CTOS and PropertyGuru Group sign MOU to progress innovation in the Proptech space

KUALA LUMPUR, 29 August 2022 – CTOS Data Systems Sdn Bhd, the wholly owned subsidiary of CTOS Digital Berhad, recently signed a Memorandum of Understanding with a subsidiary of PropertyGuru Group, (NYSE: PGRU) (“PropertyGuru” or the “Company”), Southeast Asia’s leading¹, property technology (“PropTech”) company to work together on advancements in property-related technology to revolutionise the digital space of the commercial real estate business in Malaysia.

CTOS, the largest credit reporting agency in Malaysia, has lately been delving into numerous new verticals, with car insurance and tenancy screening having been added to the suite of services offered, while PropertyGuru operates Malaysia’s leading property marketplaces, PropertyGuru.com.my and iProperty.com.my. CTOS’s partnership with PropertyGuru Group will amplify its venture into the PropTech space where the integration of both parties’ innovative solutions and data-driven insights will further address the needs of the property industry while improving consumers’ and developers’ efficiency as well as effectiveness in making more informed property investment decisions.

The MOU includes collaborations on wide ranging initiatives such as financial literacy where PropertyGuru consumers will get access to free CTOS reports with CCRIS and educational materials. The partnership will also promote a clear understanding of the co-relation between credit health and real estate investment to offer consumers the ability to determine affordability, receive the right returns and assess credit risks in property purchasing. Additionally, integrations between the two companies will enhance affordability, tenancy and loan eligibility tools not only for consumers but also landlords and property agents.

“Our partnership with PropertyGuru promises the start of a long and rewarding relationship between both companies with a joint aim to redefine customer experience in the real estate industry in Malaysia,” commented Erick Hamburger, Group CEO of CTOS Digital Berhad. “We will pioneer new ground to increase market and performance insights for both parties and our clients, through data, analytics and innovation. Furthermore, together we can continue to promote our shared goal of increasing financial literacy across the country.”

Shyn Yee Ho-Strangas, Managing Director of Data and Software Solutions at PropertyGuru Group added, “By harnessing the integrated power of our proprietary data, technology and people, our partnership allows us to share our expertise and knowledge in achieving several shared objectives: consumers will be able to make more confident decisions throughout their property journey by having access to real time, accurate and independent data; agents will be able to service their customers more effectively and productively; and there will be an overall data and technology-enabled transparency and efficiency created in the real estate eco-system.”

PropertyGuru consumers and agents will be able to enjoy the latest innovations to the real-estate industry in the coming months.

To learn more about credit health, or to sign up for the CTOS self-check service, go to https://www.ctoscredit.com.my.

For more information about PropertyGuru, please visit PropertyGuruGroup.com.

ABOUT CTOS DATA SYSTEMS SDN BHD

CTOS, Malaysia’s largest private credit reporting agency, is a registered Credit Reporting Agency under the Credit Reporting Agencies Act 2010. Established in 1990, CTOS has over 30 years of experience in aiding credit grantors make better credit decisions. CTOS utilises information from its users and the public domain to support informed decisions and facilitate fact-based risk management when providing credit extension. CTOS delivers a complete portfolio of credit reports and value-added services and is widely used by the country’s banking and financial institutions, insurance companies, large corporations, legal firms, businesses and state and statutory bodies.

For more information, visit http://www.ctoscredit.com.my/

ABOUT PROPERTYGURU GROUP

PropertyGuru Group is Southeast Asia’s leading¹ property technology company, and the preferred destination for over 38 million² property seekers to find their dream home, every month. PropertyGuru and its group companies empower property seekers with more than 3.3 million³ real estate listings, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

PropertyGuru.com.sg was launched in 2007 and has helped to drive the Singapore property market online and has made property search transparent for the property seeker. Over the decade, the Group has grown into a high-growth technology company with a robust portfolio of leading property portals across its core markets company; award-winning mobile apps; a high quality developer sales enablement platform, FastKey; mortgage marketplace PropertyGuru Finance; and a host of other property offerings including Awards, events and publications across Asia.  

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

¹ Based on SimilarWeb data between January 2022 and June 2022.

² Based on Google Analytics data between July 2021 and December 2021.

³ Based on data between July 2021 and December 2021.