RCE Capital Berhad

What RCE Capital Berhad does

RCE Capital Berhad is a Malaysian non-bank financial services company, incorporated in 1953 and listed on Bursa Malaysia. It operates through three core business segments: Consumer Financing, Payroll Collection Services, and Commercial Financing (Factoring). The company's primary business is providing personal financing — both Shariah-compliant (Islamic) and conventional — to Malaysian government employees, channeled through partnerships with co-operatives and foundations such as Yayasan Ihsan Rakyat (YIR) and Yayasan Dewan Perniagaan Melayu Perlis Berhad (YYP). Its subsidiary RCE Marketing Sdn Bhd (RCEM) holds a moneylending licence (WL2793/14/01-11/111026) and executes the consumer financing activity.

The company's defining infrastructure is its Salary Deduction Scheme, under which loan installments are deducted directly from the borrower's monthly government salary, substantially reducing credit risk and creating a stable, predictable cash collection mechanism. Funding for the financing book is supported in part by a RM2.0 billion Sukuk Murabahah Asset-Backed Securitisation Programme, executed through a Special Purpose Vehicle, Zamarad Assets Berhad (ZAB). The company does not operate a proprietary digital lending platform; distribution is institutionally driven via co-operative partners, corporate websites, and customer service hotlines rather than mass-market consumer advertising. The CEO is Loh Chuin.

Revenue is generated primarily through interest/profit rates on the consumer and commercial financing book (treated as recurring subscription-like income given the installment structure), transaction-based fees on factoring services, and fees from payroll collection. The business model is therefore that of a specialized, government-segment-focused consumer finance lender with an integrated payroll-deduction collection backbone and Islamic capital markets funding capability.

Name

RCE Capital Berhad

Legal name

RCE Capital Berhad (Registration No. 195301000151 (2444-M))

Website

https://rce.com.my

Company type

Public

Founded year

1953

Operating status

Operating

Short description

RCE Capital Berhad is a Malaysian non-bank financial services company that provides Shariah-compliant and conventional personal financing to government employees through co-operative and foundation partners, with repayment collected via employer salary deduction.

Ownership category

akta.pro rank

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Consumer Financing: RCE Capital Berhad generates revenue primarily through the provision of consumer and personal financing to government employees. This includes both Shariah-compliant (Islamic financing) and conventional financing products. Repayments are collected via a Salary Deduction Scheme whereby monthly installments are deducted directly from the borrower's salary.
2. Commercial Financing (Factoring): The company provides commercial financing and factoring services to businesses, generating revenue through interest/profit rates charged on financing extended.
3. Payroll Collection Services: RCE Capital offers payroll collection services, generating fee-based revenue from employer/co-operative clients.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

RCE Capital Berhad is a Malaysian financial services company that provides Shariah-compliant and conventional consumer financing (personal loans) to government employees through a network of co-operatives and foundations, with repayments collected via a Salary Deduction Scheme. It also offers commercial financing (factoring) to businesses and provides payroll collection services. Its operating subsidiary RCE Marketing Sdn Bhd (RCEM) holds the group's moneylending licence.

Product overview

RCE Capital Berhad operates a multi-segment financing platform comprising three core products: Consumer Financing through RCE Marketing Sdn Bhd (offering Shariah-compliant and conventional personal financing), Payroll Collection Services (enabling installment collection via salary deduction), and Commercial Financing (factoring services). The company primarily serves government employees through partnerships with co-operatives and foundations, with repayment infrastructure built on employer salary systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Consumer Financing

Quantifiable outcome

• RM2.0 billion Sukuk Murabahah Asset-Backed Securitisation Programme successfully structured and executed.

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and major.

• Yayasan Ihsan Rakyat (YIR)coreChannel Partner/ Reseller/ DistributorYayasan Ihsan Rakyat (YIR) is a co-operative foundation that serves as a key channel partner for RCE Marketing Sdn Bhd. YIR provides financing services to government employees who are members of the foundation. RCE works with YIR to provide personal financing solutions to these members, with repayments facilitated through the Salary Deduction Scheme.
• Yayasan Dewan Perniagaan Melayu Perlis Berhad (YYP)coreChannel Partner/ Reseller/ DistributorYayasan Dewan Perniagaan Melayu Perlis Berhad (YYP) is a co-operative foundation in Perlis, Malaysia, that serves as a channel partner for RCE Marketing Sdn Bhd. Similar to YIR, YYP provides access to government employee members who can avail of RCE's personal financing products, with repayments collected via salary deduction.
• RCE Marketing Sdn Bhd (RCEM)coreStrategic or Co-development PartnerRCE Marketing Sdn Bhd is the primary subsidiary of RCE Capital Berhad responsible for consumer financing activities. RCEM holds a moneylending licence (WL2793/14/01-11/111026) and is the entity that provides personal and Shariah-compliant financing solutions to government employees through co-operative and foundation partners. RCEM won the 'Excellence in Shariah-Compliant Personal Financing Solutions' award at The BrandLaureate World Halal BestBrands Awards 2026.
• Zamarad Assets Berhad (ZAB)majorStrategic or Co-development PartnerZamarad Assets Berhad (ZAB) is a Special Purpose Vehicle (SPV) established by RCE Capital Berhad for its RM2.0 Billion Sukuk Murabahah Asset-Backed Securitisation Programme (ABS). ZAB won the 'Best Securitisation Sukuk of the Year 2025' award, demonstrating the company's capabilities in Islamic capital market instruments.

Scale indicators3 records

Recent moves9 records

Expansion highlights4 records

Broad incumbents

• Bank Islam Malaysia Berhad: Malaysia's oldest Islamic bank offering Shariah-compliant personal financing and salary deduction-based products. Competes with RCEM in the Shariah-compliant personal financing segment but operates as a full-service bank rather than a focused non-bank lender.
• Bank Muamalat Malaysia Berhad: Full-service Islamic bank in Malaysia offering Shariah-compliant personal financing. Broader incumbent with overlapping personal financing products to Malaysian civil servants, but as part of a full banking franchise rather than a specialised non-bank lender.
• Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat): Malaysia's largest cooperative bank with deep government employee penetration and personal financing products using salary deduction. Comparable customer base and channel model, though operating as a full-service cooperative bank rather than a specialist non-bank lender.
• CIMB Bank Berhad: One of Malaysia's largest universal banks offering personal financing, Islamic financing, and active securitisation issuance. Competes broadly for the same government-employee borrowers, though as a diversified regional banking group rather than a niche non-bank.
• Affin Bank Berhad: Malaysian mid-sized bank with personal financing and Islamic banking offerings to civil servants and salary-deduction customers. Broader incumbent with deposit-taking and full banking services alongside the personal financing overlap.

Direct peers

• ELK-Desa Berhad: Malaysian hire-purchase and consumer financing provider listed on Bursa Malaysia. Comparable in originating small-ticket consumer loans to Malaysian borrowers, with a similar non-bank model and funding through portfolio-based instruments.
• World Acceptance Corporation: US-listed subprime consumer instalment lender to underbanked borrowers with comparable salary-deduction-style repayment structures and small-ticket personal loan model. Useful international benchmark for unit economics and credit-cost dynamics in non-bank consumer lending.
• AEON Credit Service Malaysia Berhad: Malaysian non-bank consumer and hire-purchase financing company listed on Bursa Malaysia. Direct comparable: similar product set (personal financing, instalment plans) targeting Malaysian consumers, with comparable business model of originating receivables and funding via securitisation.

Emerging players

• MBSB Bank Berhad: Malaysian Islamic-bank-turned-full-bank offering personal financing including to civil servants. Comparable in the Islamic personal financing space and securitisation activity, but with a broader deposit-taking franchise.
• Funding Circle Holdings plc: UK-listed platform originating loans to small businesses and consumers via technology-driven underwriting, with portfolio funding through securitisation. Comparable in non-bank lending and ABS-funding approach, though focused on SMB rather than government employees.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/PortalRasmiYIR
• Facebookfacebook.com/people/YYP-Portal-Rasmi-Yayasan-Dewan-Perniagaan-Melayu-Perlis-Berhad/61574901512567
• Instagraminstagram.com/portalrasmiyyp

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RCE Capital Berhad