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Merger FAQ
 
What does this merger mean for me?

The merger has led to increased scale and more delivery channels. We now have 22 branches across Malaysia and can tap on a wider range of products offered across Affin Hwang.

Where can I go to obtain additional help and information?

If you have any questions that are not answered in this FAQ, please contact your remisier or dealer directly. Alternatively, you may also contact your servicing branch for assistance.

I have accounts with Affin Investment Bank Berhad (AIBB) and HwangDBS Investment Bank (HIB) today. Can I continue using my accounts from both banks?

Not immediately. Rule 26.02 of Bursa Depository stipulates that no individual depositor shall maintain more than 1 CDS account with the same Authorized Depository Agent. As such, you will need to select 1 CDS account to close. We will then suspend the trading account(s) that are linked to the CDS account to be closed for approximately 6 months until key upgrades have been made to allow us to link your ex-AIBB and ex-HIB trading accounts to the same CDS account.

This applies only to trading in Bursa Malaysia stocks. You will be able to continue trading in foreign stocks through all your ex-AIBB and ex-HIB trading accounts.

I understand that I will have to close 1 of my two CDS accounts if I currently have accounts with both AIBB and HIB. How do I indicate which one I wish to close? What if I do not indicate which account to close?

For individual clients, we will write to you to take the necessary action if you have dual CDS accounts. You can choose one of your CDS accounts to close.

If you do not indicate your choice by 20 October 2014, Bursa Depository will instruct us on the account to be closed without any further reference to you.

Will my CDS account details change?

For former AIBB customers, the prefix on your CDS account numbers will change from 028 to 068. Your branch code will also change according to the branch serving you. This means that your account number henceforth will be 068-XXX-XXXX-X. Bursa will send you an official notification of your new CDS number.

For former HIB customers, there will be no change to your CDS account details.

I use both Hwang eInvest and Affintrade today. Can I continue to use both going forward?

Not immediately. Your online trading account is tied to your CDS account. Hence, which account you can use is dependent on which CDS account you choose to close and which you choose to keep (See question 4).

My trading account allows me to trade foreign shares. Would my trading be affected by the merger?

No. You may continue to trade normally through your existing trading channels.

I have a margin account today with AIBB (or HIB). Will there be changes to the terms and conditions of my margin account?

In the process of ensuring we align on the features of our margin product, there are some terms and conditions that will be changed. We will be sending you a letter with the full revised terms and conditions of your margin account.

I trade online at Affintrade. I have unexpired Good-Till-Date orders on 20 September 2014. What will happen to the Good-Till-Date orders?

Your Good-Till-Date orders will be cancelled on 20 September 2014. You will need to re-enter the Good-Till-Date orders on 22 September 2014 before 9.00am.

I trade online at e-Invest. I have unexpired Good-Till-Date orders on 20 September 2014. What will happen to the Good-Till-Date orders?

Your Good-Till-Date orders are still valid until the expiry date. You do not need to take any action.

AIBB provides financing for Employees Share Option Scheme (ESOS), Initial Public Offering (IPO) – MITI & Public balloting portion (White form). Will these facilities be extended to HIB customers?

Yes, we can make arrangements for you to invest through an alternative channel. Please refer to your respective remisier/dealer or Head of Branch. You will not be able to invest in these products through your existing HIB channel at this time.

HIB customers have access to invest in futures market (KLCI & Palm Oil) and unit trusts. Will these products be extended to AIBB customers?

Yes, we can make arrangements for you to invest through an alternative channel. Please refer to your respective remisier/dealer or Head of Branch. You will not be able to invest in futures through your existing AIBB channel immediately as this is subject to the respective licensing requirements which may take time to obtain.

I normally settle my trades by banking in cheques to the bank accounts designated by AIBB (or HIB). Can I continue to do so?

While we encourage all customers to maintain funds in a trust account with us, we will continue to accept payments via our designated accounts. Effective 20 Sep 2014, please make all payments payable "Affin Hwang Investment Bank Berhad". Please provide your personal details and trading account number on the reverse of the cheque.

Are there any changes in the fees or interest charges/payments under the merged entity?

Commissions remain the same. Key changes in the fees and interest charges/payments are stated below:

  • Interest rate on your trust balance will be determined at the start of every month
  • Interest rate charge on debit notes is 8%
  • Contra losses: Outstanding losses will be charged at 8% p.a. after Contra day + 3 trading days (C+3 days).
  • Contra gains: Payments will be made on Contra day + 3 trading days (C+3 days)
  • Revision in Nominees charges – changes will be reflected in your statement of accounts
  • Revision in Margin charges – changes will be included in a letter to you
Will there be any changes to the branch or remisier/dealer who serves me

There are no other changes to the branch and remisier/dealer serving you until further notice.

Will all services be offered at all branches?

No. We are still working hard at aligning our systems and in the meantime, all branches will only offer the services previously provided. For example, settlement for a former HIB account can only be done at former HIB branches but not at former AIBB branches.