ValueMax Group has increased its investment in its wholly-owned subsidiary ValueMax Pawnshop (JP) by way of a cash injection of $2 million.
In a media release dated April 26, ValueMax states that the issued and paid-up share capital of VM Pawnshop will be $12 million post-injection.
The capital injection was funded by the internal resources of the group and is for the purpose of meeting the working capital requirements.
The transaction is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the group for FY2021 ending December.
Shares in ValueMax closed flat at 38 cents on April 26.
