| Latest Forum Topics / MoneyMax Fin Last:0.42 -- |
 Post Reply
|
|
Moneymax Financial Services
|
|
|
Joelton
Supreme |
14-Mar-2025 09:40
|
|
x 0
x 0 Alert Admin |
MoneyMax closes three digital tokens total proceeds amount to $67.7 mil
MoneyMax has raised about $67.7 million in gross proceeds from the issuance of three digital security tokens on the ADDX platform, which closed on March 13.
The pawn brokering company issued the Series 011 Tokens, the Series 012 Tokens and the Series 013 Tokens as part of its $100 million unsecured commercial paper programme on Jan 9, 2023, Sept 24, 2024 and Feb 28, 2025 respectively.
Subscribers of the Series 011 Tokens include individuals who have a direct controlling stake in the company. Lim Yong Guan, executive chairman and CEO controlling shareholder and sister of the CEO Lim Liang Eng COO and spouse of the CEO Tan Yang Hong are among the few who have collectively subscribed for $14.48 million or 33.06% of the tokens.
Subscribers of the Series 012 Tokens also include the CEO and COO, Lim Yong Sheng, who collectively subscribed for $15.46 million or 69.77% of the notes.
Subscribers of the Series 013 Tokens include COO and spouse of the CEO Tan Yang Hong, who subscribed for $0.06 million or 3.45% of the notes.
|
| Useful To Me Not Useful To Me | |
|
Joelton
Supreme |
27-Feb-2025 10:29
|
|
x 0
x 0 Alert Admin |
MoneyMax reports higher earnings of $38.2 mil for FY2024, up 68.6% y-o-y
MoneyMax has reported earnings of $38.2 million for the FY2024 ended Dec 31, 2024, up 68.6% y-o-y. For the 2HFY2024, earnings also grew 67.1% y-o-y to $21.6 million.
Earnings per share for FY2024 stood at 8.64 cents per share, up from the 5.13 cents per share reported in the same period a year ago.
The group recorded a revenue of $390.1 million for the FY2024, up 36.5% y-o-y. Revenue for the 2HFY2024 also grew 31.2% y-o-y to $204.9 million.
The group&rsquo s largest revenue contributor, the retail and trading of gold and luxury items, contributed $266.6 million in FY2024, a 36% y-o-y growth. This is due to increased sales volume supported by higher gold prices.
Pawnbroking also saw robust growth, with revenue climbing 47.3% y-o-y. This is due to higher interest income from the expanded pawnbroking receivables portfolio.
The group says that Singapore remains its largest market, with a revenue contribution of $339 million in FY2024.
The group proposed a final cash dividend of 1.4 cents per share in FY2024.
|
| Useful To Me Not Useful To Me | |
|
|
|
|
hopeful7703
Member |
27-Feb-2025 09:45
|
|
x 0
x 0 Alert Admin |
MoneyMax&rsquo s profit after tax jumps by 65.4% to S$41.6 million in FY2024, marking another set of record performance - Growth across the pawnbroking, retail and trading of gold and luxury items and secured lending business segments drove a 36.5% increase in revenue to S$390.1 million in FY2024 - The Group has proposed a final ordinary cash dividend of 1.4 Singapore cent per share in respect of FY2024 - The Group is well positioned to continue its growth trend as a key market player across all its business segments Dato&rsquo Sri Dr. Lim Yong Guan, Executive Chairman and Chief Executive Officer of MoneyMax, commented, &ldquo FY2024 was a record year for us, marked by historic highs in both revenue and net profits. This exceptional achievement was made possible by the robust performance across all our business segments, driven by the exceptional execution of our business strategy. As we look ahead, we remain committed to expanding our network of outlets across Singapore and Malaysia, ensuring we meet the evolving needs of our customers. Staying true to our customer-centric and innovative ethos, the Group will continue to explore new opportunities to elevate customer experience and service standards, delivering even greater value to those we serve. Moving forward, our focus will remain on strengthening our brand equity, enhancing our capabilities, and driving sustainable growth across all business segments.&rdquo https://links.sgx.com/FileOpen/MoneyMax_FY2024_Press_Release_Final.ashx?App=Announcement& FileID=834488 |
| Useful To Me Not Useful To Me | |
|
MrBear12
Supreme |
14-Aug-2024 00:06
Yells: "Peace and goodwill to all" |
|
x 0
x 0 Alert Admin |
MoneyMax achieves a record performance in 1H-2024, with profit after tax increasing by 64.4% to S$18.0 million &bull Revenue jumped by 43.0% to S$185.2 million in 1H-2024, driven by the growth in the pawnbroking, retail and trading of gold and luxury items and secured lending business segments &bull The Group is committed to fostering steady development across all business segments Singapore, 13 August 2024 &ndash MoneyMax Financial Services Ltd. (&ldquo MoneyMax&rdquo or the &ldquo Company&rdquo and, together with its subsidiaries, the &ldquo Group&rdquo ), one of the leading pawnbroker, retailer and trader of pre-owned luxury items, announced another record set of results for the six months ended 30 June 2024 (&ldquo 1H-2024&rdquo ). Financial Highlights S$ 1H-2024 (change over 1H 2023) Revenue 185,169,000 (+43.0%) Profit before income tax 22,588,000 (+63.8%) Profit for the period 18,045,000 (+64.4%) Profit for the period attributable to shareholders 16,576,000 (+70.6%) The retail and trading of gold and luxury items segment remains the Group&rsquo s largest revenue contributor, contributing S$131.1 million in revenue, marking a remarkable 50.7% increase from S$87.0 million in 1H-2023. The pawnbroking and secured lending segments also demonstrated healthy growth, with revenue rising by 32.2% to S$40.3 million and by 15.2% to S$13.6 million respectively in 1H-2024. Singapore, the Group&rsquo s largest market, delivered a strong performance in 1H-2024, with revenue increasing by 44.4% to S$164.2 million. Meanwhile, the Malaysian market increased its growth momentum, achieving a 32.9% rise in revenue to S$21.0 million in 1H-2024. With this positive set of results, the Group achieved a profit attributable to shareholders of S$16.6 million in 1H-2024, marking a significant double-digit growth of 70.6% from S$9.7 million in 1H-2023. These results underscored the Group&rsquo s successful execution of its strategy in both geographical markets. |
| Useful To Me Not Useful To Me | |
|
Joelton
Supreme |
05-Jun-2024 10:14
|
|
x 0
x 0 Alert Admin |
MoneyMax to raise $15 mil to $20 mil from digital security tokens
MoneyMax has launched its Series 008 tokens under its $100 million unsecured commercial paper programme.
The tokens will bear an interest rate of 5.25% per annum and will mature three months from the date of issuance.
The company says it expects to raise $15 million to $20 million from the tokens, which will be issued to accredited and institutional investors and listed on the ADDX Exchange.
|
| Useful To Me Not Useful To Me | |
|
|
|
|
MrBear12
Supreme |
14-May-2024 08:45
Yells: "Peace and goodwill to all" |
|
x 0
x 0 Alert Admin |
Going xd today |
| Useful To Me Not Useful To Me | |
|
MrBear12
Supreme |
28-Mar-2024 14:52
Yells: "Peace and goodwill to all" |
|
x 0
x 0 Alert Admin |
Yep. Don't like the leverage of this company and similar ones. |
| Useful To Me Not Useful To Me | |
|
Alignment
Master |
28-Mar-2024 14:39
|
|
x 0
x 0 Alert Admin |
Gold in absolute terms is not that volatile - many asset classes move a lot more. The issue is that gold is more volatile than many people think it is, and as a result borrow more leverage against it than they should. This has been the downfall both of many individual investors (using margin lending) and corporates like moneylenders and pawnbrokers (who in particular should know better). |
| Useful To Me Not Useful To Me | |
|
|
|
|
MrBear12
Supreme |
28-Mar-2024 13:38
Yells: "Peace and goodwill to all" |
|
x 0
x 0 Alert Admin |
Gold should hold up this company. But beware Gold's volatility |
| Useful To Me Not Useful To Me | |
|
hopeful7703
Member |
29-Feb-2024 19:29
|
|
x 0
x 0 Alert Admin |
MoneyMax&rsquo s profit before taxation increased by 7.7% to S$32.0 million in FY2023, marking another record-setting year
Singapore, 29 February 2024 &ndash MoneyMax Financial Services Ltd. (&ldquo MoneyMax&rdquo or the &ldquo Company&rdquo and, together with its subsidiaries, the &ldquo Group&rdquo ), one of the leading pawnbroker, retailer and trader of pre-owned luxury items, achieved another record-breaking financial performance for the full year ended 31 December (&ldquo FY&rdquo ) 2023. Dato&rsquo Sri Dr. Lim Yong Guan, Executive Chairman and Chief Executive Officer of MoneyMax, commented, &ldquo Our FY2023 results underscore yet another record-breaking year for MoneyMax, showcasing the successful execution of our strategy and the resilience of each business segment. The Group is reaping the rewards of our commitment towards constantly innovating and investing in our businesses throughout the years. In our pursuit to continuously grow the Group&rsquo s business and revenue streams, we have solidified our market position with 100 outlets in Singapore and Malaysia. In addition, the Group has also expanded our secured lending business segment by diversifying into the provision of property financing by leveraging on the network and knowledge we have developed over the years in the financial services industry. We believe that these strategic moves will contribute significantly to the Group&rsquo s future growth.&rdquo |
| Useful To Me Not Useful To Me | |
|
Joelton
Supreme |
02-Nov-2023 11:05
|
|
x 0
x 0 Alert Admin |
MoneyMax to raise up to $15 mil via digital security tokens
Pawnbroker MoneyMax Financial Services 5WJ 0.00% has launched its Series 005 Tokens under its commercial paper programme on the ADDX Exchange.
The issuance will bear an interest rate of 5.25% per annum and will mature four months from the date of issuance.
The company expects to raise between $10 million to $15 million from accredited and institutional investors.
|
| Useful To Me Not Useful To Me | |
|
Joelton
Supreme |
05-Aug-2023 11:57
|
|
x 0
x 0 Alert Admin |
MoneyMax posts 19.4% y-o-y lower profit before tax of $13.8 mil for 1HFY2023
Revenue, meanwhile, fell 4.4% y-o-y to $129.5 million over the same period.
Earnings per share stood at 2.2 cents at the end of the period, down 24.8% y-o-y from 2.92 cents this time last year.
Net asset value of the group, meanwhile, stood at 30.42 cents as at June 30, up from 29.67 cents on Dec 31, 2022.
No dividend has been declared for 1HFY2023 as the group seeks to retain cash in the current economic environment. &ldquo The board of directors of the company will assess if a declaration of dividends is warranted based on the performance of the group for FY2023,&rdquo says MoneyMax on Aug 4.
As at June 30, current assets rose 7.9% to $464.9 million, while non-current assets grew 0.8% y-o-y to $200.9 million.
Current liabilities, meanwhile, grew 8.6% y-o-y to $385.0 million as at June 30.
Net cash generated from operating activities before changes in working capital in 1HFY2023 was $31.0 million.
Net cash used in working capital amounted to $39.8 million. This was mainly due to an increase in trade and other receivables of $47.0 million, an increase in other assets of $1.4 million and a decrease in trade and other payables of $2.7 million offset by a decrease of inventories of $11.3 million.
Net cash used in operating activities amounted to $12.2 million after deducting income tax paid of $3.4 million in 1HFY2023.
Net cash used in investing activities in 1HFY2023 amounted to $1.4 million, mainly due to the purchase of plant and equipment and business software application systems for new and existing stores.
Net cash generated from financing activities in 1HFY2023 of $12.4 million was mainly due to drawdown of new bank borrowings of $171.3 million, partially offset by dividends paid, interest paid, repayment of lease liabilities and repayment of bank borrowings of $4.4 million, $11.2 million, $5.0 million and $138.2 million respectively.
As a result of the above, and including the exchange rate loss on cash and cash equivalents of $0.1 million, there was a net decrease of $1.4 million in cash and cash equivalents from a net cash balance of $19.5 million as at Dec 31, 2022 to $18.1 million as at June 30.
Global economic uncertainties, coupled with the easing of travel restrictions and the return of outbound tourism, has softened the demand for the group&rsquo s retail and trading of gold and luxury items segment in 1HFY2023, says MoneyMax.
&ldquo Notwithstanding these factors, the group turned in a resilient performance in its other segments, seeing positive growth in both its pawnbroking and secured lending businesses,&rdquo it adds.
Barring any unforeseen circumstances, the group expects to be profitable for the current financial year.
|
| Useful To Me Not Useful To Me | |
|
|
|
|
bechaotic
Member |
26-Jun-2023 15:15
|
|
x 0
x 0 Alert Admin |
Read somewhere one of Moneymax founders was also a founder of SK Jewellery (prev listed at 30c in 2015 then delisted at about half the price in 2020). How would investors able to trust them if what happened to SK Jewellery will happen to pawn brokering business too? |
| Useful To Me Not Useful To Me | |
|
Joelton
Supreme |
26-Jun-2023 13:58
|
|
x 0
x 0 Alert Admin |
MoneyMax bets on Malaysia growth with drive-through pawnshops
The company also hopes to make efficiency gains amid rising cost of funds and overheads
MONEYMAX Financial Services : 5WJ 0% is deepening its presence in Malaysia, touting its drive-through pawnshops as a differentiator. This follows its entry into the market under its own brand name for the first time in 2022.
The Catalist-listed pawnbroker last year opened 10 new stores in Malaysia: eight in Johor Bahru (JB), one in Selangor and another in Penang. Since May this year, it has added two more stores, in JB and Penang. It now has 43 stores in Malaysia &ndash slightly less than the 49 in its home market of Singapore.
The company has been operating in Malaysia since 2014, under a joint venture agreement. The pandemic created an opportunity for expansion, as several properties in ideal locations had been vacated.
&ldquo What makes these locations attractive is they are areas with good business traction and footfall. We managed to secure the leases to these strategic locations,&rdquo said the company&rsquo s group general manager, Lim Chun Seng.
Of the new stores, six feature a drive-through concept. Customers can drive up to the counters in their cars or motorcycles, and pawn their valuables without having to alight.
The 30-year-old was speaking to The Business Times together with his father, Lim Yong Guan &ndash also known as Peter Lim &ndash MoneyMax&rsquo s chief executive and chairman, at the company&rsquo s Changi office.
The idea of a drive-through pawnshop may sound gimmicky, but the Lims said it meets actual needs. Many Malaysian customers arrive in cars or on motorbikes, and struggle to find parking. Some also fear for their safety when leaving the store with large amounts of cash.
Said Peter Lim: &ldquo If they can do the transaction just like (at) McDonald&rsquo s, using the drive-through concept, I think this is what the customer needs&hellip We talked to customers, analysed a lot of data and found that this is the key to our success.&rdquo The company now plans to open more drive-through stores across Malaysia.
Staying ahead of headwinds
The Lim family is well known in Singapore business circles, with Peter Lim also having co-founded local jewellery retailer SK Jewellery Group. MoneyMax, started in 2008, has three core segments: pawnbroking, the retail and trade of gold and luxury goods, and secured lending.
Its expansion in Malaysia has yielded some positive results. Net profit for FY2022 grew 11.3 per cent to S$22.1 million, on the back of a 27.2 per cent growth in its revenue to S$253.5 million.
MoneyMax&rsquo s share price has also somewhat recovered from the lows of 2020, when it fell to S$0.106, to close at S$0.20 on Friday (Jun 24). It trades at about four times earnings.
The company is facing some headwinds, though. In its pawnbroking segment, profit fell to S$9.95 million &ndash down from S$11.5 million the year before.
Peter Lim said rising costs have had an impact. MoneyMax&rsquo s cost of funds has doubled, while overhead costs went up by about 20 per cent to 30 per cent.
At the same time, the company has left the interest rate it charges customers unchanged, with monthly rates as low as 1 per cent. The average pawn loan size ranges between S$500 and S$1,000.
While there is a need to maintain its spread, &ldquo we have to balance that with the interests of our customers as well&rdquo , said Lim Chun Seng. He declined to share specific figures on the spread.
To cope with rising costs, MoneyMax is investing in digitalisation that could bring efficiency gains. This means acquiring more tech talent, such as data analysts, while other companies are laying workers off.
&ldquo It&rsquo s been a tough year, but we are still looking to hire&hellip Data analysis is something we are looking to build as a core competency,&rdquo said the younger Lim, adding that this could enhance supply management and inventory tracking.
Meanwhile, the company is also optimistic on retail sales. Gold prices have been on the rise for the past six months, with some seeing it as a good asset to hold in the inflationary environment. Demand for luxury handbags and watches is also high, with the return of affluent South-east Asian and Chinese tourists to Singapore.
Auto financing, which MoneyMax started to offer in 2018, could also grow into a core pillar of the business, said Lim Chun Seng. MoneyMax&rsquo s offerings range from financing for the renewal of Certificates of Entitlement, to inventory financing for the car dealers it works with.
Next generation
Pawnbroking may seem a rather old-school business for a young entrepreneur such as Lim Chun Seng, who trained as a lawyer. After all, fintech models such as Buy Now, Pay Later are more hyped up these days.
The scion nevertheless sees the age-old trade remaining relevant, given how it serves people from &ldquo all walks of life&rdquo &ndash from hawkers to entrepreneurs.
Several of MoneyMax&rsquo s new ventures, such as the auto financing business and the Malaysia strategy, have been helmed by Lim Chun Seng. This is part of the test for him to prove his capability to the family, said Peter Lim.
&ldquo We really need to rely on the younger generation let (them) lead the new batch of staff, also very young. They are ambitious, they are hard-working,&rdquo he added. &ldquo Let them go and try to explore opportunities, but they have to prove that they (can) meet the target.&rdquo
|
| Useful To Me Not Useful To Me | |
|
GoldBull
Member |
28-Feb-2023 15:40
|
|
x 0
x 0 Alert Admin |
Price have ran up from $0.20 since January, Big seller distributing at $0.225 now....... |
| Useful To Me Not Useful To Me | |
|
Joelton
Supreme |
28-Feb-2023 10:41
|
|
x 0
x 0 Alert Admin |
MoneyMax posts 11.3% growth in FY2022 earnings to $22.1 mil
MoneyMax 5WJ 0.00% announced that its FY2022 ended Dec 31, 2022, earnings increased by 11.3% y-o-y to $22.1 million from $19.8 million a year ago.
This comes on the back of a 27.2% y-o-y increase in revenue to $253.5 million from $199.2 million last year.
For the 2HFY2022 period, the group&rsquo s earnings declined by 18.8% y-o-y to $9.1 million, mainly due to increase in finance costs, lower government grants and rental rebates received. Revenue for 2HFY2022 gained 10.5% y-o-y to $118.0 million
The revenue increase for both periods were thanks to an increase in revenue from the pawnbroking, retail and trading of gold and luxury items and secured lending segments.
As at end-December, the group&rsquo s cash and cash equivalents stood at $19.5 million.
The group declared a final cash dividend of 1.0 cent per share, higher than 0.95 cent per share last year.
While the macroeconomic headwinds continue to impact regional markets, the group notes the increased demand for pawnbroking services in the region. In tandem with the above, it has invested actively in its regional pawnbroking network in 2022 and expects to become one of the largest pawnbroking chains across Singapore and Malaysia by the end of 2023.
The group will also continue to evaluate potential acquisitions for growth across its key markets in the South East Asia region. It also notes the demand for its secured lending business and will prioritise resources accordingly to maximise the business opportunities in this segment. It continues to focus on enhancing its digitalisation capabilities and launching new products and services.
|
| Useful To Me Not Useful To Me | |
|
Joelton
Supreme |
11-Aug-2022 09:32
|
|
x 0
x 0 Alert Admin |
MoneyMax reports 51.0% growth in 1HFY2022 earnings of $12.9 mil
MoneyMax has reported earnings of $12.9 million for the 1HFY2022 ended June, 51.0% higher than earnings of $8.6 million in the same period the year before.
During the half-year period, revenue increased by 46.6% y-o-y to $135.5 million due to higher sales from the retail and trading of gold and luxury items. Higher interest income from MoneyMax&rsquo s pawnbroking and secured lending segments also led to the higher revenue.
Other gains fell by 29.9% y-o-y to $0.8 million mainly due to the lower grants from the government.
Material costs rose by 51.7% y-o-y to $90.7 million in the 1HFY2022, in line with the higher sales from the retail and trading of gold and luxury items.
Other losses increased by 28.2% y-o-y to $0.3 million due to the provision of doubtful debts in the 1HFY2022.
As a result, profit before tax rose 51.1% y-o-y to $17.1 million.
As at June 30, cash and cash equivalents stood at $17.0 million.
Earnings per share (EPS) for the period came in at 2.92 cents on a fully diluted basis.
|
| Useful To Me Not Useful To Me | |
|
jpower2015
Member |
10-May-2018 16:47
|
|
x 0
x 0 Alert Admin |
MoneyMax launches SG e-Auction, Singapore&rsquo s first LIVE e-auction site, with Japan&rsquo s leading B2B internet auction company Pioneering Singapore&rsquo s first Business-to-Business (&ldquo B2B&rdquo ) online auction platform for luxury goods Set to bridge the gap between buyers and sellers while offering them a comprehensive yet simple solution to existing trading needs Aims to become the premier leading B2B online auction platform for luxury goods in ASEAN |
| Useful To Me Not Useful To Me | |
|
waters
Senior |
16-Nov-2016 12:07
|
|
x 0
x 0 Alert Admin |
HOW PAWNING WORKS?Convert your valuables into instant cash! Pawnbroking is a fast, easy and fuss-free solution for your short-term cash needs. Simply bring your precious items &ndash gold, diamonds, gemstones or luxury timepieces&ndash to any MoneyMax stores and we can offer you instant cash without filling in forms, credit checks or no waiting for approval. Your items will then be stored safely in our strong room / safe during the length of your pawnbroking contract, up to a maximum of 6 months with the option of renewal. You can be rest assured that we will never sell your items during this period, and the pledged item(s) will remain yours during the entire process. You can pay up your loan at any MoneyMax store at your convenience and your items will be returned to you in the original condition that was being pawned. Curious to find out how much your valuables are worth without having to go down to the store itself? MoneyMax is pleased to bring you the ease of valuing your item online! Simply fill up a quick form and have an estimate valuation within 1 business day! PAWNBROKING PROCESS
LOAN AMOUNT
RE-PLEDGING OF SAME ITEM
BUYING OF PAWN TICKETS
|
| Useful To Me Not Useful To Me | |
|
waters
Senior |
14-Nov-2016 19:36
|
|
x 0
x 0 Alert Admin |
MoneyMax just announced its 3Q 2016 results:- http://infopub.sgx.com/FileOpen/MMFS%20Q3FY2016%20Results.ashx?App=Announcement& FileID=428818 9M 2016 EPS : 1.33 cts (2015: 0.57 cts) 3Q 2016 EPS : 0.48 cts (2015: 0.21 cts) NAV/share at 30/9/16: 17.70 cts NAV/share at 31/12/15: 16.88 cts 10. A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months. While the Group&rsquo s operating environment is expected to remain challenging with increasing operating costs and keen competition, in addition to a volatile global and regional economy, the Group continues to strengthen its market leadership by investing in branding, enhancing its distribution channels and launching new product lines, while improving operational efficiencies. On 18 October 2016, the Group made its foray into China via a joint venture with SGX-listed AP Oil International Limited, 重 庆 宗 申 动 力 机 械 股 份 有 限 公 司 and 重 庆 保 税 港 区 开 发 管 理 集 团 有 限 公 司 to provide financial leasing services in Chongqing, China. The JV will service various fast-growing industries in China. The Group continues to seek more overseas opportunities to expand its service offerings and innovative ways to provide financial services. |
| Useful To Me Not Useful To Me | |