Sunway Berhad, via its 100% subsidiary, Sunway Holdings, is acquiring a 51% stake in Credit Bureau Malaysia (CBM). Upon completion of the acquisition, Credit Guarantee Corporation Malaysia Berhad (CGC) and Sunway Holdings will be the two (2) shareholders of CBM.
“The acquisition will enable us to advance our ambition of building a financial technology (FinTech) ecosystem and securing a digital banking license, in order to promote financial inclusion for Malaysians and small and medium enterprises (SMEs) aligned with the 10th United Nations Sustainable Development Goal of Reducing Inequalities,” said Sunway Berhad President Dato’ Chew Chee Kin.
The strength and expertise of CBM in credit reporting and trade referencing will complement the existing finance related services offered by Sunway Group, which includes money lending, hire purchase, factoring, cross-border remittance and others.
Source: https://thefintechtimes.com/sunway-group-acquires-stake-in-credit-bureau-malaysia/