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Wednesday, April 9, 2008

Aras Kreatif owns 11% of RCE

KUALA LUMPUR: Aras Kreatif Sdn Bhd has emerged as a substantial shareholder in RCE Capital Bhd after acquiring an 11.17% stake on April 1.
A filing with Bursa Malaysia showed the stake accounted for 70.4 million shares. The share price closed at 52.5 sen on that day.
On Monday, the company announced that its placement of 64.63 million shares or 10% of its existing paid-up share capital had been completed with the listing of the shares on April 5.
RCE provides loan financing to civil servants. Its share price hit a 52-week high on Oct 7 last year at RM1.14 while its 52-week low was 49 sen on March 21 this year. It is trading at a price to earnings of 5.21 times.-www.staronline.com.my
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