Latest news with #CTOSDigital
New Straits Times
25-04-2025
- Business
- New Straits Times
CTOS Digital CEO to exit in September, Q1 profit falls 31pct
KUALA LUMPUR: CTOS Digital Bhd has announced that group chief executive officer (CEO) Erick Hamburger will step down, with his last day of service set for Sept 30, 2025. Hamburger will begin his leave on May 1, the group said in a filing with Bursa Malaysia today. In the interim, board member Loh Kok Leong has been appointed group CEO effective the same date and will also be redesignated as executive director. "Since joining the group in 2021, Hamburger has contributed to CTOS Digital's growth and development," the filing said. "The board extends its sincere appreciation to Hamburger for his leadership over this period and wishes him continued success in his future endeavours." The announcement comes as CTOS Digital reported a 6.3 per cent year-on-year rise in revenue to RM76.1 million for the first quarter ended 31 March 2025. However, net profit fell 30.6 per cent to RM12.44 million. The firm declared a first interim single-tier dividend of 0.44 sen per share, representing a 70 per cent payout ratio. The dividend will be paid on July 23, with the entitlement date set for June 25. Hamburger said the group continues to see strong growth prospects both in Malaysia and across the region, particularly as financial institutions adopt more advanced credit analytics. "Innovation remains central to our strategy, and several product enhancements and new solutions are scheduled for launch in 2025," he said. He added that cost optimisation measures are underway, with expectations of improved cost-to-income ratios in the quarters ahead. CTOS Digital is Malaysia's leading credit reporting agency, with operations in Thailand, the Philippines and Indonesia. It serves a wide base of financial institutions, corporations, small and medium enterprises, and over four million individual users.
The Star
25-04-2025
- Business
- The Star
CTOS Digital posts lower 1Q profit, announces interim CEO
KUALA LUMPUR: CTOS Digital Bhd recorded a net profit of RM14.44mil in the first-quarter ended March 31, 2025, a 30.64% decline from RM20.82mil in the year-ago quarter. The bottomline translated to a decline in earnings per share to 0.6 sen from 0.9 sen in the comparative quarter. However, the credit reporting firm reported a 6.3% year-on-year increase in revenue in 1QFY25 to RM76.07mil, with higher contributions from the group's direct-to-consumer and key account segments. In a statement, CEO Erick Hamburger said the group continues to see an uptick in revenue amid abundant growth opportunities domestically and abroad. "Financial institutions are increasingly seeking more sophisticated data and tools for credit analysis, underpinning sustained demand for the Group's offerings. "Innovation remains central to our strategy, and several product enhancements and new solutions are scheduled for launch in 2025, further reinforcing our commitment to continuous improvement and value creation," he added. The group declared a first-interim dividend of 0.44 sen per share, which translates to a payout ratio of 70% for the quarter. The entitlement date for the dividend is on June 25, 2025, and it is payable on July 23, 2025. Meanwhile, CTOS Digital has appointed Loh Kok Leong as the interim group CEO from May 1, 2025, succeeding Hamburger in what it said is a carefully planned leadership transition. Hamburger will go on leave for the remainder of his employment from May 1 until Sept 30, 2025. A filing with the stock exchange announcing Hamburger's resignation from the board of directors said he was stepping down to "explore new career opportunities". The new appointment comes as the credit reporting firm said it had embarked on a series of cost optimisation initiatives to enhance its operational efficiency and reallocate resources more effectively. "While the benefits will be realised progressively, we expect to see improvements in our cost-to-income ratio over the coming quarters. "These measures reflect the group's commitment to maintaining financial discipline while continuing to invest in strategic growth areas," said Hamburger.
