Hextar Technologies Solutions Obtains Department of Housing Pawnbroker License

KUALA LUMPUR (September 8): Hextar Technologies Solutions Bhd (formerly known as Complete Logistics Services Bhd) has obtained a pawnshop license from the Ministry of Housing and Local Government.

In a filing in Bursa Malaysia on Thursday (September 8), Hextar Technologies Solutions said its wholly-owned subsidiary, Malsuria (M) Sdn Bhd, on September 5 obtained a pawnbroker’s license issued under the pawnbrokers and moneylenders (control and licensing). Ministry Regulations 2003.

“The license is valid for a period of two years from September 5 and is renewable upon request for renewal [being] made with the ministry. The license allows Malsuria to undertake money lending services business,” the company added.

Hextar Technologies Solutions, which provides comprehensive logistics services, is diversifying into technology businesses. It also sold its entire 14.94% stake in Classic Scenic Bhd for RM32.04 million to its majority shareholder Datuk Eddie Ong Choo Meng.

Last month, the group reported a 29.46% increase in net profit to RM290,000 for the first quarter ended June 30, 2022 (1QFY23) from RM224,000 in the same period a year ago. , helped by its logistics segment, which saw an increase in business volume and improved profit margin.

Quarterly revenue more than doubled, or jumped 158.23%, from RM11.05 million to RM28.53 million, driven by improved revenue contribution from its expanded building materials business. construction.

According BloombergHextar Tech Sdn Bhd is the largest shareholder of Hextar Technologies Solutions with a 50.11% stake, followed by Ong (21.37%) and Pusaka Unggul Sdn Bhd (3.89%).

Hextar Technologies Solution’s share price ended unchanged at RM3.80, giving it a market capitalization of RM488.9 million. Since the beginning of the year, its share price is up 51.39%.

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