by BERNAMA/ pic credit: bursamarketplace.com
BURSA Malaysia Bhd has rolled out a new set of features on its “Bursa Anywhere” mobile application (app), allowing investors to apply for new Central Depository Services (CDS) accounts and register for e-Dividends using the app.
In a statement today, the exchange said the app makes it easy for investors to manage their CDS accounts remotely from their smart devices, and the e-Dividend subscription feature allows users to receive cash dividend entitlements via e-payments instead of cheques.
“Given the new norms, investors will be relying on remote methods for added safety and convenience.
“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,” its chief executive officer, Datuk Muhamad Umar Swift said.
The “Bursa Anywhere” app was launched in June 2019 and can be downloaded via the Apple Store and Google Play Store.
To-date, the app has seen over 60,000 downloads.
Meanwhile, Bursa Malaysia said retail investors in the local equity market have witnessed substantial growth in the last few months.
“Comparing year-to-date May 2020 with the same period last year, total retail increased 30 per cent in new accounts opened while trading activity among retailers registered an 82 per cent increase in average daily value,” it said.
The retailers were also net buyers at RM5.1 billion, a 607 per cent increase compared to the same period last year.
“We believe retail investor outreach initiatives by the exchange and broker partners helped to strengthen investor confidence and prompted them to actively participate in the equity market,” it said.
Bursa Malaysia also added that its team will continue to enhance its digital touchpoints to provide better features and functionality that will meet the demands of digitally-savvy investors.