Strong Demand For Key Segments To Foster Growth For CTOS Digital Berhad

CTOS Digital Berhad’s (CTOS) 4Q23 earnings increased 3-fold YoY with its management expecting strong growth from key segments to continue coupled by recent ASEAN expansion.

Malacca Securities (MSSB) Techichal Focus today (Feb 28) said CTOS has consolidated sideways and last closed at RM1.49. Monitor for a breakout, targeting RM1.60-1.61, with a LT target at RM1.66.

Support is located around RM1.42-1.43, while cut loss is at RM1.40.

In 4Q23, CTOS has achieved a net profit of RM56.2m from RM13.7m (+310.2% YoY) on the back of stronger revenue from  strong growth in key segments namely the Key Accounts segment and Commercial  segment.

CTOS expects strong growth in the Key Accounts segment from increasing adoption from the digital solutions and in-depth analytical insights. Furthermore, in the Commercial segment, growth is anticipated from the activation of new accounts and increased  consumption of its products and services.

Pursuant to the acquisitions in Indonesia and the Philippines, the plan is to synergise expertise to  offer a top-tier range of credit-centric solutions, which aims to serve a broad  spectrum of clients, from major banks to emerging SMEs, with innovative digital  lending solutions.

CTOS Digital Berhad offers credit reporting, software development, outsourcing and training, and digital  software related services.

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