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.
GEORGE TOWN: Tashin Holdings Bhd
, scheduled to be listed on Aug 1 on the ACE Market, plans to utilise about RM25mil to expand its business operations this year.
Group managing director Lim Choon Teik said that the funds, to be raised from its initial public offering (IPO) exercise, would be used for setting up a factory in Seberang Prai, upgrade the existing steel processing line, purchase the necessary machinery, and support its business expansion into the manufacturing of wire mesh.
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