KUALA LUMPUR: CTOS Data Systems Sdn Bhd has denied that it blacklists anyone, saying it merely consolidates and provides credit information of consumers’ payment behaviour obtained from public and proprietary data sources and its subscribers to lenders and credit grantors.

       Its chief executive officer Eric Chin said that as such, it is not passing any judgement but is accurately showing how consumers have managed their credit.

       "Decisions on credit applications are made exclusively by the lenders and credit grantors themselves, in accordance to their risk appetite, business policies and strategies,” he said in a statement today.

       The statement was in response to a remark attributed to Yayasan My First Home chairman Tan Sri Vincent Tan during the launch of the foundation, that about half of "those who were allotted a low-cost affordable house were unable to get financing due to poor credit ratings and being blacklisted by credit agencies like CTOS and other lenders for not paying their dues to credit card companies, hire purchase and other instalment payment plans they had signed up for.”

       In the news article, Tan was further quoted as saying these defaulters are often blacklisted and classified as non-creditworthy even when the amount outstanding and owed by them is relatively small.

       Chin said as the leading credit reporting agency in Malaysia, CTOS is committed to play its part in helping individuals and businesses obtain credit.

       He said it is committed to engaging in dialogues or discussions with all key stakeholders, including the regulators and the media, with the aim of increasing awareness on the importance of credit reporting agencies and their positive contribution to the national economy.

       CTOS has conducted over 350 financial education roadshows and webinars across the country in partnership with, among others, Bank Negara Malaysia, the Finance Ministry, Employees Provident Fund and Credit Counselling and Debt Management agency. - Bernama