PM Anwar said, during this initiative announcement last month, that the move to increase in market liquidity will attract more domestic and foreign funds into the Malaysian stock market.
"I am confident that this step will stimulate the market and enhance its attractiveness," he said at the launch of a flagship capital market initiative last month.
So, what does this change mean to you as an investor?
Effective from 13 July 2023, the stamp duty on contract notes for the trading of stocks on Bursa Malaysia will be reduced from MYR1.50 (0.15%) to MYR1.00 (0.10%) for every MYR1,000 contract value.
This means every MYR 1,000 contract value or part thereof, the stamp duty will be at MYR1.00, with a maximum cap of MYR 1,000.
*** Stamp Duty for Bursa shares is depended on stock type as below:
Compared to our neighboring countries, the reduced rate should put Bursa Malaysia back to be a more competitive and friendlier market for foreign investors. Look at the table below:
Happy Trading ☺☺☺
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