In response to the shift towards online transactions and progress made on the digitalisation of our business, some of our branches will be consolidated. Please note that we will be closing the following Branches on a staggered basis with its services to be transferred to the newly designated Branches:
Branch to be Closed
|
Designated Branch
Date
|
Date of Closure
|
USJ Branch
55C 2nd Floor, Jalan USJ 10/1F,
47610 UEP Subang Jaya,
Selangor |
Subang Jaya Branch
Level 1, East Wing,
Wisma Consplant 2,
No. 7, Jalan SS 16/1,
47500 Subang Jaya,
Selangor |
26 February 2024 |
Triang Electronic Access Facility
1, Ground Floor,
Jalan Dagangan 6,
Pusat Dagangan Triang,
28300 Triang, Pahang |
Seremban Branch
1C & 1D, Ground & 1 st Floor,
Jalan Tuanku Munawir,
70000 Seremban,
Negeri Sembilan |
26 February 2024 |
Please be assured that there will be no change to your account with us and you can continue to trade online through our Kentrade platform or through your Remisiers/Dealers.
If you have any question, please contact your
Remisier/Dealer’s Representative, or your servicing branch.
A list of Frequently Asked Questions is attached for your information and to address any concerns you may have.
Frequently Asked Questions (FAQs)
1. Why is KIBB embarking on this exercise?
KIBB has been continuously undertaking improvements in its equity broking business and operations focusing on digitalising its business and processes. This is done via KIBB’s strategy where we have developed systems that enable remisier mobility and platforms that streamline sales support and back-office services.
KIBB is now ready to embark on restructuring its branches as remisiers/clients of these branches can effectively be served electronically via our Remisier Portal and Electronic Trading Platform.
2. How many branches will KIBB have after this round of rationalisation?
There are 2 branches and 1 Electronic Access Facility (“EAF”) to be closed. After this exercise, KIBB will have 17 branches (including KL Main).
Notwithstanding closure of these branches, KIBB will continue to maintain and further expand its business presence in these locations. The remisiers will remain physically in the locations to serve their clients using the mobility platform.
3. My branch is affected. What will happen to my account with that branch?
You will be notified of the automatic transfer of your account to a newly designated branch. Nevertheless, your trading account, share portfolio and trust monies will continue to be referred using the same account number to avoid any confusion or interruption.
Further details are as follows: –
- Trading Account
Your account will be transferred automatically to the newly designated branch. You do not need to go to the new branch, and no action by you will be necessary for this account transfer. You may contact the newly designated branch for any further enquiries.
- CDS accounts
- If your CDS account is registered with Principal Office (PO), there is no change to the CDS account number. CDS account registered with PO contains “073-001” as the prefix in your CDS account number e.g. 073-001-XXXXXXXXX
- If your CDS account is registered with an affected ADA branch, your CDS account will be automatically transferred to PO with ADA code 001. No action by you will be necessary.
- Prior to your CDS account being transferred to the PO, Bursa Malaysia will send the necessary notice to inform you of the change and the effective date.
- Only if you are planning to apply for an IPO during this period, you need to make sure that you use the correct prefix to avoid any technical rejection.
- Settlements
Settlement services remain uninterrupted although the originating branch is closed. There is no change to banking accounts and you can continue to receive and make payment from your bank account from/to KIBB bank accounts.
4. Will my trading be affected?
No. There is no interruption to stock trading and provision of support services. You can continue to place trade orders through your respective remisier/dealer whom shall continue to serve you via electronic means and phone. You may also contact your newly designated branch for assistance, when required.
5. I have outstanding/pending requests with a branch that is affected. What will happen to my request?
The outstanding/pending requests shall be attended to without interruption by the remisier and your newly designated branch.
6. Can’t find the answer to your question?
If you have any question, please contact your Remisier/Dealer’s Representative, or your servicing branch. In addition, clients may also email KIBB via [email protected] for any questions.
