SUBSCRIBERS

Maxi-Cash to buy four shops for S$23.7m from chairman's firm

Maxi-Cash says purchase will enable it to own the units instead of periodically renewing leases which could affect operations and costs

Fiona Lam

Published Wed, Oct 30, 2019 · 09:50 PM

maxi-cash

Singapore

MAXI-CASH Financial Services Corporation is looking to buy four investment properties for a total cash consideration of S$23.7 million.

Its wholly-owned subsidiary, Maxi-Cash Property, on Tuesday entered into a conditional sale and purchase agreement with 8G Investment for the acquisition of the properties, several of which house its pawnbroking and retail businesses.

8G Investment is a private real estate developer. Its shareholders are Maxi-Cash director, non-executive chairman and controlling shareholder Koh Wee Seng, his mother (Tan Su Lan) and wife (Lim Kwee Hua). Mr Koh also holds a 79.58 per cent interest in Maxi-Cash. 8G is the registered proprietor of the four properties: Block 165, Bukit Merah Central, #01-3661; Block 101, Yishun Avenue 5, #01-95; Block 702, Ang Mo Ki…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes