CTOS is stands for Credit Tip-Off Service. The company itself are categorised as Credit Agency.CTOS Sdn Bhd is an organization that collects information for summons and bankruptcy towards individual or company and the information will be registered into their electronic database. Reports will contains all information such as court file no, location, court order, name, ic no, case status and etc. You can say everything will be recorded in CTOS. Even for summons case, the same thing will be registered. EVERYTHING!!
They will collecting from following:
Court Notice Boards
Summons issued to borrowers
Judgments obtained against the debtors
Other relevant government offices
What categories of information does a CTOS Report contain?
A CTOS report is split into 5 sections containing different categories of information:
Section A – Identity Verification
Helps to identify and verify the subject’s by Identity Number, Full Name, Company or Business Registration Number. This section helps to detect and prevent fraud and identity theft.
Section B – Internal List / Group Exposure
This is for the subscriber’s own information and reference. It relates to their own business experiences with their customers. Information here is only open to the subscriber’s own personnel. No other subscribers have access to this information
Section C – Directorships and Business Interests
Record a subject’s directorships and shareholdings in Malaysian incorporated companies and businesses.
Banks use this section to help verify the true nature of a subject’s ostensible income, especially for company shareholders and business owners.
Section D – Legal Actions Against
Record the legal information. It helps one to have a better insight and understanding on a subject’s background, history and business experience.
Banks use this section to look out for bankruptcy information, legal actions, and case statuses.
Section E – Trade Referees and Subject Comments
Trade Referees – Listed here is the name of Trade Referees. They are CTOS subscribers who may want to share their business experiences known as “Trade References” on subjects and their companies or businesses that they have dealt with. The trade references are the subscribers’ own information not CTOS. Therefore, communication of the trade reference is done directly via email between the trade referee and the inquirer.
Subject’s Comments – This is a facility provided by CTOS to allow parties involved in a case to present their “side of the story”. Comments should be objective and confined only to the case.
CTOS is different from CCRIS because it only collect information from what was published at public and it not involve financial institution.
You can get your CTOS report from:
CTOS Sdn Bhd (209649-U)
Unit A-8-4, 8th Floor, Megan Avenue 1,
No 189, Jalan Tun Razak, 50400 Kuala Lumpur,
Tel: 603-2770 8833 Fax: 603-2770 8834
CTOS is the first step evaluation the bank officer from any financial institution before your loan application to be sent over for approval. It is advisable for applicants to at least service your existing loan for a 12 months period with no late payment or skipping any payment before you plan to take any new loan. The chances are much higher this way. To all people out there who are planning to take up new bank facility or new loan, please get your CTOS report clean before applying to save your time, energy and money.