- Aspial Lifestyle (SGX:5UF) (formerly known as Maxi-Cash Financial Services Corporation Ltd) is listed in the Catalist Board of the Singapore Exchange. Aspial Lifestyle is 70.7% owned by their parent, Aspial Corporation (SGX:A30) – listed on the Mainboard of the Exchange.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Growth.
- In December 2022, Aspial Lifestyle together set up a JV with Ion World Group via Maxion Holdings, with Aspial Lifestyle acquired 65% of the vehicle for RM30.7m (S$9.5m). This deal remains subject to certain conditions, includes a put option for Aspial Lifestyle to acquire the rest of Maxion where Aspial Lifestyle may exercise this option between Jan 1, 2027 and Dec 31, 2032. This is with the condition that Aspial Lifestyle will not be required to buy more than 10% of Maxion in a year.
- Maxion currently holds 3 pawnshops in Johor Bahru in Malaysia. The management guided that they are exploring to expand their presence in the Malaysia market via new stores opening or M&A as there are potential single mom-and-pop stores for sale. We believe that this will drive the next phase of growth for Aspial Lifestyle pawnbroking business whilst injecting 5 stores into Maxion.
Background of Ion World Group
- Read more at SGinvestors.io.
