KUALA LUMPUR: CTOS Digital Bhd's share price which took a beating yesterday losing some 13 per cent of its value, staged a mini rebound today after the company came out to say that it is business as usual for the company.

CTOS Digital's share price closed at RM1.25 a share yesterday.

The company's share price reached a high of RM1.32 a share before settling 3.2 per cent higher at RM1.29 a share as at 4.45pm.

Some 70 million shares changed hands.

In a recent Zoom media briefing, CTOS Digital group chief executive officer Eric Hamburger clarified that there is no impact on operations from a High Court ruling that the Credit Rating Agencies (CRA) Act does not allow for it to formulate a credit score.

He said it was business as usual because the ruling did not include an injunction on its credit score.

At the briefing, Hamburger also said the CRA Act allows for it to formulate credit scores and that it is business as usual for the company.

CTOS Digital's unit is also appealing the decision by the High Court award RM200,000 damages to a businesswoman for inaccurate credit rating in a defamation suit against CTOS Data Systems Sdn Bhd. 

The Business Times has reached out to Bank Negara Malaysia and Ministry of Finance for comments regarding the issue, and is yet to receive a response.

https://www.nst.com.my/business/corporate/2024/03/1025243/ctos-share-price-rebounds