KUALA LUMPUR (Oct 12): Evergreen Max Cash Capital Bhd (KL:EMCC) is tapping East Malaysia for the first time after securing four pawnworking licences.

The approval from the Housing and Local Government Ministry was for two licences each in Kota Kinabalu, Sabah; and Kuching, Sarawak, the company said in a statement. Evergreen Max Cash has only been operating in Peninsular Malaysia, making the approval a significant milestone for the company.

“Our current priority is to establish our operational presence in East Malaysia while leveraging our experience in the management and expansion of our existing pawnbroking network across Peninsular Malaysia,” said managing director Datuk Low Kok Chuan.

Evergreen Max Cash currently operates 29 conventional pawnshops and 73 Islamic pawnbroking outlets across seven states and Kuala Lumpur.

The expansion follows stronger earnings as net profit surged 69% to RM27.6 million in the first half ended June 30, 2026. Revenue rose 34% year-on-year to RM127.1 million, driven by higher pawn loan disbursements and stronger contributions from its pawnbroking operations.

Gold prices, meanwhile, have held above US$4,000 an ounce. High gold prices will boost demand for pawn loans as the value of the collateral increases. If the borrower defaults, Evergreen Max Cash will be able to sell the unredeemed gold pledges at high prices and margins.

“We will continue to identify strategic locations for future expansion, while maintaining disciplined capital deployment and prudent risk management,” Low added.