PETALING JAYA: Sersol Bhd
is seeking shareholders’ approval to ratify its diversification into moneylending services and to formally diversify into enterprise information and communication technology (ICT) solutions.
In a filing with Bursa Malaysia, the company said the ratification was required after loans extended by its subsidiary accounted for more than 25% of the group’s net assets.
The moneylending business is carried out through wholly-owned subsidiary Happy Capital Sdn Bhd (HCSB), which Sersol acquired for RM44,000 in February 2024.
HCSB is principally involved in the provision of moneylending services.
Sersol said the business commenced in July 2024, but HCSB only began disbursing loans in April 2025 after putting in place the necessary processes, loan criteria and key personnel, as well as identifying suitable borrowers.
Sersol said the board had initially been of the view that the moneylending business would not result in a diversification under the listing requirements.
“However, the group subsequently noted that the allocation of its net assets to the moneylending business had exceeded the threshold prescribed under the listing requirements,” it said.
“In view of the diversion of more than 25% of the group’s net asset as at June 30, 2025, of which the prior approval of the shareholders was not obtained earlier, the company wishes to seek its shareholders’ approval for the proposed ratification.”
Its first loan, amounting to RM3.7mil, was provided in April 2025, with HCSB having provided loans to five borrowers with a total principal sum of RM8.95mil as at June 30, 2025.
The loans had a carrying amount of RM8.9mil, representing 47.49% of Sersol’s audited net assets of RM18.74mil at the time.
For the nine-month period ended March 31, 2026, the moneylending business contributed a net profit of RM460,000, while the group recorded a net loss of RM960,000.
As at March 31, 2026, the loans stood at RM8.8mil, equivalent to 46.05% of the group’s unaudited net assets of RM19.11mil.
Separately, Sersol is seeking shareholders’ approval for its proposed diversification into the supply of enterprise ICT solutions, including software, hardware, services, telecommunications and networking.
This follows its 51%-owned subsidiary Sersol E-Solutions Sdn Bhd entering into a RM15.62mil contract with Zetrix AI Bhd on April 6, 2026, to supply hardware, provide software subscriptions and support services.
Sersol said the ICT business commenced in April 2026, with the subsidiary issuing its first RM1.39mil billing for hardware supplied to Zetrix that month.
“Moving forward, the board expects the ICT business to result in either the diversion of 25% or more of the net assets of the group to the ICT business or contribution of 25% or more of the net profits of the group,” it noted.
Sersol said the proposed diversification, along with the ratification of its moneylending business, is subject to shareholders’ approval at a general meeting, targeted for the third quarter of 2026.
The two proposals are not inter-conditional and are not subject to any other corporate exercise, it added.
