MoneyMax to offer pawn, sell and trade-in services for luxury goods
28 Apr 2016, 07:01 pm
SINGAPORE (April 28): Pawnbroker MoneyMax Financial Service says it will provide pawn, sell and trade-in services for luxury bags and accessories, in what the firm says is "the first of its kind in Singapore".
It expects all of its 37 Singapore outlets to offer this suite of services by year-end.
It also plans to introduce pawnbroking of luxury bags and accessories to its Malaysia outlets.
MoneyMax will invest up to $5 million initially to buy inventory and equipment, renovation of its current outlets and staff training and expects to recognise revenue from this new business segment in the financial year ending Dec 31.
The stock last traded at 15 cents on Wednesday.
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