TOMEI Consolidated Bhd’s subsidiary, TXG Financial Solutions Sdn Bhd, has received approval from the Ministry of Local Government Development (KPKT) to initiate an online money lending venture, operating within the framework of its existing money lending license.

The company told the stock exchange today that the approval is not expected to have a significant impact on its earnings per share and net assets per share for the fiscal year ending on December 31, 2023.

Tomei Consolidated’s stock price closed 1.7% higher at RM1.17 per share today. – TMR