Aspial Lifestyle Limited said on Aug, 07 2026 that it undertook a series of corporate actions in the first half of 2026, including subsidiary amalgamations, an internal restructuring, equity re-alignments and a completed purchase in Malaysia.
The jewellery and pawn-broking group merged three wholly-owned units—Aspial Lifestyle Jewellery Group, Goldheart Jewelry and Lee Hwa Jewellery—into a single entity on Jan, 01 2026. On the same date, Maxi-Cash Jewellery Group was combined with Maxi-Cash Retail, with the former continuing as the surviving company.
On Jun, 02 2026, the parent company bought a 40% stake in Maxi Capital Wealth Holding from its subsidiary Maxi-Cash Capital Management. The transaction left the group’s effective interest unchanged at 40% but converted the holding from indirect to direct.
Maxi-Cash Capital Management itself issued new shares on May, 22 2026, allotting 14.25 million shares to Aspial Lifestyle for S$14.15 million and 0.75 million shares to individual investor Meelan Gurung for S$0.75 million in connection with the purchase of additional shares in BigFundr. As a result, Aspial Lifestyle’s stake in the unit fell to 95%, while Gurung now holds 5%.
On the same day, Maxi-Cash Capital Management acquired the remaining 10% of BigFundr for S$1.34 million, of which S$0.75 million was settled through the new shares issued to Gurung and S$0.59 million by setting off debt. BigFundr is now a wholly-owned subsidiary.
Rounding off the half-year activity, indirect subsidiary Maxi Cash (Malaysia) completed the takeover of Ion World, Kedai Emas Ion and Focus Resources on Jun, 26 2026 for RM147.3 million (about 46.42 million Singapore dollars) in cash funded by internal resources and borrowings. A further RM3.0 million (0.95 million Singapore dollars) was withheld for up to 12 months to cover potential liabilities. The target group had a pro-forma net asset value of RM56.9 million (18.0 million Singapore dollars) as at Dec 31 2025.
Aspial Lifestyle said all entities involved remain subsidiaries or associated companies of the group after the transactions.