KUALA LUMPUR (Sept 26): The Ministry of Local Government Development (MLGD) has conditionally approved Tomei Consolidated Bhd’s request for pawnbroker licences, as well as allowed the jeweller to conduct online money lending business activities.
In a bourse filing on Tuesday, Tomei said that five of its subsidiaries secured conditional approval from the ministry for pawnbroker licences to operate as pawnbrokers.
The subsidiaries which obtained conditional approval were Ambitious Dream Sdn Bhd, Glittering Dream Sdn Bhd, Joyous Dream Sdn Bhd, Memorable Dream Sdn Bhd, and Mesmerizing Dream Sdn Bhd.
It did note that the licences are subject to the subsidiaries fulfilling certain conditions by July 20, 2024.
However, the company did not disclose details concerning the aforesaid conditions required to be fulfilled in the filing.
Meanwhile, in a separate filing, Tomei also announced that the MLGD has approved its wholly-owned subsidiary TXG Financial Solutions Sdn Bhd to conduct online money lending business within the unit’s existing money lending licence.
Shares in Tomei closed two sen or 1.74% higher at RM1.17, giving the company a market capitalisation of RM162.16 million.