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aws试用账号(www.2km.me)_CTOS to ride on robust credit reporting industry

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Hong Leong Investment Bank (HLIB) Research, which has initiated coverage for CTOS, said the company would be expanding its footprint to new verticals in Malaysia by focusing on the automotive, insurance and real estate sectors via innovative digital solutions.

KUALA LUMPUR: CTOS Digital Bhd, which is constantly eyeing new business opportunities, is in a sound position to capitalise on the bright prospects of the Asean credit reporting industry.

Hong Leong Investment Bank (HLIB) Research, which has initiated coverage for CTOS, said the company would be expanding its footprint to new verticals in Malaysia by focusing on the automotive, insurance and real estate sectors via innovative digital solutions.

“According to the International Data Corp (IDC), the total addressable market for the credit reporting industry for the three sectors is set to grow at a compounded annual growth rate (CAGR) of 67.3%, 43.7% and 43.2% respectively from 2021 to 2025.

“In terms of combined value, the total addressable market for the credit reporting industry is forecast to balloon to RM128.9mil in 2025 from RM25.1mil in 2021, which implies a CAGR of 50.6%.”

The IDC is a global intelligence firm that examines consumer markets by devices, applications, networks and services to provide complete solutions for succeeding in these expanding markets.

Citing IDC further, HLIB said robust growth has also been forecast for the credit reporting industry in Asean.

“IDC forecasts that the credit reporting industry in the Asean region will grow at a CAGR of 10.8% between 2021 and 2025 to RM1.61bil from RM1.07bil, in terms of value.

“This would stem from the credit reporting agencies’ heightened penetration and usage of credit reporting services in current sectors and further expansion into new verticals such as automotive, healthcare, media, software and professional services, as well as the public sector in the Asean region.”

CTOS is a leading regional credit bureau in the Asean region, with presence in Malaysia and Thailand.

HLIB noted that the group’s primary business includes providing credit information, analytics and digital solutions on companies, businesses as well as consumers at various stages of their lifecycle.

“CTOS’ products and services are also widely used by domestic banks, insurance and telecommunication companies, large corporations, small and medium-sized enterprises, legal firms and statutory bodies,” it said.

CTOS made its debut on the Main Market of Bursa Malaysia on July 19, 2021, making it the largest initial public offering on Bursa Malaysia for the year.

The listing exercise raised RM1.2bil, of which RM220mil was by issuance of new shares at RM1.10 per share.

With three decades of long-serving history with domestic banks and financial institutions, HLIB said CTOS’ wide array of products and digital solutions, along with its scoring system, allows it to provide a one-stop digital solution for most of the daily operations of the retail and commercial banking industry.

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