BASISNET - NOTICE TO CUSTOMERS IN COMPLIANCE WITH CREDIT REPORTING AGENCIES ACT 2010 (ACT 710) SECTION 23 (1)

NOTICE TO CUSTOMERS IN COMPLIANCE WITH CREDIT REPORTING AGENCIES ACT 2010 (ACT 710) SECTION 23 (1)

We respect the privacy of our valued customers and prospective customers and the use of their credit information. We process their credit information made available to us, in compliance with the Credit Reporting Agencies Act 2010 (Act 710).

Your credit information, including without limitation to the credit information obtained from the registration form/sales form/survey form/ sub-sale form you have provided to us, our marketing and sales agents and/or our website advertising service providers, your participation in our contests, and/or any further updates provided to us, BASIS and its subsidiaries, associates, affiliates and/or members within the BASIS group of companies (collectively, referred to as "us", "our" or "we") by you in relation to your credit information, will be processed by us for the purpose of providing you information about our products and/or services, providing you our services including credit checking for individual or companies, debt collection, website management, business solutions systems, providing your personal details for purpose of job recruitment or student recruitment, to carry out the obligations and/or transaction(s) you have requested, agreed and/or authorized us to do, to request additional information on the feedback that you provide about the product or services that you are using, to obtain feedback and/or conduct surveys in relation to our products and/or services, to provide you with advance notice of our events, for you to participate in our contests, to tell you about new product and/or service releases which may be of interest to you, and/or such other purposes referred to in our Privacy Policy (collectively, "Purpose").

We also wish to inform you that your credit information may be disclosed to third parties, such as to our subsidiaries, associates, affiliates and/or members within the BASIS group of companies, joint venture partners, the management corporation, banks, public amenities and utilities providers, service providers and such other classes of third parties referred to in our Privacy Policy, which may be located within or outside Malaysia, for reasons relating to the Purpose.

You may request for access to or correction of your credit information or limit the processing thereof at any time hereafter by submitting such written request to us via:

Contact Person: Credit Consultant
Telephone Number: +603-9051 6999
Fax Number: +603-9051 6888
Email: [email protected]

Any inquiries or complaints with respect to your credit information should also be channeled to us in this manner.

You represent and warrant that the consent of third parties (e.g. you emergency contact person, referrals, authorized representative) whose credit information you have provided and disclosed to us have been sufficiently obtained to allow us to process the same in relation to the Purpose.

Please note that it will be necessary for us to process your credit information for the Purpose, without which we will not be able to carry out the Purpose.

For further information on how we collect and process your credit information, please review our Privacy Policy at www.basisnet.com.my. The list of BASISí»s subsidiaries, associates, affiliates and/or members within the BASIS group of companies which are processing your credit information for the Purpose is also available on our website at www.basis.com.my.

We trust that you will consent and agree to the terms above with respect to the processing of your Credit information by us. If we do not receive any response from you on the above, we shall assume that you are agreeable to the same.

SUMMARY OF RIGHTS CREDIT REPORTING AGENCIES ACT 2010 [ACT 710]

The Credit Reporting Act 2010 promotes fairness, accuracy and privacy in the practice of credit reporting. Credit reporting agencies collect and disclose information about you, such as a failure to pay your bills or if you have been made bankrupt. The Act, gives you specific rights, most of which are summarized as below.

You must be informed by the credit reporting agency by way of a notice which states;
  • that credit information is being processed by or on behalf of the credit reporting agency together with its description;
  • the purpose for which the information is being processed;
  • the source of such information;
  • of how you can contact the credit reporting agency in case you have any inquiries or complaints;
  • you have the right to access to such information and also have the right to request the credit reporting agency to correct your credit information; and
  • to whom the credit information will be disclosed.

Your credit information cannot be collected and used for any purpose other than what is provided under the Act.

This means that a credit reporting agency, may only collect and use your credit information to prepare a credit report to assess your credit worthiness, which includes but not limited, to any history of failure or diligence regarding payment of your bills (reputational collateral). Your credit information cannot be used or disclosed by any credit reporting agency for purposes other then what is permitted under the Act. An example of such activity includes but not limited to, is disclosing your credit information for direct marketing purposes. In the event that you have information regarding the occurrence of such practice then a complaint may be forwarded to the Registrar.

Your consent must be obtained before a credit reporting agency can disclose/reveal your credit information.

This means that a credit reporting agency must get your consent before they can submit your credit report to their subscribers.

Your credit report can only contain information according to the Act.

This means that a credit reporting agency cannot include such credit information in their report regardless whether you have given consent or not;
  • if the source of such credit information is not included in the report;
  • if such credit information is regarding any pending proceedings in court more than two years after the proceedings began that has yet to be settled;
  • if such credit information is regarding any default in repayment of credit two years after the date of final settlement of the amount in default.
  • any information relating to a financial action in court against someone who is more than two years after the date of commencement of the proceeding, unless the current status of the legal action has been determined and included in the credit report.
  • any information relating to any default in repayment of credit two years after the date of final settlement of the amount in default, including the settlement amount payable pursuant to a scheme of arrangement with creditors.

Your right to request from a credit provider information regarding reasons of unfavorable credit action

This means that if a credit provider has taken an unfavorable credit action against you for example; rejects your application for a loan, and that rejection was based on a credit report provided by a credit reporting agency, then you have the right to be informed of the identity of the credit reporting agency. You have the right to access the said credit report.

Your right to access credit information or credit report

This means that you have the right to have access to your credit information or credit report from a credit reporting agency which holds or have processed your credit report. However the credit reporting agency must verify your identity and confirm that such information is indeed in their database before complying. Upon your request and upon payment of any fee which may be prescribed by the agency in custody of your credit information.

Your right to dispute incorrect credit information

This means that if your credit report which was disclosed to the credit provider in response to the application for credit made by you, and such credit report contain incorrect information, you then have the right to challenge such credit report according to the procedures provided under the Act.

Contact information:

Credit Reporting Agency Name : BASIS CORPORATION SDN BHD
Credit Reporting Agency Registration Number : 315708-X
Telephone Number : 603-90516999
Facsimile Number : 603-90516888
Email address : [email protected]
Web address : www.basisnet.com.my
Postal address : Wisma BASIS, No 11-15 Jalan Tasik Selatan 8, Bandar Tasik Selatan, Sungai Besi, 57000 Kuala Lumpur, Malaysia.


Office of the Registrar for Credit Reporting Agency:

Enquiries line : 03-88906560/6561
Fax : 03-88906423
Email address : [email protected],[email protected]
Web address : ppapk.treasury.gov.my
Postal address : Level 1, Treasury 2, Ministry of Finance Complex, No. 7, Persiaran Perdana, Precinct 2, 62590, Putrajaya