KUALA LUMPUR (Sept 23): Pappajack Bhd (KL:PPJACK) jumped 22% on Wednesday to chart a new all-time high since the pawnbroker’s listing in 2022, before paring most of its intra-day gains.

The counter, which climbed as much as 20 sen to RM1.10 shortly after the opening bell, subsequently eased to close at 92 sen with 358,300 shares traded — up two sen or 2.2% for the day.

At its last price, the pawnbroking group had a market capitalisation of RM706.74 million.

Pappajack declined to comment on the share price movement when contacted by The Edge. The stock also does not have any regular analyst coverage.

Gold prices have also reclaimed US$4,300-an-ounce level as oil prices slide, easing worries over future US interest rate increase while market focus is on Iran talks.

Higher gold prices will boost demand for pawn loans as value of the collaterals increase. If the borrower defaults, Pappajack will be able to sell the unredeemed gold pledges at higher prices and margins.

The company is principally involved in the provision of pawnbroking services, operating 53 conventional pawnshops and 10 Ar-Rahnu outlets across the country.

Net profit was RM8.55 million in the latest quarter ended June 30, 2026 (2QFY2026), a 21% increase from the same three months of 2025, while revenue also hit a record RM37.9 million. 

The company attributed the results to growth in pledge book as well as improved margins across pawnbroking and Ar-Rahnu businesses. 

Pappajack had said it plans to grow its pledge book through its existing branch network while selectively expanding into areas where demand and operating economics are favourable.