【RCECAP 9296 交流专区】RCE资本

小散户

MJ...LINK呢? RCE恢复了...

mjchua

原帖由 小散户 于 14-9-2007 11:47 AM 发表
MJ...LINK呢? RCE恢复了...

8. To consider and if thought fit, to pass the following ordinary resolution, with or without modifications:
Proposed Purchase by the Company of Its Own Shares of Up To 10% of Its Issued and Paid-Up Share Capital
“THAT subject to the Companies Act, 1965 (“Act”), rules, regulations and orders made pursuant to the Act, provisions of the Company’s Memorandum and Articles of Association, Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) and any other relevant authorities, approval be and is hereby given to the Company to purchase ordinary shares of RM0.10 each in the Company as may be determined by the Directors of the Company from time to time through Bursa Securities upon such terms and conditions as the Directors of the Company may in their absolute discretion deem fit and expedient in the interest of the Company (“Share Buy-Back Mandate”) provided that:
(a) the aggregate number of ordinary shares of RM0.10 each in the Company which may be purchased and/or held by the Company at any point of time pursuant to the Share Buy-Back Mandate shall not exceed ten per cent (10%) of the issued and paid-up share capital of the Company for the time being;
(b) the amount of funds to be allocated by the Company pursuant to the Share Buy-Back Mandate shall not exceed the retained profits and share premium of the Company based on the Company’s latest management accounts at that point in time;
(c) the authority conferred by this resolution will commence immediately upon passing of this ordinary resolution and will continue to be in force until:
(i) the conclusion of the next Annual General Meeting (“AGM”) of the Company, at which time it will lapse, unless by a resolution passed at the AGM, the authority is renewed;
(ii) the expiration of the period within which the next AGM of the Company is required to be held pursuant to Section 143(1) of the Companies Act, 1965 (“Act”) (but shall not extend to such extension as may be allowed pursuant to Section 143(2) of the Act); or
(iii) revoked or varied by resolution passed by the shareholders of the Company in general meeting,
whichever is the earlier; and
(d) the shares so purchased by the Company pursuant to the Share Buy-Back Mandate to be retained as treasury shares which may be distributed as dividends and/or resold on Bursa Securities and/or cancelled.
AND THAT the Directors of the Company be and are hereby authorised to take all such steps as they may consider expedient or necessary to implement and give effect to the Share Buy-Back Mandate.”

mjchua

原帖由 mjchua 于 14-9-2007 12:04 PM 发表


8. To consider and if thought fit, to pass the following ordinary resolution, with or without modifications:
Proposed Purchase by the Company of Its Own Shares of Up To 10% of Its Issued and ...

Share Buyback 是最後一招了...

小散户

原帖由 mjchua 于 14-9-2007 12:05 PM 发表


Share Buyback 是最後一招了...

BUYBACK通常都是超低价收回吧?

Mr.Business

报纸似乎没有RCE的AGM的消息, CARI网友似乎也没人有去她的AGM，哈。

小散户

原帖由 Mr.Business 于 14-9-2007 12:20 PM 发表
报纸似乎没有RCE的AGM的消息, CARI网友似乎也没人有去她的AGM，哈。

不知道通过MAYBANK买的可以进去参与没有.

mjchua

原帖由 小散户 于 14-9-2007 12:08 PM 发表


BUYBACK通常都是超低价收回吧?

看看 Resort 就知道... 強啊..

mjchua

原帖由 小散户 于 14-9-2007 12:35 PM 发表


不知道通过MAYBANK买的可以进去参与没有.

不知道... 不過 AGM 是昨天...

Mr.Business

你代表Maybank Nominee就能进去了，哈。。。开玩笑的。

RCE的越南venture没有进一步的资料了。。。

PS: CIMB去泰国发展了。


CIMB shortlisted for Thai bank

Updated : 14-09-2007
Media : The Star

KUALA LUMPUR: CIMB Investment Bank Bhd and Industrial and Commercial Bank of China Ltd (ICBC) have been shortlisted to buy a 20% stake in Thailand's ACL Bank.

The two, which were among seven bidders, are vying to buy a 19.26% stake in ACL from Bangkok Bank Pcl.

¡§We would like to inform that we have registered our interest with the relevant parties on the possibility of acquiring the existing shares held by Bangkok Bank in ACL, on terms and conditions to be agreed,¡¦¡¦ CIMB Investment Bank said in a statement to Bursa Malaysia yesterday.

A Reuters report, quoting a Thai Finance Ministry official, said Bualuang Securities, an adviser for the deal, was to meet Finance Minister Chalongpob Sussangkarn to discuss the sale of shares in Thailand's smallest lender by Bangkok Bank.

¡§Bualuang has told the Finance Ministry that two banks, Malaysian bank CIMB and Chinese bank ICBC, are interested in acquiring stakes in ACL from shareholder Bangkok Bank,¡¨ said the official, who asked not to be identified.

Bangkok Bank has said it expects to sell its 19.26% stake in ACL by year's end to comply with central bank regulations, which do not allow Thai banks to hold stakes of more than 10% in other firms in the sector.

The Finance Ministry, which owns a majority 30.6% stake in ACL, would have to approve purchases by ICBC and CIMB as they would exceed a foreign shareholding holding limit of 5% in the Thai bank, the official added.

ICBC is the world's largest lender by market value and CIMB Investment Bank is the vehicle being used for the acquisition by the CIMB Group.

ACL has a market capitalisation of 9.5 billion baht, net assets of 41.1 billion baht and gross loans of 29.8 billion baht. ACL, which has 12 branches throughout Thailand, has shareholders' funds of 11.9 billion baht.

¡§At the moment, (the stake purchase) is to get a foothold in Thailand's commercial banking business,'' a source said.

A decision on the winning bid for ACL is expected in a matter of weeks. The move to enter Thailand's commercial banking business, he said, was in part due to the CIMB Group's thriving stockbroking business in that country and also its desire to expand regionally.

CIMB's direct exposure to Thailand is now through CIMB-GK Securities (Thailand) Ltd.

The CIMB-GK operations in Thailand have been growing and the unit aimed to emerge as one of the 10 largest brokers in the country.

The Thai unit provides securities broking, dealing, underwriting and corporate advisory services.

¡§The Thai experience has been good. CIMB-GK Thailand has secured several mandates and the expansion into Thailand fits the group's intention of accelerating its expansion into the region,'' the source said.

The CIMB Group has declared its intention to expand its commercial banking reach regionally. It currently has a fast growing and profitable banking business in Indonesia through PT Bank Niaga.

The group has investment banking business in many countries in Asia and developed markets after acquiring GK Goh Holdings in 2005.

http://www.biznewsdb.com/english ... ulan=09&kw=wwqq

[ 本帖最后由 Mr.Business 于 14-9-2007 12:44 PM 编辑 ]

shuhjiunho

原帖由 mjchua 于 14-9-2007 12:05 PM 发表


Share Buyback 是最後一招了...

这个Resolution，如果你有多看Annual Report，10间公司，8-9间都会有这个Resolution。
这个只是让Management有这样的权利进行Share buy-back，不代表公司一定要这样做。

小散户

原帖由 shuhjiunho 于 14-9-2007 12:52 PM 发表


这个Resolution，如果你有多看Annual Report，10间公司，8-9间都会有这个Resolution。
这个只是让Management有这样的权利进行Share buy-back，不代表公司一定要这样做。

原来如此...

mjchua

原帖由 shuhjiunho 于 14-9-2007 12:52 PM 发表


这个Resolution，如果你有多看Annual Report，10间公司，8-9间都会有这个Resolution。
这个只是让Management有这样的权利进行Share buy-back，不代表公司一定要这样做。

我知道... 只不過 RCE 與其來個 share buy back 不如直接把錢借出去更好囉...

shuhjiunho

原帖由 mjchua 于 14-9-2007 01:55 PM 发表


我知道... 只不過 RCE 與其來個 share buy back 不如直接把錢借出去更好囉...

哦？此话怎么说？

mjchua

原帖由 shuhjiunho 于 14-9-2007 02:00 PM 发表


哦？此话怎么说？

share buy back... 可以把 share cancel 掉... 進而提昇 EPS
不進行 share buy back... 把錢借給公務員... 收利息... 也是可以提昇 EPS

Mr.Business

好消息。

Malaysia's 2008 Retail Sales May Grow 8%, Group Says

Updated : 14-09-2007
Media : Bloomberg
Story By : Stephanie Phang

Sept. 14 (Bloomberg) -- Sales at Aeon Co. (M) Bhd., Isetan of Japan Sdn. and other retailers in Malaysia may increase 8 percent in 2008, helped by government measures to put more money in the hands of consumers.

Retail sales may rise to 69.4 billion ringgit ($20 billion) from 64.2 billion ringgit this year, said Tan Hai Hsin, managing director of the Kuala Lumpur-based Retail Group Malaysia. Retail Group provides forecasts and conducts quarterly retail sales surveys for the 100-member Malaysian Retailers Association.

Malaysia's Prime Minister Abdullah Ahmad Badawi scrapped school fees, gave out free textbooks and allowed workers to tap retirement funds for monthly mortgage payments in his budget proposal for 2008 last week. He's relying on higher domestic spending to push growth in the $147 billion economy to as much as 6.5 percent next year amid concerns a U.S. housing loan crisis will curb exports.

``The budget reduces consumers' financial burden, thus allowing them to have more pocket money,'' said Tan. ``This will help to sustain the spending power next year.''

Efforts to boost tourist arrivals will also help retailers, he said. Malaysia is extending an advertising campaign targeting international visitors, the government said last week.

Retail sales increased 8.4 percent to 59.5 billion ringgit last year, the quickest since 2001. Retail Group reiterated its earlier forecast that sales will expand 8 percent this year.

http://www.biznewsdb.com/english ... ulan=09&kw=wwqq

XXXXX

坏消息。

No Bonus: Civil Servants More Cautious With Their Spending

Updated : 14-09-2007
Media : Bernama

KUALA LUMPUR, Sept 14 (Bernama) -- With no bonus this year, civil servants will have to tighten their belts and be more cautious with their spending, especially for the coming Aidilfitri celebration.

A public employee, Shajaratudduur Hussin, 41, said there would be less money to spend for Raya.

"I have to cut down on the family's Raya expenses. For example, instead of buying Raya cookies like I normally do, I'll have to make my own, " she told Bernama here Friday.

As for Nurul Hakimah Jamaludin, 21, who is with the Police Training Centre (Pulapol), and Mohd Zaimee Abd Rashid, 24, of Kuala Lumpur City Hall (DBKL), the celebration for their respective families will not be so grand this time.

"I've been hoping for the bonus to give extra money to my parents to spend for the coming Aidilfitri celebration," said Mohd Zaimee.

A senior officer at the Information Ministry, Resat Salleh, 50, said the no bonus payment had forced him to cut down on his expenses, like taking the family for shopping, travelling and eating out.

"I have to be prudent by spending less on unnecessary things. For example, if previously we spent RM300, now it has to be reduced to RM250," said the father of four school-going children.

He said that regardless of whether the civil servants are low- or high-income earners, the impact of not getting the bonus would be felt by all, especially those with families and school-going children.

"Although the government has abolished the school fees, parents still have to pay the school Parent-Teacher Association (PTA) fees, buy workbooks for their children and also school unifiorms," he added.

A Seremban Municipal Council worker, B. Maniarasu, 40, who has five school-going children, said it would lighten his burden if there was a bonus.

"My salary is hardly enough to make ends meet. If there is a bonus payment, it will lighten my burden," he added.

However, Mariam Musa, 46, a clerical staff at a government department, said although there would be no bonus this year, the civil servants had been given a pay rise, for which "we should all be thankful to the government".

"So there is some extra money to spend on the children's new Raya clothing and their school needs when the new term begins next year," she added.

Meanwhile, some traders are also feeling the pinch, with the expected drop in sales.

Aminah Suprapto, 23, a salesgirl at a child boutique, said sales had been slow compared with previous years when parents had begun shopping for their children's clothing even before the fasting month.

A marketing manager of a shopping centre here, Rosma Tajuddin, 28, said, however that it was still too early to say whether the bonus factor would have any impact on the traders' income for the Raya sales since the fasting month had only started.

"Normally, people will start shopping for Hari Raya about two weeks before the celebration," she added.

http://www.biznewsdb.com/english/newspage/newspage.asp?ID=7091446&file1=7&bulan=09&kw=wwqq

edison7

The Star Saturday September 15, 2007

RCE Capital to take stake in finance company

By HARI RAJ

RCE Capital Bhd is back in the headlines this week following its intentions to set up a finance company in the burgeoning Vietnam market. In an announcement to Bursa Malaysia earlier this week, RCE said that it had entered into a memorandum of understanding (MoU) with Southern Bank Vietnam (SBV) to set up a joint venture company (JVC).  

The JVC will then apply for licences to set up a finance company in Vietnam, which will be a non-bank credit institution regulated by the State Bank of Vietnam. RCE plans to hold up to 30% of the JVC's equity, while SBV will hold 11%, the maximum allowed by Vietnamese regulations.

According to the announcement, RCE and SBV will continue negotiations and seek strategic partners for the remainder of the JVC's equity, and the MoU provides for the parties to “enter into definitive agreements after due diligence to be conducted by RCE”.  

In a note following the announcement, Aseambankers points out that there are no indications on the eventual investment value by RCE, noting that the MoU is for the JV company to apply for a finance company licence and it may still take additional time for the operations of a finance company to take off.

Vietnam is one of the world’s fastest growing economies.

In addition, the research house says RCE's eventual equity stake in the prospective finance company remains unknown at this point in time. Nevertheless, Aseambankers is positive on RCE's venture into Vietnam, for a number of reasons, including the fact that Vietnam is one of the world's fastest growing economies.  

“Its average GDP growth was 7.1% per annum in 2000 to 2004, 8.4% in 2005, 8.17% in 2006 and 2007's official target is around 8.5%. Vietnam also has a fair sized population of approximately 84 million people, and a per capita income of around US$3,300, with the spending power of its population having risen noticeably in recent years,” says the research house.  

Vietnam's appeal  

By all accounts, Vietnam has been ripe for potential investment for some time now. The country was admitted to the World Trade Organisation this January and is widely regarded as being one of the most promising nations in terms of investment outlook and future growth.

Likewise, analysts feel that SBV is a reliable partner for RCE in the Vietnamese market. Since its establishment 14 years ago, it has become the second largest joint stock commercial bank in Vietnam with 73 branches and transaction offices, and is listed on the Vietnam stock exchange.  

Promisingly, SBV's key strengths seem to dovetail with RCE's. Besides providing financial services to small and medium enterprises, importers and exporters, SBV also provides personal banking to individuals, which is also regarded as one of RCE's key strengths. Singapore-based United Overseas Bank also sounded a vote of confidence in SBV earlier this year with the purchase of a 10% stake in January.

RCE has also been busy on the domestic front, announcing last week that the Securities Commission had approved its proposed of asset-backed securities (ABS) to raise RM1.5bil. The ABS are to be released in tranches with a maximum maturity period of up to ten years from the issue date.  

The senior ABS has received an indicative rating of AAA from RAM Rating Services Bhd, while the subordinated ABS will not be rated. According to reports, the ABS will provide RCE with a platform on which to expand its loans financing business.  

According to RCE's announcement to Bursa Malaysia, the programme is not expected to have any material affect on the net assets and earnings per share of the RCE group, nor RCE's dividend policy. However, the group's gearing will increase from 3 times (x) to 4.2x assuming two tranches of ABS were to be issued on March 31, 2007.  

Results

RCE's first quarter results for the financial year ending March 2008 (FY08) came in within Standard & Poor (S&P)'s expectations, with a net profit of RM10mil representing growth of 59% year-on-year (y-o-y).  

“First quarter earnings constituted 19% of our full-year forecast for FY08. The first quarter is traditionally the slowest for RCE, and with growth in receivables continuing, we expect incremental earnings to flow in during the upcoming quarters,” says S&P.  

The rating agency notes that revenue grew 48% y-o-y to RM28mil, while encouraging factors for RCE include the expected income flow from incremental variables in coming quarters along with the recent salary hike for investors that may benefit the company's personal financing business.  

On the back of what it calls a “reasonable first quarter”, S&P is retaining its FY08 and FY09 earnings estimates at RM53.9mil and RM64.7mil respectively. With receivables at RM466mil at the end of the first quarter, the rating agency is also retaining its forecasted growth to RM521mil and RM625mil at the end of FY08 and FY09 respectively.  

Further to this, S&P is maintaining both its strong buy call on the counter along with its 12-month target price of RM1.17. It feels that earnings growth momentum is expected to remain strong, with a projected two-year compounded annual growth rate of 19%, while return on equity is expected to average 23%.  

Net gearing is projected to be 1.6x during the current financial year, but S&P says that this is typical of RCE's business, which sources funds from the money market for the expansion of its consumer financing business.  

Aseambankers' earnings forecasts for RCE are likewise unchanged, pending further information on the company's collaboration with SBV and additional details of the JV's timeline. The house is maintaining its buy call on RCE with an unchanged target price of RM1.33, which pegs the stock to a 2008 price earnings ratio of 13.5 times (including its holdings in AmFIRST Real Estate Investment Trust (REIT)).

小散户

消息连连酱出...可是还是没有人努力买进.

小散户

今天股息限期到了....股价跌回两个价位.

mjchua

原帖由 小散户 于 18-9-2007 12:17 PM 发表
今天股息限期到了....股价跌回两个价位.

真慘... 感覺有事要發生了...

小散户

原帖由 mjchua 于 18-9-2007 12:42 PM 发表

真慘... 感覺有事要發生了...

我准备钱等你跌了..