The board of directors of Oi Wah Pawnshop Credit Holdings Limited and PACM Group (Holdings) Limited jointly announced that, the two companies have entered into a memorandum of understanding (the "MOU"), in relation to developing the international real estate private credit institutional investment management business and establishing an investment fund. The investment strategies of the fund will include asset-backed direct lending, non-performing debt acquisition, acquisition financing, stretch senior financing, project financing, bridge financing and other debt related strategies. As part of this strategic partnership, the two parties will participate in a series of overseas investor roadshows, with Taiwan as their first stop.

Through the roadshows, the two parties will introduce the fund's investment strategy and uniqueness to potential investors to attract more participants. The expected fund size will be up to USD 300 million. According to the MOU, one of the potential cooperation models between both parties is to jointly establish a limited partnership fund with Oi Wah acting as the cornerstone investor by providing initial capital for the fund; and a company to be jointly established by both parties to act as the general partner of the fund, the specific content of the cooperation model will be set out in a formal agreement to be entered into between both parties.