PETALING JAYA: Personal financing provider RCE Capital Bhd
plans to introduce more sales campaigns to boost disbursement and expand customer base.
The group also looks to improve its delivery channels via ongoing digitalisation initiatives.
“With Malaysia’s gross domestic product on the rising trend, consumer spending momentum is envisaged to increase, thereby potentially translating into higher demand for financing.
“The group remains prudent on the positive economic development and expects to end the financial year ending March 31, 2024 profitably,” RCE Capital said in a filing with Bursa Malaysia.
The group reported a flattish net profit in the third quarter ended Dec 31, 2023 (3Q24), after higher allowances for impairment loss on receivables, operating and profit expense had offset the increase in quarterly revenue.
RCE Capital’s net profit dropped by 1.7% year-on-year (y-o-y) to RM34.56mil as compared to RM35.18mil in 3Q23.
The latest bottom line translated into an earnings per share of 4.72 sen.
Revenue for the period rose by 7.2% y-o-y to RM87.41mil, primarily derived from higher profit and fee income. The group did not declare a dividend for the quarter.
Cumulatively, for the nine-month period ended Dec 31, 2023, net profit rose by 5.5% y-o-y to RM109.69mil, while revenue rose by 7.6% y-o-y to RM259.2mil.
The higher net profit was achieved on the back of improved revenue and other income, offset by higher operating and profit expense.
RCE Capital is majority-owned by AmBank Group’s chairman emeritus Tan Sri Azman Hashim, who owns an equity interest of slightly above 58% in the former.
