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ValueMax Group Ltd.
(SGX:T6I)
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Rating:59Neutral
Price Target:
S$1.00
▲(6.38% Upside)
Action:Reiterated
Date:08/17/26
The score is held back mainly by persistently negative operating and free cash flow alongside elevated and rising debt, which increases financing risk despite strong reported profitability. Technical indicators are broadly neutral, while valuation is a relative positive due to the low P/E and ~4% dividend yield.
Positive Factors
Sustained Revenue Growth
Revenue has more than doubled since 2021 and continued expanding through the TTM period, indicating sustained scale growth and customer activity. If maintained, broader operating scale can support earnings resilience, although cash conversion remains a separate constraint.
Negative Factors
Persistent Negative Cash Flow
Reported profits are not translating into cash generation, with operating and free cash flow deeply negative in the latest periods. Persistent weak conversion can increase reliance on external funding and constrain the company’s ability to reinvest or reduce debt.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Revenue has more than doubled since 2021 and continued expanding through the TTM period, indicating sustained scale growth and customer activity. If maintained, broader operating scale can support earnings resilience, although cash conversion remains a separate constraint.
Read all positive factors
ValueMax Group Ltd. (T6I) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$918.87M
Dividend Yield4.12%
Average Volume (3M)209.73K
Price to Earnings (P/E)8.0
Beta (1Y)0.70
Revenue Growth32.49%
EPS Growth15.58%
CountrySG
Employees141
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)0.12
Shares Outstanding947,391,540
10 Day Avg. Volume110,510
30 Day Avg. Volume209,726
Financial Highlights & Ratios
PEG Ratio0.72
Price to Book (P/B)1.50
Price to Sales (P/S)1.64
P/FCF Ratio-5.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.11
Revenue Forecast (FY)S$571.90M
ValueMax Group Ltd. Business Overview & Revenue Model
Company Description
As an investment holding entity, ValueMax Group Limited operates a multifaceted business, predominantly within Singapore, encompassing pawnbroking, moneylending, the sale of jewelry and watches, and gold trading. Its pawnbroking division facilitat...
How the Company Makes Money
ValueMax Group Ltd. primarily makes money through its pawnbroking business model. Customers pledge valuables (commonly gold and jewelry) as collateral to obtain short-term loans. The company earns revenue mainly from (i) interest income and servic...
ValueMax Group Ltd. Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
57
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 655.52M | 553.13M | 456.18M | 331.04M | 287.06M | 275.51M |
| Gross Profit | 186.41M | 159.48M | 129.81M | 100.22M | 76.79M | 70.03M |
| EBITDA | 135.84M | 139.48M | 107.72M | 65.89M | 59.27M | 54.84M |
| Net Income | 116.67M | 102.08M | 82.83M | 52.85M | 44.42M | 41.51M |
Balance Sheet | ||||||
| Total Assets | 1.76B | 1.56B | 1.25B | 1.08B | 1.01B | 799.12M |
| Cash, Cash Equivalents and Short-Term Investments | 18.77M | 22.42M | 16.80M | 16.03M | 10.99M | 14.60M |
| Total Debt | 1.06B | 897.16M | 698.34M | 624.66M | 618.93M | 453.60M |
| Total Liabilities | 1.11B | 948.36M | 729.31M | 647.67M | 641.37M | 471.72M |
| Stockholders Equity | 645.20M | 605.41M | 512.06M | 423.44M | 363.89M | 322.32M |
Cash Flow | ||||||
| Free Cash Flow | -190.13M | -169.28M | -67.27M | -1.69M | -163.83M | -156.09M |
| Operating Cash Flow | -189.38M | -165.46M | -55.86M | 3.53M | -163.36M | -153.73M |
| Investing Cash Flow | -1.98M | -8.54M | -11.28M | -5.07M | 246.00K | -2.62M |
| Financing Cash Flow | 161.30M | 184.02M | 64.42M | 5.99M | 155.63M | 159.77M |
ValueMax Group Ltd. Technical Analysis
Positive
0.94
Price Trends
0.94
Positive
0.97
Positive
0.99
Negative
Market Momentum
<0.01
Negative
57.19
Neutral
52.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:T6I, the sentiment is Positive. The current price of 0.94 is below the 20-day moving average (MA) of 0.96, below the 50-day MA of 0.94, and below the 200-day MA of 0.99, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 57.19 is Neutral, neither overbought nor oversold. The STOCH value of 52.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:T6I.
ValueMax Group Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | S$1.80B | 10.00 | 17.57% | 2.14% | 15.08% | 32.76% | |
68 Neutral | S$111.88M | 4.94 | 14.92% | 1.34% | 59.15% | 80.80% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | S$918.87M | 7.98 | 18.66% | 4.12% | 32.49% | 15.58% | |
59 Neutral | S$744.18M | 0.13 | 28.93% | 4.65% | 31.78% | 168.13% |
* Consumer Cyclical Sector Average
SG:T6I
ValueMax Group Ltd.
0.99
0.03
2.93%
SG:5UF
Aspial Lifestyle
0.37
0.16
74.64%
SG:42L
Taka Jewellery Holdings Ltd.
0.20
0.05
32.45%
SG:5WJ
MoneyMax Financial Services Ltd.
0.81
0.30
60.36%
SG:AGS
Hour Glass Ltd.
2.80
0.80
39.86%
SG:C41
Cortina Holdings Limited
4.06
0.68
20.30%
ValueMax Group Ltd. Corporate Events
ValueMax Warns 2023 Warrants Near Expiry as Exercise Window Closes
Aug 14, 2026
ValueMax Group Ltd., a Singapore-listed financial services firm specialising in pawnbroking and moneylending, has structured its capital base using rights issues and tradable warrants to support its consumer-focused lending and retail operations. ...
ValueMax Takes 40% Stake in Indonesian Pawnbroker PT Gadai
Aug 13, 2026
ValueMax Group has expanded its regional presence through its wholly owned subsidiary PT VMH Investment Indonesia, which subscribed for 484 million new ordinary shares in PT Gadai ValueMax Indonesia for Rp48.4 billion. Following the transaction, t...
ValueMax Expands Share Capital Through Warrant Exercise
Aug 12, 2026
ValueMax Group Ltd. has expanded its issued share capital through the allotment and issuance of 50,566 new ordinary shares following the exercise of an equivalent number of warrants at an exercise price of S$0.36 per share. This increases the comp...
ValueMax Highlights Financial Update from Malaysian Associate Well Chip Group
Aug 10, 2026
ValueMax Group Limited has announced that its Malaysian associated company, Well Chip Group Berhad, has released financial results for the period ended 30 June 2026 on Bursa Malaysia. The disclosure underscores ValueMax’s ongoing linkage to ...
ValueMax Corrects Listing Date and Documentation for S$80m Note Issue
Jul 14, 2026
ValueMax Group Ltd. has corrected two key details in its recent announcement on the S$80 million 4.00 per cent notes due 2029 issued under its S$300 million multicurrency medium-term note programme. The company clarified that the notes are expecte...
ValueMax Issues New Shares After Warrant Exercise
Jul 14, 2026
ValueMax Group Ltd. has expanded its issued ordinary share capital from 946,948,861 to 946,951,861 shares following the exercise of 3,000 warrants at an exercise price of S$0.36 each on 14 July 2026. The newly issued shares will rank pari passu wi...
ValueMax Issues S$80 Million Notes Under Medium-Term Programme
Jul 10, 2026
ValueMax Group Ltd. has issued S$80 million of 4.00 per cent. notes due 2029 under its S$300 million multicurrency medium-term note programme, with DBS Bank Ltd. and Oversea-Chinese Banking Corporation acting as joint lead managers. The notes have...
ValueMax prices S$80m 4% notes under S$300m MTN to fund growth
Jul 1, 2026
ValueMax Group has priced a S$80 million tranche of 4.00% notes due 2029 under its S$300 million multicurrency medium term note programme, targeting institutional and accredited investors in Singapore, with DBS Bank as sole global coordinator and ...
ValueMax Raises S$32.14 Million in Latest Digital Commercial Paper Issuance
Jun 30, 2026
ValueMax Group Ltd. has successfully closed its 3-month Series 019 digital securities commercial paper issuance, launched on 30 June 2026, raising gross proceeds of S$32.14 million following strong investor demand. The digital securities from this...
ValueMax Raises S$55.89m in SDAX Digital Commercial Paper with Strong Insider Support
Jun 30, 2026
ValueMax Group has successfully closed its 3‑month Series 013 digital securities commercial paper issuance on the SDAX platform, raising S$55.89 million after strong investor demand. The securities will be issued on 30 June 2026, further exp...
ValueMax Issues New Shares Following Warrant Exercise
Jun 23, 2026
ValueMax Group Limited has expanded its issued share capital slightly, increasing the number of ordinary shares from 946,948,501 to 946,948,861 following the exercise of 360 warrants at an exercise price of S$0.36 each on 23 June 2026. The newly i...
ValueMax Launches New 3‑Month Digital Commercial Paper on SDAX
Jun 16, 2026
ValueMax has launched the thirteenth series of its three‑month commercial paper as digital securities on the SDAX Exchange, continuing the expansion of its short‑term funding programme. The new issuance underlines the group’s ong...
ValueMax Flags Rights Issue by Malaysian Associate Well Chip
Jun 5, 2026
ValueMax Group has announced that its Malaysian associated company, Well Chip Group Berhad, plans a renounceable rights issue of new ordinary shares on Bursa Malaysia. The move signals a capital-raising effort by Well Chip that could influence the...
ValueMax Updates S$300m Note Programme to Align Covenants and Refresh Disclosures
Jun 5, 2026
ValueMax Group Ltd. has amended its S$300 million multicurrency medium term note programme, updating the programme agreement, trust deed and information memorandum to reflect regulatory changes, revised selling restrictions and aligned financial c...
ValueMax Issues New Shares on Warrant Exercise, Increases Share Capital
Jun 3, 2026
ValueMax Group Ltd. has expanded its issued share capital through the allotment of 8,000 new ordinary shares, following the exercise of an equal number of warrants at an exercise price of S$0.36 per share. This raises the company’s total iss...
ValueMax Issues New Shares After Warrant Exercise, Leaves Large Pool Outstanding
May 22, 2026
ValueMax Group Limited has marginally increased its issued share capital, with total ordinary shares rising from 946,925,843 to 946,926,341 after the allotment of 498 new shares from a recent warrant exercise. The new shares, issued at an exercise...
ValueMax Highlights Release of Well Chip’s Latest Financial Results
May 22, 2026
ValueMax Group Limited has announced that its Malaysian associated company, Well Chip Group Berhad, has published its financial results for the period ended 31 March 2026 on Bursa Malaysia. The disclosure underscores ValueMax’s ongoing link ...
ValueMax Shareholders Approve Dividend, Board Line-Up and Share-Issue Mandate at AGM
May 21, 2026
ValueMax Group Ltd. detailed the proceedings of its 21 April 2026 annual general meeting in Singapore, where shareholders overwhelmingly approved the adoption of the directors’ report and audited financial statements for the year ended 31 De...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.