KUALA LUMPUR: More than 93% of RAM Holdings Bhd’s (RAM) shareholders have voted in favour of CTOS Digital Bhd upping its stake in RAM to past 20%.
The credit score reporting company, in a press release, stated it gained 93.86% of the shareholder vote for rising its stake in RAM at an annual normal assembly immediately.
CTOS solely intends to nominate one member to the board of administrators to make sure continued independence and governance of RAM.
“Further, CTOS Digital will actively work with the board of directors of RAM to preserve and strengthen RAM’s internal controls, processes, and governance frameworks and will not be involved in any ratings-related decision-making processes,” it added.
CTOS stated it began this funding software on April 15, 2021, and undertook a rigorous course of with the Securities Commission to find out the way it might add worth to RAM.
It stated it’s well-positioned to work intently with RAM to develop new ranking options for corporations, particularly small and medium- sized enterprises (SMEs) to entry broader kinds of credit score and develop their companies.
“This in turn will accelerate the RAM’s growth and establish it as the leading rating agency, not just in Malaysia but regionally,” it added.
