CTOS Data Systems Sdn Bhd (CTOS), Malaysia’s largest credit reporting agency, recently signed a memorandum of understanding (MoU) with HB Online (3M) Sdn Bhd (HB3M) an innovative and unique online marketplace where buyers and sellers can come together to source and supply building materials, hardware and machinery.
Dato Seri Darren Chan Lian Leong, CEO of HB3M said, “HB3M, which stands for Hardware, Building Material, Machinery Malaysia was created in response to rapidly advancing technologies across all sectors making the world smaller in terms of communication and logistics. Those in the construction industry must keep up with these advancements in order to sustain their business so HB3M developed a platform to benefit both buyers and merchants. HB3M will use CTOS services to accredit any merchants before they can list their products on our platform, empowering users with increased confidence when servicing their clients.”
“This partnership with CTOS will ensure that our online platform and the mobile app which will be coming soon can deliver vital supplies to customers without cost overruns. As a one stop centre which caters to all building materials needs, this guarantee of dependability will allow us to expand our coverage and allow us to diversify our network of merchants while maintaining an excellent user experience,” he added.
HB3M allows for convenient transfer of building construction materials based on purchasers’ geographical location. When prices are not available for large orders on the platform, merchant quotes are provided within 48 hours of inquiry.
“With the ability to tailor our solutions to businesses of all sizes, CTOS is proud be the official CRA for HB3M. In conjunction with this partnership, we will be providing HB3M with CTOS Credit Manager, a powerful credit management tool to access comprehensive business and credit information of prospective merchants as part of their onboarding and evaluation process. With this, HB3M will be able to expand the capabilities of the online platform and allow its users to transact with increased confidence. This is because users can be assured that they will only be dealing with accredited merchants that have undergone a stringent due diligence process using CTOS.” Dennis Martin, Group CEO of CTOS said at the signing of the MoU.