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MoneyMax partners Japanese listco to develop online B2B auction site

Michelle Zhu
Michelle Zhu9/22/2017 01:37 PM GMT+08  • 3 min read
MoneyMax partners Japanese listco to develop online B2B auction site
SINGAPORE (Sept 22): MoneyMax Financial Services, the Catalist-listed pawnbroker, retailer and trader of pre-owned jewellery and watches, has signed a joint venture (JV) agreement with Japan’s Aucnet Inc. to jointly develop what will be Singapore’s fi
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SINGAPORE (Sept 22): MoneyMax Financial Services, the Catalist-listed pawnbroker, retailer and trader of pre-owned jewellery and watches, has signed a joint venture (JV) agreement with Japan’s Aucnet Inc. to jointly develop what will be Singapore’s first online business-to-business (B2B) live auction site for luxury branded merchandise, gold, and diamond goods.

Aucnet is a real-team auction platform company which listed on the Tokyo Stock Exchange in March. Its wholly-owned subsidiary AIS Inc. is a third-party inspector of used vehicles in Japan.

Currently, the group runs an existing platform which deals with the auctioning of used automobiles, electronic products, flowers as well as branded items, and has a membership of over 24,500 companies.

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