KUALA LUMPUR: Bursa Malaysia Bhd has introduced a new feature called electronic General Offer (eGO) to its Bursa Anywhere mobile application (app).

       In a statement today, the exchange said eGO is aimed at providing convenience to investors by fast-tracking their general offer applications.

       Previously, investors were required to submit a transfer form to their brokers in order to transfer the securities and followed by the submission of an offer document for the acceptance of the offer.

       "Now all applications and submission of documents can be performed via eGo.

       "The shareholders no longer need to physically go to their brokers, or deal with the traditional method of delivering the physical transfer form to the broker for transfer execution, and share registrar for submission of the offer document,” it said.

       Bursa chief executive officer Datuk Muhamad Umar Swift said the new feature is timely as the COVID-19 outbreak had prompted most investors to switch to electronic investing options for improved security and convenience.

       "It also offers investors tremendous cost and time savings by providing secure access to investment opportunities and services anytime anywhere, in line with the evolving demands of modern investors,” he said.

       Bursa Anywhere was developed to provide investors ease of accessibility in managing their central depository system (CDS) accounts remotely.

       The eGO feature complements the mobile app’s existing extensive services, such as facilitating CDS account openings, rights issue subscriptions, as well as reactivation of dormant and inactive CDS accounts.

       The app has garnered over 210,000 downloads since its release in June 2019. - Bernama