KUALA LUMPUR (Oct 20): Civil service pensions manager Retirement Fund (Incorporated) (KWAP) has sold 11.4 million shares in CTOS Digital Bhd (KL:CTOS) amid a small rebound in the credit reporting agency's share price.
According to a filing on Tuesday, the open market transaction had an estimated value of RM4.1 million based on the closing price of 36 sen on Monday.
With the disposal, KWAP’s stake in CTOS Digital was pared down to 8.206% from 8.724%.
The disposal was on the same day CTOS Digital’s shares hit an all-time low on Monday, due to a cyber breach in September. Year-to-date, the company’s counter has fallen by 51.22%.
The counter recovered four sen or 11.11% to 40 sen on Tuesday, with more than 28 million shares changing hands.
At its last price, the group was valued at RM884.5 million.
CTOS Digital said on Oct 13 that the cybersecurity breach is expected to reduce this year’s net profit by RM12 million and revenue by RM16 million. The estimates assume some services remain unavailable until the third week of October.
It first disclosed the cybersecurity breach on Sept 23.
The cyberthreat prompted Bank Negara Malaysia to suspend the Central Credit Reference Information System — a key database of credit and loan data commonly known as CCRIS — disrupting some of CTOS Digital’s credit reporting services, including CTOS Score and other related products.