Amanah Saham Nasional Berhad
(ASNB), a wholly owned company of Permodalan Nasional Berhad (PNB),
has signed up for Maybank's eDividend System for its dividend
issuance activities. The eDividend system is one of the on-line
modules of Maybank2e.net, Maybank's web-based cash management
portal for its enterprise customers. The eDividend system will
streamline the processing of ASNB's dividend issuance and automate
the handling process, such as dividend and tax calculations, processing
and various modes of dividend payment to shareholders.
An agreement signing ceremony was held between Maybank and ASNB
at Menara Maybank for the implementation of the eDividend solution.
Encik Paisol bin Ahmad, Executive Director of Amanah Saham Nasional
Berhad (ASNB) and Pn Siti Ramelah bte Yahaya, Senior Vice President
II, Finance & Investment Processing Division of PNB signed
on behalf of ASNB. Maybank was represented by Encik Muhamad Umar
Swift, Executive Vice President and Head of Enterprise Financial
Services Group and Mr Surinder Singh Shingara Singh, Vice President
and Head of Cash Management, EFS Group. Witnessing the signing
was Tan Sri Dato’ Hamad Kama Piah Bin Che Othman, President
& Group Chief Executive of PNB and Dato' Mohammed Hussein,
Deputy President of Maybank.
“The issuance of income
distribution electronically by Maybank is a great effort that
is expected to improve the overall competency and efficiency of
ASNB’s services to its unit holders. As a unit trust management
company, ASNB, which manages funds worth over RM45 billion and
has over 8 million account holders, continues to explore and identify
the best ways to ensure that its unit holders receive excellent
services,” said Tan Sri Dato’ Hamad Kama Piah Bin
Che Othman, President & Group Chief Executive of PNB at the
signing ceremony.
With the current technological
advancement, business operations carried out electronically have
become a necessity for consumers. The e-dividend system, which
is being jointly developed by PNB and Maybank, is the first step
towards achieving this online global trend.
“This effort is seen to be the most efficient and convenient
way to ensure that the payment of income distribution through
cheque or direct credit into the accounts of ASNB’s account
holders is done promptly and safely. The direct monitoring of
the unit holders’ data by ASNB and Maybank is also expected
to assist ASNB in identifying if the unit holders have received
their income distribution and in getting prompt response from
them,” Tan Sri Hamad added.
Dato' Mohammed Hussein, in his
address said, “With eDividend, ASNB will be able to automate
many of their time consuming manual processing of dividend issuance
to their account holders. ASNB will immediately implement eDividend
for its Amanah Saham Wawasan 2020 unit holders, where the first
stage will involve the printing of cheques and warrants. eDividend
also offers the option to pay dividend directly into an account
holder's bank account and upon full implementation, by ASNB, the
account holders will enjoy this auto-debit convenience when receiving
their dividends. In the long run, there is the shared benefit
of a common database to provide the auto-debit convenience to
customers."
“eDividend offers straight
through processing, providing cost and time saving benefits, as
well as increase in staff productivity as it requires less manpower
to prepare dividend payments. It is also able to generate a series
of comprehensive reports that offers better monitoring and control
of the dividend issuances. As a web-based solution via Maybank2e.net
platform, eDividend also allows convenient access 24 hours a day,
7 days a week anytime and anywhere," Dato' Mohammed Hussein
said, adding that eDividend can cater to both registrars and corporations.
ASNB is the first corporation
to adopt the eDividend system while two registrars, Maybank Registrar
and Signet Share Registration Services Sdn Berhad, have already
used it for their dividend payment operations.
"eDividend is resilient
and a proven solution to handle large volumes as well as meet
the needs of our customers. It is about delivering cost efficiency,
greater convenience to account holders and improving productivity
to enable the organisation to focus on other customer-related
business issues to increase their profitability. ASNB's adoption
of eDividend is a testimony to Maybank's commitment to providing
innovative financial solutions and services to our customers,"
added Dato Mohammed Hussein.
