Credit Bureau Asia Limited (TCU) Under Scrutiny: Key Issues Raised at Upcoming AGM

Credit Bureau Asia’s AGM Raises Questions on Licensing, Business Operations, and Governance

In a recent announcement, Credit Bureau Asia Limited (TCU) revealed that its subsidiary, Credit Bureau (Singapore) Pte Ltd (“CBS”), has been licensed by the Monetary Authority of Singapore (MAS) to carry on a consumer credit reporting business. The company operates two main business segments – the financial institutions (“FI”) data business and the non-FI data business — serving both consumer and commercial credit risk segments.
Key Points:
Credit Bureau (Singapore) Pte Ltd (“CBS”), a subsidiary of Credit Bureau Asia Limited (TCU), has obtained a license from the Monetary Authority of Singapore (MAS) to carry on a consumer credit reporting business.
The license enables CBS to broaden its services or offerings, but details on its impact on the company’s business operations and financial performance remain unclear.

Clarification on License and Business Operations

The company announced on April 2, 2025, that its subsidiary, Credit Bureau (Singapore) Pte Ltd (“CBS”), has been licensed by the Monetary Authority of Singapore (MAS) to carry on a consumer credit reporting business. According to the announcement, this license is a new and distinct one from existing ones held by the group.
Management Response Required: Shareholders are seeking clarification on why CBS was issued a license for consumer credit reporting and whether this license enables CBS to broaden its services or offerings.

Additional Licensing and Its Implications

The company operates in two main business segments: the financial institutions (“FI”) data business and the non-FI data business. These segments serve both consumer and commercial credit risk needs.
Clarification Needed: Shareholders are seeking clarification on whether this additional licensing is required under the Credit Bureau Act 201, to continue the group’s existing business operations.

Operational and Financial Matters

Shareholders are seeking greater clarity on several operational and financial matters:
Innovation Pipeline: How new products and services are identified, developed, and brought to market, and examples of credit reports offered by the group.
Macroeconomic Volatility: The potential impact of a global economic slowdown on the FI and non-FI businesses and which business segments and geographic regions are more vulnerable.
Vietnam Market Entry: Progress made towards establishing operations in Vietnam, following the MoU with FiinGroup JSC, and whether the partnership remains a strategic priority.

Governance and Attendance Issues

There are also concerns regarding the attendance of directors at board and committee meetings:
Director Attendance: The executive chairman, Mr. Kevin Koo, was absent from a board meeting, and another director, Mr. Low Seow Juan, missed one out of two board meetings and one audit committee meeting which he was meant to chair.
Extenuating Circumstances: The company has been asked to clarify the circumstances surrounding these absences and whether the absent directors participated remotely via tele- or videoconferencing.

Share Price Impact and Investor Considerations

These developments and questions raised may have an impact on the company’s share price, particularly if investors are concerned about the potential effects of licensing changes, business operations, and governance on the company’s future performance.
Disclaimer: The information contained in this article is based on available data and may not be up-to-date or reflect current market developments. This article serves as a general summary and should not be considered as investment advice. For more accurate and updated information, please consult official sources or the company directly.

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