SAC Capital

Independent Insight Provider

Equity Bottom-Up

<ul><li>MoneyMax Financial Services Limited began with its first store in 2008 and was listed on the Catalist board of the Singapore Exchange in 2013.</li><li>It has since developed into an integrated financial-services, retail and trading platform with operations across Singapore and Malaysia, and now operates 113 outlets across the two markets.</li><li>MoneyMax’s core business segments encompass pawnbroking, retail and trading of gold and luxury items, and secured lending.</li></ul>

MoneyMax Financial Services Limited began with its first store in 2008 and was listed on the Catalist board of the Singapore Exchange in 2013.It has since developed into an integrated financial-services, retail and trading platform with operations across Singapore and Malaysia, and now operates 113 outlets across the two markets.MoneyMax’s core business segments encompass pawnbroking, retail and trading of gold and luxury items, and secured lending.

MoneyMax Financial Services Limited: A Golden Upgrade

Private Wealth Management and Asset Management., FPA Financial

FPA Financial

Private Wealth Management and Asset Management.

FPA Financial is an independent and boutique financial firm specializing in private wealth management and asset management.

Thematic (Sector/Industry)

<ul><li>Singapore’s luxury goods sector remains supported by a combination of cyclical recovery and structural growth drivers.</li><li>While global luxury demand has softened, the outlook for Singapore continues to stand out, underpinned by resilient tourism inflows and a rapidly expanding UHNW population.</li><li>Recent data also points to sustained strength in luxury consumption, with sales of watches and jewellery rising by 6.2% y-o-y in March, outperforming total retail sales growth of 4.8% y-o-y. </li></ul>

Singapore’s luxury goods sector remains supported by a combination of cyclical recovery and structural growth drivers.While global luxury demand has softened, the outlook for Singapore continues to stand out, underpinned by resilient tourism inflows and a rapidly expanding UHNW population.Recent data also points to sustained strength in luxury consumption, with sales of watches and jewellery rising by 6.2% y-o-y in March, outperforming total retail sales growth of 4.8% y-o-y. 

Dealing, Product Financing and Custody Services, Tickrs

Tickrs

Dealing, Product Financing and Custody Services

Tickrs Financial Singapore Pte Ltd (TFS) obtained Capital Markets Services (CMS) License from the Monetary Authority of Singapore (MAS) in 2022. Product offering include stock trading services across 10 global markets, futures trading, fixed income and wealth management products offering.

<ul><li>Earnings Inflection Underpinned by Gold Supercycle MoneyMax's FY2025 results confirm a structural earnings inflection.</li><li>PATMI nearly doubled, and the 2H acceleration suggests momentum is building, not fading.</li><li>The gold price environment is the single most important macro driver: spot gold has surged to approximately US$5,150/oz as of late February 2026, up over 50% from the levels prevailing during our last report in September 2025.</li></ul>

Earnings Inflection Underpinned by Gold Supercycle MoneyMax's FY2025 results confirm a structural earnings inflection.PATMI nearly doubled, and the 2H acceleration suggests momentum is building, not fading.The gold price environment is the single most important macro driver: spot gold has surged to approximately US$5,150/oz as of late February 2026, up over 50% from the levels prevailing during our last report in September 2025.

MoneyMax Financial Services Update : The Gold Standard: Record Year, Re-rating in Full Swing

Smartkarma's AI Co-Pilot, Smartkarma

αSK

Smartkarma's AI Co-Pilot

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>Moneymax is a high-growth, integrated financial services provider with a strong market position in the pawnbroking and pre-owned luxury retail sectors in Singapore and Malaysia, demonstrating impressive revenue and net income growth.</li>
  <li>The company's strategic focus on digitalization, network expansion, and service diversification into secured lending (automotive and property) provides a clear path for sustained future growth and market share gains.</li>
  <li>Despite a robust top-line performance, the company exhibits consistently negative operating and free cash flows, a key risk factor for investors to monitor closely, alongside its sensitivity to gold price fluctuations and regulatory changes.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Moneymax is a high-growth, integrated financial services provider with a strong market position in the pawnbroking and pre-owned luxury retail sectors in Singapore and Malaysia, demonstrating impressive revenue and net income growth.
  The company's strategic focus on digitalization, network expansion, and service diversification into secured lending (automotive and property) provides a clear path for sustained future growth and market share gains.
  Despite a robust top-line performance, the company exhibits consistently negative operating and free cash flows, a key risk factor for investors to monitor closely, alongside its sensitivity to gold price fluctuations and regulatory changes.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Moneymax Financial Services (MMFS SP) - Jan 2026

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul><li>MoneyMax's group revenue rose 31.2% year-on-year to S$243.0 million, with net profits increasing 76.4% to S$31.8 million in H1 FY2025.</li><li>The company's five-year plan includes expanding in Singapore and Malaysia and exploring Southeast Asian markets with similar demographics.</li><li>MoneyMax maintains a robust balance sheet, holding cash and cash equivalents of approximately S$18.9 million as of 30 June 2025.</li></ul>

MoneyMax's group revenue rose 31.2% year-on-year to S$243.0 million, with net profits increasing 76.4% to S$31.8 million in H1 FY2025.The company's five-year plan includes expanding in Singapore and Malaysia and exploring Southeast Asian markets with similar demographics.MoneyMax maintains a robust balance sheet, holding cash and cash equivalents of approximately S$18.9 million as of 30 June 2025.

kopi-C with MoneyMax Financial Services Ltd - How MoneyMax is taking the pawnbroking industry into the future

Singapore

MoneyMax Financial Services is a leading financial services provider, retailer, and trader of luxury products in Southeast Asia. The company's core business segments include pawnbroking, retail and trading of gold and luxury items, and secured lending for automotive and property financing. It also offers general insurance and operates an online platform for shopping, selling, and appraising valuables. Headquartered in Singapore, the company was founded in 2008.

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MoneyMax (MMFS SP)

MoneyMax Financial Services Limited: A Golden Upgrade

MoneyMax Financial Services Limited began with its first store in 2008 and was listed on the Catalist board of the Singapore Exchange in 2013.

SAC Capital

Singapore Luxury Goods Market View

Singapore’s luxury goods sector remains supported by a combination of cyclical recovery and structural growth drivers. While global luxury demand...

FPA Financial

MoneyMax Financial Services Update : The Gold Standard: Record Year, Re-rating in Full Swing

Earnings Inflection Underpinned by Gold Supercycle MoneyMax's FY2025 results confirm a structural earnings inflection. PATMI nearly doubled, and...

Tickrs

Primer: Moneymax Financial Services (MMFS SP) - Jan 2026

Moneymax is a high-growth, integrated financial services provider with a strong market position in the pawnbroking and pre-owned luxury retail...

αSK

kopi-C with MoneyMax Financial Services Ltd - How MoneyMax is taking the pawnbroking industry into the future

MoneyMax's group revenue rose 31.2% year-on-year to S$243.0 million, with net profits increasing 76.4% to S$31.8 million in H1 FY2025. The...

Singapore Exchange Ltd (SGX)

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