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Foreign Currency Listing Securities on Bursa Malaysia
Foreign currency securities listing on Bursa Malaysia are considered foreign currency assets and, therefore, shall fall within the purview of Bank Negara Malaysia's Foreign Exchange Administration policy and all rules pertaining to investment in foreign currency assets are applicable.
Under BNM's FEA policy, clients are required to declare, among others,:
  • their residency status;
  • if they have domestic ringgit borrowing;
  • their agreement to be bound by the provision of the Exchange Control Act 1953 and BNM FEA policy and any amendment from time to time;
  • in the event of any changes to their domestic ringgit borrowing status, it is their responsibility to notify Company in writing and update the Declaration.
Definition of Residence and Domestic Borrowings are as follows:
  1. Residents are defined as:
    • Citizens of Malaysia (excluding persons who have obtained permanent resident status of a territory outside Malaysia and are residing abroad);
    • Non-citizens who have obtained permanent resident status in Malaysia and are residing permanently in Malaysia; or
    • Persons, whether body corporate or unincorporated, registered or approved by any authority in Malaysia.

  2. Domestic ringgit borrowings refer to any ringgit advances, loans, trade financing facilities, hire purchase, factoring facilities with recourse, financial leasing facilities, guarantee for payment of goods, redeemable preference shares or similar facilities in whatever name or form, except:
    • Trade credit terms extended by suppliers for all types of goods and services;
    • Forward foreign exchange contracts entered into with licensed onshore banks;
    • Performance guarantees and financial guarantees;
    • One personal housing loan and one vehicle loan obtained from Residents;
    • Credit card and charge card facilities;
    • Operational leasing facilities;
    • Factoring facilities without recourse; and
    • Inter-company borrowings within a corporate group in Malaysia.

 
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