Credit Bureau Asia Limited Responds to SIAS Queries: What’s Next for the Company?

In a recent announcement, Credit Bureau Asia Limited (the “Company”) responded to queries from the Securities Investors Association Singapore (“SIAS”) regarding its annual report for the financial year ended December 31, 2024. Here are the key points that shareholders need to know:
License Update and Business Expansion
The Company’s subsidiary, Credit Bureau (Singapore) Pte Ltd (“CBS”), was issued a license by the Monetary Authority of Singapore (MAS) to carry on a consumer credit reporting business, effective April 1, 2025. This license is new and distinct from existing licenses held by the group, and it potentially enables CBS to broaden its services subject to approval by MAS [[Page 1]].
According to the Company, the license is required under the Credit Bureau Act 2016 to continue its existing business operations. The management clarified that the license is not an additional requirement but rather a necessary step to continue operating in the consumer credit reporting business [[Page 1]].
Innovation Pipeline and Product Offerings
The Company elaborated on its innovation pipeline, stating that new products and services are identified, developed, and brought to market based on market demand and needs. The group currently provides consumer credit reports with financial institution data (FI data) as well as various commercial credit reports with non-FI data to its diverse customers [[Page 2]].
Examples of credit reports offered by the group include consumer credit reports with FI data and commercial credit reports with non-FI data. The Company regularly reviews its product and service offerings to ensure they cater to market requirements [[Page 2]].
Macroeconomic Volatility and Business Impact
The Company addressed concerns about macroeconomic volatility, stating that its defensive business model has been resilient to external factors in the past. However, the management noted that every external factor is unique and different, and they cannot guarantee that the business will be completely immune to future external factors [[Page 2]].
Vietnam Market Entry and Partnership Update
Regarding the joint venture with FiinGroup JSC in Vietnam, the Company updated that there have been discussions with FiinGroup, but there are no concrete and substantial developments to announce yet. The partnership remains a strategic priority, and an update will be provided when there are tangible developments [[Page 2]].
Cash and Capital Allocation
As of December 31, 2024, the Company held $67.0 million in cash and bank balances, with approximately $30 million placed in short-term deposits. The board has reviewed and will continue to consider all available options, including increasing dividend payouts or returning capital to shareholders [[Page 2]].
Director Attendance and Board Responsibilities
The Company addressed concerns about director attendance at board and committee meetings, stating that the executive chairman, Mr. Kevin Koo, was absent from a board meeting due to an overseas business trip. Another director, Mr. Low Seow Juan, missed one out of two board meetings and audit committee meetings due to a medical procedure [[Page 3]]].
The board assured that directors have discharged their fiduciary duties and committee responsibilities effectively.
Disclaimer: This article is based on the Company’s announcement and is for informational purposes only. Shareholders and investors should note that the information provided may not be comprehensive or up-to-date, and they should consult the Company’s official announcements and filings with the relevant regulatory authorities for the most current and accurate information.
No investment advice or recommendation is provided in this article. Readers are advised to do their own research and consult with financial advisors before making any investment decisions.
The information in this article may be considered price-sensitive, and shareholders should take note of the Company’s responses to SIAS queries.
The Company’s share price may be affected by various factors, including changes in its business operations, financial performance, and market conditions.
For more information, please consult the Company’s official announcements and filings with the relevant regulatory authorities.
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