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The subjects are contained in the menu below.
Please click on the bar and select a topic.
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Settlement
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1. What is market day?
2. There are frequent references to “T”. What is “T”?
3. What are the regulations with regards to settlement time?
4. When do I pay for the shares that I bought?
5. When are the shares bought due for delivery?
6. When does payment have to be made for shares bought?
7. How do I pay for the shares that I bought?
8. What will happen if I forget to pay the shares that I bought by T+3 day?
9. Can I contra my unsettled purchase positions?
10. How do I pay or receive money for my share sales or contra gains/ losses?
11. Can I use my contra gains to offset my due contracts?
12. What transaction costs will I pay for online trades?
13. Can I pay using outstation cheque?
14. Can I choose to settle part and not all my due contracts?
15. If there are sufficient funds in my Trust Account, will my due contracts and/or
outstanding balances be settled using these funds?
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1. What is market day?
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A day of which Bursa Malaysia is open for trading.
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2. There are frequent references to “T”. What is “T”?
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' T ' denotes the day which a transaction was done. ' T+1 '
denotes 1 market day following ' T '. ' T+2 ' denotes 2 market days following and so on.
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3. What are the regulations with regards to settlement time?
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Buyer Securities Settlement
A buyer will have his CDS account credited by T +3.
However, if a buyer fails to pay by 12.30pm on T +3, the company then shall 'sell-out'
the shares to cover his outlay on T +4.
Seller Securities Settlement
A seller's CDS account is debited by T +3. This also means that a seller's account does not
have to be in credit, at the point when he trades. However, he must have shares to the credit of
his CDS account on T +2. To settle such trade, he can transfer the required shares into his account
on T +2 day itself before 12.30pm.
If a seller fails to have his shares in his CDS account to
settle a trade on T +3, his trade will fail and buying-in will be instituted against him on the same day.
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4. When do I pay for the shares that I bought?
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Payment must be made not later than 12.30pm by the third market day i.e. T+3 day.
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5. When are the shares bought due for delivery?
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All shares purchased will be due for delivery on T + 3 market days. For example,
if you buy a share on Monday, then the due date for your contract is on Thursday.
Should a public holiday or any non-markets days such as Bursa Malaysia prescribed
closure days and weekend fall within 3 days of the settlement period or on the due date,
the new due date will be the subsequent market day.
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6. When does payment have to be made for shares bought?
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Payments can be made anytime within the 3-market days settlement period. However, all payments
must reach us no later than 3 market days from the date of transaction before 12.30pm.
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7. How do I pay for the shares that I bought?
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If your account is maintained with Kuala Lumpur Principal Office, you may make payment to our
offices or accounts held with our panel of banks, through Cheque, Cash, Inter Branch Online
Transfer, Inter Bank Transfer or Set-off against Client Trust Account.
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a)
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By Cheque: You may pay at our counter located at our offices or fax your deposit slip to your
dealer’s representatives/remisier at any of our Kenanga Investment Bank Berhad offices.
All cheques must be crossed and made payable to “Kenanga Investment Bank Berhad”.
Please remember to indicate your name, trading account number, client code and contact number on
the reverse side of the cheque as well as on the bank-in slip.
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b) |
By Cash: Cash payment can also be made at our counter located at our Headquarter.
(Note: Please note however that cheques and cash will be given value only upon receipt
by us and not on the date of posting or on the date of delivery to your dealer's
representatives. Outstation cheques will also have to include bank charges.)
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c) |
By Inter Branch Online Transfer: If you maintain an account with Standard Chartered Bank (SCB),
you may instruct your home branch to transfer the outstanding amount to Kenanga Investment Bank Berhad
SCB account no. 312143580939. Likewise if you maintain an account with Maybank Berhad, may instruct your
home branch to transfer the outstanding amount to Kenanga Investment Bank Berhad - MBB A/C no.514011620167,
Southern Bank A/C no 1088028565, Public Bank A/C no 3999203821 or HSBC Bank A/C no. 301354452102* you may
instruct your home branch to transfer the outstanding amount to any of the Kenanga Investment Bank Berhad’s
panel bank above. (*This service is limited to tele-banking clients only)
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d) |
By Inter Bank Transfer: You may give instruction to your bank to remit the outstanding amount to Kenanga Investment
Bank Berhad – any bank as stated above except Public Bank.
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e) |
Set-off against Client Trust Account: You may instruct Kenanga Investment Bank Berhad to set-off the amount due
against credit balances in your Client Trust Account.
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8. What will happen if I forget to pay the shares that I bought by T+3 day?
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If payment is not received by due date, the contract will be forced-sold the 4th market day
from the transaction date (T+4) without notification.
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9. Can I contra my unsettled purchase positions?
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Yes, any outstanding purchases can be contra against subsequent sales up to T+3.
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10. How do I pay or receive money for my share sales or contra gains/ losses?
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a. Contra Gains
You will receive the sale proceeds of the shares sold by cheque.
All the sale proceeds cheque will be ready 3 days after the day of your sell transaction.
The cheque can be received in 3 ways:
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No physical cheque will be issued. However, you can request any amount due to you to be credited
electronically to your bank account, by providing us your Bank Account Number or
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ii) |
You can request the cheque to be forwarded to your remisier/ dealer or
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iii) |
You can collect the cheque personally on T+3 after 12:30pm.
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b. Contra Losses
Cash payments for contra losses are to be settled within
the grace period, that is three (3) market days from the day you sold the shares.
An interest would be charged if payments were made after the grace period.
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11. Can I use my contra gains to offset my due contracts?
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Yes, you can instruct us to offset your contra gains against your due contracts.
Please contact your dealer representative to make your instruction.
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12. What transaction costs will I pay for online trades?
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There are no additional charges or costs for online trades. You will however be required to
pay the normal charges such as brokerage, clearing fees and stamp duty, which are also levied
on non-online trades. Online stock trades currently enjoys:
a) |
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The standard brokerage fee of 0.70% for trades below RM100,000. Trades above RM100,000
are subject to negotiable brokerage fee.
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b) |
Clearing fee for On-Market is 0.04% of transaction value (payable by both buyer and seller) subject to a maximum
of RM200-00.
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c) |
Stamp duty is RM 1.00 for RM1,000 or fraction part of value of securities (payable by both buyer and seller).
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13. Can I pay using outstation cheque?
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Yes, however your account will not be credited until the cheque is good for value.
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14. Can I choose to settle part and not all my due contracts?
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Yes, provided the payment is for full marketable lot/(s). For example, if you purchase 6 lots,
you can make part payments for 1,2,3,4 or 5 lot(s) but not in fractions. For further enquiries,
please contact your dealer for assistance.
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15.
If there are sufficient funds in my Trust Account, will my due contracts and/or
outstanding balances be settled using these funds?
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Yes, we will utilise the available balances in your Client Trust Account to settle the due
contracts and/or outstanding balances under your Trading Account.
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