Written by Darlene Liew
Thursday, 20 August 2009 18:11
KUALA LUMPUR: RCE CAPITAL BHD [] is stepping up efforts to improve its network to tap into the growing civil service to provide its loans, especially in the East Coast Economic Region (ECER).
Its executive director of corporate affairs, Loh Kam Chuin said on Aug 20 the money lending industry was becoming more competitive due to the entry of more players.
RCE, which provides personal loans to government servants through strategic affiliation with credit cooperatives, was improving its network to reach out to more customers, he said after the shareholders meetings.
Under the arrangement with the government, the repayments to RCE are via the salary deduction scheme.
"Currently we have about 60 branches but our focus is on increasing our representatives," he said, adding that amid the intense competitive environment, there were still opportunities for the business to grow.
Low said the ECER would see an increase in police personnel and teachers, and would provide a bigger customer base for RCE.
RCE also extends the tenure of loans from 10 years to 15 years unless the civil servant is retiring.
On the regional outlook, he said RCE would look to expand overseas, but this would also hinge on the opportunity and whether it complemented its current business.
RCE was looking into opportunities in the ASEAN region, he said, but the company was not in talks with any parties.