Credit Bureau Asia Limited’s AGM Raises Questions on Licensing, Business Operations, and Dividend Payout

Credit Bureau Asia Limited (TCU) recently held its Annual General Meeting (AGM), where several key issues were raised by shareholders. The company, which operates in the financial services sector, provides credit reporting and risk management solutions.

Key Points from the AGM

• The company’s 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 effective from April 1, 2025.
• The license was issued on April 2, 2025, and CBS operates two main business segments: financial institutions (FI) data business and non-FI data business.
• Shareholders inquired about the reasons behind CBS being issued a new license and whether it enables the company to broaden its services or offerings.
• The management was asked to clarify if this license is new and distinct from existing licenses held by the group.

Operational and Financial Matters

The AGM also raised several operational and financial matters that shareholders want clarity on:

• The company’s innovation pipeline: How new products and services are identified, developed, and brought to market.
• Examples of credit reports offered by the group were requested, as well as how the company identifies and develops new products and services.
• The potential impact of macroeconomic volatility on the FI and non-FI businesses, particularly in the event of a global economic slowdown.
• The company’s plans for the Vietnam market, where it had signed a Memorandum of Understanding (MoU) with FiinGroup JSC four years ago to form a joint venture.
• The progress made towards establishing operations in Vietnam and any remaining hurdles.
• The allocation of cash and capital: The company held \$67.0 million in cash and bank balances as of December 31, 2024, with approximately \$30 million in short-term deposits.
• A balance of \$20.8 million remains unutilized from the Initial Public Offering (IPO) proceeds of \$27.0 million raised five years ago.

Board Attendance and Effectiveness

Shareholders also raised concerns about the attendance of directors at board and committee meetings:

• The executive chairman, Mr. Kevin Koo, was absent from a board meeting, and shareholders inquired about the extenuating circumstances.
• Mr. Low Seow Juan missed one out of two board meetings and audit committee meetings, as well as the nominating committee meeting.
• The company was asked to confirm whether these absent directors participated remotely via tele- or videoconferencing.
• Shareholders also questioned if the board is satisfied that directors have discharged their fiduciary duties and committee responsibilities effectively.

Disclaimer

This article is based on publicly available information and is for general information purposes only. It should not be considered as investment advice or a recommendation to buy or sell shares. Readers should do their own research and consult with financial advisors before making any investment decisions.

Provocative SEO Title: Credit Bureau Asia’s AGM: What’s Behind the New License and Business Operations?
Share Price Sensitive Information:
The issuance of a new license to Credit Bureau (Singapore) Pte Ltd for consumer credit reporting business
The company’s plans for the Vietnam market and its joint venture with FiinGroup JSC
The allocation of cash and capital, including the use of IPO proceeds
The attendance of directors at board and committee meetings
Recommendation: Shareholders and potential investors should closely monitor the company’s announcements and updates on its business operations and financial performance.
Related Information: The company’s stock code is TCU, and it is listed on the Singapore Exchange (SGX).
The information provided here is based on publicly available data and may not be up-to-date or accurate.
For more information, please visit the company’s website or refer to its official announcements.
No actionable recommendation or advice is being made.

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