MoneyMax

MoneyMax: Entered into a conditional agreement with Chong Mei Sang as a partnership to grow the Malaysian network to up to 34 over the next few years. As part of the deal, Chong will restructure 8 outlets and place their ownership under a new holdco (which MoneyMax will have 51%). MoneyMax will pay Chong an initial RM4m within 3 days of confirming that conditions of the SPA are met. Subsequently, another RM4.9m will be paid upon the operation of two additional outlets, and a final tranche of RM6.7m will be paid progressively as 24 new outlets are launched in various parts of Malaysia. MoneyMax trades at 30x forward P/E.