ABOUT MY ACCOUNT
I hold an active account with the previously known OSK Investment Bank Berhad and an active RHB Investment Bank Berhad account as well. Can I continue using both accounts simultaneously?
As both banks have now merged, customers can only maintain ONE account, either with OSK Investment Bank Berhad or RHB Investment Bank Berhad. Dual account holders are not permitted under the merged entity.
This is in accordance with Rule 26.02 of the Rules of Bursa Depository which provides that no individual depositor shall maintain more than one (1) CDS account with the same Authorised Depository Agent.
If I have accounts with both OSK Investment Bank Berhad and RHB Investment Bank Berhad, which of the two will be closed? Is it automatically done or do I have a choice? What am I required to do to close the account?
Customers have a choice to keep their preferred trading account. An official communication will be sent to each customer. Each customer is to duly choose the preferred trading account and inform the bank accordingly. This needs to be completed before the Expiry date (31 May 2013). Please contact your Dealer/Remisier if you require further clarification.
What is Expiry Date?
In compliance with Rule 26.02 (mentioned above), if you do not make known your decision to RHB Investment Bank as to which trading account should be closed, Bursa Depository will suspend both CDS accounts on Expiry date (31 May 2013). To avoid disruption to your business transactions, complete the following before Suspension date:
- Choose one (1) CDS account that you prefer to retain with RHB.
- Submit the application for reactivation of CDS Account Form(s) to reactivate the dormant or inactive CDS account(s), if applicable.
- Submit the Transfer of Securities Request Form to transfer the securities to the Retained Account (“Transfer Request”), if applicable.
- Submit the Application for Closing of Account Form to close the other CDS Account after the securities are duly transferred to the retained account (if applicable).
Call your Dealer/Remisier if any assistance is required.
Are there any fees incurred for the transfer of securities?
The transfer fee (chargeable by Bursa) will be absorbed by RHB Investment Bank Berhad if the transfer request is completed before the Suspension date.
Will my existing account change / get migrated?
Customers with the previously known OSK Investment Bank Berhad will be assigned new account prefix numbers:
- 087-XXX-XXXXXXXXX (converted from CDS account with the previously known OSK Investment Bank Berhad)
- RHB Investment Bank Berhad account holders will continue with their own account. There is no change.
I have chosen to maintain my RHBInvest account. Can I use OSK188 to trade foreign shares online?
No, it is not possible to maintain an RHBInvest trading account and trade on OSK188 Global Trading System.
To trade foreign shares on OSK188, you would need to maintain an OSK188 account. That means, you would need to retain your trading account with the previously known OSK Investment Bank Berhad.
