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Malaysia’s pawnbrokers in expansion mode with rising demand for quick cash

The industry is expected to grow at a CAGR of 5.9 per cent between 2022 and 2024 to reach RM12 billion in 2024

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Tan Ai Leng

Published Tue, Nov 21, 2023 · 05:00 AM
    • Pappajack Holdings CEO Lim Boon Hua said the pawnbroking industry remained relevant as there is still a large group of unbanked consumers that need the service.
    • CSM Pawn Shop director Mark Chan is checking the authenticity of one of the watches. Branded watches are one of the most popular and widely accepted pledges by pawn shops in Malaysia.
    • Evergreen Max Cash Capital (EMCC) executive director Low Kai Loon said loan disbursement of collateralised microfinance could be as fast as within ten minutes.
    • Pappajack Holdings CEO Lim Boon Hua said the pawnbroking industry remained relevant as there is still a large group of unbanked consumers that need the service. PHOTO: TAN AI LENG, BT
    • CSM Pawn Shop director Mark Chan is checking the authenticity of one of the watches. Branded watches are one of the most popular and widely accepted pledges by pawn shops in Malaysia. PHOTO: TAN AI LENG, BT
    • Evergreen Max Cash Capital (EMCC) executive director Low Kai Loon said loan disbursement of collateralised microfinance could be as fast as within ten minutes. PHOTO: TAN AI LENG, BT

    [KUALA LUMPUR] Malaysia’s pawnbroking industry – already red-hot as more people look for short-term financing – was in the regional spotlight last week when ValueMax’s Malaysian associated companies applied for a listing on Bursa Malaysia’s main market.

    The first mainboard-listed pawnbroker on the Singapore Exchange is doing so via Well Chip, the holding company and proposed listco for ValueMax’s Malaysian associates.

    The latest numbers illustrate why Malaysia’s pawnbroking industry has plenty of appeal, both at home and abroad.

    MalaysiaAsean BusinessAsean

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