FAQs
At UP, we make investing simple and stress-free. Our app lets you grow your portfolio easily, so you can focus on what you love most.
UP is an investment platform operated by CGS International Securities Malaysia Sdn. Bhd.
(formerly known as CGS-CIMB Securities Sdn Bhd). Simple and intuitive, UP aims to break down
the investing experience into bite-sized portions for new and seasoned investors alike. Access
equities trading on the Bursa Malaysia with more markets and features to come.
UP is an investment platform operated by CGS International Securities Malaysia Sdn. Bhd.
(formerly known as CGS-CIMB Securities Sdn Bhd), a Participating Organisation of Bursa
Malaysia Securities Sdn Bhd.
The approval time is subject to the completeness and accuracy of the provided documents and
information. After signing up on the app, your account will be validated and approved in
approximately 1 working day, provided that all required documentation is submitted without any
issues.
You will receive an email from hello-investup.my@cgsi.com once your account is opened.
You will receive an email from hello-investup.my@cgsi.com once your account is opened.
Each person is entitled to one UP trading account.
You'll need to make a deposit into your UP account before you start trading, so go ahead and
make your first deposit when you're ready.
You can drop us a request via the inquiry form in your UP account, and we will attend to your
query within 5 working days.
Follow the below steps to submit your inquiry:
1. Tap on "Account"
2. Tap "Contact Us"
3. Select a Topic: "Account Related"
4. Type in your inquiry under "Message"
5. Upload an Attachment (Optional)
6. Tap on "Send Message" to submit.
Follow the below steps to submit your inquiry:
1. Tap on "Account"
2. Tap "Contact Us"
3. Select a Topic: "Account Related"
4. Type in your inquiry under "Message"
5. Upload an Attachment (Optional)
6. Tap on "Send Message" to submit.
UP is an investment platform operated by CGS International Securities Malaysia Sdn. Bhd.,
holder of a capital market services licence by the Securities Commission Malaysia (SC),
Capital Markets Services Licence No.: eCMSL/A0012/2007.
Under the Capital Markets and Services (Amendment) Act 2012, Capital Market Compensation Fund Corporation (CMC) was established. CMC follows international benchmarks on investor compensation and to ensure that there is a consolidation of the various existing compensation schemes for investors' ease of reference. The establishment of the CMC also complements the work of the Securities Industry Dispute Resolution Center (SIDREC), an alternative dispute resolution (ADR) body approved by the Securities Commission Malaysia, where the CMC Fund may be utilised subject to the Rules of the CMC and the terms of reference of SIDREC.
The establishment of the CMC ensures transparency in the investor compensation regime and greater oversight by the Securities Commission Malaysia, as the capital market regulator.
If a relevant holder of a Capital Market Services Licence (CMSL) is insolvent, as an individual investor, you can make a claim to the CMC and may be compensated up to a maximum amount of RM100,000.
Under the Capital Markets and Services (Amendment) Act 2012, Capital Market Compensation Fund Corporation (CMC) was established. CMC follows international benchmarks on investor compensation and to ensure that there is a consolidation of the various existing compensation schemes for investors' ease of reference. The establishment of the CMC also complements the work of the Securities Industry Dispute Resolution Center (SIDREC), an alternative dispute resolution (ADR) body approved by the Securities Commission Malaysia, where the CMC Fund may be utilised subject to the Rules of the CMC and the terms of reference of SIDREC.
The establishment of the CMC ensures transparency in the investor compensation regime and greater oversight by the Securities Commission Malaysia, as the capital market regulator.
If a relevant holder of a Capital Market Services Licence (CMSL) is insolvent, as an individual investor, you can make a claim to the CMC and may be compensated up to a maximum amount of RM100,000.
Multi-Factor Authentication (MFA) is an extra layer of security that requires you to provide
two or more verification factors to gain access to your UP account.
To protect your account, you'll be required to go through a multi-factor authentication (MFA) process when logging into your UP account.
To protect your account, you'll be required to go through a multi-factor authentication (MFA) process when logging into your UP account.
We require up to 2 working days to complete the necessary account preparations before you can
trade on the BURSA market. We appreciate your patience during this process.
Certainly! You have the option to explore the functionalities of our app without any
obligations by creating a demo account. Just download the app and select the "Demo Account"
option to begin your trial experience with us.
However, do note that the demo account has limited features, so we encourage you to unlock the full experience by opening an account with us.
However, do note that the demo account has limited features, so we encourage you to unlock the full experience by opening an account with us.
Account statements can be downloaded from your UP account. To request an account statement,
follow these steps:
1. Tap on "Account"
2. Tap on "Reports/Statements"
3. Select Account Statement under "Report Type"
4. Tap "Run Report"
1. Tap on "Account"
2. Tap on "Reports/Statements"
3. Select Account Statement under "Report Type"
4. Tap "Run Report"
We are committed to Environmental, Social, and Governance (ESG) principles as part of our
dedication to sustainability and responsible business practices. To align with these values,
we have opted not to provide paper statements.
Our recommended approach for providing assistance is through the Contact Us form within your
UP trading app. Nevertheless, you can also contact us via email at
investup.my@cgsi.com
.
If you are not receiving emails from us, please check your spam folder. If you find our emails
there, mark them as "Not Spam" and ensure you whitelist our three email addresses:
investup.my@cgsi.com,
hello-investup.my@cgsi.com, and
noreply-investup.my@cgsi.com.
The emails listed are for reference and may not be exhaustive. Whitelisting helps prevent future emails from being marked as spam, ensuring you receive important communications from us in your inbox.
investup.my@cgsi.com,
hello-investup.my@cgsi.com, and
noreply-investup.my@cgsi.com.
The emails listed are for reference and may not be exhaustive. Whitelisting helps prevent future emails from being marked as spam, ensuring you receive important communications from us in your inbox.
No, the OTP can only be received on the phone number registered with your account.
Yes, you can open an account if you are unemployed or university student, as long as you are
18 years old or above.
Additionally, individuals with a past delinquency record, a history of non-financial crimes, or those who are discharged bankrupt may also be eligible, provided all other approval requirements are satisfied.
Additionally, individuals with a past delinquency record, a history of non-financial crimes, or those who are discharged bankrupt may also be eligible, provided all other approval requirements are satisfied.
If you encounter a technical issue, try logging out and back in, restarting the app and
checking your internet connection.
If the problem persists, contact customer support through "Contact Us" section within the app or email at investup.my@cgsi.com
If the problem persists, contact customer support through "Contact Us" section within the app or email at investup.my@cgsi.com
We have a variety of methods for you to fund your account.
1. DuitNow
2. FPX
We are unable to accept fund deposits via e-wallets such as TnG, GrabPay, and any other 3rd party applications, as deposits must be made from a bank account in your name.
1. DuitNow
2. FPX
We are unable to accept fund deposits via e-wallets such as TnG, GrabPay, and any other 3rd party applications, as deposits must be made from a bank account in your name.
We currently only support Malaysian Ringgit (RM).
Yes, there is a minimum deposit of RM50 required in your UP account in order to begin trading
with us.
We do not accept fund transfers from third-party fund sources, such as remittance service
providers.
If we cannot verify your transaction, we will have to decline the fund deposit. Please be
aware that we do not accept funding from third parties or third-party applications.
It may take up to 7 days for the rejected funds to be returned to your original bank account. Do note that any bank charges incurred will be borne by you.
It may take up to 7 days for the rejected funds to be returned to your original bank account. Do note that any bank charges incurred will be borne by you.
It is easy to make a withdrawal. You just have to add your bank account to your UP app by
submitting the necessary information so that we can credit your funds to the right place.
The amount received may be less than the amount originally remitted, as the remitting bank or agent bank may impose remittance charges. Your receiving bank may also impose charges.
The amount received may be less than the amount originally remitted, as the remitting bank or agent bank may impose remittance charges. Your receiving bank may also impose charges.
Certainly, you are able to add your bank account to your UP account. However, please note that
due to regulatory requirements, we can only accept funding from a bank account in your name.
To add your bank account to your UP account, follow these steps:
1. Tap on "Money"
2. Tap "Bank Account Management"
3. Tap "Add New Bank Account"
4. Choose Currency
5. Fill in the details accordingly and upload a copy of your bank statement.
Note:
- You can only add one bank account for each currency.
- The copy of your bank statement needs to be issued within the last 3 months. Kindly ensure the bank statement contains the Account Holder's Name, Bank Account Number, Bank Logo/Bank Name, and Date of Issurance.
To add your bank account to your UP account, follow these steps:
1. Tap on "Money"
2. Tap "Bank Account Management"
3. Tap "Add New Bank Account"
4. Choose Currency
5. Fill in the details accordingly and upload a copy of your bank statement.
Note:
- You can only add one bank account for each currency.
- The copy of your bank statement needs to be issued within the last 3 months. Kindly ensure the bank statement contains the Account Holder's Name, Bank Account Number, Bank Logo/Bank Name, and Date of Issurance.
Currently, we are unable to facilitate the transfer of stocks.
Currently, we are unable to facilitate the transfer of stocks.
Withdrawals are only available from Monday to Friday (excluding national public holidays)
between 12AM and 4PM. If you try to withdraw outside of these hours, the function will locked,
and you will not be able to proceed with the withdrawal.
No, withdrawals to third-party bank accounts are not allowed. Funds must be transferred to a
bank account registered under your name with a bank recognized by local authorities, not a
licensed payment company.
If you have not received the rejected funds, please contact your bank or service provider to
check the status. We are able to provide the relevant information about the rejection, but the
processing and return of the funds are facilitated by the banks involved.
The fee schedule is located here.
No, we do not charge any maintenance fees.
No, we do not charge any inactivity fees so that you have the flexibility to trade at your own
pace.
W-8BEN form is required by the United States' Internal Revenue Service (IRS) to document if
the account holder who is the beneficial owner of an amount subject to US withholding is not a
US person. Generally, if you intend to trade in the US market or with entities organised in
the US or under the laws of the US, this form has to be completed.
CGS MY does not and cannot provide tax advice or prepare tax documents for you. If you have any questions on how to determine your tax residence status or complete the tax forms, please consult a professional tax adviser. For more information, you may refer to the US IRS website: here.
CGS MY does not and cannot provide tax advice or prepare tax documents for you. If you have any questions on how to determine your tax residence status or complete the tax forms, please consult a professional tax adviser. For more information, you may refer to the US IRS website: here.
You'll be required to file this form before performing any trade that will result in an amount
subject to US withholding. (We will be rolling out US market soon!)
No, UP does not offer a margin facility. UP is a cash-upfront account where all stocks are
paid in full.
Your purchasing power will be based on the amount of cash available.
Your purchasing power will be based on the amount of cash available.
We currently have 3 types of orders:
1. Order by Limit Price (Limit Order)
2. Order by Quantity (Market Order)
3. Order by Amount (Market Order)
1. Order by Limit Price (Limit Order)
2. Order by Quantity (Market Order)
3. Order by Amount (Market Order)
A market order is an order to buy or sell a stock at the market's current best available
price. A market order typically ensures an execution, but it doesn't guarantee a specified
price. For illiquid stocks, a market order can be filled at a much higher or lower price;
therefore, do assess the risks carefully before placing an order. However, the order by Amount
is only applicable to Buy order.
A limit order is an order that allows you to buy or sell a stock at a specific price or
better. It ensures that if the order is filled, it will not be filled at a price less
favourable than your limit price.
Yes, you can if your order has not been matched or it is still pending Exchange’s
acknowledgement. Slide left on the order under Active Orders screen, then you may cancel or
revise the unfilled order accordingly by clicking the Cancel/Edit button.
Yes, you can if your order has not been matched or it is still pending the Exchange’s
acknowledgement.
Slide left on the order under Active Orders screen, then you may cancel or revise the unfilled order accordingly by clicking the Cancel/Edit button.
Slide left on the order under Active Orders screen, then you may cancel or revise the unfilled order accordingly by clicking the Cancel/Edit button.
The "Bid" is the highest price a buyer is willing to pay for a security, while the "Ask" is
the lowest price a seller is willing to accept.
Full-day Trading (Standard Time, SGT)
Opening Routine Pre-Open:
8:30am - 8.58am/8:59am*
Non-Cancel: 8:58am/8:59am* - 9:00am
Trading
Open: 9:00am - 12:00pm
Mid-Day Break
Pre-Open: 12:00pm - 12:58pm/12:59pm*
Non-Cancel: 12:58pm/12:59pm* - 1:00pm*
Trading
Open: 1:00pm - 5:00pm
Closing Routine
Pre-Close: 5:00pm - 5:04pm/5:05pm*
Non-Cancel: 5:04pm/5:05pm* - 5:06pm
Trade at Close: 5:06pm - 5:16pm
Close: 5:16pm
Half-day Trading (Standard Time, SGT)
Opening Routine
Pre-Open: 8:30am - 8.58am/8:59am*
Non-Cancel: 8:58am/8:59am* - 9:00am
Trading
Open: 9:00am - 12:00pm
Closing Routine
Pre-Close: 12:00pm - 12:04pm/12:05pm*
Non-Cancel: 12:04pm/12:05pm* - 12:06pm
Trade at Close: 12:06pm - 12:16pm
Close: 12:16pm
Please refer to the SGX website for more information
Opening Routine Pre-Open:
8:30am - 8.58am/8:59am*
Non-Cancel: 8:58am/8:59am* - 9:00am
Trading
Open: 9:00am - 12:00pm
Mid-Day Break
Pre-Open: 12:00pm - 12:58pm/12:59pm*
Non-Cancel: 12:58pm/12:59pm* - 1:00pm*
Trading
Open: 1:00pm - 5:00pm
Closing Routine
Pre-Close: 5:00pm - 5:04pm/5:05pm*
Non-Cancel: 5:04pm/5:05pm* - 5:06pm
Trade at Close: 5:06pm - 5:16pm
Close: 5:16pm
Half-day Trading (Standard Time, SGT)
Opening Routine
Pre-Open: 8:30am - 8.58am/8:59am*
Non-Cancel: 8:58am/8:59am* - 9:00am
Trading
Open: 9:00am - 12:00pm
Closing Routine
Pre-Close: 12:00pm - 12:04pm/12:05pm*
Non-Cancel: 12:04pm/12:05pm* - 12:06pm
Trade at Close: 12:06pm - 12:16pm
Close: 12:16pm
Please refer to the SGX website for more information
The Singapore stock market adheres to a T+2 settlement
arrangement. Clearing and settlement will be completed
on the next business day after the trade is
transacted. Business Day means any day on which CGS SG
is open for business in Singapore and the respective
exchanges and counterparties are available to carry
out the settlement.
The standard board lot size is 100 units. However,
this may vary for certain products, such as selected
exchange-traded funds (ETFs). In such cases, you can
trade in other board lot sizes.
A tick size is a minimum bid size. It represents the
smallest price variation possible for a security.
Please refer to the SGX website for more information.
Please refer to the SGX website for more information.
Regular Market:
9:30PM to 4:00AM (Daylight Saving Time, SGT)
10:30PM to 5:00AM (Standard Time, SGT)
9:30PM to 4:00AM (Daylight Saving Time, SGT)
10:30PM to 5:00AM (Standard Time, SGT)
The US stock market adheres to a T+1 settlement
arrangement. Clearing and settlement will be completed
on the next business day after the trade is
transacted.
Business Day means any day on which CGS SG is open for business in Singapore and the respective exchanges and counterparties are available to carry out the settlement.
Business Day means any day on which CGS SG is open for business in Singapore and the respective exchanges and counterparties are available to carry out the settlement.
US stocks do not adopt the concept of a board lot
therefore, there is no trading unit limit. The minimum
trading unit is 1 share.
No, we do not offer pre-and/or after market sessions
at the moment.
No, there are no restrictions on frequency or capital
limits for day trading.
1st Session (Standard Time, MYT)
Pre-Opening: 8:30am
Opening and Continuous Trading: 9:00am
Closing: 12:30pm
Lunch
2nd Session (Standard Time, MYT)
Pre-Opening: 2:00pm
Opening and Continuous Trading: 2:30pm
Pre-Closing: 4:45pm
Closing: 4:50pm
Trading at Last: 4:50pm - 5:00pm
Please refer to the BURSA Malaysia website for more information.
Pre-Opening: 8:30am
Opening and Continuous Trading: 9:00am
Closing: 12:30pm
Lunch
2nd Session (Standard Time, MYT)
Pre-Opening: 2:00pm
Opening and Continuous Trading: 2:30pm
Pre-Closing: 4:45pm
Closing: 4:50pm
Trading at Last: 4:50pm - 5:00pm
Please refer to the BURSA Malaysia website for more information.
The BURSA Malaysia stock market adheres to a T+2 settlement arrangement. Clearing and
settlement will be completed on the second business day after the trade is transacted.
Business Day means any day on which CGS MY is open for business in Malaysia and the respective exchanges and counterparties are available to carry out the settlement.
Business Day means any day on which CGS MY is open for business in Malaysia and the respective exchanges and counterparties are available to carry out the settlement.
The standard board lot size is 100 units. However, this may vary for certain products, such as
selected exchange-traded funds (ETFs). In such cases, you can trade in other board lot sizes.
The tick size is the minimum price variation between the buy and sell price for the market.
Please refer to the BURSA Malaysia website for more information.
Please refer to the BURSA Malaysia website for more information.
A fractional share is the purchasing of less than a whole share of a company. This allows you
to diversify your portfolio with a smaller budget than what is required to purchase whole
shares and obtain exposure to high-growth companies without committing to a whole share.
To access fractional shares trading, simply use the search icon at the top right of the app.
If the share allows fractional trading, you will see an "F" icon. Then, proceed with your
trade order as usual, inputting a quantity/amount lower than the standard board lot.
All corporate actions arising from the holdings in your UP account will be handled according
to the actions stated here,
regardless of the quantity of your holdings.
Currently, only top 30 BURSA stocks. If the stock allows fractional trading, you will see an
"F" icon next to the stock name.
When trading with fractional shares, orders have a minimum quantity of 0.01 or a minimum order
amount of RM10 when opening a position.
To check if a stock supports fractional trading:
Under the stock page, there will be an "F" icon next to the stock name to indicate that is is available for fractional trading.
Under the stock page, there will be an "F" icon next to the stock name to indicate that is is available for fractional trading.
The fee schedule is located here:
https://cgsi.com.my/up/pricing/.
When trading full shares, you need purchase whole units of a stock. With fractional shares
trading, you can buy less than a whole share, allowing you to invest smaller of money and
still own a portion of stocks.
SaveUP is a form of regular savings plan (RSP) that allows you to invest a fixed amount of
funds regularly in the same choice of investments (commonly ETFs, single stocks, etc.).
SaveUP is simple! You just need to indicate the amount you want to invest at regular intervals
(e.g. daily, weekly, monthly), and UP will automatically allocate these funds to the
investments you've selected.
You can also create a goal with multiple SaveUP into different stocks.
You can also create a goal with multiple SaveUP into different stocks.
SaveUP aims to help you accumulate your investments steadily and progressively by facilitating
a dollar-cost averaging (DCA) strategy.
Dollar-cost averaging (DCA) is an investment strategy that invests a fixed amount of money at
regular intervals, regardless of the asset's price.
This approach prioritises stability by spreading your investment over time to counter market volatility. It has the benefit of lowering the average cost per share over the long term, potentially minimising the impact of short-term market fluctuations on your overall investments.
This approach prioritises stability by spreading your investment over time to counter market volatility. It has the benefit of lowering the average cost per share over the long term, potentially minimising the impact of short-term market fluctuations on your overall investments.
You may access SaveUP on your UP app with the following steps:
1. Tap on "Account"
2. Tap "SaveUP"
1. Tap on "Account"
2. Tap "SaveUP"
SaveUP currently only supports BURSA Malaysia.
As SaveUP is a regular savings plan, the fees associated with the service will correspond to
the fee schedule of the market you're subscribed to. For further fee details, please visit
here.
We currently do not offer the option to temporarily pause SaveUP. If you wish to suspend SaveUP, you will have to cancel your current subscription.
We encourage you to make any adjustments well in advance of the scheduled execution time to
avoid disruptions to your SaveUP.
Subscriptions can only be edited more than 30 minutes before the scheduled execution time. This ensures the stability and consistency of your investment plan.
Subscriptions can only be edited more than 30 minutes before the scheduled execution time. This ensures the stability and consistency of your investment plan.
The execution of your SaveUP is meant to take place within 15 minutes after the market opens.
The specific day and frequency of execution are determined by you via the UP app.
While we strive to execute your SaveUP within 15 minutes after the market opens, the exact time of execution will be at our discretion.
While we strive to execute your SaveUP within 15 minutes after the market opens, the exact time of execution will be at our discretion.
Yes, you will receive a push notification 3 days before the execution. Please ensure that you
have sufficient funds in the respective currency account for the SaveUP to proceed. Upon
execution, you will be notified through a push notification.
You can do so by visiting "My Investment" on the "SaveUP" tab.
The selected execution date that falls on a non-trading day will be executed on the next
available trading day.
The system will skip the current investment cycle under the following circumstances:
1. If the stock is not tradable at the point of execution
2. When a circuit breaker is triggered while placing an order
3. If there are trading restrictions implemented on your account
4. You have insufficient funds in the respective currency account to meet the order requirements. This includes the fees associated with the order.
1. If the stock is not tradable at the point of execution
2. When a circuit breaker is triggered while placing an order
3. If there are trading restrictions implemented on your account
4. You have insufficient funds in the respective currency account to meet the order requirements. This includes the fees associated with the order.
If there are corporate actions such as a Stock Split that lead to a reduction in stock price,
your SaveUP will continue as usual, allowing you to purchase larger quantities with the same
investment amount. However, if there are corporate actions like a Reverse Stock Split that
result in an increase in stock price, the SaveUP will proceed, but with the purchase of lower
quantities. If the increased stock price exceeds the SaveUP investment amount, the SaveUP
order will fail.
If you do not have sufficient funds in the respective currency account at the time of
execution, your SaveUP will not be completed. However, the next investment will continue to be
executed as scheduled, subject to the availability of the necessary funds. It is essential to
ensure that your account has sufficient funds in the respective currency account to cover both
the order requirements and the associated fees for a successful execution.
You can start your investment journey as little as RM10.
All corporate actions arising from the holdings in your UP account will be handled according to
the actions stated here, regardless of the quantity of
your holdings.
Dividend payments are subject to the company's announcement. To find out the ex-dividend date
and the payout date, refer to the relevant corporation action document.
How do I receive dividends? Dividends are distributed exclusively in the form of cash
payments. In the case of stock dividends, they will be converted to cash and directly credited
to your account on or after the payout date. This ensures a streamlined and convenient process
for receiving dividends.
Any currency conversion required will be carried out using rates as determined by us. The cash to be paid will be less of the costs incurred for such conversion.
Any currency conversion required will be carried out using rates as determined by us. The cash to be paid will be less of the costs incurred for such conversion.
You will need to submit the sell request and the stock name via "Contact Us" form in the
mobile app.
You will receive a notification once the sale of your odd lots is successful.
i. “Domestic Ringgit Borrowing/financing” means:
(a) any Borrowing/financing in Ringgit obtained by a Resident from another Resident; or
(b) any obligation considered or deemed as Domestic Ringgit Borrowing/financing under any of the FE Notices.
Note: For purposes of determining the Domestic Ringgit Borrowing/financing status of a Resident Entity—
(a) the Resident Entity is deemed to have a Domestic Ringgit Borrowing/financing when another Resident Entity with Parent-Subsidiary Relationship has a Domestic Ringgit Borrowing/financing; and
(b) the following shall not be considered as Domestic Ringgit Borrowing/financing—
(i) a Borrowing/financing obtained from another Resident Entity with Parent-Subsidiary Relationship;
(ii) a Borrowing/financing obtained from its Direct Shareholder; or
(iii) any facility including credit facility or financing facility which is used for Sundry Expenses or Employees’ Expenses only.
− “Sundry Expenses” refers to small and infrequent expenses for office supplies (e.g. stationaries), ancillary services (e.g. software and online subscription) and other minor expenses to facilitate daily business operation.
− “Employees' Expenses” refers to business-related expenses which may include, but not limited to, travel (e.g. lodging and transportation), entertainment, health, insurance, takaful and other employees' expenses, excluding investment.
− “Borrowing/financing” refers to the definition of “Borrowing/finanicng” below.
"Borrowing/financing" means
(a) any utilised or unutilised credit facility or financing facility;
(b) any utilised or unutilised trade financing facility, including but not limited to, trade guarantee or guarantee for payment of goods;
(c) redeemable preference share or Islamic redeemable preference share; or
(d) Corporate Bond or Sukuk.
(ii) a credit limit that a Licensed Onshore Bank (“LOB”) apportions for its client to undertake a Forward Basis transaction, excluding a transaction that involves—
(A) exchanging or swapping of Ringgit or Foreign Currency debt for another Foreign Currency debt; or
(B) exchanging of Foreign Currency debt for a Ringgit debt;
(iii) a Financial Guarantee or Non-Financial Guarantee;
(iv) an operational leasing facility;
(v) a factoring facility without recourse;
(vi) a credit card or charge card facility obtained by an Individual from a Resident and used for payment for retail goods or services only; or
(vii) a credit facility or financing facility obtained by a Resident Individual from a Resident to purchase one (1) residential property and one (1) vehicle.
Note: For clarity purposes, the transactions in paragraphs (ii)(A) and (ii)(B) shall be considered as Borrowing/financing."
ii "Foreign Currency Asset Offshore" means –
(a) a financial asset in Malaysia swapped for a financial asset in a Labuan Entity or outside Malaysia;
(b) Foreign Currency Borrowing/financing given to a Non-Resident;
(c) working capital arising from the set up of any business arrangement outside Malaysia (including a joint venture project where no Entity is created or established);
(d) deposit in a Foreign Currency Account maintained with a Labuan Entity or outside Malaysia excluding reasonable amount of deposit for education, employment or migration outside Malaysia; or
(e) Foreign Currency-denominated—
(i) asset (tangible or intangible) offered by a Non-Resident or any person whose residency cannot be determined;
(ii) asset (tangible or intangible) in or maintained with a Labuan Entity, or outside Malaysia;
(iii) Financial Instrument or Islamic Financial Instrument (excluding Exchange Rate Derivatives) without Firm Commitment offered on a Specified Exchange under the CMSA outside Malaysia undertaken by a Resident through a Resident futures broker; or
(iv) Financial Instrument or Islamic Financial Instrument (excluding Exchange Rate Derivatives) without Firm Commitment issued or offered by a Non-Resident.
iii. “Direct Investment Abroad” means –
(a) an investment in Foreign Currency Asset Offshore by a Resident resulting in at least 10% equity ownership or control of a Non-Resident Entity outside Malaysia or a Labuan Entity;
(b) an inter-company lending by a Resident Entity to a Non- Resident Entity within the Resident Entity’s Group where the Non-Resident Entity is outside Malaysia or a Labuan Entity; or
(c) a capital expenditure by a Resident investor in an unincorporated Entity outside Malaysia or a project outside Malaysia by an agreement with no establishment created, where the Resident investor—
(i) contributes capital of at least 10% of the cost of the project;
(ii) is entitled to at least 10% of profits from the unincorporated Entity or project; or
(iii) has management control of the unincorporated Entity or project.
iv. “Foreign currency asset onshore” means
(a) Foreign Currency-denominated securities or Islamic securities offered in Malaysia by a Resident as approved in writing by the Bank;
(b) Foreign Currency-denominated Financial Instrument or Islamic Financial Instrument offered in Malaysia by a Resident as approved in writing by the Bank excluding a derivative or Islamic derivative transaction entered with Firm Commitment;
(c) Deposit in Investment FCA with a LOB or an approved Financial Institution as specified in Notice 3; or
(d) Any instrument offered by a LOB with Foreign Currency delivery at maturity2.
2 Such as dual-currency investment.
v. “Resident” means –
(a) a citizen of Malaysia, excluding a citizen who has obtained permanent resident status in a country or a territory outside Malaysia and is residing outside Malaysia;
(b) a non-citizen of Malaysia who has obtained permanent resident status in Malaysia and is ordinarily residing in Malaysia;
(c) a body corporate incorporated or established, or registered with or approved by any authority, in Malaysia;
(d) an unincorporated body registered with or approved by any authority in Malaysia; or
(e) The Government or any state Government.
vi. "Foreign Currency Asset" means Foreign Currency Asset Offshore and Foreign Currency Asset Onshore.
(a) any Borrowing/financing in Ringgit obtained by a Resident from another Resident; or
(b) any obligation considered or deemed as Domestic Ringgit Borrowing/financing under any of the FE Notices.
Note: For purposes of determining the Domestic Ringgit Borrowing/financing status of a Resident Entity—
(a) the Resident Entity is deemed to have a Domestic Ringgit Borrowing/financing when another Resident Entity with Parent-Subsidiary Relationship has a Domestic Ringgit Borrowing/financing; and
(b) the following shall not be considered as Domestic Ringgit Borrowing/financing—
(i) a Borrowing/financing obtained from another Resident Entity with Parent-Subsidiary Relationship;
(ii) a Borrowing/financing obtained from its Direct Shareholder; or
(iii) any facility including credit facility or financing facility which is used for Sundry Expenses or Employees’ Expenses only.
− “Sundry Expenses” refers to small and infrequent expenses for office supplies (e.g. stationaries), ancillary services (e.g. software and online subscription) and other minor expenses to facilitate daily business operation.
− “Employees' Expenses” refers to business-related expenses which may include, but not limited to, travel (e.g. lodging and transportation), entertainment, health, insurance, takaful and other employees' expenses, excluding investment.
− “Borrowing/financing” refers to the definition of “Borrowing/finanicng” below.
"Borrowing/financing" means
(a) any utilised or unutilised credit facility or financing facility;
(b) any utilised or unutilised trade financing facility, including but not limited to, trade guarantee or guarantee for payment of goods;
(c) redeemable preference share or Islamic redeemable preference share; or
(d) Corporate Bond or Sukuk.
Notwithstanding the above, the following are excluded from the definition of
Borrowing/financing—
(i) a trade credit term extended by a supplier for any goods or services; (ii) a credit limit that a Licensed Onshore Bank (“LOB”) apportions for its client to undertake a Forward Basis transaction, excluding a transaction that involves—
(A) exchanging or swapping of Ringgit or Foreign Currency debt for another Foreign Currency debt; or
(B) exchanging of Foreign Currency debt for a Ringgit debt;
(iii) a Financial Guarantee or Non-Financial Guarantee;
(iv) an operational leasing facility;
(v) a factoring facility without recourse;
(vi) a credit card or charge card facility obtained by an Individual from a Resident and used for payment for retail goods or services only; or
(vii) a credit facility or financing facility obtained by a Resident Individual from a Resident to purchase one (1) residential property and one (1) vehicle.
Note: For clarity purposes, the transactions in paragraphs (ii)(A) and (ii)(B) shall be considered as Borrowing/financing."
ii "Foreign Currency Asset Offshore" means –
(a) a financial asset in Malaysia swapped for a financial asset in a Labuan Entity or outside Malaysia;
(b) Foreign Currency Borrowing/financing given to a Non-Resident;
(c) working capital arising from the set up of any business arrangement outside Malaysia (including a joint venture project where no Entity is created or established);
(d) deposit in a Foreign Currency Account maintained with a Labuan Entity or outside Malaysia excluding reasonable amount of deposit for education, employment or migration outside Malaysia; or
(e) Foreign Currency-denominated—
(i) asset (tangible or intangible) offered by a Non-Resident or any person whose residency cannot be determined;
(ii) asset (tangible or intangible) in or maintained with a Labuan Entity, or outside Malaysia;
(iii) Financial Instrument or Islamic Financial Instrument (excluding Exchange Rate Derivatives) without Firm Commitment offered on a Specified Exchange under the CMSA outside Malaysia undertaken by a Resident through a Resident futures broker; or
(iv) Financial Instrument or Islamic Financial Instrument (excluding Exchange Rate Derivatives) without Firm Commitment issued or offered by a Non-Resident.
iii. “Direct Investment Abroad” means –
(a) an investment in Foreign Currency Asset Offshore by a Resident resulting in at least 10% equity ownership or control of a Non-Resident Entity outside Malaysia or a Labuan Entity;
(b) an inter-company lending by a Resident Entity to a Non- Resident Entity within the Resident Entity’s Group where the Non-Resident Entity is outside Malaysia or a Labuan Entity; or
(c) a capital expenditure by a Resident investor in an unincorporated Entity outside Malaysia or a project outside Malaysia by an agreement with no establishment created, where the Resident investor—
(i) contributes capital of at least 10% of the cost of the project;
(ii) is entitled to at least 10% of profits from the unincorporated Entity or project; or
(iii) has management control of the unincorporated Entity or project.
iv. “Foreign currency asset onshore” means
(a) Foreign Currency-denominated securities or Islamic securities offered in Malaysia by a Resident as approved in writing by the Bank;
(b) Foreign Currency-denominated Financial Instrument or Islamic Financial Instrument offered in Malaysia by a Resident as approved in writing by the Bank excluding a derivative or Islamic derivative transaction entered with Firm Commitment;
(c) Deposit in Investment FCA with a LOB or an approved Financial Institution as specified in Notice 3; or
(d) Any instrument offered by a LOB with Foreign Currency delivery at maturity2.
2 Such as dual-currency investment.
v. “Resident” means –
(a) a citizen of Malaysia, excluding a citizen who has obtained permanent resident status in a country or a territory outside Malaysia and is residing outside Malaysia;
(b) a non-citizen of Malaysia who has obtained permanent resident status in Malaysia and is ordinarily residing in Malaysia;
(c) a body corporate incorporated or established, or registered with or approved by any authority, in Malaysia;
(d) an unincorporated body registered with or approved by any authority in Malaysia; or
(e) The Government or any state Government.
vi. "Foreign Currency Asset" means Foreign Currency Asset Offshore and Foreign Currency Asset Onshore.
Registration and Eligibility
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When will ISTC 2026 take place?
The Challenge will run from 5 October 2026 to 13 November 2026. Selected participants will be invited to attend the Bootcamp on 3 October 2026, while the Grand Finale and Prize-Giving Ceremony will be held on 25 November 2026.
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What are the eligibility criteria to participate in ISTC 2026?
- Malaysian citizen.
- Aged between 18 and 35 years old.
- Currently enrolled in a Diploma, Bachelor's Degree, Master's Degree or PhD programme at a public or private university in Malaysia.
- Complete the registration, online quiz and verification requirements.
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What personal information will be required?
Participants will be required to provide information such as their full name, NRIC number, contact details, email address, university details, and matriculation card number for registration, verification, participant administration and other purposes related to the Challenge.
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Is participation free?
Yes. Participation in ISTC 2026 is free of charge.
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Is there a limit on the number of participants for the Challenge?
Yes. Participation in ISTC 2026 is limited to a maximum of 400 eligible participants.
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Do I need to complete a quiz?
Yes. All applicants must complete an online quiz as part of the participant selection process.
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How are the top 400 participants selected?
Selection is based on the highest scores achieved in the online quiz, subject to eligibility and verification requirements.
Platform and Account Opening
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What platform/app will be used for the Challenge?
The Challenge will be conducted through the UP App by CGS MY. The UP App is a mobile investment application and Malaysia's first fractional share trading platform on Bursa Malaysia, allowing users to invest in fractional shares of selected Bursa Malaysia-listed securities. All applicants must download the UP App from the Apple App Store or Google Play Store and successfully register an account.
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What documents are required to open a UP App account?
Participants are required to have a valid Malaysian Identity Card (MyKad) for identity verification and account opening purposes. Additional information or documents may be requested by CGS MY during the account opening process where applicable.
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Do I need to have an existing CGS MY UP App account before registering?
No. You are not required to have an existing UP App account before registering. However, all applicants must successfully open a UP App account as part of the registration process.
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Can existing UP App clients join the Challenge?
Yes. Existing UP App users may participate. CGS MY will apply the necessary tracking and normalisation mechanisms to ensure that only eligible Challenge-related trading activities are considered for evaluation.
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Can I participate if I already have a trading account with another broker?
Yes. Participants may still participate in ISTC 2026 provided they meet all eligibility requirements and trade through the UP App for purposes of the Challenge.
Challenge Participation
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Will participants receive any start-up capital?
Yes. All eligible participants who successfully qualify for the Challenge will receive RM50 worth of selected Shariah-compliant fractional shares as start-up capital.
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Can I add my own money during the Challenge?
No. Participants must trade solely using the RM50 start-up capital provided under the Challenge. Additional deposits or top-ups are not permitted.
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What happens if I buy a Shariah non-compliant stock?
Trades involving Shariah non-compliant counters will be excluded from the Challenge evaluation and may result in disqualification, subject to the Organisers' discretion.
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Do I need to attend the Bootcamp?
Selected participants are strongly encouraged to attend the Bootcamp as it provides guidance on Shariah investing, trading strategies, the UP App and Bursa Gold Dinar account onboarding.
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What if I am unable to attend the Bootcamp physically?
The Bootcamp will be conducted in a hybrid format. Physical attendance is limited and will be allocated on a first-come, first-served basis. Participants who are unable to secure a physical seat or attend in person may join the Bootcamp virtually.
Evaluation, Winners and Prizes
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How are winners selected?
Stage 1: Portfolio Evaluation
Criteria Weightage Portfolio Performance 50% Completion of Minimum 2 i-ETF Trades 30% Completion of Fractional Share Trading Requirement* 20% *At least two (2) fractional share trades through the UP App, of which at least one (1) must be a buy transaction.
Stage 2: Grand Finale Pitching Competition (Top 5 Finalists)
Criteria Weightage Portfolio Performance 80% Pitching Assessment 20% Pitching Assessment Criteria
Criteria Weightage Trading Strategy and Approach 35% Portfolio Construction and Risk Management 30% Islamic Finance and Islamic Capital Market Understanding 20% Presentation and Q&A 15% -
How will prizes be awarded?
All prizes will be awarded in the form of Bursa Gold Dinar (BGD). Winners are required to maintain an active Bursa Gold Dinar account to receive their prizes.
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Will I receive a certificate for participating?
Certificates may be issued at the Organisers' discretion. Further details will be communicated to participants at a later stage.
Terms & Conditions
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Where can I find the full Terms & Conditions?
The full Terms & Conditions can be downloaded from the link provided below.