MoneyMax Financial Services (SGX:5WJ
) has applied to the Singapore Exchange Securities Trading Limited (SGX-ST) to transfer to the Mainboard on Jan 14.
A Mainboard listing would enhance long-term value for the company’s shareholders and boost its image locally and overseas. According to MoneyMax, public investors tend to accord a premium to Mainboard-listed companies compared to Catalist-listed firms.
A Mainboard listing would also provide MoneyMax with a wider platform and greater opportunities for future fund raising. In addition, the company would be able to have access to a larger and more diverse investor market, including institutional and overseas investors. “This will facilitate and enable the company to better tap into both the equity and debt capital markets to meet the group’s funding requirements when needed and provide the group with greater flexibility to pursue growth opportunities both locally and overseas.”
MoneyMax first listed on the Catalist board on Aug 2, 2013. Since its listing, the company has grown substantially and expanded its network of services and businesses.
It has also grown its earnings consistently, with net profit attributable to owners of the parent at $19.8 million in FY2021 ended December to $38.2 million in FY2024. In the 1HFY2025, MoneyMax reported earnings of $29.6 million.
“MoneyMax has delivered strong and consistent growth in its performance over the years, underpinned by disciplined execution, continuous innovation and our ability to stay ahead of market trends and evolving lifestyle needs,” says Dato’ Sri Dr. Lim Yong Guan, the company’s executive chairman and CEO. “Our submission of the application for the proposed listing transfer reflects the progress we have made as a group and our confidence in the long-term prospects of our business.”
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He adds that the proposed transfer is an “important step” as it will provide the group with “greater visibility and recognition in the capital markets and amongst public investors, strengthen investor confidence and better position the group to access opportunities”.
MoneyMax currently has 110 outlets across Singapore and Malaysia, which makes it one of the largest pawnbroking and retail networks in the region.
Shares in MoneyMax closed 0.5 cents higher or 1.01% up at 50 cents on Jan 14.
