RCECAP 9296

【如何靠网络一天赚RM0.20】

2008-01-01T13:10:00.000+08:00

AdBux -- 目前一间比较稳定的网络广告公司. 其系统最大的好处是操作简单.. 而且运作了非常透明化. 比一般的CASHFIELRY等等比较简单容易操作. 老实说.

如果就每天上次看5个广告(网站来的) 可以赚到 0.05分 USD吧了就是大概2毛钱. 不过如果有参与调查或其他的活动那么就不是那么少了. (REMARK. 看一个广告可以拿1分美元).

要赚更多.就需要找更多的下线. 就好像我在这里卖药膏一样..无非就希望可以找你们当我的下线.

至于付款方面更是简单. 因为是采用PAYPAL,所以可以说是非常安全和快速.

如果有任何疑问可以联络我. 我的MSN lkching7@msn.com

最后当然希望各位可以支持下小弟...按这里--注册ADBUX

RCECAP Tech Analytics 小散户技术分析

2007-12-09T23:05:00.000+08:00

MACD : 刚刚在下半部出现了金叉,可是股价却没有上升. 看来还是继续走横排的日子
RSI : 45 不是买入信号也不是卖出信号

举债投资未来大马7年的股市

2007-10-13T14:39:00.000+08:00

举债投资未来大马7年的股市.到底行得通吗?
以下一些网络上朋友的意见.有支持的也是反对的.

支持票:

如果你很有把握你的投资return能高过你所须付的interest. 敢敢举债。我把投资股票当成一门生易，做生易也不一定包赚，为何那么多人拿OD做生易。我拿housing loan 来投资，因为它的ineterest rate较便宜风险较低。只要你能善于利用你的贷款，它便是好债。没钱找钱很难，要善于利用你的钱来帮你赚钱。不过举债来投机则不鼓励.

其实还OK啦.只要7年开半番就可以了

借錢投資或投機都可行, 但前提是你必須知道你自己在做什麼.
而且經過一段時間證明過你真的是能做到.不然還是從小玩起比較好.我也有興趣知道那里可以借到很便宜的錢, 但我不會去借, 因為我的功力還不夠.我想, 應該是margin account是最適合的吧.

精英买股票,多多钱都不够.唯一途径就是贷款.有把握就贷款吧!我赞成!如果没有把握,千万别贷款买股票!
要懂得股市操作与定律原则,要会懂得如何保本.要有规律前进与后退的策略.要有全职的时间来看盘.
股票=高风险,高回酬. 股票=天堂,地狱.

创世纪里有一集说到叶荣添卖空期指，他买港市会跌,不够钱也和他的审审借了六亿港元全卖空期指，最后港股市真的大跌，连本带利赚了十二亿。假如你真的看准就去马,我支持你。做人一定要有希望，什么都可以不要但信心和希望不能不要。其实你不需问别人你的意见，只要你觉得你的选择是对的就去做，我觉得你这次比较不够冷静和镇定，冷静点想想做点功课。

举债是正常的,只要做好风险管理

这也是一种投资的方法.如果真的可以以钱滚钱的投资，为何不可以呢？做生意都是一样，有信心赚回来，看到未来的生意市场潜能高，如果真的借债来扩张，都是一种尝试。一间上市公司都是通过大家的钱做生意，他们不是更怕吗？要明白不是钱控制我们，我们控制钱！只是看个人的[操作方式，自我控制，投资观念，耐心]程度在哪而已！只要你知道明白了解30k这个数目的价值所在，之前都有过对钱控制的经验，对钱的控制风险
例如：如果你没有做过工实在赚钱，花的是别人给你的，你不懂钱是什么来的
例子：用爸妈的钱no felling , 花自己辛苦赚的钱有点心痛！

反对票:

我不很赞成举债投资股票哩... 毕竟风险不低.投资须量力而为, 不好太过激进. 手上有现金还是很重要的, 以备不时之需

股市永远都在，不要心急！股票是给我们至富的地方，结对不是发财的场所！

一直以来，我都劝朋友要投资只能用多余的钱来投资，别用吃饭钱来投资。2m7C/?(Q4?$n9`0^&q
为什么呢？因为如果用多余的钱来投资，就算投资失败，你也不用为明天那餐烦恼。不过，如果你用吃饭钱来投资，如果失败了，你就必须要为明天烦恼了。这样你就无法很心平气和的分析，你会觉得压力很大。因为每个决定都会引向你接下来的生活。最后只能对你说，三思而后行。你现在的决定，将会决定你以后的生活。运气好，你可以分到一块蛋糕，可是如果不好呢？你可能要花好几年来还债，在花好几年来存钱来投资（如果那时你还想投资）。值得吗？

股票没有包赚。。。个人认为。。。不要借钱买股票。。。万一有什么冬瓜豆腐。。。。会赔了夫人又折兵

不可以这样做。。。。。技术在好，也不能这样做,会这样想的人，一定想要一步登天的投机者,若此次赚到甜头，下一次一定借更多,绝对不鼓励.一步一步来，牛气还很长，掌握好技术，股市上下都能赚,先把知识提升，赚钱是迟早的事.一步一步来

小弟我也不赞成借钱买股票，我记得大大曾经说过，买股票要用闲钱来买，千万不要把吃饭钱丢下去，没人可以预知明天发生什么事，如果发生了突发事件，资金被套牢，那将会两头不到岸，所以小弟坚持反对借钱买股票

各银行PERSONAL LOAN资料

2007-10-13T13:59:00.000+08:00

Hong Leong Personal Loan:
Earn a minimal annual income of RM24,000 per annum

RHB Personal Loan:

You are qualified to apply if YOU are a Malaysian citizen between
21 and 65 years of age.
Only those who are earning an income of above RM18,000 per annum can apply.
Interest is at 12.0% p.a.
Processing fee is RM100.00

商业模式备受看好 RCE资本仍可买进

2007-10-09T15:06:00.000+08:00

商业模式备受看好　RCE资本仍可买进
二零零七年十月九日晚上七时十八分

（吉隆坡9日讯）亚欧美投资银行已继续看好RCE资本有限公司（RCECAP）的独特商业模式，即提供贷款予公务员，并透过全面性扣除月薪方式偿还款项。

有鉴于此，它已维持买进RCE资本的建议，同时目标价将保持在1.33令吉不变。与此同时，RCE资本也将从公务员的较高消费能力中受惠，进而推动短期贷款和收益成长。

该投资银行指出，其目标价也已包含了RCE资本在大马第一信托（AMFIRST，5120，主板实业投资信托）持股（3500万单位）的现有市值。以92.5仙为基准，RCE资本于大马第一信托的投资总值3240万吉。

08财政年将是RCE资本另一个里程碑，截至2007年8月杪的收款总额比07年3月杪（07财政年）的8亿5900万令吉增加至少16%，至稍超越10亿令吉水平。

亚欧美投资银行表示，这意味着约39%的强劲常年成长率。公务员薪金从2007年7月1日起调升（7.5至35%），已对RCE资本的贷款记录产生正面影响。RCE资本今年迄今的贷款成长非常符合亚欧美投资银行的预测，即在08财政年本金贷款将扬升30%。不过，RCE资本还没有如报导所称，提呈标书收购马建屋有限公司（MBSB，1171，主板金融组）。

管理层相信，注入马建屋后，RCE资本将会以倍数增长，成为国内最大非规格化金融机构。亚欧美投资银行认为，收购马建屋也将产生良好商业利益，因马建屋是一家‘豁免金融公司’（不属国家银行范围内），而且可从事任何金融相关业务。与此同时，马建屋也是一家存款机构，这是RCE资本未涉足的领域。

该投资银行的忧虑依然是价格问题，因马建屋在2006年杪拥有高达25%的呆帐，管理层已展开一项精密审核，以求达到一个合理献购价。

股市的黑暗

2007-10-08T22:37:00.000+08:00

这几天要到新加坡公干.所以接下来几天都不能关注RCECAP走势.不过我相信这这天RCECAP将有动作了.毕竟收购MBSB的股份消息就要出了.手上持有RCECAP的股友们别轻易放弃.

最近看了篇蛮不错的文章.讲述股市背后的黑暗.谢谢大家捧场. :) 希望大家有所启发.

散户时代的结束，一个巨大阴谋的实现最近看了很多文章和帖子，骂人的较多，理性的很少，我很少发言，都在仔细的看着每篇文章和帖子，但不是机构的宣传就是散户的咒骂，根本没有对现在的股市做个客观的分析，所以我还是忍不住要说几句话了。
近期沪市大盘到了恐怖的5000多点，很多散户都在仰望着这个似乎在云端的高峰，不知道是去冲锋陷阵还是撤退回家，其实我们都逐渐进入了一个天大的阴谋，
似乎忘记了一个股票市场大家都知道的法则—弱肉强食。
首先先看看我们深陷的仿佛在创造着个人财富的股票市场，在这个股票市场，就是一个强者主导的市场，综观历年的股市沉沉浮浮，最后都是“庄家”战胜了“ 散户”，
一次次验证了市场经济下的一个规律和法则，现在我们不看以前，就看看现在的股市，谈下我一些个人的观点：
我将自2006年下半年至今或是以后分为四个阶段：
一、庄家时代：2006年中—200 7年3月左右
二、散户时代：2007年3月左右—2007年5月底
三、混乱时代：2007年6月— 2007年7月；
四、庄家时代：2007年7月至今
下面我分别对各个阶段情况做个分析：
一、庄家时代：2006年中—200 7年3月左右
其实自2006年下半年开始启动的股市行情，就是机构发动的一波行情，但机构错误估计了当前我国的形势和散户的力量，也错误的估计了当前我国人民手里剩余资金的总量，更没有想到群众参与股市的热情。所以到了2000多点，庄家开始多数获利了结出局，代表着庄家时代的暂时结束。
二、散户时代：2007年 3月左右—2007年5月底
这时群众的力量却开始发挥了出来，以一种任何机构都没有想到的力量爆发了出来，庄家出局了，筹码却由力量比机构还要大的散户接了下来，
并继续推动了股市向更高的点位进军，而且很快站上了3000点、4000点，机构慌了，因为失去了对股票市场的主动权，于是各种关于股市泡沫的言论不断出来，甚至 Z 也站出来说话了，但散户却对当前股市快速的赚钱效应兴趣高涨，根本不听任何人的所谓好心的规劝，大盘还是继续涨着，于是机构慌了，也彻底绝望了，因为股市这样涨下去，他们根本赚不到钱了，这是一个比什么都严重的问题，他们请出了股市真正的老板— 。Z 不好直接干预股市，于是不停的劝散户，可惜散户已经被疯狂的赚钱效应冲昏了，甚至忘记了Z 的存在，这是Z 所不能容忍的，于是机构和Z 的想法终于趋向一致了，就对股市进行打压，既维护Z 的权威，也保护了机构的利益，于是股市真正的老板出手了—提高印花税。其实这个利空不足以给股市毁灭性的打击，但散户永远是浮躁的，是心不齐的，
而庄家采取了残酷的打压政策，抛售股票，散户动摇了，退缩了，跟着庄家抛售的人越来越多，于是大盘在5月 30日终于轰然倒下，一个散户英雄的时代结束了。
三、混乱时代：2007年6月—2007年7月；
大盘倒下了，在这个混乱的阶段，很多散户受了很深的伤，处于一个迷茫和混乱的局面，很多人出局了，不知道股市的方向，但庄家是清醒的，他们不停的打压吃货，并运用宣传工具倡导价值投资，慢慢掌握了市场的主动权，
散户被机构控制住了， Z也满意了，
剩下的事就是拉升了，一个混乱的局面慢慢得到控制，进入了又一个庄家的时代。
四、庄家时代：2007年7 月至今
在庄家彻底掌握了局面，吸够了筹码后，新的拉升开始了，但这次拉升是于以往不同的，机构、基金、庄家都在拉升自己掌握的股票，而对散户手里持有的其他股票根本不理，于是出现了一个奇特的现象，股市指数天天涨，指标股、蓝酬股等机构重仓股天天涨，就是散户看好的低价股不涨，市场仿佛验证了机构的说法，价值投资，

于是散户卖了手里的股票，买了基金，把钱交给了机构，买了基金重仓股，庄家阴谋得到了初步实现，市场完全掌握在了机构手里，于是大盘就成了机构的手中玩物，想涨就涨，想跌就跌，散户彻底放弃了抵抗。
看完这几个阶段，你就明白了为什么现在股市是这个样子了，所以现在大盘涨于不涨不再是散户所决定的了，也就决定了现在要看庄家什么时候想结束这次行情了，如果庄家想到700 0点结束，也是完全可能的。
所以现在散户就剩下了两个选择，空仓看着别人赚钱，或是跟着庄家抬轿子，其实庄家的阴谋还没有结束，因为他们要赚钱就要把手里的筹码卖给散户，才能实现利润，所以现在股票专家们不停的开始劝散户们买高价股，机构重仓股，而高价股和机构重仓股也很配合的出现了赚钱效应，一个几乎完美的阴谋就要实现了，就等散户们忍不住进来了，而等散户们全部进来的时候，就是行情结束的时候。
我不是危言耸听，现在已经接近阴谋的尾声，什么时候结束就要看散户们什么时候来接机构手里的高价筹码了。
以上是我对当前股市的一些个人看法，如果有人不信是正常的，因为都信就麻烦了，庄家怎么出货？股市怎么结束？但我也但愿有些人信，不要跳进机构的圈套，为别人的豪华晚餐来买单。所以怎么选择你自己决定好了。毕竟钱是你自己的，或是你真的比机构聪明，那就恭喜你发财了。
如果你觉得这篇文章还有点道理，就请您转发此文给更多的人，让更多的人看到，让更多的人减少损失，但我知道机构不会推荐的，因为我说到了他们的痛处。

每周一股短线操作 - 3天不赚钱坚持卖掉

2007-10-04T23:00:00.000+08:00

推荐买进RCECAP. 指数参考上面有关RCECAP的帖子.

MBSB 否认被RCE收购消息

2007-09-27T18:21:00.000+08:00

1. ARTICLE ENTITLED: “RCE leads bid for MBSB” by The Star on 25 September 2007
2. ARTICLE ENTITLED: “RCE interested in MBSB stake” by New Straits Times
3. ARTICLE ENTITLED: “RCE minat kuasai 54% kepentingan MBSB” by Utusan Malaysia
4. ARTICLE ENTITLED: “RCE keen on EPF stake in MBSB” by The Star on 26
5. ARTICLE ENTITLED: “RCE Capital minat beli 54 peratus kepentingan MBSB” by
Berita Harian on 26 September 2007

We refer to the above articles appearing in the following newspapers:-

i. The Star, page B1 and B5, Star Biz Section on Tuesday, 25 September 2007;
ii. New Straits Times, page 37, Business Times Section on Wednesday, 26 September 2007;
iii. Utusan Malaysia, page 20, Economy Section on Wednesday, 26 September 2007;
iv. The Star, page B3, Star Biz Section on Wednesday, 26 September 2007; and
v. Berita Harian, page 21, Economy Section on Wednesday, 26 September 2007.

Malaysia Building Society Berhad (“MBSB” or “the Company”) wishes to inform Bursa Malaysia that based on information available to us and to the best of our

knowledge, we confirm that the Company has no information relating to the
reported articles.

This announcement is dated 27 September 2007.

越南新联营金融

2007-09-27T00:36:00.000+08:00

RCE资本（RCECAP，9296）并计划投资570万美元（约1960万令吉）作为越南新联营金融公司的缴足资本，并计划在年杪前申请该国金融公司执照，为进军该国金融领域铺路。

RCE资本董事苏金维在签约仪式后表示，根据越南条例，在该国成立金融公司的最低资本为1900万美元（约6535万令吉），而该公司与越南南方银行已在日前签署谅解备忘录，以成立一家联营公司。

他指出，该公司将持有联营公司30%股权，南方银行则持有11%，其余股权将由策略伙伴持有，但目前还未确定对象。

“越南消费者市场发展潜能庞大，但金融公司数量不多，因此现在为进军该国的好时机，而我们将专注私人与公共领域客户。”

他也透露，该公司今年的贷款业务预计可取得介于20%至30%增长。

RCE资本旗下独资子公司RCE行销私人有限公司周二（25日）为发行总值15亿令吉的资产担保证券（ABS）与各方签署合作协议，并借之进军债务资本市场，同时提高该公司的放贷能力及扩展消费者融资业务。

大马投资银行及兴业投资银行被委任为此证券的联合管理商，而特别用途工具（SPV）Tresor资产有限公司将负责发行工作。 Tresor资产将在未来5年半内分数个阶段发行上述证券，而每项证券的届满期为最长10年。

苏金维透露，首批总值1亿令吉的证券预计在两个星期内发行，而兴业投资银行也为此证券提供总值1亿令吉的仓库便利。

RCE leads bid for MBSB

2007-09-25T14:23:00.000+08:00

PETALING JAYA:A decision on the sale of Malaysia Building Society Bhd (MBSB) by the Employees Provident Fund (EPF) is imminent, following a second round of bidding, sources said.

EPF, whichowns 54% of MBSB, held a second bidding exercise that closed last Friday. Bank Rakyat, a front runner in the first round, dropped out ofthe second round of bidding, sources said.

Two bids were received by EPF in the second round and these are believed to have come from RCE Capital Bhd and Kuwait Finance House (M)Bhd (KFH).
Bids for EPF's stake in MBSB were first formally received last month from Bank Rakyat and RCE, but they offered a price of up to only RM860mil, or two times MBSB's net asset value (NAV).

That was not acceptable to EPF, which then called for a second round of bidding, with an indicative minimum priceof 2.2 times book. Bank Rakyat balked at EPF's reserve price and stayed out, but KFH joined the bidding process this time, the sources said.

Between the bids of RCE and KFH, the former was believed to have submitted a higher offer but still fell short of EPF's target of 2.4 times book, the sources added.

MBSB had a total book value of RM430mil as at end-June, and 2.4 timesbook would translate to a price of RM1.03bil for the whole company.

A company with deposit-taking and lending activities, MBSB's capital structure is a bit complex. In addition to its 353 million ordinary shares, it has RM165mil of redeemable convertible preference sharesthat are convertible into 330 million new MBSB shares. When all the preference shares are converted, MBSB's issued base would enlarge to 675 million shares.

With a book value of RM430mil and 675 million shares, the NAV per shareis only 64 sen. A price of two times book would therefore be RM1.28 ashare.

However, it is believed that the price structure would treat the preference shares as not converted, and priced at RM2 a share. That would cost a bidder a total of RM330mil.

EPF is looking for a price of about RM2 per ordinary share, which would cost a total of about RM700mil. Together, the price would be RM1.03bil,or 2.4 times its book value of RM430mil.

As the bidders offered up to only 2.2 times book, there is a price gap between this and EPF's target. The two bidders are thus expected to be called for negotiations. EPF need not accept the higher of the two bid sat this time as the bidding is not binding on the fund.

It is not clear as to the reason why Bank Rakyat did not participate inthe second round of bidding. One reason could be that as a government-linked company, it tends to be more cautious than a company driven by an entrepreneur. The highly-profitable Bank Rakyat can be restructured to go for a direct listing but it was believed to have astrategic interest to absorb MBSB and deny the latter's deposit-taking activities to RCE.

Both MBSB and RCE are competitors of Bank Rakyat in making collateral-free loans to civil servants. Bank Rakyat was earlier expected to be an aggressive bidder as it is large, having made a net profit of RM561mil last year, and an even higher profit this year.

RCE also has a strong reason to bid for MBSB as the former lacks alicence deposit-taking base. MBSB is a deposit-taking company, exempted from compliance with the Banking and Financial Institutions Act. Thus, it reports to the Finance Ministry, not Bank Negara.

There is therefore reason for RCE to offer a price for MBSB, not only for its NAV, but also its deposit-taking business. “MBSB can open branches anywhere without seeking approval from Bank Negara,” thesources noted.

RCE, controlled by executive chairman Tan Sri Azman Hashim, signs today for an issue of asset-backed securities (ABS) to raise RM1.5bil cash.While this would lower its funding cost relative to borrowing from themoney market, its cost of funds would be lowered further if it has adeposit-taking base.

The reason for KFH's interest in MBSB is not clear as the former has anIslamic banking licence in Malaysia. Its interest may be in MBSB'sretail branch network.

KUALA LUMPUR, Sept 25 -- Financing provider RCE Capital Bhd is interested to acquire the 54 percent stake in Malaysia Building Society Bhd (MBSB) held by the Employees Provident Fund (EPF).

Its executive chairman Tan Sri Azman Hashim said the company had expressed interest but yet to put up an official bid for the stake in MBSB.

"No response also yet," he told reporters on the sidelines of a signing ceremony between AmInvestment Bank Bhd and RHB Investment Bank Bhd for the issuance of asset-backed securities to raise RM1.5 billion by RCE Capital's 100 percent owned subsidiary RCE Marketing Sdn Bhd.

His comment was in response to a news report which said that EPF had formally received a bid from RCE Capital last month, offering up to RM860 million, or two times MBSB's net asset value (NAV), for the stake.

MBSB has a total book value of RM430 million as at end-June this year.

Azman also said that matters were at a "very preliminary" stage to determine whether to acquire a partial stake or the entire 54 percent stake.

Asked why RCE Capital was interested in MBSB, he said: "For us it makes some sense because we are in the financing business and MBSB is also a finance house. If we want to expand, this will be one way to do it."

Asked what would be the next step for RCE Capital in the acquisition bid, Azman said: "We will see what the response is like."

On whether RCE Capital would team up with Kuwait Finance House (M) Bhd for the bid, he said: "At the moment we are on our own. It is not a joint bid."

RCE资本（RCECAP，9296）执行主席丹斯里阿兹曼哈欣今日（周二，25日）证实该公司将独自竞标马屋业（MBSB，1171）股权，但确实股权数还未确定。

他直接否认会与科威特金融机构（KFH）联手竞标传言。而科威特金融机构否认对马屋业有兴趣。

科威特金融机构董事经理沙尔曼回覆《彭博社》询问时说∶“这是不正确的，其实我们对马屋业的股权没有兴趣。”

阿兹曼哈欣在RCE资本旗下子公司RCE行销私人有限公司签约仪式后说，RCE资本已经向马屋业表示兴趣，但至今还未获得任何回应。

他说∶“我们涉及金融业务，而马屋业也是一家金融公司，因此收购活动符合公司业务发展。如果我们要进行扩展活动，并购将是其中一项策略。”

他指出，该公司计划独自竞标马屋业股权，但一切还处於初步阶段，并未正式进行竞标举动或确定股权数额。

根据报导指出，RCE资本与科威特金融机构已联合提呈策划书，共同竞标公积金局（EPF）所持有的马屋业的股权，但消息来源不详。

消息指出，公积金局计划以10亿3000万令吉脱售所持的马屋业54%股权，较后者截至6月底的4亿3000万令吉账面值高出2.4倍。然而，RCE资本与科威特金融机构所提呈的竞标价格低於公积金局脱售价格。

分析员∶业务模式相近
收购相辅相成

分析员对RCE资本有意收购马屋业的消息感到意外，但认为双方所涉及的业务格式相近，因此可带来相辅相成效果。

马屋业主要涉及发放房屋贷款及提供零售融资便利，而RCE资本则提供个人贷款予公务员。

亚欧美研究说，公积金局持有马屋业62.41%股权，同时持有后者可赎回可转换优先股（RCPS）的84.85%。该批优先股的转换比率为1优先股配2马兴业新普通股，届满期为2008年8月22日。

在该批优先股转换完成后，马兴业缴足资本将由3亿3820万股增至6亿6820万股，公积金局所持股权也会增至73.4%。

因此，成功标得上述股权的单位将献购公积金局未持有的其馀股权，而根据2.4倍股价对账面值计算，总收购成本约10亿令吉。

然而，分析员指出，以马屋业截至2006年12月的25%净呆帐率及50亿9000万令吉净贷款额，上述价格属於偏高水平。

另外，尽管该公司截至去年12月的账面值只有4亿1000万令吉，但净呆账总额却高达12亿6000万令吉。但相关净呆账额已从2003年12月的54%降至现有水平。

马屋业并非金融公司，因此不受国家银行管辖，并能进行任何金融相关业务（受财政部监督）。基於该公司为一家可接收存款的机构，并可以透过较低利率融资，因此RCE资本可藉这项便利扩大公司规模。

假设RCE资本以2.4倍股价对账面值收购马屋业全部股权，RCE资本的净贷款总额将由4亿1500万令吉增至55亿100万令吉；账面值由1亿6200万令吉提高至11亿4600万令吉；核心净利则由4600万令吉增至8600万令吉。

亚欧美研究给予RCE资本“买入”评级，但将视最新进展作出调整。相信竞标结果有望於两个星期内揭晓。

RCE Capital to take stake in finance company

2007-09-16T12:33:00.000+08:00

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)).

OUTCOME OF THE FIFTY THIRD ANNUAL GENERAL MEETING

2007-09-13T23:00:00.000+08:00

THE FIFTY THIRD ANNUAL GENERAL MEETING

RCE CAPITAL BERHAD
- OUTCOME OF THE FIFTY THIRD ANNUAL GENERAL MEETING ("53rd AGM")
The Board of Directors of RCE Capital Berhad ("the Company") is pleased to
announce that at the 53rd AGM of the Company held today, 13 September 2007, the

shareholders of the Company have approved all the ordinary and special
businesses as set out in the Notice convening the 53rd AGM issued on 22 August
2007.

MOU BETWEEN RCE CAPITAL BERHAD AND SOUTHERN BANK VIETNAM

2007-09-12T18:41:00.000+08:00

MEMORANDUM OF UNDERSTANDING BETWEEN RCE CAPITAL BERHAD ("RCE") AND SOUTHERN BANK VIETNAM ("SBV")

The Board of Directors of RCE wishes to announce that the Company had on 11 September 2007, entered into a Memorandum of Understanding (“MOU”) with SBV to form a joint venture company (“JVCo”) to apply for licences to establish a Finance Company in Vietnam (“FinCo”). The FinCo is a non-bank credit institution regulated by the State Bank of Vietnam.

RCE shall take up an equity stake of up to 30% in the JVCo with SBV at 11%, being the maximum permissible holdings under the Vietnamese regulations. Both RCE and SBV shall further negotiate and arrive at mutually acceptable commercial terms and seek strategic partners to take up the balance equity stakes in the JVCo. The MOU provides for the parties to enter into definitive agreements after due diligence to be conducted by RCE.

SBV was established 14 years ago and is the second largest joint stock commercial bank in Vietnam with 73 branches and transaction offices. SBV provides a wide range of financial services to small and medium enterprises, exporters and importers, as well as personal banking services to individuals. The Bank was voted “Famous Brand” by consumers in Vietnam in 2006.

The collaboration with SBV would allow RCE to explore opportunities to expand its capabilities in financial services in Vietnam. None of the Directors, substantial shareholders of RCE and/or any person connected with them have any interest, direct or indirect, in the MOU.

This announcement is dated 11 September 2007.

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(吉隆坡訊）RCE資本（RCECAP，9296）與南方銀行越南簽署諒解備忘錄，以為設立一間聯營公司在越南申請金融公司執照鋪路。

該公司發表文告指出，該公司將持有聯營公司的30%股權，而南方銀行越南則持有11%股權，這是越南條件下外資可持有的最高股額。它們將尋求策略伙伴，以持有其余股權。

上述金融公司為非銀行信貸機構，主要業務包括借貸、投資、金融或貨幣諮詢及其他服務。

1.5b ASSET-BACKED SECURITIES

2007-09-11T18:15:00.000+08:00

PROPOSED ISSUE OF UP TO RM1.5 BILLION ASSET-BACKED SECURITIES (THE
"PROGRAMME") BY TRESOR ASSETS BERHAD BACKED BY LOAN RECEIVABLES ORIGINATED BY RCE MARKETING SDN BHD

1. INTRODUCTION
The Board of Directors (“Board”) of RCE Capital wishes to announce that the Securities Commission (the “SC”), vide its letter dated 4 September 2007 which was received on 5 September 2007, had approved the abovementioned Programme to be issued by Tresor Assets Berhad (“Tresor” or the “Issuer”).

The Programme is secured by tranches of Loan Receivables originated by RCE Marketing Sdn Bhd (the “Originator/RCEM”), a wholly-owned subsidiary company of RCE Enterprise Sdn Bhd (“RCEEnt”), which in turn is a wholly-owned subsidiary company of RCE Capital.

2. DETAILS OF THE PROGRAMME
Tresor is a trust-owned special purpose vehicle incorporated solely for the Programme.

The Programme involves the issuance of asset-backed securities (“ABS”) in various tranches comprising senior and subordinated ABS in aggregate of up to RM1.5 billion. The Programme is available for issue within a period of 5.5 years from the date the conditions precedent for the Programme are met.

Each tranche of the ABS will consist of multiple series of senior and subordinated ABS with different maturity period and issue size, which will be determined at a later date prior to the relevant issue date. The maximum legal maturity period of the senior ABS is up to ten (10) years from the relevant issue date. The senior ABS is rated by RAM Rating Services Berhad with an
indicative rating of AAA while the subordinated ABS will not be rated and will be issued to RCEM and/or its wholly-owned subsidiary company.

Coupon rates of the ABS will be determined prior to the issuance of each tranche. Coupon payment for the senior ABS shall be on a semi-annual basis with the first payment to be made six (6) months from the issue date.

The ABS would be backed by loan receivables meeting certain eligibility criteria which will be sold to Tresor by RCEM in batches with expected aggregate principal amount of RM100.0 million. The sale will be effected under a two-tiered sale structure whereby RCEM shall first purchase these Loan Receivables from various co-operatives before selling them to Tresor. The Loan Receivables are primarily granted to public sector employees with repayments being met by non-discretionary monthly salary deductions at source.

In connection with the Programme, RCEM has been granted a Revolving Credit Facility (“RCF”) by RHB Investment Bank Berhad (“RHBIB”) to originate and/or acquire the Loan Receivables to reach an economically meaningful amount before they are sold to Tresor.

3. RATIONALE OF THE PROGRAMME
The proceeds raised from the Programme shall be utilised by the Originator/RCEM for repayments under the RCF and also for its working capital purposes.

4. EFFECTS OF THE PROGRAMME
4.1 Share Capital and Substantial Shareholders
The Programme will not have any effect on the share capital and shareholdings of the substantial shareholders of RCE Capital.
4.2 Net Assets (“NA”) and Earnings per share.
The Programme is not expected to have any material effect on the NA and earnings per share of RCE Capital group of companies (“RCE Group”). However, the Programme is expected to increase the capital funds of the Originator/RCEM for future business growth. As such, the Programme is expected to contribute positively to the earnings of RCE Group in future years.
4.3 Dividends
The Progamme is not expected to have any material impact on the dividend policy of RCE Capital.
4.4 Gearing
The gearing of RCE Group will increase from 3.0 times to 4.2 times assuming two (2) tranches of ABS were to be issued as at 31 March 2007.

5. CONDITIONS OF THE PROGRAMME
The approval obtained from the SC for the Programme is subject to certain terms and conditions including those imposed on the Originator/RCEM.

6. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS
Save as disclosed in Section 8 below, none of the Directors and major shareholders of RCE Capital or person connected to the Directors and/or major shareholders of RCE Capital, has any interest, either directly or indirectly,in the proposed Programme.

7. DIRECTORS’ RECOMMENDATION
The Board of Directors of the Company, having considered the rationale as indicated above as well as the terms and conditions of the Programme, is of the opinion that the acceptance of the Programme is beneficial to RCE Group.

8. ORIGINATOR, SERVICER, TRANSACTION ADMINISTRATOR AND HOLDER OF THE
SUBORDINATED ABS; AND JOINT PRINCIPAL ADVISER/JOINT LEAD ARRANGER/JOINT LEAD
MANAGER AND FACILITY AGENTRCEM is the Originator of the Loan Receivables forming the underlying assets for the ABS and has also been appointed to act as the Servicer and the Transaction Administrator. It and/or its wholly-owned subsidiary company will also subscribe to 100% of the subordinated ABS. AmInvestment Bank Berhad (formerly known as AmMerchant Bank Berhad), a company related to RCE Capital by virtue of Tan Sri Dato’ Azman Hashim’s deemed interest (direct and/or indirect) in both companies, is one of the Joint Principal Advisers/Joint Lead Arrangers/Joint Lead Managers and also the Facility Agent, whereas RHBIB is the other Joint Principal Advisers/Joint Lead Arrangers/Joint Lead Managers of the Programme.

This announcement is dated 6 September 2007.

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RCE資本
15億資產抵押債券獲准

(吉隆坡6日訊)RCE資本（RCECAP，9296，主板貿易）獲證券監督委員會（SC）批准，發行高達15億令吉的資產抵押債券。
RCE資本向馬證交所報備指出，上述債券由特別用途工具（SPV）Tresor資產發行，獨資子公司RCE行銷(RCE Marketing)發出的應收貸款，將做為抵押資產。債券所籌款項，將用以償還興業投資銀行提供的周轉信貸，以及做為營運資本。

Fundamentals

2007-09-10T18:56:00.000+08:00

RCE CAPITAL BERHAD

STATUS : ACTIVE

COUNTRY

Malaysia

SIC CODE

HOUSEHOLD APPLIANCE STORES (5722)

7TH FLOOR, WISMA TAN KIM SAN, NO 518A, 3RD MILE, JALAN IPOH, KUALA LUMPUR

Tel: (60) 3 4042 8788

Fax: (60) 3 4042 8877

PROFILE BRIEF

RCE Capital Berhad (RCE) principal activities are investment holding and provision of anagement services.

DIRECTORS/ADVISORS

COB AZMAN HASHIM

AUDITOR DELOITTE KASSIMCHAN


Fiscal Year	3/31/2005	3/31/2006	3/31/2007
ISO Currency	MYR ('000)	MYR ('000)	MYR ('000)
Report Type	C	C	C

INCOME STATEMENT
Net Turnover/Net Sales	44,596	57,478	98,671
EBITDA	19,036	26,562	83,043
EBIT	18,516	26,241	103,042
Net Profit	14,888	19,791	63,371
Ordinary Dividend	0	0	-4,783

BALANCE SHEET
Intangibles	19,002	28,344	28,677
Fixed Assets	10,079	3,116	3,493
Long Term Investments	29,199	330,028	400,526
Stocks/Inventories	0	0	0
Cash	18,752	7,433	167,982
Current Liabilities	22,782	36,694	69,991
Long Term Debt	72,500	272,686	456,324
Provisions	0	0	0
Minorities	3,134	0	0
Total Shareholders Equity	58,367	92,942	161,736

KEY RATIOS
Operating Margin	43.64	47.02	104.43
Return on Equity Capital	28.96	26.16	49.77
Net Profit Margin	33.38	34.43	64.22
Current Ratio	1.54	0.94	3.54
Debt to Capital at Book	0.51	0.72	0.71

Recent Change of Share Holdings Announcements

2007-09-09T19:01:00.000+08:00

Announcement Date	Date of Change	Shrs Acquired/ (Disposed)	Director/Substantial Shareholder	Shrs Held After Change
24-Aug-07	20-Aug-07	(2,000,000) 707,500	Goldman Sachs International	47,837,500
17-Aug-07	15-Aug-07	(3,370,000)	Goldman Sachs International	49,130,000
14-Aug-07	07-Aug-07	(1,500,000)	Goldman Sachs International	52,500,000
04-Jul-07	19-Mar-07	12,800,000	Cempaka Empayar Sdn Bhd	267,959,573
31-May-07	25-May-07	1,800,000	Goldman Sachs International	54,000,000

Recent Capital Change

2007-09-08T19:04:00.000+08:00

Recent Capital Change Announcements - RCECAP

Announce Date	Effective Date	New Shares	Reason
11-Oct-06	13-Oct-06	21,100,000	Private placement of 21,100,000 new ordinary shares of RM0.10 each in at an issue price of RM0.271 per share
28-Mar-06	30-Mar-06	67,415,730	Additional Listing Pursuant to the Acquisition
05-Dec-03	10-Dec-03	21,476,250	BONUS ISSUE OF 21,476,250 NEW ORDINARY SHARES OF RM1.00 EACH IN ON THE BASIS OF TWENTY THREE (23) BONUS SHARES FOR EVERY TWENTY (20) EXISTING ORDINARY SHARES HELD

Background of RCE Capital Berhad

2007-08-14T14:32:00.000+08:00

RCE Capital Berhad was incorporated in Malaysia under the name of Leong Tian Tin Mines Ltd on the 18 December 1953.

The Company's name was changed from Leong Tian Tin Mines Ltd to Rislee Enterprise Sdn Bhd on 7 December 1978 and subsequently to Rediffusion Berhad on 25 September 1993. The Company was listed on the Second Board of Bursa Securities on 20 September 1994. RCE Capital adopted its present name on the 9 October 2003. Subsequently, on the 23 August 2006, RCE Capital was listed on the Main Board of Bursa Securities. The Company is an associate company of AmcorpGroup Berhad (formerly known as Arab-Malaysian Corporation Berhad).

As an investment holding company, RCE Capital's subsidiaries were previously involved in media, advertising and broadcasting businesses. Its subsidiaries are now principally involved in financial services and property investment following the acquisition of 87.5% stake in RCE Marketing Sdn Bhd (RCEM) and the sale of its entire broadcasting business in 2003 and the disposal of its media and advertising business in 2004. RCEM is an indirect subsidiary of RCE Capital and following the acquisition of the balance 12.5% stake on 30 March 2006, it became a wholly-owned indirect subsidiary of RCE Capital. RCE Capital previously held 42% stake in AmFIRST Real Estate Investment Trust (AmREIT). Pursuant to restructuring and rebranding exercise and the units disposal exercise, RCE Capital currently holds 8.2% stake in AmREIT.

RCE Capital's present authorised share capital is RM200,000,000 comprising 2,000,000,000 ordinary shares of RM0.10 each of which RM64,633,764 comprising 646,337,640 ordinary shares of RM0.10 each have been issued and fully paid-up.