Evergreen Max makes Sabah, Sarawak debut

KUALA LUMPUR: Evergreen Max Cash Capital Bhd is entering Sabah and Sarawak with four new pawnbroking licences approved by the Housing and Local Government Ministry.

The licences comprise two outlets in Kota Kinabalu and two in Kuching.

Executive director and group managing director Datuk Low Kok Chuan said the approvals marked a significant milestone in the group's expansion.

"Our current priority is to establish our operational presence in East Malaysia while leveraging our experience in the management and expansion of our existing pawnbroking network across Peninsular Malaysia," he said.

Evergreen Max has expanded its outlet network more than fourfold, from 22 outlets when it was listed in September 2023 to 102 as of June 30, 2026.

The expansion has also supported stronger financial performance.

For the six months ended June 30, 2026, revenue rose 34.2 per cent year-on-year to RM127.1 million from RM94.7 million, while net profit surged 69.3 per cent to RM27.6 million from RM16.3 million.

The company attributed the growth to higher pawn loan disbursements and increased contributions from its pawnbroking operations.

Low said pawnbroking provides accessible short-term financing, particularly for individuals with limited access to conventional banking and credit facilities.

"Looking ahead, we remain positive on our growth prospects. The expansion into East Malaysia represents a new avenue for growth, complementing our existing operations in Peninsular Malaysia," he said.

The company said it will continue to identify strategic locations for expansion while maintaining disciplined capital deployment and prudent risk management to deliver sustainable long-term shareholder value.