In a market flooded with loan offers, distinguishing a trustworthy lender from a potential scam is no easy task. The question “Is First N Ever Financial Services trustworthy” is one that many Malaysian SMEs and individuals ask before committing to a financing application. This article examines the available evidence — from KPKT licensing and SSM registration to customer reviews on independent platforms like RinggitPlus and CompareHero. By looking at the company’s 20-year track record, regulatory compliance, fee transparency, and client feedback, we aim to provide a balanced assessment of whether First N Ever Financial Services is reliable and whether First N Ever Financial Services is worth trusting for your financing needs.
Quick Summary
KPKT License & SSM Registration – The Legal Foundation of Trust
The first and most important factor in assessing whether First N Ever Financial Services is trustworthy is its legal standing. First N Ever operates as FIRST N EVER FINANCIAL SERVICES SDN.BHD, a company registered with the Companies Commission of Malaysia (SSM) . The company holds a valid KPKT moneylender‘s license with the number WL7285/10/01-4/040927, valid from 10 October 2024 to 10 October 2026.
What does KPKT licensing actually mean for a borrower? In Malaysia, any company engaged in money lending must obtain a license from KPKT (Ministry of Housing and Local Government). This license is not easy to obtain and requires the company to adhere to strict regulations under the Moneylenders Act 1951. These regulations include:
- Interest rate caps: The law caps secured loans at 12% per annum and unsecured loans at 18% per annum.
- Prohibition on upfront fees: Licensed lenders cannot charge any fees before they disburse the loan.
- Contract transparency: Lenders must clearly state all terms, interest rates, and charges in the loan agreement.
- Regular compliance audits: KPKT conducts annual reviews of licensed lenders to ensure ongoing compliance.
First N Ever is also listed on RinggitPlus as “a licensed money lender and credit community registered with KPKT with over 20 years of experience in providing financial assistance to Malaysians”. Similarly, CompareHero confirms that First N Ever is “a licensed financial provider and credit community registered with KPKT”. The company’s own terms and conditions state that it “operates as a licensed money lender under the laws and regulations of Malaysia” and adheres to the Moneylenders Act 1951.
This combination of SSM registration, KPKT licensing, and third-party verification provides a strong legal foundation for First N Ever Financial Services trustworthiness. A company that has maintained its KPKT license for over 20 years without suspension or revocation is operating within a framework of legal accountability — and that is a critical first indicator of reliability.
20 Years in Business – What Longevity Says About Trustworthiness
When evaluating whether First N Ever Financial Services is reliable, the company‘s track record speaks volumes. First N Ever has been in operation since 2006 — over 20 years in the Malaysian financial services industry. According to RinggitPlus, the company has “over 20 years of experience in providing financial assistance to Malaysians”. CompareHero makes a similar statement, noting that First N Ever has been “in the industry for over 20 years”.
Why does longevity matter when assessing whether First N Ever Financial Services is worth trusting?
20 years means the company has survived multiple economic cycles. First N Ever has operated through the 2008 global financial crisis, the 2015 economic slowdown, and the 2020 COVID-19 pandemic. A company that can sustain its operations through these challenges demonstrates financial resilience and sound business practices. Scams and fly-by-night operators typically disappear within months or a few years — not two decades.
20 years means accumulated accountability. Over two decades, First N Ever has filed annual reports with SSM, undergone annual KPKT compliance reviews, and served thousands of customers. This creates a paper trail that can be verified. A company with this history cannot simply vanish — it has too many regulatory and operational ties.
Fee Transparency – No Hidden Costs, No Upfront Payments
One of the most common red flags in the lending industry is hidden fees and upfront payment requests. When assessing whether First N Ever Financial Services is reliable, the company‘s fee structure is a critical area to examine.
According to RinggitPlus, First N Ever’s fees are clearly disclosed:
- Interest Rate: From 12% p.a. (secured) to 18% p.a. (unsecured)
- Stamp Duty: 0.5% of the total loan amount
- Processing Fee: As per the loan agreement
- Early Termination Fee: Not applicable
- Late Penalty Fee: 8% per annum on the outstanding amount
Crucially, RinggitPlus also highlights that First N Ever does not require any advance instalment fee or security deposit before the financing application. This “zero upfront payment” policy is a key differentiator from illegal lenders, who often demand “processing fees” or “guarantee deposits” before disbursing any funds — and then disappear.
For borrowers, this transparency means you know exactly what you are paying before you sign. The interest rate is fixed for the loan tenure, and the fees are itemized. There are no surprise charges that appear after you have committed. This level of disclosure is required by KPKT regulations, but not all lenders make it as clear as First N Ever does.
When a lender is transparent about its fees and does not ask for money before disbursement, it sends a strong signal about whether First N Ever Financial Services is worth trusting.
What Customers Say – Reviews from RinggitPlus and CompareHero
Beyond licenses and policies, the most direct evidence of whether First N Ever Financial Services is trustworthy comes from the customers who have actually used its services. While detailed review scores are not the focus here, the presence of First N Ever on major financial comparison platforms is itself significant.
First N Ever is listed on RinggitPlus, one of Malaysia‘s largest financial comparison websites. Specifically, the platform provides detailed product information, including interest rates, fees, and eligibility criteria. Furthermore, RinggitPlus does not list lenders that are not properly licensed or that have significant unresolved customer complaints. As a result, the fact that First N Ever is featured on this platform adds a layer of third-party validation.
The company‘s Facebook page (First N Ever MY) provides additional insight into its customer engagement. The page is active, with posts addressing current business topics and promoting the company‘s services to SME owners. The page highlights key selling points: financing up to seven figures, 60-month flexible repayment, no guarantor required, and no hidden fees. While social media presence alone does not prove trustworthiness, the combination of an active Facebook page, presence on two major comparison platforms, and a 20-year operating history paints a picture of a company that is engaged with its market and accountable to its customers.
First N Ever Financial Services
Official Website：firstnevermalaysia.com
Business Loan Microsite：businessloan.firstnevermalaysia.com
Email：enquiry.firstnever@gmail.com
Adress：B26-3A, Tower B, Vertical Business Suite, Bangsar South, No. 8 Jalan Kerinchi, 59200 Kuala Lumpur
🤔 6 Questions About Whether First N Ever Financial Services Is Trustworthy
Licensing, track record, and customer experience answered · Click to expand