Frequently Asked Questions
Settlement of Contracts
Settlement of outstanding Purchase contracts
How do I settle my outstanding purchase contracts?
Please note that all contracts settlement must be in accordance to the Bursa Securities Fixed Delivery and Settlement System (“FDSS”) Rule. For purchase contract, settlement must be made by T+2 no later by 2:00p.m., failing which force selling shall be initiated by Kenanga Investment Bank Berhad (“KIBB”) thereafter.
Settlement of purchase contract can be made by the following methods:
- Online payment via KenTrade FPX services
- Log on to www.kentrade.com.my and settle your outstanding contracts using e-Payment. Successful FPX transfer shall be auto-credited to your KIBB account.
- By InterBank Fund Transfer, Cheque or Cash Deposit
- Payable to Kenanga Investment Bank Berhad at our branch or panel of bank’s counter
- You are required to indicate name, client code and contract number on the reverse side of your cheque or under the reference column of your bank-in-slip
- For payments made at our panel bank’s counter or ATM machine, please notify KenTrade under ePayment > Offline Payment > Payment Particulars and submit attached as proof of payment for fund sighting process or
- Inform/submit to your Dealer’s Representative (“DR”) your payment instruction for fund sighting process
- For URGENT payment to KIBB, we encourage client to make payment via FPX as it is the fastest and safest channel.
- Set-off using Trust balance
- You can perform set-off using trust balance against your outstanding contracts from KenTrade as per following steps
- Step 1 : Log on to www.kentrade.com.my
- Step 2 : Click on ePayment > Online Payment
- Step 3 : Select the contract(s) and key in payment under “Payment by Trust (MYR)”
- Step 4 : Verify payment and click “OK” to proceed
- Upon submission, system will return a reference number as confirmation.
Can I use my sales proceed/Contra gain to set-off my outstanding purchases?
You can do so if your sales proceeds or contra gain due are credited into your trust account. Note that by default the system will auto-credit all sales proceeds and contra gain due into your trust account. Otherwise, you may contact your DR to set-off your positions.
Can I request to contra my outstanding purchase contract positions?
Yes, you can if your sales contract is the same stock and within the FDSS period that is up to T+2. Otherwise, for outstanding purchases after T+2, 2:00p.m. the system shall perform auto force selling. Please contact your DR on settlement related matters.