with MoneyMax in 2014, will acquire about 1.96 million shares in the capital of each target company, including Pajak Gadai Bukit Gambir and Pajak Gadai Senai.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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