PETALING JAYA: Pawnbroker Well Chip Group Bhd is acquiring three other pawnbroking firms for RM63.44mil to expand its footprint to the northern region of Malaysia.In a filing with Bursa Malaysia, the company said it is proposing to acquire Pajak Gadai Koong Sing Sdn Bhd, Lian Foh Pawnshop Sdn Bhd and Fook Foh Pawnshop Sdn Bhd from the shareholders of the respective companies.
“The proposed acquisition will enable the Well Chip Group to expand its footprint to the northern region of Malaysia, specifically Perak, which is in line with the strategic direction of the company to expand operations in its core business.
“Through the proposed acquisition, Well Chip Group will gain access to a network of established pawnbroking businesses in Perak, strengthening its competitive positioning within the pawnbroking industry.”
