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

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.

(From upper left) Sheldon Fernandez, Country Manager at PropertyGuru International; Joe Hock Thor, Managing Director, MyProperty Data; James Mitchell, Chief Technology Officer at CTOS Digital and Tracy Gan, Chief Operating Officer at CTOS Data Systems witnessing (from lower left) Shyn Yee Ho, Managing Director of Data and Software Solutions at PropertyGuru Group and Erick Hamburger, Group CEO of CTOS Digital sign a Memorandum of Understanding between CTOS Data Systems and PropertyGuru to collaborate on advancements in property-related technology.

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.