【RCECAP 9296 交流专区】RCE资本

哭哭鸟

RCE資本次季淨利大漲80%
2016年11月04日
http://www.chinapress.com.my/20161104/次季淨利大漲80-rce資本一度漲16仙/

（吉隆坡4日詢）RCE資本（RCECAP，9296，主要板金融）次季淨利大漲80%。

根據馬證交所報備資料，RCE資本截至9月底次季營業額揚44%至5616萬令吉，淨利勁漲80%至1840萬令吉。

該集團指出，營業額成長主要因為消費者貸款融資部分的貸款基礎擴大和風險產品改善，帶來了較高的利息和費用收入。

RCE資本重新平衡資產和負債到期日的舉措，也讓當季利息費用從去年同期的1200萬令吉走升至1630萬令吉。

該集團指出，若無意外，截至明年3月底的財年度將是另一個可獲利年度。

9296                                                            

Quarterly rpt on consolidated results for the financial period ended 30/09/2016

Quarter: 2nd Quarter Financial Year End: 31/03/2017 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 30/09/2016 30/09/2015 30/09/2016 30/09/2015 RM '000 RM '000 RM '000 RM '000 1 Revenue 56,160 39,043 108,095 76,532 2 Profit/Loss Before Tax 25,503 13,858 48,933 26,242 3 Profit/Loss After Tax and Minority Interest 18,402 10,215 35,930 19,652 4 Net Profit/Loss For The Period 18,402 10,215 35,930 19,652 5 Basic Earnings/Loss Per Shares (sen) 5.62 3.20 11.02 6.17 6 Dividend Per Share (sen) 0.00 10.50 0.00 10.50 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 1.1800 0.3500

Ztd3088

这业绩真好！希望有高股息收入

icy97

RCE资本
估值仍诱人

2016年11月5日

分析：马银行投行
目标价：1.60令吉

最新进展

RCE资本（RCECAP，9296，主板金融股）截至9月30日次季，净利表现强劲，激增80%，达1840万令吉；营业额扩大43.8%，报5616万令吉。

累计上半年，净利大涨83%，达3593万令吉；营业额则增长41.2%，报1亿809万5000令吉。

公司次季表现走强，主要是（1）利息和费用收入走高；（2）扩大贷款规模；以及（3）消费者贷款业务支撑。

行家建议

RCE资本上半年取得的3590万令吉净利，高于我们的预期，占我们全年预测的67%。

首季的增长势头延伸到次季，这是正面迹象，净贷款按年大增16.7%，保持住首季的增速，不过，这可能是9月份佳节的因素。我们目前维持盈利预测，等待管理层最新汇报。

总债务按季上涨10%至11.9亿令吉，这是因为发售了第二批的回教债券，目前，该长期回债占总债务的22%，是正面因素，因为解决了集团资产负债失衡的问题。净负债率仍处于可管理的2.6倍水平。

由于竞争者缩减了业务，我们因而预测2017和2018财年的净贷款增长率，分别达16.3%和13.7%，主要是公务员的需求，以及市占率增长。

RCE资本的估值仍然有吸引力，2018财年的本益比仅有6.9倍。



【e南洋】

哭哭鸟

冷眼推荐股（十二）：RCECAP
Wednesday, November 23, 2016
http://bblifediary.blogspot.my/2016/11/rcecap.html

业务
- 贷款
- 工商贴现（Factoring）
- 投资控股

RCECAP（RCE资本，9296，主板金融股），成立于1953年12月18日，于1994年8月20日上市大马交易所第二板，并于2006年8月23日转至主板。

RCECAP是一家投资控股公司，其核心业务是通过旗下子公司KOWAJA合作社提供贷款给政府公务员，再以直接扣薪的方法偿还贷款。

这种业务性质看起来有点类似MBSB，同样也是提供贷款给公务员，并直接扣薪的方式收取供期。但当中有一点比较不同，MBSB是直接向公务员发放贷款，而RCECAP则需透过合作社来向公务员提供贷款服务。

今年4月，RCECAP进行了股票整合，将每4股面值2.5仙整合成1股面值10仙。

除了进行股票整合外，该公司也进行资本回退，将每股7.5仙的资本回退给股东。

自买迈入2017年首季，RCECAP开始脱胎换骨，连续两个季度
无论在营业额和净利都刷下新高：
2017年第一季：营业额5194万令吉，净利1753万令吉
2017年第二季：营业额5616万令吉，净利1840万令吉

该公司能够获得如此骄人的成绩有赖贷款的增加，其营业额才能取得如此显著的增长。而营业额增加也带动了利息收入增加。与此同时，该公司的非利息收入也取得增长。

尽管此业务依然从满挑战，但我相信该公司管理层有能力维持业务的增长。



免责声明：
以上投资分析，纯属本人个人意见和观点。

文章所提做出的数据与价格仅供参考，建议大家在买进一家公司的股份前，请先做功课并了解该公司，并衡量应何时进场和离场，任何人因看此文章而造成任何投资损失，本人恕不负责。切记，买卖自负！

icy97

RCE资本
投资回酬上看14.5%

2017年1月5日

分析：马银行金英
目标价：1.60令吉

最新进展：

过去数年，RCE资本（RCECAP，9296，主板金融股）积极重组、缩紧信贷控制和改善资本结构。

目前，该公司的资产品质大大改善，财务上也站稳脚。

行家建议：

由于私人贷款需求依然稳健，预计RCE资本接下来3年（即2016财年至2019财年）的贷款平均增幅达14%。

我们预计，RCE资本3年的净利年均复增（CAGR）为19%，主要是有贷款和佣金收入增长支撑，但遭赚幅缩窄和信贷成本走高所抵消。

RCE资本的投资回酬，应该会从2016财年的7.7%，上升至2018财年的14.5%。

与银行领域10%投资回酬及少于10%盈利的增幅相比，RCE资本较为吸引。

RCE资本在7.8倍本益比交易，与永旺信贷（AEONCR，5139，主板金融股）同等。

尽管如此，RCE资本3年净利CAGR预测为19%；永旺信贷为9%；银行领域则为4%。

无疑，基于银行业务有风险，折价是应该的。不过，我们预计，当市场慢慢认同RCE资本的强稳资产位置、改善盈利品质、良好增长展望和较好回酬时，估值差距会缩窄。



【e南洋】

哭哭鸟

RCE资本Q3赚2177万
2017年2月16日
http://www.enanyang.my/news/20170216/rce资本q3赚2177万/

（吉隆坡15日讯）RCE资本（RCECAP，9296，主板金融股）截至去年12月杪第三季，净赚2177万4000令吉，或每股净利6.52仙，按年扬67.45%，优于上财年同季的1300万3000令吉。

RCE资本今日向马交所报备，营业额则按年增39.54%，从上财年同季的4155万2000令吉，增至5798万2000令吉。

第三季营业额增长，主要归功于利息和费用收入走高。

累计首9个月，净赚5770万4000令吉，年增76.71%；营业额则按年涨40.64%，写1亿6607万7000令吉。

REC资本指出，将致力于简化流程，以改善营运效率。

除非出现不可预见的情况，否则，该公司在接下来的表现将继续令人满意。

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2016	31 Dec 2015	31 Dec 2016	31 Dec 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	57,982	41,552	166,077	118,084
2	Profit/(loss) before tax	23,702	16,840	72,635	43,082
3	Profit/(loss) for the period	21,774	13,003	57,704	32,655
4	Profit/(loss) attributable to ordinary equity holders of the parent	21,774	13,003	57,704	32,655
5	Basic earnings/(loss) per share (Subunit)	6.52	4.04	17.56	10.21
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	10.50
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.2400		0.3500

Ztd3088

业绩步步高升，心痒痒的又想买些，可否？

icy97

业绩亮眼激励股价　RCE財测上调

财经  2017年02月17日
（吉隆坡17日讯）受净利息收入增长超出预期，和强劲的净贷款成长所支撑，RCE资本（RCECAP，9296，主板金融股）交出俏秀的第3季业绩，分析员因此调高其未来3年的盈利预测和投资回酬率。

RCE资本于15日公佈的2017財政年第3季（截至去年12月31日止）净利按年上扬67.45%，至2177万令吉；营业额也按年上涨39.54%，至5798万令吉。

该公司首9个月的净利按年起76.71%，至5770万令吉；营业额也增加40.64%，至1亿6607万令吉。

马银行投行分析员表示，最新季度核心净利按年大幅成长，带动首9个月的核心净利按年大涨61%，至5240万令吉，已达到分析员全年预测的98%。

「儘管净贷款成长稍微放缓，但依然表现强劲，从次季的成长16.7%，放缓至14.3%，核心盈利按季下跌10%，主要是因为信贷成本提高，抵消了较高的净利息赚幅。」

展望未来，基於业绩表现出色，分析员上调其未来3个財政年的盈利预测，2017財政年盈利预测调高21%、2018財政年则上调16%和2019財政年调升15%。

同时，分析员也预期其投资回酬率在2018財政年將进一步改善至16.1%，比过去的14.5%高。

而融资成本料將温和成长，从2017財政年的2%，提高至2019財政年的2.3%。

另外，分析员也下调其2017至2019財政年的贷款成长预测，从早前预计的11%至16%，收窄至11%至13%。分析员指出，目前该股估值具有吸引力，因此上调其目標价至1.95令吉，但维持「买进」投资评级。【东方网财经】

icy97

Date of change	15 Mar 2017
Name	DATUK MOHAMED AZMI BIN MAHMOOD
Age	62
Gender	Male
Nationality	Malaysia
Designation	Independent Director
Directorate	Independent and Non Executive
Type of change	Appointment
Qualifications	Registered Financial Planner from the Malaysian Financial Planning CouncilFellow Chartered Banker from the Asian Institute of Chartered Bankers
Working experience and occupation	Datuk Mohamed Azmi Bin Mahmood has 36 years of experience in the banking industry. He joined Arab-Malaysian Finance Berhad ("AMFB") in 1981 as an accountant. In 1989, he was seconded by Bank Negara Malaysia to First Malaysia Finance Berhad as the Chief Executive Officer in a rescue scheme for the finance company. In January 1991, he rejoined AMFB and was promoted to Managing Director on 1 August 1994, a position he held until 14 June 2002 to assume the office of Managing Director, Retail Banking in AmBank (M) Berhad.Datuk Azmi was the Deputy Group Chief Executive Officer of AMMB Holdings Berhad from April 2012 to January 2017.

Ztd3088

想投资RCE要赶快喔！三个季度已经大赚了17.56仙，马上就公布第四季度业绩了，预估全年应该有23仙净利，所以股价合理价格应该是2.30令吉左右，今天跳涨是公司成长所至！

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2017	31 Mar 2016	31 Mar 2017	31 Mar 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	57,254	44,302	223,331	162,386
2	Profit/(loss) before tax	28,855	11,101	101,490	54,183
3	Profit/(loss) for the period	21,245	6,916	78,949	39,571
4	Profit/(loss) attributable to ordinary equity holders of the parent	21,245	6,916	78,949	39,571
5	Basic earnings/(loss) per share (Subunit)	6.35	2.13	23.92	12.33
6	Proposed/Declared dividend per share (Subunit)	3.00	3.50	3.00	14.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.3100		0.3500

Ztd3088

业绩非常好！可是派股息太小气了，赚近24仙才给3仙，比银行存款利率都低几倍，投资者只能伤心割爱出售喽！

Type	Announcement
Subject	OTHERS
Description	RCE CAPITAL BERHAD ("RCE")- FINAL DIVIDEND
The Board of Directors of RCE is pleased to propose a final single-tier dividend of 3.0 sen per ordinary share in respect of the financial year ended 31 March 2017, subject to the approval of the shareholders at the forthcoming Sixty-Third Annual General Meeting of RCE. The entitlement date and date of payment in respect of the aforesaid final dividend will be determined and announced in due course. This announcement is dated 26 May 2017.

Ztd3088

Ztd3088

本来想这么好业绩、应该有10仙以上的股息收入，谁知道才3仙历史新低的股息。股息太少了，严重打击投资者的信心，业绩虽好，股价仍然抵挡不了节节走低！

icy97

RCE CAPITAL BERHAD

EX-date	05 Sep 2017
Entitlement date	07 Sep 2017
Entitlement time	05:00 PM
Entitlement subject	Final Dividend
Entitlement description	Final Single-Tier Dividend of 3 sen per ordinary share
Period of interest payment	to
Financial Year End	31 Mar 2017
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	TRICOR INVESTOR & ISSUING HOUSE SERVICES SDN BHDUnit 32-01, Level 32, Tower AVertical Business Suite, Avenue 3, Bangsar SouthNo. 8, Jalan Kerinchi59200 Kuala LumpurTel: 03-2783 9299
Payment date	20 Sep 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	07 Sep 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.03

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2017	30 Jun 2016	30 Jun 2017	30 Jun 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	57,102	51,935	57,102	51,935
2	Profit/(loss) before tax	27,382	23,430	27,382	23,430
3	Profit/(loss) for the period	20,928	17,528	20,928	17,528
4	Profit/(loss) attributable to ordinary equity holders of the parent	20,928	17,528	20,928	17,528
5	Basic earnings/(loss) per share (Subunit)	6.18	5.40	6.18	5.40
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.3700		1.3100

Ztd3088

本人认为：公司年赚24仙、才派息3仙，远远落后于其它的金融股，难怪股价跌跌不休啊！金融股，应该派息50%才合理，能够照顾股东回酬的管理者才能带领公司继续前进！

Ztd3088

公司今天下午6点多有发广告了，请问各位有人知道是什么消息呢？

Type	Announcement
Subject	WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description	RCE CAPITAL BERHAD ("RCE" OR "THE COMPANY")- COMMENCEMENT OF MEMBERS' VOLUNTARY WINDING-UP OF RCE ADVANCE SDN BHD
RCE wishes to announce that its indirect wholly-owned subsidiary, RCE Advance Sdn Bhd ("RCEA") on 6 November 2017 commenced members' voluntary winding-up pursuant to Section 439(1)(b) of the Companies Act 2016 ("Winding-Up"). Ms. Oon Hooi Khee was appointed as liquidator for the Winding-Up. RCEA was incorporated on 1 June 2005 as the special purpose vehicle to acquire a pool of eligible receivables from its immediate holding company and to issue private debt securities to fund the purchase of such receivables. The private debt securities issued by RCEA had been fully redeemed. RCEA is currently dormant. The Winding-Up will not have any material effect on the earnings, net assets and gearing of RCE Group for the financial year ending 31 March 2018 and will not have any effect on the issued share capital and substantial shareholders' shareholdings of RCE. None of the directors and major shareholders of RCE or any person connected to them has any interest, direct or indirect, in the Winding-Up. This announcement is dated 6 November 2017.

Ztd3088

RCE资本次季派息3仙
2017年11月10日
http://www.enanyang.my/news/20171110/rce资本次季派息3仙/

（吉隆坡9日讯）RCE资本（RCECAP，9296，主板金融股）截至9月30日次季，净利按年增长18.55%，且宣布派发每股3仙中期单层股息。

该公司次季净赚2181万5000令吉或每股6.4仙，上财年同季净利达1840万2000令吉或每股5.62仙，主要是因为净利息收入增加和营运开销减少。

利息收入增加，带动营业额从5616万令吉，按年攀升9.62%至6156万5000令吉。消费者融资业务的贷款持续增长及资产素质稳定，有助于扶持营业额增幅。

半年赚4274万

合计上半年，净利按年上扬18.96%至4274万3000令吉，或每股12.58仙；营业额则起9.78%至1亿1867万令吉。

公司派发每股3仙中期单层股息，将在明年1月15日除权。



好消息：又有3仙股息拿了！

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2017	30 Sep 2016	30 Sep 2017	30 Sep 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	61,565	56,160	118,667	108,095
2	Profit/(loss) before tax	29,931	25,503	57,313	48,933
3	Profit/(loss) for the period	21,815	18,402	42,743	35,930
4	Profit/(loss) attributable to ordinary equity holders of the parent	21,815	18,402	42,743	35,930
5	Basic earnings/(loss) per share (Subunit)	6.40	5.62	12.58	11.02
6	Proposed/Declared dividend per share (Subunit)	3.00	0.00	3.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.4100		1.3100

icy97

EX-date	15 Jan 2018
Entitlement date	17 Jan 2018
Entitlement time	05:00 PM
Entitlement subject	Interim Dividend
Entitlement description	Interim Single-Tier Dividend of 3 sen per ordinary share
Period of interest payment	to
Financial Year End	31 Mar 2018
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	TRICOR INVESTOR & ISSUING HOUSE SERVICES SDN BHDUnit 32-01, Level 32, Tower AVertical Business Suite, Avenue 3, Bangsar SouthNo. 8, Jalan Kerinchi59200 Kuala LumpurTel: 03-2783 9299
Payment date	30 Jan 2018
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	17 Jan 2018
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.03