For online trading accounts,this is the norm,but there are exceptions:

1.you need to deposit cash into trust account to get trading limits,or

2.you must transfer some of your existing shares into the nominee cds account as collaterals ,

3.online trading accounts opened directly with Participating organisations(PO) usually are not serviced by Remisiers,as the Po does not have to share the commission with the Remisiers,they can afford to slash the comm rate but you will not get personalised service as compare to trading through a Remisier.As the PO does not know your credit standing,they will not extend you any credit terms so you are required to place cash upfront or shares in nominee cds as collaterals.



So,you choose the kind of service that meet your need most.

~Trading limits are set by broking firm based on your credit standings,

~Minimum deposit varies from one broking firm to another,

~Shares bought and sold ,in addition to the normal contract notes for each transaction,will be shown in your monthly statement of account from broker,

~money movements will be shown in the monthly statement of account from broker,

~you will also received a statement from Bursa Depositories Sdn bhd for your share movements,monthly if there is transaction and semi-annually if there is no transactions.(If your cds is nominee a/c ,this statement will be sent to your broker's office,not directly to you.)

When a company issues new share ,it can be fully paid in one go or it may be in instalments.For example,a company may decides to issue ordinary shares of RM 1 by way of first call 60 sen now , second call 20sen in six months time and third call of 20 sen at a later date to be determined.

In your question abv,the called up capital would be the 60sen.

But this rarely happen in public listed companies.

This post has been edited by lklatmy: Dec 15 2008, 09:41 PM

Under the new BTS introduced at the beginning of this month,it is now possible to buy 1 share without having to pay prices like RM50 per share.

You can just check the current seller in the odd lot board(not sure though whether you can see this in your online portal)and take one share from the seller.For example ,the seller(odd lot) for Sime now is 7.20 and there is 99 shares queing to sell,you can buy one share and the total amount you'll pay for it is:


share price 7.20
Commission 12.00
Stamp duty 1.00
clearing fee 0.01
..........
total 20.21

The unfortunate seller(assuming he only managed to sell one share at the end of the day)will end up in the negative.


If you do not wish to end up like the seller,my advice is don't q to sell,just check the buyer price and let go if u are satisfied with the price.

YES

That's why one should not q,because you may end up partially done.

Another way to salvage if you are the unfortunate seller/buyer is trade an additional board lot and the commission will be calculated on the aggregate volume.

I think there are pros and cons to the new partially done allowed of the new BTS system,In fact,the problem highlighted by you also applies to the board lot market eventhough the bid and ask quote may be one bid only.For eg,if you q to sell 5000 Hevea and some joker come and buy 100 shares from you at 4.59pm(assuming your price is the TCP price)you will still end up in the negative .


At least under the new BTS system,you need not pay prices like RM50 per share to get the one share required.


If u let someone else be the hero and put up his odd lot quote,you will be able to avoid the pitfall.

Unless and until the odd lot market becomes more liquid,(more buyers and sellers),this problem mentioned will persist.

T3 is the third business day after the day of the trade,so if you buy/sell on Monday,your T3 will be Thursday.

If there's a holiday in between,it is not counted because it is not a business day.

Different broking firm have different practice,Some broking firms do not allow using contra gain until payment date.I suggest you check with your broking firm direct.

Yes,

less than 100 units-------odd lot,

100 units------------------board lot.

I think you have to claim in the same basis year,example dividends received in basis year 2008 must be claimed in your basis year 2008 returns,you can't claim in 2009 or later basis years.

Go to the broker's office,show your IC and ask them to give you a printout.It will cost you RM1 per page.

Than you will have to go to the respective Broker's office.

All brokers practise first in first out (unless you make special request).

So,your sales on T3 will be offset against your purchases on T1.The detailed calculation I leave it to you .

The request have to be made on the day of the sale.please take note that some broker may not allow you to choose the purchase contract for off setting.

To add,the Nominee company(not the company you invested in)will issue you with a "subsidiary tax voucher"as proof that you are the beneficiary of the dividend.

Please let me add on to this.

Most brokers will use FIFO,so in the absence of any instruction from you,the 90 lots bought on the first day together with 10 lots from the second day will be contra off against the selling.

However,you can actually request the Remisier to submit a form to the broker instructing them to treat the buying and selling of 100 lots on the second day as an intra day trade.

The process is NOT automatic,you have to make a request.

Lets get the facts right first,

1.Who keyed in the two selling orders?

2.What's the cutoff time for the forced selling ?12.30pm or 4.30pm ?

My view as a Remisier is:

1.Since cut off time is 12.30,you should have cancelled the selling order before the afternoon session starts,or you could have stipulate the order as valid for half day only.

2.It is unlikely that the Remisier queue to sell a forced selling order.Normal industry practice is the company dealer handling the forced selling just throw to the buyer price.If you actually saw two orders (one matched and one queuing) at around 2.31pm(I presumed),that means your Remisier had keyed in one order and since not matched yet,he should have cancel the order when you called.

3.KNM at 0.265 yesterday?

Is this a real situation or just a hypothetical example?I am not sure of the actual facts so I can only give you general answers based on industry practice.

Forced selling time varies from one broker to another.If it was made known to you,you have to adhere to it.

You should cancel the selling order in the afternoon session since the forced selling by client is 12.30 pm.

You Remisier should have cancel his forced selling order when you called him to let him know that your own selling order already matched.


When you discovered the error,you could have talked to your Remisier yesterday to take remedial action,which means covering back the oversold quantity from he open market.in which case,the loss is only the price differential and the incidental charges of brokerage,clearing fee and commission.Today too late liao.

Try negotiating with him on the basis that he should cancel the second selling order when you called.Maybe sharing the loss is fair.