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Revenue Group unit gets nod to undertake money lending activities

TheEdge Thu, Mar 14, 2019 - 2 months ago

KUALA LUMPUR (March 14): Payment solutions provider Revenue Group Bhd said it has fulfilled the conditions for a money lending licence.

This, it said, was confirmed by the the Housing and Local Government Ministry in a letter to the group’s wholly-owned unit Revenue Harvest Sdn Bhd.

The licence, to operate as a money lender under the Moneylenders Act (1951, will be issued upon payment of the licence fee within 30 days, Revenue Group said in a filing.

“The approval allows Revenue Harvest to undertake any business of those relating to money lending activities,” it said.

Shares of Revenue Group rose one sen or 0.84% to close at RM1.20 apiece, giving the group a market capitalisation of RM267.42 million.

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