KUALA LUMPUR: RAM Holdings Bhd has sold its 33.15% stake in RAM Credit Information Sdn Bhd (RAMCI) to information services company Experian (Malaysia) Sdn Bhd at an undisclosed sum.
RAMCI will be rebranded to Experian in the next two months, according to a statement by RAM.
Experian Asia Pacific CEO Ben Elliott said the acquisition further extends Experian’s position in Asia Pacific, adding a fourth credit bureau to its operations in the region.
“Experian has a long history of investment and commitment to Malaysia, given our existing investments in our global delivery centre with its 800 employees, as well as our recent investment in Jirnexu which runs financial comparison website RinggitPlus. By combining Experian’s technology and platforms together with RAMCI’s data expertise and local knowledge, we will better serve consumers and businesses in Malaysia.”
RAMCI will be coming on board as Experian Malaysia’s data arm.
The acquisition will also fast-track Experian’s overall offering in Malaysia – creating more synergies across its data and decisioning portfolio.
Founded in 2000, RAMCI is one of the consumer and business information bureaus in Malaysia. It provides credit reports, alerts and monitoring, primarily to financial institutions, helping them with credit origination, portfolio management and collections activities.
It also has a direct-to-consumer business, empowering consumers to better understand their credit and help protect their identities.
