Bursa speeds up App for CDS holders to manage accounts


BursaAPP

KUALA LUMPUR: Bursa Malaysia Bhd has accelerated the release of a new feature on its Bursa Anywhere mobile application (App) to help Central Depository Services (CDS) account holders.

It said on Friday this move was to enable the account holders manage their accounts remotely in light of the ongoing Covid-19 outbreak.

The new feature allows CDS account holders to reactivate dormant and inactive CDS accounts online without needing to physically visit their brokers.

Additionally, all reactivation fees normally charged to reactivate dormant CDS accounts are waived for reactivations carried out via the APP, effective from April 10 to July 10 July. Currently, there are no charges for reactivating inactive CDS accounts.

Bursa said the APP is a one-stop platform that allows individual investors access to their CDS accounts via their smart devices.

The features offered by the APP include:

• Transfer of shares between an investor’s CDS Accounts via FPX

• Consolidated view of an investors’ CDS accounts (if they have multiple accounts)

• Marked-to-Market Portfolio Value (for securities)

• Self-service updating of CDS information

• Alerts on corporate announcements for an investor’s portfolio

• Access to e-statements with a 12-month archive.

Bursa CEO Datuk Muhamad Umar Swift said the Exchange is committed to take all necessary steps to minimise the impact of the adverse events caused by the Covid-19 outbreak as well as ensuring the safety and well-being of its investors.

“As such, we have decided to accelerate the launch of the new feature to give our investors greater access and convenience during this trying time. It is in our interest to ensure our services remain available and accessible to our investors at all times with minimal or no disruption, keeping in mind their health and safety.

“With our new feature, CDS account holders need not physically visit their brokers to reactive their CDS accounts but instead can now perform their transactions online through the APP from the comfort of their homes”.

“We will continue to enhance our digital touchpoints to provide solutions that can further connect and help create an impact in our marketplace, ” Umar said.

Bursa Anywhere was launched in June 2019. Since then, it has garnered over 40,000 downloads. CDS account holders can download the APP from the Apple Store and Google Play Store to manage all things to their CDS accounts.

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