KWAP trims CTOS Digital stake after selling 11.4 million shares
The disposal was estimated at RM4.1 million and reduced the pension fund’s holding to 8.206% from 8.724%.
Civil service pension manager Retirement Fund (Incorporated) (KWAP) disposed of 11.4 million CTOS Digital Bhd shares through an open-market sale, according to a filing. The transaction’s estimated value was RM4.1 million, using a closing share price of 36 sen.
The sale lowered KWAP’s stake to 8.206%, compared with 8.724% previously. It took place as the credit reporting agency’s shares reached a record low following a cybersecurity breach in September.
CTOS Digital subsequently rebounded to 40 sen, gaining four sen or 11.11%, with trading volume exceeding 28 million shares. The latest price put its market value at RM884.5 million, while its year-to-date decline stood at 51.22%.
In an Oct 13 update, CTOS Digital said it expected the breach to cut net profit for the year by RM12 million and revenue by RM16 million. Those estimates assumed that some services would remain unavailable until October’s third week.
The company initially disclosed the breach on Sept 23. The cyberthreat led Bank Negara Malaysia to suspend the Central Credit Reference Information System, known as CCRIS, which holds credit and loan data. The suspension disrupted several CTOS Digital credit reporting services, including CTOS Score and related products.
