Valuemax acquires VM Credit for $1m
There’s a lot of growth potential in this area.
Mainboard-listed moneylender Valuemax revealed that it has acquired VM Credit Pte Ltd for SGD1m. It has net assets of SGD1m with a moneylender’s license and is mainly engaged in a moneylending business.
According to OSK DMG, “It is effectively acquiring the moneylender’s license for free and will be targeting secured loans against collaterals eg properties in Singapore, along the same structure of a mortgage loan. We foresee a lot of growth potential in this area.”