Bursa Malaysia has rolled out an update for its Bursa Anywhere mobile app, introducing a new feature called eRights. This new feature allows investors to subscribe for rights issue electronically.

The new eRights feature enables investors to conveniently apply and make payment for rights issues via the Bursa Anywhere app. With this, you will no longer need to go through the conventional subscription process, which requires you to post the rights subscription form or hand-deliver it to the listed issuer or share registrar. You can also avoid the hassle of going to a bank to purchase a bank draft or the post office to buy a revenue stamp.

To explain, a rights issue is an offering made by companies to their existing shareholders, allowing these investors to purchase additional shares directly from the company at a discounted price, rather than in the secondary market. The number of additional shares that can be bought typically depend on the number of shares that the investor currently holds.

The chief executive of Bursa Malaysia, Datuk Muhamad Umar Swift said that the new eRights feature will significantly reduce the risk of a Rights Securities application being misplaced or delayed during the postal delivery. “Any refund arising from the excess share applications would be credited directly into the investor’s bank account, instead of having to wait for the refund cheques, which was sent via post previously,” he further explained in a statement.

Datuk Umar also said that this latest feature is timely as the Covid-19 pandemic has brought on a shifting preference for electronic options among investors due to added safety and convenience. “It offers investors tremendous cost and time savings by providing secure access to investment opportunities anytime and anywhere,” he said, adding that Bursa Malaysia is continuously looking for ways to create a mobile-first experience and to meet the demands of modern investors.

In its statement, Bursa Malaysia also emphasised the convenience brought about by the Bursa Anywhere app for its investors. It aims to provide ease of accessibility to its users, allowing them to manage their central depository system (CDS) accounts remotely. Aside from the latest eRights feature, the app also offers services such as the opening of CDS accounts, e-dividend subscriptions, as well as reactivation of dormant and inactive accounts.

Since its launch in 2019, the Bursa Anywhere app has achieved more than 190,000 downloads. If you’re interested in checking it out, you can download the Bursa Anywhere app from Google Play or the App Store.

(Sources: Bursa Malaysia, The Edge Markets)

• TAGS:
• Bursa Anywhere
• Bursa Malaysia
• Covid-19
• Datuk Muhamad Umar Swift
• Rights Issue
• Stock Trading
• Stocks