This article first appeared in The Edge Financial Daily on September 19, 2019

KUALA LUMPUR: OSK Ventures International Bhd said yesterday it had secured a moneylending licence from the government.

The group said its wholly-owned subsidiary OSK Loan Ventures Sdn Bhd had obtained the licence, under the Moneylenders Act 1951 and Moneylenders (Control and Licensing) Regulations 2003, to undertake moneylending activities and to provide loans. OSK Ventures and its subsidiaries are involved in venture capital and private equity businesses. The group provides equity capital to companies ranging from revenue-generating start-ups to late-stage growth companies with operating profit track records, seeking expansion capital for restructuring or growth acceleration purposes.

For the year ended Dec 31, 2018, OSK Ventures slipped into the red with a net loss of RM29.67 million versus a net profit of RM31.21 million the previous year, although revenue jumped to RM178.55 million from RM95.36 million.