KUALA LUMPUR: Financial services provider RCE Capital Bhd
is keen to tap into Credit Reference Information System (CRIS), a comprehensive borrower database maintained by Bank Negara Malaysia.
The CRIS, which can be accessed by financial institutions upon request, will enable RCE Capital to narrow down potential customers as it contains information on about nine million borrowers in the country.
RCE Capital chief executive officer Loh Kam Chuin said the company was working with the central bank to make the venture possible and believed it could secure access to the database by year-end.
"Our focus is to have more quality loans," he told reporters after the Annual General Meeting and Extraordinary General Meeting of RCE Capital here today.
Loh said despite sluggish business climate due to the flagging economy, consumer financing remained the RCE Capital's largest contributor.
"Almost 100 per cent of our revenue is from consumer financing," he said, adding that RCE Capital has allocated RM1.2 billion in loans for the current financial year from RM1 billion previously.
On possible acquisitions, Loh said the firm, which had acquired Strategi Interaksi Sdn Bhd and EXP Payment Sdn Bhd was always on the look out for potential businesses.
However, there is nothing in the pipeline for now, he said.
On its outlook, Loh said with moderation in domestic consumption, the company expected a modest growth in its loan financing segment.
"We hope to maintain or do better this year," he said.
RCE Capital reported a higher pre-tax profit of RM45.7 million for the financial year ended March 31, 2015 from RM14.2 million from FY14, while revenue rose to RM131.2 million from RM130.3 million.
For the first quarter ended June 30, 2015, its pre-tax profit rose to RM12.38 million from RM8.67 million a year ago.
Revenue jumped 23.3 per cent to RM37.49 million from RM30.41 million previously. - Bernama
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