Prime Global Capital Group Looks Into Applying for Money Lending License Through Malaysia's Money Lenders Act 1951

KUALA LUMPUR, MALAYSIA--(Marketwired - Sep 12, 2016) - Prime Global Capital Group Inc. (OTCQB: PGCG) ("PGCG" or the Company"), a company, through its subsidiaries, engaged principally in real estate and plantation businesses in Malaysia, today announced that the Company is looking into applying for a money lending license through the Malaysian Government's Money Lender's Act 1951, which as announced on September 8, 2016, allows developers to apply for and receive a money lending license to provide housing loans to buyers.

Weng Kung Wong, CEO of PGCG, commented, "For some prospective buyers, obtaining a bank loan is difficult and burdensome. The Ministry's recent announcement will help alleviate that burden for both buyers and sellers. With a money lender's license, we can provide financial assistance to buyers which will undoubtedly aid in boosting the sale and marketing of our properties that we have earmarked for development."

Mr. Wong continued, "In my experience having acquired and utilized a Money Lending License through my former venture, Mobile Wallet, the ability to provide financial assistance proves to be highly beneficial to conveying our value proposition. I'm confident, given my experience, that PGCG will have a high likelihood of receiving the license once we apply."

PGCG has earmarked two properties for development -- in Puncak Alam and in Bandar Sg Long -- both of which are approved as "mixed development properties." The Money Lending License, if approved, will be used to provide financing to buyers of these future properties.

About Prime Global Capital Group: Prime Global Capital Group Incorporated, through its subsidiaries, engages principally in the real estate and plantation businesses in Malaysia. The company acquires, develops, constructs, manages, operates, and sells commercial and residential real estate properties located in Malaysia, primarily in Kuala Lumpur and Selangor. PGCG is also involved in the cultivation and distribution of oil palm to third party, oil palm processors, refineries, oil palm product manufacturers, as well as harvesting and operating a durian plantation. The company is based in Kuala Lumpur, Malaysia.

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