ELK-Desa's shares up after obtaining approval for money-lending licence

PETALING JAYA: ELK-Desa Resources Bhd’s shares rose 0.83% this morning after its wholly owned subsidiary ELK-Desa Capital Sdn Bhd (EDC) obtained approval for a money-lending licence.

At 11.41am, its share price rose 0.83% or 1 sen to RM1.21 with a total of 115,200 shares traded.

The group told Bursa Malaysia yesterday that EDC received a letter of approval from the Urban Wellbeing, Housing and Local Government Ministry for a money-lending licence, which will allow it to undertake any business of those relating to money-lending activities.

ELK-Desa provides purchase financing for used motor vehicles.