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Moneymax buys local pawnbroker for $3.3 mil

PC Lee Published on Mon, Jun 18, 2018 / 6:20 PM GMT+8

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SINGAPORE (June 18): Moneymax Financial Services is strengthening its position in the local pawn-broking industry through the acquisition of Ban Joo Pawnshop for $3.3 million in cash.

Incorporated in 2011, Ban Joo carries on a licensed pawn-broking business at #01-15 Block 1, Tanjong Pagar Plaza.

The net tangible assets (NT) and net asset value (NAV) of Ban Joo as at Dec 31 2017 was $3.2 million.