CTOS seeing strong demand from digital moneylenders

Maybank IB Research said it maintains FY23 estimated associate profit targets of RM32mil (versus 1Q23’s RM2.2mil).

PETALING JAYA: Despite sequential weakness in its associate profits in the first quarter ended March 31, 2023 (1Q23), CTOS Digital Bhd’s core businesses remain resilient, according to Maybank Investment Bank (Maybank IB) Research.

The research firm notes the credit rating agency’s continuous product improvement to maintain a dominant market share and upsell its products.