Evergreen Max Cash Capital Berhad (Malaysia)

The Company was incorporated in Malaysia on 3 September 2021 as a private company under the name of Evergreen Max Cash Capital Sdn. Bhd., and subsequently converted to a public company and changed its name to Evergreen Max Cash Capital Berhad on 25 April 2022.
The principal activities of the Company is investment holdings. Through its subsidiaries, the EMCC group of companies (“Group”) is principally involved in the provision of pawnbroking services. In addition, the Group is also involved in the business of retail and trading of gold and luxury products, as well as provision of pawnbroking consultancy services and Information Technology (“IT”) solutions to third party pawnbrokers.
The history of our Group can be traced back to 2012 when Dato' Low and Datin Tea, our Promoters, substantial shareholders and Directors incorporated PG Insan Tiara, to venture into the pawnbroking business. Under the leadership of Dato' Low, our pawnbroking business has grown significantly over the past 10 years. As at the LPD, we have a network of 22 “Pajaking” pawnshops in Peninsular Malaysia, whereby we have 19 “Pajaking” pawnshops in Kuala Lumpur and Selangor, 2 “Pajaking” pawnshops in Negeri Sembilan and 1 “Pajaking” pawnshop in Pahang.
In 2017, Dato' Low and Datin Tea co-founded Trax Capital, the former holding company of our subsidiaries, to consolidate our pawnbroking business in a single group. Leveraging on our experience in pawnbroking services, in 2018, Dato' Low, through Trax Capital, incorporated Cahaya Gold to venture into the business of retail and trading of gold and luxury products to complement our pawnbroking business.
Between April 2018 to June 2021, Trax Capital issued the following securities to raise total gross proceeds of RM116.7 million as cash capital for the expansion of our pawnbroking business:
i) 68.2 million ordinary shares at an issue price of RM1.00 each
ii) 19.0 million ordinary shares at an issue price of RM1.30 each;
iii) 18.7 million ordinary shares at an issue price of RM0.26 each. The lower issue price was due to Trax Capital's share split exercise on 15 June 2021, which entails the subdivision of every 1 existing ordinary share into 5 ordinary shares
iv) 2.0 million RCPS at an issue price of RM1.00 each; and
v) 17.0 million ICPS at an issue price of RM1.00 each
For information purposes, the issue price of the respective securities were arrived at on a negotiated basis between Trax Capital and the respective securities holders after taking into account, amongst others, the NA of the Trax Capital group of companies.
In March 2019, all the 2.0 million RCPS were redeemed by Trax Capital at the redemption price of RM1.00. In December 2020, 8.0 million ICPS were converted into 7.7 million ordinary shares in Trax Capital at the conversion price of RM1.04, whilst the remaining 9.0 million ICPS were converted into 6.9 million ordinary shares in Trax Capital at the conversion price of RM1.30.
In January 2020, through Cahaya Gold, we began offering pawnbroking consultancy services to third party pawnbrokers whom we have identified to be not in direct competition with our “Pajaking” pawnshops in order to generate an additional revenue stream to our Group.
In March 2020, Trax Capital acquired Atapttech, an IT solution provider, in order to own a proprietary pawn processing system to standardise the operating procedures as well as to enhance the operational efficiency of our pawnbroking subsidiaries. In the same year, Trax Capital ventured into the business of providing IT solutions to third-party pawnbrokers.
Subsequent to the Acquisitions, in 2022, Dato' Low, Datin Tea, Low Kai Loon and Low Kai Sein (son of Dato' Low and Datin Tea, and brother of Low Kai Loon) had consolidated their entire shareholdings in our Company under Tirai Anggerik by transferring their entire shareholdings in our Company to Tirai Anggerik.
2012 - The company opened our first pawnshop in Sungai Besi, Kuala Lumpur and another new pawnshop in Triang, Pahang.
2015 - The company opened 3 new pawnshops in the following locations:
i) Ampang, Selangor
ii) Seri Kembangan, Selangor
iii) Taman Maluri, Kuala Lumpur
2017 - The company opened 4 new pawnshops in the following locations:
i) Chow Kit, Kuala Lumpur
ii) Mahkota Cheras, Selangor
iii) Shah Alam, Selangor
iv) Taman Putra, Selangor
2018 - The company opened 7 new pawnshops in the following locations:
i) Jalan Tun Tan Cheng Lock, Kuala Lumpur
ii) Kajang, Selangor
iii) Petaling Jaya, Selangor
iv) Puchong, Selangor
v) Pudu, Kuala Lumpur
vi) Senawang, Negeri Sembilan
vii) Setapak, Kuala Lumpur
As our network of pawnshops grew, we began to operate our pawnbroking business under the trade name “Pajaking” in order to strengthen our market presence as a pawnbroker.
2019 - The company opened 6 new pawnshops in the following locations:
i) Brickfields, Kuala Lumpur
ii) Nilai, Negeri Sembilan
iii) Shah Alam, Selangor
iv) Bandar Sri Permaisuri, Kuala Lumpur
v) Sungai Way, Selangor
We opened our first “Cahaya Gold” retail outlet in Ampang, Kuala Lumpur.
2020 - The company opened a new “Cahaya Gold” retail outlet in Jalan Genting Kelang, Kuala Lumpur. The Company began offering pawnbroking consultancy services to third-party pawnbrokers.
2021 - The company opened a new “Cahaya Gold” retail outlet in Wisma Trax, Kuala Lumpur. The company began offering IT solutions to third-party pawnbrokers