Posted by DTZW 1882 > 2020-02-18 23:57 | Report Abuse

thanks Rcecap~~ really best counter ever~~

Posted by ahkiang > 2020-02-19 09:54 | Report Abuse

ok hoot ~ all in again

Posted by Gidstock > 2020-02-19 10:34 | Report Abuse

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.

Posted by Sohai Trader > 2020-02-19 11:17 | Report Abuse

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.

Posted by Choivo Capital > 2020-02-19 15:20 | Report Abuse

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

Posted by Gidstock > 2020-02-19 16:20 | Report Abuse

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.

Posted by Gidstock > 2020-02-19 16:44 | Report Abuse

https://www.theedgemarkets.com/article/rhb-research-raises-target-price-rce-capital-rm220?fbclid=IwAR32u5qJoiltwniTCcE5cKtTcywl1Qfk2PRMWu5JgGkxYB46DVIX8_21k0k

RHB TP 2.2

Posted by tanhuat > 2020-02-19 20:37 | Report Abuse

my tp is 3.00

Posted by hoby > 2020-02-19 23:07 | Report Abuse

is the murderer called otb in this counter?

Posted by Patrick13 > 2020-02-24 11:30 | Report Abuse

Bought at 1.73

Posted by GLNT > 2020-02-25 22:09 | Report Abuse

This is a no brainer stock. Please selldown and keep price low for me to accumulate. Thanks!!!

Posted by tradeview > 2020-02-26 20:50 | Report Abuse

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).

Posted by Bullbursa > 2020-02-27 21:42 | Report Abuse

NTA 1.82
PE below 7
Dividend above 5%
Any reason not to buy?

Posted by apple168 > 2020-02-28 16:15 | Report Abuse

Red red markets, drag all boats down...

Posted by tsc516 > 2020-03-01 10:40 | Report Abuse

should take this opportunity to accumulate below 1.65

Posted by michael_jackson > 2020-03-02 09:49 | Report Abuse

yes, start to accumulate already....

Posted by dayang_suri > 2020-03-02 10:35 | Report Abuse

outside is red, but green inside... 1.66,1.67 collected...

Posted by Choivo Capital > 2020-03-04 13:18 | Report Abuse

wow, my additions to my position went right in at the bottom haha.

Posted by michael_jackson > 2020-03-05 12:32 | Report Abuse

keep it up, bro....uptrend in progress....

Posted by malaysiakuku > 2020-03-12 14:12 | Report Abuse

semua stok mata merah....kena jangkitan coronila virus.....kena tunggu masa sebelum pulih,

Posted by Bossku77 > 2020-03-13 09:21 | Report Abuse

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

Posted by gladiator > 2020-03-15 19:47 | Report Abuse

Buy and keep and receive dividend.

Posted by alant812 > 2020-03-16 09:38 | Report Abuse

very low price with high dividend

Posted by dayang_suri > 2020-03-19 12:28 | Report Abuse

it is going to drop and drop...all the banking and financial services sectors are affected...

Posted by ttluck > 2020-03-19 14:54 | Report Abuse

come come rm 0.8....

Posted by YAPSS > 2020-03-20 23:23 | Report Abuse

YAPSS Quick Summary and Free 10 Years Financial Data of RCE Capital Berhad:
https://www.yapss.com/post/rce-capital-berhad-rcecap-9296

Posted by malaysiakuku > 2020-03-25 09:43 | Report Abuse

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.

Posted by tradeview > 2020-03-26 15:27 | Report Abuse

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.

Posted by tradeview > 2020-04-25 10:39 | Report Abuse

As part of our diversification strategy, we hold RCE Cap for the dividend play strategy.

https://klse.i3investor.com/blogs/tradeview/2020-04-20-story-h1506050109-_Tradeview_2020_Principles_of_Investing_Rule_3_Diversification_is_the_B.jsp

Posted by Hahaqwe > 2020-05-05 10:21 | Report Abuse

OPR rate cut soon, this stock gonna blow our mind this year! Pe10 price RM2.85! gogogo

Posted by hehehe2 > 2020-05-05 12:47 | Report Abuse

Buy! Up trend!

Posted by jack pp > 2020-05-07 20:59 | Report Abuse

2.00 is coming ,buy call

Posted by Malatlou > 2020-05-08 09:36 | Report Abuse

https://m.facebook.com/%E8%82%A1%E7%A5%A8%E4%B9%8B%E4%B9%9D%E8%B5%A2%E7%9C%9F%E7%BB%8F-104835151213239/?tsid=0.5391718911315475&source=result

Who is this guy? Predicted quite well

Posted by Hahaqwe > 2020-05-09 11:57 | Report Abuse

Will go 2.00 next week, best QR coming. EPS will hit 35 after wards

Posted by warrantKing > 2020-05-09 13:55 | Report Abuse

Final call for RCE !!

Posted by maximus . > 2020-05-10 22:00 | Report Abuse

finally going to move to rm2 round table......

Posted by dendron > 2020-05-11 22:13 | Report Abuse

RCECAP is not regulated under Bank Negara, so shouldn't be affected by the 6 months moratorium as compared to banks which should be a good news, some more theirs are mainly personal loans, not housing loans or hire purchase. Major customers are civil servants which are generally unaffected during this Covid-19 pandemic as they are still receiving their salary and even government financial assistance. So in my opinion, RCECAP should outperform the banking stocks in the near term in terms of growth and dividend yield. Correct me if I am wrong, just sharing my thoughts.

Posted by Hahaqwe > 2020-05-12 17:06 | Report Abuse

someone is accumulating! hahaha maybe good QR coming soon, share price will go historical high! Never seen a so strong TA before in this stock. Crazy!

Posted by alan26334 > 2020-05-14 19:34 | Report Abuse

@dendron you are right, furthermore, civil servant salary is deducted first for loan repayment to rcecap before the salary reach civil servant. This is beautiful part of it.

Posted by Hahaqwe > 2020-05-15 11:43 | Report Abuse

Best qr coming soon, believe it or not

Posted by kywoo > 2020-05-15 20:45 | Report Abuse

Yes. I believe you. With better results, dividend for full year should be at least 11 sens compared to 9 sens for previous year. At closing price of 1.76, the dividend yield is about 6.25%. The PE should be less than 6 at current price. The NTA is about 1.95 and hence the price over NTA is around 90% With expected EPS of 32 sens and dividend of 11 sens, the payout ratio is only 35%. Hence a lot of earnings going back to reserves. Investing in this counter is far better than putting money in bank.

Posted by leonchew > 2020-05-21 10:09 | Report Abuse

I read the news in yesterday, the BNM might decrease again the OPR rate. I think this is the factor push the price today.

Posted by Hahaqwe > 2020-05-21 10:12 | Report Abuse

Best QR coming in!

Posted by Chenghenglee > 2020-05-22 16:55 | Report Abuse

Best QR coming in x2

Posted by dendron > 2020-05-27 21:30 | Report Abuse

http://www.bursamarketplace.com/mkt/tools/research/ch=research&pg=research&ac=1022315&bb=1040610

Sharing Maybank IB research report on RCECAP with you all here..

Posted by Chenghenglee > 2020-05-28 22:30 | Report Abuse

how come QR not out yet?

Posted by Hahaqwe > 2020-05-28 23:50 | Report Abuse

tmr

Posted by beckham89 > 2020-05-29 15:40 | Report Abuse

hopefully QR sui sui today!

Posted by Beast > 2020-05-29 18:40 | Report Abuse

tmr saturday lo, so long havant out

Posted by Jimmy_Gan > 2020-05-29 18:56 | Report Abuse

delayed to end of JUNE?