Bursa Malaysia Issues Consultation Paper on CDS eServices
31 May 2019
Bursa Malaysia Berhad issued Consultation Paper 2/2019
today seeking public feedback on proposed amendments to the Rules of Bursa Malaysia Depository Sendirian Berhad (“Bursa Depository”) to facilitate the implementation of the second stage (“Release 2”) of Bursa Depository’s Central Depository System (“CDS”) eServices for individual depositors.
The new CDS eServices will be made available through “Bursa Anywhere
” - a new platform provided by Bursa Malaysia.
The first stage (“Release 1”) of the CDS eServices which was launched on 30 May 2019 enables depositors to perform various depository services via smartphones, such as viewing the balance shareholdings of their direct CDS accounts, accessing monthly statements, updating their particulars and receiving notifications in relation to their shareholdings.
Release 2 will introduce additional features to the CDS eServices that will enable depositors to perform the following –
- open new CDS accounts;
- subscribe for initial public offerings and rights issue;
- transfer securities between their own CDS accounts with the authorised depository agents’ approval;
- reactivate inactive or dormant CDS accounts;
- register for eDividend to receive cash dividends and other cash payments directly into their bank accounts; and
- make payment online to Bursa Depository for CDS related transactions.
The new CDS eServices will provide individual depositors with easier access to their CDS accounts and enable them to carry out a range of services at their convenience without the need for an intermediary.
Release 2 is targeted to be launched by end of 2019.
The deadline for providing feedback on the proposed amendments is 5 July 2019.