Tan Sri Azman Hashim's son heads RCE Capital as Chairman
|FYE 31 MARCH 2021 RCE CAPITAL ACHIEVED REVENUES OF RM293.5M AND PRE-TAX PROFIT RM167.2M
RCE Capital Berhad was formerly Rediffusion Bhd, a company which operates a wireless radio broadcasting station with two nationwide radio channels, 998 (in Chinese) and RED 104.9 (BM and English). In June 2003, the media broadcasting business was hived off to Star Commercial Publications. The name was changed to RCE Capital in October 2003.
RCE is a non-bank shariah compliant financial services provider within the Islamic financial eco-system. It gets its funding by issuing debt securities and pledging its financial receivables or securitization for banking facilities. Its main business is personal financing to government civil servants and repayment of loans is via monthly deductions from salary. RCE's strategy is to expand beyond this to other forms of shariah-compliant financing. Non-core income, about RM19 million as at 31 March 2021 is mainly from deposits placed with banks.
SHAHMAN AZMAN, son of veteran banker, Tan Sri Azman Hashim (81), is a graduate of Chapman University USA with a Bachelor of Communications degree. He has been with the Amcorp Group of companies since 1996. Currently he is also a director of Singapore listed Amcorp Global Limited, and the Deputy CEO of Bursa Malaysia listed Amcorp Properties Berhad where his sister, Shalina Azman is chairman. (next post)
His father, Tan Sri Azman Hashim, practised as a Chartered Accountant in his own firm Azman Wong Salleh & Co (1964-1971) before joining the Board of Malayan Banking Berhad and was ED from 1971-1980. In 1982 he acquired Aminvestment Bank Berhad. There is a book titled "The Entrepreneur Banker" which is an autobiography of Tan Sri.
- RCE Capital Berhad. About Us. https://www.rce.com.my/
- RCE Capital Berhad. Annual Report 2021. https://www.klsescreener.com/v2/announcements/view/3413387
- The Edge Malaysia. 22 June 2021. Adeline Paul Raj. https://www.theedgemarkets.com/article/positive-views-rce-capital-maintained-despite-fmco
- New Straits Times. 27 January 2022. Farah Adilla. https://www.nst.com.my/business/2022/01/766705/tan-sri-azman-hashim-retire-ambank-chairman-end-march-year