News
News
Bursa Malaysia As A Multi Asset Exchange
BackJan 16, 2024
| Type | Announcement |
| Subject | OTHERS |
| Description | BURSA MALAYSIA BERHAD ("BURSA MALAYSIA" OR "THE COMPANY") - BURSA MALAYSIA AS A MULTI-ASSET EXCHANGE |
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Bursa Malaysia wishes to announce the launch of a new product offering together with several solutions namely, the new app for gold as an investment asset (Bursa Gold Dinar), a new Customer Portal (MyBURSA), and a new platform to connect investors directly with dealer representatives (BURSA REACH).
The above launch, which is scheduled on 16 January 2024, is in line with Bursa Malaysia’s strategy to further develop the capital market by providing greater access for investor participation through a wider range of new investment assets and tools. This is also part of the Company’s efforts as an Exchange, to serve customers’ needs and enhance market liquidity, supporting further economic growth in the country. With respect to the launch of the Bursa Gold Dinar platform (BGD), the relevant information on this initiative is as set out below:- 1. Introduction Bursa Malaysia will launch the BGD, which is a Shariah-compliant gold trading platform, providing investors with digital convenience to invest in physical gold through a mobile app. 2. Details of Bursa Malaysia Digital Sdn Bhd (formerly known as BM Digital Sdn Bhd) Bursa Malaysia Digital Sdn Bhd (formerly known as BM Digital Sdn Bhd) (“Bursa Digital”) was incorporated on 26 October 2022 as a wholly-owned subsidiary of Bursa Malaysia. The principal activities of Bursa Digital are to provide, operate and maintain a market for precious metals and commodities. 3. Background The BGD will be operating under Bursa Digital. It will be available to Malaysians and those residing in Malaysia who meet the eligibility criteria, offering them a trusted and secured gold investment opportunity. In making investing more accessible, BGD offers extended trading hours to 11:50 p.m., seven days a week, with an investment entry-level as affordable as RM10. Investors will also have the option to transfer gold to their loved ones, and redeem every 4.25g of gold owned into a physical, custom-designed coin delivered to them. 4. Financial effect of BGD The operationalisation of BGD by Bursa Digital will not have any material effect on the earnings per share, net asset per share, share capital and the substantial shareholders’ direct and/or indirect shareholdings of Bursa Malaysia for the financial year ending 31 December 2024. 5. Regulatory approvals The Securities Commission Malaysia (SC) had on 4 April 2023 expressed its ‘no-objection’ to the operationalisation of BGD by Bursa Digital, a wholly-owned subsidiary of Bursa Malaysia. 6. Interests of Directors, Major Shareholders and/or Persons Connected None of the Directors and/or major shareholders of Bursa Malaysia and/or persons connected with them have any interest, direct or indirect in the BGD. The above launch of BGD is part of Bursa Malaysia’s offering as a Multi-Asset Exchange, with the view to expand the capital market offerings and provide more access opportunities to investors. In this respect, Bursa Malaysia has also operationalised its Bursa Carbon Exchange last year with the trading of carbon credits. Further, the debt fundraising platform of Bursa Malaysia RAM Capital Sdn Bhd, a joint venture together with RAM Holdings Berhad, was launched in December 2023. This announcement is dated 16 January 2024. |
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Announcement Info
| Company Name | BURSA MALAYSIA BERHAD |
| Stock Name | BURSA |
| Date Announced | 16 Jan 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-15012024-00034 |