【RCECAP 9296 交流专区】RCE资本

tescopuchong

原帖由 tescopuchong 于 20-4-2008 03:43 PM 发表
如果我没有记错，当安华下台退出政坛，他的大部分朋友们作为首席执行官下台，大部分上市GLC or top 100 公司更换另一组(敦)的朋友们，
这是不足为奇的多数柜台大公司中，将指派一名新任命CEO ，以及公司业务联系， ...

Date	Open	High	Low	Close	Volume	Adj Close*
18-Apr-08	0.62	0.63	0.62	0.62	3,125,300	0.62
17-Apr-08	0.63	0.64	0.62	0.62	5,325,000	0.62
16-Apr-08	0.63	0.63	0.61	0.63	4,974,100	0.63
15-Apr-08	0.61	0.64	0.60	0.62	9,830,900	0.62
14-Apr-08	0.61	0.62	0.58	0.60	7,638,300	0.60
11-Apr-08	0.56	0.61	0.56	0.61	11,849,200	0.61
10-Apr-08	0.55	0.56	0.54	0.56	1,862,200	0.56
9-Apr-08	0.53	0.55	0.52	0.54	700,000	0.54
8-Apr-08	0.54	0.56	0.52	0.53	1,606,600	0.53
7-Apr-08	0.53	0.57	0.51	0.55	5,857,500	0.55
4-Apr-08	0.51	0.54	0.50	0.53	2,146,400	0.53
3-Apr-08	0.51	0.52	0.50	0.51	900,300	0.51
2-Apr-08	0.54	0.54	0.51	0.51	1,686,000	0.51
1-Apr-08	0.52	0.53	0.51	0.52	1,158,500	0.52

RCECAP IS COMING BACK

Mr.Business

如果你是投资RCE的，请问你喜欢RCE的生意模式吗？你认为长远来说，她的前景如何？

tescopuchong

sorry to use english to reply, what i know this company core business is lending money to government servant and deduct from their salary every month, mainly malay customers and is their culture to buy thing and pay later , they don't mind to pay more compare to market price.
if we compare last 3 years sale and p&l, is making money with growth,
we seldon see them advertise in newspapare, business still continue, no competition, what other business can compare to this...

Last Trade:	0.665 MYR
Trade Time:	4:10PM SGT
Change:	0.045 (7.26%)

[ 本帖最后由 tescopuchong 于 22-4-2008 04:13 PM 编辑 ]

tescopuchong

top 20 volumn up

tescopuchong

just update the news
23 april 2008 0.685 up again 3.79%
22 april 2008 0.66 up 6.75%
1 april 2008 0.52
2 week ago 0.495
estimate price 28th 0.80

[ 本帖最后由 tescopuchong 于 23-4-2008 09:51 AM 编辑 ]

Mr.Business

请用中文。

风起云涌

原帖由 Mr.Business 于 23-4-2008 09:53 AM 发表
请用中文。

等待你分享关于１７１３楼的看法

Mr.Business

原帖由 风起云涌 于 18-4-2008 04:32 PM 发表
以下消息已经获得确定－－以OSK为首的６只本地基金达成协议－－大量买入RCECAP－－近期内展望推高股价至RM1.50－－其中原因相信是即将在７月正式各收购计划和政府规划工程相关

问题我对大选后的局势和看淡这两年内的所有政府相关政商股－－问问各位怎么看－－始终坚信OSK是KLSE黑手指的说－－去年被他点到的三只股票包括FABER都下场不理想－－期待大家分享看法

对RCE的小股东来说，最好的发展是RCE能跟MBSB合并，前景会好些。可是RCE／MBSB／AMCORP的管理层的效率好吗?管理好吗？我有疑虑。

股价如果能到RM1.50，那就太好了。我有亲人是RM1买进的，哈。

结论：
1. 如果我已是RCE的小股东，我会等待，不会再买进；
2. 如果我不是RCE的小股东，我会观望，不会买进。

PS：个人看法。

小散户

我也收到消息..也是说会推到RM1.50 .. 要买就趁早了..别等到RM1再追.

soon_808

9296    RCECAP    RCE CAPITAL BHD  
ARTICLE ENTITLED: “RCE to provide for small CLO loss”  

RCE CAPITAL BERHAD (“RCE””)
- ARTICLE ENTITLED: “RCE to provide for small CLO loss”

We refer to the facsimile received from Bursa Malaysia Securities Berhad on 20
May 2008 in relation to above titled article appearing in The Edge Business &
Investment Weekly (19 May-25 May 2008).

RCE Group had participated in a Collateralised Loan Obligation (“CLO”)
Programme to secure a term loan of RM40 million in 2006. As a condition to the
CLO Programme, the Group was required to subscribe to RM4 million of the CLO
Programme’s subordinated bonds. We have been informed by the trustees for the
bondholders that a few of the other participants in the CLO Programme have
recently defaulted in meeting their debt obligations and as a result, the
repayment of a portion of the subordinated bonds is doubtful.

RCE Group has not defaulted on any of its obligations, including its
obligations under the CLO Programme.   The Group is taking the above under
advice to decide on any prudent measures of impairment, and where necessary,
the relevant provisions will be made under normal accounting rules and
disclosed accordingly.

The above provisions of up to a maximum of RM4 million are considered as part
of the imputed total funding cost for the term loan and will not have a
material impact on the Group’s financial position.

This announcement is dated 21 May 2008.

" CLO Programme" 什么来的？？

Mr.Business

新闻。

19 May 2008: Corporate: RCE to provide for small CLO loss
By Risen Jayaseelan

RCE Capital Bhd may make an impairment of around RM4 million in its next quarterly results, although this is something that the company had already expected, sources say.
The impairment is in relation to RCE subscribing for RM4 million worth of subordinated debt, which in turn was part of a RM40 million loan it took when it participated in a collateralised loan obligation (CLO) programme by EON Bank Bhd.
CLOs are essentially loan portfolios of a financial institution that are sold to enable the financial institution to raise more funds for lending purposes. In this case, RCE took out two RM40 million term loans, which was part of a RM1 billion CLO programme initiated by EON Bank.
EON Bank in turn packaged this RM1 billion worth of loans and sold it to a special purpose vehicle called CapOne Bhd. CapOne in turn issued bonds and other subordinated debt based on these loans. And here is how RCE is affected — as part of the deal for the two RM40 million loans it got from EON Bank, RCE was required to spend 10% of the lent amount in buying subordinated debt from CapOne.
So in essence, RCE had to spend RM8 million to invest in papers issued by CapOne.
Now it turns out that in one of the two tranches, the RM4 million spent on the subordinated papers issued by CapOne has to be provided for as some of the borrowers of the CLA programme have defaulted. RCE would not need to provide for the other RM4 million it invested in papers from CapOne as there was no default yet affecting those papers. Incidentally, there could be other borrowers who would need to provide for the default.
In RCE's case, an observer reckons that the company was already aware of the risks involved in participating in the CLA programme. "They would have wanted to make a provision for the RM8 million if they could but the accounting rules only allow them to provide for this in the event of a default; so that's what they are going to be doing now. More importantly, they had factored this amount (RM8 million) as part of the 'cost' of this loan so it is nothing surprising for them to have to provide for this amount," says a party familiar with the situation.
But due to the impairment cost, RCE's fourth quarter ended March 31, 2008, will be below expectations of some analysts.
RHB Research's report dated May 14, 2008, has put a fair value on RCE's shares at 95 sen apiece, on the assumption that the company will hit a net profit of RM56 million for FY2008. RCE managed a net profit of RM38 million for the three quarters ended Dec 31, 2007. RHB Research also pointed out that part of the reason RCE's share price has been on a downtrend since the beginning of the year was that Goldman Sachs, which held 8.3% of RCE as at last July, has been aggressively selling down its shares in RCE.
Goldman Sachs has sold almost all its shares in RCE by early April this year and, according to RHB Research, the selling had resulted in RCE's share price hitting a low of 49 sen as at March 21, 2008.
RCE's share price has since recovered to around 70 sen as at last week in heavy trading.
It is still unclear why Goldman Sachs was hiving off its RCE shares, but RHB Reseach has a theory: "We gather that the selling by Goldman Sachs was due to issues back home."
At about the same time, a new shareholder emerged in the form of Aras Kreatif Sdn Bhd, which took up a private placement of RCE shares in early April. Aras Kreatif, believed to be a bumiputera concern approved by the Ministry of International Trade and Industry, now has slightly more than 11% of RCE, making it the second largest shareholder after Tan Sri Azman Hashim, who controls RCE with about 44% of the company.
The licensed money lender has chalked up an impressive growth over the last few years by tapping the civil servant market.
RCE has also ventured into providing credit-factoring services, which refers to purchasing businesses' trade receivables at a discount. Still, competition is heating up in RCE's core consumer-lending business. Besides the easy availability of credit cards, banks have been offering hassle-free personal loans under the micro-credit tagline. Also, non-bank players, such as AEON Credit Service (M) Bhd, a subsidiary of Japanese retail giant AEON Co Ltd, are getting more aggressive.
RHB Research, however, says that the recent decision by the government to raise the mandatory retirement age of civil servants by two years to 58, is positive for RCE.
"The extension means that civil servants can now apply for higher loan amounts or for additional loans as the tenure of their loans can be extended by another two years."
The research house adds that it favours RCE as it is a niche player in the civil servants' personal financing market and it has a low default rate coupled with a growing loan book.

http://www.theedgedaily.com/cms/ ... a-18bbf550-ecb1e703

xzm

原帖由 Mr.Business 于 21-5-2008 07:20 PM 发表
新闻。

19 May 2008: Corporate: RCE to provide for small CLO loss
By Risen Jayaseelan

RCE Capital Bhd may make an impairment of around RM4 million in its next quarterly results, although this is ...

听起来好像ABS，CDO之类的。RCECAP为了取得贷款，无形中把自己卷入了次贷危机？

Mr.Business

RCE的财政年是在31/03结束的。

2006财政年，发出借款RM181.5 million；
2007财政年，发出借款RM183.0 million；
2008财政年，发出借款RM267.6 million，与去年相比增加46％。

公务员真能借这么多钱？？如果这帐最后都能收回来，那RCE的未来业绩会是不错的。还好RCE的老板是Tan Sri Azman，不然这公司的风险就太大了。。。不知收购MBSB的进展如何了，我想希望不大。。。

江湖

大哥， 你还持有咩？？？

Mr.Business

Indirect有一点 。。。所以之前有网友说会抄到RM1.50，我很希望是真的。可是我想只有RCE真得收购MBSB，RM1.50才有可能。

Mr.Business

很多人不知道MBSB的价值，哈。。。不知道RCE有牵涉在MBSB的收购案中吗？

Saturday June 21, 2008
MBSB expected to be taken private
By JAGDEV SINGH SIDHU

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) is expected to be taken private next month for shareholders to transform the company into a niche player in the financial market.

Investors from Abu Dhabi, together with the Employees Provident Fund (EPF), are expected to make a general offer of between two and three times the book value of the company that would lead to the Middle Eastern investors taking a 30% stake in the company. Control would reside with EPF.

“MBSB has been plagued with NPLs (non-performing loans) for many years and, although the EPF has turned it around, the entry of a strategic Abu Dhabi investor will certainly provide a catalyst to take MBSB to the next level of growth and development with a clean balance sheet,'' a banking source said.

The shareholders are then expected to clean up the company's balance sheet by setting up an NPL fund that would buy RM1.45bil worth of NPLs from MBSB.

The existing real estate portfolio within MBSB will be regrouped and, where possible, injected into a real estate investment trust.

“MBSB will be asset light,'' the source added.

Shareholders will then take MBSB in a new direction where it will set up a real estate fund specialising in medium-cost houses.

The fund would buy and lease the houses to prospective homeowners for a minimum period. After a number of years, tenants would be given the option to buy the houses.

“The lease-and-option-to-buy scheme is probably going to be the same cost as the current method of buying a home in Malaysia,'' the source said. “MBSB is going back to its original cause and will be using the Middle Eastern money to stimulate the medium- to low-cost housing market.''

MBSB will earn a fee by managing the fund that will start with a size of US$1bil. MBSB also has an avenue to unlock the value of its property fund.

“It's kind of having a big balance sheet in an off-balance sheet structure,'' the source said.

One avenue being explored by MBSB is to take its business to the Middle East via the help of the new Abu Dhabi investors.

http://biz.thestar.com.my/news/s ... 24&sec=business

scsiang82

通膨增长‘受惠者’　RCE资本具成长空间
二零零八年六月二十四日 晚上七时三十五分


（吉隆坡24日讯）基于09年度10倍本益比（比较银行业平均目标13倍），加上拥有大马第一实业投资信托（AMFIRST）3500万单位的现有价值，亚欧美投资银行已维持RCE资本有限公司（RCECAP）目标价于1.10令吉不变。

它表示，它将维持买进RCE资本的建议，因后者拥有强稳成长潜质，以及将是通膨增长的潜在‘受惠者’。

亚欧美投资银行指出，08财政年是RCE资本良好的一年，净盈利成长了16%。

不过，贷款成长更加显著，净贷款提高了64%，部份是拜由07年7月开始公务员薪金调高7.5至35%所赐。

这对RCE资本09财政年的收益（全年贡献）将产生正面影响。

该投资银行预测，截至08年3月为止，毛贷款（包括未获利息）已经提高逾50%至13亿令吉（07年3月只有8亿4000万令吉），而未获利息则介于5亿4000万令吉左右（07年3月：3亿4000万令吉）。

与此同时，RCE资本的贷款风险组合依然健康，净呆帐比例少于现有贷款本金3%。

汽车与柴油价格上调对RCE资本贷款成长的冲击尚未浮现，但亚欧美投资银行预测，随着通膨提高，消费者开销能力将受打击，它相信这将有利RCE资本，促进贷款成长以进行融资。

该投资银行依然保持09财政年20%净贷款成长的预测，而调整潜质呈正面。

它指出，它将不会对净呆帐的增长感到忧虑，因RCE资本的借贷人组合是政府雇员，因而贷款付款是透过政府每月薪金扣除机制缴付。

至08年5月，RCE资本的海外持股权已从07年9月的15.6%降低到8.4%，因在07年4月控制7.9%股份的高盛，已减持到2%以下。

与此同时，该投资银行已把其09和10财政年度收益预测分别下调1%和0.2%。

它预测，RCE资本未来3年的核心净盈利成长将各达到22%（09财政年）、21%（10财政年）和15%（11财政年）。

http://www.kwongwah.com.my/news/2008/06/24/98.html

chopnel

原帖由 scsiang82 于 25-6-2008 09:53 AM 发表
通膨增长‘受惠者’　RCE资本具成长空间
二零零八年六月二十四日 晚上七时三十五分


（吉隆坡24日讯）基于09年度10倍本益比（比较银行业平均目标13倍），加上拥有大马第一实业投资信托（AMFIRST）3500万单位的现 ...

看来前景似乎是不错。谢谢分享。

sunshinefood

rcecap有问题chookf前辈说的：

http://cblog.cari.com.my/html/69/218069.html

looking for rcecap

小散户

星期日的中国报有推荐买RCECAP