Skyro approved for online moneylending in Malaysia
The consumer finance group will start with cash loans and plans to add other products, making Malaysia its second Southeast Asian market after the Philippines.
Consumer finance group Skyro has obtained permission from the Ministry of Housing and Local Government (KPKT) for online moneylending in Malaysia. The company said its Malaysian operation would begin by offering cash loans, with additional consumer finance products planned later.
For borrower assessments, Skyro plans to combine artificial intelligence (AI) with alternative data and traditional indicators. It said this approach would include consumers whose limited credit histories may leave them underserved by conventional financial institutions.
Co-founder and co-CEO Arsen Liametov said Skyro intended to tailor its business to Malaysia’s market conditions and regulatory requirements, rather than copy its operations in the Philippines. Malaysia will be the group’s second market in Southeast Asia.
Skyro uses the trading name of AT Series Capital Sdn Bhd, which holds a moneylending licence under KPKT’s regulation through the Moneylenders Act 1951. The licence runs from July 27, 2026 to July 26, 2028. Its advertisement permit covers Sept 4, 2026 to July 26, 2028.
The expansion follows the implementation in March of the Consumer Credit Act 2025. The Act created the Consumer Credit Commission and widened the regulatory framework for consumer protection and fair, transparent and responsible lending practices.
Established in 2022, Skyro said its Philippine consumer finance business had attracted more than seven million registered users, while its credit portfolio exceeded US$200 million.
