This was on the back of a record quarterly revenue of RM46.5 million in Q2 2022, which is 22.9% higher compared with the RM37.8 million in the previous corresponding quarter.

The better results was achieved on the back of strong performance by its core businesses across all three customer segments, namely Key Accounts, Commercial and Direct-to-Consumer.

CTOS Digital group CEO Eric Hamburger attributed the strong performance to increased service penetration and expansion of customer base.

“Our analytics and digital products also continue to help drive our results,” he said in a statement today.

“With the traction shown in the first half of 2022 and accelerating momentum moving into the second half of the year, we are on-track to deliver a solid performance this year, supported by business as usual growth, expansion into new verticals and reaping the harvest from our value accretive acquisitions,” he said.

CTOS Digital will be seeking shareholders’ approval at its upcoming extraordinary general meeting for its proposed acquisition of an additional 19.9% from Oscar Matrix Sdn Bhd and potentially up to another 30.9% from other shareholders of RAM Holdings Berhad (RAM). CTOS Digital currently holds 19.225% in RAM.

“We believe the proposed acquisitions will allow both CTOS Digital and RAM to leverage on each other’s expertise in credit assessment, data analytics and digital solutions to provide a more comprehensive suite of products and services, thus enhancing the value proposition to each company’s customer bases,” Hamburger said.

“Upon shareholders’ approval, we target to complete the transactions by the third quarter. After this, we plan to use the next one to two years to digest our acquisitions and realise each company’s growth potential and maximise synergies,” he added.

CTOS Digital declared a second interim single-tier dividend of 0.59 sen per ordinary share in respect of the three-month financial period ending June 30, 2022, which will be paid on Sept 13, 2022.