195301000151 (2444-M)

ANNUAL

REPORT 2023

What's

Inside

2

Corp

Information

3

Corporate Structure

4

Group Financial Highlights

6

Profile of Directors

10

Profile of Chief Executive Officer

11

Profile of Key Senior Management

12

Chairman's Letter to Shareholders

16

Management Discussion and Analysis

24

Sustainability Statement

61

Corporate Governance Overview Statement

75

Additional Compliance Information

77

Statement on Risk Management and Internal Control

82

Audit Committee Report

88

Financial Statements

170

Analysis of Shareholdings

173

Notice of Annual General Meeting

Form of Proxy

  • RCE Capital Berhad • Annual Report 2023

CORPORATE INFORMATION

BOARD OF DIRECTORS

SHAHMAN AZMAN

Non-Independent

Non-Executive Chairman

TAN SRI MAZLAN

BIN MANSOR

Independent Director

DATUK MOHAMED AZMI BIN MAHMOOD Independent Director

MAHADZIR BIN AZIZAN

Independent Director

THEIN KIM MON

Independent Director

SOO KIM WAI

Non-Independent

Non-Executive Director

SHALINA AZMAN

Non-Independent

Non-Executive Director

LUM SING FAI

Non-IndependentNon-Executive Director

CHIEF EXECUTIVE OFFICER

Loh Kam Chuin

COMPANY SECRETARIES

Johnson Yap Choon Seng (MIA 20766)

(SSM PC No. 202008000685)

Seow Fei San (MAICSA 7009732)

(SSM PC No. 201908002299)

REGISTERED OFFICE

802, 8th Floor, Block C Kelana Square

17 Jalan SS 7/26

47301 Petaling Jaya Selangor Malaysia

Tel

: +603-7803 1126

+603-7806 2116

Fax

: +603-7806 1387

+603-7806 1261

Email

: eadvisory@epsilonas.com

BUSINESS ADDRESS

20th Floor

Menara Teo Chew

1 Jalan Lumut

50400 Kuala Lumpur

Malaysia

Tel

: +603-4047 0988

Fax

: +603-4042 8877

Website

: www.rce.com.my

AUDITORS

Deloitte PLT

Chartered Accountants

Level 16, Menara LGB

1 Jalan Wan Kadir

Taman Tun Dr. Ismail

60000 Kuala Lumpur

Malaysia

Tel

: +603-7610 8888

Fax

: +603-7726 8986

SHARE REGISTRAR

Tricor Investor & Issuing House

Services Sdn Bhd

Unit 32-01, Level 32, Tower A

Vertical Business Suite

Avenue 3, Bangsar South

No. 8 Jalan Kerinchi

59200 Kuala Lumpur

Malaysia

Tel

: +603-2783 9299

Fax

: +603-2783 9222

Email

: is.enquiry@my.tricorglobal.com

Customer Service Centre:

Unit G-3, Ground Floor

Vertical Podium

Avenue 3, Bangsar South

No. 8 Jalan Kerinchi

59200 Kuala Lumpur

Malaysia

STOCK EXCHANGE LISTING

Bursa Malaysia Securities Berhad Main Market

(Listed on 20 September 1994)

Stock name

: RCECAP

Stock code

: 9296

Annual Report 2023 • RCE Capital Berhad

3

100%

CORPORATE STRUCTURE

RCE Marketing Sdn Bhd

Provision of shariah-compliant and conventional financing services

100%

100%

100%

100%

Zamarad Assets Berhad ("ZAB")

ZAB and ADA are included as indirect and not legal

subsidiary companies of RCE Capital Berhad as a result of

compliance with applicable accounting standards. These

are special purpose vehicles owned by TMF Trustees

Malaysia Berhad as share trustee for the issuance of

RM2.00 billion Asset-Backed Securitisation Islamic Medium

Al Dzahab Assets Berhad ("ADA")

Term Notes and RM900.0 million Sukuk Murabahah

Asset-Backed Securitisation Programmes respectively.

RCE Trading Sdn Bhd

Investment of securities

RCE Sales Sdn Bhd

Provision of shariah-compliant and conventional financing services

100%

100%

100%

Mezzanine Enterprise Sdn Bhd

Provision of financial administrative services

EXP Payment Sdn Bhd

Processing and administration of payroll collection

RCE Factoring Sdn Bhd

Confirming and factoring, provision of shariah-compliant financing services, industrial hire-purchase specialising in trade-related activities and general trading

Note: This chart features the main operating companies and exclude inactive companies.

4

RCE Capital Berhad • Annual Report 2023

GROUP FINANCIAL HIGHLIGHTS

Financial Years Ended 31 March

2019

2020

2021

2022

2023

Profitability

Revenue

(RM'000)

262,570

284,197

293,459

299,457

323,632

Profi t before tax and allowances for

212,630

impairment loss on receivables

(RM'000)

154,814

171,990

182,815

188,776

Profi t before tax

(RM'000)

131,089

148,900

167,223

177,232

183,942

Net profi t attributable to owners of the

138,784

Company

(RM'000)

95,533

110,581

124,633

133,169

Key Consolidated Statements of Financial Position Data

Total assets

(RM'000)

2,226,143

2,431,032

2,490,706

2,725,278

2,946,831

Financing receivables, net

(RM'000)

1,598,706

1,689,915

1,721,180

1,764,072

1,899,412

Financing liabilities (net of deposits, cash

1,211,877

and bank balances)

(RM'000)

1,112,482

1,094,200

1,072,718

1,003,465

Net assets ("NA") attributable to ordinary

805,659

shareholders

(RM'000)

583,516

673,363

774,031

872,068

Key Financial Indicators

NA per ordinary share

(RM)

1.71

1.92

2.15

1.19^

1.10

Return on average equity

(%)

17.42

17.60

17.22

16.18^

16.54

Earnings per share:

Basic

(sen)

28.02

31.83

35.03

18.25^

18.95

Diluted

(sen)

27.95

31.71

34.99

18.19^

18.85

Net gearing ratio

(times)

1.91

1.62

1.39

1.15^

1.50

Net dividend per share

(sen)

9.00

11.00

13.00

11.00*

30.00~

Dividend payout ratio

(%)

33

35

38

41

158

Return on average total assets

(%)

4.68

4.75

5.06

5.11

4.89

Number of ordinary shares outstanding

732,851

(net of treasury shares)

(unit)

341,908

350,333

360,050

731,771^

Share price as at fi nancial year end

(RM)

1.63

1.49

2.60

1.85

1.82

  • Accounted for the effects of enlarged share capital upon issuance and distribution of bonus and treasury shares.
  • Derived from first interim dividend of 7.00 sen per ordinary share and second interim dividend of 4.00 sen per ordinary share prior to and after enlarged share capital upon issuance and distribution of bonus and treasury shares respectively.
  • Included special interim dividend of 18.00 sen per ordinary share.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

RCE Capital Bhd published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 09:01:06 UTC.