Credit Bureau Malaysia (CBM) and MyProperty Data Sdn Bhd have introduced the CBM-PropertyAdvisor services, aimed at assisting financial institutions and other credit grantors in doing credit reviews and sensitivity analysis of their entire portfolio.
MyProperty Data director Datuk Abd. Hamid Abu Bakar said the cooperation was aimed at developing new services to assist financial institutions and credit providers not only improve the customer’s credit ratings but can carry out a review and analysis with more prudence.
“This service enables financial institutions and credit providers with a large number of assets as collateral in the loan portfolio to benefit from the implementation of the Financial Property Standards (MFRS) 9,” he said at a presentation of the revised value of real estate in collaboration with CBM here today.
According to MyProperty Data research and strategy director John Lee, ProxyPrice enables credit grantors with a significant amount of property assets as collateral in their credit or loan portfolio to get a more accurate quote for property prices.
“This is something that is very new and very powerful. ProxyPrice provides an indicative price for a subject property, based on actual historical transactions and not guesswork.
“Every single data that you get is based on actual transactions, based on the data we have from JPPH (Valuation and Property Services Department),” he said, adding that the services are powered by Big Data analytics.