Maxion owns and operates Ion World’s three Dr.Pajak drive-through pawnshops in Johor. Aspial Lifestyle will inject its five Maxi-Cash pawnshops across several states in Malaysia into the JV company. The Maxi-Cash pawnshops in Malaysia will all be rebranded and operate under the Dr.Pajak brand.
Aspial Corporation, the group with diverse businesses ranging from jewellery and real estate to financial services and metal trading, plans to tap near-term growth through its pawnbroking business which comes under Aspial Lifestyle (SGX:5UF
) , its consumer lifestyle unit, as it reorganises itself to enjoy economies of scale.
Last December, Aspial Lifestyle entered into a partnership agreement with Malaysia-based pawnbroking company Ion World to expand its presence in Malaysia. Aspial will acquire a 65% stake in Maxion Holdings, an investment vehicle that comprises Ion World’s pawnbroking business.
