"Investors will be given a one-year grace period to provide their bank account number to Bursa Malaysia Depository to enable the dividend payments to be credited directly into their bank account," the Securities Commission (SC) said yesterday.
It plans to undertake a series of investors' awareness programmes to familiarise investors with the benefits of e-dividends.
Stockbroking companies, meanwhile, will by mid-2010 be required to provide e-share payment options for clients to receive and make payments on their share transactions.
This way, payments will be credited into bank accounts more quickly and efficiently compared with cheques.
"The e-dividends and e-share payment initiatives are an integral part of the initiative to move towards a paperless environment and promote the usage of electronic payments in the capital market," the SC said in a statement yester-day. These new measures were recently announced by Prime Minis-ter Datuk Seri Najib Razak in the 2010 Budget.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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