Company Briefs: MoneyMax Financial Services

MoneyMax Financial Services

Catalist-listed MoneyMax Financial Services' unit Cash Online has entered into an agreement with CMS Top Holdings and four individuals to purchase interests in 13 pawn brokers in Malaysia for RM56.6 million (S$18.3 million) in cash.

It plans to fund the acquisitions through internal resources.

This will provide the group with a good opportunity to expand its geographical network of pawn broking operations in Malaysia, the group said.

While the four individuals were not named, the group said that they were "not related to the directors or controlling stakeholders of the company".

Hong Leong Asia

Hong Leong Asia's third-quarter loss widened from $13.92 million a year ago to $17.58 million, weighed down by losses from its consumer products unit.

Revenue climbed 16 per cent year on year to $963.19 million, fuelled by growth from its diesel engines unit Yuchai.

Yuchai's revenue increased by 28.8 per cent on the back of more engines sold.

For the quarter under review, loss per share grew from 3.72 cents to 4.7 cents.

"In view of the challenging business environment, the group expects that its performance will be weak for the remaining part of 2017," Hong Leong Asia said.

Wheelock Properties

Wheelock Properties posted a 72 per cent year-on-year jump in profit to $48.77 million for the third quarter ended Sept 30, boosted partly by a $10.83 million write-back of diminution in value made on The Panorama development in Singapore.

Revenue rose nearly 20 per cent to $182.65 million on the back of higher revenue from its property development business.

"The Panorama has obtained temporary occupation permit in September 2017, and handover of units is in progress. Marketing is ongoing for Ardmore Three and Scotts Square," the firm said.

A version of this article appeared in the print edition of The Straits Times on November 15, 2017, with the headline 'Company Briefs'. Subscribe