KUCHING: CTOS Data Systems Sdn Bhd (CTOS) clarified that it does not have the power to blacklist any person as its main role is to collect and process credit information of individuals' and businesses' borrowings and repayments, and provide them to credit grantors.
It stressed that it does not make any recommendations as to whether a person or business should be granted credit terms.
In response to a recently published article regarding CTOS' role against rate defaulters, CTOS highlighted that the role of CTOS as a credit reporting agency is simply to maintain a record of historical information about a person's credit experience.
"CTOS obtains its information from statutory bodies, its subscribers and public sources such as government gazettes, newspapers and court filings.
"Examples of data sources include information from the Bank Negara CCRIS, Companies Commission of Malaysia, the Department of Insolvency and the National Registration Department
"This historical information is only kept for up to a maximum of 24 months.
"By using that information, companies can decide how, and on what terms, to offer individuals credit- CTOS does not decide that for the company.â€