Pan Malaysia in JV with Baker & Cook

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

PETALING JAYA: A unit of Pan Malaysia Corp Bhd has entered into a joint venture and shareholders agreement (JVSA) with Baker & Cook Pte Ltd (B&C) in relation to the forming of a JV company in Malaysia.

The group said the purpose of the JVSA was for its unit, Megafort Sdn Bhd (MSB), and B&C to regulate their relationship with regards to their respective shareholdings in the JVCo.