January 10, 2018

ValueMax announced that its wholly-owned subsidiary, VMM Holdings has on Dec 29 increased its investment in four associated companies through subscription of new shares by way of cash injections, for a total consideration of RM5.03m (S$1.67m). The group acquired additional 2.8% or 437,828 new shares in Thye Shing Pawnshop; 2.8% or 265,088 new shares in Kedai Pajak Well Chip; 2.8% or 1,768 new shares in Kedai Emas Well Chip; and 2.8% or 535,308 new shares in SYT Pavilion. The increase in investment was funded through the group’s internal resources. We currently have a BUY recommendation with a fair value of S$0.39 by KGI Securities. Share price closed at S$0.295