Fajarbaru Builder’s unit gets moneylender licence

Fajarbaru Builder’s unit gets moneylender licence
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KUALA LUMPUR (Aug 21): Fajarbaru Builder Group Bhd's wholly-owned subsidiary Fajarbaru Trading Sdn Bhd has today obtained a Malaysia moneylender licence which allows the latter to undertake money-lending business.

In a statement to Bursa Malaysia today, Fajarbaru Builder said the moneylender licence was issued by the Housing and Local Government Ministry under the country's Moneylenders Act 1951 and Moneylenders (Control and Licensing) Regulations 2003.

"The licence shall be valid for a period of two years effective from 13 August 2020 to 12 August 2022 and it is renewable upon the renewal application (being) made with the ministry," Fajarbaru Builder said.

According to Fajarbaru Builder's website, the group's existing businesses include construction, property development and timber operations.

At Bursa Malaysia today, Fajarbaru Builder's share price closed up 0.5 sen or 1.16% at 43.5 sen, for a market value of RM161.3 million. The stock saw 781,200 shares traded.