MoneyMax Financial Services, freshly named Overall Sector Winner (Consumer Cyclical) in The Edge Singapore’s Centurion Club, is doubling down on a modern, community-focused model of secured lending and luxury retail across Singapore and Malaysia. 

“This award is a testament of our company’s commitment to excellence and innovation. It not only reinforces the trust and confidence our customers and stakeholders place in us, but also further strengthens our branding in the pawnbroking industry,” says Lim Yong Guan, executive chairman and CEO. “For our team, this is also an acknowledgement of their hard work, talent and dedication. We hope this award will motivate our employees to continue innovating and striving for excellence.”

Lim frames MoneyMax’s purpose simply: “Our mission is to provide hassle-free, affordable financial solutions to the underserved and unbanked community, with a focus on innovation and customer experience, while also giving back to the society.” He adds that the group has evolved into a comprehensive financial services provider, expanding beyond traditional pawnbroking into segments such as luxury retail, automotive financing, and property-backed financing.

The emphasis on inclusion and responsible advice is deliberate. Lim elaborates that the group’s aim is to support underbanked customers by offering flexible loan options and competitive interest rates. 

“We provide advice based on their real needs — sometimes a smaller loan is all that’s required to tide them over,” says Lim, noting that this approach, together with online renewals, has kept forfeiture rates relatively low. “Many of our customers see us as a trusted friend rather than just a service provider… With over 100,000 customers today, this loyalty affirms our mission of giving people hope when they need it most.”

See also: A rejuvenated Singapore market, a reset for The Edge Singapore

mute
Lim stresses a long-term mindset: “Our goal has never been short-term profits, but sustainable growth and market leadership.” He points to a track record of firsts, including the launch of MoneyMax Online Service in 2015 and its pioneering role in introducing drive-thru pawnshops in Malaysia from 2022, becoming one of the earliest adopters and operating one of the largest networks to bring convenience, security and privacy to its customers.

Disciplined expansion

MoneyMax now operates more than 100 outlets across Singapore and Malaysia, with growth driven by new store openings and selective acquisitions that bring quality loan books and strategic locations. “Pawnbroking serves an essential community financial service,” says Lim. He sees significant growth potential for the group’s business in the two key markets, and will prioritise maximising opportunities in these markets first before exploring regional expansion.

Acquisitions will remain a tool to accelerate share gains across existing and potentially new markets. The group looks for “good-quality pledged loan books” and stores “located in strategic areas with high footfall and wide customer reach” to expand efficiently into new vicinities while tapping established customer bases.

See also: From momentum to transformation: Building a relevant stock market

Meanwhile, the group is also mindful that diversification complements the core pawnbroking engine. Real estate and car financing use the same funding pool to offer liquidity solutions, while the retail and trading arm provides sales channels for brand-new and pre-loved jewellery, luxury timepieces and branded bags, alongside a resale path for forfeited items. In Singapore, the co-located retail façade gives rise to a contemporary and modern facelift to the once traditional pawnbroking industry.

This model has delivered scale and resilience across the cycle. Lim observes that demand tends to be steady regardless of economic conditions, as customers either monetise valuables to pursue opportunities or pledge assets for temporary liquidity. Asset-backed financing is also gaining acceptance among a broader demographic, including small-business owners who need quick, secured credit.

Modernising a traditional trade

Lim is direct about changing outdated perceptions. “By positioning our counters discreetly within luxury retail jewellery shops, we minimise any negative stigma associated with visiting a pawnshop — customers appear as though they are shopping for jewellery,” he says. The Malaysian drive-thru model addresses practical pain points in high-traffic locations: “Drive-thru facilities allow customers to transact conveniently, securely and privately without leaving their cars… This eliminates parking challenges, reduces safety concerns and enables transactions to be completed within minutes and discreetly without public visibility.”

Customer communications are intentionally transparent, as staff provide reminders when pledges are due, explain terms and interest clearly and advise responsibly on loan sizing. Lim also underscores the group’s professionalisation of industry practices, including internal audit and compliance, robust training in authentication and valuation, and the development of younger talent across frontline roles.

Digitalisation supports this service model, allowing customers to renew pawn tickets, pay interest or repay loans online via PayNow or debit cards, browse the e-store for jewellery with delivery, and obtain indicative valuations online. Data informs lending decisions and retail assortment, while chatbots speed up response times and personalise interactions across e-commerce.

Pledging remains a physical process under regulation, although MoneyMax’s app already offers online valuation and secure payments. “Looking ahead, we are exploring the use of AI and automation to further enhance customer engagement and operational efficiency,” says Lim.

Lim shares that while MoneyMax’s customers have the option to sell their items outright — which allows them to obtain higher value — many choose to pawn instead, as they intend to redeem their items at a later date. Pawning serves as a short-term financing solution for needs ranging from medical bills to car expenses. That behaviour, together with proactive reminders, supports relatively low forfeiture rates. Retail customers are also gravitating to pre-loved items as investable assets and gifts, with personal and corporate gifting adding to demand for gold gifts. The result is a broader, more digital-savvy customer base across the region.

Record 1HFY2025 and outlook

MoneyMax reported a 78.8% rise in 1HFY2025 ended June 30 earnings to $29.6 million from $16.6 million a year ago, with revenue up 31.2% y-o-y to $243.0 million. The growth was led by higher contributions from the group’s pawnbroking and retail segments. Cash and cash equivalents stood at $17.6 million as at Jun 30 2025.

These segment trends align with what Lim is seeing on the ground. “In 1HFY2025, pawnbroking revenue increased 7.3% due to higher interest income from an expanded pawnbroking receivables portfolio. For the retail and trading of gold and luxury items business, 1HFY2025 revenue grew 43.2%, driven by higher gold prices and increased retail and trading volumes,” he says, adding that new product launches and service focus have also supported retail momentum.

On the regulatory front, Lim highlights monthly interest caps of 1.5% in Singapore and 2.0% in Malaysia, designed to safeguard customers and keep services affordable and transparent. The group positions itself as a community lender filling a gap traditional banks do not serve, with secured loans against customers’ own valuables rather than unsecured credit. 

Strategically, management intends to sustain momentum through organic expansion in its two core markets, complemented by selective acquisitions and a focus on productivity and cost efficiency. Industry-wide digital adoption and the continued appeal of gold as a resilient asset class are tailwinds the group aims to capture. Over the next one to five years, priorities include acquisitions, store openings, store modernisation, enlarging the drive-thru network in Malaysia, deeper digital engagement and further growth in automotive and property-backed financing.

Lim keeps in mind these first principles: responsible lending, service transparency, trust and professionalism. “There should be no stigma in walking into a pawnshop, as it is a way of encashing assets,” he says. With more customers choosing secured, short-term financing to bridge everyday needs or to optimise investment timing, he sees the company’s role as both practical and timely. 

“We position ourselves as a community lender with a Southeast Asian focus, helping customers who require quick and short-term financing. Our loans are secured against customers’ own valuables, providing access to liquidity without the need for complex credit checks — a gap that traditional banks do not serve,” says Lim.

That stance, he adds, is why the business has endured across cycles. “During economic downturns, demand rises as customers seek short-term liquidity. Conversely, in periods of growth and rising asset prices, customers monetise valuables to capture investment opportunities,” says Lim. With a larger store network, diversified revenue engines and a growing digital footprint, MoneyMax is positioning itself for another leg of growth in its home markets.