Friday, September 9, 2011

RCE Capital news @ 09/09/11

RCE Capital: It is focusing on strengthening its loan book after Kowaja ceased disbursing new personal loans sourced from RCE Capital to its members between Dec 2010 and June 2011. RCE provides loans to Kowaja which in turn utilizes the funds to provide personal loans to its members primarily civil servants, through an on lending arrangement. The loans are repaid to RCE via a salary deductions from the individual borrowers. Kowaja is the largest borrower of RCE.

After six month freeze, the disbursements resumed in July 2011, after Kowaja received approval from CCM to borrow from RCE but with a limit of rm200 million. The freeze did have some impact on RCE’s loan book as reflected in its loans and receivables, during that six month freeze’s period. Going forward, RCE is more concern about the new players. Any M&As will be an opportunities.

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