PETALING JAYA (Aug 29): General loan financing services provider RCE Capital Bhd said it "does not compete for market share" and prioritises quality over quantity in terms of loan disbursements.

Speaking to reporters after its annual general meeting earlier today, its chief executive officer Loh Kam Chuin acknowledged that within the Malaysian personal financing sphere which is worth about RM160 billion, RCE Capital commands only about 1% share of the market.

In terms of the civil servant financing market, RCE Capital — which provides financing mainly to government employees — has about 2% to 3% market share, based on its loan book value of between RM1.5 billion and RM1.6 billion.

"We don't compete for market share. We are on the niche side and serve markets that are unserved by the bigger players," Loh said.

"We are not deposit taking so in terms of rates, we don't have the advantage over the bigger players. So we focus on delivery, on how fast we can get the loans to our customers," he added.

Loh cited education, home renovation and medical needs as among the top reasons for loan applications by civil servants to the group.

At noon break, RCE Capital settled 1.7% or 3 sen lower at RM1.70, valuing it at RM579.61 million.