CTOS on track with expansion

Maybank IB Research, which is initiating a coverage with a “buy” call on the stock with a target price of RM2.17, said it is projecting a three-year (FY’20-FY’23 estimate) core net profit compounded annual growth rate (CAGR) of 28%, driven primarily by growth across all customer segments and average revenue per customer (from new offerings, new verticals, more value-added products).

PETALING JAYA: The prospects of CTOS Digital Bhd looks bright with higher earnings anticipated over the next few years underpinned, among others, by inorganic expansion and expansion into new sectors.

The company, a leading credit rating agency (CRA) and credit-related data solutions provider with over 70% market share in the country, hopes to forge new partnerships as this would spur its expansion in Asean.