Hi All Financial Sifus,

Is it common pratice that if v buy a foreign stock, i.e. Singapore or Hongkong counter, the shares are usually parked under the Malaysia's broker nominees account at respective foreign broker? If so, will v be entitled to anything corporate action or dividend?

BTW, which brokers offers the best rate in Malaysia? Does anyone know Aseambanker's rates on foreign counter?

Thanks in advance.

Is anybody having experience to trade overseas share? US, HK or UK.
Any local securities firm provide real time quote for the above market?
Thanks in advance...

I think Hong Leong Bank do provide trading in Singapore and HK shares Live online...

Hi,

You should get all your entitlements even though the foreign shares are parked in nominees account. Different brokers charge different rates, usually there are other charges to consider as well like custodian and collection fees.

If you want to get more info on trading in foreign shares, you are welcome to contact me at 012-6082922.

Cheers

This post has been edited by cmfok: Nov 29 2008, 11:17 AM

Beside Hong Leong, any others firm provide foreign share trade service?

Trading in foreign shares. Can any one tell me the tax implications? eg Dividends- what happens to the withholding tax? Also what about capital gains. US has a capital gains policy. Will my gains be subject to it? How to calculate?

If you are holding Malaysia citizenship and you are NOT a permanent resident of US (or working as temporary worker in US or reside more than 180 days in US), if you have profits of the US stocks, you are NOT subject to capital gains. However, if the stocks that you owned have dividends and if you collect cash from US companies, those are subject to 30% tax by US govt.

Also, I think Malaysia will also tax you when you bring home your profits become those are considered income and is subject to income tax. (ahem..there are ways to do this under the radar.. but that's out of topic for now. )

This post has been edited by danmooncake: Feb 4 2009, 08:42 AM

I opened a trading account in Singapore with Phillip Capital.
Can trade US, Spore, HK, Tokyo pun boleh.

Live quite some more. I don't know if there are any brokers in Msia that provides live quotes for foreign stock exchange.

Foreign source income should not attract Malaysia tax.

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Added on February 5, 2009, 1:07 pmIn Singapore almost every brokerage have that facility.
But the price real time (NYSE & NASDAQ)? Most are delayed 15 minutes or so. If so, I should activate my account back

This post has been edited by htt: Feb 5 2009, 01:08 PM

I am not clear on this either.. I think if you bring in a large sum of money (eg. >1million).. I'm sure
it will attract the Inland Revenue dept because banks maybe required to report those types of transaction due
to anti-money laundering laws.

I think so long if you can prove the income is legal & not taxable, there shouldn't be much problem.

Trust that LHDN will want a piece of that money that you are bring in.
They'll find a way or excuse the tax the crap out of you. X^D

Haha... common folks like us always have that kind of perception, I really don't know how we came to this? They suppose to be an ethical organization working for government
But their reputation only slightly better than loan shark to me

Currently foreign income irrespective of the amount is tax exempted someore you will have documentation that the money is from sales of shares/dividen from your stock broker. I am more worried from the overseas side eg Australia, UK/ Hong Kong. Since you have already commented the US view , it should be ok to invest in US shares. 30 % Ouch.

Yeah, the tax on dividend is high but sale of shares is ok.. no tax.
For some reason US govt consider dividend as income, not as capital gain.
Some US stocks are dirt cheap now..I'm buying 'em for long term investments.

iamyuanwu, FRE, FNM and XTXI in ur radar, they are good stock, my target price to buy fre/fnm < 0.50 and XTXI < 3.00.


NG can buy when it below USD 1.50

This post has been edited by alivecmh: Feb 7 2009, 01:23 PM

CIMB

Both FRE and FNM won't be long before they test below 0.50..
But, I won't touch them with a 10m pole. Financial stocks.. are too yucky right now.

But..commodities (Oil, Steel, Copper).. wow.. look those prices.. time to grab some, and
some of the companies that do business with China, when economy recovers..
that's going to big fat cheque!

This post has been edited by danmooncake: Feb 8 2009, 02:26 AM

Do one have to open a new account or continue to use the existing account to trade ?

What existing account are you talking about?

Rephrase your question and ask again. Wasn't sure which post or thread you are refering to.