Soon, you can invest in Bursa Malaysia using your Touch n Go (TNG) eWallet’s GOinvest feature which will be available in the first quarter of next year.
Bursa Malaysia Bhd, TNG Digital Sdn Bhd (TNGD) and Affin Hwang Investment Bank Bhd (AHIBB) recently signed a Memorandum of Cooperation (MoC) that enables retail investors to participate in the stock market through TNG’s digital platform.
Berita Harian reported that through the collaboration, retail investors will be able to access various investment products listed on Bursa Malaysia.
The feature will allow investors to seamlessly invest and monitor their GOinvest portfolio, all in a single application.
AHIBB, as a broker partner, will assist investors by offering better market access, comprehensive research resources, real-time market data and responsive customer support, to enrich their trading experience.
Bursa wants more Malaysians to invest in stock market
Bursa Malaysia’s Chief Executive Officer Datuk Muhamad Umar Swift, said the digital stock investment platform at GOinvest is expected to be available in the first quarter of next year.
We aim to open 100,000 CDS (Central Depository System) accounts through the platform within a year of its launch. Bursa Malaysia believes that an inclusive market is essential for a financially empowered society. Going forward, we will continue to innovate and introduce new ways for retail investors to participate with confidence, and benefit from the many opportunities available in the Malaysian capital market.
Bursa Malaysia Chief Executive Officer Datuk Muhamad Umar Swift
Muhamad Umar said that the retail investor segment has always been important for Bursa Malaysia, with his side having carried out many approaches especially providing financial literacy education and various digital tools for the benefit of new, existing and future investors.
He said Bursa Malaysia currently has 3.14 million registered CDS account holders and out of that number, 2.12 million are retail CDS accounts with only 1.4 million actively involved in trading.
However, this figure represents only a fraction of the 22 million adult population in our country, which shows that there is an untapped potential of 19 million adults for investment. At the end of September 2023, local retail participation in the equity market accounted for 27 percent, equivalent to RM545.3 million or more than a quarter of the total average daily trading value (ADV).
Bursa Malaysia Chief Executive Officer Datuk Muhamad Umar Swift
Meanwhile, TNGD’s CEO, Alan Ni is confident that the cooperation will have an important impact on the e-wallet users and all Malaysians in general.
This collaboration is in line with our vision to overcome financial barriers and make financial services, including investment, accessible to all. Together, we can continue to empower Malaysians to make the right financial decisions, while enabling them to experience a convenient and secure trading experience.
Bursa Malaysia Chief Executive Officer Datuk Muhamad Umar Swift
