A Platform For Digital Rights Issues Subscription Services

In September, Tricor Malaysia, the leading provider of share registration services launched a digital platform for the subscription of and payment for rights issues.

As a Share Registrar who carries out the distribution and collection of corporate exercise application forms, Tricor Malaysia operates TIIH Online to digitalize the management of submission of documents and payment of subscriptions to share entitlements.

The new electronic rights issues subscription service was successfully used by one of Tricor’s clients to complete their recent rights issue exercise in September 2019. TIIH Online which became operational in 2017 is a proprietary application designed to help meet corporations’ investor services needs through digitisation and in support of the government’s vision envisaged in the Fourth Industrial Revolution.

TIIH Online is essentially a one-stop digital platform for participation of corporate exercise online and submissions of all time critical public-listed company documents such as rights subscription forms (RSF), dividend reinvestment forms, proxy forms and remote participation forms.

The platform also electronically facilitates services such as participation in dividend reinvestment plans, application for Initial Public Offerings (IPO), lodgement of proxy forms for general meetings as well as exercising for conversion rights of non-equity securities such as warrants and irredeemable convertible unsecured loan stocks. Public listed companies who engage TIIH Online can also offer its shareholders the chance to remotely participate in general meetings in adherence with the Malaysian Code of Corporate Governance (MCCG).

Approximately 10,000 users are currently registered on the TIIH Online platform. To date, 60 Tricor’s clients have already used the digital platform.

According to Tricor Group CEO Lennard Yong, the company’s latest innovation, the electronic rights subscription service, is a pioneering move in Malaysia which enhances client experience and improves efficiencies by phasing out the traditional methods of submitting hard copies of rights subscription forms and cheques.

“Our electronic rights subscription service is a game changer for the industry as it offers tremendous cost and time savings. Shareholders will benefit from instant updates via email from anywhere in the world which means they won’t lose investment opportunities through late or non-receipt of RSF through mail, instant acknowledgment and delivery as well as secure payment gateway allowing shareholders the flexibility to use their own internet banking facility to execute all payments,” said Yeap Kok Leong Tricor Malaysia CEO and Managing Director.

Tricor Malaysia Executive Director – Head of Investor Services Saw Wai Chuan also commented: The TIIH Online platform was designed and built by an in-house team which is deeply knowledgeable about Malaysia’s share registration industry, practices and regulators’ stringent requirements.

TIIH Online is also regularly subjected to external security audits to ensure security and functionality 24/7 to assure shareholders of a seamless, safe and convenient conduit designed for their convenience.

 

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