Palawan_Pawnshop

Palawan Pawnshop

Palawan Pawnshop

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Palawan Pawnshop – Palawan Express Pera Padala is a Philippine-based pawnshop and non-banking financial institution offering services such as pawn-broking, money remittance, insurance, bills payment, remit-to-account, corporate payout, collections, and electronic reloading. It is headquartered in Puerto Princesa, Palawan.

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History

It was founded in 1985, originally owned by the Rodriguez family, with the intention of providing cash-based financial assistance to the common folk of Puerto Princesa. It would later be acquired by spouses Bobby Castro and the former Angelita Maligalig, two former activists and both coming from a military family background. Bobby had wanted to establish a business portfolio of his own apart from managing his father's business.[1] After acquiring the business from the Rodriguez family for ₱40 thousand,[2] its first outlet was established along Malvar Street in the city.[3]

In 2021, digital cross-border payment service WorldRemit partnered with Palawan Pawnshop to increase its remittance network.[4]

In the beginning of 2024, Castro's eldest son Karlo took over as President and CEO. However, he stayed on to become the Chairman of the Palawan Pawnshop Group.

References

  1. [1]
    Tayao-Juego, Annelle (February 3, 2019). "Ex-activists find a new cause". Philippine Daily Inquirer. Retrieved December 23, 2021.
  2. [2]
    "Palawan Pawnshop CEO Bobby Castro receives honorary doctorate degree". BusinessMirror. June 26, 2021. Retrieved December 23, 2021.
  3. [3]
    "Palawan show to mark pawnshop's 30th year". Philippine Daily Inquirer. August 14, 2015. Retrieved December 23, 2021.
  4. [4]
    Almazan, Faye (February 19, 2021). "WorldRemit ties up with Palawan Pawnshop". The Manila Times. Retrieved January 11, 2022.
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