Highlights
KLSE: RCECAP (9296)       RCE CAPITAL BHD MAIN : Finance
Last Price Today's Change   Day's Range   Trading Volume
1.50   +0.01 (0.67%)  1.48 - 1.52  206,800
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Price Target

Date Open Price Target Price Upside/Downside Price Call Source
13/02/2020 1.69 1.95 +0.26 (15.38%) BUY Rakuten
29/10/2019 1.55 1.95 +0.40 (25.81%) BUY Rakuten

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  7 people like this.
 
Harry Mak 12 Nov 2019 Disposed 16,948,000 CLEAR GOAL SDN BHD Disposed 16,948,000 AMCORP GROUP BERHAD Disposed 16,948,000 CEMPAKA EMPAYAR SDN BHD big boses washing hand, still can invest this counter?
18/11/2019 5:31 PM
Choivo Capital Foolsgold,

You need to know what you're buying, and if you don't know that well, it needs to be cheap enough.

That means at minimum you need to know the risk reward ratio very well.
19/11/2019 11:19 AM
FoolsGold Choivo Capital, as long as it works for you, that's fine
19/11/2019 10:07 PM
anicca first TP 1.75 to break...before can move further
11/12/2019 5:36 PM
ok Is there any possibility for Rcecap to diversify their personal loan business to car loan & house loan?
15/12/2019 5:28 PM
VSLSB @ok
Referring to the post :
https://klse.i3investor.com/m/blog/LouisYapInvestment/2019-11-18-story237167-Malaysia_Stock_Analysis_Report_RCECAP_9296.jsp

I don't think RCECAP will venture outside personal loans to gov servant. In terms of loan recovery, it is easier for RCECAP to loan gov servants as they have salary deduction scheme where monies as automatically transferred to pay back loans.
21/12/2019 12:08 AM
ok Isn't it that Car and housing loan can also be serviced under salary deduction scheme as long as the income is sufficient to cover the expenses?
21/12/2019 1:29 PM
ok And they still able to get the house/car as collateral
21/12/2019 1:30 PM
VSLSB @ok

Good question. Should post it to RCECAP's management the next AGM.

But i think thsy are reluctant to venture into car/home loans as both these items are considered big ticket items which may necessitate RCECAP to loan more money which usually means margin compression similarly to what is currently happening in AEONCR.
03/01/2020 11:57 PM
Sohai Trader KUALA LUMPUR (Jan 10): RHB Investment Bank Bhd Research has initiated coverage on RCE Capital Bhd at RM1.67 with a “Buy’ rating and target price of RM2.10.

In a note today, the research house said RCE Capital primarily engages in providing general financing services to civil servants.

“We forecast net earnings to grow 8.7% and 5.5% in FY20-21 (March) on a healthy expansion in receivables.

“Better borrower profiles should improve asset quality, although receivables growth may moderate.

“The current 0.8x FY21F P/BV against >15% ROE is at an unjustified discount to that of peers,” it said.
10/01/2020 10:26 AM
hoby is otb murder here in Rcecap?
17/01/2020 11:06 PM
Samtuckfatt Any impact on non bank financial lender like elk desa, RCE and Reit?

*Malaysia Unexpectedly Cuts Policy Rate in ‘Pre-Emptive Measure’*
2020-01-22 15:01

(Bloomberg) -- Malaysia’s central bank cut its benchmark interest rate in a surprise move Wednesday, the first in Southeast Asia to do so this year as it seeks to support its economy amid lingering global uncertainty.

Bank Negara Malaysia reduced the overnight policy rate to *2.75%, a 25 basis-point cut* predicted by just two of the 26 economists surveyed by Bloomberg. The rest forecast no change. The central bank is moving to bolster confidence in Malaysia’s economy since it began showing signs of strain from the global slowdown last year. The bank cut the statutory reserve ratio requirement in November as growth weakened in the third quarter.

The adjustment to the policy rate “is a pre-emptive measure to secure the improving growth trajectory amid price stability,” the central bank said in an emailed statement.

Key Insights


* Malaysia’s economy is showing signs of picking up after a lackluster year confronting external risks. December’s manufacturing PMI signaled an expansion in factory output for the first time in 15 months. Industrial production grew at a five-month high of 2% in November from a year ago

* While the recent signing of a U.S.-China trade deal may not impact Malaysia’s exports immediately, there are signs of improvement. Shipments fell for the fourth consecutive month in November, but exports to the U.S. continued to rise and shipments to China rebounded

* The central bank cut rates once last year by 25 basis points, less than the easing carried out by many of its Southeast Asian peers. In November, it unexpectedly lowered the required reserve
ratio for banks to help improve liquidity

* Moody’s on Monday reaffirmed its A3 rating for Malaysia, citing a large, diversified and competitive economy, strong medium-term growth prospects and ample natural resources

* Inflation was 0.7% in 2019, below the official forecast of 0.9%, as transport costs fell due to a blanket subsidy for petrol. The government is forecasting 2% inflation this year
22/01/2020 6:13 PM
Adamztrade Earnings keep increasing, loan portfolio keepz growing, dividendz up, PE so low < 10 ... why market keep ignoring gem like RCECAP?
29/01/2020 7:41 PM
GLNT Collect collect collect!
14/02/2020 4:02 PM
ramada 8.88 sen.
https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=9296
18/02/2020 6:06 PM
ok extremely excellent results.
18/02/2020 6:13 PM
Sohai Trader result banyak cantik o....... terbaikkkk
18/02/2020 6:20 PM
Choivo Capital This company is doing so well, im almost scared tbh. I rebought a small position the other day.

Its interesting that despite doing more business, their allowance actually fell a little. That is honestly a little odd.

Given the current accounting standards, you have more leeway to determine your allowance amounts as management. I won't place too much weight on their profit figures until the auditors finish their audit in Q4.

It appears from this result, rcecap and aeoncr are projecting completely different things when it comes to economic outlook.

The auditors may ask them to be more pessimistic in projecting their economic outlook and ask them to take up additional allowances.
18/02/2020 6:23 PM
shareinvestor88 SELL TP 50C
18/02/2020 7:19 PM
PotentialGhost Profit keep growing , but price cannot rise due to this pukimak ph gov problem , they make until investment environment sentiment very bad and worst .
18/02/2020 7:23 PM
gladiator Dividend to 6 sens
18/02/2020 11:45 PM
DTZW 1882 thanks Rcecap~~ really best counter ever~~
18/02/2020 11:57 PM
ahkiang ok hoot ~ all in again
19/02/2020 9:54 AM
Gidstock Choivo, the allowance for impairment loss on receivables actually increases 21% as compared to revenue increase of 8%. This allowance is acceptable as their lending is mainly to civil workers and repayment is done through salary deduction. Mbsb and Aeoncr might be their closest peer but there is still difference in the business nature between those companies.
19/02/2020 10:34 AM
Sohai Trader Keep BUY with a higher MYR2.20 TP from MYR2.10, 30% upside with 6%
yield. RCE Capital’s 9MFY20 (Mar) net earnings beat estimates. Resilient
receivable growth, lower funding costs, and well-contained credit costs were
the main drivers. Valuation remains attractive, as the stock is currently trading
at a mere 0.8x FY21F P/BV. Our revised TP values RCE at a GGM-derived
FY21F P/BV of 1.07x against a projected FY20-22F average ROE of 16%.
 9MFY20 beat. RCE raked in MYR82.2m in PATAMI for 9MFY20, which
accounted for 79% and 83% of our and Street’s estimates. YTD PIOP grew 9%
YoY, mainly lifted by robust topline growth, with NII and non-II growing 11%
and 6%. Opex grew 13% YoY, but the overall CIR ratio remained well
controlled at 23.1% (+6ppts YoY). Net earnings expanded faster YoY at 14.6%,
thanks to 15% lower impairment charges. Credit cost improved to 112bps from
139bps over a year ago. Asset quality remained healthy, with both NPL and
GIL ratios down 15bps and 26bps QoQ.
 3QFY20 PATAMI jumped 23% YoY (+14% QoQ). Overall business operations
remained solid. NII grew 4.7% QoQ, buoyed by a 17bps expansion in NIM,
based on our estimates. Lower cost of funds – from a sukuk issuance –
contributed to the sequential improvement in margins, while the lending rate
was steady QoQ. CIR improved c.260bps QoQ to 20.3% on lower staff costs
and other expenses. Consequently, PIOP grew 7.6% QoQ. Impairment
charges fell 18% QoQ – a testament to RCE’s prudent underwriting policies
and consistent recovery. Quarterly annualised credit costs further improved to
104bps from 128bps in 2QFY20. ROE stood a high 19.5% in 3QFY20
(9MFY20: 18.1%).
 Receivables growth resilient. Gross receivables expanded 5% YoY (+1.6%
QoQ) to MYR1.8bn. RCE looks set to achieve its mid-single digit growth target
for FY20. Management has not seen any slowdown in lending activities despite
the softening macroeconomic environment. Applications remain robust, with no
signs of a meaningful slowdown.
 Earnings and TP. We tweaked our FY20-21F earnings by c.4% for FY20-21F
to account for slightly higher other income. Our TP is revised on the positive
earnings revision. We value RCE at a GGM-derived FY21F P/BV of 1.07x
against a projected FY20-22F average ROE of 16%.
 The downside risks to our recommendation include higher credit costs, and
weaker net financing margins and growth in receivables.
19/02/2020 11:17 AM
Choivo Capital I don't think so, where do you see it? thanks.

===
Gidstock Choivo, the allowance for impairment loss on receivables actually increases 21% as compared to revenue increase of 8%. This allowance is acceptable as their lending is mainly to civil workers and repayment is done through salary deduction. Mbsb and Aeoncr might be their closest peer but there is still difference in the business nature between those companies.
19/02/2020 10:34 AM
19/02/2020 3:20 PM
Gidstock https://klse.i3investor.com/servlets/staticfile/379965.jsp from the quarter report. Allowance for impairment loss is 4.7mil this year as compared to 3.9mil last year. Revenue is 65mil as compared to 60mil last year.
19/02/2020 4:20 PM
Gidstock https://www.theedgemarkets.com/article/rhb-research-raises-target-price-rce-capital-rm220?fbclid=IwAR32u5qJoiltwniTCcE5cKtTcywl1Qfk2PRMWu5JgGkxYB46DVIX8_21k0k

RHB TP 2.2
19/02/2020 4:44 PM
tanhuat my tp is 3.00
19/02/2020 8:37 PM
hoby is the murderer called otb in this counter?
19/02/2020 11:07 PM
tanhuat he is not interested in this counter,don't worry
20/02/2020 9:28 PM
Patrick13 Bought at 1.73
24/02/2020 11:30 AM
GLNT This is a no brainer stock. Please selldown and keep price low for me to accumulate. Thanks!!!
25/02/2020 10:09 PM
tradeview feel free to collect on weakness for the strong results, good DY and continuous delivery Quarter after quarter. We like it and will continue to hold it until the market realises its potential. Many have said RCE Cap share price will not go up because it has large debts. Please be reminded that RCE Cap is a finance company, raising debts to disburse loan - its the core business. Just as how a bank operates. With a low IR environment, their cost of borrowing is higher. As long NPL is not high, they will do fine. (Please note that RCE gives loan to civil servants and the debt is an auto deduction method).
26/02/2020 8:50 PM
Bullbursa NTA 1.82
PE below 7
Dividend above 5%
Any reason not to buy?
27/02/2020 9:42 PM
apple168 Red red markets, drag all boats down...
28/02/2020 4:15 PM
tsc516 should take this opportunity to accumulate below 1.65
01/03/2020 10:40 AM
michael_jackson yes, start to accumulate already....
02/03/2020 9:49 AM
dayang_suri outside is red, but green inside... 1.66,1.67 collected...
02/03/2020 10:35 AM
Choivo Capital wow, my additions to my position went right in at the bottom haha.
04/03/2020 1:18 PM
michael_jackson keep it up, bro....uptrend in progress....
05/03/2020 12:32 PM
malaysiakuku semua stok mata merah....kena jangkitan coronila virus.....kena tunggu masa sebelum pulih,
12/03/2020 2:12 PM
Bossku77 This is kind of price for you should be start collecting if you are searching for a long-term, steady, prospect future business, good dividend payout counter/stock... Always remember what warren has quoted to every "investor"... However, if you are a trader this shouldn't be a counter you should consider about
13/03/2020 9:21 AM
gladiator Buy and keep and receive dividend.
15/03/2020 7:47 PM
alant812 very low price with high dividend
16/03/2020 9:38 AM
dayang_suri it is going to drop and drop...all the banking and financial services sectors are affected...
19/03/2020 12:28 PM
ttluck come come rm 0.8....
19/03/2020 2:54 PM
YAPSS YAPSS Quick Summary and Free 10 Years Financial Data of RCE Capital Berhad:
https://www.yapss.com/post/rce-capital-berhad-rcecap-9296
20/03/2020 11:23 PM
malaysiakuku hebat...naik semula....tempias ekonomi, tak menggugat kestabilan nilai saham penbankan...mata sakit dah sembuh....minggu lepas langit merudum tapi minggu ini, langit cerah betul bak bidadari.
25/03/2020 9:43 AM
tradeview https://klse.i3investor.com/blogs/tradeview/2020-03-24-story-h1485614575-_Tradeview_2020_Cash_Is_King_Time_to_Deploy.jsp

Amongst our 13 stocks, RCE Capital is one of our long standing stocks. It has given us the comfort of sleeping well every night for past 12Q with an ever performing QRs. It’s a steal at current price.
26/03/2020 3:27 PM


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