CTOS has been given a fee waiver for Central Credit Reference Information System (“CCRIS”) report extractions which would be due to expire on 31st December 2021 will be extended until 31st December 2022.
Bank Negara issued the extension letter to CTOS Data Systems Sdn Bhd, a wholly-owned subsidiary of the Company, CTOS reports that the estimated rebates given to 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, it does not expect any material impact on the profitability for the financial year ending 2022, from this CCRIS fee waiver extension.
Customers using the BNM service to check on credit score will not be passing on the cost to end users subsequently, the central bank issued similar waiver in order to ease the financials of potential loan applicants.
