CGS International stays upbeat on Credit Bureau Asia following better earnings and higher dividend

Andrea Choong of CGS International has kept her 'add' call and $1.20 price target on Credit Bureau Asia (SGX:TCU) , with a view that the provider of credit data should see a sustained business amid a high-interest rate environment.

For its 2HFY2023 ended Dec 2023, Credit Bureau Asia reported earnings of $5.1 million, up 16% y-o-y and up 9% over 1HFY2023, thanks to stronger than expected revenue for its financial institution data business.