According to RHB Bank Singapore’s Alfie Yeo in an unrated report dated June 17, MoneyMax is “firing on all cylinders”, with robust growth across all key business lines — pawnbroking, gold retail and secured lending — underpinned by elevated gold prices and strategic expansion across its store network.
MoneyMax Financial Services is one of the Singapore Exchange’s (SGX) standout small-cap performers this year, with its share price surging 88% year-to-date close at 62 cents on July 22 — a record high since its listing in August 2013.
The company, a leading pawnbroker and retailer of pre-owned luxury goods in Singapore and Malaysia, is riding multiple tailwinds: lofty gold prices, a larger pawnbroking loan book, retail expansion into high-margin commemorative gold products and strong return on equity.
