Like Singapore markets, Malaysia equities have attracted investor interest in 2024.
As at Nov 20, the Kuala Lumpur Composite Index (KLCI), which tracks the 30 biggest companies on the Bursa Malaysia mainboard, has risen nearly 10 per cent since the beginning of the year to 1,598.18. Singapore's Straits Times Index rose by 15.5 per cent over the same period.
Riding on this positive mood in Malaysian stocks, CGS International Securities on Nov 18 launched UP, which it touts as the first trading platform in the region that allows users to invest in fractional shares of stocks listed on Bursa Malaysia.
The platform will offer a group of large-cap stocks on the KLCI, said Mr Elgin Ting, group head of strategic partnerships at CGS International, adding that investors will now have more options with fractionalised shares.
The stocks include conglomerate YTL, which has businesses in construction, power generation and transmission, and hotel development and management; Public Bank; Malayan Banking; electricity company Tenaga Nasional; IHH Healthcare; and telco CelcomDigi.
CGS International acts as a nominee, holding the full share on behalf of investors and allowing them to trade fractions of it. This enables smaller investments in high-priced stocks.
The UP - Live UP, Invest Up app can be downloaded on Google Play and Apple's app store.
It is targeted at investors who have little to no experience in trading, and is regulated under Singapore rules, Mr Ting said.
Singapore citizens, permanent residents and those holding employment passes can open a trading account on it.
This story is from the November 21, 2024 edition of The Straits Times.
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This story is from the November 21, 2024 edition of The Straits Times.
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