KUALA LUMPUR (Dec 21): CTOS Digital Bhd has obtained an extension for the fee waiver for Central Credit Reference Information System (CCRIS) report extractions from Bank Negara Malaysia (BNM).
The credit reporting agency said the waiver granted to its subsidiary CTOS Data Systems Sdn Bhd will be extended by another year to Dec 31, 2022.
“The estimated rebates given to CTOS’ customers arising from the CCRIS fee waiver are expected to be more than 10% of last year’s consolidated revenue.
“Similarly, as in the current financial year, CTOS does not expect any material impact on the profitability for the financial year ending Dec 31, 2022, from this CCRIS fee waiver extension,” CTOS said in a bourse filing.
CTOS had obtained the fee waiver on June 1, 2020 when BNM announced a series of relief measures amid the Covid-19 pandemic. Banks were increasingly reliant on CCRIS report extractions to assess the financial impact of the pandemic on its borrowers and guarantors.
CTOS shares closed 1 sen or 0.58% higher at RM1.73, valuing the credit reporting agency at RM3.81 billion.