Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) has introduced a new service on the Bursa Anywhere mobile application, enabling investors to subscribe for Rights Issue electronically (“eRights”).
The new eRights service offers a convenient method for depositors to apply and make payment for rights issues electronically on the mobile app. With e-Rights, physical rights subscription forms and a trip to the bank or post office for payment are no longer necessary.
Bursa Anywhere was developed to provide investors ease of accessibility in managing their CDS accounts remotely. Besides the eRights service, Bursa Anywhere also facilitates CDS account openings, e-Dividend Subscriptions and reactivation of dormant and inactive accounts. The app has garnered over 190,000 downloads since its release in June 2019.
Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia said, “With the new feature in place, we envisage significant reduction in the risk of a Rights Securities application being misplaced or delayed during the course of postal delivery services. Any refund arising from the excess share applications would be credited directly into the investor’s bank account, instead of having to wait for the refund cheques which was sent via post previously.”
“Since its launch, Bursa Anywhere continues to garner new users with every new upgrade. This latest feature is timely as the Covid-19 pandemic has seen most investors choose electronic options for added safety and convenience. It offers investors tremendous cost and time savings by providing secure access to investment opportunities anytime and anywhere. We are continuously looking to enhance our digital touchpoints as part of our mobile-first experience to meet the evolving demands of modern investors.”
To use this service, investors need to register on the Bursa Anywhere app, which is available for download in the Apple Store and Google Play Store. For more information on the eRights service, visit https://www.bursamarketplace.com/anywhere/
