MoneyMax to acquire stakes in 13 entities of Malaysian pawn broker for total $18.3 mil

SINGAPORE (Nov 14): MoneyMax Financial Services’ wholly-owned subsidiary Cash Online has entered into sale and purchase agreements to acquire interests in 13 entities of a pawn broking chain in Malaysia for a total of MYR 56.6 million ($18.3 million).

Cash Online will acquire some 2.04 million shares in the capital of each of the 13 entities: Pajak Gadai Bukit Gambir, Pajak Gadai Bukit Mertajam, Pajak Gadai Butterworth, Pajak Gadai Kulai, Pajak Gadai Malim Maju, Pajak Gadai Masai, Pajak Gadai Pagoh, Pajak Gadai Pasir Gudang, Pajak Gadai Rengit, Pajak Gadai Semabok, Pajak Gadai Simpang Renggam, Pajak Gadai Sungai Pentani, and Pajak Gadai Senai.

The proposed acquisitions will be funded via the group’s internal resources.

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