e-Share Payment Update 
 
 

23 December 2014

To Our Valued Clients,

Effective 2 January 2015, the Bank will introduce e-Share Payment (electronic share payment) as our main mode of payment for Sale Proceeds, Contra Gains and Withdrawal from Trust Account.

Clients who sign up for e-Share Payment will have the above payments directly credited to their bank accounts instead of receiving cheques.

Clients who do not sign up for e-Share Payment will continue to receive cheques. Any cheque processing fee imposed by the commercial bank shall be borne by the clients.

To sign-up for the e-Share Payment service, please:

  1. Fill up the e-Share Payment form (SC/006); and
  2. Submit a copy of the bank's document showing the bank account belongs to you. Joint Account is permitted.

Please provide a copy of the bank's document with certification by an officer from the commercial bank or your Dealer's Representative from the Bank.

Alternatively, if you have registered for Bursa e-Dividend, you can register the same bank account number for e-Share Payment in which no supporting document is required to be submitted.

Notwithstanding the e-Share Payment arrangement, you can still withhold the sale proceeds from direct credit and instruct your Dealer's Representative to use the proceeds:

  1. to pay for your outstanding purchase contract; or/and
  2. to pay for your contra losses/outstanding amount; or
  3. to credit into your Retail Trust Account (RTA) or Securitised Trading Account (STA) account.

The request is to be made on contract by contract basis. The cut-off time to withhold direct credit is 10.30am on T+2 (Sale Day+2 market days).

Excess Refund to clients will be credited into the clients’ RTA or STA, regardless of whether the clients have signed up for e-Share Payment.

Clients may also request through Dealer’s Representative to permanently credit all Sale Proceeds and Contra Gains automatically into their RTA or STA. If clients sign up for e-Share Payment and Auto Credit Into Trust Account (RTA/STA), the Sale Proceeds and Contra Gains will be credited into RTA or STA, and Withdrawal from Trust Account will be credited to their bank accounts.

Please contact your Dealer’s Representative or visit any of our branches to sign up for e-Share Payment or Auto Credit Into Trust Account (RTA/STA).

Thank you.

Affin Hwang Investment Bank Berhad