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.
