SGX Mainboard-listed ValueMax Group Limited has signed a Sales & Purchase agreement to acquire Kwong Hin Pawnshop Pte Ltd for S$5.86 million.
Having established its first pawnbroking outlet in 1988, ValueMax Group Limited (“ValueMax” is one of the oldest and most established pawnbroking chains in Singapore, providing pawnbroking services and the retail and trading of pre-owned jewellery and gold. It has 22 outlets in strategic locations island-wide and three other pawnshops with pre-owned jewellery outlets operated by associated and investee companies. In Malaysia, ValueMax also operates five pawnshops and one preowned jewellery retail outlet through its associated companies. An award-winning company, ValueMax has received various awards and certifications, which include the Enterprise 50 Award 2010, the Singapore Prestige Brand Award 2010 – Established Brands category, the Singapore SME 1000 Awards 2014 in the Net Profit Growth Excellence as well as Sales Growth Excellence categories.
The Managing Director and CEO, Mr Yeah Hiang Nam, was also conferred the Entrepreneur of the Year Award in 2010.
SGX Mainboard-listed ValueMax Group Limited expects to have two more outlets in Malaysia commencing business by the end of 2014, which will bring the Group’s total number of operating outlets to 30.
SGX Mainboard-listed ValueMax Group Limited has been awarded the Runner Up position for the 15th Securities Investors Association (Singapore) (“SIAS”) Investors’ Choice Awards1– Most Transparent Company Award (“MTCA”) 2014, under the new issues category.
SGX Mainboard-listed ValueMax Group Limited has reported a 36.7% jump in its net profit attributable to shareholders for the three months ended 30 June 2014. For the six month ended 30 June 2014, net profit attributable to shareholders increased by 2.4% to S$5.4 million.
SGX Mainboard-listed ValueMax Group Limited (“ValueMax” or “方圆集团”, and together with its subsidiaries, the “Group”), one of Singapore’s oldest and most established pawnbroking chains, continues to expand its business operations. The Group will add another three new outlets in Singapore, increasing its number of outlets in Singapore from 18 to 21. Currently under renovation, the three new outlets are expected to commence operations by the middle of the year and the pawnbroking licences for the respective three outlets have been applied for.