[%LDCv%] 
Research by Public
Neutral  – TP RM3.18

" Proposed Bonus Issue "

RCE Capital has proposed a one-for-one bonus issue with an entitlement date to be determined later which will involve the issuance of up to 764.9m new shares. This will bring the enlarged share capital to 1.53bn shares. We are positive on this proposal as we believe that the bonus issue will enhance the marketability of its shares, making it more appealing to a wider base of public shareholders, thereby improving its trading liquidity. Should the proposed bonus issue go through, our DDM-derived TP will be adjusted to RM1.56, under the maximum number of shares issued. Nevertheless, we maintain our Neutral call and TP of RM3.18 on RCE at this juncture, pending further details from the proposal.

Analyst:
Wong Ling Ling
[%gAZD%]

$KLSE-RCECAP 
Research by Public
Neutral  – TP RM3.18

" Proposed Bonus Issue "

RCE Capital has proposed a one-for-one bonus issue with an entitlement date to be determined later which will involve the issuance of up to 764.9m new shares. This will bring the enlarged share capital to 1.53bn shares. We are positive on this proposal as we believe that the bonus issue will enhance the marketability of its shares, making it more appealing to a wider base of public shareholders, thereby improving its trading liquidity. Should the proposed bonus issue go through, our DDM-derived TP will be adjusted to RM1.56, under the maximum number of shares issued. Nevertheless, we maintain our Neutral call and TP of RM3.18 on RCE at this juncture, pending further details from the proposal.

Analyst:
Wong Ling Ling
wong.lingling@publicinvestbank.com.my