MoneyMax bets on Malaysia growth with drive-through pawnshops

MONEYMAX Financial Services 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 – 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.