QUOTE(v1n0d @ Dec 13 2017, 03:12 PM)
I have an existing brokerage account with CIMB that I use to trade local stocks. Tried to buy S-REITs a while back, but faced issues with poor exchange rate.
Based on some of the comments here, I'll probably sign up for FSM as a poorfag like me can only afford to buy approximately 1000 units max at a time. Question - do the dividends get converted and credited into a linked local bank account like how local stocks work? And do we need to declare the dividend earned?
Different broker different rules. For those nominee account, usually Dividends will be credited into your nominee account. You will only get it back in real cash if you decide to withdraw.
QUOTE(Vector88 @ Dec 13 2017, 03:25 PM)
I calculated before, the dividend handling fees is about 2% of my total dividend received per year. I can live with that for the time being without the hassle to go down to SG ...
Another aspect as I mentioned before, what if you kick the bucket one day ? imagine ur family members need to go through the hassle to settle the account matters in SG.
2% is bloody high. Close to UT management fees already.
Best ask
elea88 on what happen if kick the bucket. How to get money out.
QUOTE(AVFAN @ Dec 13 2017, 04:03 PM)
it is 1.8% for me. ok with that!
paying that vs the hassle saved with opening accounts, rights issues, traveling and time... one can decide.
Er you know right, we don't even need to travel down to SG?
Open a Maybank SG account from Malaysia (use post)
Open a FSM SG brokerage via online or Maybank KE prefunded via post.
All rights issue settle by the broker if you are nominee account. All you need to do is put in money and inform your broker you want to participate in rights issue.
Travelling down is if you want a CDP account + get best bang for buck for your RM. Otherwise semua boleh settle in Malaysia.
This post has been edited by Ramjade: Dec 13 2017, 05:32 PM