tag:blogger.com,1999:blog-250589152024-03-29T18:23:51.629+08:00Sharetisfy歌词Unknownnoreply@blogger.comBlogger68125tag:blogger.com,1999:blog-25058915.post-47455052701083193012024-02-25T18:36:00.001+08:002024-02-25T18:36:02.969+08:00RCECAP 9296 RCE CAPITAL BERHAD股价突然爆量下跌,是应该进场捞低,还是应该套利走人呢?RCECAP 9296 RCE CAPITAL BERHAD股价突然爆量下跌,是应该进场捞低,还是应该套利走人呢?<p> <iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="362" src="https://www.youtube.com/embed/oApBr4pPq4g" width="644"></iframe></p><br/><br/>https://www.youtube.com/watch?v=oApBr4pPq4gAdminhttp://www.blogger.com/profile/02423328634093657906noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-34589110314822543692023-08-17T20:07:00.005+08:002023-12-01T08:14:15.044+08:00RCECAP 9296 RCE CAPITAL BERHAD出最新业绩了!不是银行的金融股,股价却涨得比全部银行高?!RCECAP 9296 RCE CAPITAL BERHAD出最新业绩了!不是银行的金融股,股价却涨得比全部银行高?!<p> <iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="362" src="https://www.youtube.com/embed/p5F1WsmBLwg" width="644"></iframe></p><br/><br/>https://www.youtube.com/watch?v=p5F1WsmBLwgAdminhttp://www.blogger.com/profile/02423328634093657906noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-83943200928493629692023-05-24T19:14:00.005+08:002023-05-24T19:21:06.911+08:00 RCECAP 9296 RCE CAPITAL BERHAD 改变派息政策<p> RCECAP 9296 RCE CAPITAL BERHAD 改变派息政策<br /><br />全年而言,小耳窿的業績算是平淡的扯平,但本季不少公司表現普遍欠佳的情況下,穩定已是不錯的發揮。<br /><br />其亮眼的地方是股息相當大幅的增加了,把今年那一次性的18仙特別股息拿走不談,以及把去年第一期的股息調整了紅股的部分後,實際上股息就是從去年的每股7.5仙增加到今年的12仙或60%的加薪,十分誇張。<br /><br />公司昨晚也有出公告表明決定更改派息政策,在未來將會把盈利的60%~80%派出來當股息,所以有了這次顯眼的薪水漲幅。<br /><br />有網民質疑,公司改變政策如此大方派息,不保留更多的盈利來作為擴張的資金,是否意味著公司未來的發展有限?<br /><br />無可否認,這種疑慮確實是有其邏輯性,但轉念一想,Uchitech或啤酒公司如HEIM以及Carlsberg也是在過去十多年來大多時候都把90%以上盈利派出來的公司,雖然它們缺乏爆發力但長期的盈利表現還是有逐步攀升或穩定,所以個人認為,這只是公司從成長型變成股息型的暗示,或許因而變成不符合一些較激進的投資者口味,但這是公司變型而非變質的更動。<br /><br />所以,如何選擇就視乎你當下是一位怎樣的投資者,沒有任何一家公司可以去迎合每一個人的口味,每家公司優秀的地方不同,不好的地方也不一樣,沒有一個基準。<br /><br />像做人一樣,試著認可自己的優點,也接納自己的缺點,不妄自菲薄,也不高傲自大。學習擴大自身的優點,改進缺點並不容易,但可以讓那些不好成為自己的一部分,然後淡化它的影響。<br /><br />加油💪<br /><br />著作網購鏈接(馬來西亞):《打工族股息路》<br /><br />著作網購鏈接(新加坡):《打工族股息路》SG<br /><br />大眾書局網購鏈接 :大眾書局網購鏈接<br /><br />http://mercurychong.blogspot.com/2023/05/blog-post_23.html<br /></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-11171509800992579952022-12-06T18:57:00.006+08:002022-12-06T19:02:09.043+08:00 LCTitan和RCECAP豪迈派息<p> LCTitan和RCECAP豪迈派息<br /><br />在我和吾姐的投资组合里头,有两间公司不约而同派发非常大方的特别股息,分别就是LCTitan和RCECAP,不禁让我感到又惊又喜。毕竟当下经济不是很好,股市也欲振乏力,究竟是什么原因促使这两间公司作出这样的派息决定呢?<br /><br />先来说说LCTitan。这间公司在11月24日宣布派出每股13.98仙的特别股息,让投资者大感意外,因为LCTitan在今年首9个月的业绩都在亏钱,若按照公司设定的最低40%派息率标准,今年应该不会派息才对。然而,管理层在文告里却对企业前景相当有信心,还特别提到通过印尼新乙烯 (LINE) 项目,未来将继续扩大当地业务,并致力在2025年成为东南亚市场最大石化公司之一。<br /><br />截至9月30日,LCTitan的现金储备高达26亿6433万令吉或相等于每股1.17令吉,当中有9亿1088万令吉来自于当初公司上市筹资的资金,其余都来自生产活动产出的现金流量。因此扣掉这一次豪迈派发总额3亿1840万令吉的特别股息,LCTitan依然还有足够的内部资金来应付营运支出。<br /><br />LCTitan在业绩高峰时期(2017年)挂牌上市,然而随着行业进入下跌周期对盈利造成严重打击,导致其股价长期走低。当初以公开售价6.50令吉买进的投资人对比现在股价肯定是损失惨重。或许因为这个因素,管理层才会连续第二年决定派发特别股息来回馈股东对公司的支持。在短期之内,相信LCTitan接下来的业绩表现也不会立即好转,因此是否该为一次性的特别股息而买进股票的投资人来说须自行斟酌。<br /><br />至于RCECAP,这间公司在2023财政年次季的业绩营收和盈利破新高,因此决定派发每股23仙的股息,包括每股5仙的中期股息以及每股18仙的特别股息。有分析认为,明年起公务员即将起薪,总共惠及130万公务员,预料将为RCECAP带来更高的贷款需求。然而国家银行不断升息,RCECAP的贷款利息也会跟着走高,因此如何降低贷款成本,辅以贷款增长,才可为公司创造更坚韧的盈利增长。<br /><br />RCECAP在截至9月30日坐拥高达8亿852万令吉的现金储备,相等于总资产至28.8%。在这一次RCECAP派出总额1亿6854万令吉的股息给股东后,公司依然有足够的现金可以应付营运活动。<br /><br />与LCTitan相比,RCECAP的成长就非常稳健,最近5年的复合年均盈利增长率为9%左右,而每年派息也随着盈利有提升而增加。RCECAP的资产基础不断增强并创造更高的营收和净利,为股东带来更好的回酬和收益。值得一提的是,去年RCECAP才完成了派红股活动,今年又派出特别股息,这两三年有买进RCECAP的投资人应该赚得盆满钵满吧。<br /><br />LCTitan和RCECAP都有各自考量来决定派息,共同点就是拥有非常充裕的现金部位,股息的资金来源是从生产活动获得的现金流量而不是通过贷款取得的,这该让投资人更加宽心,在2022年结束之前就好好笑纳公司慷慨给出的丰厚股息吧。<br /><br />https://investalone.blogspot.com/2022/12/LCTitan-RCECAP-Dividend.html<br /></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-12413220016949910982022-09-09T21:35:00.006+08:002022-09-09T21:35:20.618+08:00RCECAP 9296 RCE CAPITAL BERHAD 股东大会 8-9-2022 @ E-Broadcast<span><a name='more'></a></span>RCECAP 9296 RCE CAPITAL BERHAD 股东大会 8-9-2022 @ E-Broadcast<div class="container" dir="ltr" lang="undefined" style="--line-height: 1.6em;"><div class="header reader-header reader-show-element">
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<p> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s1600/RCECAP+LOGO.png"><img class="moz-reader-block-img" data-original-height="420" data-original-width="900" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s640/RCECAP+LOGO.png" width="640" /></a></p><p>又到了一年一度的RCECAP股东大会了,今年RCECAP依然选择进行网络版的,其实对于规模不算太大的公司来说,网络版有他一定的好处,最少那个成本可以省略一大截,但是如果可能的话,实体版还是会比较好的,起码那个气氛有存在。而RCECAP虽然今年天哥已经从30大被挤出来了,但是他依然是我的主力之一,所以股东大会就必须了解了,我们直接进重点吧。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6m7DoSBg3sIVOY3yLhHj1SeMBtOWrUisHfo0unf_Qfgt4aCpJLbQUI2SiBZZMlMSzuYYYtbhmOi1caR3-NgE6pFHUSKWQaWkHRRoatAKHipILRdv5GBINlPhCmnlouVXooa4O/s1600/RCECAP+%25283%2529.jpg"><img class="moz-reader-block-img" data-original-height="1600" data-original-width="1200" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6m7DoSBg3sIVOY3yLhHj1SeMBtOWrUisHfo0unf_Qfgt4aCpJLbQUI2SiBZZMlMSzuYYYtbhmOi1caR3-NgE6pFHUSKWQaWkHRRoatAKHipILRdv5GBINlPhCmnlouVXooa4O/w300-h400/RCECAP+%25283%2529.jpg" width="300" /></a></p><p>以前的大会时在这个很舒服的俱乐部举行的,现在都改为online了,不过好处是,公司省略一些成本咯。。</p><div><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicrTAc61PWtTMwNJvp2sE0Ya5-z4u-7Xk5q-4vJlG-1vketVqk-cfOWId9PC6pFiPc6FQNfjF4x65IENVJbYOlvx49iVhtpCH0k7q93rVRgZkqsUXHr7mW0DDpKaexoh8M9peiQ6qITPa51i5hrZWXXJp-UpdKItCi3c_sfeWn7r_WskP_YMqK226e/s1920/RCECAP%20AGM%202022%20(1).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicrTAc61PWtTMwNJvp2sE0Ya5-z4u-7Xk5q-4vJlG-1vketVqk-cfOWId9PC6pFiPc6FQNfjF4x65IENVJbYOlvx49iVhtpCH0k7q93rVRgZkqsUXHr7mW0DDpKaexoh8M9peiQ6qITPa51i5hrZWXXJp-UpdKItCi3c_sfeWn7r_WskP_YMqK226e/w400-h225/RCECAP%20AGM%202022%20(1).jpg" width="400" /></a></p><p>一开始由这位非执行主席注册了会议</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIDzFzC6mlR_w1v5gk01qihjGr_s1xGe5bu7kMKOoJ_-Cq5Nv-Y_65pAOb8GixRsoTfwlunn6o8A-Sx7CIiz6A9-IvrAoe_cO7e2k5ybhxaTRzZg_lccEbMZKMHabiXOp-VUuXSlC_jEwTVaS_2fCIrB3xqj-plIKAWWizxfHCmHlrpMEjs0v623SS/s1920/RCECAP%20AGM%202022%20(2).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIDzFzC6mlR_w1v5gk01qihjGr_s1xGe5bu7kMKOoJ_-Cq5Nv-Y_65pAOb8GixRsoTfwlunn6o8A-Sx7CIiz6A9-IvrAoe_cO7e2k5ybhxaTRzZg_lccEbMZKMHabiXOp-VUuXSlC_jEwTVaS_2fCIrB3xqj-plIKAWWizxfHCmHlrpMEjs0v623SS/w400-h225/RCECAP%20AGM%202022%20(2).jpg" width="400" /></a></p><p>然后则介绍这次会议的一些重要人物,然后则由曾经荣获最佳CEO的执行长为股东讲解公司的一些关键数据,以下是这些关键的重要数据。。</p></div><div><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisPCKP5vaiBSdmiHPyktXctTFYFGcD4L76CugYdxejpSf6edCK_CStUro-yIPHwK1ZJkAXlMCnQbO-1ELQobcWGVbfEHf1sAJIFMap1CyLZF9RQFlmScMgcvwDQmDKjkEWkoNlPEJOAAMhrsyGrtGHbfMYhvjyBi9AWNrFd3LR2AvTp_eo2MPJKFlu/s1920/RCECAP%20AGM%202022%20(3).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisPCKP5vaiBSdmiHPyktXctTFYFGcD4L76CugYdxejpSf6edCK_CStUro-yIPHwK1ZJkAXlMCnQbO-1ELQobcWGVbfEHf1sAJIFMap1CyLZF9RQFlmScMgcvwDQmDKjkEWkoNlPEJOAAMhrsyGrtGHbfMYhvjyBi9AWNrFd3LR2AvTp_eo2MPJKFlu/w400-h225/RCECAP%20AGM%202022%20(3).jpg" width="400" /></a></p><p>公司营业额在这几年都稳定的成长中,旁边也有为大家注解一些重要的信息,大家可以自己读哦。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipA8WGyre-xQOigqEZDTdKjqXmFOLl40iFnXOd1IJ_N9IMRm0SU67nXLxOWXn7AsWJatv081a0zKn7QSwAvUlbzfRa92IEqrVyKf-A1_Y1VxgB3gYwPh0VRHkt1fRSjLUCG3bbiMJJ7El5nujPcwQmmIg9JZwZ48XGaI-iEei1ST13-q_mukdBSAn2/s1920/RCECAP%20AGM%202022%20(5).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipA8WGyre-xQOigqEZDTdKjqXmFOLl40iFnXOd1IJ_N9IMRm0SU67nXLxOWXn7AsWJatv081a0zKn7QSwAvUlbzfRa92IEqrVyKf-A1_Y1VxgB3gYwPh0VRHkt1fRSjLUCG3bbiMJJ7El5nujPcwQmmIg9JZwZ48XGaI-iEei1ST13-q_mukdBSAn2/w400-h225/RCECAP%20AGM%202022%20(5).jpg" width="400" /></a></p><p>公司的资金成本走势以稳定的走势进发,是好事来的,但是主要是OPR下跌的帮助,接下来OPR开始回升,后续可能就会比较挑战,但是以团队向来的能力,天哥对他们接下来有信心。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUn_p-ELwl1e1_HIypqgBL1brlo3bpA5OdJWWocwRQdkPRMNQDh9LxAoRTcCpwjr7UvJ-H3tpsP4khT9lbEoQXNV3VWM7Pjgv_AmJit6YKnhysM4FtCuAbAPBQ8bz7_HZ7piybu4DnMy6ECgCYdnaXY_MMAoNGL9R_5C7U7fGSXEqWry39MvquNLu4/s1920/RCECAP%20AGM%202022%20(7).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUn_p-ELwl1e1_HIypqgBL1brlo3bpA5OdJWWocwRQdkPRMNQDh9LxAoRTcCpwjr7UvJ-H3tpsP4khT9lbEoQXNV3VWM7Pjgv_AmJit6YKnhysM4FtCuAbAPBQ8bz7_HZ7piybu4DnMy6ECgCYdnaXY_MMAoNGL9R_5C7U7fGSXEqWry39MvquNLu4/w400-h225/RCECAP%20AGM%202022%20(7).jpg" width="400" /></a></p><p>员工成本有所走高,但是比例非常小,所以算非常好了。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjptjztM-YH3bOR19E_bDqIiFYqgoaCZLoNdmHYQcsgI4a3WujAKVT-2VdErlhiZieIGKixRqLnfHHdWjBJuXT1x-wSj49v34Cgf3xRCUa6yY4BzrboHOgV7zoIT8mOu0_XmTcjtZI315lP7fRsGB83eX-iOwGfx5nQtyrvipenXYshylYxFCfmYQh_/s1920/RCECAP%20AGM%202022%20(8).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjptjztM-YH3bOR19E_bDqIiFYqgoaCZLoNdmHYQcsgI4a3WujAKVT-2VdErlhiZieIGKixRqLnfHHdWjBJuXT1x-wSj49v34Cgf3xRCUa6yY4BzrboHOgV7zoIT8mOu0_XmTcjtZI315lP7fRsGB83eX-iOwGfx5nQtyrvipenXYshylYxFCfmYQh_/w400-h225/RCECAP%20AGM%202022%20(8).jpg" width="400" /></a></p><p>银行业的平均成本对回报是大概48%,但是公司的成本对收入只是21%,比银行来得都低,算是营运效益非常好的一家公司。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCmkf4gvZCCPScexRyN9q2YccAKYgLjm3YWkGUgOZhK1PsBNpqLGX3yVAoVfBvsnimN-y2lQ5F9I0OqY02w12OjNgF8CnUybiZBpU1QrbZu_qYI34LJOKmxzoYWATzGt3pCWuyfAdwy6dpCbMLc8FaFbNcFDbqJgtLgWp3X82DVrm-9OnRdw74Nco5/s1920/RCECAP%20AGM%202022%20(9).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCmkf4gvZCCPScexRyN9q2YccAKYgLjm3YWkGUgOZhK1PsBNpqLGX3yVAoVfBvsnimN-y2lQ5F9I0OqY02w12OjNgF8CnUybiZBpU1QrbZu_qYI34LJOKmxzoYWATzGt3pCWuyfAdwy6dpCbMLc8FaFbNcFDbqJgtLgWp3X82DVrm-9OnRdw74Nco5/w400-h225/RCECAP%20AGM%202022%20(9).jpg" width="400" /></a></p><p>公司的loan
loss
coverage和预计的呆账率,是往非常好的方向进发,但是说真的,公司的预计呆账还是高的,这个是需要注意的,毕竟以银行业为例,比较正常的个人贷款一般上的呆账率都是介于5-6%而已,他做到6.1%,还是有点高的,所以公司也继续往更优质的借贷方向进发。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipAeCSRz2sQSCpW9i5EwsP-Hy__Eb9bmWxttJE62YY3MpwaeUfrU5BTta9rOot_5ydXL0Rf0kvXRHiJEJ82ErX9KIB_NtWP0LofI6AQbtLyBgkEIjhTf4DB3H7Ze3JhF40urQeK-JsKewsCdZAaio7LzuPo0511AnfLol45hBPAMloMCqiSlKhdSb1/s1920/RCECAP%20AGM%202022%20(10).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipAeCSRz2sQSCpW9i5EwsP-Hy__Eb9bmWxttJE62YY3MpwaeUfrU5BTta9rOot_5ydXL0Rf0kvXRHiJEJ82ErX9KIB_NtWP0LofI6AQbtLyBgkEIjhTf4DB3H7Ze3JhF40urQeK-JsKewsCdZAaio7LzuPo0511AnfLol45hBPAMloMCqiSlKhdSb1/w400-h225/RCECAP%20AGM%202022%20(10).jpg" width="400" /></a></p><p>这个不需要解释了吧,净利肯定是越高越好就对了XD,而公司的业绩持续每年都做到像一条楼梯那样,其实是非常强的,只是2023就比较难说了,预计挑战会变大,需要特别注意。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVUtPOL9LdasjMuOlIIi9k7r_bA5tK0814ZQtbhTUShvcWeFpSMGB2Se_jxjaKiolsYTNMSUs07OivqbFxrd9F8WVlypxQMHKsM6tUfCH_tE3NQUz1znch6GyksZlpt6GvK-dXn5givNa7PeY8q9wLGSd6kOeyq4D63XpiDs0kJq9Os6CqFpiD2syW/s1920/RCECAP%20AGM%202022%20(11).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVUtPOL9LdasjMuOlIIi9k7r_bA5tK0814ZQtbhTUShvcWeFpSMGB2Se_jxjaKiolsYTNMSUs07OivqbFxrd9F8WVlypxQMHKsM6tUfCH_tE3NQUz1znch6GyksZlpt6GvK-dXn5givNa7PeY8q9wLGSd6kOeyq4D63XpiDs0kJq9Os6CqFpiD2syW/w400-h225/RCECAP%20AGM%202022%20(11).jpg" width="400" /></a></p><p>公司的成长,贷款数目大概有增加,平均每人的借贷也是增加,但是总户口的数量已经连续两年下降的,可能可以提款公积金,所以特别多人一次过清还吧。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDYEeE3ZJZxp7V1nn1SLx8v7JMc2Y4x-XCy5Xos8ejc3bJc60ahwDX9reZcWLxolc9LARb95RfYPHH3f5jdigfOlPFUUVB-gW6Vzo_MHnNHY8N_kRNHq3yjP0vL4fYNY6jOomFJ-AozZFCkW0cQtanCGkcCV7N1UmYGomKp3uWnUofPrH_p5ovxdLy/s1920/RCECAP%20AGM%202022%20(12).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDYEeE3ZJZxp7V1nn1SLx8v7JMc2Y4x-XCy5Xos8ejc3bJc60ahwDX9reZcWLxolc9LARb95RfYPHH3f5jdigfOlPFUUVB-gW6Vzo_MHnNHY8N_kRNHq3yjP0vL4fYNY6jOomFJ-AozZFCkW0cQtanCGkcCV7N1UmYGomKp3uWnUofPrH_p5ovxdLy/w400-h225/RCECAP%20AGM%202022%20(12).jpg" width="400" /></a></p><p>公司的短期资产与负债的走势。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4JlVPU39NwzuU3phcCNPu8C__SyBvRlIAmPuq5wJKHtTe83X0ljSIPJx6ukVkJ8J8GJo8DLEsB9fv3Xl0cm3r3fvHbUsp4PC6DUVUPTdyE22QCS6txQxc0txem0WwWJMlGLTnl9Y41T26EncrVbENJMHSXJx_72P3guh3FK5Hdlm5riNv8w3J673i/s1920/RCECAP%20AGM%202022%20(13).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4JlVPU39NwzuU3phcCNPu8C__SyBvRlIAmPuq5wJKHtTe83X0ljSIPJx6ukVkJ8J8GJo8DLEsB9fv3Xl0cm3r3fvHbUsp4PC6DUVUPTdyE22QCS6txQxc0txem0WwWJMlGLTnl9Y41T26EncrVbENJMHSXJx_72P3guh3FK5Hdlm5riNv8w3J673i/w400-h225/RCECAP%20AGM%202022%20(13).jpg" width="400" /></a></p><p>公司资金来源比例分布图</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgo_iLnKm2T0zE01Pe0aHS7VQF3fvX_LLLyVJWg5Vbds9ehtvvhc9BMth2F9vKp7DYkBKIoTqJeqtcCpBCNn5slB3KPs6qm5Mu4sSeJ3_JV2_-lSNM9YrLrjL-sAxAOnWTD8svZpnWuaJ1Ao6mcU3d2YSlW7NJWwYEUWP32jxHkb3O1XmbIoG-XLEkY/s1920/RCECAP%20AGM%202022%20(14).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgo_iLnKm2T0zE01Pe0aHS7VQF3fvX_LLLyVJWg5Vbds9ehtvvhc9BMth2F9vKp7DYkBKIoTqJeqtcCpBCNn5slB3KPs6qm5Mu4sSeJ3_JV2_-lSNM9YrLrjL-sAxAOnWTD8svZpnWuaJ1Ao6mcU3d2YSlW7NJWwYEUWP32jxHkb3O1XmbIoG-XLEkY/w400-h225/RCECAP%20AGM%202022%20(14).jpg" width="400" /></a></p><p>公司未来的资金来源,还有14亿左右,所以我相信未来3-5年的资金来源已经不是问题了,重点是生意有没有而已,而公司都说明要走素质,而不是数量了,相信这个已经够用一段很长的时间了。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjglsS8mSFE5oR-UocMihV-vjPTjiljHUGezGPUtbhK2Lu2kQkTRbU6_2A0ZFD3YHM8_DUD_r26SNaIn2rsITAb7yBk8sWnCnCkWSGjAwv4HNE8NByETB6uRk8-1aXKGk60oRlfMlB7Xl2ddgM-i9xOfoAAayMWjfhvTmAY6wOEKtgqawZBc8kazy2S/s1920/RCECAP%20AGM%202022%20(15).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjglsS8mSFE5oR-UocMihV-vjPTjiljHUGezGPUtbhK2Lu2kQkTRbU6_2A0ZFD3YHM8_DUD_r26SNaIn2rsITAb7yBk8sWnCnCkWSGjAwv4HNE8NByETB6uRk8-1aXKGk60oRlfMlB7Xl2ddgM-i9xOfoAAayMWjfhvTmAY6wOEKtgqawZBc8kazy2S/w400-h225/RCECAP%20AGM%202022%20(15).jpg" width="400" /></a></p><p>公司资金来源的一些关键数据和需要支付的利息,不过2022的成本有所提高了,旁边也有注解一些重要信息,大家就自己点击阅读咯。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwMKC6bIxSS0fWjEq_QSif54kLFL1K5cu1bLsox5vcbuwznFVkvcfshhJpJ1C9VPNOqvjZAY_9-1OMoKxD3Ggh0BFhnufv0khGmEQQsr2lFRYaGY6qc2Va-lXPiQ1ksEk3mwoF37d-UhcxKYuljwGZv_VpetVwNTVxaLiA24F6x6DXrxUd-haGDgCd/s1920/RCECAP%20AGM%202022%20(16).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwMKC6bIxSS0fWjEq_QSif54kLFL1K5cu1bLsox5vcbuwznFVkvcfshhJpJ1C9VPNOqvjZAY_9-1OMoKxD3Ggh0BFhnufv0khGmEQQsr2lFRYaGY6qc2Va-lXPiQ1ksEk3mwoF37d-UhcxKYuljwGZv_VpetVwNTVxaLiA24F6x6DXrxUd-haGDgCd/w400-h225/RCECAP%20AGM%202022%20(16).jpg" width="400" /></a></p><p>公司每一tranche的sukuk评级,class b的1 to 5也调升至3个A评级。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhOi5F3jUetxEYE0JWw-OnPiBCy3ptgvopnqGKi6p6_fFoAsWKZvunsK1OfquWyF3HKP-LFOvNxFQnP8lex_F_jjMndAtHC7HV9rP3Nao3FrBwbKjwS21ssM--9NU7DpK4MXIQqvetdTc9YytxLFQmAwzRcRpcEOpP5GJGPq7oG8K1W0OfzBcEeVQFc/s1920/RCECAP%20AGM%202022%20(17).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhOi5F3jUetxEYE0JWw-OnPiBCy3ptgvopnqGKi6p6_fFoAsWKZvunsK1OfquWyF3HKP-LFOvNxFQnP8lex_F_jjMndAtHC7HV9rP3Nao3FrBwbKjwS21ssM--9NU7DpK4MXIQqvetdTc9YytxLFQmAwzRcRpcEOpP5GJGPq7oG8K1W0OfzBcEeVQFc/w400-h225/RCECAP%20AGM%202022%20(17).jpg" width="400" /></a></p><p>公司的GEARING RATIO有逐渐开始走低,是好的。也主要是公司持续赚钱,但是只派发了40…%左右的股息,所以资本变大,GEARING自然就逐步变小了,但是这个虽然是好的,但是也有一个坏处。。就是。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiifDqrDUxCMrYOpjrBHxW9MjfsVn5vmeshjoAiDFSOX-VrCkSnetye0V_PmpFlJDLz_OaYE2WanlSGq5pMo2II1mejz6CRHt30VK341OLOJWW8UCNB-Vg1P5aC8pNqCtjBxW4b2psmZmztvdRYm2INjHrmgs1tyHH49tzm8kJrAQh_7n7lvl98KqEo/s1920/RCECAP%20AGM%202022%20(18).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiifDqrDUxCMrYOpjrBHxW9MjfsVn5vmeshjoAiDFSOX-VrCkSnetye0V_PmpFlJDLz_OaYE2WanlSGq5pMo2II1mejz6CRHt30VK341OLOJWW8UCNB-Vg1P5aC8pNqCtjBxW4b2psmZmztvdRYm2INjHrmgs1tyHH49tzm8kJrAQh_7n7lvl98KqEo/w400-h225/RCECAP%20AGM%202022%20(18).jpg" width="400" /></a></p><p>当公司的资本规模越大,那么营运效率就会变得更小了,所以ROE逐步下降,例如我有100万资本,我举债到GEARING2-3倍,然后我再借钱出去,那么我的GEARING很高,所以风险很高,但是同时赚幅也是高,所以ROE增加,但是天哥认为,ROE也不需要这么高,逐步稳定化组合也是好的,就交给CEO去做好他认为对的事就行了,最重要持续有钱赚,股息舍得派就ok了。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdZ_38MY3BAWZ8FHDBjYdsEKVHM0UZPLD2lxxd50IfOei785aD7h9LLLJ-AXavhf5NMQ0kuvfrIML59uxRkUgw9RHuEKVSltawQssE6GS5pvPHeeQgKkrPnkvd-MQPE7Papnx9lUVXOWXMVRQ7SlbGSMuvaIqvb4WLu7KFLMoQ1Z3oPC5qcdqS9oKB/s1920/RCECAP%20AGM%202022%20(19).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdZ_38MY3BAWZ8FHDBjYdsEKVHM0UZPLD2lxxd50IfOei785aD7h9LLLJ-AXavhf5NMQ0kuvfrIML59uxRkUgw9RHuEKVSltawQssE6GS5pvPHeeQgKkrPnkvd-MQPE7Papnx9lUVXOWXMVRQ7SlbGSMuvaIqvb4WLu7KFLMoQ1Z3oPC5qcdqS9oKB/w400-h225/RCECAP%20AGM%202022%20(19).jpg" width="400" /></a></p><p>这个是公司过去派发股息的记录,也有连续16年派息记录,总共派发了4亿7600万的股息,记得当初天哥开始留意的时候,他市值只是3-4亿而已,如果回到2007的话,市值应该更小了,变相来说,投资者拿回资本,目前所有股都是免费的,而且股价还增长了很多倍了,这个就是所谓的长期持有优质公司的价值投资者该获得的回报了,慢慢来未必就真的比较慢的。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisyYc6ScINTsAXWbWfoGebOwWoaYAj_zgNk0MN5zr2AqtD-K4UxW7vCXNHHvpsva9PTLrTX695EfvZlARuf7M1vDmHD-ZKGKLjEowV9DiuIocHIx8jVwI4wn_7iCM_qoxcoIrSesikzG-gq-5PR5YXd8S7Cw4p75Qo4jeYh4fF0syQX4zs0HikMBiJ/s1920/RCECAP%20AGM%202022%20(20).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisyYc6ScINTsAXWbWfoGebOwWoaYAj_zgNk0MN5zr2AqtD-K4UxW7vCXNHHvpsva9PTLrTX695EfvZlARuf7M1vDmHD-ZKGKLjEowV9DiuIocHIx8jVwI4wn_7iCM_qoxcoIrSesikzG-gq-5PR5YXd8S7Cw4p75Qo4jeYh4fF0syQX4zs0HikMBiJ/w400-h225/RCECAP%20AGM%202022%20(20).jpg" width="400" /></a></p><p>公司的一些重点,可以看到基本上所有的数据都是非常漂亮的在成长的,除了ROE,但是没办法的,gearing下降,这个一般上跟着下的,风险变低,回报率肯定少一点点的,但是能够做到16%也算事不错了。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUjgQgFdTraNN9ddgcoiRoTmZHFRAfOndupUetedrmzKqAikJQph4eOYbTuY6XtQZyz1HF0jcssQrLSYnBIlQ-gseuxtLxf6UkU1NKT31SFMWhEsa3imjhyPWHlpYw5ZRAEtqHunb5WLgYH2SlSuqS9Gh3Vh4in4E1qu3hzS46G5NPcv74RON8lXUm/s1920/2022-09-08%2010-29-56_Moment.jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUjgQgFdTraNN9ddgcoiRoTmZHFRAfOndupUetedrmzKqAikJQph4eOYbTuY6XtQZyz1HF0jcssQrLSYnBIlQ-gseuxtLxf6UkU1NKT31SFMWhEsa3imjhyPWHlpYw5ZRAEtqHunb5WLgYH2SlSuqS9Gh3Vh4in4E1qu3hzS46G5NPcv74RON8lXUm/w400-h225/2022-09-08%2010-29-56_Moment.jpg" width="400" /></a></p><p>公司是shariah compliant的公司,而现在很讲究的ESG,公司是符合规格的,也是FTSE4GOOD的成员公司之一。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiquQSIc9Nht7973vKmm196F6FKKEl66Yh8FO0ME3N70YPOA1_p-UNwN6jVyZpRnz1JRweKbJDYNFyChJgusAVUxNgCkt4eoQCxhGewUYppxcOuuzl19U15pvUzn1CE3mbVe9awr7naiA335pjM9LwRSAnGP4YC7ufmj75o3YZINcof0C031OKWq8Nb/s1920/2022-09-08%2010-29-56_Moment.jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiquQSIc9Nht7973vKmm196F6FKKEl66Yh8FO0ME3N70YPOA1_p-UNwN6jVyZpRnz1JRweKbJDYNFyChJgusAVUxNgCkt4eoQCxhGewUYppxcOuuzl19U15pvUzn1CE3mbVe9awr7naiA335pjM9LwRSAnGP4YC7ufmj75o3YZINcof0C031OKWq8Nb/w400-h225/2022-09-08%2010-29-56_Moment.jpg" width="400" /></a></p><p>公司这些年的一些关键发展和股价的发展,也成为了10亿市值俱乐部的成员股之一。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjisSJHBfIR5h5O6GxJS0GF9mHp2Tx6cBYHfeUjL7JPOrjAuuiOe72kKBCJ3JCy-P-K6F4A80jfxLP8gt_XN66FLaYzgE3IQQF_Y-A9ySAFAd9wcRA-BkPR7Z1t2a66M5cJ3sW7FAjB4OjYo9I6oIb94MfnUNj8Xunn_iztUdYjGqLHsv_p3-XX_FXW/s1920/RCECAP%202022AGM%20B%20(1).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjisSJHBfIR5h5O6GxJS0GF9mHp2Tx6cBYHfeUjL7JPOrjAuuiOe72kKBCJ3JCy-P-K6F4A80jfxLP8gt_XN66FLaYzgE3IQQF_Y-A9ySAFAd9wcRA-BkPR7Z1t2a66M5cJ3sW7FAjB4OjYo9I6oIb94MfnUNj8Xunn_iztUdYjGqLHsv_p3-XX_FXW/w400-h225/RCECAP%202022AGM%20B%20(1).jpg" width="400" /></a></p><p>公司之前申请DIGITAL BANK LICENSE失败,但是公司依然期待是否有中标者可以一起合作,因为这一块预计对公司有一定的帮助。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh7DVmP3PzWQv40ta-8BH_e0YrWXc_ve7cQmESGICpZnZd-olJKLav1Vi43blLKe8Xkgnm56KZCF7eB2i8bGkBFDU6607YSmPyMh_-CCf6g-8Xq6PyLC72URP2tVoVwqzg74-iAVNbPGdDlrWjaCSCYRWB-rGnmDLWJqsgDuoVDynjEMJq4bLAEy_2h/s1920/RCECAP%202022AGM%20B%20(2).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh7DVmP3PzWQv40ta-8BH_e0YrWXc_ve7cQmESGICpZnZd-olJKLav1Vi43blLKe8Xkgnm56KZCF7eB2i8bGkBFDU6607YSmPyMh_-CCf6g-8Xq6PyLC72URP2tVoVwqzg74-iAVNbPGdDlrWjaCSCYRWB-rGnmDLWJqsgDuoVDynjEMJq4bLAEy_2h/w400-h225/RCECAP%202022AGM%20B%20(2).jpg" width="400" /></a></p><p>目前大马的家庭债务数据,注解就自己看了。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixTzdWRWYxnQuIyXEdgP4HELSRE8nDmh_madun6qAv8EdExrnYLFjReA98ZPyumK-foF0tR4Q9lec2p8Ef108P9DL7ngOospWTvP6rY7C6qjil5atsikyqAiJZq2H1ntSrWecjfs6jYOxnOCFOGnZyIC5fziNL6juC_6XUgdx10_jp0Pd4t7gr1nrm/s1920/RCECAP%202022AGM%20B%20(3).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixTzdWRWYxnQuIyXEdgP4HELSRE8nDmh_madun6qAv8EdExrnYLFjReA98ZPyumK-foF0tR4Q9lec2p8Ef108P9DL7ngOospWTvP6rY7C6qjil5atsikyqAiJZq2H1ntSrWecjfs6jYOxnOCFOGnZyIC5fziNL6juC_6XUgdx10_jp0Pd4t7gr1nrm/w400-h225/RCECAP%202022AGM%20B%20(3).jpg" width="400" /></a></p><p>随着升息发生,管理层预计接下来的贷款市场会更加谨慎,因为借贷成本更高了,所以是接下来需要注意的事项。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiY4EJVGe6-LmeDc8fBEQFgWGbO-lkDeKwfR7buiO8IhIXqpp7Td-8zXXb8ZeEbTA92pI2WATYFw3c90ijvzYmgozCMtq8LBtxKOxPNiTaYG57S-vUjvQvIBie0lgCd6_5iTqtW2OQ1ToZZRfudYp2C8P14Q75oEh5sBhvcRl3PUsahD4Rrdn8yBFic/s1920/RCECAP%202022AGM%20B%20(4).jpg"><img class="moz-reader-block-img" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiY4EJVGe6-LmeDc8fBEQFgWGbO-lkDeKwfR7buiO8IhIXqpp7Td-8zXXb8ZeEbTA92pI2WATYFw3c90ijvzYmgozCMtq8LBtxKOxPNiTaYG57S-vUjvQvIBie0lgCd6_5iTqtW2OQ1ToZZRfudYp2C8P14Q75oEh5sBhvcRl3PUsahD4Rrdn8yBFic/w400-h225/RCECAP%202022AGM%20B%20(4).jpg" width="400" /></a></p><p>而随着更多的公务员提早退休,所以这个也是公司特别关注的地方,因为可能导致呆账的比例提升。</p><p><b><span data-darkreader-inline-color="">今年的MSWG并没有任何问题,所以直接就由股东问题开始处理。。</span></b></p></div><p><span data-darkreader-inline-color=""><b>今天股东大会的重点如下。。</b></span></p><div><p><span data-darkreader-inline-color="">股东问起为何顾客profile改变了,但是管理层表示并没有更换顾客,还是那一群,而单人平均借贷提高,主要是因为这些顾客做了refinancing的缘故,而公司目前依然是专注在贷款的素质。</span></p><p><span data-darkreader-inline-color="">今年大马的GDP预计成长是5-6%,股东问管理层公司今年的成长是否能够追随大马的成长,但是管理层表示,条例来说,公司不能给与任何的预计建议,但是管理层认为,今年公司的成长会跟同行大致上相同。</span></p><p><span data-darkreader-inline-color="">股东提起opr提升如何对公司照成影响,而管理层表示,提升OPR公司并不会直接获利,公司的资金成本也不会直接增加,这个取决于公司已经使用了多少的sukuk和那些sukuk是否fix rate的,但是管理层表示影响不大。</span></p><p><span data-darkreader-inline-color="">而放贷方面,由于公司的产品也是FIX RATE为主,所以就算OPR提升也不会对公司带来效益,而公司也不能直接调整借贷的利息,但是会创造更多不同的新产品,来维持公司的赚幅,目前来说,公司的贷款利率为5.99-9.99%。</span></p><p><span data-darkreader-inline-color="">股东问起最新的impairment增加,管理层表示就那个做账手法,任何涉及到特定条例的都会自动归类为呆账,他不会计算回收率,管理层也表示目前的时间点很大的不确定性,毕竟经历了2年的疫情,所以目前谈呆账回收率有点早。</span></p><p><span data-darkreader-inline-color="">对于最低薪金制从1200提升至1500来说,其实对公司的影响是微乎其微,反而管理层认为,这个是有利于公司未来的成长,因为公务员的收入增加,意味着公司的潜在客户变多了。</span></p><p><span data-darkreader-inline-color="">股东问起为何tranche 6 和 7的sukuk 公司内部申请更多,认为是不是市场需求更低,所以被逼自己人认购,管理层表示市场的需求还是一样很多,内部人士人工也并不是什么特别的事。</span></p><p><span data-darkreader-inline-color="">股东问起由一笔贷款是高达5000万,管理层表示这位顾客由足够的抵押,也不认为这个是长期的借贷,并且预计很快就会提早还清这个贷款了。</span></p><p><span data-darkreader-inline-color="">股东问起公司的贷款组合成长不高,管理层表示目前公司更专注于优质的借贷,所以不能为了成长而乱放贷。</span></p></div><p>总的来说,从这次股东大会得到的资讯其实不多,跟之前依然一样,也就是公司的整体情况持续进步中,但是也跟之前预计的一样,公司的成长短期内会受到影响,毕竟目前的行情非常严峻,所以按理说接下来的股息应该也只会暂时维持,而虽然目前行情1麻麻地,但是天哥对公司未来依然保持正面的看法,而从公司的基本面数据来看,其实目前虽然没有太低估,但是PE,DY和ROE等也处于合理位置,重点是他的这个dividend其实只派发了净利的40%左右而已,所以其实公司大部分的资金都用作增强公司的根基,是好事来的,如果未来公司根基更好,股息政策有所调高,那么股息率就会更粗了。</p><p>但是公司公司目前还在成长阶段,所以能够派出这样的股息,我个人已经非常满意了,所以成熟期可能真的要慢慢等了,而天哥也跌出30大,被基金取代了,没办法,钱不够人家多,公司又不错,人家要加码也是应该的,而接下来的升息期依然预计公司会有一定的压力,所以接下来1-2年预计公司会是休养生息的日期了,而目前公司依然被认为是股价太稳太焖,但是有时候这些乌龟慢慢爬下爬下,也可以爬很远的,以天哥3-4年前买入才1.2(分拆后的60sen左右),几年都翻一两倍还几乎所有成本都回收完毕了,所以天哥宁可闷闷地赚钱,好过痛痛快快亏钱的,有时候投资不需要太复杂的,简简单单的,每次股市低迷,分批入场优质股,虽然时常被人家笑傻子,但是又何妨呢?</p><p>所谓别人笑我太疯癫,我笑他人看不穿嘛,只要能够到达目的地,慢一点又何妨,最重要稳而已,人家说应该这样那样更快,但是翻车的时候,这些人也是静静而已,所以天哥宁可慢慢来稳稳来,也不要翻车呢,毕竟钱包是自己的,过去两年,应该很多领域投资者都看到所谓追高带来的“效益”了吧,所作为价值投资者的天哥,我还是喜欢低估和安全为主,什么趋势追高的,还是别预我了,我可不想成为炮灰呢。。</p><div><p>好啦,今天就到这里啦,记得点赞支持下咯。。 :)</p><div><div><p><span data-darkreader-inline-color="">你的一个小小的like或share,是对天哥的最佳鼓励和动力哦^。^</span></p></div><div>https://windscopo2.blogspot.com/2022/09/rcecap-8-9-2022-e-broadcast.html</div></div></div>
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Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-57019741248135013342022-08-12T01:08:00.002+08:002022-08-12T08:57:08.976+08:005分钟看懂 RCECAP(9296) 2023年 Q1季报 ~ 好得来不太好的业绩?
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<div class="header reader-header reader-show-element"><span><a name='more'></a></span>5分钟看懂 RCECAP(9296) 2023年 Q1季报 ~ 好得来不太好的业绩?
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<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s1600/RCECAP+LOGO.png"><img class="moz-reader-block-img" data-original-height="420" data-original-width="900" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s640/RCECAP+LOGO.png" width="640" /></a></p><p>之前有说过,全部天哥的公司一次过同一天出业绩,所以根本不懂要写谁更好了,而RCECAP这次居然特别安排特别早出业绩,既然如此的话,天哥不用选了,因为只此一家,别无分店了,所以今天就聊一聊关于这家公司的最新季报吧,RCECAP天哥曾经连续几年都挤入他的30大股东名单里,最新一年的年报终于被挤出榜了,但是其实天哥只是减持了部分,还是主力,所以还是需要继续关心他的业绩咯,不过他这个季度好像还好,但是又好像不好,那么到底好还是不好呢XD?我们一起探讨下吧。。</p><h3 data-darkreader-inline-bgcolor="" data-darkreader-inline-color="">Quarterly rpt on consolidated results for the financial period ended 30 Jun 2022</h3><h3 data-darkreader-inline-bgcolor="" data-darkreader-inline-color=""><br data-darkreader-inline-color="" /><table data-darkreader-inline-color=""><tbody><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-bgimage="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">Financial Year End</td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">31 Mar 2023</td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-bgimage="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">Quarter</td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">1 Qtr</td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-bgimage="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">Quarterly report for the financial period ended</td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">30 Jun 2022</td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-bgimage="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">The figures</td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">have not been audited<span data-darkreader-inline-color=""></span></td></tr></tbody></table></h3><h4 data-darkreader-inline-color="">Attachments</h4><h3 data-darkreader-inline-bgcolor="" data-darkreader-inline-color=""><div data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p>Currency: <span>Malaysian Ringgit (MYR)</span></p></div></h3><h4 data-darkreader-inline-color=""><span>SUMMARY OF KEY FINANCIAL INFORMATION</span><br /><span>30 Jun 2022</span></h4><h3 data-darkreader-inline-bgcolor="" data-darkreader-inline-color=""><div data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><table data-darkreader-inline-bgcolor="" data-darkreader-inline-bgimage="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><tbody><tr><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color="" rowspan="5"> </td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>INDIVIDUAL PERIOD</span></p></td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>CUMULATIVE PERIOD</span></p></td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>CURRENT YEAR QUARTER</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>PRECEDING YEAR<br />CORRESPONDING<br />QUARTER</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>CURRENT YEAR TO DATE</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>PRECEDING YEAR<br />CORRESPONDING<br />PERIOD</span></p></td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p>30 Jun 2022</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p>30 Jun 2021</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p>30 Jun 2022</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p>30 Jun 2021</p></td></tr><tr data-darkreader-inline-bgcolor=""></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>$$'000</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>$$'000</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>$$'000</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>$$'000</span></p></td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>1</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Revenue</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>77,661</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>78,035</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>77,661</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>78,035</p></td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>2</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Profit/(loss) before tax</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>42,887</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>47,250</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>42,887</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>47,250</p></td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>3</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Profit/(loss) for the period</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>32,227</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>35,387</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>32,227</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>35,387</p></td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>4</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Profit/(loss) attributable to ordinary equity holders of the parent</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>32,227</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>35,387</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>32,227</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>35,387</p></td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>5</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Basic earnings/(loss) per share (Subunit)</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>4.40</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>4.97</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>4.40</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>4.97</p></td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>6</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Proposed/Declared dividend per share (Subunit)</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>0.00</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>0.00</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>0.00</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>0.00</p></td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><br /></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><br /></td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>AS AT END OF CURRENT QUARTER</span></p></td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>AS AT PRECEDING FINANCIAL YEAR END</span></p></td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>7<br /></span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Net assets per share attributable to ordinary equity holders of the parent ($$)</span></td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>1.2000</p></td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>1.1900</p></td></tr></tbody></table></div></h3><h3 data-darkreader-inline-bgcolor="" data-darkreader-inline-color=""></h3><h3 data-darkreader-inline-bgcolor="" data-darkreader-inline-color=""></h3><p>这个季度是RCECAP
2023财政年的第1个季度业绩,如果大家有注意RCECAP的话,其实去年同季是RCECAP历史以来最好的季度,所以这个季度对比起去年这个历史最好的季度来说,营业额能够大概相符算是非常不错了,但是。。来到净利方面,今年这个季度就有点逊色,为什么呢?我们还是看看完整版的业绩比较好。。</p><div><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjg1xbvbB1-yYECkWzaehyvtNcazhrPTiwBi_OQPDL5ZHwehXsEBJFioUFUg5y2TFIP513NVl2dc0mFor-meq3_zPREoRy6Ru1JINIrXpwUAz0kZq4au0A0aHWulrCp4z06oPjEmz8EfzA9K9KV22VM3TsS3_CA81jLZ7GjRPTjQKgrfboPvbZxdG6T/s1560/RCECAP%20001.jpg"><img class="moz-reader-block-img" data-original-height="1560" data-original-width="1042" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjg1xbvbB1-yYECkWzaehyvtNcazhrPTiwBi_OQPDL5ZHwehXsEBJFioUFUg5y2TFIP513NVl2dc0mFor-meq3_zPREoRy6Ru1JINIrXpwUAz0kZq4au0A0aHWulrCp4z06oPjEmz8EfzA9K9KV22VM3TsS3_CA81jLZ7GjRPTjQKgrfboPvbZxdG6T/w268-h400/RCECAP%20001.jpg" width="268" /></a></p><p>这个是完整版的季报,其实说真的,他这个季度的业绩一点都不差,对比起去年这个历史最强的季度,营业额就没输,而且算上其他收入的话,基本上是打和的,但是大家有留意到我highlight红色的地方吗?他的impairment在这个季度出现了特别多的数目,这个也是影响他净利的一个关键地方,所以当这部分影响之后,下面净利方面全部都受到影响了,所以如果不是impairment的话,其实这个季度会很好的,但是有就是有,不能当没有,但是这部分是需要留意的,不宜长期保持高数额,不然就代表公司的方针有点问题了。。</p><div><div><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmRG9Qs1MNo8qcpoB3qBxphcc9cw6vsOk3reT9ux4RYelzLsF9M_PAohnWQAjJoraCm8kTQbeVoW3MOkmq_UAuYasl8UJZjNNskU5FCnICo7kRPHwW4D7xuBxt5gO0di3tOdvJMGQXnmcnoesCv357tzqruYEhBSrE4pR5fnLO1Vd2s5Sb92QVDOMq/s2034/RCECAP%20003.jpg"><img class="moz-reader-block-img" data-original-height="859" data-original-width="2034" height="169" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmRG9Qs1MNo8qcpoB3qBxphcc9cw6vsOk3reT9ux4RYelzLsF9M_PAohnWQAjJoraCm8kTQbeVoW3MOkmq_UAuYasl8UJZjNNskU5FCnICo7kRPHwW4D7xuBxt5gO0di3tOdvJMGQXnmcnoesCv357tzqruYEhBSrE4pR5fnLO1Vd2s5Sb92QVDOMq/w400-h169/RCECAP%20003.jpg" width="400" /></a></p><p>这个表就比较容易看得到,如果有注意的话,其实这个季度的营业额真的不会差的,但是短期内估计会是公司修养升息的时间段,所以也不至于会出现很大的成长,这个也是真的,随着疫情结束市场重新开放,所以这个季度的业绩可以作为一个考量,天哥觉得其实没有太好,但是其实也不弱就是了,总的来说,就是不好不坏,没惊喜,没惊吓XD。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxJ8bxgeF__42uC2amCS63_J-9zwgJolBhqjmeYyNCweajgrIum0HAS_v5X-6BMEqvOcgF7oJLqXBV6gMS85ka3zPX6dv8g80o3Ihbx1LNxhiJJ-UOAGwNKJ_HuGbOGoTk24HHRRjsPpPWgWWXyiNFHGVxTVyGebxFrJ31vi7HyLhPeZniVtFC9-gj/s1974/RCECAP%20004.jpg"><img class="moz-reader-block-img" data-original-height="547" data-original-width="1974" height="111" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxJ8bxgeF__42uC2amCS63_J-9zwgJolBhqjmeYyNCweajgrIum0HAS_v5X-6BMEqvOcgF7oJLqXBV6gMS85ka3zPX6dv8g80o3Ihbx1LNxhiJJ-UOAGwNKJ_HuGbOGoTk24HHRRjsPpPWgWWXyiNFHGVxTVyGebxFrJ31vi7HyLhPeZniVtFC9-gj/w400-h111/RCECAP%20004.jpg" width="400" /></a></p><p>公司在2015年重组完毕后,业绩就几乎每年稳健的成长着了,每年的业绩都是好像楼梯那样往上怕,这两年疫情年也在没有期望之下,继续创了新的记录,算是很不错了,而且公司的nett
profit
margin居然还在上涨,但是今年来说,应该好像天哥说的,是休养生息的一年,今年能否继续保持成长就很难说了,而且难度也会蛮高,就看管理层做得如何了。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiR1L_AVBjKbwDUGoTKV3awlwo-4tgkJ95iHLKCshGRjQ4BUUMXMJ3OnM0n9nucxbm9oiQjvgI3-5wA9HgXplmCJB_BbGdgEqm1Cy3uFqUpMq6lQFV6Fu-wnxew_Mwk8AUcm5P5njNKHHH_Q1YKpEcZeYe2_gE4Rblx1gJs8kRo9jletu6-E0kCVm5i/s1648/RCECAP%20002.jpg"><img class="moz-reader-block-img" data-original-height="1648" data-original-width="1107" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiR1L_AVBjKbwDUGoTKV3awlwo-4tgkJ95iHLKCshGRjQ4BUUMXMJ3OnM0n9nucxbm9oiQjvgI3-5wA9HgXplmCJB_BbGdgEqm1Cy3uFqUpMq6lQFV6Fu-wnxew_Mwk8AUcm5P5njNKHHH_Q1YKpEcZeYe2_gE4Rblx1gJs8kRo9jletu6-E0kCVm5i/w269-h400/RCECAP%20002.jpg" width="269" /></a></p><p>这个是他的资产负债表,天哥为何喜欢借贷公司?就是因为当他们赚到了钱,就能把钱拿去再放贷,然后又赚到更多钱,继续放贷,如此类推就能够确保几乎保持着增长了,前提是放贷的钱没有变成呆账啦,而这次的业绩虽然是不过不失,但是公司的资产负债表其实还算不错的,生意多了,放贷变多了,现钱肯定是减少的,不借出去怎么赚钱?但是整体来说,其实跟天哥之前说的一致,暂时资产负债表是蛮稳定的,没有什么惊喜或惊吓。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3WTwWjjnM7UpGPLyPVaki54XCJubzQTiNc3WH5trHCs6EWtdtaxfU359psx2d5GFTX5mCqLUSniejJEoaJhsev26-t29jpI7jGxR8qB9NvPIJzmHGPSXyWkWxHouPtBFOrKGrzArwHyC3BhTxaBeFymYFuboW8n9eH7t-balyTwRtY8wPIfHbQe3D/s1096/RCECAP%20--5.jpg"><img class="moz-reader-block-img" data-original-height="381" data-original-width="1096" height="139" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3WTwWjjnM7UpGPLyPVaki54XCJubzQTiNc3WH5trHCs6EWtdtaxfU359psx2d5GFTX5mCqLUSniejJEoaJhsev26-t29jpI7jGxR8qB9NvPIJzmHGPSXyWkWxHouPtBFOrKGrzArwHyC3BhTxaBeFymYFuboW8n9eH7t-balyTwRtY8wPIfHbQe3D/w400-h139/RCECAP%20--5.jpg" width="400" /></a></p><p>这个是管理层给与投资者的一些解释,关于公司这一年的一些预计和市场的方向,天哥就不翻译了,大家自己点击来查阅吧,是非常重要的一些资讯,虽然不是很完整,但是有了解肯定比完全糊里糊涂持股好的。。</p><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDYCN1JTyQDWcSh9YEX9K3bYpIP94G8i1Vhgd9bqhQRHFE1ymb0zfCEhpgpCOidPy7X55FAc98CIneTkJrKHpAcgKu3xU7Gf_DQQ4k5Tzzd9kv__NTaJKD8X_cw7X9Zak1WCTa3Ew7_o9NIPHORHyLhBoUgKIjtVQclTt5N9CIUu2SF3HFaUhzETHU/s1093/RCECAP%20006.jpg"><img class="moz-reader-block-img" data-original-height="576" data-original-width="1093" height="211" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDYCN1JTyQDWcSh9YEX9K3bYpIP94G8i1Vhgd9bqhQRHFE1ymb0zfCEhpgpCOidPy7X55FAc98CIneTkJrKHpAcgKu3xU7Gf_DQQ4k5Tzzd9kv__NTaJKD8X_cw7X9Zak1WCTa3Ew7_o9NIPHORHyLhBoUgKIjtVQclTt5N9CIUu2SF3HFaUhzETHU/w400-h211/RCECAP%20006.jpg" width="400" /></a></p><p><span data-darkreader-inline-color=""><b>RCECAP(9296)</b></span><br /><span data-darkreader-inline-color=""><b>股价:RM1.66</b></span><br /><span data-darkreader-inline-color=""><b>PE:9.05+-</b></span><br /><span data-darkreader-inline-color=""><b>DY:4%</b></span><br /><span data-darkreader-inline-color=""><b>ROE:16.27%</b></span><br /><b><span data-darkreader-inline-color=""><br /></span></b>很多人把云顶跟天哥画上等号,其实RCECAP又何尝不是天哥组合里最大的投资之一呢?他还刷新了天哥单只股项赚最多钱的记录呢,天哥也曾经几年出现在他公司年报里的30大股东,当然,最新一年是已经跌出来了,因为天哥有调整了组合比例,之前写季报内容的时候其实也有分享过的,天哥有趁着他之前走高,回收了少许的资金,但是目前其实他还是天哥组合的主力之一,只是不足以冲进30大股东了。。</p></div><p>而虽然RCECAP这个季度的业绩没有特别好,但是天哥认为其实也不差的,只是不过不失,没有惊喜而已,而今年预计也是RCECAP修养升息的一年,毕竟随着升息潮开始,其实对RCECAP来说,可能不是什么太好的消息,对他的生意是有点影响的,因为他是借钱回来再转借给人的一种生意,所以按理说,升息会提升他保持成长的难度,所以趁这个时候休息下或许也是好的,不过其实也不怕的,因为按照预测,其实他股息还是蛮稳定的,接下来预计派息还是能保持4sen一股,一年派2次的话,也有大概5%,其实还算蛮不错的,虽然短暂很难成长了,但是凭着RCECAP管理层的优秀,天哥认为过了这一段后,他还是可以再次回到成长的空间的,就当收着股息等咯,反正股息也还可以的。。</p><p>就好比当初天哥说的,有时候投资也未必很复杂,快的有快的玩法,慢的也有慢的玩法,虽然RCECAP在天哥当初买的时候1.26(分拆前1.26,也就是现在价格的63sen)觉得他低估,到现在其实也不算高估,但是他这样一步一脚印的龟速前进,短短几年内已经帮天哥翻了接近2倍,也收了这几年的股息,慢慢来也不见得比较慢,其实股票要赚钱,并没有想象的那么困难呢,只不过很多人都以为一定要选一些风险高的才能快速致富罢了。不过如果目前的价位来说,天哥觉得RCECAP的价位跟他的财报一样,不怎么高也不怎么低,就在中间吧,天哥就继续耐心的每次受到股息就继续累积就好了,除非有暴跌,才重新回到公司的三十大吧。。</p><p>好像天哥常说的,股票赚钱不是买或卖,而是等,在耐心等到对的价格买入优质股后,就一直耐心等待,持续观察财报是否有进步,然后每次收到股息就拿来再投资,其实财富就会慢慢一步一脚印成长了,不需要过份复杂化,只是在这么投机性的环境,我们是否有这个耐性和毅力,不被其他人影响,坚持自己的慢慢致富之路而已,这个对白也说了很多次了,只不过真正领悟的人,恐怕没有很多,其实天哥觉得非常可惜,为何做了那么久分享,还是有读者无法领悟低价才是累积优质资产的好时机而已。。</p><p>不过就算了,做好自己吧,每个人有自己的造化,何必强求呢,股票市场本来就是一个7亏2平1赢的地方,只要我们的投资策略,能够让我们长期获利的,那么怎么做又何妨呢。。</p><div><br /><div><p>好啦,今天的时间又差不多啦,如果这篇内容对你有多多少少一点帮助的话,记得点个赞啦,我们下一篇见咯。。</p><div><div><p><span data-darkreader-inline-color="">你的一个小小的like或share,是对天哥的最佳鼓励和动力哦^。^</span></p></div><div>https://windscopo2.blogspot.com/2022/08/5-rcecap9296-2023-q1.html</div></div></div></div></div></div>
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Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-55694755466584245402022-03-16T18:40:00.001+08:002022-03-16T18:40:15.334+08:005得主月底揭盅 分析员:数字银行如双刃剑<p>5得主月底揭盅 分析员:数字银行如双刃剑<br /><br />(吉隆坡15日讯)国家银行将在本月底公布5张数字银行执照归属,艾芬黄氏研究相信新业者进驻可能对国内金融服务领域带来重大改变,但相信数字银行恐难在短期内获利,有“口袋”相对较深的金融集团支撑,或与服务不足市场有关系的伙伴撑腰的联营公司出线几率更高。<br />短期干扰长期创造价值<br /><br />国行将在本月30日发布《2021年报》和《金融稳定评估报告》之际,同时宣布数字银行赢家名单,艾芬黄氏研究表示,数字银行进入金融业生态系统是一把双刃剑,短期将对领域带来干扰,但长期却将创造价值。<br /><br />“数字银行的破坏式模式允许其以低成本大量吸收客户,同时解决传统银行未能满足的需求缺口,特别是消费者和微中小型金融环节。同时,数字银行也将透过利用谷歌和社交媒体等大型科技平台信息,甚至是自家平台的用户活动数据,从而为客户量身定制新产品和服务,甚至是定价。”<br /><br />大马金融科技新闻网(Fintech News Malaysia)指出,国行期待的数字银行申请者具备产品供应专家、生态系统参与者和创新基本银行概念供应商等特质。<br />国行接获29申请<br /><br />目前,国行已接获29件数字银行执照申请,其中可能包括Grab和新加坡电信(Singtel)组成的财团、兴业银行(RHBBANK,1066,主板金融服务组)与亚通(AXIATA,6888,主板电讯媒体组)合组财团、永旺信贷(AEONCR,5139,主板金融服务组)、杨忠礼机构(YTL,4667,主板公用事业组)和虾皮购物母公司冬海集团(SeaGroup)、CAPITAL A公司(CAPITALA,5099,主板消费产品服务组)旗下BigPay资本领头的财团,以及腾讯-双威(SUNWAY,5211,主板工业产品服务组)和盘谷银行合组财团等。<br /><br />艾芬黄氏研究指出,与部分数字银行执照申请人进行的调查显示,联营企业倾向利用彼此在金融/银行业或作为科技供应商的优势,同时在生态系统中拥有深厚的客户和商户基础。<br /><br />“透过持有数字银行执照不仅将使这些参与者能够在国内借贷市场中占有一席之地,也可透过电子钱包交易和销售人寿/医疗保险计划,以及投资产品来赚取收入的替代渠道。”<br /><br />该行说,随着用户利用信用卡、扣账卡(debit card)和电子货币转向电子支付,加上Lazada、虾皮和Atome等电商巨头推介“先买后付”(Buy Now,Pay Later)服务,国内金融生态系统已出现巨大变化,许多非传统银行业者也开始抢攻金融市场潜存的收费收入机会。<br />流动银行渗透率显着增长<br /><br />“此外,疫情的爆发也加速支付数字化趋势,流动银行渗透率在2020年开始显着增长,交易值年增125%至4590亿令吉,而2021年更进一步增长74.3%至8000亿令吉,但自动提款机的现金提款和转账却呈现跌势。”<br /><br />艾芬黄氏研究认为,新业者进驻无疑会透过推介更客制化产品服务、低转换成本、简易使用和无缝线上客户体验等方式来挑战现有银行,而应用编程接口(API)的使用也允许数字银行将其产品整合入第三方服务,以及数字生态系统应用之内。<br /><br />“这将使得数字银行通过处理大数据来应对不断变化的客户行为,并通过识别适合每个人的服务、支付和产品/解决方案来兑现价值,可以帮助银行降低成本和优化服务。”<br />国行设限 首5年盈利料不大<br /><br />不过,艾芬黄氏研究指出,大马数字银行的成长和扩张却面对国行设下的诸多限制所抑制,其中包括数字银行执照持有者需在3至5年的成立阶段以30亿令吉的资产上限运作,以及营运第五年需达到至少3亿令吉资本基金等,预期数字银行执照持有者首5年的盈利将不会太过显著。<br /><br />“以首5年净利息赚益(NIM)2.5%、净信贷成本50个基点、介于10至20%的低成本收入比,以及每年创造4亿至7亿令吉新贷的情况下,我们预测在最乐观的情况下,数字银行执照持有者将在营运的第二年获得盈利。”<br />料由“口袋”较深金融集团支撑<br /><br />该行补充,在数字银行资本基金少于1亿令吉门槛的情况下,联营伙伴可能需要挹注额外资金,但这料不会对联营伙伴的盈利带来重大影响,主要是部分联营伙伴为马股上市公司。<br /><br />“我们相信数字银行业务对他们短期的金融曝险并不大。除非有必要为数字银行注入显著资金,或相关业务亏损高于预期,届时这些上市公司的财务报表或估值才会出现更显著的负面冲击。”<br /><br />艾芬黄氏研究以香港众安银行(Z ABank)、天星银行、汇立银行(Welab Bank)等数字银行在营运3年后仍未获利的情况来看,相信潜在得标者将是由金融集团支撑,“口袋”相对较深,或与服务不足市场有关系的联营公司。<br /><br />“我们相信兴业银行、永旺信贷、RCE资本(RCECAP,9296,主板金融服务组)、大马合作社组织(ANGKASA)和Grab将是潜在赢家。”<br />银行业维持“加码”评级<br /><br />整体来看,艾芬黄氏研究维持银行业“加码”评级,并建议投资者持续布局主流银行,主要是小型金融科技公司缺乏财政记录,盈利前景也潜存风险,没有足够的吸引力。<br /><br />“在贷款增长和更多商家全速运转下,经济广泛复苏的迹象越发明显。虽然银行业将持续面对不明朗和挑战,但银行业稳健的资本率和充足的资金,将可持续为经济带来扶持。我们预测银行业2022至2024年核心净利将扩张4.5至14%,主要由基金相关收入增长和低拨备驱动。”<br /><br />此外,国内银行在去年第四季采取先发制人措施,拨备达102亿令吉,加上需要还款援助的贷款比例降至总系统的15%,艾芬黄氏研究认为一旦资产素质风险趋缓,多数拨备可在2023年回拨,其中以大马银行(AMBANK,1015,主板金融服务组)和安联银行(ABMB,2488,主板金融服务组)回拨对净利影响最大。<br /><br />“银行股仍具备重开主题、升息周期和潜在回拨等3大利多因素,马来亚银行(MAYBANK,1155,主板金融服务组)、大众银行(PBBANK,1295,主板金融服务组)、安联银行和联昌集团(CIMB,1023,主板金融服务组)为投资首选。”<br /><br />https://www.sinchew.com.my/20220315/5%E5%BE%97%E4%B8%BB%E6%9C%88%E5%BA%95%E6%8F%AD%E7%9B%85-%E5%88%86%E6%9E%90%E5%93%A1%EF%BC%9A%E6%95%B8%E5%AD%97%E9%8A%80%E8%A1%8C%E5%A6%82%E9%9B%99%E5%88%83%E5%8A%8D/<br /></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-20524572528215909192022-03-04T19:57:00.002+08:002022-03-04T19:57:14.841+08:005分钟看懂 RCECAP(9296) 2022年 Q3季报 ~ RCECAP开始没惊喜了吗?<p>
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<h1 class="reader-title">5分钟看懂 RCECAP(9296) 2022年 Q3季报 ~ RCECAP开始没惊喜了吗?</h1>
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<p> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s1600/RCECAP+LOGO.png"><img data-original-height="420" data-original-width="900" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s640/RCECAP+LOGO.png" width="640" /></a></p><p>由于全部天哥的公司一次过同一天出业绩,所以根本不懂要写谁更好了,所以只能随意挑选,也没管自己持股的大小,就是挑到谁就写谁了XD,而RCECAP这家投资额较大到连续几年挤入30大的公司应该要优先写的,不过他这个季度说真的,没有太大的惊喜,也没太多的特别,为啥这样说呢?等下你就知道了,我们一起来探讨下吧。。</p><h3 data-darkreader-inline-bgcolor="" data-darkreader-inline-color="">Quarterly rpt on consolidated results for the financial period ended 31 Dec 2021</h3><h3 data-darkreader-inline-bgcolor="" data-darkreader-inline-color=""><br data-darkreader-inline-color="" /><table data-darkreader-inline-color=""><tbody><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-bgimage="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">Financial Year End</td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">31 Mar 2022</td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-bgimage="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">Quarter</td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">3 Qtr</td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-bgimage="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">Quarterly report for the financial period ended</td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">31 Dec 2021</td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-bgimage="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">The figures</td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="">have not been audited<span data-darkreader-inline-color=""></span></td></tr></tbody></table></h3><h4 data-darkreader-inline-color="">Attachments</h4><h3 data-darkreader-inline-bgcolor="" data-darkreader-inline-color=""><div data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p>Currency: <span>Malaysian Ringgit (MYR)</span></p></div></h3><h4 data-darkreader-inline-color=""><span>SUMMARY OF KEY FINANCIAL INFORMATION</span><br /><span>31 Dec 2021</span></h4><h3 data-darkreader-inline-bgcolor="" data-darkreader-inline-color=""><div data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><table data-darkreader-inline-bgcolor="" data-darkreader-inline-bgimage="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><tbody><tr><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color="" rowspan="5"> </td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>INDIVIDUAL PERIOD</span></p></td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>CUMULATIVE PERIOD</span></p></td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>CURRENT YEAR QUARTER</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>PRECEDING YEAR<br />CORRESPONDING<br />QUARTER</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>CURRENT YEAR TO DATE</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>PRECEDING YEAR<br />CORRESPONDING<br />PERIOD</span></p></td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p>31 Dec 2021</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p>31 Dec 2020</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p>31 Dec 2021</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p>31 Dec 2020</p></td></tr><tr data-darkreader-inline-bgcolor=""></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>$$'000</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>$$'000</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>$$'000</span></p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>$$'000</span></p></td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>1</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Revenue</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>76,896</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>77,855</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>224,753</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>218,495</p></td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>2</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Profit/(loss) before tax</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>46,351</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>46,679</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>135,804</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>121,423</p></td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>3</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Profit/(loss) for the period</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>34,700</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>34,756</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>101,632</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>90,572</p></td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>4</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Profit/(loss) attributable to ordinary equity holders of the parent</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>34,700</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>34,756</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>101,632</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>90,572</p></td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>5</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Basic earnings/(loss) per share (Subunit)</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>9.50</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>9.72</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>27.97</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>25.52</p></td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>6</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Proposed/Declared dividend per share (Subunit)</span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>0.00</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>0.00</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>7.00</p></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>6.00</p></td></tr><tr data-darkreader-inline-bgcolor=""><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><br /></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><br /></td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>AS AT END OF CURRENT QUARTER</span></p></td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top="" data-darkreader-inline-color=""><p><span>AS AT PRECEDING FINANCIAL YEAR END</span></p></td></tr><tr><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>7<br /></span></td><td data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><span>Net assets per share attributable to ordinary equity holders of the parent ($$)</span></td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>2.3000</p></td><td colspan="2" data-darkreader-inline-bgcolor="" data-darkreader-inline-border-bottom="" data-darkreader-inline-border-left="" data-darkreader-inline-border-right="" data-darkreader-inline-border-top=""><p>2.1500</p></td></tr></tbody></table></div></h3><p>这个季度是RCECAP
2021财政年的第3个季度业绩,是不是好像我上面说的?没有什么惊喜,也没有什么惊吓,今年这几个季度都太稳定了,差不多可以确认一个季度的净利就是8-9sen了,有多就是bonus了,所以虽然今年还是保持着成长的一年,成长幅度看起来也好像还不错(累积三个季度数据),唯这些全部早都在预算中了,所以基本上就是没惊喜了。然后值得注意的是,不要看到股价才1.6左右,EPF有28sen你以为PE只有4-5倍很值得,主要是公司刚刚完成了企业活动而已,所以账目其实还没真正开始调整的,所以下个季度开始就会真正反映了,不过很简单的,所有数据除二就好了,没有太复杂的。。</p><div><p><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjlOh6EpxgaF_ArnabYgzBCZMtXNHwZLTJPj2eoXirP4hKMbEPtHewcf5pkfu6T6zv_S4iKLPKizQr0UtW3AQhhbx68QEkSqvqE1szYDrTVfgyaz0ZmUTo44q14WGEwXtTssJODFQd6OWnT_LPUEKUsYZ5mCEkTRhWlIW8IuoBU21XCxBoXsmNSIicF=s1464"><img data-original-height="1464" data-original-width="1128" height="400" src="https://blogger.googleusercontent.com/img/a/AVvXsEjlOh6EpxgaF_ArnabYgzBCZMtXNHwZLTJPj2eoXirP4hKMbEPtHewcf5pkfu6T6zv_S4iKLPKizQr0UtW3AQhhbx68QEkSqvqE1szYDrTVfgyaz0ZmUTo44q14WGEwXtTssJODFQd6OWnT_LPUEKUsYZ5mCEkTRhWlIW8IuoBU21XCxBoXsmNSIicF=w309-h400" width="309" /></a></p><p>这个是完整版的季报,这个季度的营业额其实跟去年同季持平的,然后我们看累计三个季度的营业额其实也是跟去年差不多,所以基本上今年的生意大概是在那边了,主要原因是之前有顾客赎回了部分的借贷,所以影响了其中一个极度的生意,而这个极度貌似已经又回来一些了,然后我们再看看他下面的生意净利,这个季度跟去年同季是持平的,但是累计三个季度的来说,就成长了个10%+了,其实算是这样了。。</p><div><div><p><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgvjvOYRwGFPsEaxVW7T2XGAp9W0YhEzDTkutsVqrPV8wXR61CV03NFWfz90xjvjEsUdH0H6FLj9vyCMtXW7DNaHBSdTIudZSXRsjQzSf3vBIBRzmKgLmi9uXrkmr7grHq9oK8nVSd9UO5uPy2OXBHct8Cr2lAx2hOdOaAei3IwNixGpiZd_LqpaV8A=s2013"><img data-original-height="772" data-original-width="2013" height="154" src="https://blogger.googleusercontent.com/img/a/AVvXsEgvjvOYRwGFPsEaxVW7T2XGAp9W0YhEzDTkutsVqrPV8wXR61CV03NFWfz90xjvjEsUdH0H6FLj9vyCMtXW7DNaHBSdTIudZSXRsjQzSf3vBIBRzmKgLmi9uXrkmr7grHq9oK8nVSd9UO5uPy2OXBHct8Cr2lAx2hOdOaAei3IwNixGpiZd_LqpaV8A=w400-h154" width="400" /></a></p><p>这个表就比较容易看得到,如果有注意的话,其实公司的生意或者净利虽然没有成长到非常快,但是这种一步一脚印慢慢成长的,反而时常会被市场给忽略,好像当初天哥买的时候,他股价才rm1.20,现在涨到3块多,都三倍了,然后又分拆回去1.x左右,接下来就看几时可以达到另一次的3块多了~。~</p><p><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgjx9MV6QlvLJxCN-jQrHw8JYqwgSvo7KR0WdHNn8KLxStcGog0H-1H3MoAwmkZWhNdcH6WpPRk-2GXgbHmzjjDY7C4mVv9gJXrtQpsPdrnFtnvCJwKSvKE-agVrvX5V4sNfGOyBAhAWxJGugNfHcVU8wSdd1wD70JVvJfpdO4luq7tw1yG7DAOW_MI=s1948"><img data-original-height="626" data-original-width="1948" height="129" src="https://blogger.googleusercontent.com/img/a/AVvXsEgjx9MV6QlvLJxCN-jQrHw8JYqwgSvo7KR0WdHNn8KLxStcGog0H-1H3MoAwmkZWhNdcH6WpPRk-2GXgbHmzjjDY7C4mVv9gJXrtQpsPdrnFtnvCJwKSvKE-agVrvX5V4sNfGOyBAhAWxJGugNfHcVU8wSdd1wD70JVvJfpdO4luq7tw1yG7DAOW_MI=w400-h129" width="400" /></a></p><p>公司在2015年重组完毕后,业绩就几乎每年稳健的成长着了,每年的业绩都是好像楼梯那样往上怕,这两年疫情年也在没有期望之下,继续创了新的记录,算是有惊喜,而且公司的nett
profit
margin居然还在上涨,今年单单3个季度的数据来看,已经达到去年的80多%了,所以基本上最后一个季度正常发挥的话,公司今年又会是一个成长率双位数的一年了。。</p><p><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiUce0PhtSVJlBWbePx6ijGOPKYWEnHD-L4iE_wWA5o8Ou1LNRTxZGd43EB36cXQwU8vB7tz5nWPVKUlfWIsjr-ph2dFd6NOxXe7S9FkfNE0ScsRPlt2xzJiJ9e6ikfrUu3tWoKwGOdP6c8XzDH-dqiHkXniVFjKtb4gll0POYgFEZUOrdmgP8KdBfZ=s1498"><img data-original-height="1498" data-original-width="1087" height="400" src="https://blogger.googleusercontent.com/img/a/AVvXsEiUce0PhtSVJlBWbePx6ijGOPKYWEnHD-L4iE_wWA5o8Ou1LNRTxZGd43EB36cXQwU8vB7tz5nWPVKUlfWIsjr-ph2dFd6NOxXe7S9FkfNE0ScsRPlt2xzJiJ9e6ikfrUu3tWoKwGOdP6c8XzDH-dqiHkXniVFjKtb4gll0POYgFEZUOrdmgP8KdBfZ=w290-h400" width="290" /></a></p><p>天哥为何喜欢借贷公司?就是因为当他们赚到了钱,就能把钱拿去再放贷,然后又赚到更多钱,继续放贷,如此类推就能够确保几乎保持着增长了,前提是放贷的钱没有变成呆账就好了,而公司的资产负债表来看,也跟天哥上面说的一样,公司的放贷是继续保持着增加的,而且现钱也增加了不少,但是债务只是小额的增加,那么整体来说,其实公司真的是管理的非常好了,跟天哥之前说的一致,稳定+成长+股息三个要点都做得到,算是非常不错了。。</p><p><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiQii3rRYKY_cxCTjkIYqwExnRi9H9CtS9T9tG_kSUuktrgz-uL6OPKkNWqvPowpygNdO19qRC3tU30wSDrT70pSoiHu8ZlSRWYHRhzKO2T2oZtUHi2rgFiJTWyLx9eGbEJjkJvj3DX2Z7rvFYEx7MaFghUij4GDTwe8Y6Z12hWg6JAe05Pn851stOj=s1080"><img data-original-height="370" data-original-width="1080" height="138" src="https://blogger.googleusercontent.com/img/a/AVvXsEiQii3rRYKY_cxCTjkIYqwExnRi9H9CtS9T9tG_kSUuktrgz-uL6OPKkNWqvPowpygNdO19qRC3tU30wSDrT70pSoiHu8ZlSRWYHRhzKO2T2oZtUHi2rgFiJTWyLx9eGbEJjkJvj3DX2Z7rvFYEx7MaFghUij4GDTwe8Y6Z12hWg6JAe05Pn851stOj=w400-h138" width="400" /></a></p><p>这个是管理层给与投资者的一些解释,他们并没有详细的讲解关于公司的业务,他们只是讲说疫情的关系,公司对于信贷风险这一块是由下狠功夫去确保公司没有遇到太大问题,然后也有做一些campaign来稳住公司的生意,而且公司打算数码化来带领公司接下来的业绩,算是好的方向,毕竟长远来说,必定要走向电子化或者数码化的。。</p><p><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjljUr29jyMX61NKepVmWhw7gSdcXrSuRajfmENO5kEqOFVEwF_3dFASOibskxCBRWQrs0Y6NXuDtcFCyMH8efL_20d14UonPie62QkLhONWrTUxaqRGtXx7nOeWTtIpaCjz9iOsJkfiHBV5VBRcCIgK5Lycu_vfR-L0KZi3kFjSn4x791uj_bc5xGs=s1066"><img data-original-height="573" data-original-width="1066" height="215" src="https://blogger.googleusercontent.com/img/a/AVvXsEjljUr29jyMX61NKepVmWhw7gSdcXrSuRajfmENO5kEqOFVEwF_3dFASOibskxCBRWQrs0Y6NXuDtcFCyMH8efL_20d14UonPie62QkLhONWrTUxaqRGtXx7nOeWTtIpaCjz9iOsJkfiHBV5VBRcCIgK5Lycu_vfR-L0KZi3kFjSn4x791uj_bc5xGs=w400-h215" width="400" /></a></p><p><span data-darkreader-inline-color=""><b>RCECAP(9296)</b></span><br /><span data-darkreader-inline-color=""><b>股价:RM1.66</b></span><br /><span data-darkreader-inline-color=""><b>PE:9.05+-</b></span><br /><span data-darkreader-inline-color=""><b>DY:4%</b></span><br /><span data-darkreader-inline-color=""><b>ROE:16.27%</b></span><br /><b><span data-darkreader-inline-color=""><br /></span></b>很多人把云顶跟天哥画上等号,其实RCECAP又何尝不是天哥组合里最大的投资之一呢?不过应该长期follow天哥的都已经知道了,这里就不多说。RCECAP打从他完成了企业活动后,整体股价的走势开始放缓了不少,但是这一切都是正常的,一般上红股完毕后,因为市场上的流通票变多了,变相也会影响到他的供求关系,这个是无可避免的了,其实以天哥的看法,目前他的价位虽然对比起当初天哥买的时候1.2左右(也就是分拆后的6毛钱+),好像高了不少,但是其实投资一家股票,最重要是他的业绩在未来是否还有增值空间而已,而成长来说,在大马的金融行业,其实是最不怕成长不了的,为何?因为大马几乎人人都想借钱,所以最重要公司管理得好,借出去的钱能够收回来,不然的话,金融行业要想不成长其实反而是难度。。</p></div><p>但是也不要太过乐观,以为天哥持股30大股东你就敢敢去买,天哥退出30大的时候,可未必会通知你的,所以不要人云亦云,要自己看看这家公司到底还有没有投资价值,而天哥之前分拆前股价有点吸引,所以是有减持了部分,也相信这一次应该很难挤入30大了,毕竟30大的难度每年都在提高的=。=,然后还有一点值得注意的是,如果大马真的开始升息的话,其实对他的成本不多不少会照成一些压力的,变相来说就会影响到他的净利,但是如果以他一贯的作风来说,相信不会很大的影响的,继续保持稳定的发展,然后稳定的股息,相信都不成问题的,如果我们本身没有太高要求,相信他接下来还是会不错的。。</p><p>就好比当初天哥说的,有时候投资也未必很复杂,快的有快的玩法,慢的也有慢的玩法,虽然RCECAP在当初买的时候觉得他低估,到现在也没觉得他高估过,但是他这样一步一脚印的龟速前进,短短2-3年内已经开了翻,而且看情况来说,接下来业绩也会最少继续成长多一个2-3年,抓紧自己的票,有低就累积一点,有高就套现一点,长期下来,财富还是会慢慢增值的,其实股票要赚钱,并没有想象的那么困难呢,好像天哥常说的,股票赚钱不是买或卖,而是等,在对的价格买入优质股后,就一直耐心等待,持续观察财报是否有进步,然后每次收到股息就拿来再投资,其实财富就会慢慢一步一脚印成长了,不需要过份复杂化,只是在这么投机性的环境,我们是否有这个耐性和毅力,不被其他人影响,坚持自己的慢慢致富之路而已,这个对白也说了很多次了,只不过真正领悟的人,恐怕没有很多,就好比天哥有一个基金顾客,看到最近行情又打仗又什么的开始下跌,就不敢再加额了,天哥觉得非常惋惜,不是因为那一百几十块的佣金,而是惋惜为何做了那么久分享,还是未能教育到大众,其实优质资产下跌时,才是较好的分批入场时间点而已.。</p><p>BTW算了,每个人都有自己的造化,一切都是上帝最好的安排,又何必强求呢?什么时候该做什么,就自己做决定吧,我们自己做好自己的投资,该做什么做什么,慢慢累积财富就好了,只要财富能够长期保持增长的,用什么方法又何妨呢。。</p><div><br /><div><div><div><p><span data-darkreader-inline-color="">你的一个小小的like或share,是对天哥的最佳鼓励和动力哦^。^</span></p></div><p>TELEGRAM频道:</p></div><div><p><span>~~~~~~~~ </span><span data-darkreader-inline-color=""><b>小小广告 </b></span><span>~~~~~~~~~~~~</span></p><div><div><p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiH4Xol0KbKB2ORsHTP4682ZMdbQuOu1V3c4hPI7ZjKjgetMpHZPyIrB4ZA00nzw3FIjKMue_S_g7PkWZOsFra2gxsK8j3mWXqmjNTxGH-OxcNCcDljrckWjAUFONB7QSILw8Ls/s1600/%25E7%25AC%25AC%25E4%25B8%2580%25E5%25A4%25A9+BOOK.jpg"><img data-original-height="760" data-original-width="1600" height="304" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiH4Xol0KbKB2ORsHTP4682ZMdbQuOu1V3c4hPI7ZjKjgetMpHZPyIrB4ZA00nzw3FIjKMue_S_g7PkWZOsFra2gxsK8j3mWXqmjNTxGH-OxcNCcDljrckWjAUFONB7QSILw8Ls/s640/%25E7%25AC%25AC%25E4%25B8%2580%25E5%25A4%25A9+BOOK.jpg" width="640" /></a></p><div><p><span data-darkreader-inline-color="">低薪族十年百万路+股市百科降熊秘籍=西马RM120 东马RM125(附送4个软件)</span></p></div></div><div><p><span data-darkreader-inline-color="">低薪族十年百万路+降熊秘籍+为什么买股票=西马170 东马175(附送4个软件)</span></p></div><div><p>低薪族投资手册 十年人生百万路+邮费共rm65(西马) RM70(东马)</p></div><div><p>股市百科 降熊秘籍+邮费共RM85(西马) RM90(东马)</p></div><div><p>你为什么一定要买股票+邮费共rm65(西马) RM70(东马)<br /><br />https://windscopo2.blogspot.com/2022/03/5-rcecap9296-2022-q3-rcecap.html<br /></p></div></div></div></div></div></div></div>
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Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-20990041435981627632022-02-16T18:44:00.002+08:002022-02-16T18:44:17.933+08:00RCE资本(RCECAP 9296), 2022<p> RCE资本(RCECAP 9296), 2022<br /><br /> RCE资本(RCECAP 9296),公司是一间从事金融借贷业务,主要借贷对象为政府公务员。公司业务每年都会平稳的成长,公司现今总借贷给公务员有大约17亿,而公司向外借贷也接近17亿,但公司有现金达6.48亿,所以还是可以被称为资金雄厚的公司。公司过去1年的盈利高达1.24亿税后盈利,或每股盈利35sen。公司每年在营收和盈利都有1-2%的成长,虽然贷款的数额大,不过坏账的比例相对的比银行低,这皆因其贷款对象是公务员,有稳定的收入。公司过去数年都得益于低利率环境,以致可以像外借贷低利率的款项,在转借给高利率的客户。今年是关键年,如果利率是陆续的上涨,那么公司可能会面对一些困扰,也许盈利会缩水,利率的差价会缩小,而且如果利率上涨过快,公司相信也会相对的提高借出的利率,到时候也可能导致公司出现一定程度的坏账。<br /><br />公司每年都会给出不错的股息,就以去年全年有13sen的股息计算周息率,都有7.38%,算是一只不错的高息股。<br /><br />要投资RCE资本,今年必须关注利率的变化!<br /><br />http://koonhoo.blogspot.com/2022/02/rcercecap-9296-2022.html<br /></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-13871632605998021392021-11-09T21:51:00.002+08:002021-12-09T18:33:05.148+08:00RCE资本(RCECAP,9296,主板金融股)次季派息7仙 20送1库存股·21送19红股<p><span></span></p><a name='more'></a>RCE资本(RCECAP,9296,主板金融股)次季派息7仙 20送1库存股·21送19红股<br /><br />(吉隆坡9日讯)RCE资本(RCECAP,9296,主板金融股)2022财年次季,净利按年下跌4.39%,至3154万5000令吉,但仍宣布派息每股7仙。<br /><br />截至9月杪的次季,营业额年跌8.03%至6982万2000令吉。<br /><br />该公司指,营收下跌归咎于6月的全面封锁,限制了业务活动,加上客户再融资活动减少,导致净利下滑。<br /><br />首半年营业额年起5.13%,至1亿4785万7000;净利则年增19.92%,至6693万2000令吉。<br /><br />展望未来,随着管制逐渐放宽,公司有更多销售活动,以吸引客户加入数字转型计划。<br /><br />公司谨慎监视投资组合的质量,预计本财年仍能保持盈利。<br /><br />至于每股7仙的股息,将于11月23日除权,12月6日派发。<br /><br />20送1库存股·21送19红股<br /><br />另外,RCE资本建议,按20送1的比例派送库存股,随后再按21送19的比例派送红股。<br /><br />该公司周二向大马交易所报备,倘若两个计划都完成,意味着每持有1股的投资者,可额外获得1股新股。<br /><br />该公司指,最多将派发1877万8370股库存股,及最多将派发3亿6025万1432股红股。<br /><br />按过去5天的每日交易量加权均价(VWAP)3.29令吉为参阅价,派发红股后,股价将调整至1.72令吉,总股数则增至7亿5842万4000股。<br /><br />该公司希望通过此次派股计划奖励股东,并提高股票流通性。<br /><br />如无意外,这两项计划将在明年首季完成。<br /><br />周二闭市时,RCE资本报3.79令吉,起5仙或1.3%,成交量60万1600股。<br /><br />http://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/rce%E8%B5%84%E6%9C%AC%E6%AC%A1%E5%AD%A3%E6%B4%BE%E6%81%AF7%E4%BB%99<br /><br /><p></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-35063850546005812932021-09-24T19:50:00.005+08:002021-09-24T19:50:44.178+08:00RCECAP (9296): RCE CAPITAL BHD 股东大会 23-9-2021 @ E-Broadcast <p><span></span></p><a name='more'></a><br /><p></p><h3 class="post-title entry-title" itemprop="name">RCECAP (9296): RCE CAPITAL BHD 股东大会 23-9-2021 @ E-Broadcast <br /></h3>
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<p> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s1600/RCECAP+LOGO.png" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="420" data-original-width="900" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s640/RCECAP+LOGO.png" width="640" /></a></p><p>又到了一年一度的RCECAP股东大会了,之前的股东大会都在一个非常舒服的俱乐部举办,但是今年就冤枉了,因为疫情的缘故,很多的股东大会都改成online进行,其实说真的online的股东大会我不太喜欢,因为那个感觉不存在,而且很容易迷魂的听到一半魂魄不懂飞去哪里了XD,不过碍于他是我的主力之一,暂时还勉强能挤入公司三十大,所以还是要去了解他的进度的,废话少说,我们还是说重点吧。。<span></span></p><a name="more"></a><span></span><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6m7DoSBg3sIVOY3yLhHj1SeMBtOWrUisHfo0unf_Qfgt4aCpJLbQUI2SiBZZMlMSzuYYYtbhmOi1caR3-NgE6pFHUSKWQaWkHRRoatAKHipILRdv5GBINlPhCmnlouVXooa4O/s1600/RCECAP+%25283%2529.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="1200" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6m7DoSBg3sIVOY3yLhHj1SeMBtOWrUisHfo0unf_Qfgt4aCpJLbQUI2SiBZZMlMSzuYYYtbhmOi1caR3-NgE6pFHUSKWQaWkHRRoatAKHipILRdv5GBINlPhCmnlouVXooa4O/w300-h400/RCECAP+%25283%2529.jpg" width="300" /></a></div><div class="separator" style="clear: both; text-align: center;">这个是以前参与股东大会前迷路拍的照片XD,看得出这个俱乐部非常舒服的。。</div><div class="separator" style="clear: both;"><span style="text-align: center;"><br /></span></div><div class="separator" style="clear: both;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0PJdds12iaPDy92cEqKtx-vfFc5MjOB_iK1nAsaSKsiEkAts1TQAhcBzZywBgnlpK5o2Vc1HhjzwZ9H5VMvu3Kb-cpaE0Ds2Orzhqo1GTV_ilWPZwrMmHjdUQ4KDz4RGq0IHd/s1917/RCE001.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1073" data-original-width="1917" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0PJdds12iaPDy92cEqKtx-vfFc5MjOB_iK1nAsaSKsiEkAts1TQAhcBzZywBgnlpK5o2Vc1HhjzwZ9H5VMvu3Kb-cpaE0Ds2Orzhqo1GTV_ilWPZwrMmHjdUQ4KDz4RGq0IHd/w400-h224/RCE001.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">一开始由这位非执行主席注册了会议</div></div><div class="separator" style="clear: both;"><span style="text-align: center;"><br /></span></div><div class="separator" style="clear: both;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9nVlXmw96hW3YR0XZd-4zuZKvtI1EYpYH_2pGMGDB4l_DCyB8zvCWNjbR4l-XJ8vCKM3JtwevbvGTdjnZDeWS07XCU18QbYXG3rG-iV0bmI79_OQwkeE-vfyIOGmfCYkRvzxy/s1913/RCE002.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1077" data-original-width="1913" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9nVlXmw96hW3YR0XZd-4zuZKvtI1EYpYH_2pGMGDB4l_DCyB8zvCWNjbR4l-XJ8vCKM3JtwevbvGTdjnZDeWS07XCU18QbYXG3rG-iV0bmI79_OQwkeE-vfyIOGmfCYkRvzxy/w400-h225/RCE002.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司营业额在这几年都稳定的成长中。。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhH-jy_cKExL_4uCHTH6KOGoLI9xuwl7pJ-iSi4H44y5sYURLmnunb5wKf6kgrIJyyXipducg5kQE1mxVTp59AWOg6SaQVs2SD4v75IvzasdxO7iKGPfkX70nP2rLhnef8gngJg/s1915/RCE003.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1075" data-original-width="1915" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhH-jy_cKExL_4uCHTH6KOGoLI9xuwl7pJ-iSi4H44y5sYURLmnunb5wKf6kgrIJyyXipducg5kQE1mxVTp59AWOg6SaQVs2SD4v75IvzasdxO7iKGPfkX70nP2rLhnef8gngJg/w400-h225/RCE003.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司的成本走势以稳定的走势进发,是好事来的,但是主要是OPR下跌的帮助。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhwI8iUXchuxTvt5nL97N5DF7ZCVisrUDulCzP026IY6wEeXHDkovbHQQW9ThAiwB27B4smXuzkxpjG3wTkDXBVwJwlmrf1cpyK6529l06At6tPgvAYNbEY5ISUP3eGqcUKIuXD/s1920/RCE004.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1076" data-original-width="1920" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhwI8iUXchuxTvt5nL97N5DF7ZCVisrUDulCzP026IY6wEeXHDkovbHQQW9ThAiwB27B4smXuzkxpjG3wTkDXBVwJwlmrf1cpyK6529l06At6tPgvAYNbEY5ISUP3eGqcUKIuXD/w400-h224/RCE004.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">员工成本有所走高,不过在可以接受的范围。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdafokC_CGJIT5LK01OKwx9kdPyW1qSGnf4-kmh1igggTZHAa3W3Hyd03JR7tfpoRHIDm0kTnGvqZY_PoFQHI0wHBrjD5jJ7haxpdaWdiXlLsjkpP_2Gpn0rOdsZWQ9rue7SD1/s1918/RCE005.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1076" data-original-width="1918" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdafokC_CGJIT5LK01OKwx9kdPyW1qSGnf4-kmh1igggTZHAa3W3Hyd03JR7tfpoRHIDm0kTnGvqZY_PoFQHI0wHBrjD5jJ7haxpdaWdiXlLsjkpP_2Gpn0rOdsZWQ9rue7SD1/w400-h225/RCE005.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">银行业的平均成本对回报是大概42.8%,但是公司的成本对收入只是22%,比银行来得都低,算是控制成本非常好的一家公司。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhgKUajvT6cu8BR9Rl2N_CVKJZPq9li0uijYJKZ1Ks6LnDiCYl149H3nmc8GJFQ6eGG-EgON6DiCcfH55Yo3T-4lcTFpIS3dm1FNkHhyphenhyphen96kHRFDMMonW0XVzYNjMTxAhoxBeZao/s1919/RCE006.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1073" data-original-width="1919" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhgKUajvT6cu8BR9Rl2N_CVKJZPq9li0uijYJKZ1Ks6LnDiCYl149H3nmc8GJFQ6eGG-EgON6DiCcfH55Yo3T-4lcTFpIS3dm1FNkHhyphenhyphen96kHRFDMMonW0XVzYNjMTxAhoxBeZao/w400-h224/RCE006.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司的loan loss coverage和预计的呆账率,说真的公司的预计呆账虽然是有下跌的,但是还真的有点高,这个是需要注意的,毕竟以银行业为例,比较正常的个人贷款一般上的呆账率都是介于5-6%而已,他做到6.7%,是有点高的。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhE87K_1NIg1WOJzOJilacNVBI_UM2jC1HcZkQWGcuK6aml6pZ7yspr1I9URcOmNoit6-N9g6vzKAjSjuNAIndz_BYr-NJkyAxTMTP-V8eEMXRLbl6TorMCS8ziCTFqGnO93xA1/s1919/RCE007.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1077" data-original-width="1919" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhE87K_1NIg1WOJzOJilacNVBI_UM2jC1HcZkQWGcuK6aml6pZ7yspr1I9URcOmNoit6-N9g6vzKAjSjuNAIndz_BYr-NJkyAxTMTP-V8eEMXRLbl6TorMCS8ziCTFqGnO93xA1/w400-h225/RCE007.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">这个不需要解释了吧,净利肯定是越高越好就对了XD,而公司的业绩做到像一条楼梯那样,其实是非常强的。。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCl0MmXaDVFVBml93L64Gi53XRcWCDkqReujYEW8VGvr6r9RZ7LQMqo69q2XKJDOEzcAadFG9wlNriwdhxEcXWGwbIjCE93waokYfIPBsMSqTRbPTizP2mf8HNt5g4R_TU8rWa/s1924/RCE008.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1074" data-original-width="1924" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCl0MmXaDVFVBml93L64Gi53XRcWCDkqReujYEW8VGvr6r9RZ7LQMqo69q2XKJDOEzcAadFG9wlNriwdhxEcXWGwbIjCE93waokYfIPBsMSqTRbPTizP2mf8HNt5g4R_TU8rWa/w400-h224/RCE008.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司的成长,无论是数目还是户口的数量,都有稳定的增长,是非常好的,唯最新一年的总户口数目是下降的,需要注意。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiOk3zafLa511ODvglxcx_uQuDeKeW-CuWUARF6rxpGNRs0x12kB4aFH-WkblKipK7vWk8JSdWOK0OXPamH-slSu80HZr4qBZ9ci1mCJPYaKD-GUARtE-0o43hbjSalu78vhllq/s1920/RCE009.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1078" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiOk3zafLa511ODvglxcx_uQuDeKeW-CuWUARF6rxpGNRs0x12kB4aFH-WkblKipK7vWk8JSdWOK0OXPamH-slSu80HZr4qBZ9ci1mCJPYaKD-GUARtE-0o43hbjSalu78vhllq/w400-h225/RCE009.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司的短期资产与负债的走势。。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh160FRXelbXhVGMQyuU-9DUh4WtL212eumOa6OfT1n7geYBWsJ6fmBkDh-tSFEnPvJv8sasD710CF4YpJqIQbtvNqCY9vbp4FZSUVOkFew-vo0NzKSEFoSj2_pSfucmiHDNzZY/s1919/RCE010.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1073" data-original-width="1919" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh160FRXelbXhVGMQyuU-9DUh4WtL212eumOa6OfT1n7geYBWsJ6fmBkDh-tSFEnPvJv8sasD710CF4YpJqIQbtvNqCY9vbp4FZSUVOkFew-vo0NzKSEFoSj2_pSfucmiHDNzZY/w400-h224/RCE010.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司资金来源比例分布图</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiZtHwv29JwRJjKp6shUE7uqDvC9TqFF45AF4_1L2pSw4YUH8v1vlir5r0gsGaY5YIOOJPihdNkDHj92H5q-bYAmvEl1CCI_oL-kmnh2xdym5B3-e3F1SF6WHyTvaTlKPX8odWS/s1917/RCE011.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1075" data-original-width="1917" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiZtHwv29JwRJjKp6shUE7uqDvC9TqFF45AF4_1L2pSw4YUH8v1vlir5r0gsGaY5YIOOJPihdNkDHj92H5q-bYAmvEl1CCI_oL-kmnh2xdym5B3-e3F1SF6WHyTvaTlKPX8odWS/w400-h224/RCE011.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司未来的资金来源,还有15亿左右,所以我相信未来3-5年的资金来源已经不是问题了,重点是生意有没有而已,而公司都说明要走素质,而不是数量了,相信这个已经够用一段很长的时间了。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi65Y8Xbcu9gtp0T7-baMD-25BT9sv-OTgo87RY8lSO1kVXo-OlJ5XEW3g1s73laCOrdjZKJFPmQQh5P3sRhyjWBlrnztT8u0GJOOSt6fp2gVqYjBwnzwxhdD029KkjfSo84Mh6/s1919/RCE012.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1079" data-original-width="1919" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi65Y8Xbcu9gtp0T7-baMD-25BT9sv-OTgo87RY8lSO1kVXo-OlJ5XEW3g1s73laCOrdjZKJFPmQQh5P3sRhyjWBlrnztT8u0GJOOSt6fp2gVqYjBwnzwxhdD029KkjfSo84Mh6/w400-h225/RCE012.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司资金来源的一些关键数据和需要支付的利息,都是往下的,所以成本能够越来越低。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKeYmaogo1OFYadHDSJfluf50NYg7NTPlOli9TavhIF0lJV6RHkJ5ta8W1oVuZ-xaSKD9TnpfNeM9qXqO3c33KRZiVCq25savQ6oi61V24Aq-SSROaQlzyvFC6aEBHRv5-_mHk/s1918/RCE014.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1078" data-original-width="1918" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKeYmaogo1OFYadHDSJfluf50NYg7NTPlOli9TavhIF0lJV6RHkJ5ta8W1oVuZ-xaSKD9TnpfNeM9qXqO3c33KRZiVCq25savQ6oi61V24Aq-SSROaQlzyvFC6aEBHRv5-_mHk/w400-h225/RCE014.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司的借贷比例有逐渐开始走低,是好的。不过管理层表示未来不会以降低太多作为目标,预计会大概维持在目前这个位置附近。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXgLzl7gbuCB0bg3hXvZ74IxztlIC8zsJkEiTbenyuxcCbcZDUUewVPIQILcYe9pl1fdL0wRs8c_RrMVxTSqwyhwvkXjJMWzzoAQJqrbcOwjHNasCoG6iy79meQx9iuyL4-Cjn/s1919/RCE015.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1077" data-original-width="1919" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXgLzl7gbuCB0bg3hXvZ74IxztlIC8zsJkEiTbenyuxcCbcZDUUewVPIQILcYe9pl1fdL0wRs8c_RrMVxTSqwyhwvkXjJMWzzoAQJqrbcOwjHNasCoG6iy79meQx9iuyL4-Cjn/w400-h225/RCE015.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">越多越好就对了,整体走势还是非常美。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoti_a99lgs922sPGNyuqscEk48ye5Uf1RuaQtHeKPc8Mg9ait_dPKPSgXC3-brSZ6wD6akXqIqQLaDwyuk2_dUqNFihrDugctg2QXfj97OXpHgtbYNOF7cGWaG9Bcz5drsSDG/s1917/RCE016.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1073" data-original-width="1917" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoti_a99lgs922sPGNyuqscEk48ye5Uf1RuaQtHeKPc8Mg9ait_dPKPSgXC3-brSZ6wD6akXqIqQLaDwyuk2_dUqNFihrDugctg2QXfj97OXpHgtbYNOF7cGWaG9Bcz5drsSDG/w400-h224/RCE016.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">这个是公司过去派发股息的记录,虽然说公司属于高股息股,但是公司的派法率其实不高的,所以如果公司要,股息有能力比现在高2-3倍,但是能派不代表要派,预计接下来公司股息的成长会暂时放缓吧,毕竟已经差不多到40%的尽头了。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhOVfvuxy5wo0t2H9GCzpoeCmki0xtNEQUFg3g7p1VY9eUXfl049ixeCv-8IUUHVD7aVysVPIuVN-HZJqoAl8PbpQYTAyDA-p_I3IwAOvbbilwGmLilr6nz_T_FpNoa-8XhgQ8F/s1920/RCE017.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhOVfvuxy5wo0t2H9GCzpoeCmki0xtNEQUFg3g7p1VY9eUXfl049ixeCv-8IUUHVD7aVysVPIuVN-HZJqoAl8PbpQYTAyDA-p_I3IwAOvbbilwGmLilr6nz_T_FpNoa-8XhgQ8F/w400-h225/RCE017.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司的一些重点,可以看到基本上所有的数据都是非常漂亮的在成长的。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhG_UHSdQjJIElSaZt5krw3DdF_Vv-p4cbXQjS33wwgBXHyfkcvp0FbyDFfj3qwHSx0wPasIz1hcGvlGyF6yIiw0wU5QrEbjD1VbU1K7_iR962B5lsXgmrr85X3XyQFPuTIfRgH/s1920/RCE018.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhG_UHSdQjJIElSaZt5krw3DdF_Vv-p4cbXQjS33wwgBXHyfkcvp0FbyDFfj3qwHSx0wPasIz1hcGvlGyF6yIiw0wU5QrEbjD1VbU1K7_iR962B5lsXgmrr85X3XyQFPuTIfRgH/w400-h225/RCE018.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">现在很讲究的ESG,公司是符合规格的,也是FTSE4GOOD的成员</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipZvAmDAI0dzCCzXStxaGqhoHy7LzhbI7RW-DbsL4Ro95ghq8nRklLFrNbRtXWwFDPzqifCZxd4S0FT6gsYhvmTcHxKXS44Q7HbsXhwckBBF9snQRiePYgMkqZHL9ZstX0FMDB/s1920/RCE020.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipZvAmDAI0dzCCzXStxaGqhoHy7LzhbI7RW-DbsL4Ro95ghq8nRklLFrNbRtXWwFDPzqifCZxd4S0FT6gsYhvmTcHxKXS44Q7HbsXhwckBBF9snQRiePYgMkqZHL9ZstX0FMDB/w400-h225/RCE020.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司这些年的一些关键发展和股价的发展。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0jNwaEFZHdQoAprEvH5Xn_Rf94TL28ntPkxr7gs79xq1TEHUvHSNpFPenZ3Ebx_ZSxIVK7Y3Gn2kPP5DbQxHpJvu-FFFmtFSOA3EE1gGQ40zKPz9m3lwP3y-NeKoi5oOn0ws-/s1920/RCE021.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0jNwaEFZHdQoAprEvH5Xn_Rf94TL28ntPkxr7gs79xq1TEHUvHSNpFPenZ3Ebx_ZSxIVK7Y3Gn2kPP5DbQxHpJvu-FFFmtFSOA3EE1gGQ40zKPz9m3lwP3y-NeKoi5oOn0ws-/w400-h225/RCE021.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">目前大马贷款市场的情况</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4UArLTXkx_ZfkNTHZT8tdl4RTpWqOLzXCP5EE6BsATEDNjS-BGp1JyN2il4GMwu6lZnXMxbxsptevBe1L0FnRB-yURj4uqdsGpJzVi2_eEhkHz6yIXwZXyC6VEEmAqLBuCEmJ/s1920/RCE022.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4UArLTXkx_ZfkNTHZT8tdl4RTpWqOLzXCP5EE6BsATEDNjS-BGp1JyN2il4GMwu6lZnXMxbxsptevBe1L0FnRB-yURj4uqdsGpJzVi2_eEhkHz6yIXwZXyC6VEEmAqLBuCEmJ/w400-h225/RCE022.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司目前也向着shariah compliant方向出发。。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both;"><b><span style="color: #2b00fe;">过后就是由MSWG向管理层发问的一些重要问题和公司管理层的回应,大家都可以查看下。。</span></b></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyL2xFc9JoFUYuM1-tSs1u8qvOqQcJA4kEnk5YGvpqfu5vBESx9luBXLnmOtBq5f_NVVJyZ_bHnTrRw2CZrp3vSLpBZOrCYaQlYYp_jEZ0qMQRjVe-woTXkcUrCPO9TPKPUPHR/s1920/RCE023.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyL2xFc9JoFUYuM1-tSs1u8qvOqQcJA4kEnk5YGvpqfu5vBESx9luBXLnmOtBq5f_NVVJyZ_bHnTrRw2CZrp3vSLpBZOrCYaQlYYp_jEZ0qMQRjVe-woTXkcUrCPO9TPKPUPHR/w400-h225/RCE023.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipUT31PyeGi8NZD1GCAgY4_9C7oJwLiACDYqUlj8jR2FCjLQJL-qJL9jlS8wLBXGcOjuJHRslDbnpgNrcVVU4BbyC6hbwI5oIPLzyrd9vMt_2gG4WhYjlVhOX_brulJYZOu-d8/s1920/RCE024.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipUT31PyeGi8NZD1GCAgY4_9C7oJwLiACDYqUlj8jR2FCjLQJL-qJL9jlS8wLBXGcOjuJHRslDbnpgNrcVVU4BbyC6hbwI5oIPLzyrd9vMt_2gG4WhYjlVhOX_brulJYZOu-d8/w400-h225/RCE024.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1AA5LKXcjYyCqOLFi12_z9kqldM8_7BhGX-gwHLsjJx5awC9lQfkatkoKVB1SbsHtaKeJ93BAbsmo0WKvo-Mt6gMZjxaKH5EE5BjBSGqBmDIPh_fOrxQVDLnYWCkl376gJqAk/s1920/RCE025.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1AA5LKXcjYyCqOLFi12_z9kqldM8_7BhGX-gwHLsjJx5awC9lQfkatkoKVB1SbsHtaKeJ93BAbsmo0WKvo-Mt6gMZjxaKH5EE5BjBSGqBmDIPh_fOrxQVDLnYWCkl376gJqAk/w400-h225/RCE025.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEie-Y9Fv5i27cizaCfEhmlCL4xEs_OmYlml3X7sL3IU-SbtVEpgXln-IYVcpdQDLJHJE4fB2EzGg3bV5ENr9YtfWPEivbnVA0xk7PTd9Gad6xFsEaTN2lCI2drtIAwxDxVdDbBU/s1920/RCE026.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEie-Y9Fv5i27cizaCfEhmlCL4xEs_OmYlml3X7sL3IU-SbtVEpgXln-IYVcpdQDLJHJE4fB2EzGg3bV5ENr9YtfWPEivbnVA0xk7PTd9Gad6xFsEaTN2lCI2drtIAwxDxVdDbBU/w400-h225/RCE026.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNNKvXyTsU7MEpLeNmKOtycicJujM0QEml8N5N5qNI6ZDCkprrFh1WSITjYj8gSRrHawEdA-bogNZBshLZKBT5LAbtGyPoBVpGC-CvQJmKDn0RiBV3LTh1LaMC245-N7C1iLXR/s1920/RCE027.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNNKvXyTsU7MEpLeNmKOtycicJujM0QEml8N5N5qNI6ZDCkprrFh1WSITjYj8gSRrHawEdA-bogNZBshLZKBT5LAbtGyPoBVpGC-CvQJmKDn0RiBV3LTh1LaMC245-N7C1iLXR/w400-h225/RCE027.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpu25LSr_lcMCGt9AhqkyMmlUIUEy1nvldleRk4g42iyUNIx9IimHAlJTki63C9b4ONzKasovmlkOWNwQZUhdco6YC9U_9KI3pvC7hHNGmPApbX793qAakYlrIHsD6IJY6jY6B/s1920/RCE028.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpu25LSr_lcMCGt9AhqkyMmlUIUEy1nvldleRk4g42iyUNIx9IimHAlJTki63C9b4ONzKasovmlkOWNwQZUhdco6YC9U_9KI3pvC7hHNGmPApbX793qAakYlrIHsD6IJY6jY6B/w400-h225/RCE028.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaAqwdptbyiY2ViV3oNiVYDm-c3qBNLbJ35kwNEzzbzyR65VngDXWAtc1cI9ukAB_tG_L2oDvm0wqgaAtk9SIZp7yYR1w1jsnKCumvzVI8CzxseBnWQy5gwJ2rW6Gcnk1PDedq/s1920/RCE029.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaAqwdptbyiY2ViV3oNiVYDm-c3qBNLbJ35kwNEzzbzyR65VngDXWAtc1cI9ukAB_tG_L2oDvm0wqgaAtk9SIZp7yYR1w1jsnKCumvzVI8CzxseBnWQy5gwJ2rW6Gcnk1PDedq/w400-h225/RCE029.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div></div><span style="color: blue; font-size: x-large;"><b>今天股东大会的重点如下。。</b></span><br /><div><div><span style="color: magenta;">疫情时期公司依然保持着营业额成长,主因是公司控制好成本,加上顾客重新调涨借贷组合所致。公司目前跟之前一样,会专注在优质贷款作为出发点。</span></div><div><span style="color: magenta;"><br /></span></div><div><span style="color: magenta;">公司不是essential的领域,所以mco对公司是有少许的影响,不过公司是开始走电子化,也尽量做到跟没lock down一样的状况。</span></div><div><span style="color: magenta;"><br /></span></div><div><span style="color: magenta;">公司目前也准备好了shariah的条件,在等待着11月sc review公司能否成为符合shariah条例的公司。</span></div><div><span style="color: magenta;"><br /></span></div><div><span style="color: magenta;">rcecap是非银行的金融机构,所以公司无需提供任何moratorium,不过如果顾客真的有需要,只要提供足够的资料,公司还是会提供贷款援助。</span></div><div><span style="color: magenta;"><br /></span></div><div><span style="color: magenta;">当未来opr提升的时候是否会影响公司净利,管理层没有太直接回答,只是表示公司会调整产品的价格,来维持公司的赚幅。</span></div><div><span style="color: magenta;"><br /></span></div><div><span style="color: magenta;">公司的竞争能力不是以rate出发,反而是以更快获得资金出发。</span></div><div><span style="color: magenta;"><br /></span></div><div><span style="color: magenta;">公司因为一次性还款得到更好的净利,对未来是会有少许影响,不过部分也是因为贷款重组,所以预计业绩还是能大概保持当下的趋势。</span></div><div><span style="color: magenta;"><br /></span></div><div><span style="color: magenta;">公司明年会继续观察看看疫情的影响,从而选择是否举行virtual meeting。</span></div><div><span style="color: magenta;"><br /></span></div><div><span style="color: magenta;">公司暂时也没有任何红股的计划,如果有,会直接在bursa里面做公告。</span></div><div><span style="color: magenta;"><br /></span></div><div><span style="color: magenta;">公司未来的目标依然是把贷款素质提高,专注公司的贷款素质为主,也会渐渐的电子化出发。</span></div><div><span style="color: magenta;"><br /></span></div><div><span style="color: magenta;">公司目前的treasure share是大概22million。不过公司暂时没有任何计划会对这些股做任何操作。</span></div></div><div><br /></div>总的来说,从这次股东大会得到的资讯,我对公司的未来依然保持正面的看法,而公司的一些经济数据来看,其实目前虽然没有太低估,但是PE,DY和ROE等也处于合理位置,重点是他的这个dividend其实只派发了净利的37%左右而已,所以派息和成长并驾齐驱,如果未来成熟了,调高股息政策,那么久会更粗了,但是这个就只有慢慢等了,公司目前还在成长阶段,所以能够派出这样的股息,我个人已经非常满意了,不然我也不会买到进30大股东。但是看起来,公司的成长可能会在未来开始放缓,毕竟接下来如果经济稳定后,整个大环境会开始升息,那么对他的成长是有一定的压力的,所以应该要暂时休息下来额。<div><br /></div><div>而目前公司最大的问题是股价太稳太闷,一直都被人说成是老人股,结果股价乌龟这样爬下爬下已经爬到这个阶段了,虽然比上不足,但是对于可以安心睡觉的股来说,天哥是非常满意了,对我这种喜欢稳定的人来说,确实是天作之合,希望他接下来能够继续保持着成长,那么我的身家也会跟着慢慢来比较快的继续稳健增长咯,有时候投资不需要太复杂的,简简单单走着去,我们会不知不觉看到,原来已经走到那么远了,一起加油咯:)</div><div class="separator" style="clear: both;"><br /></div><div style="font-family: "Times New Roman";"><div style="font-family: "times new roman";"><div style="margin: 0px;"><div><div style="margin: 0px;"><span style="color: blue;">你的一个小小的like或share,是对天哥的最佳鼓励和动力哦^。^</span></div></div><div><div style="margin: 0px;">HAPPY INVESTING</div></div><div><div style="margin: 0px;">BY ~ 第一天</div><div style="margin: 0px;">部落格:</div><div style="margin: 0px;"><a href="https://windscopo2.blogspot.com/">https://windscopo2.blogspot.com</a></div><div style="margin: 0px;">面子书专页:</div></div><div><div style="margin: 0px;"><a href="https://www.facebook.com/%E7%AC%AC%E4%B8%80%E5%A4%A9%E6%8A%95%E8%B5%84%E7%90%86%E8%B4%A2%E6%97%A5%E8%AE%B0-427876764024658/?">https://www.facebook.com/第一天投资理财日记-427876764024658/?</a></div><div style="margin: 0px;">面子书群组:</div><div style="margin: 0px;"><a href="https://www.facebook.com/groups/1399899867001472/">https://www.facebook.com/groups/1399899867001472/</a></div></div><div style="margin: 0px;">TELEGRAM频道:</div><div style="margin: 0px;"><a href="https://t.me/windscopo">https://t.me/windscopo</a></div></div></div></div><p><br />https://windscopo2.blogspot.com/2021/09/rcecap-23-9-2021-e-broadcast.html</p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-63002416482085046272021-05-27T20:31:00.006+08:002021-05-27T20:31:47.935+08:005分钟看懂 RCECAP(9296) 2021年 Q4季报 ~ 有如预期般的好业绩 <p><span></span></p><a name='more'></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s1600/RCECAP+LOGO.png" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="420" data-original-width="900" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s640/RCECAP+LOGO.png" width="640" /></a><p></p><div class="separator" style="clear: both;">很多人可能不知道,RCECAP算是我的福将之一,记得对上几次出业绩的时候,都正好是天哥手中复苏股大涨的日子,这次的RCE当然也一样,如果说是巧合的话,也真的很巧了。。,不过股价也只是浮云,天哥还是喜欢以入股公司做股东的心态出发,最重要公司持续赚大钱,那么天哥自然也是可以赚的,所以业绩才是关键,而RCECAP作为天哥主力之一,也勉强挤入公司30大股东好几年了,不知道今年还能不能挤入呢?好了,我们还是入正题谈谈公司的业绩吧。。</div><div class="separator" style="clear: both;"><span><a name="more"></a></span></div><h3 style="background-color: white; color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: 400; line-height: 20px; margin: 12px 0px;">Quarterly rpt on consolidated results for the financial period ended 31 Mar 2021</h3><h3 style="background-color: white; color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: 400; line-height: 20px; margin: 12px 0px;"><table><tbody><tr><td class="company_name" style="font-size: 14px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px;">RCE CAPITAL BERHAD</td></tr></tbody></table><br style="color: #464646; font-size: 12px;" /><table border="0" cellpadding="0" cellspacing="0" class="formContentTable" style="width: 100%px;"><tbody><tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px; vertical-align: top; width: 194px;" width="31%">Financial Year End</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 368px;" width="69%">31 Mar 2021</td></tr><tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px; vertical-align: top; width: 194px;" width="31%">Quarter</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 368px;" width="69%">4 Qtr</td></tr><tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px; vertical-align: top; width: 194px;" width="31%">Quarterly report for the financial period ended</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 368px;" width="69%">31 Mar 2021</td></tr><tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px; vertical-align: top; width: 194px;" width="31%">The figures</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 368px;" width="69%">have not been audited<span style="color: navy;"></span></td></tr></tbody></table><table border="0" cellpadding="0" cellspacing="0" class="att_table" style="border-color: rgb(223, 223, 223); border-style: solid; border-width: 1px; margin: 12px 0px; padding: 0px 12px; width: 100%px;"></table></h3><h4 style="color: #003f6d; font-size: 13px; margin: 12px 0px;">Attachments</h4><h3 style="background-color: white; color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: 400; line-height: 20px; margin: 12px 0px;"><table border="0" cellpadding="0" cellspacing="0" class="att_table" style="border-color: rgb(223, 223, 223); border-style: solid; border-width: 1px; margin: 12px 0px; padding: 0px 12px; width: 100%px;"><tbody><tr valign="top"><td style="font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px;" width="100%"><div class="attachment fixed" style="border-color: rgb(223, 223, 223); margin: 12px 0px; min-height: 1%; padding: 0px 12px;"><p class="att_download_pdf" style="background: url("/FileAccess/images/ven_icon_pdf.png") left top no-repeat; border-color: rgb(223, 223, 223); border-style: none; border-width: 1px; float: left; margin: 0px 5px 12px 0px; padding: 0px 12px 0px 35px;"><a href="https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=214152&name=EA_FR_ATTACHMENTS" style="color: #1c56fa; text-decoration-line: none;">Qtr Ann - 31 03 2021.pdf</a><br /><span class="FootNote" style="color: dimgrey; font-family: Arial; font-size: 11px; font-stretch: normal; font-style: italic; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 11px;">329.7 kB</span></p></div></td></tr></tbody></table><div class="tabSection" style="border-color: rgb(223, 223, 223); color: #464646; font-size: 12px; margin: 12px 0px; padding: 0px 12px;"><ul class="tabs ven_fixed" style="border-color: rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 0px 0px 1px 1px; font-weight: 700; list-style: none; margin: 0px; padding: 0px;"><li class="ven_selected" id="tabMenu1" style="background: -webkit-linear-gradient(top, rgb(233, 233, 233), rgb(246, 248, 248)); border-color: rgb(0, 63, 109) rgb(193, 193, 193) rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 3px 1px 0px 0px; color: #003f6d; cursor: pointer; float: left; padding: 6px 12px;">Default Currency</li><li id="tabMenu2" style="background: -webkit-linear-gradient(top, rgb(233, 233, 233), rgb(246, 248, 248)); border-color: rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 3px 1px 0px 0px; cursor: pointer; float: left; padding: 6px 12px;">Other Currency</li></ul><div id="Tab1"><p style="margin: 12px 0px;">Currency: <strong>Malaysian Ringgit (MYR)</strong></p><table border="0" cellpadding="0" cellspacing="0" style="width: 100%px;"></table></div></div></h3><h4 style="color: #003f6d; font-size: 13px; margin: 12px 0px;"><b>SUMMARY OF KEY FINANCIAL INFORMATION</b><br /><b>31 Mar 2021</b></h4><h3 style="background-color: white; color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: 400; line-height: 20px; margin: 12px 0px;"><div class="tabSection" style="border-color: rgb(223, 223, 223); color: #464646; font-size: 12px; margin: 12px 0px; padding: 0px 12px;"><table border="0" cellpadding="0" cellspacing="0" style="width: 100%px;"><tbody><tr valign="top"><td class="formTableHeader" style="border-color: rgb(247, 202, 143); border-style: none; border-width: 0px 0px 3px; font-family: Arial, Helvetica, "Sans Serif"; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; width: 0px;" width="100%"><br /></td></tr></tbody></table><table border="0" cellpadding="0" cellspacing="0" class="ven_table" style="border-collapse: collapse; border: 1px solid rgb(223, 223, 223); margin: auto; width: 100%px;"><tbody><tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" rowspan="5" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="21%"> </td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="43%"><div align="center"><b>INDIVIDUAL PERIOD</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="36%"><div align="center"><b>CUMULATIVE PERIOD</b></div></td></tr><tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="17%"><div align="center"><b>CURRENT YEAR QUARTER</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="26%"><div align="center"><b>PRECEDING YEAR<br />CORRESPONDING<br />QUARTER</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="25%"><div align="center"><b>CURRENT YEAR TO DATE</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="12%"><div align="center"><b>PRECEDING YEAR<br />CORRESPONDING<br />PERIOD</b></div></td></tr><tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="17%"><div align="center">31 Mar 2021</div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="26%"><div align="center">31 Mar 2020</div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="25%"><div align="center">31 Mar 2021</div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="12%"><div align="center">31 Mar 2020</div></td></tr><tr></tr><tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="17%"><div align="center"><b>$$'000</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="26%"><div align="center"><b>$$'000</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="25%"><div align="center"><b>$$'000</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="12%"><div align="center"><b>$$'000</b></div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>1</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Revenue</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">74,964</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">73,326</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">293,459</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">284,197</div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>2</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Profit/(loss) before tax</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">45,800</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">37,845</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">167,223</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">148,900</div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>3</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Profit/(loss) for the period</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">34,061</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">28,324</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">124,633</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">110,581</div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>4</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Profit/(loss) attributable to ordinary equity holders of the parent</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">34,061</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">28,324</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">124,633</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">110,581</div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>5</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Basic earnings/(loss) per share (Subunit)</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">9.50</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">8.08</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">35.03</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">31.83</div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>6</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Proposed/Declared dividend per share (Subunit)</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">7.00</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">6.00</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">13.00</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">11.00</div></td></tr><tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="2%"><br /></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="19%"><br /></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="43%"><div align="center"><b>AS AT END OF CURRENT QUARTER</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="36%"><div align="center"><b>AS AT PRECEDING FINANCIAL YEAR END</b></div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>7<br /></b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Net assets per share attributable to ordinary equity holders of the parent ($$)</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" colspan="2" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="43%"><div align="right">2.1500</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" colspan="2" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="36%"><div align="right">1.9200</div><div><br /></div></td></tr></tbody></table></div></h3>这个季度是RCECAP
2021财政年的第4个季度业绩,本来今年我也因为疫情关系,对他没有抱有什么期待,而且第一季也出现了很多的拨备,影响了业绩,但是第二第三季反而奋起直追,业绩也追回上来,而作为最后一个季度,也交出了完美的结尾,所以全年依然双位数成长了10%,在疫情底下这种成绩算是没得弹的了,而且也如预期般增加了股息的派发,从之前的每半年6sen增加到目前的每半年7sen,继续保持着股息率,综合所有的数据来看,我个人是满意的。<div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3n0Jy2MFaQfeILLIlaxkPd-ZpFAx9nIciMjgi9X2dMsksvAbB7gt14_s5ZdveskDWNnGhTi806kevNvFQwrLI3kcAEmJyzr0L1D46EOSZlA5Cwopm55tToM253aCVKiYzBGDu/s754/RCECAP+001.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="505" data-original-width="754" height="268" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3n0Jy2MFaQfeILLIlaxkPd-ZpFAx9nIciMjgi9X2dMsksvAbB7gt14_s5ZdveskDWNnGhTi806kevNvFQwrLI3kcAEmJyzr0L1D46EOSZlA5Cwopm55tToM253aCVKiYzBGDu/w400-h268/RCECAP+001.JPG" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">除了去年3月MCO直接关完的那个季度,其实可以看到RCECAP这些年几乎每个季度都是保持着稳健增长的。基本上如果接下来几年整体行情没有太差的话,那么他的成长都会继续保持着增长就是了,没有太多变数。。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEip_Ws2esdFtfLCwfYIilNIA41dqMzC-WRwg8Zj78aSlm4bOoOPNDhd-Et0pq91KnFQjyRPPQISb0h1zIZUDthjphC2IU23WSx4NRCsoZ7EQcyVaqDP6s_ZpXC20heC_gutId3u/s749/image_2021-05-27_001402.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="469" data-original-width="749" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEip_Ws2esdFtfLCwfYIilNIA41dqMzC-WRwg8Zj78aSlm4bOoOPNDhd-Et0pq91KnFQjyRPPQISb0h1zIZUDthjphC2IU23WSx4NRCsoZ7EQcyVaqDP6s_ZpXC20heC_gutId3u/s320/image_2021-05-27_001402.png" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;">公司在2015年重组完毕后,业绩就几乎每年稳健的成长着了,每年的业绩都是好像楼梯那样往上怕,进年也在没有期望底下,继续创了新的记录,算是有惊喜咯,而且公司的nett profit margin非常高居然接近40%,我只能说这家公司真的是非常好赚了。。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjctkdSbpY-e81QShsyWPWzgmWWdwnE1TRJYbPp5wccQWh4yqRqkkuFr7xopf2zjVXrJmHb3HRIwwI4UHbkHh_iwZZKuKq9VTefbsVo5bY4PvYknrEvN6pRIJ17BgLANBx849ZX/s1216/RCECAP+003.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1216" data-original-width="871" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjctkdSbpY-e81QShsyWPWzgmWWdwnE1TRJYbPp5wccQWh4yqRqkkuFr7xopf2zjVXrJmHb3HRIwwI4UHbkHh_iwZZKuKq9VTefbsVo5bY4PvYknrEvN6pRIJ17BgLANBx849ZX/w400-h400/RCECAP+003.JPG" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">这个是完整版本的业绩,其实RCECAP的完整版跟简单版业绩不会差别很远,整体来说,无论是季度对季度还是全年对去年,整体业绩都是比较漂亮了,没得好弹了,全年每股净利大概是35sen左右,本益比也不到10,而且还能成长,好像曾经一篇天哥也说过,这只股价格如果还低于2块,我就真的不会了,当初说这句的时候,股价才1.7左右,现在都2.7了,虽然还是有低估空间,但是也没当初那么低估了。。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFOgGTdg1RJMrttS8vUceDSWQMDYx5CzZckzlhTC_2zllxibV3qXKBm9BrhslPKSgkVWjbK71HNJXbR9qwbbmfNJZ5mghc7IrgefP7DI3lCaLlesqOeRgHYvdjCTPGaUrJ5NiB/s1247/RCECAP+004.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1247" data-original-width="875" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFOgGTdg1RJMrttS8vUceDSWQMDYx5CzZckzlhTC_2zllxibV3qXKBm9BrhslPKSgkVWjbK71HNJXbR9qwbbmfNJZ5mghc7IrgefP7DI3lCaLlesqOeRgHYvdjCTPGaUrJ5NiB/w281-h400/RCECAP+004.JPG" width="281" /></a></div><div class="separator" style="clear: both; text-align: center;">资产负债表来看,公司的总借贷是增加的,而现钱是大概跟去年保持差不多,欠债也稍微减少的,所以整体来说,管理层是把公司管理的非常好了,符合稳定,成长和股息三个要点了。。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCu7dVwglk4WkMgaf-onx5HutEwbqRhd3NeLsKQPQT3aSo_uMLEuoQ5286HPA6xYkjU4mvdQvZbSaMPG-xuzZqNFbew-UzhuDmDVZfSHQlnXbBk0m0IyS23528ZzJAIAdVaUlZ/s850/image_2021-05-27_013327.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="389" data-original-width="850" height="183" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCu7dVwglk4WkMgaf-onx5HutEwbqRhd3NeLsKQPQT3aSo_uMLEuoQ5286HPA6xYkjU4mvdQvZbSaMPG-xuzZqNFbew-UzhuDmDVZfSHQlnXbBk0m0IyS23528ZzJAIAdVaUlZ/w400-h183/image_2021-05-27_013327.png" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">这个是管理层给与投资者的一些解释,他们并没有详细的讲解关于公司的业务,他们只是讲在疫情影响下,会尽量保护员工在疫情下的安全,而管理层也表示,如无意外的话,今年年也会继续赚钱,所以投资者们不用担心咯,不过可以感觉得出来,在疫情底下,公司要获得新的优质贷款,也是有一定的难度,所以管理层都很谨慎在进行,也会开始电子化转变。。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgE3Uhfn5vUyA3LnQLEJ7axKtOhocTptRGIfuogXlXZo1dojbfJY7FO0z5nqtfqemvbe1ij4ZaKIrIO-weOG9CpZujksRv_6vYb47Fh948D9ioIZQTNtHuKa09enWG8gC_-6hyg/s694/RCECAP+006.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="509" data-original-width="694" height="294" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgE3Uhfn5vUyA3LnQLEJ7axKtOhocTptRGIfuogXlXZo1dojbfJY7FO0z5nqtfqemvbe1ij4ZaKIrIO-weOG9CpZujksRv_6vYb47Fh948D9ioIZQTNtHuKa09enWG8gC_-6hyg/w400-h294/RCECAP+006.JPG" width="400" /></a></div><span style="color: blue;"><b>RCECAP(9296)</b></span><br /><span style="color: blue;"><b>股价:RM2.73</b></span><br /><span style="color: blue;"><b>PE:7.80+-</b></span><br /><span style="color: blue;"><b>DY:4.76%</b></span><br /><span style="color: blue;"><b>ROE:15.11%</b></span><br /><b><span style="color: blue;"><br /></span></b>很多人把云顶跟天哥画上等号,其实RCECAP又何尝不是天哥组合里最大的投资之一呢?记得2-3年前,股价才1.2左右,但是当时候是有票没人要呢,天哥就是1.26搜罗了那6-700k股,不知不觉现在股价已经一倍以上了,而每次收到股息也会追一点进去,逐步增加股数,也勉强总是维持在30大股东名单上,出现在RCECAP的ANNUAL
REPORT里XD。。</div><div><br /></div><div>随着疫情后,长期MCO导致很多人涌入股市,股市也变成了短期投机的一个小赌场,一些好消息就让一些股大涨,坏消息就让一些股大跌,这些稳稳做生意的股,很多人会觉得很慢,都看不上眼,不过天哥在股市也算是怪人来的,在任何时候,天哥都喜欢在股市里找寻一些严重低估的,然后股息率够高并且稳定的,加上业绩有持续的在进步的公司,买入并长期持有,除非他去到高估,或者业绩放缓,才会慢慢减持,否则就是一辈子不卖,虽然方法很傻,时常被人笑,但是最重要是长期下来能够累积财富,傻不傻,笑不笑又何妨呢。。</div><div><br /></div><div>其实股票要赚钱,并没有想象的那么困难呢,好像天哥常说的,股票赚钱不是买或卖,而是等,在对的价格买入优质股后,就一直耐心等待,持续观察财报是否有进步,然后每次收到股息就拿来再投资,其实财富就会慢慢一步一脚印成长的,只是在这么投机性的环境,我们是否有这个耐性和毅力,不被其他人影响,坚持自己的慢慢致富之路而已。。</div><br /><div><div style="margin: 0px;"><div style="font-family: "times new roman";"><div style="margin: 0px;"><span style="color: blue;">你的一个小小的like或share,是对天哥的最佳鼓励和动力哦^。^</span></div></div><div style="font-family: "times new roman";"><div style="margin: 0px;">HAPPY INVESTING</div></div><div style="font-family: "times new roman";"><div style="margin: 0px;">BY ~ 第一天</div><div style="margin: 0px;">部落格:</div><div style="margin: 0px;"><a href="https://windscopo2.blogspot.com/">https://windscopo2.blogspot.com</a></div><div style="margin: 0px;">面子书专页:</div></div><div><div style="font-family: "times new roman"; margin: 0px;"><a href="https://www.facebook.com/%E7%AC%AC%E4%B8%80%E5%A4%A9%E6%8A%95%E8%B5%84%E7%90%86%E8%B4%A2%E6%97%A5%E8%AE%B0-427876764024658/?">https://www.facebook.com/第一天投资理财日记-427876764024658/?</a></div><div style="font-family: "times new roman"; margin: 0px;">YOUTUBE 频道:</div><div style="margin: 0px;"><span style="font-family: times new roman;"><a href="https://www.youtube.com/channel/UCs-9Pau2S8XGANg_CZ0bWFQ">https://www.youtube.com/channel/UCs-9Pau2S8XGANg_CZ0bWFQ</a></span></div></div><div style="font-family: "times new roman"; margin: 0px;">TELEGRAM频道:</div><div style="font-family: "times new roman"; margin: 0px;"><a href="https://t.me/windscopo">https://t.me/windscopo</a><br /><br />https://windscopo2.blogspot.com/2021/05/5-rcecap9296-2021-q4.html<br /></div></div></div>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-46484517012826575872021-02-10T20:39:00.003+08:002021-02-10T20:39:59.746+08:005分钟看懂 RCECAP(9296) RCE资本 2021年 Q3季报 ~ 再次超越预期的业绩? ~ 第一天 <p><span></span></p><a name='more'></a><p></p><div class="margint30" id="blogcontent" itemprop="articleBody"> <p class="date-header">
2021年2月9日星期二 </p>
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RCECAP算是我的福将之一,记得对上一次出业绩的时候,正好是天哥手中复苏股大涨的日子,今天RCECAP出业绩,天哥手中的复苏股又正好在大涨,或许这个是巧合,但是总算也是我的福将了。不过还是一样,股价只是浮云,天哥还是以入股一家公司做出发点,所以还是业绩更为重要,而RCECAP作为天哥主力之一,还勉强挤入公司30大,业绩肯定要好好研究了,顺便就分享吧,不过之前可能得罪人被举报,所以面子书不可以再分享我的blog内容,也把我之前的文章全部删了=。=,不过还好我的blog里有存底,所以下次所有关于业绩分享的都会分享在我的telegram了,所以如果你喜欢看业绩的分享,记得要加入天哥的telegram
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Quarterly rpt on consolidated results for the financial period ended 31 Dec 2020</h3>
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RCE CAPITAL BERHAD</td>
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Financial Year End</td>
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31 Mar 2021</td>
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<td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom: 2px solid rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-left-style: solid; border-right-style: solid; border-right-width: 0px; border-top-style: solid; border-top-width: 0px; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px; vertical-align: top; width: 194px;" width="31%">
Quarter</td>
<td class="formContentData2" style="background-color: #f7f7f7; border-bottom: 2px solid rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-left-style: solid; border-right-style: solid; border-right-width: 0px; border-top-style: solid; border-top-width: 0px; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 368px;" width="69%">
3 Qtr</td>
</tr>
<tr valign="top">
<td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom: 2px solid rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-left-style: solid; border-right-style: solid; border-right-width: 0px; border-top-style: solid; border-top-width: 0px; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px; vertical-align: top; width: 194px;" width="31%">
Quarterly report for the financial period ended</td>
<td class="formContentData2" style="background-color: #f7f7f7; border-bottom: 2px solid rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-left-style: solid; border-right-style: solid; border-right-width: 0px; border-top-style: solid; border-top-width: 0px; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 368px;" width="69%">
31 Dec 2020</td>
</tr>
<tr valign="top">
<td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom: 2px solid rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-left-style: solid; border-right-style: solid; border-right-width: 0px; border-top-style: solid; border-top-width: 0px; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px; vertical-align: top; width: 194px;" width="31%">
The figures</td>
<td class="formContentData2" style="background-color: #f7f7f7; border-bottom: 2px solid rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-left-style: solid; border-right-style: solid; border-right-width: 0px; border-top-style: solid; border-top-width: 0px; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 368px;" width="69%">
have not been audited</td>
</tr>
</tbody>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="att_table" style="border-color: rgb(223, 223, 223); border-style: solid; margin: 12px 0px; padding: 0px 12px;">
</table>
<h4 style="color: #003f6d; font-size: 13px; margin: 12px 0px;">
Attachments</h4>
<h3 style="color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: normal; line-height: 20px; margin: 12px 0px;">
</h3>
<table border="0" cellpadding="0" cellspacing="0" class="att_table" style="border-color: rgb(223, 223, 223); border-style: solid; margin: 12px 0px; padding: 0px 12px;">
<tbody>
<tr valign="top">
<td style="font-stretch: normal; font-variant-numeric: normal; line-height: 16px;" width="100%">
<div class="attachment fixed" style="border-color: rgb(223, 223, 223); margin: 12px 0px; min-height: 1%; padding: 0px 12px;">
<p class="att_download_pdf" style="background: url("/FileAccess/images/ven_icon_pdf.png") left top no-repeat; border-color: rgb(223, 223, 223); border-style: none; border-width: 1px; float: left; margin: 0px 5px 12px 0px; padding: 0px 12px 0px 35px;">
<a href="https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=212701&name=EA_FR_ATTACHMENTS" rel="nofollow" style="color: #1c56fa; text-decoration-line: none;" target="_blank">Qtr Ann - 31 12 2020.pdf</a><br />
<span class="FootNote" style="color: dimgrey; font-family: Arial; font-size: 11px; font-stretch: normal; font-style: italic; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 11px;">320.9 kB</span></p>
</div>
</td>
</tr>
</tbody>
</table>
<div class="tabSection" style="border-color: rgb(223, 223, 223); color: #464646; margin: 12px 0px; padding: 0px 12px;">
<ul class="tabs ven_fixed" style="border-color: rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 0px 0px 1px 1px; font-weight: 700; list-style: none; margin: 0px; padding-left: 0px; padding-right: 0px;"><li class="ven_selected" id="tabMenu1" style="background: -webkit-linear-gradient(top, rgb(233, 233, 233), rgb(246, 248, 248)); border-color: rgb(0, 63, 109) rgb(193, 193, 193) rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 3px 1px 0px 0px; color: #003f6d; cursor: pointer; float: left; padding: 6px 12px;">
Default Currency</li><li id="tabMenu2" style="background: -webkit-linear-gradient(top, rgb(233, 233, 233), rgb(246, 248, 248)); border-color: rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 3px 1px 0px 0px; cursor: pointer; float: left; padding: 6px 12px;">
Other Currency</li></ul>
<div id="Tab1">
<p style="margin: 12px 0px;">
Currency: <strong>Malaysian Ringgit (MYR)</strong></p>
<table border="0" cellpadding="0" cellspacing="0">
</table>
</div>
</div>
<h4 style="color: #003f6d; font-size: 13px; margin: 12px 0px;">
<b>SUMMARY OF KEY FINANCIAL INFORMATION</b><br />
<b>31 Dec 2020</b></h4>
<h3 style="color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: normal; line-height: 20px; margin: 12px 0px;">
</h3>
<div class="tabSection" style="border-color: rgb(223, 223, 223); color: #464646; margin: 12px 0px; padding: 0px 12px;">
<table border="0" cellpadding="0" cellspacing="0">
<tbody>
<tr valign="top">
<td class="formTableHeader" style="border-color: rgb(247, 202, 143); border-style: none; border-width: 0px 0px 3px; font-family: Arial, Helvetica, "Sans Serif"; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; width: 0px;" width="100%">
<div align="center">
</div>
</td>
</tr>
</tbody>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="ven_table" style="border-collapse: collapse; border-color: rgb(223, 223, 223); border-style: solid; margin: auto;">
<tbody>
<tr valign="top">
<td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" rowspan="5" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="21%">
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="43%">
<div align="center">
<b>INDIVIDUAL PERIOD</b></div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="36%">
<div align="center">
<b>CUMULATIVE PERIOD</b></div>
</td>
</tr>
<tr valign="top">
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="17%">
<div align="center">
<b>CURRENT YEAR QUARTER</b></div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="26%">
<div align="center">
<b>PRECEDING YEAR<br />
CORRESPONDING<br />
QUARTER</b></div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="25%">
<div align="center">
<b>CURRENT YEAR TO DATE</b></div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="12%">
<div align="center">
<b>PRECEDING YEAR<br />
CORRESPONDING<br />
PERIOD</b></div>
</td>
</tr>
<tr valign="top">
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="17%">
<div align="center">
31 Dec 2020</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="26%">
<div align="center">
31 Dec 2019</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="25%">
<div align="center">
31 Dec 2020</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="12%">
<div align="center">
31 Dec 2019</div>
</td>
</tr>
<tr>
</tr>
<tr valign="top">
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="17%">
<div align="center">
<b>$$'000</b></div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="26%">
<div align="center">
<b>$$'000</b></div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="25%">
<div align="center">
<b>$$'000</b></div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="12%">
<div align="center">
<b>$$'000</b></div>
</td>
</tr>
<tr valign="top">
<td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%">
<b>1</b></td>
<td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%">
<b>Revenue</b></td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%">
<div align="right">
77,855</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%">
<div align="right">
72,502</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%">
<div align="right">
218,495</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%">
<div align="right">
209,616</div>
</td>
</tr>
<tr valign="top">
<td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%">
<b>2</b></td>
<td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%">
<b>Profit/(loss) before tax</b></td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%">
<div align="right">
46,679</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%">
<div align="right">
40,975</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%">
<div align="right">
121,423</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%">
<div align="right">
111,055</div>
</td>
</tr>
<tr valign="top">
<td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%">
<b>3</b></td>
<td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%">
<b>Profit/(loss) for the period</b></td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%">
<div align="right">
34,756</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%">
<div align="right">
30,980</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%">
<div align="right">
90,572</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%">
<div align="right">
82,257</div>
</td>
</tr>
<tr valign="top">
<td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%">
<b>4</b></td>
<td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%">
<b>Profit/(loss) attributable to ordinary equity holders of the parent</b></td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%">
<div align="right">
34,756</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%">
<div align="right">
30,980</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%">
<div align="right">
90,572</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%">
<div align="right">
82,257</div>
</td>
</tr>
<tr valign="top">
<td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%">
<b>5</b></td>
<td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%">
<b>Basic earnings/(loss) per share (Subunit)</b></td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%">
<div align="right">
9.72</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%">
<div align="right">
8.88</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%">
<div align="right">
25.52</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%">
<div align="right">
23.75</div>
</td>
</tr>
<tr valign="top">
<td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%">
<b>6</b></td>
<td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%">
<b>Proposed/Declared dividend per share (Subunit)</b></td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%">
<div align="right">
0.00</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%">
<div align="right">
0.00</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%">
<div align="right">
6.00</div>
</td>
<td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%">
<div align="right">
5.00</div>
</td>
</tr>
<tr valign="top">
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="2%">
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="19%">
</td>
<td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border-color: rgb(223, 223, 223); border-style: solid; color: white; font-stretch: normal; font-variant-numeric: normal; font-weight: 700; line-height: 16px; padding: 4px;" width="43%">
<div align="center">
<b>AS AT END OF CURRENT QUARTER</b></div>
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<b>AS AT PRECEDING FINANCIAL YEAR END</b></div>
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<b>7</b></td>
<td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border-color: rgb(223, 223, 223); border-style: solid; font-stretch: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%">
<b>Net assets per share attributable to ordinary equity holders of the parent ($$)</b></td>
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2.0500</div>
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1.9200</div>
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这个季度是RCECAP
2021财政年的第3个季度业绩,本来今年我也因为疫情关系,对他没有抱有什么期待,但是没想到的是,他上个季度直接覆盖回去年3月因为MCO的影响,而这个季度更是直接再破了新高,营业额对比去年同季度虽然只上涨了7.4%,但是就净利来说,却成长了9.5%,算是效率非常不错的,累积三个季度的营业额来说只增长了4.2%,但是净利则增长了7.5%,虽然增长不多,但是这种行情还能有这种业绩,我个人是满意了。。
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJwcR7FOKS0Wph3MLhe4SZA6UUMPKKDr31GgJyMZtHOfex3TY4lHB7lov7DKVP5dTlZlogBwhMzOTReRP4JZouU9D6YEw6siX4W7i3Te-v6X2Vjy9ccVZraQZB-40-i4rkJAJI/s751/RCECAP+001.JPG" rel="nofollow" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="490" data-original-width="751" height="261" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJwcR7FOKS0Wph3MLhe4SZA6UUMPKKDr31GgJyMZtHOfex3TY4lHB7lov7DKVP5dTlZlogBwhMzOTReRP4JZouU9D6YEw6siX4W7i3Te-v6X2Vjy9ccVZraQZB-40-i4rkJAJI/w400-h261/RCECAP+001.JPG" width="400" /></a></div>
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除了去年3月MCO直接关完的那个季度,其实可以看到RCECAP这些年每个季度都是保持着稳健增长的。基本上如果接下来几年整体行情没有太差的话,基本上接下来几年他的成长都会继续保持就是了,没有太多变数。。</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvsRfM65z7UCqiZmJFScS8JIC9eIM_t5ctu0bOgKM20Onl7cituxcBelsXiEmdhHBVeVtXQC2F6E_L8pVgipCXelxoSHm3qtz8zM-wFjx5izPhblCaylawfW2zoRUvu-ff4Oae/s739/RCECAP+002.JPG" rel="nofollow" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="414" data-original-width="739" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvsRfM65z7UCqiZmJFScS8JIC9eIM_t5ctu0bOgKM20Onl7cituxcBelsXiEmdhHBVeVtXQC2F6E_L8pVgipCXelxoSHm3qtz8zM-wFjx5izPhblCaylawfW2zoRUvu-ff4Oae/w400-h224/RCECAP+002.JPG" width="400" /></a></div>
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公司在2015年重组完毕后,业绩就几乎每年稳健的成长着了,每年的业绩都是好像楼梯那样往上怕,去年又是创记录的一年了,虽然目前只是第三个季度,但是按照走势来看,今年基本上是肯定保持增长了,原以为会是休息的一年了,但是居然让我有惊喜,而且公司的nett
profit margin非常高居然接近40%,我只能说这家公司真的是非常好赚的一家公司了。。</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgY8pBi_-8JJ4FZH3d5Zkoi9rF1HK-ZqfG6EK8Vl8JRT1Q6A0s_sLIcOjQ9bF2AT45EqUeQHQywaom69CMP-xTUF2YDgRe_lRDknDVEhKB73Fxl2_MYUeTFIdhUVTCeCFNdi6uB/s1152/RCECAP+003.JPG" rel="nofollow" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1152" data-original-width="830" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgY8pBi_-8JJ4FZH3d5Zkoi9rF1HK-ZqfG6EK8Vl8JRT1Q6A0s_sLIcOjQ9bF2AT45EqUeQHQywaom69CMP-xTUF2YDgRe_lRDknDVEhKB73Fxl2_MYUeTFIdhUVTCeCFNdi6uB/w289-h400/RCECAP+003.JPG" width="289" /></a></div>
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这个是完整版本的业绩,3月那个季度还有些好有些不好的,这个季度出来全部都变得非常好了,那些impairment也没上次那么多了,但是director部分花费有变多了一点,三个季度的老板花费总共多了80万左右,如果以三个月净利增值了800万来看,算了算了,闭一只眼吧,但是如果未来有keep着增加,就需要注意的。而这个季度是保持成长的,而其他支出方面也减低了350万左右,算是还可以了,所以整体来说,这个季度的业绩如果说不好,我就真的不会了,不要用手套股那种飞天暴利的行业比较啦,正常的公司来说,这种稳定的成长而且是在疫情影响下,算是这样了,没得嫌了。。</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjM0yJ9pZK5jfP36dn9SKhu5mOqWZgk0cByQV117OfJpWgm5P5axtnIZPvv5hdn7973QFR7E45PD3o9hwaBifLm-7b7LvD7NsDLaA7iTrZFU-7jLOT1heDg_1Vb-hvZLGP31Dh8/s1205/RCECAP+004.JPG" rel="nofollow" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1205" data-original-width="862" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjM0yJ9pZK5jfP36dn9SKhu5mOqWZgk0cByQV117OfJpWgm5P5axtnIZPvv5hdn7973QFR7E45PD3o9hwaBifLm-7b7LvD7NsDLaA7iTrZFU-7jLOT1heDg_1Vb-hvZLGP31Dh8/w286-h400/RCECAP+004.JPG" width="286" /></a></div>
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这个是他的资产负债表,这个季度跟上个季度不一样的地方是,借贷总额开始增加,代表公司已经找到了新的方向继续前进,但是留意下他的现金也是减少的,这个是不太好,但是他deposit于其他财务机构的现钱是增加的,拉上补下咯,问题还不大,而且他的总借贷也变少了,所以拉上补下来说,他勇敢是把资金拿去还了债务,而不是纯放着浪费机会成本,只能说管理层非常精明把资产和负债以很effective的模式去营运了。</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIs3ohEL_ePlQZD_UsI_fqosSgu0fJsOddEfz6bb8Oh2lgRE6jb9C8b97XxNVxS4VUB3vdatQAgZEwNk-vlGDiiiqpAMdcEXPE8mh6PSAmPWkn7HjCKvBTZNzlyy1RuMTFwJCm/s883/RCECAP+006.JPG" rel="nofollow" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="306" data-original-width="883" height="139" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIs3ohEL_ePlQZD_UsI_fqosSgu0fJsOddEfz6bb8Oh2lgRE6jb9C8b97XxNVxS4VUB3vdatQAgZEwNk-vlGDiiiqpAMdcEXPE8mh6PSAmPWkn7HjCKvBTZNzlyy1RuMTFwJCm/w400-h139/RCECAP+006.JPG" width="400" /></a></div>
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这个是管理层给与投资者的一些解释,他们并没有详细的讲解关于公司的业务,很明显公司的业务也没什么东西可以讲解,他们只是讲在疫情影响下,会尽量保护员工的安全,希望是真的吧=。=,而管理层也表示,如无意外的话,今年年也会继续赚钱,所以投资者们不用担心咯~。~</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDaYXV-bH9EqQjB4aa49MKdbaEYaY7YeHSm8XH-38zlsfhP0ZMBc7h2x9-fPfMrRc1o0S9UA-ZRn68eWVAzl7K4R_C34ml34YB2rISo2MCbHmTA4wTGp7L52j1SG3tI8WyvtEV/s867/RCECAP+007.JPG" rel="nofollow" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="673" data-original-width="867" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDaYXV-bH9EqQjB4aa49MKdbaEYaY7YeHSm8XH-38zlsfhP0ZMBc7h2x9-fPfMrRc1o0S9UA-ZRn68eWVAzl7K4R_C34ml34YB2rISo2MCbHmTA4wTGp7L52j1SG3tI8WyvtEV/w400-h310/RCECAP+007.JPG" width="400" /></a></div>
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这个就是他的EPS算法,很多人都会担心他的ESOS会导致公司的净利被影响,但是可以明显看到,虽然股数变多了,但是其实公司成长的速度是快过他issue新股的速度,所以其实是可以接受的,但是值得一提的是,ESOS是真的导致他的股价放缓了,某些员工拿到票就赶紧卖掉了,不过钱是人家的,看开吧,反正我在乎的不是股价,而是公司的业绩能否成长,股息能否增加,如无意外,下个季度会宣布股息从6sen增加至7sen了,希望我的预测没错。。</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhFyPj_uEPpSv2gxZfXglRw20VFb43hyyxzNOxmaANVOZp29kN_W1NbGc1mqXXcbGIdp1WjA-9QHQLeh5eJBGwc1bQozF5M7NGNf46Y3809Q-t_48WTu6EWAn20Fz2j5WchO8p9/s671/RCECAP+008.JPG" rel="nofollow" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="415" data-original-width="671" height="248" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhFyPj_uEPpSv2gxZfXglRw20VFb43hyyxzNOxmaANVOZp29kN_W1NbGc1mqXXcbGIdp1WjA-9QHQLeh5eJBGwc1bQozF5M7NGNf46Y3809Q-t_48WTu6EWAn20Fz2j5WchO8p9/w400-h248/RCECAP+008.JPG" width="400" /></a></div>
<span style="color: blue;"><b>RCECAP(9296)</b></span><br />
<span style="color: blue;"><b>股价:RM2.51</b></span><br />
<span style="color: blue;"><b>PE:8.04+-</b></span><br />
<span style="color: blue;"><b>DY:4.78%</b></span><br />
<span style="color: blue;"><b>ROE:15.2%</b></span><br />
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很多人把云顶跟天哥画上等号,其实RCECAP又何尝不是天哥组合里最大的投资之一呢?云顶下来就是他规模最大了,不过比较起云顶,他的规模还真的是差了很多就真的,我不敢买那么多的原因,是他的流通票不多,能买不能卖啊老板=。=,不然的话,我的票数肯定不止那么少,不过他也是我这些年来,赚最多的其中一只股,两年多前人人看淡的时候,我就是1.26搜罗了那6-700k股,不知不觉现在股价已经一倍以上了。。</div>
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虽然现在的投资情绪都更倾向与短线投机,追逐趋势,各大板块因为一些消息就突然上升,一天分分钟就涨停或者涨2-30%,所以投资者都看不起那些稳定的个股的。但是天哥应该还是比较另类,在任何时候,天哥都喜欢在股市里找寻一些严重低估的,然后股息率够高并且稳定的,加上业绩有持续的在进步的公司,买入并长期持有,除非他去到高估,或者业绩放缓,才会慢慢减持,否则就是一辈子不卖,虽然方法很傻,时常被人笑,但是最重要是长期下来能够累积财富,傻不傻,笑不笑又何妨,最重要我的钱包有在建设就好。。</div>
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其实股票要赚钱,并没有想象的那么困难呢,说真的,龟兔赛跑这个寓言故事虽然不是真的,但是乌龟那种一步一脚印的向着目标进发的心态,反而是天哥持续学习的心态,所以我宁可平常心的做个乌龟慢慢一步一脚印的成长,只坚持买入有价值的低估股,只是在这么投机性的环境,我们是否有这个耐性和毅力,不被其他人影响,坚持自己的慢慢致富之路而已。。</div>
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对了,记得加入天哥的telegram频道哦,将来有什么新的内容,那边会第一时间看到哦,面子书已经不能放置链接了,所以直接telegram看到也比较方便对吧?共勉之吧。。话说看了那么久,你还不LIKE等什么哦,这个是鼓励来的嘛~。~。。</div>
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天哥的TELEGRAM频道: <a href="https://t.me/windscopo" rel="nofollow" target="_blank">https://t.me/windscopo</a><br />
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<span style="color: blue;">你的一个小小的like或share,是让我们用心整理更多好文章的最佳鼓励和动力哦^。^</span></div>
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HAPPY INVESTING</div>
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BY ~ 第一天</div>
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<p>
https://windscopo.blogspot.com/2021/02/5-rcecap9296-2021-q3.html</p> </div>
Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-21446322667388134402021-01-06T08:37:00.000+08:002021-01-06T08:38:04.947+08:00The Edge Best Call Awards 2020<p><span></span></p><a name='more'></a><br /><p></p><p>THE selection of winners was especially tough this year, with many
stocks reaching dizzying heights and mind-boggling multiples, though
Malaysian stocks remain a mere fraction of the US$100 trillion that
global stocks are now worth. The bellwether FBM KLCI looked set to end
the year lower for a second straight year at the time of writing but
reflected 23.18 times earnings — significantly higher than 17.7 times in
2019 and 21.3 times in 2018.</p>
<p>As many as 19 research outfits were represented in the 15th edition
of The Edge Best Call Awards — the highest since the awards were started
in 2005 (we skipped one year but brought back the awards because of
popular demand).</p>
<p>We long-listed as many as 39 calls that proved right in 2020 but
selected only 17 calls for 15 stocks from 131 nominations received for
90 stocks. The calls dropped from the running included stocks whose
ascent, though steep, may not be sustainable. We also decided against
picking winners for glove-related stocks this year but will look at them
next year when the dust settles, so to speak.</p>
<p>The number of submissions we received for consideration was the
highest since 2015, the first year The Edge opened nominations for this
annual award beyond the heads of “sell-side” research outfits to the
general investing public — readers of The Edge, fund managers, private
investors and equity analysts themselves — for what they thought was the
best “buy” or “sell” call that proved correct in 2020. Last year, 112
nominations were received from 15 research outfits for 81 stocks,
compared with 82 nominations for 67 stocks in 2018, 90 recommendations
for 66 stocks in 2017, and 86 nominations for 75 stocks in 2016.</p>
<p>The highest was 139 submissions for 102 stocks in 2015.</p>
<p>This year’s winners continue to include those who rightly stuck their
neck out by calling an outright “sell” or “buy” against consensus and
were proven right. A number of our winners this year were alone when
they first made their “buy” or “sell” call. Like last year, we made some
allowances for calls made in 2019 that proved right in 2020.</p>
<p>The awards are our best-effort attempt to recognise good fundamental
stock analysis and its importance in making informed investment
decisions. They are not meant to influence year-end appraisals or annual
bonuses. Feedback is welcome at <a href="https://www.theedgemarkets.com/cdn-cgi/l/email-protection#cba9aeb8bfa8aaa7a7b88ba9a2b1aeafacaee5a8a4a6"><span class="__cf_email__" data-cfemail="5f3d3a2c2b3c3e33332c1f3d36253a3b383a713c3032">[email protected]</span></a>.</p>
<p>With that, here are this year’s winners — selected based on
submissions and publicly available data — in no particular order.
Congratulations to the winners. To the good stock pickers not recognised
here, keep up the good work. Here’s wishing everyone a Merry Christmas
and a Happy New Year! Stay safe and may 2021 be a better year for
everyone!</p>
<h3>Credit Suisse head of research <strong><span style="color: #e74c3c;">Danny Goh</span></strong>’s call on Hong Leong Financial Group Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-danny-goh-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-danny-goh-tem1351_theedgemarkets.jpg" /></a></div>
<p>When Credit Suisse’s Danny Goh reinitiated coverage on Hong Leong
Financial Group Bhd (HLFG) with an “outperform” rating on June 1 this
year, he told clients that HLFG was trading at a steep 32% discount to
its sum-of-parts valuation of RM19.65 per share and that its life
insurance business and associate stake in MSIG — which he valued at
RM5.1 billion — were not reflected in its market capitalisation.</p>
<p>At the time, HLFG was hovering around RM13 apiece (RM15.1 billion
market cap) but Goh reckons it should fetch at least RM15.70, which was
his target price. Interestingly, Bloomberg data showed that one of the
three earlier “buy” recommendations were cut to “hold” (to join two
other “hold” calls) the day Goh reinstated coverage on HLFG following
the release of its latest quarterly earnings.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-HongLeong-tem1351_theedgemarkets_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-HongLeong-tem1351_theedgemarkets.jpg" /></a></div>
<p>While the stock slipped closer to RM12 within the first two months of
the call, it was quick to more than retrace those losses — surging as
much as 54% in just over three months to reach as high as RM18.68 on Dec
14. Closing at RM17.50 (RM20 billion market cap) on Dec 22, the stock
was still up 35% in just under six months from June 1 — not too shabby
for a large-cap stock that is only up 3.55% year to date. Goh’s target
price has been increased to RM20.60 since Nov 19 this year, which
reflects 17.7% upside potential if he continues to be right.</p>
<h3>UOB Kay Hian Research analyst <strong><span style="color: #e74c3c;">Desmond Chong</span></strong>’s call on Greatech Technology Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-Desmond-Chong-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-Desmond-Chong-tem1351_theedgemarkets.jpg" /></a></div>
<p>One other analyst was already tracking Greatech Techology Bhd when
UOB Kay Hian’s Desmond Chong initiated coverage on July 2 this year. His
“buy” call at the time, however, was earlier than his peer’s and it
proved prescient, with the stock up 261.7% year to date as it ended at
RM8.68 on Dec 22 to give it RM5.4 billion market capitalisation.</p>
<p>When starting coverage, Chong described Greatech as having “unique
positioning for the fourth industrial revolution” beyond the typical
automated test equipment (ATE) manufacturers in Malaysia that are
benefiting from the growth in industrial automation globally because it
also automates processes in production lines.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-Greatech-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-Greatech-tem1351_theedgemarkets.jpg" /></a></div>
<p>His initial RM4.80 price target reflected 19% upside to the RM4.04
the stock was hovering at back then, but the target prices were
subsequently revised higher when Greatech’s order book was bolstered by
more contract wins. When upgrading his target price to RM7.60 to reflect
19% upside in mid-August, he told clients that the stock could justify a
higher valuation multiple given its unique value proposition of having a
strategic exposure in the solar, medical and automotive industries that
offer better dynamics to weather cyclicality. His target price has been
upped to RM9.90 since Nov 30 this year, which is 8.4% above the stock’s
52-week high of RM9.13 on Nov 13 and 145% above where it was when Chong
started coverage just six months back in early July. Investors would
likely be keeping an eye on whether Greatech can continue replenishing
its order books.</p>
<h3>TA Research analyst <strong><span style="color: #e74c3c;">Tan Kong Jin</span></strong>’s call on Focus Point Holdings Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-Tan-Kong-Jin-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-Tan-Kong-Jin-tem1351_theedgemarkets.jpg" /></a></div>
<p>It is easy to miss Focus Point Holdings Bhd, whose market
capitalisation stood just below RM200 million even after gaining as much
as 152% this year to close at 90.5 sen on Dec 17. The stock’s rally in
February was cut short in March when stocks around the world reacted to
the declaration of a pandemic. Investors would have locked in most of
their gains early in the year if they had followed Tan’s “sell” call on
Feb 28 when the stock was at 68.7 sen. At the time, Tan told clients the
stock had surged 110% since he initiated coverage in May 2019 and was
already fully valued at 67 sen.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-FocusPoint-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-FocusPoint-tem1351_theedgemarkets.jpg" /></a></div>
<p>Investors would have made another round of gains if they saw the
opportunity and bought the stock again when Tan upgraded the stock to a
“buy” on March 30 when it was hovering at 36.5 sen, which reflected a
discount of over 80% to his target price of 67 sen. At the point of his
upgrade, the only other stock recommendation was a “hold”.</p>
<p>From there, the stock soared as much as 152% to reach as high as 92
sen intra-day on Dec 16. At the time of writing, Tan has yet to change
his call, despite the stock price being 30% above his target price of 67
sen as it closed at 87 sen on Dec 22.</p>
<h3>Maybank Investment Bank Research analyst <span style="color: #e74c3c;"><strong>Kevin Wong</strong></span>’s call on Inari Amertron Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-Kevin-Wong-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-Kevin-Wong-tem1351_theedgemarkets.jpg" /></a></div>
<p>Shares of Inari Amertron Bhd, one of Broadcom Inc’s top OSAT
(outsourced semiconductor assembly and test) providers, were up more
than 52% year to date to give it a market capitalisation of RM8.5
billion. With as many as 20 analysts actively tracking the semiconductor
player, it is not easy to stand out.</p>
<p>Yet Maybank Investment Bank Research’s Kevin Wong made more than one
timely recommendation on the stock this year, putting it ahead of five
other houses that submitted their call for consideration for The Edge
Best Call Awards.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-InariAmertron-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-InariAmertron-tem1351_theedgemarkets.jpg" /></a></div>
<p>The first timely call was Wong’s downgrade from “hold” to “sell” on
Nov 27, 2019, after Inari’s first-quarter earnings came in one-fifth
below full-year forecasts. Its share price slipped nearly 40% — from
RM1.80 levels in late November 2019 to as low as RM1.09 on March 19 this
year — before rebounding. The rebound came just three days after Wong’s
upgrade of Inari to “buy” from “sell” on March 16. His RM1.50 target
price had implied 39% upside potential, with Inari shares hovering
around RM1.08 back then. Closing at RM2.59 on Dec 22, there is still 31%
upside potential to Wong’s target price of RM3.40 if he continues to be
right.</p>
<h3>Hong Leong Investment Bank Research analyst <span style="color: #e74c3c;"><strong>Gan Huan Wen</strong></span>’s call on Lii Hen Industries Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-Gan-Huan-Wen-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-Gan-Huan-Wen-tem1351_theedgemarkets.jpg" /></a></div>
<p>Malaysian furniture companies were seen as among the beneficiaries of
a shift in supply chain as a result of US-China trade tensions. But
what makes Lii Hen Industries Bhd worth an even closer look is its net
cash position and dividend-paying capability. While Hong Leong
Investment Bank’s (HLIB) Gan Huan Wen probably inherited coverage of Lii
Hen from the HLIB analyst who unearthed the stock in September 2017
(Rachel Hong), investors who heeded Gan’s recommendation the past year
would have profited handsomely.</p>
<p>Closing at RM3.87 on Dec 22, Lii Hen shares were up 26% year to date
and had gained 146.5% over nine months, if measured from their 52-week
low of RM1.57 on March 19 this year — and that’s just the share price
appreciation.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-LiiHenIndustries-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-LiiHenIndustries-tem1351_theedgemarkets.jpg" /></a></div>
<p>Noting how Lii Hen’s net cash position had risen from 84 sen per
share as at end-December 2019 to 88 sen per share as at end-June and 96
sen per share as at end-September, Gan expects Lii Hen to pay a dividend
per share of 16.5 sen in FY2020 and 20 sen per share in FY2021, which
reflects a 5.17% yield at the time of writing. On Nov 17, Gan raised the
target price from RM4.08 to RM4.96 after increasing sales and earnings
forecasts following the delivery of higher-than-expected earnings. That
implies 28% upside potential if Gan continues to be proven right.</p>
<h3>AllianceDBS Research analyst <span style="color: #e74c3c;"><strong>Toh Woo Kim</strong></span>’s and Credit Suisse analyst <span style="color: #e74c3c;"><strong>Danny Chan</strong></span>’s calls on Time dotCom Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-toh-chan-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-toh-chan-tem1351_theedgemarkets.jpg" /></a></div>
<p>It is perhaps little wonder that shares of Time dotCom Bhd are up 48%
year to date, with providers of fixed broadband seen as among the
beneficiaries as Covid-19-related movement restrictions made it
necessary for many to work and study from home. The stellar gains made
it the best-performing Malaysian telecoms stock, piping gains seen at
incumbent Telekom Malaysia Bhd, while larger capitalised mobile peers
skidded.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-Timedotcom-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-Timedotcom-tem1351_theedgemarkets.jpg" /></a></div>
<p>Of the four submissions on Time dotCom for the awards, the calls by
AllianceDBS’s Toh Woo Kim and Credit Suisse’s Danny Chan were among four
jointly ranked for top place by Bloomberg, alongside Macquarie
Research’s Prem Jearajasingam and BIMB Securities’ Afifah Abdul Malek.
They are among seven analysts who still have a “buy” recommendation
while three houses (UOB KayHian, Maybank and RHB Research) have
downgraded their calls to “hold”, according to Bloomberg data.</p>
<p>Toh and Chan have target prices of RM16 while Macquarie is the most
bullish at RM16.70. Those with “hold” recommendations have target prices
ranging between RM13 and RM13.70, which implies limited upside from the
stock’s RM13.32 closing on Dec 22. It would be interesting to see who
will be proven right next year.</p>
<h3>Maybank Investment Bank Research analyst <span style="color: #e74c3c;"><strong>Yin Shao Yang</strong></span>’s and Rakuten analyst <span style="color: #e74c3c;"><strong>Yong Jun Ting</strong></span>’s calls on RCE Capital Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-yin-yong-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-yin-yong-tem1351_theedgemarkets.jpg" /></a></div>
<p>Investors who bought shares of RCE Capital Bhd would have gained a
rare combination of decent dividend yield as well as good capital
appreciation with the stock price up 53.9% at its Dec 22 closing of
RM2.54.</p>
<p>While it was Maybank Investment Bank Research’s Desmond Ch’ng who
first initiated coverage on RCE Capital back in September 2016,
investors would have benefited from analysis by Yin Shao Yang, who took
over coverage from Nov 6, 2019, when the stock price hovered around
RM1.45. It was only in FY3/2020 that net profit exceeded the RM100
million mark and the dividend payout ratio began to rise again. RCE
Capital, which provides personal financing, including to civil servants,
is also enjoying cheaper cost of funds, thanks to the low interest rate
environment.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-RCE-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-RCE-tem1351_theedgemarkets.jpg" /></a></div>
<p>Similarly, Rakuten has maintained a “buy” call on RCE Capital since
initiating coverage on Oct 29, 2019, highlighting to clients the
latter’s defensive value proposition and decent asset quality. Its
target price was RM2.39 as at Oct 8 while Maybank’s was RM2.09 as at Nov
11.</p>
<p>A special mention also goes to KAF Seagroatt & Campbell’s Izzul
Hakim Abdul Molob and RHB Research’s Liew Wai Hoong. Izzul has had a
“buy” call on RCE Capital since Jan 3, 2018, and a RM2.30 target price
as at Aug 18, according to Bloomberg data. Liew, who started coverage on
Jan 10, has the most bullish target price of RM2.80 — the only one that
had not been exceeded at the time of writing.</p>
<h3>Hong Leong Investment Bank Research analyst <span style="color: #e74c3c;"><strong>Tan J Young</strong></span>’s call on UWC Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-Tan-J-Young-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-Tan-J-Young-tem1351_theedgemarkets.jpg" /></a></div>
<p>The meteoric rise in UWC Bhd’s share price is just jaw-dropping. More so if you are looking at a two-year horizon.</p>
<p>UWC made its debut on Bursa Malaysia’s Main Market in July 2019, at
an adjusted initial public offer price of 55 sen. About 18 months later,
the share price closed at RM9.88 on Dec 22 — 18 times its IPO price.</p>
<p>For the year to Dec 22, the stock had rallied 363%. The market price
has exceeded Hong Leong Investment Bank Research analyst Tan J Young’s
target price of RM8.88. During the year, he had raised the target price
substantially from RM2.59 in March as the company’s earnings growth
gained momentum.</p>
<p>UWC’s quarterly net profit has increased sequentially since it
started reporting results for the financial quarter ended April 30, 2019
(3QFY2019). Its quarterly net profit leapt from RM8.82 million in
3QFY2019 to RM21.7 million in 1QFY2021.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-UWC-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-UWC-tem1351_theedgemarkets.jpg" /></a></div>
<p>Tan is one of two analysts who track UWC, which specialises in the
provision of precision sheet metal fabrication and value-added assembly
services as well as the fabrication of precision-machined components.
The company mainly serves the semiconductor, life sciences and medical
industries.</p>
<p>“The escalating [US-China] trade intensity may eventually benefit
UWC, which provides a one-stop solution, as more companies shift
productions out of China to avoid import tariffs,” Tan wrote in his
research note.</p>
<p>A notable mention goes to Nomura’s Kong Heng Siong, who also has a
“buy” call on the stock, with an even higher target price of RM10.</p>
<h3>AmInvestment Bank Research analyst <span style="color: #e74c3c;"><strong>Jeremie Yap</strong></span>’s call on CSC Steel Holdings Bhd and Scientex Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57--Jeremie-Yap-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57--Jeremie-Yap-tem1351_theedgemarkets.jpg" /></a></div>
<p>The steel sector has been off investors’ radar screens due mainly to
the structural issues that it is facing such as the flood of cheap
imports eating into their profitability.</p>
<p>Still, AmInvest analyst Jeremie Yap managed to find a gem in CSC
Steel Holdings Bhd. About a week after the flat steel product maker’s
share price plummeted to an all-time low of 50.3 sen on March 23, he
made a “buy” call on the stock, with a target price of RM1.09.</p>
<p>Earnings-prospects-wise, Yap had his reservations on CSS Steel amid
the disruption brought about by the Movement Control Order (MCO) and the
expected weak demand due to the pandemic. Nonetheless, he saw it as a
dividend play that offered a high yield of 7% after the sharp fall in
share price made the stock attractive in March, given its cash-rich
balance sheet.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-CSCsteel-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-CSCsteel-tem1351_theedgemarkets.jpg" /></a></div>
<p>CSC Steel’s share price rebounded from its trough and climbed to a
2½-year high of RM1.29 on Dec 16, exceeding Yap’s target price.</p>
<p>While many companies are suffering from cash flow problems during the
pandemic, CSC Steel’s cash pile has grown, although its net profit
shrank 44% to RM15.57 million for the nine months ended Sept 30, from
RM27.7 million. The company’s net cash balance increased to RM307.6
million or 83.3 sen per share, which seems to have put it in a good
position to declare a generous dividend.</p>
<p>AmInvest’s Jeremie Yap isn’t the first analyst to discover this
stock. Nonetheless, the “buy” recommendation that was made on Sept 16
was just in time to ride the second leg of the rally that lifted
Scientex Bhd’s share price to a record high of RM12.50 in December.</p>
<div class="mt-3 imgw-250 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-Scientes-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-Scientes-tem1351_theedgemarkets.jpg" /></a></div>
<p>In roughly three months, investors would have made a capital gain of
36% — a considerably handsome return considering that the company has a
market capitalisation of more than RM10 billion — if they had followed
Yap’s recommendation. He believed that Scientex would be a good proxy to
the growth in global demand for fast-moving consumer goods packaging
materials.</p>
<p>To improve its liquidity, Scientex undertook a two-for-one bonus
issue plus a free issue of warrants on the basis of one warrant for
every five existing shares. This gave the company’s share price a strong
boost.</p>
<p>It is worth noting the early birds who advised their clients to add
the stock to their portfolios when Scientex tumbled to a four-year low
of nearly RM6 in late March. They include Jeff Lye of TA Securities, the
UOB Kay Hian team, Brian Yeoh of Affin Hwang and Damia Othman of Kaf
Seagroatt & Campbell, according to Bloomberg.</p>
<h3>Kenanga Investment Bank Research analyst <span style="color: #e74c3c;"><strong>Samuel Tan</strong></span> and Public Investment Bank Research analyst <span style="color: #e74c3c;"><strong>Chong Hoe Leong</strong></span>’s calls on D&O Green Technologies Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-samuel-chong-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-samuel-chong-tem1351_theedgemarkets.jpg" /></a></div>
<p>D&O Green Technologies Bhd is not a rubber glove stock, yet its
share price has shot up more than four times to an all-time high of
RM1.93, after plunging to a year low of 44.8 sen.</p>
<p>PublicInvest’s Chong Hoe Leong and Kenanga Research’s Samuel Tan are
the two analysts in town who spotted this gem. They upgraded D&O
Green to their “buy” lists in February on the grounds that the
automotive LED maker’s orders were picking up and the company was
gaining market share in the automotive industry.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-D&Ogreen-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-D&Ogreen-tem1351_theedgemarkets.jpg" /></a></div>
<p>Although consumers have tightened their belts as the Covid-19
pandemic has taken a heavy toll on the global economy, surprisingly
automotive sales have been better than expected, particularly in China.
Hence, D&O Green’s earnings have been rather resilient, with its net
profit barely shrinking 8% to RM19.3 million for the nine months ended
Sept 30, from RM21 million in the previous corresponding period. Revenue
grew marginally to RM366.2 million from RM353.8 million.</p>
<p>Tan revised upwards his target price thrice — to 91 sen in February,
RM1.20 in August and RM2 on Nov 25 — as the increase in D&O Green’s
share price had gathered steam since late March. Meanwhile, Chong raised
his target price to 89 sen in February, RM1.14 in August and RM1.88 in
November.</p>
<p>RHB Research analysts <span style="color: #e74c3c;"><strong>Loong Kok Wen</strong></span> and <span style="color: #e74c3c;"><strong>Raja Nur Aqilah Raja Ali</strong></span>’s call on CapitaLand Malaysia Mall Trust</p>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-loong-raja-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-loong-raja-tem1351_theedgemarkets.jpg" /></a></div>
<p>Real estate investment trusts (REITs) are usually perceived as a
vehicle for investors to seek shelter in when the economic climate turns
harsh.</p>
<p>But RHB Research analysts Loong Kok Wen and Raja Nur Aqilah Raja Ali
know quite well that not all REITs are the same. The duo told their
clients to offload units in CapitaLand Malaysia Mall Trust (CMMT) in
October 2019, when the shopping mall REIT was trading at slightly below
RM1. They reiterated their “sell” call in January as they anticipated
that pressure was mounting on the REIT’s occupancy rate and rental,
noting that the group’s shopping malls in the Klang Valley were not
faring well.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-Capitaland-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-Capitaland-tem1351_theedgemarkets.jpg" /></a></div>
<p>The unit price of CMMT lost its footing in February, even before the
outbreak of Covid-19 in Malaysia. The REIT continued to slide although
the local bourse staged a strong V-shaped rebound after the global
equity rout subsided in late March.</p>
<p>Their recommendation was timely. The Covid-19 pandemic that resulted
in a drastic drop in footfall at shopping malls has made the REIT’s
earnings prospects even gloomier. CMMT fell to a low of 59 sen per unit
on Nov 11. As at Dec 22, it had shed 37.5% year to date to 61.5 sen.</p>
<h3>UOB Kay Hian Research analyst <span style="color: #e74c3c;"><strong>Jack Goh Tooan Orng</strong></span>’s call on Mieco Chipboard Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-jack-goh-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-jack-goh-tem1351_theedgemarkets.jpg" /></a></div>
<p>Like furniture companies, particle board makers such as Mieco
Chipboard Bhd are also seen as beneficiaries of trade diversions owing
to US-China tensions. Demand also rose as more people worked from home.</p>
<p>Investors who paid attention when UOB Kay Hian’s Jack Goh said, in a
furniture sector note, that Mieco was worth at least 48 sen, when the
shares were at 34 sen on Sept 7, would have enjoyed the 154% share price
appreciation in just three months. Mieco shares closed as high as 86.5
sen on Dec 15.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-Mieco-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-Mieco-tem1351_theedgemarkets.jpg" /></a></div>
<p>While the share price had run ahead of the 55 sen apiece that Goh
said Mieco was worth in a Nov 3 note, he had yet to revise his
recommendation at the time of writing. “Mieco is a clear winner in the
particle board segment, despite the over 40% share price appreciation
since our last report two months ago. Besides nursing itself back to
high profitability, Mieco is on course to restructure some of its
short-term debts for a healthier balance sheet,” Goh wrote in the Nov 3
note.</p>
<p>We acknowledge this call for the stellar returns and Goh as the only
analyst actively tracking the stock, according to data on Bloomberg at
the time of writing.</p>
<h3>TA Research analyst <span style="color: #e74c3c;"><strong>Wilson Loo Jia Chern</strong></span>’s call on Unisem (M) Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-wilson-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-wilson-tem1351_theedgemarkets.jpg" /></a></div>
<p>With hindsight, many may deem “buy” calls on semiconductor stocks as
something of a no-brainer, going by how well technology stocks are doing
globally. Yet TA Research’s Wilson Loo deserves a pat on the back for
being the first to upgrade Unisem to a “buy” on Nov 4, 2019, with a
RM2.75 target price when the stock price was RM2.28. At the time, all
nine other analysts covering the stock had a “sell” recommendation.</p>
<p>The upgrade from “hold” to “buy” followed a selldown, “which has
presented improved upside potential”, Loo told clients in a Nov 4 note.
At the time, he also expected the closure of Unisem’s loss-making
operations in Batam Island, Indonesia, to offload the long-standing drag
on earnings.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-unisem-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-unisem-tem1351_theedgemarkets.jpg" /></a></div>
<p>While Unisem skidded to as low as RM1.53 in March this year following
wide-ranging sell-offs when the Covid-19 pandemic was declared,
investors who bought the stock in November 2019 would have profited
handsomely as the share price tripled in just over a year to close as
high as RM6.80 on Dec 18, before retracing to RM6.10 on Dec 22.</p>
<p>Loo — who retained his “buy” call and RM6.52 target price on Dec 14
when the stock closed at RM5.77 — is ranked first among nine analysts
tracking the stock, according to Bloomberg data at the time of writing.</p>
<h3>BIMB Research analyst <strong><span style="color: #e74c3c;">Afifah Abdul Malek</span></strong>’s call on GHL Systems Bhd</h3>
<div class="mt-3 imgw-50 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-afifah-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-afifah-tem1351_theedgemarkets.jpg" /></a></div>
<p>While her peers had downgraded GHL Systems Bhd amid concerns about
its profit margin and high valuation, BIMB Research analyst Afifah Abdul
Malek not only maintained her “buy” call but also raised her target
price to RM2.15. Her bullish view on the company was simply because of
Bank Negara Malaysia’s efforts to increase cashless payment
transactions.</p>
<p>“We remain positive on GHL’s long-term business prospects amid
continuous efforts by the government to adopt digital payments as well
as a rise in the contactless payment trend,” Afifah wrote in her
quarterly results review in November.</p>
<div class="mt-3 imgw-250 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://assets.theedgemarkets.com/pictures/cap57-GHL-tem1351_theedgemarkets.jpg"><img alt="" class="img-fluid" src="https://assets.theedgemarkets.com/pictures/cap57-GHL-tem1351_theedgemarkets.jpg" /></a></div>
<p>Judging by GHL’s share price performance this year, Afifah’s “buy”
call seems to have been proved right. The stock has doubled since the
start of the year, from 90 sen to RM1.80 on Dec 22. It hit a record high
of RM2.12 on Dec 2.</p>
The Covid-19 pandemic has expedited the migration to cashless
payments due to an increase in online shopping and for hygiene reasons.
GHL, which specialises in cashless payment solutions, is riding high on
the migration that has helped to mitigate weaker consumer spending. The
company’s transaction processing value (TPV) for e-pay and card payment
services recorded the highest value in the third quarter ended Sept 30
at RM1.1 billion and RM4.7 billion respectively<p><br />http://www.theedgemarkets.com/article/edge-best-call-awards-2020</p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-3823678313535085632020-12-23T21:22:00.006+08:002020-12-23T21:23:11.482+08:00RCE资本(RCECAP,9296,主板金融股)上挑RM2.65/敏源<p> <span></span></p><a name='more'></a><br />RCE资本(RCECAP,9296,主板金融股)上挑RM2.65/敏源<br /><br />冠病疫情持续影响整体市场情绪,冲击着富时隆综合指数的交投走势,按日再跌近1%。<br /><br />综指于12月22日闭市时以1631.92点报收, 按日跌15.97点或0.97%。<br /><br />整日交投波幅介于21.97(1625.39至1647.36)点间。<br /><br />30只成分股于12月22日间持续显现着一段技术调整走势中。上升股项为252只,而下跌股项为1045只。<br /><br />RCE资本(RCECAP,9296,主板金融股)于12月22日闭市时收2.54令吉,按日涨6仙或2.42%。<br /><br />该股30分钟图表走势,于12月22日间的交投走势突破顶头阻力线(B1:B2)。<br /><br />RCE资本的30分钟平滑异同移动均线指标 (MACD) 于12月22日间的交投走势处于一个调整的格局中。<br /><br />该股处于“0”支撑线上波动,后市的交投走势,或会出现一段短线回试它的下限支撑线的支撑(B1:B2)。<br /><br />RCE资本的日线图表走势于回试后,或会显现一段反弹走势,它或会挑战2.55至2.65令吉间的阻力水平。<br /><img alt="" height="610" src="https://www.enanyang.my/sites/default/files/styles/media_image/public/2020-12/201223rce.JPG?itok=D6szpVET" width="690" /><br />免责声明:本文纯属技术面分析,仅供参考,并非推荐购买。投资前请咨询专业金融师。<br /><br />https://www.enanyang.my/行家论股/rce资本上挑rm265敏源<br /><br /><p></p>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-34825373305692418462020-11-15T16:00:00.001+08:002020-11-15T16:00:18.312+08:00 Slow Crawling Kraken - RCECAP (9296)<p> <span></span></p><a name='more'></a><br /><p></p><h3>
RCECAP (9296)</h3>
<p>
<img alt="" src="data:image/png;base64,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" style="width: 700px;" /></p>
<p>
As a matter of fact, RCECAP is indeed a slow crawling kraken in the deep <em>"finance" </em>ocean. Global markets are cheering with the clear result of U.S new elected President Biden win and positive <em>"effect"</em>
from vaccines, also the very much-relieved announcement from Bank
Negara supporting the idea to preserve banks' capital and liqudity
buffers instead of reimposing the loan moratorium greatly benefited the
FBMKLCI to rebound from below 1500pts to test the ceiling of 1600pts. </p>
<p>
This means finance sector is the biggest beneficiary from all of the
recent news which boosted the sector to valued at P/E of 12.0 Thanks to
short term investors/traders are avoiding this kraken due to its low
volatility in price, RCECAP is super undervalued with P/E of less than
7.0. To recap, this kraken is <b><i>bulletproof </i></b>from all the negativities, eg. Covid-19 and Loan Moratorium.</p>
<p>
</p>
<p>
<img alt="" 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" style="width: 700px;" /></p>
<p>
<em style="color: #333333; font-family: Verdana, Arial, Helvetica, fantasy, sans-serif;"><strong>Lets break it down:</strong></em></p>
<p>
<em style="color: #333333; font-family: Verdana, Arial, Helvetica, fantasy, sans-serif;"><strong>1. Fantastic Business Model:-</strong></em></p>
<p>
RCE is viewed by many investors/traders as common money lender with the
luck of obtaining approval from Bank Negara, little did they know
RCECAP is a subsiary of AMCORP Group in which also owns AMBANK as one of
the biggest bank in Malaysia.The business model is attractive due to
its position as <em><strong>NonBank Financial Institution</strong></em> with majority of their clients/customers are civil servants. The <em><strong>repayments</strong></em> are done through a <em><strong>Salary Deduction Scheme</strong></em> whereby the <em><strong>installment payments are deducted from the salary on a monthly basis,</strong></em> just
exactly like EPF contribution on a monthly basis. Hence, the risk of
loan impairment is substantially reduced in their balance sheet. </p>
<p>
</p>
<p>
<em style="color: #333333; font-family: Verdana, Arial, Helvetica, fantasy, sans-serif;"><strong>2. Strong Net Interest Margin (NIM):-</strong></em></p>
<p>
RCE stands at an attractive position as it is benefiting from the <em><strong>low interest rate environment</strong></em> towards cheaper cost of funding. The Group financed via <em><strong>Sukuk</strong></em> programme with average rate of <em><strong>3% ~ 5%</strong></em> and repackaged them as consumer/commercial financing to their clients with the rate <em><strong>up to 12%</strong></em>. This will greatly improve RCE's <em><strong>net interest margin up to 8%</strong></em> which is super attractive in the business.</p>
<p>
</p>
<p>
<em style="color: #333333; font-family: Verdana, Arial, Helvetica, fantasy, sans-serif;"><strong>3. Constant Growth in Dividend:-</strong></em></p>
<p>
RCE has a stable <em><strong>dividend payout ratio</strong></em> ranging from <em><strong>20 - 40%</strong></em>. Given its revenue and net profit steadily growth at CAGR 11.72% and 22.82% respectively, <em><strong>constant growth of dividend per share at 2.00sen</strong></em> annually is achievable. Gearing ratio of 2.1x is manageable and lower than its peers' average of 4.8x</p>
<p>
<img alt="" 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" /> </p>
<p>
</p>
<p>
<em style="color: #333333; font-family: Verdana, Arial, Helvetica, fantasy, sans-serif;"><strong>4. Invulnerable from Covid-19/Loan Moratorium/MFRS9:-</strong></em> </p>
<p>
The Group remains competitive since the Covid-19 outbreak in Malaysia.
Since then, Malaysia Government pledged to restart the economy by
supporting both private and public sector via various policies/funds.
Notably, loan moratorium is implemented during the outbreak which
negatively affecting all the banks' earnings. However, RCE seems to be <em><strong>nullified from the moratorium</strong></em>
due to its Nonbank Financial Institution status and also guranteed
employment for civil servants. More importantly, the repayment scheme
business model has also benefited the Group from the implementation of
MFRS9(ECL). The new accounting standard affecting financial
institutions' earnings caused by more comprehensive calculation for loan
impairments especially on the effect from loan moratorium. However, RCE
stands at favourable position thanks to the repayment scheme business
model in which <em><strong>neutralized the loan impairments impact</strong></em>. </p>
<p>
</p>
<p>
<em style="color: #333333; font-family: Verdana, Arial, Helvetica, fantasy, sans-serif;"><strong>5. Forecast Growth/Earnings:-</strong></em></p>
<p>
<span style="color: #333333; font-family: Verdana, Arial, Helvetica, fantasy, sans-serif;">Based
on current market outlook, RCECAP registered a higher revenue of
RM140.6mil (+2.6% YoY) in 1HFY2021, primarily led by the increase in
early settlement income arising from higher refinancing activities by
customers. We are <em><strong>expecting</strong></em> RCECAP to register a higher revenue of <em><strong>RM175.1mil (+20.3% YoY) for 2HFY2021</strong></em> ramping up total revenue of <em><strong>RM315.7mil (+11.7% YoY)</strong></em> translating <em><strong>net profit of RM116.1mil</strong></em> at 36.73% profit margin with <em><strong>EPS of 33.38sen</strong></em> for FY2021</span></p>
<p>
<img alt="" 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QuCSVoE3BNkBwIQgAAETpVAKN5u7pNeIu7gBfOhuOBwnhQfrnd0Wtn385HXJ1FDwDU49iEAAQhA4CQJfPfDf2++cfZmZdIyJ+IS/v3iZ925iPA2LbEdC9c5V+LoRcOWJg/yRMA1OPYhAAEIQGC2BJ4/f24+//xzIwthPXz40Ny5c8ecnZ357vJvffcj85XXvlYRcTl+9wc/Mddf/mIrl3KGUbfo1zpJLFxnGI0jgm5nQq1PV46Aa4LsQwACEIDApAl8+eWXVqQ/+eQT8+jRIyvSb731VkWUnWetv2/fvm3u/u3fMn/td/7Ai3gf8a5Ca1r0S2LEwnVqFSe2nsgmOgKuubEPAQhAAALJE3j58qUV6cePH1uRfu+994wIsBbkpv1bt25ZQRdhL4rC5iGCrzfxtMXj/uqN1zt73jr9er/+vLo9XOdQppWVO+3aI5vT4qXrYwRcc2MfAhCAAASSISDd3U+ePLEife/ePSu+r732WqtQS5e4dI2///77tqtc8pCu8z6biPh3Pnjaqdvc59u06JecjIXbrvFNV3ssjvXY1Sh0noF73OxAAAIQgMCRCTx79sw8ffrUivSDBw+s+N64caNVpG/evGnjSXzxpiX9F198ceSaHL54PPDDM6dECEAAAidFwA0eE7EVz1gPHmvq6pYw8bQlnnjeku6zzz6zXd4nBW5LZUXAL6+u/YfVyLYA4zQEIAABCNQJvHjxwgqsPFuWEd5vv/22kWfOMYF24RJPnmGLSMszbenyfvXqVb0AQmoE8MBrSAiAAAQgME8CMlnJPnN8u8FjboT33bt3Ow0ek1HgEldEWtKKSIeDx+ZJfNxaIeDj8iV3CEAAAkkQcDONbZvjW7xfPXhMvGPxkp3HHPsWb1viifct71lLHuKVs41HAAEfjy05QwACEEiCgBNvPcf3b/6Tf2v+8I/+2HrF9+/ft8+bt43w/hN2QpH1qOg33vldK9Ju8JidiCQYJa0rX05Ukhk/p7efpGSdp35FSqdlv5kAAt7MhVAIQAACsyAQirfzoEXMbzfMPCYjwGXwmIi6dHnLCG8ZKV7Z9CtQRt5bzkxeRKYPlYQSv2VOb5t3Jc9KaRxECCDgETAEQwACEJg6AXnO/N7Di9Y5vt/94U/su9a9Bo+J2IbedlOYB9g+p7eN1preZ8SOIoCAKxjsQgACEJgDAXnlSl6/Em9bPO195/h2TMpu8Opc3/b8NgGW8w1zerfm6Qrmu5EAAt6IhUAIQAAC0yIgA8ZkAJlMcuK6yaU7XLrC//g//hc7LahbqGP3Ob4dEzVftwtqE/Atc3qvs2jI0+XNdyMBBLwRC4EQgAAEpkFAphqVV7ScaMu3zAsu71Tr96mHmePbMSnn63Yh9jl32K2+ObltTu91tIY8febsNBFAwJuoEAYBCEAgYQIys5lMI6qnHJV9CWub93unOb4dh+h83etBbOUfiM2yl7bL3HW1i3fdMKd3NE9XKN9tBBDwNjqcgwAEIJAIAfGmxasOV90S71u8cO1tJ2IyZoxMAAEfGTDZQwACENiHgLzCFXrb8pxbnnczUco+ZKefFgGffhtSAwhAYGYEZMpSmXI0nEtcZkUTb5sNAkIAAec6gAAEIJAIAfG2ZdS4nhFN1reWqUmZOzyRRkrIDAQ8ocbAFAhA4PQIiDCLQItQlwPBMvset8yCxgaBGAEEPEaGcAhAAAIjEhBxdpOtOOGWLnPpOpcudDYIbCPQTcD9DDrVCefl3T534fnJ6YMSY3Fi4UHy1sPQ+NbInIQABCBwZAJushXtbUt3uXSb1+YbP7KtFJ8+AdHAy6tr/8m2iqJ7t6/LzDqxOLHwnry22tozP6JDAAIQGINAbLIVvO0xaJ9OnqEGdhPwRWGWxcL4xWXsYjMLEy4FJ152U5xYeF/sofF90xMfAhCAwFgEZEKVpqlNt022MpY95Ds/AqEGRgU8nHBejrU4m2VeE/BYnFj4NrwXFxd22LwYLR8Z+MEGAQhAIBUCsclWmqY2TcVm7Jgugc4CXlZxPeF8njd712U8WQK2OU4sXKftsh8a3yUNcSAAAQgMTaBpalMmWxmaMvmFBEINjHrgZcLNhPNFbjI/cf16LtyKRy4JYs+6Y+FlIZ32QuM7JSISBCAAgQEIuMlW3nrrrXIwb5bZhUWYbGUAwGSxlUCogc0CLoKrJqJ3z7rLbvWs7D53g9w2RTfGsdpeTmzv8ttqbRAhND44zSEEIACBwQm0TbbC1KaD4ybDFgKhBjYLeEsGxzwVGn9MWygbAhCYLwGZbKUoitrUpvIeN5OtzLfdU69ZqIEIeOothn0QgMDBCMQmW2Fq04M1AQW1EEDAW+BwCgIQOD0CTVObMtnK6V0HU6gxAj6FVsJGCEBgdAJNk60wteno2ClgDwII+B7wSAoBCEybgJvaVF75cgN1b9y4Ydff/uKLL6ZdOayfPQEEfPZNTAUhAAFNwE22cvfuXS/aIt5MtqIpsT8FAgj4FFoJGyEAgb0JxCZbef/9942cY4PA1Agg4FNrMeyFAARqBH756lfmg09/buRbbzLZyuPHj6137brI5Vu8byZb0aTYnyIBBHyKrYbNEICAJyCiff/Dn5o33nzHfstx02QrTG3qkbEzEwII+EwakmpA4BQJOPH++s1v2ufZ8v2X/8HH5iuvfc0/39422Uo5W+TCFKuSYhmemaw2T/Q6nqzr4D17FadMW82zzJ09COxPAAHfnyE5QAACRyDwP//X/zbf+cd/aJx4OyGV42///X9l/un5PzfyTnfrtipM7lRbr9EgU0J7Qd6s/6DE3eap4xu1HkQsz1ZDOAmB/gREwC+vrv2Hmdj6MyQFBCBwAALSLS7TmYpHfXZ2Zr71vY/MN87eLD1gtV6DhH+/+Fk/qyqiLasu5mZpc1ia3C/cVGbZaVXFSp5lWvYgMAQBPPAhKJIHBCAwKAF5P1sGmckIcXm9y3nX+vtP/tqfM98OusvlvHSfv/uDn5jrL3/Ryybp9vZOt6S0CzPJokvN3eC1+Mu8XNRpU3ItTi+LiAyBdgIIeDsfzkIAAiMTkPeyP//8c/Po0SM7OlwmUtFC7fZl2c4HDx7YUeXutS8RaRFr98x7V/EWb7qyKmKse1yx2OaB1/JUadmFwBAEEPAhKJIHBCDQmYDMcPbJJ5+Y+/fv11b3cmItI8bfe+89I4uGiLi3bU7Ev3rj9Z0974p4W+e7KujiSYdxTIvIN8ZvqwTnILADAQR8B2gkgQAEuhGQQWSfffaZefjwoblz506jZy2iLeckjsTdOvCsoWgR8e988LR3t7kVYfXsvOwul2fg0n2++bhn4LZb3T0bN0aE2sXxAi/C7tLZ7+Yu+IZqEASBXgQQ8F64iAwBCLQREG9ZvGbxnvX84lrQZIEQ8b7FC2e+8TaanINAOwEEvJ0PZyEAgQgBeQ4ts5zJc2l5Pq1F2u3L82yZ9Uyeb4u4y/NuNghAYBgCCPgwHMkFArMmIFOSPn361AqxdHfL+thOpPW3jBiXkeMyglxGkrNBAALjEUDAx2NLzhCYLIHwnWst0m5f3sWWd7Ll3WyJzwYBCByWAAJ+WN6UBoHkCHR551o8bvG8pStcPHHxyNkgAIHjEkDAj8uf0iFwUAL7vHN9UEMpDAIQ2EoAAd+KiAgQOA4BWaijaYnMPtYM/c51n7KJCwEIjEsAAR+XL7lDYCcCbpUtvUTmtoz0O9dvv/124yAzeX4t5/Z553qbHZyHAAQOQwABPwxnSoFAZwJOvN0qW/It611LuN66vHO9HnD2p8zf+X31zrWf4zs+z7dMA+oGq/mlNCvpGmYm08axDwEIjE4AAR8dMQVAoDuBULydiIqI/60fXpj8t/9ht3eu/83vmL/3z/77uuDKlJ/rGcYqi3aE5lXiq2UydbxgRjJ9in0IQOAwBBDww3CmFAh0IiBLYLYtkSlLaDpR7/zOtYitU2y9H7Fo2yIdNpnk46YXjeRDMAQgMC4BBHxcvuQOga0E9DvXt3792+Zb3/3Ir67lxFpW2for+b82H3z0Se93ritLWtbm6S7n9XaGVuJLoFoms5z7u57OpecbAhA4DAER8Mura//JQkU/jBm7lTIlW3erIanmRqDLO9fhOte7LpEp7GpLWoqAO2+86fwmTEWp52EbRbriWaRjbtcn9ZkWgVADEfBptR/WJkxgn3eu910iU7CIt+xXyHKcgq7vmre9Tmgy3z0eeQZuJBwBd1j5hsAxCCDgx6BOmbMkMPQ71zsvkSl0a13lpdjGR5iX3eJlV7n6ExDkWftzMMtWpVIQSJdAZwEvf9DuRhBZLzeoa+PNYtNN557v6S69IHnrYWh8a2ROQmBAAvqd6zHXuR7QZLKCAARmRiDUwOYu9FVh8mK1rrr8C7fdayLg5T/2Ri4+rpxVXXGx8MZM4oGh8fGYnIHAfgS6vHPNOtf7MSY1BCDQj0Cogc0CrvP0r6FsF/DY6yixcF1Ml/3Q+C5piAOBbQRY53obIc5DAAIpEAg1cKuAl4Negi50PWx1U7Myrg+wg2pi4duAXFxcGDHYfc7Pz7cl4TwEWgmwznUrHk5CAAIJE+gl4OI5Nw9cUd3jqrIxTzsWrpJ22g2N75SISCdNQL9zLetZ+3EYmUwruv6wzvVJXyJUHgKTIRBqYNQDF6+5WbylrpFXSmLPumPhPbGFxvdMTvSZE+jyzjXrXM/8IqB6EJgxgVADmwVcBFd5KJlM4LAszEKFeXGXZ+RqcJsIv0vr42zeUW0K78M6NL5PWuLOi8A+71zPiwS1gQAEToVAqIHNAp4ojdD4RM3ErICALNjBOtcBFA4hAAEI9CQQaiAC3hMg0fsRcKttsc51P27EhgAEIBASQMBDIhyPRsCJ9yjrXNtHN82Pa8oKrQdbNj26KR/1uImKylTsQQACEEiRAAKeYqvM0KZQvJ2IDrfOtYIWjMNwZ+Tth3LWPzXwsnGiIpeKbwhAAAJpEkDA02yX2Vk1+jrXmpgIuF+MozwRvgZZm49AokrahjkNylzYgwAEIJAGAQQ8jXaYvRVudS1ZGtN53/I92DrXlTcbYlP8BpMPZZkJtbpR1GffOlQQAhCYIgEEfIqtNlGbQxEfdJ3rChMR6u3Pspd5NU7ooVey5AACEIBAYgREwC+vrv2HUeiJNdDczPmv/+OFuf29f2G+euN18zd+71Mjot53Ey9ZzylQT6+eb9dPrkMqkwlF1s6OpSUcAhCAQAIE8MATaIRTMuH99983MnDtr//wj3YS7+g618FkQ17g9YC2ShzVzV4Jl5HsVc/8lNqHukIAAtMhgIBPp60mb6msoS1Tl8qz7y+++GLy9aECEIAABI5JAAE/Jv0TK1u8bxHv995778RqTnUhAAEIDE8AAR+eKTk2EJC5yvG+G8AQBAEIQGBHAgj4juBI1o9AURR43/2QERsCEIBAKwEEvBUPJ4cgIN73zZs3rYA/ffp0iCzJAwIQgMDJE0DAT/4SGB+A877feuut8QujBAhAAAInQgABP5GGPmY1nff92WefHdMMyoYABCAwKwII+KyaM73KiGjLyHO87/TaBosgAIFpE0DAp91+yVsvwi0C/uTJk+RtxUAIQAACUyKAgE+ptSZmq/O+pQtdBrKxQQACEIDAcAQQ8OFYklNAwHnfMoiNDQIQgAAEhiWAgA/Lk9w2BJ49e2a7zvG+uSQgAAEIjEMAAR+H68nnKtOlyrNvvO+TvxQAAAEIjEQAAR8J7ClnKwuViHjL1KkvX748ZRTUHQIQgMBoBBDw0dCebsbO+5bFS9ggAAEIQGAcAiLgl1fX/pOFij5OscPkOiVbh6lx+rk8f/7ce9+yfCgbBCAAAQiMQyDUQAR8HM4nk6tbMhTv+2SanIpCAAJHIoCAHwn8HIsVj9stGfrixYs5VpE6QQACEEiGAAKeTFNM3xDnfcszcDYIQAACEBiXAAI+Lt+TyV173zIKnQ0CEIAABMYlgICPy/dkcndLhuJ9n0yTU1EIQODIBBDwIzfAHIqXec7dkv6/ceoAABeRSURBVKF433NoUeoAAQhMgUBnAV/mmX09KMsWplitq7YqFpuwzGT5srG+sTix8MZMIoGh8ZFoBI9MwHnfLBk6MmiyhwAEIKAIhBrY/BrZqjC5U+1lbrJFYVbu22a2MsUiMzUNj8WJhSvDuuyGxndJQ5xhCWjvW1YfY4MABCAAgcMQCDWwWcC1LavCLPKlEQ9aC7YcL5zIb+LH4sTCdTFd9kPju6QhzrAEHj9+bHth8L6H5UpuEIAABLYRCDVwq4BLV7oIt/v2BSzzmoDH4sTCfV6RnYuLCyMGu8/5+XkkJsGHIuCWDMX7PhRxyoEABCCwJtBLwLWX3cWLjsWJhfdtlND4vumJvx8BEW1ZtOTs7Gy/jEgNAQhAAAK9CYQaGPXAxWuudJF3eY4dixML72l+aHzP5ETfk4DzvlkydE+QJIcABCCwA4FQA5sFXAQ3c6PQ5Xs9El1E3YV7cZdn5Flu3Jj0xjhm3QVfS9uzAqHxPZMTfQ8CzvuW18dkIBsbBCAAAQgclkCogc0CflibOpcWGt85IRH3JuCWDMX73hslGUAAAhDYiUCogQj4ThhPK5FM1iK9Jzdu3MD7Pq2mp7YQgEBCBBDwhBpjKqY475slQ6fSYtgJAQjMkYAI+OXVtf/ggc+xlQesk/O+ZdlQWcCEDQIQgAAEjkMAD/w43Cdb6oMHD2z3Od73ZJsQwyEAgZkQQMBn0pCHqIZbMhTv+xC0KQMCEIBAOwEEvJ0PZxUB8bpl8Nq9e/dUKLsQgAAEIHAMAgj4MahPsEznfYuAs2ToBBsQkyEAgdkRQMBn16TjVOjhw4fW+5YR6GwQgAAEIHB8Agj48dsgeQv0kqF438k3FwZCAAInQgABP5GG3qeaMtuadJ3fvXt3n2xICwEIQAACAxJAwAeEOcestPfNkqFzbGHqBAEITJUAAj7VljuQ3c77lpXH2CAAAQhAIB0CCHg6bZGkJbdu3bLd53jfSTYPRkEAAidMAAE/4cbfVnW3ZCje9zZSnIcABCBweAII+OGZT6ZEEW4ZvMaSoZNpMgyFAAROiAACfkKN3aeqzvu+efMmS4b2AUdcCEAAAgcigIAfCPTUirlz5w7e99QaDXshAIGTIoCAn1Rzd6usWzIU77sbL2JBAAIQOAYBBPwY1BMvU6ZLlWffjx49StxSzIMABCBwugREwC+vrv0nCxU9ZTRTsjVljto2532zZKimwj4EIACB9AiEGoiAp9dGB7XIed+ydCgbBCAAAQikSwABT7dtDm6ZWzIU7/vg6CkQAhCAQG8CCHhvZPNNIF63PPvG+55vG1MzCEBgPgQQ8Pm05V41cd63CDhLhu6FksQQgAAEDkIAAT8I5vQLcd63PANngwAEIACB9Akg4Om30egWypKh8twb73t01BQAAQhAYDACCPhgKKebkVsyFO97um2I5RCAwOkRQMBPr80rNRbvW2ZcE+/76dOnlXMcQAACEIBAugQQ8HTb5iCWOe+bJUMPgptCIAABCAxGAAEfDOU0M3Let6w+xgYBCEAAAtMh0EvAl3lmskVhVrZ+S5Nnme16le7XMrxa+VWxKOPkS38yFu4jdNgJje+QhCiKgFsyFO9bQWEXAhCAwEQIhBoYmUp1ZYpFZvKiMIuKgOemlOSGGi9zJeybPCRBLLwhi7ag0Pi2uJyrExDhlj9fT548qZ8kBAIQgAAEkiYQamBEwDd1WPUTcPGyldNt5HhRrOx3U3hfUqHxfdOfcnznfbNk6ClfBdQdAhCYMoFQA3sKuOpC14q8ISJd7pXgZW4FPBa+DeTFxYURg93n/Px8WxLORwg471sGsbFBAAIQgMD0COwh4LqyqntcBeOBKxgJ7T579sx2neN9J9QomAIBCECgJ4EBBXxhivXottKE2LPuWHiZstNeaHynREQybslQvG8uBghAAALTJSAaeHl17T+RLvS1h21Hm9uR5wtTLAuzUKPQ5dm23eQ5eVYObrMj1zfxfBw7jq3sftfhfVAi4H1orePKQiXSjjJ16suXL/tnQAoIQAACEEiCQKiBEQFPwtaaEaHxtQgE1Ag475slQ2toCIAABCAwKQKhBiLgk2q+fsY+f/7ce9+yfCgbBCAAAQhMlwACPt226225WzIU77s3OhJAAAIQSI4AAp5ck4xjkHjcbsnQFy9ejFMIuUIAAhCAwMEIIOAHQ33cgpz3zZKhx20HSocABCAwFAEEfCiSCeejvW8Zhc4GAQhAAALTJ4CAT78Nt9bALRmK970VFREgAAEITIYAAj6ZptrN0FevXhm3ZCje924MSQUBCEAgRQIIeIqtMqBNzvtmydABoZIVBCAAgQQIIOAJNMJYJmjvW1YfY4MABCAAgfkQQMDn05a1mjx+/NhO3IL3XUNDAAQgAIHJE0DAJ9+E8Qq4JUPxvuOMOAMBCEBgqgQQ8Km23Ba7RbRl0ZKzs7MtMTkNAQhAAAJTJICAT7HVOtjsvG+WDO0AiygQgAAEJkgAAZ9go20z2Xnf8vqYDGRjgwAEIACB+RFAwOfXpsYtGYr3PcPGpUoQgAAENgREwC+vrv2H5UQnfmnIZC3y7PvGjRt43xNvS8yHAAQg0EYAD7yNzgTPOe+bJUMn2HiYDAEIQKAHAQS8B6zUozrvW5YNlQVM2CAAAQhAYL4EEPAZte2DBw9s9zne94walapAAAIQiBBAwCNgphbslgzF+55ay2EvBCAAgd0IIOC7cUsulXjdMnjt3r17ydmGQRCAAAQgMDwBBHx4pgfP0XnfIuAsGXpw/BQIAQhA4CgEEPCjYB+20IcPH1rvW0ags0EAAhCAwGkQQMAn3s56yVC874k3JuZDAAIQ6EEAAe8BK8WoMtuadJ3fvXs3RfOwCQIQgAAERiKAgI8E9hDZau+bJUMPQZwyIAABCKRDAAFPpy16W+K8b1l5jA0CEIAABE6LAAI+4fa+deuW7T7H+55wI2I6BCAAgR0JIOA7gjt2MrdkKN73sVuC8iEAAQgchwACfhzue5cqwi2D11gydG+UZAABCEBgkgR6Cfgyz0y2KMxqU9VVsbAiIkKS5ctGALE4sfDGTCKBofGRaLMLdt73zZs3WTJ0dq1LhSAAAQh0IxBqYGQ98JUpFpnJi8IsnIAvcyXmm/OhhsfixMK72exjhcb7EzPfuXPnDt73zNuY6kEAAhDYRkA08PLq2n8iAr7JZlUKuHjQ2umW40XhfPN1/FicWPg2Y8PzpyjgbslQvO/wauAYAhCAwGkRCDWws4BLd7oWcLPMawIeixML34b+4uLCiMHuc35+vi3J7M7LdKnyyOLRo0ezqxsVggAEIACB7gR2FvAuXnQsTiy8u9nrmKHxfdNPLb7zvlkydGoth70QgAAEhicQamBnD1w87nJAG8/Ah2+aeo7O+5alQ9kgAAEIQOC0CXQU8LVA29HmMuI8Wxh53G1HpdvjrOw+l+fkWW7ceLbGOCaStmdbhMb3TD6p6G7JULzvSTUbxkIAAhAYjUCoge0e+Ghm7JZxaPxuuUwjlXjd8gcK73sa7YWVEIAABMYmEGogAj428R3yd963CDhLhu4AkCQQgAAEZkgAAZ9AozrvW56Bs0EAAhCAAASEAAKe+HUgS4bKc2+878QbCvMgAAEIHJgAAn5g4H2Lc0uG4n33JUd8CEAAAvMmgIAn3L7ifcuMa+J9P336NGFLMQ0CEIAABA5NAAE/NPEe5TnvmyVDe0AjKgQgAIETIYCAJ9zQzvuW1cfYIAABCEAAApoAAq5pJLTvlgzF+06oUTAFAhCAQEIEEPCEGkObIsItz76fPHmig9mHAAQgAAEIWAIIeIIXgvO+WTI0wcbBJAhAAAKJEEDAE2kIbYbzvmUQGxsEIAABCECgiYAI+OXVtf8wlWoTpQOGPXv2zHad430fEDpFQQACEJggATzwxBrNLRmK951Yw2AOBCAAgcQIIOAJNYgsVCID12Tq1JcvXyZkGaZAAAIQgEBqBBDwhFrEed8sGZpQo2AKBCAAgUQJIOCJNMzz58+99y3Lh7JBAAIQgAAE2ggg4G10DnjOLRmK931A6BQFAQhAYMIEEPAEGk88brdk6IsXLxKwCBMgAAEIQCB1Agh4Ai3kvG+WDE2gMTABAhCAwEQIIOBHbijtfcsodDYIQAACEIBAFwIIeBdKI8ZxS4bifY8ImawhAAEIzJAAAn7ERn316pVxS4bifR+xISgaAhCAwAQJIOBHbDTnfbNk6BEbgaIhAAEITJQAAn6khtPet6w+xgYBCEAAAhDoQwAB70NrwLiPHz+2E7fgfQ8IlawgAAEInBABBPxIje2WDMX7PlIDUCwEIACBiRNAwI/QgCLasmjJ2dnZEUqnSAhAAAIQmAMBBPwIrei8b5YMPQJ8ioQABCAwEwIi4JdX1/6ThYqecj2nZKvj6LxveX1MBrKxQQACEIAABHYhEGogAr4LxR5p3JKheN89oBEVAhCAAARqBPYQ8KXJs8w+y5XnudmiMKsg+1WxKM/nS382Fu4jdNwJje+Y7GjRZLIWYXXjxg2876O1AgVDAAIQmAeBUAN7eOAi4LkpZTkAssyVqK9MsciM1fBYeJC8y2FofJc0x4zjvG+WDD1mK1A2BCAAgXkQCDVwMAEXL1s53UaOF8XKfjeF74IzNH6XPA6VxnnfsmyoLGDCBgEIQAACENiHQKiBPQVcdaFrVTbGLPONx+2sW+ZWwGPhLlrb98XFhRGD3ef8/LwtelLnHjx4YLvP8b6TahaMgQAEIDBZAnsIuK6z6iLfBOOBl3zckqF43yUT9iAAAQhAYD8CAwr4whR6FFvsWXcsfId6hMbvkMVBkojXLYPX7t27d5DyKAQCEIAABOZPINTA7l3oq8Is1Ch0eb5tbFg5sE26y+0I9Syz3ecOZyzcne/6HRrfNd0h4znvWziwZOghyVMWBCAAgXkTCDWwu4AnwCU0PgGTaiY8fPjQ/omREehsEIAABCAAgaEIhBqIgA9F1hj7rrfMuIb3PSBUsoIABCAAAUsAAR/xQpDZ1kS87969O2IpZA0BCEAAAqdIAAEfqdVlnnPnfbNk6EiQyRYCEIDACRNAwEdqfOd9y8pjbBCAAAQgAIGhCSDgQxPd5Hfr1i3bfY73PRJgsoUABCBw4gQQ8BEuALdkKN73CHDJEgIQgAAELAEEfMAL4ZevfmU++PTn5tf/4noVNpYMHRAuWUEAAhCAQIWACPjl1bX/8BpZBU/3AxHv+x/+1Lzx5jvm9nc/Mn/61/4MS4Z2x0dMCEAAAhDoSQAPvCewpuhOvL9+85v2ubd8/83f+9RIeOetaWa7hsSxtdT17HZZsLBMQzYEQQACEIDAxAkg4Hs2YCjebupYEXHxyHuJuLMlmJLWBZvYPPIS34u2LCwTzEvvM2AHAhCAAATmQgAB37Mlv1/8zHzj7E3reTvxdt8SLud7byLIi8LotWEkj9gKb8YsTZ65OeiXJm9I29sGEkAAAhCAQNIEEPA9m+f6y1+Yd3/wE/OV175WEXE5lnA533Uru8GdGFdTynnvaMupzRrrNpbvgsf7rlLjCAIQgMA8CSDgA7RrKOK7iHfVDPGo60Ic9cBjXevVTDmCAAQgAIEZEUDAB2pMJ+JfvfF6b8+7bkLkOXZEqEXY7XKum4zEU9fH9fwJgQAEIACBqRNAwAdsQRHx73zwtFe3uS9exDlcX11OBgPaym52LdLisZdrr2c8A/dY2YEABCAwVwII+FxblnpBAAIQgMCsCSDgs25eKgcBCEAAAnMlgIDPtWWpFwQgAAEIzJoAAj7r5qVyEIAABCAwVwII+FxblnpBAAIQgMCsCSDgs25eKgcBCEAAAnMlgIDPtWWpFwQgAAEIzJoAAj7r5qVyEIAABCAwVwII+FxblnpBAAIQgMCsCYiAX15d+08WKnrKtZ+SrSlzxDYIQAACEJgegVADEfDptSEWQwACEIDACRJAwE+w0akyBCAAAQhMnwACPv02pAYQgAAEIHCCBBDwE2x0qgwBCEAAAtMngIBPvw2pAQQgAAEInCABBPwEG50qQwACEIDA9Akg4NNvQ2oAAQhAAAInSAABP8FGp8oQgAAEIDB9ApMS8IuLCyMGu8/5+bnfd2F8l3xgAQuuAa4BroH5XAMff/xx5V+HtK3emMhF05jJftjIM6nW4NWAUzekcOrGSWLBqhsrOO3GKeQ2moAv88xkmXxys+xm69ZYofFbE5xoBDh1a3g4wakbge6xuKa6sYLTbpxCbqMJeDfz+sUKje+X+nRiw6lbW8MJTt0IdI/FNdWNFZx24xRym5SA//jHP+5W6xOPBaduFwCc4NSNQPdYXFPdWMFpN06TFvBuVSYWBCAAAQhAYH4EEPD5tSk1ggAEIACBEyCAgJ9AI1NFCEAAAhCYHwER8Mura/+Z1DPw+TUHNYIABCAAAQh0I4AH3o0TsSAAAQhAAAJJEUDAk2oOjIEABCAAAQh0I4CAd+NELAhAAAIQmBOBVWHyYpV2jVaFWeTxqc8Q8I7NV84ktzC6zVfFYjPDXGYyBdrGXxSmcnlIY9jZ6GRGumo+Hc1IPtq+nCo8LSs4SaM3XU8l6+q1l/xF0tPAsp7Va6FyrbT+9lamWLiZIDOz0D/gnrakHL0Ppz5xD13nPrbF4orN9lx4D1aVWebuelqa3N+XU/stybUbn70UAVcNGt3V/9SWucncRaH3zfomkS8330VhFi6ezXh9kaj7TLS4yZ4YhJOqvfzhqTBU56a8OwSnyj9zuebczWjKYBpsH4CVFXr/w5spqz6cCuV56nuY3vf3s4Y2GTNoiHo422v3YG243I+dMC5Nnsx9Rq5PZ9faXrl+/eWrq9Aw1z6j0ANAtUN14wzByrH/dx+Kj0pXy3OOAaq+vTgpFmE6dWo+uztzSvUGNGLT7Miq8rvceGaxG+KI1h8u666cxKI+cQ9Xg3VJfWxTcb2ZEhYT5sq5ZgEvvXvlldty8rXHvrmI5Ppar/Oh4rkegI1nb6NK2pqnr73/hVk09RQt81JXfOXWO3jgAZBth9Ko7sev9206DbpygdjWLBvZNmL1X9a2cqd2XrPR+1s5+YpqgfKBs9vRbPR+J07+hjBT7ztobc1H729npW+S66509xsOipjFoWaj92ucgj8z2+IeGo62R+9vq4e3M7wH+xPVPy7GVK8P64RVeiPW3fGlCKt7t5ShLibfLS/pVbguer2/8bS1ZtgTdQ/ctOSFgNfJRkPCf/Khh1g5H148QSNU4kZLnOaJsG69OG2qHOYxTRLtVod17MWpcoORH335x7K91Gme3YtVUGV/kw3C53DYh1OfuIdm08e2MK63NbwH+xMNAh546mGe/jjMU36H2qvO1r9DH1+XuenaL+Ov/whIXBu2/odQ60JHwCsQdzuQf4C+e9xl0XYTDRs6OK79o3R5Tvx7b062/vP3vvflFN4gGvOb+LXkzG+sW5/fnstIvivp9Inp7/fh1Cfuocn0sa0xrjM4uOe6YPtdOdfQhS7XifKgpZy1vgbd8kE8X0ZTeMXbrnva69/0sj6epZLOl2B38MCrPJqPpDEq/7LKLktpWHduLfBrb8iF6dHm/p+W5KUujuZCJxg6JKc58nFNOginarefH1jpypjL9xCsKnmo7s+5MJJ6VOpYfculdo/qE/fQjPrYFo0bvweX1dFOQoOAbx4v+Pu4ux9VhH+dm+ar7/c6fJ1c/2bleXduCud9q8eqLp1zGEU3XPGl/es9BDwkwjEEIAABCMyewDQepdQ9dd0wCLimwT4EIAABCJwGgZau6WQAiMcfc795jSyZZsIQCEAAAhCAQC8CeOC9cBEZAhCAAAQgkAYBBDyNdsAKCEAAAhCAQC8CCHgvXESGAAQgAAEIpEFABPzy6tp/mEo1jXbBCghAAAIQgEArATzwVjychAAEIAABCKRJoCbgP/rRj4wE8oEB1wDXANcA1wDXQLrXgOi13jJ9wP7pEpDnKmwQaCPANdJGh3NCgGvksNcBAn5Y3smWxg8v2aZJxjCukWSaIllDuEYO2zQI+GF5J1saP7xkmyYZw7hGkmmKZA3hGjls0/x/T36hhkzw0JMAAAAASUVORK5CYII=" /><span style="color: #333333; font-family: Verdana, Arial, Helvetica, fantasy, sans-serif;"> </span> <em><strong> </strong></em> </p>
<p>
</p>
<p>
<b style="color: #333333; font-family: Verdana, Arial, Helvetica, fantasy, sans-serif;"><i>Valuation:</i></b></p>
<p>
<strong>Expecting a fair value of RM2.60 for RCECAP</strong>. The
valuation is based on P/E of 7.8x for FY2021 EPS of 33.38sen. RCECAP is
valued at conversative historical average P/E of 7.8x which is
relatively low as comapred to its sector average rate P/E of 12x and
FBMKLCI P/E of 23x</p>
<p>
</p>
<p>
</p>
<p>
</p>
<p>
<i style="color: #333333; font-family: Verdana, Arial, Helvetica, fantasy, sans-serif;">Disclaimer:
The content above is provided for education purposes and does not
constitute a buy or sell recommendation. Each investment decision you
make should be based on your own personal analysis or seek for
professional licensed investment adviser. Therefore, we will not be
liable for any losses or damages arising whether directly or indirectly
of you acting based on this information. </i></p>
<p> https://klse.i3investor.com/blogs/KrakenViews/2020-11-14-story-h1536430236-Slow_Crawling_Kraken_RCECAP_9296.jsp</p>
Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-55469086531350831232020-11-12T18:26:00.004+08:002021-09-12T09:14:26.433+08:00RCECAP(9296)业绩反弹,是否要追高呢?<br /><span><a name='more'></a></span>RCECAP(9296)业绩反弹,是否要追高呢?<br /><br />昨天的 RCECAP 业绩出炉还真的蛮惊人的! 在目前的市场情况下,还能以看到 21.5% 的盈利成长..<br /><br />如果你是第一次接触 RCECAP 这家公司的话 那么你可以简单的理解 RCECAP 为提供公务员贷款的公司,其中 Yayasan Ihsan Rakyat(“YIR”)以及 Yayasan Dewan Perniagaan Melayu Perlis Berhad(“YYP”)两者都是公司有提供的融资服务啦~<br /><br />很多人说公务员呢,是铁饭碗,基本上是不会倒的 但是呢,Non-Performing Loan(“NPL”)其实还是会有的,而 RCECAP 做为非银行的金融机构,其 NPL 是 4% 左右的(对比与 ELKDESA 的 1.4% - 1.6% 来说是比较高的),但是净利率的话,就差得远咯~<br /><br />那么,RCECAP 这个季度的业绩无疑是非常好的 关于数字的细节相信有其他分享者已经提到了,我就不罗嗦啦~<br /><br />公司的这个季度盈利上涨呢,主要是因为客户群进行再融资(“Refinancing”),旧的贷款被 settle,因此公司的账目看起来也比较好看<br /><br /><br />顺带一提,公司的客户只有 < 1% 是参与了 RCECAP 的 Moratorium 的..<br /><br />接下来的话,RCECAP 有提到他们会 “更好的面对” COVID-19 带来的不确定性 这个季度公司的成本控制策略也让他们的盈利加强,而接下来公司的主要方向将会是继续加强营销活动,以及降低成本..<br /><br />另外一个有趣的数据就是,RCECAP 的 Net Interest Margin(“NIM”)* 高达 7 – 8% 相比于目前银行的 1.6% - 1.9% 来说的话,真的是差很远,不过两者是不能这样直接比较啦,还需要看更多的细节的!<br /><br />*NIM 的意思就是公司融资的成本跟借钱出去之前的差价,比如说成本是 2%,借出去是 10% 的话,那么 NIM 就是 8% 了。<br /><br />如果以估值来说的话,RCECAP 目前的 P/E 也只是 7 倍左右而已 跟 5 年平均 VWAP P/E 相比的话,其实也差不远,况且如果公司盈利可以保持这个水准的话,目前的价位是合理的!<br /><br />在这个季度里面,RCECAP 不但没有减少派发的股息,对比去年更是提高了 20%,从 RM 0.050 一股提高到 RM 0.060 一股,不简单啊!<br /><br />但是从技术面来看呢,公司的股价一下子跳空太多了 下一个支撑点 S1 是在 RM 2.040 左右,或许公司明天还有上涨力度的话,可以挑战 RM 2.210!<br /><br />整体来说,RCECAP 的估值还是不会太夸张的哦 <br /><br /> 免费开投资户口!:http://app.eventure.com.my/e4501105<br /><br />免责声明:以上所有的内容都单纯只是个人的观点,所涉及的内容只能被当成是学习,教育与资讯用途,而绝非专业的金融,投资意见,或买卖意见。请自行分析,了解其风险,再向专业的金融理财顾问专家探讨投资的性质。<br /><br />Eventure Group 绝不对任何分享的内容,观点,的准确性,完整性,正确性,有效期性负责任。<br /><br />#RCECAP<br />#QR<br />#DIVIDEND<br />#EVENTURE<br /><br />https://klse.i3investor.com/blogs/vitaeventure/2020-11-12-story-h1536376326.jsp<br />Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-896259161699901852020-11-11T00:24:00.002+08:002020-11-11T08:05:26.595+08:005分钟看懂 RCECAP(9296) 2021年 Q2季报 ~ 超越预期的业绩?<span><a name='more'></a></span><br /><h3 class="post-title entry-title" itemprop="name">
5分钟看懂 RCECAP(9296) 2021年 Q2季报 ~ 超越预期的业绩?
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<p> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s1600/RCECAP+LOGO.png" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="420" data-original-width="900" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSDW-cTaSXQ-Gx8CYu7C9m_5IWtyZa4AJDJXOPxYc-ShGT1UcpI6MjKd2yhRUK1SZJ2GiGK442ZJeY0qGDrd1BT55D66ualyujiLcThkPMNnWR5DuWpFOufceFMe6MWVmXJEO4/s640/RCECAP+LOGO.png" width="640" /></a></p><div class="separator" style="clear: both;">虽然今天(写稿时间为11月10日)的股市大涨50点以上,而且天哥满手复苏股,主力也直接以非常夸张的幅度大涨,手中的组合也突破了十多年来单日增值最多的数目,不过还是平常心看待就好,天哥比较注重的还是一家公司的业绩,毕竟我是以做生意的角度去入股一家公司,而RCECAP作为天哥的主力之一,也勉勉强强的挤入了30大,业绩出炉又怎么可能会错过呢?所以分析完毕后,就顺便分享一下,让同样有这家公司的读者们都可以看看,了解下公司的最新详情咯。而RCECAP这次的业绩居然突破了天哥的预测,我们一起来看看吧。。</div><a name="more"></a><h3 style="background-color: white; color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: normal; line-height: 20px; margin: 12px 0px;">Quarterly rpt on consolidated results for the financial period ended 30 Sep 2020</h3><h3 style="background-color: white; color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: normal; line-height: 20px; margin: 12px 0px;"><table><tbody><tr><td class="company_name" style="font-size: 14px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px;">RCE CAPITAL BERHAD</td></tr></tbody></table><br style="color: #464646; font-size: 12px;" /><table border="0" cellpadding="0" cellspacing="0" class="formContentTable" style="width: 100%px;"><tbody><tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px; vertical-align: top; width: 194.236px;" width="31%">Financial Year End</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 367.569px;" width="69%">31 Mar 2021</td></tr><tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px; vertical-align: top; width: 194.236px;" width="31%">Quarter</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 367.569px;" width="69%">2 Qtr</td></tr><tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px; vertical-align: top; width: 194.236px;" width="31%">Quarterly report for the financial period ended</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 367.569px;" width="69%">30 Sep 2020</td></tr><tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px; vertical-align: top; width: 194.236px;" width="31%">The figures</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 367.569px;" width="69%">have not been audited<span style="color: navy;"></span></td></tr></tbody></table><table border="0" cellpadding="0" cellspacing="0" class="att_table" style="border-color: rgb(223, 223, 223); border-style: solid; border-width: 1px; margin: 12px 0px; padding: 0px 12px; width: 100%px;"></table></h3><h4 style="color: #003f6d; font-size: 13px; margin: 12px 0px;">Attachments</h4><h3 style="background-color: white; color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: normal; line-height: 20px; margin: 12px 0px;"><table border="0" cellpadding="0" cellspacing="0" class="att_table" style="border-color: rgb(223, 223, 223); border-style: solid; border-width: 1px; margin: 12px 0px; padding: 0px 12px; width: 100%px;"><tbody><tr valign="top"><td style="font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px;" width="100%"><div class="attachment fixed" style="border-color: rgb(223, 223, 223); margin: 12px 0px; min-height: 1%; padding: 0px 12px;"><p class="att_download_pdf" style="background: url("/FileAccess/images/ven_icon_pdf.png") left top no-repeat; border-color: rgb(223, 223, 223); border-style: none; border-width: 1px; float: left; margin: 0px 5px 12px 0px; padding: 0px 12px 0px 35px;"><a href="https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=211616&name=EA_FR_ATTACHMENTS" style="color: #1c56fa; text-decoration-line: none;">Qtr Ann - 30 09 2020.pdf</a><br /><span class="FootNote" style="color: dimgrey; font-family: Arial; font-size: 11px; font-stretch: normal; font-style: italic; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 11px;">328.6 kB</span></p></div></td></tr></tbody></table><div class="tabSection" style="border-color: rgb(223, 223, 223); color: #464646; font-size: 12px; margin: 12px 0px; padding: 0px 12px;"><ul class="tabs ven_fixed" style="border-color: rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 0px 0px 1px 1px; font-weight: bold; list-style: none; margin: 0px; padding: 0px;"><li class="ven_selected" id="tabMenu1" style="background: -webkit-linear-gradient(top, rgb(233, 233, 233), rgb(246, 248, 248)); border-color: rgb(0, 63, 109) rgb(193, 193, 193) rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 3px 1px 0px 0px; color: #003f6d; cursor: pointer; float: left; padding: 6px 12px;">Default Currency</li><li id="tabMenu2" style="background: -webkit-linear-gradient(top, rgb(233, 233, 233), rgb(246, 248, 248)); border-color: rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 3px 1px 0px 0px; cursor: pointer; float: left; padding: 6px 12px;">Other Currency</li></ul><div id="Tab1"><p style="margin: 12px 0px;">Currency: <strong>Malaysian Ringgit (MYR)</strong></p><table border="0" cellpadding="0" cellspacing="0" style="width: 100%px;"></table></div></div></h3><h4 style="color: #003f6d; font-size: 13px; margin: 12px 0px;"><b>SUMMARY OF KEY FINANCIAL INFORMATION</b><br /><b>30 Sep 2020</b></h4><h3 style="background-color: white; color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: normal; line-height: 20px; margin: 12px 0px;"><div class="tabSection" style="border-color: rgb(223, 223, 223); color: #464646; font-size: 12px; margin: 12px 0px; padding: 0px 12px;"><table border="0" cellpadding="0" cellspacing="0" style="width: 100%px;"><tbody><tr valign="top"><td class="formTableHeader" style="border-color: rgb(247, 202, 143); border-style: none; border-width: 0px 0px 3px; font-family: Arial, Helvetica, "Sans Serif"; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; width: 0px;" width="100%"><br /></td></tr></tbody></table><table border="0" cellpadding="0" cellspacing="0" class="ven_table" style="border-collapse: collapse; border: 1px solid rgb(223, 223, 223); margin: auto; width: 100%px;"><tbody><tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" rowspan="5" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="21%"> </td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="43%"><div align="center"><b>INDIVIDUAL PERIOD</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="36%"><div align="center"><b>CUMULATIVE PERIOD</b></div></td></tr><tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="17%"><div align="center"><b>CURRENT YEAR QUARTER</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="26%"><div align="center"><b>PRECEDING YEAR<br />CORRESPONDING<br />QUARTER</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="25%"><div align="center"><b>CURRENT YEAR TO DATE</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="12%"><div align="center"><b>PRECEDING YEAR<br />CORRESPONDING<br />PERIOD</b></div></td></tr><tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="17%"><div align="center">30 Sep 2020</div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="26%"><div align="center">30 Sep 2019</div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="25%"><div align="center">30 Sep 2020</div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="12%"><div align="center">30 Sep 2019</div></td></tr><tr></tr><tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="17%"><div align="center"><b>$$'000</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="26%"><div align="center"><b>$$'000</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="25%"><div align="center"><b>$$'000</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="12%"><div align="center"><b>$$'000</b></div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>1</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Revenue</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">75,921</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">70,176</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">140,640</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">137,114</div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>2</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Profit/(loss) before tax</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">44,158</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">36,795</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">74,744</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">70,080</div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>3</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Profit/(loss) for the period</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">32,992</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">27,158</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">55,816</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">51,277</div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>4</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Profit/(loss) attributable to ordinary equity holders of the parent</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">32,992</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">27,158</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">55,816</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">51,277</div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>5</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Basic earnings/(loss) per share (Subunit)</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">9.27</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">7.82</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">15.79</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">14.86</div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>6</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Proposed/Declared dividend per share (Subunit)</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">6.00</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">5.00</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">6.00</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">5.00</div></td></tr><tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="2%"><br /></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="19%"><br /></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="43%"><div align="center"><b>AS AT END OF CURRENT QUARTER</b></div></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="36%"><div align="center"><b>AS AT PRECEDING FINANCIAL YEAR END</b></div></td></tr><tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>7<br /></b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Net assets per share attributable to ordinary equity holders of the parent ($$)</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" colspan="2" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="43%"><div align="right">2.0100</div></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" colspan="2" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="36%"><div align="right">1.9200</div><div><br /></div></td></tr></tbody></table></div></h3>这个季度是RCECAP
2021财政年的第2个季度业绩,本来上个季度因为MCO而走势非常弱,但是这个季度直接来个大的,不仅把上个季度的萎缩也追回来了,而且他的profit
margin也获得大大的提高,营业额对比去年同季度虽然只是稍微增长了8%左右,但是净利方面,却大涨超过20%,而且如果看半年的数据,他直接覆盖回上个季度的萎缩,还成长了6%++,股息也继续增长了20%,所以如果单单看这个简单版本的业绩来说,其实公司是做得非常好了,直接想给个LIKE他了。。<div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirkEtCb2PuFpMIn-GYjcR8od6CIxNnRipnHVx6FVTiuT09je4gmdwJ3bzElNOlFoFG6NQH817zpG_DHdFdi-37gQZ_5OEQDSq6slRCx9uiHEe3SOFDhKB_hehN03W3NMqfHr6X/s1129/rcecap+001.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="735" data-original-width="1129" height="260" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirkEtCb2PuFpMIn-GYjcR8od6CIxNnRipnHVx6FVTiuT09je4gmdwJ3bzElNOlFoFG6NQH817zpG_DHdFdi-37gQZ_5OEQDSq6slRCx9uiHEe3SOFDhKB_hehN03W3NMqfHr6X/w400-h260/rcecap+001.JPG" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">这么多个季度的YOY数据都是青青河边草的,终于上个季度出现了一个季度见红了,不过好是好在只是稍微放缓了少许,这个季度又再次大幅度的收青了,我只能说,是属于蛮不错的走势了。。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjBkap9IIRnTgZJ-LSuQHDX81-V6d6Rz5HKTknW0V2HggGgmS71tblx944P9qrkUgpLysL5UDx_Jq9Bvcuf-7UZybVOJvdz1655ilOGM2tdKlar0CHB9AslgW365SdUI8UeTcS3/s1143/image_2020-11-10_224217.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="619" data-original-width="1143" height="216" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjBkap9IIRnTgZJ-LSuQHDX81-V6d6Rz5HKTknW0V2HggGgmS71tblx944P9qrkUgpLysL5UDx_Jq9Bvcuf-7UZybVOJvdz1655ilOGM2tdKlar0CHB9AslgW365SdUI8UeTcS3/w400-h216/image_2020-11-10_224217.png" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;">公司在2015年重组完毕后,业绩就几乎每年稳健的成长着了,每年的业绩都是好像楼梯那样往上怕,去年又是创记录的一年了,虽然刚刚的业绩出炉还算不错,不过今年我觉得应该是持平或者稍微增值而已,会是休息的一年了,毕竟第一季度的走势比较弱了少许,所以除非第二三四季度非常好(目前第二季是非常好,还差2个季度),否则的话,成长幅度应该不至于太高才对。不过还好的是,公司的nett
profit margin非常高,虽然今年业绩麻麻地,但是还有接近40%,我只能说这家公司真的是非常好赚的一家公司了。。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-jMwtcvG1QXicIRPl3sdzxhCdoCZduxgKbXD0AR0FE7j5MfKW0YV7awm73YOh7W51k_QJbT2Bxw0WwRBf8AWE-d21hG_hDnuW6YJJHisoJ5D3QTd_ZmLNLjJPCxSUuW8DhM5j/s1337/rcecap+003.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1337" data-original-width="910" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-jMwtcvG1QXicIRPl3sdzxhCdoCZduxgKbXD0AR0FE7j5MfKW0YV7awm73YOh7W51k_QJbT2Bxw0WwRBf8AWE-d21hG_hDnuW6YJJHisoJ5D3QTd_ZmLNLjJPCxSUuW8DhM5j/w273-h400/rcecap+003.JPG" width="273" /></a></div><div class="separator" style="clear: both; text-align: center;">这个是完整版本的业绩,上个季度还有些好有些不好的,这个季度出来全部都变得非常好了,上个季度的那些impairment也没上次那么多了,所以他这个季度是保持成长的,而且他们的支出方面也减低了,算是一点点的小安慰吧,所以整体来说,这个季度的业绩如果说不好,我就真的不会了,不要用手套股那种飞天暴利的行业比较啦,正常的公司来说,这种稳定的成长是这样了,没得嫌了。。</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjfmQX3dr70y2n4B10q4XT4MPwfj9c5NYdl8CFOoIDWMp0fFRtRBJUs6VRCOyGmRMG_BsQxVIiwOsMAjnwsbbqlGGjEkk-UXBWheVRbcqbTxWIYg4SB0AqwQOuLeLMtaiRwYfRc/s1339/rcecap+004.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1339" data-original-width="909" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjfmQX3dr70y2n4B10q4XT4MPwfj9c5NYdl8CFOoIDWMp0fFRtRBJUs6VRCOyGmRMG_BsQxVIiwOsMAjnwsbbqlGGjEkk-UXBWheVRbcqbTxWIYg4SB0AqwQOuLeLMtaiRwYfRc/w271-h400/rcecap+004.JPG" width="271" /></a></div><div class="separator" style="clear: both; text-align: center;">这个是他的资产负债表,这个季度跟上个季度一样,借贷总额是减少的,所以公司的政策应该是猥琐的看清前路才出发吧,但是留意下他的现金也是减少的,这个是不太好,但是换个角度,他的现金减少,主要是因为把钱拿去还了债务,所以其实也是好事来的,毕竟暂时用不到的,就先拿去还债,减少些利息先,对公司整体走势来说,算是这样了,只能说管理层非常精明把资产和负债以很effective的模式去营运了。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjo1Gmw75tSH1uY96VS985jQxenbzZTkDdZvKcMU9qMEV2gyViBmTY6IIbWxv3FppgpCcwdk2c1mJPR0yhLyS5CvpaTpXJASIijNZMMVIETFLCrHIh0dRgCPO8LKCHEye_wGXqV/s1232/rcecap+005.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1232" data-original-width="912" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjo1Gmw75tSH1uY96VS985jQxenbzZTkDdZvKcMU9qMEV2gyViBmTY6IIbWxv3FppgpCcwdk2c1mJPR0yhLyS5CvpaTpXJASIijNZMMVIETFLCrHIh0dRgCPO8LKCHEye_wGXqV/w296-h400/rcecap+005.JPG" width="296" /></a></div><div class="separator" style="clear: both; text-align: center;">这个季度公司的现金流跟上个季度一样,居然是正数的,这个对于一家借贷公司来说,其实不是什么好事,代表他们没把钱借出去,但是这种行情,可能不借也是好过借的,于其借给一堆烂账的人,倒不如收着钱等机会XD,有钱还怕没人要借咩,不过。。继续观察下来公司要如何发展咯。。</div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4yivvDf-YEUGoSfJq7-7WyooDZjjRvw6tGHk-G7fqck2iDRKjq6zlXGoN_fotCJtMu2M2t-nC9x6IG4q-NtroEkEnZLach51wyMcuyErHvkSBDigU6v6R-iuR0Pl_WhWaLY2s/s869/rcecap+006.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="291" data-original-width="869" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4yivvDf-YEUGoSfJq7-7WyooDZjjRvw6tGHk-G7fqck2iDRKjq6zlXGoN_fotCJtMu2M2t-nC9x6IG4q-NtroEkEnZLach51wyMcuyErHvkSBDigU6v6R-iuR0Pl_WhWaLY2s/s320/rcecap+006.JPG" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;">这个是管理层给与投资者的一些解释,他们会有更多的计划来维持生意的成长,也准备好面对任何的情况来维持他们的主要生意,这而管理层也表示,如无意外的话,今年年也会继续赚钱,所以投资者们不用担心咯~。~</div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYbYfjOfxBijdHrXbfOHNz-xF2ERtu_t4UgYjD_bPDhTYJixLu30DLI0rWJAaq85qzqar0dmDy59xFKoEAgto8B2k8u8X5ooPQB9lJhfEvwLbHGzZrLhA21dOLT_ScJLZtETs4/s645/rcecap+007.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="392" data-original-width="645" height="243" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYbYfjOfxBijdHrXbfOHNz-xF2ERtu_t4UgYjD_bPDhTYJixLu30DLI0rWJAaq85qzqar0dmDy59xFKoEAgto8B2k8u8X5ooPQB9lJhfEvwLbHGzZrLhA21dOLT_ScJLZtETs4/w400-h243/rcecap+007.JPG" width="400" /></a></div><span style="color: blue;"><b>RCECAP(9296)</b></span><br /><span style="color: blue;"><b>股价:RM1.94</b></span><br /><span style="color: blue;"><b>PE:6.4+-</b></span><br /><span style="color: blue;"><b>DY:6.18%</b></span><br /><span style="color: blue;"><b>ROE:15%</b></span><br /><b><span style="color: blue;"><br /></span></b>虽然现在的投资情绪都更倾向与短线投机,追逐趋势,各大板块因为一些消息就突然上升,一天分分钟就涨停或者涨2-30%,所以投资者都看不起那些稳定的个股的。但是天哥应该还是比较另类,在任何时候,天哥都喜欢在股市里找寻一些严重低估的,然后股息率够高并且稳定的,加上业绩有持续的在进步的公司,买入并长期持有,除非他去到高估,或者业绩放缓,否则就是一辈子不卖,虽然方法很傻,但是最重要是长期下来能够累积财富,傻不傻又何妨。而RCECAP其实这三个月来,股价不仅没动静,还跌了1sen,不过如果单单看上述的基本面数据来看,要说他是不便宜我都不会怎么说了,PE又低,股息率又高,ROE又处于不错的范围,而且业绩还持续几年保持着增长,这么有牵制又低估的,我都不知道哪里找了。从天哥大概2年多前开始留意他1.2左右到现在,也起了不少,股息也收了不少,算是这样了咯,其实股票要赚钱,并没有想象的那么困难呢,说真的,龟兔赛跑这个寓言故事虽然不是真的,但是乌龟那种一步一脚印的向着目标进发的心态,反而是天哥持续学习的心态,所以我宁可平常心的做个乌龟慢慢一步一脚印的成长,只坚持买入有价值的低估股,只是在这么投机性的环境,我们是否有这个耐性和毅力,不被其他人影响,坚持自己的慢慢致富之路而已。。</div><br />共勉之吧。。话说看了那么久,你还不LIKE等什么哦,这个是鼓励来的嘛~。~<br /><br /><div><div style="margin: 0px;"><span style="color: blue;">你的一个小小的like或share,是让我们用心整理更多好文章的最佳鼓励和动力哦^。^</span></div></div><div><div style="margin: 0px;">HAPPY INVESTING</div></div><div><div style="margin: 0px;">BY ~ 第一天</div><div style="margin: 0px;">部落格: <a href="https://windscopo.blogspot.com/">https://windscopo.blogspot.com</a></div><div style="margin: 0px;"><br /></div></div><div style="margin: 0px;">面子书专页: <a href="https://www.facebook.com/%E7%AC%AC%E4%B8%80%E5%A4%A9%E6%8A%95%E8%B5%84%E7%90%86%E8%B4%A2%E6%97%A5%E8%AE%B0-427876764024658/?">https://www.facebook.com/第一天投资理财日记-427876764024658/?<br /><br /></a></div><div style="margin: 0px;">youtube频道: <a href="https://www.youtube.com/channel/UCs-9Pau2S8XGANg_CZ0bWFQ">https://www.youtube.com/channel/UCs-9Pau2S8XGANg_CZ0bWFQ</a></div><div style="margin: 0px;"><br /></div><div style="margin: 0px;">面子书群组: <a href="https://www.facebook.com/groups/1399899867001472/">https://www.facebook.com/groups/1399899867001472/<br /><br /></a>https://windscopo.blogspot.com/2020/11/5-rcecap9296-2021-q2.html<br /><div style="margin: 0px;"><br /><br /></div></div><div style="margin: 0px;"><br /></div><span style="font-family: "times new roman";"></span>Adminhttp://www.blogger.com/profile/16609839271303069034noreply@blogger.comtag:blogger.com,1999:blog-25058915.post-24650293736999244072020-09-24T21:50:00.004+08:002020-09-24T21:51:00.147+08:00RCECAP 股东大会 22-9-2020 @ E-Broadcast <p><span style="font-size: medium;"><span></span></span></p><a name='more'></a><span style="font-size: medium;"> <br /></span><p></p><span style="font-size: medium;">
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<div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxj9R4Dd8TMjgDDDBnn5ec2V6ltkasFZhxsqegP-mFHOWafHfIeM7W0KRe-WpFAC_PtMiDdiLMdtG4EYLpRI4esq_bjj1mS9Q20BMI8G4NBATPloahEjS3bYU-0LiZ6qgdLp61/s840/RCECAP+003.jpg" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="451" data-original-width="840" height="215" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxj9R4Dd8TMjgDDDBnn5ec2V6ltkasFZhxsqegP-mFHOWafHfIeM7W0KRe-WpFAC_PtMiDdiLMdtG4EYLpRI4esq_bjj1mS9Q20BMI8G4NBATPloahEjS3bYU-0LiZ6qgdLp61/w400-h215/RCECAP+003.jpg" width="400" /></a></span></div><p><span style="font-size: medium;">又到了一年一度的RCECAP股东大会了,之前的股东大会都在一个非常舒服的俱乐部举办,但是今年就冤枉了,MCO的缘故,很多的股东大会都改成online进行,其实说真的online的股东大会我不太喜欢,因为那个感觉不存在,而且很容易迷魂的听到一半魂魄不懂飞去哪里了XD,不过碍于他是我的主力之一,所以也是要去了解下的了,废话少说,我们还是说重点吧。。<span></span></span></p><span style="font-size: medium;"><a name="more"></a><span></span></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6m7DoSBg3sIVOY3yLhHj1SeMBtOWrUisHfo0unf_Qfgt4aCpJLbQUI2SiBZZMlMSzuYYYtbhmOi1caR3-NgE6pFHUSKWQaWkHRRoatAKHipILRdv5GBINlPhCmnlouVXooa4O/s1600/RCECAP+%25283%2529.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="1200" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6m7DoSBg3sIVOY3yLhHj1SeMBtOWrUisHfo0unf_Qfgt4aCpJLbQUI2SiBZZMlMSzuYYYtbhmOi1caR3-NgE6pFHUSKWQaWkHRRoatAKHipILRdv5GBINlPhCmnlouVXooa4O/w300-h400/RCECAP+%25283%2529.jpg" width="300" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">这个是前年参与股东大会前迷路拍的照片XD,看得出这个俱乐部非常舒服的。。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: left;"><span style="font-size: medium;">由于一些技术性的问题,所以我的电脑一直卡着卡着,前面有miss掉了一些,不过按照常理,前面都是讲解一些关于股东大会的流程,所以应该问题不大,后来就是CEO负责讲解公司去年的进度。。</span></div><div class="separator" style="clear: both; text-align: left;"><span style="font-size: medium;"><span style="text-align: center;"><br /></span></span></div><div class="separator" style="clear: both; text-align: left;"><span style="font-size: medium;"><span style="text-align: center;"><br /></span></span></div><div class="separator" style="clear: both; text-align: left;"><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIc-gRkplDfCUhdM_bhh9EmJ9NNrfVXcLAkB24J5XKNcrSFDRdW4UJGhFc03PuGmCRaF_iPCeDcKt0zzF5nvI-B-T4lAcMulr_OIGppR7ppGrWJPV2WxQ6OYPm99L7q2t6jv-Y/s856/RCECAP+001.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="526" data-original-width="856" height="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIc-gRkplDfCUhdM_bhh9EmJ9NNrfVXcLAkB24J5XKNcrSFDRdW4UJGhFc03PuGmCRaF_iPCeDcKt0zzF5nvI-B-T4lAcMulr_OIGppR7ppGrWJPV2WxQ6OYPm99L7q2t6jv-Y/w400-h246/RCECAP+001.JPG" width="400" /></a></span></div></div><div class="separator" style="clear: both; text-align: left;"><span style="font-size: medium;"><span style="text-align: center;">这个是公司的CEO。之前也被FOCUS MALAYSIA评为最佳CEO之一,我个人也非常认同他,根据之前参与大会的经验,他的厉害程度,已经到了在股东打算发问的问题前,就已经在他对公司的讲解中自行分析给股东知道了,所以最佳CEO应该当之无愧了。。</span></span></div><div class="separator" style="clear: both; text-align: left;"><span style="font-size: medium;"><span style="text-align: center;"><br /></span></span></div><div class="separator" style="clear: both; text-align: left;"><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMA6eCxhtlRhNmyFNTat99t-WXYQKQtEona10bIHJpfjQNjAsHcYLuKVUcLSYfgGp8q45JNhIsire1cnbiEG96stcDG0F83nUw_5iw04KHBfnJ-BuawdQQvFs3RlZTW_S75p7d/s686/RCECAP+004.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="418" data-original-width="686" height="244" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMA6eCxhtlRhNmyFNTat99t-WXYQKQtEona10bIHJpfjQNjAsHcYLuKVUcLSYfgGp8q45JNhIsire1cnbiEG96stcDG0F83nUw_5iw04KHBfnJ-BuawdQQvFs3RlZTW_S75p7d/w400-h244/RCECAP+004.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">公司营业额在这几年都稳定的成长中。。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNjJuZE6ncsJzOj8IzABYk_Sg6joShbqx18aASoFcGpFZ1BZQSJ6YL_UhQ8erRmY6f4jOJFDGdyn1D9463yz3RPWhr7Hkaf7sr4nq8Uctcl2e0ncPgi5W0ypMKHo5TP8KElqA2/s650/RCECAP+005.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="446" data-original-width="650" height="275" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNjJuZE6ncsJzOj8IzABYk_Sg6joShbqx18aASoFcGpFZ1BZQSJ6YL_UhQ8erRmY6f4jOJFDGdyn1D9463yz3RPWhr7Hkaf7sr4nq8Uctcl2e0ncPgi5W0ypMKHo5TP8KElqA2/w400-h275/RCECAP+005.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">公司的成本走势以稳定的下降走势进发,是好事来的,利息支出也是走高,但是以营业额走高的比例和利息支出的比例来看,其实算是不错了,但是主要是OPR下跌的帮助。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcOVoNSTCyORno5zZUOIMK4f1mbUM50btmPnUykjj3HDZAIRgg8Hfed5kaGBibPn8o134dSVhTzexNDpFJNmcIFBRuQJFUQ361x1ORCZYbuoyLjXlDXJfSZmUWKYiokUXpXOIp/s630/RCECAP+006.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="466" data-original-width="630" height="296" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcOVoNSTCyORno5zZUOIMK4f1mbUM50btmPnUykjj3HDZAIRgg8Hfed5kaGBibPn8o134dSVhTzexNDpFJNmcIFBRuQJFUQ361x1ORCZYbuoyLjXlDXJfSZmUWKYiokUXpXOIp/w400-h296/RCECAP+006.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">银行业的平均成本对回报是大概44.7%,但是公司的成本对收入只是22%,算是控制成本非常好的一家公司。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZokp8Kfvg544i_4Rw632UvdP2jEbLRM7bdXrQT6qYHLjeTMZ-OFLtl5RVwXnEgzKkSK39XA8IcEHkch18LO0Jt35jX3EsMiPwRIM-VtHu2XELnRpb2FjTFqXggoMt_RgAHVnX/s724/RCECAP+007.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="457" data-original-width="724" height="253" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZokp8Kfvg544i_4Rw632UvdP2jEbLRM7bdXrQT6qYHLjeTMZ-OFLtl5RVwXnEgzKkSK39XA8IcEHkch18LO0Jt35jX3EsMiPwRIM-VtHu2XELnRpb2FjTFqXggoMt_RgAHVnX/w400-h253/RCECAP+007.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">公司的loan loss coverage和预计的呆账率,说真的公司的预计呆账还真的有点高,这个是需要注意的,毕竟以银行业为例,比较正常的个人贷款一般上的呆账率都是介于5-6%而已,他做到7%,是有点高的。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNfNh2pQlZX15fzOmR_mKsjL8RrynJ9q6UzS24ZKxN3V9xtkm-YvLBvubNawQVltECQKU2a7ph7jIyvxVTdvq_0oL81koI56ENciT4i2Asex9VmqcEfnCczJsGl0nJtC56s6sc/s637/RCECAP+008.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="462" data-original-width="637" height="290" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNfNh2pQlZX15fzOmR_mKsjL8RrynJ9q6UzS24ZKxN3V9xtkm-YvLBvubNawQVltECQKU2a7ph7jIyvxVTdvq_0oL81koI56ENciT4i2Asex9VmqcEfnCczJsGl0nJtC56s6sc/w400-h290/RCECAP+008.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">这个不需要解释了吧,越高越好就对了XD</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgm301Iy1iA-nkTGk1P6-cqLoFkK04B5ckKs8GGXVrSTjf5lxYFDHJYq4Le5_m9m6MnHqsDBzBkJKJznXMdZybsLYldyTh9rqnMjPPMSBE6NahBSC7dUP8HpHmp_w8DIaurSwmi/s635/RCECAP+009.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="466" data-original-width="635" height="294" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgm301Iy1iA-nkTGk1P6-cqLoFkK04B5ckKs8GGXVrSTjf5lxYFDHJYq4Le5_m9m6MnHqsDBzBkJKJznXMdZybsLYldyTh9rqnMjPPMSBE6NahBSC7dUP8HpHmp_w8DIaurSwmi/w400-h294/RCECAP+009.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">公司的成长,无论是数目还是户口的数量,都有稳定的增长,是非常好的。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvwTIcV3Xrs_rkKIq-y520CVwVCSJmYLB6hBQKB2QCqw1oilp-Gl_HWqA_aIUGqCIFoLMUw3GAUta56VlBfUbcIYWR_-2MmBMzRzZwsR34HskSUimhOetMNdz053cxcq-ubRXp/s647/RCECAP+010.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="466" data-original-width="647" height="288" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvwTIcV3Xrs_rkKIq-y520CVwVCSJmYLB6hBQKB2QCqw1oilp-Gl_HWqA_aIUGqCIFoLMUw3GAUta56VlBfUbcIYWR_-2MmBMzRzZwsR34HskSUimhOetMNdz053cxcq-ubRXp/w400-h288/RCECAP+010.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">平均每个顾客的借贷为18.5K左右,算是小额贷款比较多咯。。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhDvjGoMxxECkQ2O6PI1OCBaduWBH2eBEI3zQiFiDxiftnC1Ubqn5z3NzeGoGgbdwXbxSqjaGLQ9hAwB6aJ1fW-UW64sN7VbrtAQV_5s9i9Q4DcSRXf8v-bHJxquibp77ULh6G/s661/RCECAP+011.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="468" data-original-width="661" height="284" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhDvjGoMxxECkQ2O6PI1OCBaduWBH2eBEI3zQiFiDxiftnC1Ubqn5z3NzeGoGgbdwXbxSqjaGLQ9hAwB6aJ1fW-UW64sN7VbrtAQV_5s9i9Q4DcSRXf8v-bHJxquibp77ULh6G/w400-h284/RCECAP+011.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">公司的资产与负债的走势。。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAczuVK5lj-o1Zjtv9sgfdWQMGmWt4SW3Hus8tI7LnHq4eGmtUc6iS0vKKwLPUkTThBUk6tmTxHl13DiRoo4MTDx7G6vXAqFbLIpQ8rxXsTWeIownG4R7LKl9nLwHTerQRDxkP/s657/RCECAP+012.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="420" data-original-width="657" height="256" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAczuVK5lj-o1Zjtv9sgfdWQMGmWt4SW3Hus8tI7LnHq4eGmtUc6iS0vKKwLPUkTThBUk6tmTxHl13DiRoo4MTDx7G6vXAqFbLIpQ8rxXsTWeIownG4R7LKl9nLwHTerQRDxkP/w400-h256/RCECAP+012.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">公司未来的资金来源,还有17亿左右,所以我相信未来3-5年的资金来源已经不是问题了,重点是生意有没有而已,而公司都说明要走素质,而不是数量了,相信这个已经够用一段很长的时间了。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgf94NZ2lJaXSZT32DtCal99iniBrqYXs53bAw4ULJ7ObaJRD99EFHG8gj6moQnjdeGV90LbUmlRSordrgUEOuVRunCPK5dvvyTs5qf57IQnvcuJvvr5NJ8-F0L0DaBmm1Ucmh5/s644/RCECAP+013.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="464" data-original-width="644" height="289" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgf94NZ2lJaXSZT32DtCal99iniBrqYXs53bAw4ULJ7ObaJRD99EFHG8gj6moQnjdeGV90LbUmlRSordrgUEOuVRunCPK5dvvyTs5qf57IQnvcuJvvr5NJ8-F0L0DaBmm1Ucmh5/w400-h289/RCECAP+013.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">很明显,公司大部分的资金来源都是源自于sukuk</span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><br /></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgd79CMlfPPScZ2JtELoNpTiX9miedpaVrd7R0C8lEy4MjO56a3ZH7WDnRDSiN-U9NG-oLRiVv7CMCu68l56yaARqH3R0hQ0O_prsDpyJdqIY1DRSeZXIoICIuB_QNdASE_Ohz0/s657/RCECAP+014.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="467" data-original-width="657" height="284" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgd79CMlfPPScZ2JtELoNpTiX9miedpaVrd7R0C8lEy4MjO56a3ZH7WDnRDSiN-U9NG-oLRiVv7CMCu68l56yaARqH3R0hQ0O_prsDpyJdqIY1DRSeZXIoICIuB_QNdASE_Ohz0/w400-h284/RCECAP+014.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">公司的借贷比例有逐渐开始走低,是好的。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpaRqJV2BMXqukgZ4-f-qYhT-N1-y7Hoi895iLxdtZiJgEx1pNYUaqBI864fe0LjDK0fzw-ks5veJPogQrdp_i33SmY487SELIim9MC8T90Gj2aA5t-AyMaP1I1z9fPiMQH36p/s650/RCECAP+015.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="461" data-original-width="650" height="284" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpaRqJV2BMXqukgZ4-f-qYhT-N1-y7Hoi895iLxdtZiJgEx1pNYUaqBI864fe0LjDK0fzw-ks5veJPogQrdp_i33SmY487SELIim9MC8T90Gj2aA5t-AyMaP1I1z9fPiMQH36p/w400-h284/RCECAP+015.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">越多越好就对了,整体走势还是非常美。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsUEnwqg7vEi73-nHquHZJZabpDuLm7xiWDS1yAt30PFyB8hrbSJE0zhcWeLOXNbOJ4ubOLnhHwG7ZLNE7F-Nny5vACDU5lECRpQ6tA_w_CsG2Mb46EayM9cIoEHFiVJp22ZHK/s640/RCECAP+016.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="462" data-original-width="640" height="289" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsUEnwqg7vEi73-nHquHZJZabpDuLm7xiWDS1yAt30PFyB8hrbSJE0zhcWeLOXNbOJ4ubOLnhHwG7ZLNE7F-Nny5vACDU5lECRpQ6tA_w_CsG2Mb46EayM9cIoEHFiVJp22ZHK/w400-h289/RCECAP+016.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">这个是公司过去派发股息的记录,虽然说公司属于高股息股,但是公司的派法率其实不高的,所以如果公司要,股息有能力比现在高3倍。。(但是你就慢慢等吧,能派不代表要派=。=)</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhim7XuX92ATVpR-zhsQAJ4x_Es5rmoRV1VUWBPeh0Uz6L0DdHtkeVGWdKZDeMA7FfcnSRk6bB1NzHw7GXyFFkO3SLVFDE6L1aCrShPKtcJJMZBf9h9Mg6VZe7jqbQ7P_jVTuTu/s642/RCECAP+017.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="463" data-original-width="642" height="289" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhim7XuX92ATVpR-zhsQAJ4x_Es5rmoRV1VUWBPeh0Uz6L0DdHtkeVGWdKZDeMA7FfcnSRk6bB1NzHw7GXyFFkO3SLVFDE6L1aCrShPKtcJJMZBf9h9Mg6VZe7jqbQ7P_jVTuTu/w400-h289/RCECAP+017.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">公司的一些重点,可以看到基本上所有的数据都是非常漂亮的在成长的。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4JbAjsSkVWqpZEFe0giPXQPUIwFJG4rkgnNDLGWc_Jhhi3gff2kWukqc7I2bCtDs0ETI_FjgkRoPkUXufrf42FKhk6jz9p5Dd6J-DRB10YcRHzsZnmdD4EsP08raq7rCv3cq6/s652/RCECAP+018.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="466" data-original-width="652" height="286" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4JbAjsSkVWqpZEFe0giPXQPUIwFJG4rkgnNDLGWc_Jhhi3gff2kWukqc7I2bCtDs0ETI_FjgkRoPkUXufrf42FKhk6jz9p5Dd6J-DRB10YcRHzsZnmdD4EsP08raq7rCv3cq6/w400-h286/RCECAP+018.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">我很喜欢这个statement,就是之前的记录好,不代表能够创造未来的业绩。。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqNGc_YDMa21vkqJeH9AwCUywkVTimRMv91qsvwU8AhBLWWk9bbRZRq2OwM537JHBw1GI_X5r-qo1W3btRHs7NodqydUzbtTDp-D1-zR5ePjLgurKRZCGmf_7-s0N67oop2SsM/s642/RCECAP+019.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="465" data-original-width="642" height="290" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqNGc_YDMa21vkqJeH9AwCUywkVTimRMv91qsvwU8AhBLWWk9bbRZRq2OwM537JHBw1GI_X5r-qo1W3btRHs7NodqydUzbtTDp-D1-zR5ePjLgurKRZCGmf_7-s0N67oop2SsM/w400-h290/RCECAP+019.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">管理层非常老实的告诉大家MCO后公司的一些问题,也就是不能出门去做sales,去拿文件,IT SUPPORT要在家支援也有很大的难度等等。。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGaavppyVqDfQw3atF-LZqYJQCEGF1eRrNRbSSP2toqLmMVETsTmu5j3Mmsk8E-ibiZVf0EFCZwHJENes-QA7kEGUfZhEFx0mR_wDg6PeY_v8CtIZGvXoVkvRvJ8iuRIjrzxzZ/s667/RCECAP+020.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="468" data-original-width="667" height="281" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGaavppyVqDfQw3atF-LZqYJQCEGF1eRrNRbSSP2toqLmMVETsTmu5j3Mmsk8E-ibiZVf0EFCZwHJENes-QA7kEGUfZhEFx0mR_wDg6PeY_v8CtIZGvXoVkvRvJ8iuRIjrzxzZ/w400-h281/RCECAP+020.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">而公司也有提供暂延还款的申请,不过比较起银行,公司总共批准的暂延还款只占0.35%,也就是说基本上大部分的都是需要继续还款的,难怪公司的业绩还能保持到差不多。。</span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjo4Vs1420dWaCAA3S6gBQNEV81vFz5EA8V2YXL67T9DT904ME7adTPlTEVQFqFN-3Z_y4sLYCYkGFCoe2isS4OgsS-OT1QiW2ctQQtMYPt5iFRP-1rIXqd6ltH6x0Fndx1hoMw/s687/RCECAP+021.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="461" data-original-width="687" height="269" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjo4Vs1420dWaCAA3S6gBQNEV81vFz5EA8V2YXL67T9DT904ME7adTPlTEVQFqFN-3Z_y4sLYCYkGFCoe2isS4OgsS-OT1QiW2ctQQtMYPt5iFRP-1rIXqd6ltH6x0Fndx1hoMw/w400-h269/RCECAP+021.jpg" width="400" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;">不过好处是。。管理层有表示目前的生意已经回到MCO之前的LEVEL了,所以如此看来,接下来的这个季度可能还是会有少许影响,但是过后开始就正常化了。。</span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><br /></span></div><div class="separator" style="clear: both; text-align: left;"><span style="font-size: medium;"><b><span style="color: #2b00fe;">过后就是由MSWG向管理层发问的一些重要问题和公司管理层的回应,大家都可以查看下。。</span></b></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4NuvgIh9jN0JTIPjK9KJ8uy-SRyuKEC1GItd4PD0owgPWXBKZxGhcUNk4FmRVIGQwZOB1vuemlGhDncJQ5b-qCH3Be9ThoHBfDyWVxaPOYhMVXI4LWUEHkULqbsIPO3ssF64Z/s674/RCECAP+022.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="419" data-original-width="674" height="249" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4NuvgIh9jN0JTIPjK9KJ8uy-SRyuKEC1GItd4PD0owgPWXBKZxGhcUNk4FmRVIGQwZOB1vuemlGhDncJQ5b-qCH3Be9ThoHBfDyWVxaPOYhMVXI4LWUEHkULqbsIPO3ssF64Z/w400-h249/RCECAP+022.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJudxUVYgz6fQ9unnMzk3f5tuKw5AHg348dXdKwm4iVkwsSzaKf_b4mhFOXcCUqsjrTpKn4H8BZMon7z1VhIKg6LO2rNOvHZLAWGglR0ndr2csMpbt6nqbBKwxxkzSToS-rrW3/s659/RCECAP+023.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="335" data-original-width="659" height="204" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJudxUVYgz6fQ9unnMzk3f5tuKw5AHg348dXdKwm4iVkwsSzaKf_b4mhFOXcCUqsjrTpKn4H8BZMon7z1VhIKg6LO2rNOvHZLAWGglR0ndr2csMpbt6nqbBKwxxkzSToS-rrW3/w400-h204/RCECAP+023.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgzBhlg7XMwiCn2112550_wNdmOWPRL3mW-zKLHHlaOS9AQlGrcKH3UZ7eY_Isqz8Dmpjf0owHmWjLsvEjh60JIrOhC8Bb2Axh12MANrHJUGRIiuE3Bfe3uaVFzhspBP062w1ug/s632/RCECAP+024.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="400" data-original-width="632" height="254" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgzBhlg7XMwiCn2112550_wNdmOWPRL3mW-zKLHHlaOS9AQlGrcKH3UZ7eY_Isqz8Dmpjf0owHmWjLsvEjh60JIrOhC8Bb2Axh12MANrHJUGRIiuE3Bfe3uaVFzhspBP062w1ug/w400-h254/RCECAP+024.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEig6HZmw7FxypI5VVZuUmIwzDnAjqi7Nrwzz_ml7DSUT2VWcbUkw3tBSyZgXiGPe06KDl-Oa3jTSS7ui5jU5K_mmzs7V4Th7bBz-gdxl_pQms1KkxrOJOPP7cAz7cDtRkgFmi6S/s691/RCECAP+025.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="462" data-original-width="691" height="268" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEig6HZmw7FxypI5VVZuUmIwzDnAjqi7Nrwzz_ml7DSUT2VWcbUkw3tBSyZgXiGPe06KDl-Oa3jTSS7ui5jU5K_mmzs7V4Th7bBz-gdxl_pQms1KkxrOJOPP7cAz7cDtRkgFmi6S/w400-h268/RCECAP+025.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYr40r-HwEHglYhO-gHGD_99zqw4Yg5QQqAdbBvjoY_txbw1jwn_YoswIjxGGx-seNqMrMhfPj74MVcARwi6Af2amBy6GL2csi9dPlUi_T1kt_p5AeoYE_euCWE-N9Y3EjO-XM/s678/RCECAP+026.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="464" data-original-width="678" height="274" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYr40r-HwEHglYhO-gHGD_99zqw4Yg5QQqAdbBvjoY_txbw1jwn_YoswIjxGGx-seNqMrMhfPj74MVcARwi6Af2amBy6GL2csi9dPlUi_T1kt_p5AeoYE_euCWE-N9Y3EjO-XM/w400-h274/RCECAP+026.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxDW3Vtgs2kpjF8V5wrCFJvSvjsbnWqI196kuKCNA3nMRDyMLuOtNyl0Q9eBalGZPyyEe-ykbD1euT_Xc7JC26sr04bzVhnV1sPj1sRKMYO8do3v5w0i66havhbxQn-aPHnakZ/s653/RCECAP+027.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="435" data-original-width="653" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxDW3Vtgs2kpjF8V5wrCFJvSvjsbnWqI196kuKCNA3nMRDyMLuOtNyl0Q9eBalGZPyyEe-ykbD1euT_Xc7JC26sr04bzVhnV1sPj1sRKMYO8do3v5w0i66havhbxQn-aPHnakZ/w400-h266/RCECAP+027.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqmWgoNC5xaTBhVILp7HC7foCPFpP-WtY7-oG4w6lBiQMjjFD2F7y0vSx2nR5QEvdkEiV60EAGnXQxyyV4I6YRhk8XY1I-kZq2QVT8EsCQKFdEk45Lob8RJUFbeCRDVEeXUZpf/s628/RCECAP+028.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="218" data-original-width="628" height="139" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqmWgoNC5xaTBhVILp7HC7foCPFpP-WtY7-oG4w6lBiQMjjFD2F7y0vSx2nR5QEvdkEiV60EAGnXQxyyV4I6YRhk8XY1I-kZq2QVT8EsCQKFdEk45Lob8RJUFbeCRDVEeXUZpf/w400-h139/RCECAP+028.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXvdABzF-P7cP36iJMe23tN4FZyMbW-ydAc12-ZDMzXpyIwqEzZYJX63sWMxClj9JStk49Hvzq2XquRdlMf56wLhfexvvbTD0FE9r52DH6jZikg7jYhXyTVbXyqTR3U4tRFe5x/s671/RCECAP+029.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="423" data-original-width="671" height="253" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXvdABzF-P7cP36iJMe23tN4FZyMbW-ydAc12-ZDMzXpyIwqEzZYJX63sWMxClj9JStk49Hvzq2XquRdlMf56wLhfexvvbTD0FE9r52DH6jZikg7jYhXyTVbXyqTR3U4tRFe5x/w400-h253/RCECAP+029.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYqQhMb1dPTh7eUZdogceHXpfxUHfTODiilyBZ-TOsnW-WMjhAGQcM_dFrmdC8qOHdqxOjccpBSCDyNjCfe85NPgqLjvy2GlJwQE6B32V5HjkMvwzabTNC1qMnZQ512xltcqVv/s664/RCECAP+030.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="460" data-original-width="664" height="278" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYqQhMb1dPTh7eUZdogceHXpfxUHfTODiilyBZ-TOsnW-WMjhAGQcM_dFrmdC8qOHdqxOjccpBSCDyNjCfe85NPgqLjvy2GlJwQE6B32V5HjkMvwzabTNC1qMnZQ512xltcqVv/w400-h278/RCECAP+030.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiz-eLJ580C8wozvEptHM18GUiFIXGJEDMrVHBSGqaytzk7RJldIXHsKyfBoiR1Qw2uSdW5-CokLTCaB2l5gCFqClTPGHcXb5UYANcBqJoD1MDqTJalENTYXHTRyjXaYeCPqKSr/s634/RCECAP+031.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="427" data-original-width="634" height="270" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiz-eLJ580C8wozvEptHM18GUiFIXGJEDMrVHBSGqaytzk7RJldIXHsKyfBoiR1Qw2uSdW5-CokLTCaB2l5gCFqClTPGHcXb5UYANcBqJoD1MDqTJalENTYXHTRyjXaYeCPqKSr/w400-h270/RCECAP+031.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh58fAShddHnbviXeo3iYaPsy5TOg_nUpUdmADKWSsHR8t3VXM7g7KoIsOVBaIYZ8fgEy9wB8V7LfKgb8kHQQZkqQHYaV7yAS3Ta-HoWJxlviMKye_Z394Lfgf8oTBXhHGWYD7Y/s644/RCECAP+032.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="330" data-original-width="644" height="205" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh58fAShddHnbviXeo3iYaPsy5TOg_nUpUdmADKWSsHR8t3VXM7g7KoIsOVBaIYZ8fgEy9wB8V7LfKgb8kHQQZkqQHYaV7yAS3Ta-HoWJxlviMKye_Z394Lfgf8oTBXhHGWYD7Y/w400-h205/RCECAP+032.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjg6qgLporjY4UPzsuSEUAna2zS5EDalJn6MLsJyRxb4lsANwCFU1m056QtUShswS7exiWzrWGZwp7yxYIV_jcpKW5roQQz4Q64OWrJ5xjM6sPY2HdhGFu67mHC5yzBM3nP-CGW/s653/RCECAP+033.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="459" data-original-width="653" height="281" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjg6qgLporjY4UPzsuSEUAna2zS5EDalJn6MLsJyRxb4lsANwCFU1m056QtUShswS7exiWzrWGZwp7yxYIV_jcpKW5roQQz4Q64OWrJ5xjM6sPY2HdhGFu67mHC5yzBM3nP-CGW/w400-h281/RCECAP+033.jpg" width="400" /></a></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><br /></span></div></div><span style="font-size: medium;"><span style="color: blue;"><b>今天股东大会的重点如下。。</b></span><br /></span><div><span style="font-size: medium;"><span style="color: magenta;">-公司在2020财政年获得5.3%的贷款成长,而管理层认为公司的生意不属于周期性的业务,所以2021财政年的成长预计可以跟行业平均值一致,公司也继续专注在贷款的素质而非贷款的数目。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-公司的资金成本从2019财政年的5.1%至6.3%,降低至4.2%至5.7%,主要原因是OPR的影响,当OPR有任何调整,公司的借贷成本也会因此而有所调整。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-MSWG问到,在当下的低利息环境,公司有一笔价值大概4亿1472万的存款存放在金融机构里,是否有更好的方法让这笔钱有更大的贡献,而公司表示这笔钱主要是之前的sukuk
program的抵押相关数目,目前虽然放金融机构,但是他们依然提供一个有竞争力的利息回报,不过管理层没有表示这个利息回报是多少。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-公司在2021财政年第一季的impairment有所提高,这个主要是research house评估当下的经济前景预测并根据PFRS 9的指南做出的拨备。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-公司2020财政年的GIL有所提升,从之前的7.4%下降至7.1%,但是比较起银行来说,貌似依然是偏高,但是管理层表示公司的系统是透过自动扣薪个人贷款,而银行则有许多类别,所以大家的产品不一样,无法比较。但是GIL率是很重要的,而目前为止并没有发现明显或异常的情况。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-公司对比起其他的银行,有什么优势?为何公务员会选择RCECAP?公司的优势是速度,对比起银行,RCE可以在24-48小时内就搞定贷款的申请。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-目前公司的市场份额,大概就是每20个公务员借贷,就有1个是RCECAP的顾客,所以变相来说,就是5%左右的市场份额,而公司也不是直接与MBSB和BANK RAKYAT为直接竞争对手,而两者的差别是他们的资金来源更低廉,而RCE则以速度取胜。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-公司有获得一个reward关于资产素质,当资产素质较高,公司可以获得更低成本的资金来源,也可以让公司的NPL更低,而公司的评级也获得提升,从AA3提升到AAA,这个主要是资产素质较高的方针奏效。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-股东问起公司未来的成长方向和公务员的借贷是否已经到了饱和阶段,管理层表示公务员的贷款需求并没有饱和,而公司未来的发展依然是贷款素质,因为这样公司才能有一个可持续性的生意,而公司未来的目标是以教育顾客贷款责任为主,这样可以减低呆账的机率。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-online的借贷生意如loan street和i money,不过公司认为继续与他们合作的意义不大,而公司自己的portal也已经准备好,未来就是看顾客是否想要使用网络平台,不过公司的策略依然是有专业的人提供服务,这个也是公司的优势之一。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-虽然公司无法获得CCRIS的使用权,但是管理层表示in
house credit
scoring系统也已经足够公司去评估一个贷款的好坏,虽然无法使用国家银行的CCRIS,但是管理层表示其实有第三方的CCRIS报告可以查阅,所以这个也不是一个对公司太大的弱势。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-公司所有的贷款,顾客都必须符合可以自动扣薪还款的条例,公司才会批准该贷款,而对于无法还款的顾客,公司的做法跟其他银行是一样的,会用合法的方式去追账。</span></span></div><div><span style="font-size: medium;"><span style="color: magenta;"><br /></span></span></div><div><span style="font-size: medium;"><span style="color: magenta;">-股东问起公司是否有进军公众贷款的想法,不过管理层表示如果投资者有超过十年,应该也记得之前公司曾经有试过进军公众贷款可惜不太成功,所以目前会专注在公务员贷款,因为这个可以自动扣薪还贷,对于公司来说是较为稳定和可预测。</span></span></div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5-wbe5R3lviWj9j1B4BCMQIXbdgOi9gRaY-U1ctN-obNOSYSRncgwRC2pzcWB9ctE2UFsFHThMmVy6flAm34PkKp7Moe1D9Kjjndgr-SctBrGYe54tWuCZG9Pood3XuESvwgA/s812/RCECAP+SHARE+PRICE.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="490" data-original-width="812" height="386" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5-wbe5R3lviWj9j1B4BCMQIXbdgOi9gRaY-U1ctN-obNOSYSRncgwRC2pzcWB9ctE2UFsFHThMmVy6flAm34PkKp7Moe1D9Kjjndgr-SctBrGYe54tWuCZG9Pood3XuESvwgA/w640-h386/RCECAP+SHARE+PRICE.JPG" width="640" /></a></span></div><span style="font-size: medium;"><b><span style="color: blue;">RCECAP(9296)</span></b><br /><b><span style="color: blue;">股价:RM1.93</span></b><br /><b><span style="color: blue;">PE:6.7+-</span></b><br /><b><span style="color: blue;">DY:5.7%</span></b><br /><b><span style="color: blue;">ROE:15%</span></b><br /></span><div><span style="font-size: medium;"><br /></span></div><span style="font-size: medium;">总的来说,从这次股东大会得到的资讯,我对公司的未来依然保持正面的,而公司的的一些经济数据来看,其实目前也非常吸引,PE又低,DY和ROE也合理,重点是他的这个DY其实只派发了35%左右而已,如果好像那种成熟公司100%派发,就非常粗了,但是这个就只有慢慢等了,公司目前还在成长阶段,所以能够派出这样的股息,我个人已经非常满意了,不然我也不会买到进30大股东。但是值得注意的是,我相信今年的业绩会暂时缓一缓了,毕竟MCO确实有影响到他1-2个季度,所以估计今年是休养生息的一年的,但是只要总体来说大概维持在那边,我其实就看开了。至于我来说,手中的票,会继续持有,因为在好的价钱买到好的公司还买到进30大股东,算是千年难得的机遇了,所以不会随便放弃这个优势,也会持续收取股息来把平均价拉低,再把股息再投入,持续让股权一步一步扩大,前提是我其他个股没有遇到问题,需要套现他来救命啦XD。而目前公司最大的问题是股价太稳太闷不过我相信一个道理,只要公司持续交出好成绩,慢慢的投资者信心充足,那么供应越来越少,需求越来越多的时候,就是股价飙的时候了,本身会继续耐心等待哪一刻的到来,最重要是公司能够稳住他的业绩,那么机会是非常大的,这只股虽然比较起手套来说,是很慢,但是稳定得来每年能够成长10%以上,却还是做得到的,加上股息又高,对我这种喜欢稳定的人来说,确实是天作之合,希望他接下来能够继续保持着成长,那么我的身家也会跟着慢慢来比较快的继续稳健增长咯,有时候投资不需要太复杂的,简简单单走着去,我们会不知不觉看到,原来已经走到那么远了,一起加油咯:)</span><div><div><span style="font-size: medium;"><br /></span><div class="separator" style="clear: both; text-align: center;"><span style="font-size: medium;"><span style="text-align: left;"><span style="color: red;">写这篇文章的时候我个人是持有该公司股份,但是请</span></span><span style="text-align: left;"><span style="color: red;">别看到我的文章就胡乱以为我叫你买或卖,整篇文章并没有任何买卖建议,或推高股压低价的其他企图,单纯分享我的功课,</span></span><span style="text-align: left;"><span style="color: red;">本人“怒”不对你的盈亏负任何责任,谢谢。</span></span><br style="text-align: left;" /></span><div class="separator" style="clear: both;"><span style="font-size: medium;"><br /></span></div><div style="font-family: "times new roman"; text-align: left;"><div style="margin: 0px;"><div><div style="margin: 0px;"><div><div style="margin: 0px;"><span style="font-size: medium;"><span style="color: blue;">你的一个小小的like或share,是让我们用心整理更多好文章的最佳鼓励和动力哦^。^</span></span></div></div><div><div style="margin: 0px;"><span style="font-size: medium;">HAPPY INVESTING</span></div></div><div><div style="margin: 0px;"><span style="font-size: medium;">BY ~ 第一天</span></div><div style="margin: 0px;"><span style="font-size: medium;">部落格: <a href="https://windscopo.blogspot.com/">https://windscopo.blogspot.com</a></span></div><div style="margin: 0px;"><span style="font-size: medium;"><br /></span></div></div><div><div style="margin: 0px;"><span style="font-size: medium;">面子书专页: <a href="https://www.facebook.com/%E7%AC%AC%E4%B8%80%E5%A4%A9%E6%8A%95%E8%B5%84%E7%90%86%E8%B4%A2%E6%97%A5%E8%AE%B0-427876764024658/?">https://www.facebook.com/第一天投资理财日记-427876764024658/?</a></span></div><div style="margin: 0px;"><span style="font-size: medium;"><br /></span></div><div style="margin: 0px;"><span style="font-size: medium;">youtube频道: <a href="https://www.youtube.com/channel/UCs-9Pau2S8XGANg_CZ0bWFQ">https://www.youtube.com/channel/UCs-9Pau2S8XGANg_CZ0bWFQ</a></span></div><div style="margin: 0px;"><span style="font-size: medium;"><br /></span></div><div style="margin: 0px;"><span style="font-size: medium;">面子书群组: <a href="https://www.facebook.com/groups/1399899867001472/">https://www.facebook.com/groups/1399899867001472/</a></span></div></div></div></div></div></div></div></div></div></div><p><span style="font-size: medium;"><br />https://windscopo.blogspot.com/2020/09/rcecap-22-9-2020-e-broadcast.html</span></p>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-18593537780787055342020-07-08T21:42:00.000+08:002020-07-08T21:42:27.073+08:00RCECAP (9296) RCE资本挑战RM2.10/敏源<br />
<a name='more'></a><br /><br />国家银行于周二再次降息25个基点,牵制着富时隆综指交投走势,按日跌0.65%。<br /><br />RCE资本(RCECAP,9296,主板金融股)于7月7日闭市时反弹了。它于闭市时收1.99令吉,按日涨7仙或3.65%。<br /><br />RCE资本的30分钟图表走势,于7月7日的交投走势突破它的顶头阻力线(B1:B2)。<br /><br />它的30分钟平滑异同移动均线指标(MACD),于7月7日的交投走势处于一个调整的格局。<br /><br />它处于“0”支撑线上波动,RCE资本的后市交投走势,或会出现一段短线回试下限支撑线的支撑(B1:B2)。<br /><br />RCE资本的日线图表走势于回试后,或会显现一段反弹走势,它或会挑战2.00-2.10令吉的阻力水平。<br /><img alt="" height="481" src="https://www.enanyang.my/sites/default/files/styles/media_image/public/2020-07/200708A0701.jpg?itok=Y64mgag5" width="690" /><br />免责声明<br /><br />本文纯属技术面分析,仅供参考,并非推荐购买。投资前请咨询专业金融师。<br /><br />https://www.enanyang.my/行家论股/rce资本挑战rm210敏源Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-55505846542869907732020-06-17T23:34:00.000+08:002020-06-17T22:58:18.496+08:00RHB Research recommends clients to buy these stocks<br />
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KUALA LUMPUR (June 17): RHB Research recommended a list of six stocks to their clients today. These stocks are in different sectors from auto to construction, following the recent release of the financial results and new contract win.<br />
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RHB Research's buying list today comprises Gadang Holdings Bhd, RCE Capital Bhd, Allianz Malaysia Bhd, YTL Power International Bhd, Bermaz Auto Bhd and Malayan Cement Bhd.<br />
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RHB Research has upgraded Gadang from “neutral” to “buy” with a target price (TP) of 60 sen from 42 sen previously, following the announcement of the RM81.18 million East Coast Rail Link (ECRL) project wins in late May.<br />
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The counter is trading unchanged at 46.5 sen at the time of writing.<br />
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With the ECRL wins, Gadang’s order book stood at RM958 million across two years, while tender book sat at RM1.6 billion.<br />
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“With the ECRL jobs win announcement, sentiment is improving,” RHB Research said. “Our previous 30% sum-of-parts discount is removed, unmasking good upside.”<br />
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The research house estimated its project wins to amount to RM500 million for the financial year ending May 31, 2021 (FY21).<br />
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Gadang's other key construction jobs include related works for the Mass Rapid Transit Line 2 (MRT2), Tun Razak Exchange, and Cyberjaya Hospital developments.<br />
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RHB Research also told clients to keep buying RCE Capital Bhd as it has raised the TP to RM2.20 after the non-bank lender's latest results announcement.<br />
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The higher target price, the research house said, has accounted for its solid asset quality, the 15% return on equity, and its 6% dividend yield estimates for the financial year ending March 31, 2021 (FY21).<br />
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The counter has gained seven sen or 3.87% to RM1.88, below its end-FY20 book value of RM1.92.<br />
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“We gather that under 1% of RCE borrowers are on the six-month loan payment moratorium.<br />
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“Notwithstanding, collections via salary deduction have been stable and asset quality remained sound with no spike in non-performing loan (NPL) ratio,” said the stockbroking house.<br />
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Allianz Malaysia Bhd was another financial stock that RHB Research recommended clients to buy more. Allianz was the research house's top pick in the insurance sector with TP of RM16.70. The counter dropped 12 sen or 0.84% at RM14.18 at the time of writing.<br />
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But the stockbroking firm noted that it might tweak its earnings forecasts and TP pending today’s results briefing, although “underlying operations remained fairly unscathed during the quarter” as the recent weak quarterly results are within expectations.<br />
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Power producer cum telco YTL Power International Bhd was another stock that RHB Research recommended given the group’s attractive dividend yield of 7%.<br />
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It has maintained its "buy" call with unchanged TP of 86 sen. But the TP has not imputed the possible impact of the acquisition of Tuaspring assets in Singapore. The utility stock is trading down 1.5 sen or 2.16% at 68 sen.<br />
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The stockbroking firm noted that the TP of 86 sen has taken into account of YTL International’s narrower operating losses in the financial quarter ended March 31, 2020 (3QFY20) for its Singapore utility venture and the telco business under the brand “Yes 4G”, and possible headwinds it would encounter.<br />
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RHB Research said the group’s earnings growth for the financial year ending June 30, 2021 (FY21) should be fuelled by the maiden contribution from its 470MW Jordan plant, while the financial closure of its 80%-owned 1,320MW Tanjung Jati power plant in Indonesia could be a re-rating catalyst.<br />
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“We believe Wessex Water (YTL Power’s water supply outfit in the UK) is still capable of anchoring the bulk of its dividend payments,” it said. The current share price reflects a historical dividend yield of over 7%.<br />
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On Mazda car distributor Bermaz Auto Bhd, RHB Research maintained a buy TP of RM1.80, against its share price of RM1.52, as the Mazda car distributor has seen its sales orders surged after the tax exemption announcement by the Malaysian government.<br />
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However, it noted that Bermaz might face a hiccup on launching new models which will be delayed to 2021.<br />
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According to RHB Research, Bermaz’s management has set a sales target of 11,500-12,000 and 1,800-2,000 units for its Malaysia and Philippines operations, it said, versus the breakeven of 6,000 units in Malaysia and 1,200 units in the Philippines per year.<br />
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“The group will be entering cash preservation mode — to build buffers during this challenging time, and to fund potential merger and acquisitions,” the research house said.<br />
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RHB Research, meanwhile, lowered its buy TP for Malayan Cement Bhd to RM2.85 from RM3. However, it still recommended clients to invest in the cement maker amid expectation that construction activities will be normalised as well as expectations of a swing to profit next year. Furthermore, it is enjoying low fuel costs.<br />
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However, the stock is trading up eight sen or 3.17% at RM2.60.<br />
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The research house expects Malayan Cement’s results to bottom out in the upcoming quarters as construction activities normalise, coupled with future efficiency gains from the current operational overhaul under YTL Cement.<br />
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“We gather that bulk cement average selling price held up at RM240.00-RM250.00/tonne post the MCO, with the Rawang plant’s closure and healthy backlog of construction projects lending further support to supply-demand dynamics,” it said.<br />
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“Key input costs, such as fuel, coal, and petroleum coke also remained benign at three-year lows,” it added.<br />
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http://www.theedgemarkets.com/article/rhb-research-recommends-clients-buy-these-stocksUnknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-23918011806373204862020-06-17T18:08:00.000+08:002020-06-17T18:08:31.338+08:00兴业研究建议客户买入这些股<br />
<a name='more'></a>(吉隆坡17日讯)兴业研究今日向客户推荐了6只近期公布财务业绩和赢得新合约股的股项,涵盖从汽车到建筑的不同领域。<br /><br />兴业研究今日的买入名单包括嘉登控股(Gadang Holdings Bhd)、RCE资本(RCE Capital Bhd)、Allianz Malaysia Bhd、杨忠礼电力(YTL Power International Bhd)、Bermaz Auto Bhd和Malayan Cement Bhd。<br /><br />随着在5月下旬公布赢得8118万令吉的东海岸铁路计划(ECRL)合约后,兴业研究将嘉登的评级从“中和”上修至“买入”,目标价也由之前的42仙调高至60仙。<br /><br />截稿时,该股平盘挂于46.5仙。<br /><br />加上赢得ECRL的合约,嘉登两年的订单为9亿5800万令吉,竞标工程为16亿令吉。<br /><br />兴业研究表示:“ECRL合约中标消息公布后,市场情绪正在改善。我们撤了之前的综合估值法30%折价,展现良好的上升空间。”<br /><br />该研究机构估计,截至明年5月杪2021财政年将赢得5亿令吉的合约。<br /><br />嘉登的其他关键建筑工程包括捷运二号线(MRT2)、敦拉萨国际贸易中心(TRX)及赛城医院项目。<br /><br />兴业研究还告诉客户要继续买进RCE资本,并在该非银行金融机构公布最新业绩后,将目标价上调至2.20令吉,以计入截至明年3月杪2021财年稳定的资产质量、15%的投资回酬,以及6%的周息率的预估。<br /><br />该股上升了7仙或3.87%,报1.88令吉,低于2020财年末1.92令吉的账面价值。<br /><br />“不到1%的RCE借款人将暂缓6个月供款。”<br /><br />“不过,通过薪资扣款的收款一直很稳定,资产质量保持稳健,呆账比率没有上升。”<br /><br />Allianz Malaysia是兴业研究建议客户增持的另一金融股。Allianz是该研究机构在保险领域的首选股,目标价为16.70令吉。截稿时,该股跌12仙或0.84%,挂14.18令吉。<br /><br />但兴业研究表示,由于最新季度业绩疲软符合预期,且基本业务仍未受到太大影响,但可能会调整盈利预测和目标价,有待今日举行的业绩汇报会。<br /><br />兴业研究还推荐发电商兼电讯商杨忠礼电力,因该集团的7%周息率颇具吸引力。<br /><br />该机构维持“买入”评级,目标价86仙不变。但还没有计入收购新加坡Tuaspring资产可能带来效益。该公用事业股跌1.5仙或2.16%,报68仙。<br /><br />该机构补充,86仙的目标价已计入杨忠礼电力在截至3月杪2020财年季度营运亏损收窄,以及可能面对的阻力。<br /><br />兴业研究指出,该集团截至明年6月杪2021财年的盈利增长应得益于约旦470兆瓦发电厂的首次贡献,而持有80%的印尼1320兆瓦Tanjung Jati发电厂财务收尾可能成为重估的催化剂。<br /><br />“我们相信Wessex Water(杨忠礼电力在英国的供水子公司)仍有能力支付大部分的股息。目前的股价反映超过7%的历史周息率。”<br /><br />至于马自达(Mazda)汽车经销商Bermaz Auto,兴业研究维持“买入”评级,目标价1.80令吉,目前股价为1.52令吉,因为在政府宣布豁免销售税后订单激增。<br /><br />不过,Bermaz在发布新车款可能会遇到困难,新车发布将推迟至2021年。<br /><br />根据兴业研究,Bermaz管理层为大马和菲律宾业务设定了1万1500至1万2000辆和1800至2000辆的销售目标。<br /><br />“该集团将进入现金保留模式,以便在这具挑战的时期建立缓冲,并为潜在并购提供资金。”<br /><br />另外,兴业研究将Malayan Cement的目标价由3令吉下调至2.85令吉,惟仍建议客户投资这家洋灰制造商,因预期建筑活动将恢复正常,并预计该公司明年将开始获利。此外,还享有较低的燃料成本。<br /><br />该股目前报2.60令吉,起8仙或3.17%。<br /><br />该研究机构预计,随着建筑活动恢复,加上目前处于营运检修的杨忠礼洋灰带来未来效率收益,Malayan Cement的业绩将在未来几个季度触底。<br /><br />“行动限制令之后,散装洋灰平均售价维持在每吨240至250令吉,而万挠厂房关闭及建设项目的积压进一步支撑供需。”<br /><br />“燃料、煤炭和石油焦等主要投入成本仍处于3年低位。”<br /><br /><br /><br />(编译:陈慧珊)<br />
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http://www.theedgemarkets.com/article/%E5%85%B4%E4%B8%9A%E7%A0%94%E7%A9%B6%E5%BB%BA%E8%AE%AE%E5%AE%A2%E6%88%B7%E4%B9%B0%E5%85%A5%E8%BF%99%E4%BA%9B%E8%82%A1 Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-66988989788421951332020-06-17T08:54:00.003+08:002020-06-17T08:54:38.697+08:005分钟看懂 RCE CAPITAL BHD RCECAP (9296) RCE资本 2020年 Q4季报<br />
<a name='more'></a>5分钟看懂 RCE CAPITAL BHD RCECAP (9296) RCE资本 2020年 Q4季报<br /><br />
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不知不觉又等到天哥主力之一RCECAP的季报了,刚才翻查了过去几个季度的文章记录,每次RCECAP出业绩的时候天哥都是生病的,但是这一次虽然肺炎恐慌,天哥却健康到像头牛XD,所以魔咒打破了,RCECAP的上升行情应该要来了(不知道这样胡说下股价会不会比较好起叻XD),好啦,废话少说,我们直接进入分析模式吧。。</div>
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<a href="https://www.blogger.com/null" name="more"></a><h3 style="background-color: white; color: #003f6d; font-family: Arial, Helvetica, sans-serif; font-size: 20px; font-weight: normal; line-height: 20px; margin: 12px 0px;">
Quarterly rpt on consolidated results for the financial period ended 31 Mar 2020</h3>
<h3 style="background-color: white; color: #003f6d; font-family: arial, helvetica, sans-serif; font-size: 20px; font-weight: normal; line-height: 20px; margin: 12px 0px;">
<table style="font-family: Arial, Helvetica, sans-serif;"><tbody>
<tr><td class="company_name" style="font-size: 14px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px;">RCE CAPITAL BERHAD</td></tr>
</tbody></table>
<br style="color: #464646; font-family: Arial, Helvetica, sans-serif; font-size: 12px;" /><table border="0" cellpadding="0" cellspacing="0" class="formContentTable" style="font-family: Arial, Helvetica, sans-serif; width: 100%px;"><tbody>
<tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px; vertical-align: top; width: 194.358px;" width="31%">Financial Year End</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 367.691px;" width="69%">31 Mar 2020</td></tr>
<tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px; vertical-align: top; width: 194.358px;" width="31%">Quarter</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 367.691px;" width="69%">4 Qtr</td></tr>
<tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px; vertical-align: top; width: 194.358px;" width="31%">Quarterly report for the financial period ended</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 367.691px;" width="69%">31 Mar 2020</td></tr>
<tr valign="top"><td class="formContentLabel2" style="background: rgb(235, 235, 235); border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px; vertical-align: top; width: 194.358px;" width="31%">The figures</td><td class="formContentData2" style="background-color: #f7f7f7; border-bottom-color: rgb(255, 255, 255); border-left-color: rgb(255, 255, 255); border-style: solid; border-width: 0px 0px 2px 1px; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px; vertical-align: top; width: 367.691px;" width="69%">have not been audited<span style="color: navy;"></span></td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="att_table" style="border-color: rgb(223, 223, 223); border-style: solid; border-width: 1px; font-family: Arial, Helvetica, sans-serif; margin: 12px 0px; padding: 0px 12px; width: 100%px;"></table>
</h3>
<h4 style="color: #003f6d; font-size: 13px; margin: 12px 0px;">
Attachments</h4>
<h3 style="background-color: white; color: #003f6d; font-family: arial, helvetica, sans-serif; font-size: 20px; font-weight: normal; line-height: 20px; margin: 12px 0px;">
<table border="0" cellpadding="0" cellspacing="0" class="att_table" style="border-color: rgb(223, 223, 223); border-style: solid; border-width: 1px; font-family: Arial, Helvetica, sans-serif; margin: 12px 0px; padding: 0px 12px; width: 100%px;"><tbody>
<tr valign="top"><td style="font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px;" width="100%"><div class="attachment fixed" style="border-color: rgb(223, 223, 223); margin: 12px 0px; min-height: 1%; padding: 0px 12px;">
<div class="att_download_pdf" style="background: url("/FileAccess/images/ven_icon_pdf.png") left top no-repeat; border-color: rgb(223, 223, 223); border-style: none; border-width: 1px; float: left; margin-bottom: 12px; margin-right: 5px; padding: 0px 12px 0px 35px;">
<a href="https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=209678&name=EA_FR_ATTACHMENTS" style="color: #1c56fa; text-decoration-line: none;">Qtr Ann - 31 03 2020.pdf</a><br />
<span class="FootNote" style="color: dimgrey; font-family: "arial"; font-size: 11px; font-stretch: normal; font-style: italic; line-height: 11px;">462.6 kB</span></div>
</div>
</td></tr>
</tbody></table>
<div class="tabSection" style="border-color: rgb(223, 223, 223); color: #464646; font-family: Arial, Helvetica, sans-serif; font-size: 12px; margin: 12px 0px; padding: 0px 12px;">
<ul class="tabs ven_fixed" style="border-color: rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 0px 0px 1px 1px; font-weight: bold; list-style: none; margin: 0px; padding: 0px;">
<li class="ven_selected" id="tabMenu1" style="background: -webkit-linear-gradient(top, rgb(233, 233, 233), rgb(246, 248, 248)); border-color: rgb(0, 63, 109) rgb(193, 193, 193) rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 3px 1px 0px 0px; color: #003f6d; cursor: pointer; float: left; padding: 6px 12px;">Default Currency</li>
<li id="tabMenu2" style="background: -webkit-linear-gradient(top, rgb(233, 233, 233), rgb(246, 248, 248)); border-color: rgb(193, 193, 193); border-image: initial; border-style: solid; border-width: 3px 1px 0px 0px; cursor: pointer; float: left; padding: 6px 12px;">Other Currency</li>
</ul>
<div id="Tab1">
<div style="margin-bottom: 12px; margin-top: 12px;">
Currency: <strong>Malaysian Ringgit (MYR)</strong></div>
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%px;"></table>
</div>
</div>
</h3>
<h4 style="color: #003f6d; font-size: 13px; margin: 12px 0px;">
<b>SUMMARY OF KEY FINANCIAL INFORMATION</b><br /><b>31 Mar 2020</b></h4>
<h3 style="background-color: white; color: #003f6d; font-family: arial, helvetica, sans-serif; font-size: 20px; font-weight: normal; line-height: 20px; margin: 12px 0px;">
<div class="tabSection" style="border-color: rgb(223, 223, 223); color: #464646; font-family: Arial, Helvetica, sans-serif; font-size: 12px; margin: 12px 0px; padding: 0px 12px;">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%px;"><tbody>
<tr valign="top"><td class="formTableHeader" style="border-color: rgb(247, 202, 143); border-style: none; border-width: 0px 0px 3px; font-family: Arial, Helvetica, "Sans Serif"; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; width: 0px;" width="100%"><div align="center">
</div>
</td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="ven_table" style="border-collapse: collapse; border: 1px solid rgb(223, 223, 223); margin: auto; width: 100%px;"><tbody>
<tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" rowspan="5" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="21%"><br /></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="43%"><div align="center">
<b>INDIVIDUAL PERIOD</b></div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="36%"><div align="center">
<b>CUMULATIVE PERIOD</b></div>
</td></tr>
<tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="17%"><div align="center">
<b>CURRENT YEAR QUARTER</b></div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="26%"><div align="center">
<b>PRECEDING YEAR<br />CORRESPONDING<br />QUARTER</b></div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="25%"><div align="center">
<b>CURRENT YEAR TO DATE</b></div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="12%"><div align="center">
<b>PRECEDING YEAR<br />CORRESPONDING<br />PERIOD</b></div>
</td></tr>
<tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="17%"><div align="center">
31 Mar 2020</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="26%"><div align="center">
31 Mar 2019</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="25%"><div align="center">
31 Mar 2020</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="12%"><div align="center">
31 Mar 2019</div>
</td></tr>
<tr></tr>
<tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="17%"><div align="center">
<b>$$'000</b></div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="26%"><div align="center">
<b>$$'000</b></div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="25%"><div align="center">
<b>$$'000</b></div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="12%"><div align="center">
<b>$$'000</b></div>
</td></tr>
<tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>1</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Revenue</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">
72,993</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">
67,395</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">
282,609</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">
262,570</div>
</td></tr>
<tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>2</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Profit/(loss) before tax</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">
37,845</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">
33,248</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">
148,900</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">
131,089</div>
</td></tr>
<tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>3</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Profit/(loss) for the period</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">
28,324</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">
23,727</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">
110,581</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">
95,533</div>
</td></tr>
<tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>4</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Profit/(loss) attributable to ordinary equity holders of the parent</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">
28,324</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">
23,727</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">
110,581</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">
95,533</div>
</td></tr>
<tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>5</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Basic earnings/(loss) per share (Subunit)</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">
8.08</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">
6.94</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">
31.83</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">
28.02</div>
</td></tr>
<tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>6</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Proposed/Declared dividend per share (Subunit)</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="17%"><div align="right">
6.00</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="26%"><div align="right">
5.00</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="25%"><div align="right">
11.00</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabelEV" style="background-color: #f7f7f7; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="12%"><div align="right">
9.00</div>
</td></tr>
<tr valign="top"><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="2%"><br /></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="19%"><br /></td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="43%"><div align="center">
<b>AS AT END OF CURRENT QUARTER</b></div>
</td><td bgcolor="#EFEFEF" class="formTableColumnHeader" colspan="2" style="background-color: #5c0000; border: 1px solid rgb(223, 223, 223); color: white; font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: bold; line-height: 16px; padding: 4px;" width="36%"><div align="center">
<b>AS AT PRECEDING FINANCIAL YEAR END</b></div>
</td></tr>
<tr valign="top"><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="2%"><b>7</b></td><td bgcolor="#F7F7F7" class="formTableColumnLabel" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="19%"><b>Net assets per share attributable to ordinary equity holders of the parent ($$)</b></td><td bgcolor="#EFEFEF" class="formTableColumnLabel" colspan="2" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="43%"><div align="right">
1.9200</div>
</td><td bgcolor="#EFEFEF" class="formTableColumnLabel" colspan="2" style="background-color: #ebebeb; border: 1px solid rgb(223, 223, 223); font-size: 12px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 16px; padding: 4px;" width="36%"><div align="right">
1.7100</div>
<div>
</div>
</td></tr>
</tbody></table>
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这个季度是RCECAP第4个季度的业绩,营业额对比去年同季来说,成长了大概8%左右,而这个季度也是第四季,所以也算是年报来看了,累积全年的营业额,则成长了7.6%,算是非常稳健的成长了,而且是在MCO阶段,所以算是不错了的。而每股净利来说,这个季度就好料了,既然成长了高达16.4%,算是近期来成长最大的一个季度,而全年的每股净利,则成长了13.6%,所以也是非常好的一年。只能说以这个简略报的业绩来看,天哥是只能给个LIKE他了。。<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhoevdtWQea8Lj0OZ89cB0vn05Kk6DPliiWAcoc6czYCYYfysJeuc3C2JZ6kycc6phHHuND-WKn36HWP2nk0fsABFJLq-7KuJTxnldcBUi8irt7kxFN33psGg4td31OREkq0J95/s1600/RCECAP.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="708" data-original-width="1173" height="386" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhoevdtWQea8Lj0OZ89cB0vn05Kk6DPliiWAcoc6czYCYYfysJeuc3C2JZ6kycc6phHHuND-WKn36HWP2nk0fsABFJLq-7KuJTxnldcBUi8irt7kxFN33psGg4td31OREkq0J95/s640/RCECAP.JPG" width="640" /></a></div>
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再创佳绩,他跟KAREX其实非常像的,就是连续十多20个季度往同一个方向跑,他就是十多20个季度持续成长,每个季度都青青的,但是KAREX就完全相反,十多二十个季度都保持着红当当的表现,其实天哥选好股的概念很简单,业绩继续成长,PE还在合理范围,股息稳定派发,继续增加,长期下来,这样的股不能让投资者赚钱我都不会了。。</div>
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公司在2015年重组完毕后,业绩就几乎每年稳健的成长着了,每年的业绩都是好像楼梯那样往上怕,今年又是创记录的一年了,而且重点是,GROSS
PROFIT MARGIN 39.1%不出奇,但是NETT PROFIT
MARGIN居然可以39.1%的话,我只能说这家公司真的是非常好赚的一家公司了。。</div>
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不过简单版本的资讯只能参考,不能尽信,要准确还是一定要进去完整版本的才可以弄清楚的。。<br />
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这个是完整版本的业绩,为什么这个季度那么好的,我们不妨留意他的利息收入是提高了很多的,代表他借了更多的钱给人家,这样利息收入肯定是多的,那么他钱哪里来的呢?他的业务就是跟人家借钱来借给人,所以他的利息支出按理说也是要提高的,但是。。这个季度居然只是稍微提高少许,就证明了一点,降息缓冲了他的利息支出变少了,所以利息收入增加,利息支出变少,自然就是好事来的,他是降息的一个受益者。但是impaiment跟预测一样,是稍微提高了,但是还在可以控制的范围,所以这个季度真的算是大跌眼睛,比预期好太多了。。</div>
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这个是他的资产负债表,很容易我们就看到他总借贷出去的资金,增加了9000多万,然后现钱和储备金也是多了整个亿,当然他总借贷也是增加了整个亿咯,但是借多了,利息支出却没有增加,肯定是好事来的咯。。连每股净值也增加了那么多,是非常好的,但是说真的他的现钱以前刚刚好的,现在拿那么多出来准备,比较亏利差,但是这种行情多点现金在手或许也是好事来的,就看管理层如何去发挥咯。。</div>
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几乎每家公司都说COVID的了XD,不过他有明确的说明成长可能会被COVID影响到,但是他们会有更多的campaigns来维持生意的成长,这个也表示说,会有更多的promotion鼓励借贷,而管理层也对未来保持一样的看法,会比较谨慎的对待(其实一路来都是同一个说法的,还不是连续成长了十多二十个季度=。=),然后下个财政年也会继续赚钱,所以投资者们不用担心咯~。~</div>
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<span style="color: blue;"><b>RCECAP(9296)</b></span><br />
<span style="color: blue;"><b>股价:RM1.81</b></span><br />
<span style="color: blue;"><b>PE:6.15+-</b></span><br />
<span style="color: blue;"><b>DY:6.08%</b></span><br />
<span style="color: blue;"><b>ROE:15.33%</b></span><br />
<b><span style="color: blue;"><br /></span></b>虽然现在的投资情绪都更倾向与短线投机,追逐趋势,各大板块因为一些消息就突然上升,短期内赚个5-10%,让投资者相当爽。但是天哥应该还是比较另类,在任何时候,天哥都喜欢在股市里找寻一些严重低估的,然后股息率够高并且稳定的,加上业绩有持续的在进步的公司,买入并长期持有,除非他去到高估,或者业绩放缓,否则就是一辈子不卖。有些人会觉得这样很慢,每次天哥谈起RCECAP的时候,都有朋友说这只很龟速,记得当初买入1.2的时候,人家说很慢,慢慢的起到1.4的时候,网友说这只股是不会动的,再慢慢起到1.6的时候,很多人说这只股是乌龟在爬,现在去到1.8了,看起来好像没成长很多,但是这2-3年来收到的股息,2-3年翻一番也算是不错的投资咯,这种速度算是这样了咯。。曾经有人问过巴菲特,其实你的方法低估时大力买入然后一直耐心持有那么简单,按理说人人都做得到,但是为什么没有人有你的成就?巴菲特回答说,应该就是没有人愿意慢慢的致富吧。。<br />
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总的来说,其实以该公司的基本面数据来看,持续成长并且派发高额股息的公司只有PE6.15,这么便宜我都不会了XD,要不是我钱不够,不敢乱来,否则的话,每个业绩捞一点捞一点的话,都不懂怎么算了。但是虽然天哥钱不多,但是最起码我们也是该公司的30大股东之一,从天哥开始留意他到现在,也起了不少,股息也收了不少,算是这样了咯,其实股票要赚钱,并没有想象的那么困难,只是在这么投机性的环境,我们是否有这个耐性和毅力,不被其他人影响,坚持自己的慢慢致富之路而已。。<br />
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共勉之吧。。话说看了那么久,你还不LIKE等什么哦,免费文章看了给点鼓励来嘛~。~<br />
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<span style="color: blue;">你的一个小小的like或share,是让我们用心整理更多好文章的最佳鼓励和动力哦^。^</span></div>
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BY ~ 第一天</div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-48588756871102415322020-06-16T22:18:00.001+08:002020-06-16T22:18:23.522+08:00RCECAP (9296) RCE资本 RCE CAPITAL BERHAD 2020Q4 季度报告 <br />
<a name='more'></a>RCECAP (9296) RCE资本 RCE CAPITAL BERHAD 2020Q4 季度报告 <br /><br /><br />
<div class="margint30" id="blogcontent" itemprop="articleBody">
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<strong>RCE CAPITAL BERHAD (9296)</strong></div>
<table align="center" border="1" cellpadding="0" cellspacing="0" style="width: 387px;">
<tbody>
<tr>
<td style="width: 236px;">
Name<br />
</td>
<td style="width: 151px;">
RCE CAPITAL BERHAD<br />
</td>
</tr>
<tr>
<td style="width: 236px;">
Stock Code<br />
</td>
<td style="width: 151px;">
9296<br />
</td>
</tr>
<tr>
<td style="width: 236px;">
市值<br />
</td>
<td style="width: 151px;">
680M<br />
</td>
</tr>
<tr>
<td style="width: 236px;">
股票的总数<br />
</td>
<td style="width: 151px;">
375M<br />
</td>
</tr>
<tr>
<td style="width: 236px;">
PE as at 28/5/19<br />
</td>
<td style="width: 151px;">
6.15<br />
</td>
</tr>
<tr>
<td style="width: 236px;">
ROE as at 28/5/19<br />
</td>
<td style="width: 151px;">
15.33<br />
</td>
</tr>
<tr>
<td style="width: 236px;">
NTA as at 28/5/19<br />
</td>
<td style="width: 151px;">
1.92<br />
</td>
</tr>
<tr>
<td style="width: 236px;">
DY as at 28/5/19<br />
</td>
<td style="width: 151px;">
4.97%<br />
</td>
</tr>
<tr>
<td style="width: 236px;">
Current price as at 28/5/19<br />
</td>
<td style="width: 151px;">
1.81<br />
</td>
</tr>
</tbody>
</table>
<div style="clear: both;">
</div>
<strong>企业背景</strong><br />
RCE资本是一家投资控股公司,主要从事融资服务,而大部分客户来自于政府公务员。旗下的三大子公司都扮演着不同的角色和贡献:<br />
<ol>
<li>
RCE Marketing Sdn Bhd(RCEM)为客户提供个人融资</li>
<li>
EXP Payment Sdn Bhd经营和管理贷款偿还的事务</li>
<li>
RCE Factoring Sdn Bhd则为工商企业提供商业融资服务</li>
</ol>
跟普遍上的融资服务相比,Rcecap采用独特的借贷与收贷机制提供贷款给公务员后再从他们的薪水里分期扣除以偿还贷款(Salary
Deduction Scheme),
所以风险可算是比其他借贷公司来得低。可是作为一家非银行金融机构,RCE资本其实在贷款方面有一定的局限。由于没有银行执照,RCE资本不可通过收取存款来获得供融资的资金,要取得便宜的资金来源也不比银行有优势。可是在目前低利率的环境中对RCE资本却是一大利好,因为低利率将大大降低公司的融资成本。<br />
Rcecap与其它金融公司最特别的不同之处在于其采用独特的借贷与收贷机制提供贷款给公务员后再从他们的薪水里分期扣除以偿还贷款 (Salary Deduction Scheme) 。这样的机制足足降低了公司面对坏账与折损的危险。<br />
概括来说,RCECAP就是合法的大耳窿,营业模式与银行相当接近,可是唯一不同的是Rcecap并不能通过收取存款来获得借贷的资金。可是也因为如此,在低利率的环境下,相比起传统的银行业务,低利率反而有助于公司获取更低利率的融资。<br />
<br />
<strong>股息政策</strong><br />
<span style="font-family: arial,helvetica,sans-serif;"><span lang="ZH-CN" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; font-size: 10pt; line-height: 107%;">公司将会在</span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; font-size: 10pt; line-height: 107%;">2019<span lang="ZH-CN">财政年维持</span>20-40%<span lang="ZH-CN">的股息政策。如果依照</span>2020<span lang="ZH-CN">年</span>110M<span lang="ZH-CN">的净利计算,</span>2020<span lang="ZH-CN">年的股息将介于</span>5.9sen<span lang="ZH-CN">至</span>11. 7sen<span lang="ZH-CN">。按照目前</span>1.81<span lang="ZH-CN">的股价,股息率将介于</span>3.26%-6.46%<span lang="ZH-CN">,对于一个成长股可说是相当吸引。</span></span></span><br />
<br />
<strong>2020Q4营业额与净利的表现</strong><br />
Rcecap的净利自2017Q1至今已经维持了16个季度的上升,这种成绩在大马的上市公司中也算是绝无仅有了。在2020Q4的营业额方面,公司的营业额成长了5.6Million
,比起同期2019Q4的67.4Million一共成长了8.3%。营业额的成长主要是因为借贷数目的提高同时带领更高的利息收入。在净利方面,即使在这个季度公司面对更高的应收账款减值拨备,公司的净利对比同期仍然稳定增长了4.6Million或19.4%。更高的减值拨备主要是为预期恶劣的经济环境以及国内生产总值的下降而有所准备。<br />
虽然对比上个季度2020Q3的31M,Rcecap的净利下降了大约2.7Million,不过这主要是因为先前提起的减值拨备而导致,对比上个季度4.7M的预期减值拨备,这个季度的预期减值拨备为8.3M,足足上升了3.5M。倘若移除这个预期减值拨备的上升,这个季度公司还是维持QoQ成长的。<br />
<table border="1" cellpadding="0" cellspacing="0" style="width: 713px;">
<tbody>
<tr>
<td style="height: 16px; width: 75px;">
<div align="center">
<strong>Revenue</strong></div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
<strong>2015</strong></div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
<strong>2016</strong></div>
</td>
<td style="height: 16px; width: 47px;">
<div align="center">
</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
<strong>2017</strong></div>
</td>
<td style="height: 16px; width: 50px;">
<div align="center">
</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
<strong>2018</strong></div>
</td>
<td style="height: 16px; width: 52px;">
<div align="center">
</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
<strong>2019</strong></div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
<strong>2020</strong></div>
</td>
</tr>
<tr>
<td style="height: 16px; width: 75px;">
<div align="center">
Quarter 1</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
30M</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
+23%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
37M</div>
</td>
<td style="height: 16px; width: 47px;">
<div align="center">
+37%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
51M</div>
</td>
<td style="height: 16px; width: 50px;">
<div align="center">
+11%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
57M</div>
</td>
<td style="height: 16px; width: 52px;">
<div align="center">
+10%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
63M</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
+6.35%</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
67M</div>
</td>
</tr>
<tr>
<td style="height: 16px; width: 75px;">
<div align="center">
Quarter 2</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
32M</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
+23%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
39M</div>
</td>
<td style="height: 16px; width: 47px;">
<div align="center">
+43%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
56M</div>
</td>
<td style="height: 16px; width: 50px;">
<div align="center">
+8.9%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
61M</div>
</td>
<td style="height: 16px; width: 52px;">
<div align="center">
+6.5%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
65M</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
+7.69%</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
70M</div>
</td>
</tr>
<tr>
<td style="height: 16px; width: 75px;">
<div align="center">
Quarter 3</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
33M</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
+24%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
41M</div>
</td>
<td style="height: 16px; width: 47px;">
<div align="center">
+39%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
57M</div>
</td>
<td style="height: 16px; width: 50px;">
<div align="center">
+10%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
63M</div>
</td>
<td style="height: 16px; width: 52px;">
<div align="center">
+6.35%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
67M</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
+8.21%</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
72.5M</div>
</td>
</tr>
<tr>
<td style="height: 16px; width: 75px;">
<div align="center">
Quarter 4</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
34M</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
+29%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
44M</div>
</td>
<td style="height: 16px; width: 47px;">
<div align="center">
+29%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
57M</div>
</td>
<td style="height: 16px; width: 50px;">
<div align="center">
+10%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
63M</div>
</td>
<td style="height: 16px; width: 52px;">
<div align="center">
+6.35%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
67M</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
+8.96%</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
73M</div>
</td>
</tr>
</tbody>
</table>
<br />
<table border="1" cellpadding="0" cellspacing="0" style="width: 716px;">
<tbody>
<tr>
<td style="height: 16px; width: 73px;">
<div align="center">
<strong>Net Profit</strong></div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
<strong>2015</strong></div>
</td>
<td style="height: 16px; width: 58px;">
<div align="center">
</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
<strong>2016</strong></div>
</td>
<td style="height: 16px; width: 49px;">
<div align="center">
</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
<strong>2017</strong></div>
</td>
<td style="height: 16px; width: 51px;">
<div align="center">
</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
<strong>2018</strong></div>
</td>
<td style="height: 16px; width: 53px;">
<div align="center">
</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
<strong>2019</strong></div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
<strong>2020</strong></div>
</td>
</tr>
<tr>
<td style="height: 16px; width: 73px;">
<div align="center">
Quarter 1</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
6M</div>
</td>
<td style="height: 16px; width: 58px;">
<div align="center">
+50%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
9M</div>
</td>
<td style="height: 16px; width: 49px;">
<div align="center">
+88%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
17M</div>
</td>
<td style="height: 16px; width: 51px;">
<div align="center">
+17%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
20M</div>
</td>
<td style="height: 16px; width: 53px;">
<div align="center">
+15%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
23M</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
+4.78%</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
24.1M</div>
</td>
</tr>
<tr>
<td style="height: 16px; width: 73px;">
<div align="center">
Quarter 2</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
5M</div>
</td>
<td style="height: 16px; width: 58px;">
<div align="center">
+100%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
10M</div>
</td>
<td style="height: 16px; width: 49px;">
<div align="center">
+80%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
18M</div>
</td>
<td style="height: 16px; width: 51px;">
<div align="center">
+16%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
21M</div>
</td>
<td style="height: 16px; width: 53px;">
<div align="center">
+7.5%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
23M</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
+18.26%</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
27.2M</div>
</td>
</tr>
<tr>
<td style="height: 16px; width: 73px;">
<div align="center">
Quarter 3</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
3M</div>
</td>
<td style="height: 16px; width: 58px;">
<div align="center">
+333%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
13M</div>
</td>
<td style="height: 16px; width: 49px;">
<div align="center">
+61%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
21M</div>
</td>
<td style="height: 16px; width: 51px;">
<div align="center">
+4%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
22M</div>
</td>
<td style="height: 16px; width: 53px;">
<div align="center">
+9.8%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
25.2M</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
+23.02%</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
31M</div>
</td>
</tr>
<tr>
<td style="height: 16px; width: 73px;">
<div align="center">
Quarter 4</div>
</td>
<td style="height: 16px; width: 57px;">
<div align="center">
11M</div>
</td>
<td style="height: 16px; width: 58px;">
<div align="center">
-45%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
6M</div>
</td>
<td style="height: 16px; width: 49px;">
<div align="center">
+250%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
21M</div>
</td>
<td style="height: 16px; width: 51px;">
<div align="center">
+9%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
23M</div>
</td>
<td style="height: 16px; width: 53px;">
<div align="center">
+3.04%</div>
</td>
<td style="height: 16px; width: 63px;">
<div align="center">
23.7M</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
+19.41%</div>
</td>
<td style="height: 16px; width: 61px;">
<div align="center">
28.3M</div>
</td>
</tr>
</tbody>
</table>
<br />
<strong>Prospects/展望</strong><br />
为了应对潜在的经济衰退以及新冠病毒引起的不确定性,公司会在不影响借贷资产素质的情况下开展更多的销售活动务求维持生意的稳定增长。目前Rcecap的PE只有区区的6而已,对比过往净利的增长,Rcecap的股价在过去三年几乎是停滞不前的。市场几乎对Rcecap的稳定表现不买账,似乎更趋向于波动剧烈的仙股。无论如何,公司无论在股息,净利的表现都是可圈可点的,对于股息还是价值投资者来说,Rcecap不失为值得注意的好股之一。<br />
<br />
<strong>Profit & Loss Account/损益表</strong><br />
<table border="0" cellpadding="0" cellspacing="0" style="width: 700px;">
<tbody>
<tr>
<td nowrap="nowrap" style="height: 21px; width: 200px;">
<strong>Rcecap</strong><br />
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="center">
<strong><em><u> 30.6.18 </u></em></strong></div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="center">
<strong><em><u> 30.9.18 </u></em></strong></div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<strong><em><u>31.12.18</u></em></strong><br />
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="center">
<strong><em><u>31.3.19</u></em></strong></div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="center">
<strong><em><u>30.6.19</u></em></strong></div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="center">
<strong><em><u>30.9.19</u></em></strong></div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="center">
<strong><em><u>31.12.19</u></em></strong></div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="center">
<strong><em><u>30.3.20</u></em></strong></div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="center">
Q1</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="center">
Q2</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="center">
Q3</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="center">
Q4</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="center">
Q1</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="center">
Q2</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="center">
Q3</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="center">
Q4</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="center">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="center">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="center">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<br />
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
<strong>Operating Revenue</strong><br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
63,235</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
64,964</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
66,976</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
67,395</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
66,938</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
70,176</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
72,502</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
72,993</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 5px; width: 200px;">
Other Income<br />
</td>
<td nowrap="nowrap" style="height: 5px; width: 61px;">
<div align="right">
3,649</div>
</td>
<td nowrap="nowrap" style="height: 5px; width: 61px;">
<div align="right">
3,876</div>
</td>
<td nowrap="nowrap" style="height: 5px; width: 68px;">
<div align="right">
4,102</div>
</td>
<td nowrap="nowrap" style="height: 5px; width: 61px;">
<div align="right">
3,866</div>
</td>
<td nowrap="nowrap" style="height: 5px; width: 61px;">
<div align="right">
4,836</div>
</td>
<td nowrap="nowrap" style="height: 5px; width: 61px;">
<div align="right">
7,024</div>
</td>
<td nowrap="nowrap" style="height: 5px; width: 68px;">
<div align="right">
5,153</div>
</td>
<td nowrap="nowrap" style="height: 5px; width: 61px;">
<div align="right">
5,235</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 48px; width: 200px;">
Interest Expense Applicable to Revenue<br />
</td>
<td nowrap="nowrap" style="height: 48px; width: 61px;">
<div align="right">
-18,526</div>
</td>
<td nowrap="nowrap" style="height: 48px; width: 61px;">
<div align="right">
-19,391</div>
</td>
<td nowrap="nowrap" style="height: 48px; width: 68px;">
<div align="right">
-20,033</div>
</td>
<td nowrap="nowrap" style="height: 48px; width: 61px;">
<div align="right">
-20,069</div>
</td>
<td nowrap="nowrap" style="height: 48px; width: 61px;">
<div align="right">
-20,353</div>
</td>
<td nowrap="nowrap" style="height: 48px; width: 61px;">
<div align="right">
-21,238</div>
</td>
<td nowrap="nowrap" style="height: 48px; width: 68px;">
<div align="right">
-20,320</div>
</td>
<td nowrap="nowrap" style="height: 48px; width: 61px;">
<div align="right">
-20,793</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 47px; width: 200px;">
Staff Costs and Directors' remuneration<br />
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-5,045</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-5,799</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 68px;">
<div align="right">
-5,545</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-4,989</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-7,529</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-5,609</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 68px;">
<div align="right">
-5,391</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-5,645</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 47px; width: 200px;">
Allowances for impairment loss<br />
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-6,186</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-4515</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-5662</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 68px;">
<div align="right">
-4,698</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-8,215</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 47px; width: 200px;">
Depreciation of plant and equipment<br />
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-733</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-745</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 68px;">
<div align="right">
-678</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-474</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-416</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-439</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 68px;">
<div align="right">
-523</div>
</td>
<td nowrap="nowrap" style="height: 47px; width: 61px;">
<div align="right">
-745</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
Other Expenses<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-11,456</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-11,634</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
-9,333</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-6,282</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-5,663</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-6,559</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
-5,724</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-4,901</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
Finance costs<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-14</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-15</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
-14</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-13</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-13</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-12</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
-24</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
-84</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
<strong>Profit before taxation</strong><br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
31,110</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
31256</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
35475</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
33248</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
33285</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
36795</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
40,795</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
37,845</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 21px; width: 200px;">
Taxation<br />
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
-7,911</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
-7,804</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
-10,320</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
-9,521</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
-9,166</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
-9,637</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
- 9,995</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
-9,521</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 21px; width: 200px;">
<strong>Profit for the period</strong><br />
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
23,199</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
23,452</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
25155</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
23,727</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
24119</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
27158</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
30,980</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
28,324</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 21px; width: 200px;">
<br />
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 21px; width: 200px;">
<strong>Profit attributable to owners</strong><br />
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
23,199</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
23,452</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
25,155</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
23,727</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
24,119</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
27,161</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
30,980</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
28,326</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
<strong>Earnings per share (Sen)</strong><br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
Basic<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
6.81</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
6.9</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
7.37</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
6.94</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
7.03</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
8</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
8.88</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
8.08</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
Diluted<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
6.81</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
6.86</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
7.35</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
6.91</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
7.00</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
7.79</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
8.84</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
8.05</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 20px; width: 200px;">
<br />
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 68px;">
<div align="right">
</div>
</td>
<td nowrap="nowrap" style="height: 20px; width: 61px;">
<div align="right">
</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 21px; width: 200px;">
<em>(Gross Profit margin)</em><br />
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
49%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
48%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
53%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
49%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
50%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
52%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
56%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
52%</div>
</td>
</tr>
<tr>
<td nowrap="nowrap" style="height: 21px; width: 200px;">
<em>(Net Profit margin)</em><br />
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
37%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
36%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
38%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
35%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
36%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 61px;">
<div align="right">
39%</div>
</td>
<td nowrap="nowrap" style="height: 21px; width: 68px;">
<div align="right">
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https://klse.i3investor.com/blogs/Duncan/2020-06-16-story-h1508818661.jsp<br />
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-25058915.post-62041397613637323752020-03-31T13:27:00.000+08:002020-03-31T13:27:18.140+08:00【我又爱又恨的它】——RCECAP (9296) RCE资本 RCE CAPITAL BHD<br />
<a name='more'></a> 【我又爱又恨的它】——RCECAP<br /><br /><br /><br />RCECAP是一家资本控股公司,主要从事融资服务,通俗一点来说就是合法的“阿隆”<br /><br />它的顾客群和生意模式非常特别:通过发行债券筹得资金,然后提供个人贷款给公务员。通过与政府部门的合作,每个月直接从公务员的薪水扣账来收款,再加上公务人员的薪水稳定,被辞退的风险较低(你懂的啦),大幅度降低了坏账的风险。<br /><br /><br /><br />除此之外,手握集团60.2%股权的大股东Tan Sri Azman Hashim,同时也是Amcorp Properties和AmBank的大股东。<br /><br /><br /><br />基本介绍完毕,接下来让我们来看看最新的业绩吧!<br /><br />【19Q3 vs 18Q3】<br /><br />-营业额由于利息收入的提升,从67.0M增加5.5M至72.5M,增幅为8.2%<br /><br />-税前利润由35.5M提升5.5M至41.0M,税前利润达到15%的双位数增长<br /><br />-显示了管理层在扩充业务的同时,运营成本控制得当<br />-贷款总额增长5%至1.81B,去年同期为1.72B<br /><br /><br /><br />【9M19 vs 9M18】<br />-营业额由于更多的利息收入,从195.2M增加14.4M至209.6M,成长7.4%<br />-税前利润由97.8M提升13.2M至111.1M,达到13.5%的双位数增幅<br />-生意蒸蒸日上,若无意外,今年的业绩将轻松超越2018年的业绩,一年比一年好<br /><br /><br /><br /><br /><br />【股息】<br /><br />FY17 3sen<br />FY18 7sen<br />FY19 9sen<br />FY20 10sen(预计)<br /><br /><br /><br />RCECAP一直以来都有派息,每年越派越多。以目前RM1.44的股价来看,10sen的股息代表着6.94%的股息率。公司每赚1块钱就派出3毛钱,30%的payout ratio代表着公司未来的股息仍有提升的空间。<br /><br /><br /><br /><br /><br />【值不值得买】<br />公司的每股净资产从2017年头的RM1.31提升至2019年尾的RM1.84,短短三年的时间内便增加了40%,倘若再加上派出的股息,公司为股东所创造出的价值就不单是如此了。一间资产RM1.84的公司,只卖你RM1.44的价钱,账面价值比为0.78倍,PE也只有5倍,明显股价被低估。<br /><br /><br /><br />不论是从盈利成长、每股资产、股息或是高达15%的ROE来看都非常具有吸引力。这样一间生意一年比一年好,利润一年比一年高的公司,夫复何求?<br /><br /><br /><br />展望未来,优质的贷款组合以及市场导向的定价,可以确保集团在充满挑战的环境中保持竞争力。RCECAP也将通过线上和线下的通路逐步建立品牌,提升知名度和顾客忠诚度,使公司的未来有更具前景。<br /><br /><br /><br />国家银行在今年的1月22日宣布,隔夜政策利率由3%调低至2.75%,两个月不到,3月3日国行又再度降息至2.50%。此举对于RCECAP是个利好消息,有助于集团用更低廉的资金来维持其业务的成长。<br /><br /><br /><br />同时,有报道指出RCECAP正在争取成为Shariah-compliant Stock的资格,预计目前已经达到标准。成为回教教义股是一个能让股价上涨的催化剂。<br /><br /><br /><br /><br /><br />【赔了夫人又折兵】<br />不知道你们有没有试过这样的感受?当你把一只股票卖掉后,一心希望股价立刻下跌,最好是那家公司第二天就关门大吉,来证明自己是对的。但若不跌反涨,则会伤心不已。以后股票涨得越高,心中便恨得越深。据说90%的投资人会出现这种心态。<br /><br /><br /><br />RCECAP曾经是我2018年最爱的重仓股。由于当时想要创业,需要资金,就把它全数卖出。后来的结果就是赔了夫人又折兵,错失了股价后续一大波的升幅,生意又以失败收场,成了遗珠之恨。<br /><br /><br /><br /><br /><br />你们呢?有没有那么一只股让你心痛、惋惜过?不妨在下面留言跟大家讨论!我们可以互相取暖哦~<br /><br />喜欢我的文章的话,一定要按赞和分享哦!您的支持是我前进的动力,我将继续跟大家分享更丰富的资讯,谢谢!<br />Investman 投资侠<br /><br />免责:纯属分享,买卖自负,如有错误,多多包涵。<br /><br />https://klse.i3investor.com/blogs/jylee0923/2020-03-31-story-h1485728005.jsp<br />Unknownnoreply@blogger.com