Tricor Malaysia, the leading provider of share registration services in the country, has launched a digital platform for the subscription of and payment for rights issues. As a Share Registrar who carries out the distribution and collection of corporate exercise application forms, Tricor Malaysia operates TIIH Online to digitalize the management of submission of documents and payment of subscriptions to share entitlements.
The new electronic rights issues subscription service was launched and successfully used by one of Tricor’s clients to complete their recent rights issue exercise in September 2019. TIIH Online which became operational in 2017 is a proprietary application designed to help meet corporations’ investor services needs through digitization and in support of the government’s vision envisaged in the Fourth Industrial Revolution.
Besides the recent addition of the electronic rights issue subscription service, TIIH Online also electronically facilitates services such as participation in dividend reinvestment plans, application for Initial Public Offerings (IPO), lodgement of proxy forms for general meetings as well as exercising for conversion rights of non-equity securities such as warrants and irredeemable convertible unsecured loan stocks. Public listed companies who engage TIIH Online can also offer its shareholders the chance to remotely participate in general meetings in adherence with the Malaysian Code of Corporate Governance (MCCG).
TIIH Online is essentially a one-stop digital platform for participation of corporate exercise online and submissions of all time critical public-listed company documents such as rights subscription forms (RSF), dividend reinvestment forms, proxy forms and remote participation forms. Approximately 10,000 users are currently registered on the TIIH Online platform. To date, 60 Tricor’s clients have already used the digital platform.
Tricor Group CEO Lennard Yong said the company’s latest innovation, the electronic rights subscription service, is a pioneering move in Malaysia which enhances client experience and improves efficiencies by phasing the traditional methods of submitting hard copies of rights subscription forms and cheques.
“Our electronic rights subscription service is a game changer for the industry as it offers tremendous cost and time savings. Shareholders will benefit from instant updates via email from anywhere in the world which means they won’t lose investment opportunities through late or non-receipt of RSF through mail, instant acknowledgment and delivery as well as secure payment gateway allowing shareholders the flexibility to use their own internet banking facility to execute all payments,” Tricor Malaysia CEO and Managing Director Yeap Kok Leong said.
Tricor Malaysia Executive Director - Head of Investor Services Saw Wai Chuan said the TIIH Online platform was designed and built by our in-house team which is deeply knowledgeable about Malaysia’s share registration industry, practices and regulators’ stringent requirements. She added, TIIH Online is also regularly subjected to external security audits to ensure security and functionality 24/7 to assure shareholders of a seamless, safe and convenient conduit designed for their convenience.
About Tricor Malaysia
Tricor Malaysia was established in 2006 through the acquisition of the client accounting, payroll outsourcing, company secretarial and share registration businesses of Total Corporate Compliance Sdn. Bhd. (TCC Group) and Tenaga Koperat Sdn. Bhd. (TK). It expanded in 2007 through the acquisition of the PFA Group, formerly a service arm of Deloitte Touche Tohmatsu in Malaysia. In 2014, Tricor Malaysia acquired an issuing house business from Equniti Services Sdn Bhd (now known as Tricor Investor & Issuing House Services Sdn Bhd). Its predecessor companies had been operating for over 30 years in Malaysia. Headquartered in Kuala Lumpur, Tricor Malaysia currently has branch offices in Ipoh, Johor Bahru, Labuan, Melaka, Penang and Seremban. It also has two representative offices in Kota Kinabalu and Kuching.
About Tricor Group
Tricor Group (Tricor) is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, and corporate trust & debt services. Tricor provides the building blocks for, and catalyzes every stage of clients’ business growth, from incorporation to IPO. Tricor has had a rapid expansion through organic growth and development as well as partnerships, mergers and acquisitions. The Group today has over 50,000 clients globally, a staff strength of over 2,600 and a network of offices in 47 cities across 21 countries / territories. Our client portfolio includes over 1,500 companies listed in Hong Kong SAR and Mainland China, ~500 companies listed in Singapore and Malaysia, and more than 40% of the Fortune Global 500 companies, as well as a significant share of multinationals and private enterprises operating across international markets. In March 2017, the Permira Funds became the controlling shareholder of the Tricor Group, alongside management.