Malaysian bourse Bursa Malaysia Berhad (Bursa Malaysia), payment firm TNG Digital Sdn Bhd (TNGD) and investment firm Affin Hwang Investment Bank Berhad (AHIBB), have teamed up to broaden share trading services in Malaysia via a digital wallet.
The trio said in a statement on Tuesday that they have signed a memorandum of collaboration (MoC) to enable investors to easily participate in the stock market through the TNGD digital platform.
According to the statement, this initiative is part of the exchange’s ongoing efforts to democratize equity investments and promote financial inclusion among Malaysians.
Through this collaboration, retail investors will be able to access a wider array of investment products listed on Bursa Malaysia via the Touch ‘n Go (TNG) eWallet’s GOinvest feature.
The feature will enable investors to seamlessly invest and monitor their GOinvest portfolios, all within a single app, with a user-friendly interface and robust security measures in place to ensure peace of mind.
AHIBB, as the broker partner, will assist investors by offering greater market access, comprehensive research resources, real-time market data and responsive customer support, to enrich their trading experience.
“Bursa Malaysia believes a marketplace that is inclusive is essential for a financially empowered society,” said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia.
“Towards this, we will continue to innovate and introduce new ways for retail investors to confidently participate in, and benefit from numerous opportunities available within the Malaysian capital market,
“This MoC is an excellent demonstration of how various industry players can collaborate and contribute towards this goal,” he added.
TNGD Chief Executive Officer Alan Ni also expressed his optimism about the significant impact that this collaboration will bring forth to eWallet users and all Malaysians.
“This collaboration aligns with our vision of breaking financial barriers and making financial services, including investments, accessible to all,
“Together, we can continue to empower Malaysians to make informed financial decisions, while enabling them to enjoy a hassle-free and secure share trading experience,” he added.
Meanwhile, AHIBB Chief Executive Officer Nurjesmi Bin Mohd Nashir said that the MOC marks the start of a beneficial and symbiotic partnership, formalizing their shared intention to democratize investment opportunities and financial inclusion among Malaysians.
“It establishes the framework for the sharing of thoughts, information and experiences that will unquestionably result in advancement in the Malaysian stock market,
“This important recognition demonstrates our persistent dedication to delivering seamless, comprehensive, and relevant digital experiences that go beyond banking, placing our clients and their ever-evolving needs at the heart of our proposition,” he added.
In addition to offering trading services, the TNG eWallet’s GOinvest feature will host educational investment content.
The content will be curated together with Bursa Malaysia and will cover topics such as fundamentals of investing and introduction to various investments available on Bursa Malaysia, including Exchange-Traded Funds (ETFs).
This will be beneficial to equip retail investors, especially the younger demographic and those new to investing, with the knowledge needed to trade confidently in the stock market.