PETALING JAYA: Kenanga Investment Bank Bhd has launched its KenTrade Trading Challenge for the second year running and expects some 15,000 participants to enrol.
The challenge, which drew 12,000 participants last year, would now introduce three new sponsors in addition to returning sponsors Bursa Malaysia, Volkswagen Malaysia, Star Media Group Bhd , EquitiesTracker.com and ChartNexus Sdn Bhd.
The new sponsors are Berjaya RadioShack-owned RadioShack Malaysia, KenWealth and Netlnfinium Solutions Sdn Bhd.
“The month of challenge from Oct 1-30 requires an investment outlay of about RM500,000, but that’s a worthwhile investment to educate the public on investing in the stock market.
“From last year’s challenge, we noticed that the general public were apprehensive about participating in the actual stock market, so the KenTrade would be a great way for them to test learn and develop market strategies without worrying about losing actual money,” Kenanga electronic trading and market development senior vice-president Esther Low Siew Cheng told StarBiz at the launch of the challenge.
Open to all Malaysians aged 18 and above, the KenTrade Trading Challenge 2 this year will once again feature two categories of participants, namely, the Student (between 18 and 24 years of age) and the Public (18 years and above) categories.
Participants will be given RM1mil virtual money to trade from Oct 1-30.
The top-20 players (10 from the Student and 10 from the Public categories) with the overall highest growth (which will look at virtual realised profit, unrealised profit and cash balance) from Oct 1 to 30 will qualify to participate in the grand finale on Nov 9.
The grand prize will be a Volkswagen Beetle 1.2 TSI worth RM135,888.
The top-33 participants from each category who had achieved the highest percentage portfolio growth received cash prizes.
Out of the 66 semi-finalists, only the top-10 in each category qualified for the Face-Off Challenge.