How to buy SG shares from Malaysia - Dividend Machines by The Fifth Person

Q&A › Category: Miscellaneous › How to buy SG shares from Malaysia

Tse-Juie Yap asked 2 years ago

Hi, not sure whether this has been shared previously, was not able to find it in the Q&A. I am based in Malaysia and would like to purchase SG shares. Could you please tell me where I can get more info on how to open an SG share trading account as well as how it handles dividend payments for overseas based shareholders. Thank you.

3 Answers

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Rusmin Ang Staff answered 2 years ago

Hi TJ, You can try opening with FSMOne Malaysia. Try reaching out to them and they should be able to help you...

Tse-Juie Yap replied 2 years ago

Thanks. I should have added that I do have a SG bank account but have not been using it actively. I will do some more research on what options are available for me. Thanks for the recommendation.

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Danny Tam answered 2 years ago

Hi TJ,
I'm based in Malaysia also, and I thought I'd share my experience investing in overseas stock markets.
Personally, I have been using CGS International (formerly CGS-CIMB) and have been happy with their service so far.
Some of the other larger brokers that offer international share trading include:

Maybank
RHB
Kenanga

FSMOne, as suggested by Rusmin, is also a popular choice, and their fees are among the lowest too.
Generally, when you open your account, you have to let them know that you wish to trade international stocks and would also like to have a multi-currency trust account set up with the broker.
For example, if you wish to trade Singapore shares, they will likely open an S$ trust account for you. You can deposit S$ in the trust account before you begin trading, or alternatively, you can deposit MYR, which the broker will then convert into S$ to pay for S$ trades.
Any dividends in S$ will also be deposited into the S$ trust account.

Rusmin Ang Staff replied 2 years ago

Awesome, Danny. Thanks for sharing your experience with us!

Tse-Juie Yap replied 2 years ago

Thanks very much for sharing Danny. Just a question on the trust account, do you know whether we can transfer out from that S$ trust account to a S$ account in SG? Or is withdrawal only to MY accounts?

Danny Tam replied 2 years ago

Hi TJ,
I just checked with my client representative at CGSI.
He’s confirmed that it’s possible to transfer the S$ fund in the trust account to my bank account in Singapore.
There’s a fee of 200RM per transfer.

The above applies to CGSI but I’m quite sure the other brokers will allow their clients to do the same, for a small fee of course.

Hope that helps.

Tse-Juie Yap replied 2 years ago

Thanks so much for checking Danny. Greatly appreciated!

Danny Tam replied 2 years ago

No worries. Always happy to be of assistance.

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zunyang answered 2 years ago

Hi TJ, I'm sharing another alternative to buy SG stocks from Malaysia. I am using POEMS from Phillip Securities which is based in SG. You can fund your account by transferring to POEMS Maybank Malaysia trust account. They will help to transfer the fund to your stock account in SG. The fund will appear as MYR in your account, and then you can convert to SG anytime you want. As for the dividend, it will be kept in your stock trust account in S$. I believe transferring from SG based POEMS to your SG bank account will cost a minimum fee.