ValueMax Group

[wonghw12]

There is an old report that stated the general guidelines for unsecured money lending.

The amount limits are as follows:
- Annual income < $20k: Up to $3,000
- Annual income $20k - < $30k: Up to 2 months' income
- Annual income $30k to $120k: Up to 4 months' income

They also conduct credit-worthiness checks via the Credit Bureau. Unless they have very lax lending standards, or loan out huge amounts of money in violation of unsecured money lending guidelines, it seems unlikely that there will be significant write-downs in the unsecured money lending business.

Do you happen to know if they are hit by Honestbee and will take write-downs on it? Do you also have info how they conduct unsecured money lending to corporates?

[weijian]

There is an old report that stated the general guidelines for unsecured money lending.

The amount limits are as follows:
- Annual income < $20k: Up to $3,000
- Annual income $20k - < $30k: Up to 2 months' income
- Annual income $30k to $120k: Up to 4 months' income

They also conduct credit-worthiness checks via the Credit Bureau. Unless they have very lax lending standards, or loan out huge amounts of money in violation of unsecured money lending guidelines, it seems unlikely that there will be significant write-downs in the unsecured money lending business.

Do you happen to know if they are hit by Honestbee and will take write-downs on it? Do you also have info how they conduct unsecured money lending to corporates?

hi wonghw12,
Did a quick search and unfortunately, ValueMax is an unsecured financial creditor of HonestBee in their court filing. Honestbee owes ~2.87mil to ValueMax.

https://vulcanpost.com/671240/honestbee-...singapore/

[dreamybear]

Point blank question. At least the answer is more than those simply answering "focussed on growing the business".

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Minutes of the Annual General Meeting held on 25 April 2023
https://links.sgx.com/FileOpen/VMG-Minut...eID=759331
"11. At IPO, the share price was 45cts per shares, whilst the share price is currently at 36 cts per share, even though Profit before tax and Net Asset Value is double, the share price has not doubled. What is Management doing to increase the share price?

Management is focused on growing the businesses of the Group. A lot of companies listed on the SGX are profitable and financially strong, but somehow, there are not much movements in their share prices. The most active counters are generally companies on the Straits Times Index. "

[weijian]

From The Edge, the IPO will be priced at P/E~19.5 or earning yield of 5%. So the cost of capital (at 5%) isn't too far away from the typical pawnbroker having to borrow 4-6% to fund their loans.

ValueMax associates launch Well Chip IPO

Well Chip was set up April 2023 as an investment holding company to own shares in ValueMax Group : T6I 0%’s Malaysian associated companies.

It is principally involved in providing pawnbroking services, and in the business of retail and trading of jewellery and gold.

About 72 per cent of the IPO proceeds or RM124.3 million have been allocated for use as cash capital for the group’s 23 existing pawnshops. Some 23.2 per cent, or RM40 million, will be used for expansion.

The remaining 4.8 per cent of gross proceeds amounting to RM8.2 million will be used for estimated listing expenses.

https://www.businesstimes.com.sg/compani...l-chip-ipo

[weijian]

The 5bil EQDP has minted a couple of controlling shareholder/treasury share sales in the last 6 months. These shares were purchased by institutions. In such sales, no new shares are issued and so OPMIs are not affected. In addition, there is also no change in control nor any new substantial shareholder going to have a seat on BOD, and therefore everything remains status quo.

Moving on, will such new institutional capital (<5% stakes kind) make a difference - whether in terms of market efficiency or corporate governance etc?

VENDOR SHARE SALE

The board of directors (the “Board” or the “Directors”) of Valuemax Group Limited (the “Company”, and together with its subsidiaries and associated companies, the “Group”) wishes to announce that it has been informed by Mr. Yeah Hiang Nam (“Mr. Yeah”), the Executive Chairman of the Company, and his spouse, Mdm. Tan Hong Yee (“Mdm. Tan”, together with Mr. Yeah, the “Vendors”) that the Vendors have undertaken a sale of an aggregate of 34,800,000 ordinary shares (“Sale Shares”) at a price of S$1.16 per Share by way of a block trade (“Vendor Share Sale”). This represents a discount of approximately 6.5% to the closing price of the shares traded on the SGX-ST of S$1.24 on 25 February 2026.

Oversea-Chinese Banking Corporation Limited was appointed by the Vendors as the placement agent (the “Placement Agent”) in connection with the Vendor Share Sale, which attracted strong participation from long-only institutional investors, including abrdn Asia Limited, Amova Asset Management Asia Limited, Avanda Investment Management Pte. Ltd., and ICH Synergrowth Fund.

Following the Vendor Share Sale, the Vendors continue to be interested (direct and deemed) in an aggregate of 81.53% of the total issued and paid-up share capital of the Company as at the date of this Announcement.

https://links.sgx.com/FileOpen/Block%20T...eID=876190