Author Topic: How to find info on shares of deceased parent  (Read 117 times)

Offline yoonlin

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How to find info on shares of deceased parent
« on: April 16, 2018, 09:05:54 PM »
Hi all, I hope I'm in the right place.

I am trying to find out how to get information on my late mum's shares.
I've already got the probate sorted, so i just need advice on how to find information about the shares and who to contact about selling them.

I've only got some misc documents, dividend cheques, account numbers, etc, about some shares.

I live in the UK and I'm afraid I don't really know how this works in Malaysia. So any information (links, customer service emails, how to find broker institution, etc) and advice will be very much appreciated.

Many thanks,
yoonlin

Online Teosh

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Re: How to find info on shares of deceased parent
« Reply #1 on: April 16, 2018, 09:25:14 PM »



Bursa does not determine beneficiaries

WE refer to the letter “Get rid of these unreasonable regulations” (The Star, Nov 23) by “Angry Senior Citizen”.

The plight faced by the complainant is well-appreciated by Bursa Malaysia Depository Sdn Bhd.

We would like to clarify that Bursa Malaysia Depository does not prescribe any regulations or determine a shareholder’s beneficiaries in a will. Therefore, the shareholder may decide the recipients of his shares upon his death, based on the will made by him.

Under the circumstances, Bursa Malaysia Depository would like to extend its offer to facilitate the process of the transmission of the securities’ titles (transfer of shares) to the executors of the deceased’s estate or the relevant beneficiaries.

 Currently, upon the death of a shareholder, the personal representative of the deceased’s estate or the relevant beneficiaries would be able to have the deceased’s shares transferred to them by completing the relevant form and forwarding the following supporting documents to Bursa Malaysia Depository:

> The Grant of Probate (where there is a will); or

> The Letter of Administration (where the deceased leaves no will); or

> The Distribution Order, if the same has been extracted;

> The Death Certificate; and

> The NRIC of the next-of-kin or the relevant beneficiary.

Upon receiving complete documentation, followed by verification of these documents, Bursa Malaysia Depository will instruct the relevant stockbroking companies where the deceased shareholder’s securities (CDS) accounts are maintained to transfer the shares from the deceased’s CDS account to the CDS account of the personal representative or relevant beneficiaries.

In this regard, Bursa Malaysia advises the complainant to contact its Depository Operations Department at 03–20347000 for any further clarification.

PUBLIC RELATIONS DEPARTMENT

Bursa Malaysia Bhd

Read more at https://www. thestar.com.my /opinion/letters/2012/11/27/bursa-does-not-determine-beneficiaries/#gcKyr4yVXDVuT1qB.99
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Offline yoonlin

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Re: How to find info on shares of deceased parent
« Reply #2 on: April 16, 2018, 09:34:10 PM »
 Teosh, thank you for the quick response and the article. It's given me some direction. I shall get in contact with Bursa.

Cheers,
yoonlin

Offline yoonlin

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Re: How to find info on shares of deceased parent
« Reply #3 on: April 17, 2018, 02:58:58 PM »
FYI for those who need it.
I called Bursa Malaysia and it is pretty much as the article said.

Theyneeded to see 3 documents -

- Grant of Probate/Letter of Admin (copy accepted if it's certified by the court)
- Death cert (copy accepted if certified by lawyer)
- IC of the executor

The executor have to bring them to Bursa in person, then the executor can decide who to transfer those shares to in order to sell.

They confirmed they records and information of the shares my mum has, so I don't need to provide them.

Thanks again to Teosh for the info.


Online Teosh

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Re: How to find info on shares of deceased parent
« Reply #4 on: April 17, 2018, 03:07:25 PM »
welcome ;)
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