WOMEN'S DAY: BURSA MALAYSIA WAIVES CDS OPENING ACCOUNT FEE

KUALA LUMPUR, March 8 -- Bursa Malaysia Bhd is waiving the Central Depository System (CDS) account opening fee throughout this month in celebration of the International Women's Day 2021.

Chief executive officer Datuk Muhamad Umar Swift said additionally, Bursa Malaysia and 19 participating brokers are also organising a series of activities through its microsite portals such as Bursa Academy and Bursa Marketplace. 

"You can test your financial literacy, explore educational articles and videos, as well as participate in weekly webinars. 

bootstrap slideshow

"As our study showed that women make up 39 per cent of retail account holders in the Malaysian stock market, we hope the ‘Ring the Bell for #EqualityforEquity (RTB2021) Campaign’ will help improve the quality of equity, reduce the gender investing gap and increase the number of female investors," he said in his opening remarks at the virtual launch of the campaign today. 

The full list of activities is available at https://www.bursamarketplace.com/equality4equity/.

Meanwhile, during the webinar session titled 'She Invest: Seizing The Opportunity During the Pandemic', panelist Angelia Chin-Sharpe said it is important to address the income gap and ensure that women have adequate disposable income so that they have the ability to invest.

"Start small by setting up your own savings scheme for a start. I would advise going into unit trust funds first.

"You can start with an initial investment of RM1,000 per month and top up every month with RM100 to build your nest, and understand the investments before going into the stock market," said Chin-Sharpe, who is the chief executive officer (CEO) and country head of BNP Paribas Asset Management Malaysia Sdn Bhd.

Meanwhile, another panellist, Alison L. Eskesen, vice-president of Mastercard Center for Inclusive Growth, said knowledge and access to networks such as fintech (financial technology) tools -- including robo-advisors -- would also help to boost women's investments and participation in the stock market. 

“Having upfront conversations with people who understand about investments and the stock market is also part of an education process to help people realise where the risks are, as there is an increase in global scams or threats during this COVID-19 pandemic,” said Eskesen. 

One of the training and interactive tools on Bursa Malaysia is the Mirror, Learn and Trade (MLT), which is designed to allow beginners to mirror and monitor the professional trading approach taken by licensed investment advisors who typically build, strategise and manage a virtual stock portfolio. 

Another panelist, CGS-CIMB Securities Sdn Bhd CEO Ruzi Raji Ajith said that copy trading is good for beginners, but noted that it needs to be done through coaching, mentoring and understanding the philosophy of investment as this would help investors preserve the capital and savings against inflation and for emergencies. 

"You need to know the thought and process behind it and the risks attached to each investment," said Ruzi. 

-- BERNAMA