Dear i*Trade@CIMB Valued Customers,
We are pleased to inform you that with effect from 05th June 2017, we will implement auto set-off for the following items as shown in Tables A & B below from total sales proceeds due to you via the following payment modes which you have opted earlier:-
1. E-Payment (Direct credit into your designated bank account), or
2. Physical Sales Cheque, or
3. Auto Trust Facility
Table A
|
E-Payment and Sales Cheque
|
|
Priority
|
Outstanding Items
|
Offsetting Parameter
|
|
1
|
Principal contra losses
|
≥ T+1
|
|
2
|
Interest on contra losses
|
≥ T+1
|
|
3
|
Debit billing
|
≥ T+1
|
|
4
|
Sales contract with debit balance
|
≥ T+1
|
|
5
|
Purchase contract T+5 onwards
|
≥ T+5
|
|
6
|
Interest on purchase contract T+5 onwards
|
≥ T+5
|
Table B
|
Auto Trust
|
|
Priority
|
Outstanding Items
|
Offsetting Parameter
|
|
1
|
Purchase contract on due date onwards
|
≥ T+3
(≥ T+2 for HK)
|
|
2
|
Principal contra losses
|
≥ T+1
|
|
3
|
Interest on contra losses
|
≥ T+1
|
|
4
|
Debit outstanding billing
|
≥ T+1
|
|
5
|
Sales contract with debit balance
|
≥ T+1
|
With the above process, you will no longer be required to provide instructions to your Dealer’s Representative to set-off the items stated in Table A & B.
This process is applicable for Bursa and Foreign Securities settlement in MYR only.
The benefits of opting the E-Payment or Auto Trust Facility are as follows:-
· Faster crediting of sales proceeds into your Trust Account or designated Bank Account
· Eliminate charges imposed on cheque issuance
Thus, we strongly encourage you to sign up for E-Payment or Auto Trust Facility if you have not done so.
Kindly contact your Dealer’s Representative or Authorised Officer of CIMB Bank Berhad if you have further enquiries or to sign up for the E-Payment or Auto Trust Facility.
Thank you.
Yours sincerely,
CIMB Investment Bank Berhad (18417-M)
(A Participating Organisation of Bursa Malaysia Securities Berhad)
