Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) today has rolled out a new set of features on its mobile app Bursa Anywhere. The new additional features will enable investors to apply online for new Central Depository Services (“CDS”) accounts and register for e-Dividends via the app.
With over 60,000 downloads, Bursa Anywhere makes it easy for investors to manage their CDS accounts remotely from their smart devices. The latest release follows the earlier update in April which allowed CDS account holders to reactivate dormant and inactive CDS accounts online without the need to physically visit their brokers.
Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia said, “Given the new norms, investors will be relying on remote methods for added safety and convenience. The Bursa Anywhere new features significantly simplify investors’ investment experience, with new technology used to enhance their investing journey further. For example, users with multiple CDS accounts can easily access all account information through one app. With features such as Share Transfers, investors can also conveniently transfer shares without having to fill up forms or the need to leave their homes.”
The new updates released today means that Bursa Anywhere offers new and existing investors the convenience of applying for new CDS accounts remotely. The e-Dividend subscription feature allows users to receive cash dividend entitlements via e-payments instead of cheques. Previously, investors were required to submit forms and other supporting documents through their brokers. Now, all applications and submissions of documents can be performed via Bursa Anywhere. In addition, for both new releases, all registration fees will also be waived for one month starting today.
Retail investors in our equity market have witnessed substantial growth in the last few months. Comparing year-to-date May 2020 with the same period last year, the total retail registered an increase of 30% in new accounts opened while trading activity among retailers registered an 82% increase in average daily value. The retailers were also net buyers at RM5.1 billion, a 607% increase compared to the same period last year. We believe retail investor outreach initiatives by the Exchange and broker partners have helped strengthen investor confidence and prompting them to actively participate in the equity market. While increased participation of retail investors is a significant development, equally noteworthy is the evolving mindset of the digitally-savvy retail investors. Our team will continue to enhance our digital touchpoints to provide better features and functionality that will meet the demands of these modern investors.
Bursa Anywhere was launched in June 2019 and has received positive feedback. The app is available for download in the Apple Store and Google Play Store.
