MALAYSIA will attract more applicants for its digital bank licences than Singapore or Hong Kong, experts believe, mainly because of its relatively lower capital requirement. “We think there could be between 30 and 50 applicants. Not all of them may have the same level of commitment, though,” Shankar Kanabiran, a financial services advisory partner at EY Malaysia, tells The Edge.
Bank Negara Malaysia, which released its licensing framework for digital banks on Dec 31 last year after a six-month public consultation, plans to award up to five such licences. The central bank set a June 30 deadline for those interested to apply to do Islamic or conventional digital banking business, and will announce the winners by the first quarter of 2022.
CN Asia Corp Bhd continued its steep decline in this morning's trade, making it the second biggest loser on Bursa Malaysia as at the time of writing today, after its digital banking plans failed to excite investors.
The FBM KLCI managed to end the week in the positive zone after it started the first trading week on a bearish note on Monday. It gained 0.37% to close at 1,633.19 points as the three glove stocks, particularly Supermax Corp Bhd, recovered from the selldown that was partly driven by regulated short selling (RSS) on Monday.
(From left) Intcys Sdn Bhd director Wan Nurliyana Abdul Rahman, Pengerang member of Parliament and MyWEW advisor Datuk Sri Azalina Othman Said and CNAsia Corp Bhd executive director Chang Chee Ching at a memorandum of understanding signing ceremony between Intcys Sdn Bhd and CNAsia Corp Bhd, which will see the latter venturing into digital banking for women.
KUALA LUMPUR: Investment holding company, CNAsia Corp Bhd, has inked a memorandum of understanding (MoU) with Intcys Sdn Bhd, a social enterprise, in its bid to apply for a digital banking licence from Bank Negara.
CNAsia executive director Chang Chee Ching said the company would invest RM400mil to establish the digital banking platform, the MyWEW (Women Empowering Women) Digital Bank, to provide micro-credit facilities primarily for women.
KUALA LUMPUR (Jan 7): Based on corporate announcement and news flow today, the following stocks are likely to be in focus tomorrow (Friday, Jan 8): BSL Corp Bhd, Tomei Consolidated Bhd, Bintai Kinden Corp Bhd, Apex Equity Holdings Bhd, UMW Holdings Bhd, CN Asia Corp Bhd, Time dotCom Bhd and KESM Industries Bhd
Bursa Malaysia has issued an unusual market activity (UMA) query to
BSL Corp Bhd due to the sharp rise in the group’s share price and trading volume. The share price surged as much as 30 sen or 69.8% to 73 sen before retreating to close at 63.5 sen, still up 20.5 sen or 47.7% from yesterday. The counter saw 7.86 million shares traded today, sharply higher than an average of 117,700 shares per day over the past 200 days