.jpg)
Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) today announced the pioneer adopters of their Electronic Rights issue (“eRights”) service namely, Technodex Berhad (“Technodex”) and Asia Media Group Berhad (“Asia Media Group”). eRights was introduced by Bursa Malaysia in March this year as part of its e-services initiatives with the aim to continuously enhance efficiencies in market transactions for the benefit of the public and stakeholders.
Bursa Malaysia Chief Executive Officer, Dato’ Tajuddin Atan said, “I would like to commend Technodex and Asia Media Group for their foresight in offering their clients the efficiency and convenience of eRights. These new initiatives and solutions introduced by Bursa Malaysia with the intention of simplifying the processes of market transactions for our investors can only be beneficial when there is market participation. As Bursa Malaysia advances as ASEAN’s Multinational Marketplace and competition heightens across the region, we continuously encourage all member companies listed on Bursa Malaysia to adopt initiatives that will help simplify the access and processes involved, minimise physical form filling and paperwork and ultimately, speed to market and competitiveness.”
Bursa Malaysia’s objective in offering the eRights service is to offer investors greater convenience and ease when it comes to subscribing for rights issues. Applications via eRights means investors can apply for rights issues through the automated teller machines (“ATMs”) of participating banks and internet banking facilities. The automation of this service and additional reach will result in time and cost savings. Investors do not have to incur the stamp duty of RM10 that is applicable to application submitted via physical form.
eRights complements the suit of e-Services launched prior, including e-Dividend and e-Share Application for electronic IPO applications. Public Bank was the first financial institution to adopt the eRights service introduced by Bursa Malaysia as a means to ease the processes of market transactions for the investors.
Technodex Berhad and Asia Media Group Berhad announced their rights issue on 13 August 2013. Eligible investors can apply for their rights issue via eRights beginning 28 August 2013.
Click here for more information on eRights.
