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The differences between Direct CDS Account and Nominees CDS Account
||Direct CDS Account
||Nominees CDS Account
||Under Client’s name
||Under HLIB Nominees (Tempatan) Sdn Bhd (“HLIB Nominees”)
||No automatic eligibility. Subject to application and HLIB’s discretion.
|Paperwork on Corporate Exercise
(e.g. rights issue, take-over offer, etc.)
|Handled by Client
||Handled by Hong Leong Investment Bank Bhd (“HLIB”) upon instruction given via email / phone call. A fee will be imposed.
||Credited into Client’s savings / current account
||Credited into HLIB’s trust account
||Not eligible unless proxy nomination letter is obtained from HLIB Nominees
||Sent to Client
||Sent to HLIB Nominees. Client may request from HLIB Nominees.
||To own account or to your immediate family member's account only
||Only to own account
Further Terms and Conditions apply.
- When opening a HLeBroking trading account, a CDS Account will be opened at the same time with a fee of RM10.00 being the Bursa Malaysia Depository Sdn Bhd charges.
- CDS stands for “Central Depository System” and it is maintained by Bursa Malaysia Depository Sdn Bhd. HLIB is an authorised depository agent of Bursa Malaysia Depository Sdn Bhd.
- AGM stands for “Annual General Meeting”.