RCE Capital Berhad
RCE Capital Berhad, an investment holding company, provides financial services in Malaysia. It offers consumer financing, commercial financing, money lending, and shariah-compliant and conventional financing services; financial administrative services; and confirming, factoring, and industrial hire-purchase services in trade-related activities and general trading; as well as invests in securities… Read more
RCE Capital Berhad (9296) - Net Assets
Latest net assets as of September 2025: RM846.86 Million MYR
Based on the latest financial reports, RCE Capital Berhad (9296) has net assets worth RM846.86 Million MYR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM3.04 Billion) and total liabilities (RM2.20 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM846.86 Million |
| % of Total Assets | 27.84% |
| Annual Growth Rate | 1.47% |
| 5-Year Change | 8.46% |
| 10-Year Change | 83.89% |
| Growth Volatility | 12.21 |
RCE Capital Berhad - Net Assets Trend (2013–2025)
This chart illustrates how RCE Capital Berhad's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for RCE Capital Berhad (2013–2025)
The table below shows the annual net assets of RCE Capital Berhad from 2013 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | RM839.51 Million | +1.17% |
| 2024-03-31 | RM829.77 Million | +2.99% |
| 2023-03-31 | RM805.66 Million | -7.62% |
| 2022-03-31 | RM872.07 Million | +12.67% |
| 2021-03-31 | RM774.03 Million | +14.95% |
| 2020-03-31 | RM673.36 Million | +15.40% |
| 2019-03-31 | RM583.52 Million | +12.37% |
| 2018-03-31 | RM519.27 Million | +17.65% |
| 2017-03-31 | RM441.36 Million | -3.32% |
| 2016-03-31 | RM456.54 Million | -19.34% |
| 2015-03-31 | RM566.00 Million | -17.37% |
| 2014-03-31 | RM685.00 Million | -2.84% |
| 2013-03-31 | RM705.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to RCE Capital Berhad's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 133.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM634.89 Million | 75.63% |
| Common Stock | RM204.88 Million | 24.40% |
| Other Comprehensive Income | RM4.69 Million | 0.56% |
| Total Equity | RM839.51 Million | 100.00% |
RCE Capital Berhad Competitors by Market Cap
The table below lists competitors of RCE Capital Berhad ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Evolution Petroleum Corporation Inc
NYSE MKT:EPM
|
$136.49 Million |
|
Nordfyns Bank A/S
CO:NRDF
|
$136.51 Million |
|
Television Broadcasts Limited
PINK:TVBCF
|
$136.52 Million |
|
Chung Hwa Pulp Corp
TW:1905
|
$136.53 Million |
|
Quoc Cuong Gia Lai JSC
VN:QCG
|
$136.44 Million |
|
Turcas Petrol AS
IS:TRCAS
|
$136.36 Million |
|
ITAB SHOP CONC. SK 0417
F:29I0
|
$136.31 Million |
|
Zhejiang Taitan Co Ltd
SHE:003036
|
$136.29 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in RCE Capital Berhad's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 829,773,145 to 839,514,000, a change of 9,740,855 (1.2%).
- Net income of 105,537,582 contributed positively to equity growth.
- Dividend payments of 95,338,000 reduced retained earnings.
- Share repurchases of 2,964,000 reduced equity.
- Other comprehensive income increased equity by 1,753,204.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM105.54 Million | +12.57% |
| Dividends Paid | RM95.34 Million | -11.36% |
| Share Repurchases | RM2.96 Million | -0.35% |
| Other Comprehensive Income | RM1.75 Million | +0.21% |
| Other Changes | RM8.37 Million | +1.0% |
| Total Change | RM- | 1.17% |
Book Value vs Market Value Analysis
This analysis compares RCE Capital Berhad's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.00x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 1.74x to 2.00x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-03-31 | RM0.66 | RM1.14 | x |
| 2018-03-31 | RM0.76 | RM1.14 | x |
| 2019-03-31 | RM0.85 | RM1.14 | x |
| 2020-03-31 | RM0.96 | RM1.14 | x |
| 2021-03-31 | RM1.07 | RM1.14 | x |
| 2022-03-31 | RM1.19 | RM1.14 | x |
| 2023-03-31 | RM1.09 | RM1.14 | x |
| 2024-03-31 | RM1.13 | RM1.14 | x |
| 2025-03-31 | RM0.57 | RM1.14 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently RCE Capital Berhad utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.57%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 31.82%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 3.56x
- Recent ROE (12.57%) is below the historical average (15.43%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 8.67% | 24.37% | 0.10x | 3.40x | RM-6.08 Million |
| 2017 | 17.89% | 35.35% | 0.13x | 3.86x | RM34.81 Million |
| 2018 | 17.08% | 36.06% | 0.13x | 3.58x | RM36.75 Million |
| 2019 | 16.37% | 36.38% | 0.12x | 3.82x | RM37.18 Million |
| 2020 | 16.42% | 38.91% | 0.12x | 3.61x | RM43.24 Million |
| 2021 | 16.10% | 42.47% | 0.12x | 3.22x | RM47.23 Million |
| 2022 | 15.27% | 44.47% | 0.11x | 3.13x | RM45.96 Million |
| 2023 | 17.23% | 42.88% | 0.11x | 3.66x | RM58.22 Million |
| 2024 | 16.72% | 40.61% | 0.11x | 3.61x | RM55.78 Million |
| 2025 | 12.57% | 31.82% | 0.11x | 3.56x | RM21.59 Million |
Industry Comparison
This section compares RCE Capital Berhad's net assets metrics with peer companies in the Credit Services industry.
Industry Context
- Industry: Credit Services
- Average net assets among peers: $781,939,781
- Average return on equity (ROE) among peers: 10.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| RCE Capital Berhad (9296) | RM846.86 Million | 8.67% | 2.59x | $136.46 Million |
| Pappajack Bhd (0242) | $54.93 Million | 2.86% | 0.10x | $38.79 Million |
| Evergreen Max Cash Capital Berhad (0286) | $137.06 Million | 14.63% | 0.61x | $25.82 Million |
| Aeon Credit Service Bhd (5139) | $2.52 Billion | 16.54% | 3.40x | $213.19 Million |
| ELK-Desa Resources Bhd (5228) | $410.94 Million | 8.01% | 0.33x | $29.84 Million |