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MoneyMax Expands Regionally Into Malaysia

MoneyMax signed a joint venture with Malaysian jeweller, Mr. Chong Mei Sang for a majority stake in the firm in July 2014, marking the start of MoneyMax’s regional expansion and venture into the Malaysian market. This joint venture will immediately expand MoneyMax’s store network from 38 to 45, making the group the largest pawnbroking chain in Singapore and Malaysia.

Leveraging on its strong business know-how, branding efforts and the best practices in systems and processes, the listed pawnbroker hopes to introduce modern pawnbroking into Malaysia and transform the pawnbroking landscape there. MoneyMax will continue to grow and retain strong market share and presence in Singapore while exploring potential partnerships to expand locally and regionally.