Bursa Malaysia Enhances E-payment Framework
Bursa Malaysia, formerly known as Kuala Lumpur Stock Exchange, has extended its electronic payment (e-payment) eDividend facility to all holders of cash payments made by listed issuers to their securities holders.
The Exchange added that the enhancement was done on the back of an encouraging response to the existing facility. Currently 80% of the total dividend payments received by securities holders are made via eDividend.
Bursa Malaysia’s chief executive officer (CEO), Datuk Tajuddin Atan, added that the expansion is also aligned to the national agenda of migrating to e-payment systems that expedite the crediting of cash payments for corporate exercises and reducing the cost associated with the issuance of cheques by listed issuers.
The relevant rule changes to the listing requirements and the rules of Bursa depositary, together with the respective frequently asked questions (FAQs) on this initiative, have been added to the Bursa Malaysia website.