Account Opening Agreement

1. INTRODUCTION

1.1 This Account Opening Agreement (this “Agreement”) is a legal agreement between you and Kenanga Investment Bank Berhad (Company Registration No. 197301002193 (15678-H)) (“KIBB”) to use our Services (as defined below).

1.2 KIBB is licensed by the Securities Commission of Malaysia (“SC”) to carry out fund management activities in relation to portfolio management (in particular, the digital investment management services called “Kenanga Digital Investing” or, in short, “KDI”) on the KDI Platform.

1.3 By accepting or acknowledging this Agreement digitally, signing up for a client trust account with Kenanga Digital Investing or using our services, you are deemed to have read, acknowledged and accepted this Agreement. Your electronic acceptance of the terms of this Agreement has the same effect as if you physically signed this Agreement with us.

1.4 In this Agreement, where the context so admits, the words and expressions used in this Agreement shall have the meanings set out in Schedule 1 of this Agreement.

2. ACCOUNT APPLICATION TO USE OUR SERVICES

2.1 To use our Services, you must provide such information and documents we may request from time to time, subject to the following requirements:

(a) you have completed an application or registration form required by us through our website, mobile app or via other methods as required by us;

(b) you have received an acceptance notice directly from us confirming that your application has been accepted and that you may use and access the KDI Platform, your Account and/or our Services; and

2.2 For the avoidance of doubt, we are not obliged to open any Account for you and/or provide you with any Services even if you meet the requirements.

2.3 You shall only apply for one Account and any such Account that we confirm acceptance to you must belong only to you and is not transferable to any other person. You shall not register for more than one Account and/or on behalf of any person other than yourself.

2.4 You are deemed to have accepted the terms and conditions of this Agreement upon your first access and use of your Account and/or our Services. After opening an Account with us, you shall be entitled to enjoy the Services which we may provide, subject to any addition, modification, suspension or termination of such Services in accordance with this Agreement.

2.5 We may monitor all your use of our Services to detect any improper activity relating thereto. You shall comply in a timely manner with our requests for information, documents and other material requested by us.

2.6 You agree to use our Services only for lawful purposes, in accordance with the terms of this Agreement.

2.7 We may at our absolute discretion provide alternative means by which you may enjoy the Services outside the KDI Platform, which will be subject to such terms and conditions as we may notify you.

3. INVESTMENT MANAGEMENT SERVICES

3.1 In accordance with this Agreement, we will provide fund management services within the range as may be specified by us and permitted under the Applicable Laws.

3.2 Before and during the provision of any Services, opening any Account or processing any Transactions for your Account, you agree and acknowledge that we may conduct an initial and periodic review of your risk profile, investment knowledge and experience, financial objectives and other relevant information to assess your specific needs or otherwise generally referred to as “Investment Experience and Needs Analysis” assessment in accordance with our policies and Applicable Laws. Accordingly, you must submit to us (through our website, mobile application or such other method as we may notify you) all documents, evidence and information as we may require to carry out such “Investment Experience and Needs Analysis” procedures. Such information may be requested by us from time to time in such documentation or form that we may prescribe, and when so requested, you warrant and represent to us that any information provided to us is accurate, correct, complete and up-to-date.

3.3 You agree to provide any information or documents requested by us in relation to your Account and/or Services, including for the purposes of complying with any Applicable Law or pursuant to any order, direction or request by any applicable court, government or regulatory authority. This includes but not limited to any applicable anti-money laundering requirements or any applicable tax disclosure or reporting obligations.

3.4 In addition, you acknowledge that we are obliged to carry our “Know Your Client” procedures in accordance with the Applicable Laws. Accordingly, before we can open an account for you, you must submit to us all documents, evidence and information as we may require to carry out such “Know Your Client” procedures.

3.5 Without prejudice to any provisions herein, we may, where required, share your Account information and any transactional information as well as the information you provide to us to the Inland Revenue Board of Malaysia and/or the Internal Revenue Service of the United States of America and/or exchanged with the tax authorities of another country/jurisdiction in which you may be a tax resident of, pursuant to the intergovernmental agreements to exchange financial account information, for the purposes of complying with our obligations under applicable tax disclosure or reporting obligations. Without prejudice to any other representation and/or warranty you have provided, you confirm that you have examined the information and documents you have provide to us as true, accurate and complete, and shall promptly advise us of any changes to such information. You further agree to provide us with such certifications or declarations as we may require from time to time for tax reporting/disclosure purposes.

3.6 You acknowledge and agree that:

(a) you are always solely and personally responsible and liable for accuracy, correctness and completeness of the information provided to us;

(b) when we receive any requested information from you, we are entitled to rely and act, and continue to rely and act, on that information you provide without verifying such information or any further inquiry;

(d) if you provide us with inaccurate, incorrect, incomplete or outdated information, or do not provide the information so requested by us, we are entitled to make decisions about your investment portfolio based only on the information already provided by you, in which case you acknowledge and agree that you shall be solely responsible if the investment strategy is deemed unsuitable and inappropriate for you. You also acknowledge and agree that we have the right to withhold Services from you at any time if we are not satisfied that the information provided is accurate, correct, complete and up-to-date; and

(e) if you are deemed not to possess the relevant knowledge or experience to use our Services, we may require you to complete specific prescribed courses or take actions as directed by us or take other steps as we may reasonably require before we proceed to open an Account for, effect any Transactions for or offer Services to you.

4. ASSET ALLOCATION & INVESTMENT PORTFOLIO

4.1 Our Services include recommending an allocation of Assets based on your Risk Profile (“Asset Allocation”) for your investment portfolio based on the information you provided us.

4.2 The recommended Asset Allocation is based on our understanding of your Risk Profile derived from our chosen methods or as otherwise specified by you based on our chosen definitions.

4.3 You are not obliged to accept any advice provided by, or recommendation made by us (including any investment strategy). You are entitled to determine, in your sole discretion, whether to accept, reject or implement any recommendation made by us. You may at any time request to change the Asset Allocation recommended by us by varying your Risk Profile parameters specified by us, and you agree that you shall be solely responsible for ensuring that the decision, whether determined based on your Risk Profile or your decision, is suitable and appropriate for you.

4.4 From time to time and at any time, we may recommend and/or make changes to your Asset Allocation based either on changes in your specific financial objectives and risk, including but not limited to your financial situation, needs and/or based on our assessment of the general economic or market conditions, and/or any other factors which we consider to be relevant. With your prior consent in accepting the initial recommended Asset Allocation, we may proceed to act on our recommended changes without obtaining further consent from you, and you are deemed to have agreed to our recommended Asset Allocation changes.

4.5 You acknowledge and agree that when we recommend such changes, we will rely and/or act on the information you provided to us previously, and that such information provided by you is without verification or further inquiry by us.

5. AUTHORISATION

5.1 Pursuant to the Asset Allocation recommended by us and accepted by you, you hereby acknowledge, agree and accept that:

(a) your Account is opened/maintained as a discretionary investment account and we will, manage your portfolio and you authorise us to make investment decisions for you except for the deposit, withdrawal of your monies from your Account, and the risk profile that is used for each investment portfolio/financial goal;

(b) we may, in our discretion, choose the Asset Allocation as we may deem fit, and/or switch from one investment portfolio to another, at any time and from time to time, without requiring any prior approvals and/or authorization from you to do so.

(c) we may enter into any kind of transactions and/or arrangements for you and/or to invest in any types of investments and/or other assets and, without limitation, to close out transactions and deal with your Assets including selling such Assets or settling a sale order on your behalf.

(d) you authorise us with discretionary powers to withdraw and/or invest monies in your Account, as your agent and at your sole risk and account, in the Investments;

(e) you understand, acknowledge and accept fully the risks of giving us the discretion to manage your Assets and Investments on your behalf;

(f) we are entitled to manage your Assets in your Account accordingly, and we may transact on any market, exchange, and execute counterparty and account opening documentation on your behalf, and take all routine or day-to-day decisions, and otherwise act as we may consider appropriate in our sole and absolute discretion;

(g) we may enter into any kind of Transactions or arrangements for you and invest in any types of Investments or other assets and, without limitation, to close out Transactions, deal with your Assets including selling such Assets, or settling a sale order on your behalf;

(h) all Transactions, arrangements entered into and actions taken by us on your behalf, including the collection, delivery and receipt of funds, Assets, all payments, closing out and unwinding of Transactions, will be made by us as your agent, for your sole account and at your sole risk;

(i) we may determine how Transactions are to be carried out including investment timing and duration, or decide to use or refrain from using measures to hedge against price, currency or interest risks, choose investment instruments which appear appropriate for hedging and use any other measures to optimize returns on existing investments as we may in our absolute discretion, deem fit;

(j) provided always, that the Transactions, arrangements and actions taken on your behalf are in accordance with the recommended Asset Allocation;

(k) subject to our internal minimum threshold of investment size per Account set by us from time to time, we have full discretion to include your investment into an Asset Allocation with other Accounts for the purpose of reducing costs and expenses accruing to your Account otherwise; and

(l) we may pool your Transactions to be executed with Transactions executed on behalf of our other clients and proprietary accounts for the purpose of achieving economical transaction costs. Therefore, the precise proportion of your Assets allocated to each type of Investment may vary from any Asset Allocation representations we make to you regarding such Investments.

6. YOUR INVESTMENT MONEY

6.1 You will deposit your monies directly into a client trust account as specified by us. We shall only accept monies from you which are received from bank accounts belonging to you. If we are not satisfied that the monies deposited by you came from bank accounts belonging to you, we shall have the right to reject such monies, subject to Applicable Laws. This client trust account will be held on our behalf by the Custodian which in turn will hold a bank deposit account with a bank licensed under the FSA and/or such other financial institutions permitted under the relevant regulations.

6.2 We may hold monies received from your account in an omnibus client trust account together with monies that we hold for other clients in an omnibus trust account, which is an account for all our clients’ monies. There are risks involved in such an arrangement, and your monies may not be subject to the same protection as that conferred on monies held on a segregated basis.

6.3 Your trust account will be maintained with a Malaysian licensed trustee/custodian, which in turn will hold a bank deposit account with licensed bank in Malaysia. If you make investments into certain portfolios, we may also hold your money together with the monies of our other clients in an omnibus trust account we hold for other clients. This means that such monies in the trust account will be co-mingled with the monies of our other clients. In view of the constant fluctuation of the aggregate balance, it is not possible to account separately the risk based on each client’s interest (if any) due on the cash balances in the omnibus client account as it is done on an aggregated basis.

6.4 In the event of insolvency of us, trustee/custodian or other financial institution holding the omnibus client trust account, you understand that you may not be able to fully recover your monies. Further, as your monies are co-mingled with those of other clients in the same account, you may potentially be exposed to the losses of other clients. Consequently, you may not be subject to the same protection as compared to your monies being held on a segregated basis.

6.5 We may set minimum thresholds, from time to time, for money transfers to and from your Account, and which may vary depending on the currency in which the money transfer is being made and/or requested.

6.6 We are entitled, through our trustee, to convert any sum received to the currency of your Account or the currency in which payment is to be made at a rate of exchange determined at the relevant time.

6.7 Exchange rate losses and the costs of conversion shall be borne by you.

6.8 Any fees, charges, expenses or other form of costs including but not limited to foreign currency related costs and bank remittance related charges, and you hereby acknowledge and accept that any such costs incurred by you will be borne by you without recourse to us.

6.9 Where there are fees, charges, expenses or other form of costs incurred, whether at our discretion or on your Instruction, you acknowledge and accept that such costs incurred by us in whatever form may be payable directly by you, charged to your Account, debited from your Assets or paid through the sale of Investments.

6.10 We shall only accept and/or remit monies received from/to bank accounts belonging to you and you only in single name.

6.11 For the avoidance of doubt, even with clear proof that a bank account designated by you does indeed belong to you, we are not obliged to accept, receive or remit monies, whether at our discretion or on your Instruction, if your designated bank does not meet our internal criteria to be on our list of approved banks.

6.12 You acknowledge and agree that money transfers particularly withdrawals from investments is not immediate and will take time, subject to the exigencies of normal business practice. Until money transfers are documented and evidenced, we are not liable for any action or the lack thereof in relation to our Services.

7. BROKERAGE AND CUSTODY

7.1 You accept and agree that Investments pursuant to your Asset Allocation may be invested, purchased and/or sold through or by any of our nominee, agents, or brokers (including internal parties or divisions within KIBB) (collectively, “Third Parties”) held through our appointed Custodian and consent to the appointment of such Third Parties.

7.2 You accept and agree that we will have full discretion as to the use of such Third Parties to execute your Transactions. We will use Third Parties selected in good faith.

7.3 For the avoidance of doubt, we may purchase or sell the same Investments for several clients at approximately the same time, or we may combine or “batch” such Transactions to obtain best execution, to negotiate more favourable Transaction costs or to allocate equitably among some or all our client accounts. We may execute the purchase and sale of similar Investments across different clients, in whole or in part, without using a broker and thereby, reduce execution costs. Accordingly, Transactions may be bulked and settled based on fair and reasonable calculated or reference price(s) of the specific Investments and may be allocated among multiple client accounts in proportion to the purchase and sale orders placed for each client account on any given day.

7.4 You agree we shall have no liability or responsibility for any act, omission, insolvency, negligence, failure or default of the Third Parties. The Third Parties may also appoint further custodians, sub-custodians, trustees, registrars, administrators, nominees and/or agents as may be necessary or expedient to provide the relevant services or Investments to us. You agree that we shall have no liability or responsibility in relation to any actions taken by such persons or these further appointments by our Intermediaries which are beyond our reasonable control. You agree to indemnify us against any and all actions which we deem in good faith necessary to ensure that we will not be in default of our obligations or responsibilities under this Agreement. Our foregoing right shall apply even though as between you and us, you may be in actual or anticipatory default. The foregoing indemnity in our favour is in addition to any other right that we may have whether expressly provided as between us or implied by law.

7.5 As we may have accepted principal responsibility and/or liability to Third Parties, you acknowledge and agree that there is a risk that such Third Parties may regard any Investments which we purchase and/or our custodian purchase on your behalf, as investments for ourselves, with possible instances of prejudice to you such as the risk that the Third Parties may use your Investments to satisfy our obligations or obligations of our other clients. You hereby accept and agree that this is a necessary risk of using our Services.

7.6 You acknowledge and hereby agree that:

(a) the Investments will be purchased for you in an omnibus account in-house or with another broker/custodian/ nominee/ exchange/ clearing house aggregated with other Investments of our other clients. This means that your Investments will be co-mingled with the assets of our other clients and/or yours of the custodian. Given such co-mingling, the Investments may be registered collectively in our name or the name of the Custodian and your entitlements may not be identifiable as separate certificates, titles or electronic records. You agree that if there are any dividends, interests, rights, benefits or other proceeds in relation to your Investments resulting from such co-mingling, we shall have full discretion as to the allotment of such dividends, interests, rights, benefits or other proceeds;

(b) In the event of insolvency or default of the Custodian, you understand that you may not be able to fully recover your Assets and Investments held in the omnibus trust account. Any shortfall in the Investments may be shared among you and our other clients and/or your local custodian pro rata. As your Investments are co-mingled with those of other clients in the same account, you may potentially be exposed to the losses of other clients;

(c) if we or through our Custodian have engaged any such broker/ custodian/ nominee/ exchange/ clearing house in good faith, we shall not be liable to you for any and all losses suffered or incurred by you as a result of any act, omission or insolvency of any such broker/ custodian/ nominee/ exchange/ clearing house;

(d) where Investments are denominated in a foreign currency, the Investments may be held with any entity engaged by us which is licensed, registered or authorised to act as a custodian in the country or territory where the Assets are held, and the omnibus account is maintained;

(e) your Investments may be treated as fungible with other Investments in the omnibus account and therefore, we are not obliged to deliver any specific Investments to you and may instead sell the Investments at your expense and transfer any proceeds to credit balance in your account.

(f) your Assets may be held by third-party custodians engaged by us at our full discretion, and in such cases, you are deemed to have fully authorized us to give Instructions to such third-party custodians with respect to all Transactions pursuant to the Services we provide you.

(g) where you close your Account before the receipt by us of proceeds arising from dividends and/or other corporate actions from any Investment(s) accruing to your Account, such a receipt may be remitted to you provided it is a gross amount of above a pre-determined amount or more.

(h) where Investments are denominated in a foreign currency, the Investments may be held in an omnibus trust account with an entity which is licensed, registered or authorised to act as a custodian in the country or territory where such Investments are held and the for certain portfolios where the Investments are units of collective investment schemes purchased through a scheme manager, we will ensure that the relevant scheme manager is licensed to conduct fund management activities in Malaysia. The scheme manager may also appoint appropriately licensed custodians, trustees, registrars and administrators in respect of collective investment scheme. The custodial arrangements in respect of these Investments will be subject to the terms and conditions as agreed between the scheme manager and the relevant Custodian; and

(i) an omnibus trust account is maintained. In such case, you understand that the laws and practices relating to trust accounts in the relevant jurisdiction may differ from the laws and practices in Malaysia. Such differences mean that your Investments may not enjoy the same level of protection as accorded to Investments that are held in Malaysia. Depending on the jurisdiction, this may affect your ability to recover the Investments deposited in your trust account.

8. RISKS

8.1 We do not guarantee the future performance of your Assets/Investments. You agree that Transactions made pursuant to our recommended Asset Allocation for and on your behalf involve substantial risks arising from and related to among others, market, currency, economic, political and business risks, and that those Transactions will not always be profitable.

8.2 There is no guarantee that Asset Allocation pursuant to the Services we provide you will necessarily produce the intended results. The price of any security or the value of an entire asset class can decline for a variety of reasons outside of our control. High volatility and/or the lack of deep and active liquid markets may prevent selling Investments at all, or at an advantageous time or price because of difficulty in finding a buyer and may be forced to sell at a significant discount to market value. You agree that we shall have no liability for any losses in your Account or Assets.

8.3 In using our Services, you acknowledge and accept that you are solely responsible to be fully aware of the risks of Transactions entered into for and on your behalf pursuant to this Agreement, which includes and is not limited to the following:

(a) Your Assets and Investments are not “capital protected”, and there is risk of capital loss by using our Services and entering into Transactions pursuant to this Agreement.

(b) Where the Investments are domiciled or listed in Malaysia and/or jurisdictions other than Malaysia, such Investments are subject to the laws and regulations of the jurisdiction where they are domiciled or listed, and you hereby acknowledge and accept the risks involved with such Investments as stated in the Overseas Investment Products Risk Warning Statement in Schedule 2;

(c) Payments or receipts related to your Transactions will be exposed to price, foreign currency exchange, interest rate or other volatility in that market or markets as well as finance charges, among others, where your Investments are domiciled or listed, resulting in potential losses which may be substantial if market conditions are adverse; and

(d) Fluctuations in foreign currency rates will impact the value of your Investments resulting in either profit or loss if the related Transactions are denominated or settled in a different currency from the currency where you carry on your ordinary business or keep your financial accounts.

8.4 You are solely responsible to fully understand that the use of our Services exposes your Assets to vagaries of volatile markets, and there is no certainty as to the extent of profit/loss you would be exposed to thereof, including the extent of loss should we have to liquidate your Investments pursuant to our discretionary Asset Allocation decisions for and on your behalf. If your Investments are liquidated at a loss, you hereby acknowledge and accept that you will be liable to us for any resulting deficit in your Assets held in your Account.

8.5 Any advice provided by us to you will be based on information from sources believed to be accurate, and that no representation or warranty, express or implied, is made by us as to the accuracy, completeness or suitability of such advice.

8.6 You are solely responsible for making your own independent investigation and appraisal of all Investments and your own independent verification of any advice, recommendations, view, opinion or information provided by us.

8.7 You shall fully understand and familiarise yourself with all the terms and conditions of the Investments and the risks involved, and agree that you will only accept our recommended Asset Allocation and Transactions on the basis of your own independent review and determination that the Asset Allocation and/or Investments are suitable and appropriate for you, taking into account your specific objectives, financial situation, investment knowledge and experience.

8.8 You agree that you have made all necessary enquiries and we have informed you of all material features of and risks involved in respect of the Investments including but not limited to information on:

(a) the nature, objective(s), key benefit(s) and risk(s) of the Investments;

(b) the providers of the Investments;

(d) key benefits and risks of the Investments;

(e) your key rights with respect to the Investments;

(f) the intended time horizon of the Investments;

(g) the ease of converting the Investments to cash;

(h) the expected risk tolerance you need to take on the Investments;

(i) the pricing of the Investments;

(j) the fees and charges to be borne by you to take on the Investments;

(k) the frequency of reports to be provided to you in respect of the Investments;

(l) any applicable charges or restrictions on withdrawal, surrender or claim procedures of the Investments;

(m) any applicable warnings, exclusions and disclaimers; and

(n) the documented information pertaining to the Investments and where the prospectus, if available, may be accessed; and

(o) information in relation to where the prospectus in respect of the Investment (if applicable) may be accessed, or if we consider, if appropriate, an abridged version of such prospectus.

8.9 You accept that you have the requisite risk appetite to assume all economic consequences and risks of the Investments and are solely responsible for any necessary consultation with your own tax, legal and other advisers.

8.10 You acknowledge that we may have an interest in the subject of any investment report or recommendation or may be a counterparty to any Investments entered by you and/or may otherwise benefit from your Investments.

8.11 You acknowledge that our Asset Allocation recommendations may rely on computer models, data inputs and assumptions in generating trade orders or recommendations (as applicable). Statistical models, such as those used by us, rely on back-tested information, and, thus, may not operate as expected or intended when events having few or no historical antecedents occur, and, accordingly, may generate losses another manager could have been able to avoid. In addition, any disruption to our Asset Allocation algorithms may result in disruptions to your Investments and Assets.

8.12 We, including our affiliates and other service providers for which our Services may rely on in one form or other, are subject to risks associated with a breach in cybersecurity. Such a breach may result in damage and disruption of hardware and software systems, loss or corruption of data, and/or misappropriation of among others, confidential information. You may incur substantial losses and/or costs as the result of a cybersecurity breach, including those associated with forensic analysis of the origin and scope of the breach, increased and upgraded cybersecurity, identity theft, unauthorized use of proprietary information, litigation, and the dissemination of confidential and proprietary information. Any such breach could expose us to civil liability as well as regulatory inquiry and/or action. In addition, you could be exposed to additional losses as a result of unauthorized use of your personal information.

8.13 While we have established business continuity plans, incident response plans and systems designed to mitigate cybersecurity risks, there are inherent limitations in such plans and systems, including the possibility that certain risks have not been identified. Similar types of cybersecurity risks also are present for issuers of securities in which we invest, which could result in material adverse consequences for such issuers and may cause losses in Investments and Assets.

8.14 The foregoing list of risks does not purport to be a complete enumeration or explanation of the risks involved in using our Services. As investment strategies develop and change over time, you may be subject to additional and different risk factors. No assurance can be made that profits will be achieved or that substantial losses will not be incurred.

9. FEES AND CHARGES

9.1 The fee(s) payable by you to us for the Services is specified in the Fee Schedule available at our website and may be amended from time to time. You agree that any amendments to the charges and fees can and may be applied to you with adequate notice through our website or other forms of communications with you.

9.2 You shall make all payments due under this Agreement free and clear of, and without deduction, withholding or set-off on account of, any tax or levy or any other charges present and future.

9.3 You shall be liable for any goods and services tax, value added tax, stamp duties or any other tax of a similar nature chargeable by law on any payment you are required to make to us. If we are required by law to collect and make payment in respect of such tax, you will indemnify us against such payments.

9.4 We may deduct your Account and Assets with the full amount of any fees payable by you, or any other monies owed by you to us pursuant to any liability of any nature arising in respect of your Account or otherwise. For this purpose, we may withdraw and collect uninvested cash in your Account and/or sell your Assets and collect the proceeds from such sale.

9.5 You acknowledge and accept that you may incur, for certain Investments such as collective investment schemes, fees and charges imposed directly at the collective investment scheme level.

9.6 We reserve the right and sole discretion to negotiate the fee for certain client Accounts for any period of time determined by us and may adjust or waive our fees for the Accounts of some clients without notice to, or similar fee adjustment for you.

10. REPRESENTATIONS

10.1 You represent and warrant that:

(a) you are an individual, and the legal and beneficial owner of your Account;

(b) all information and documents provided to us, including the information contained in the on-boarding process completed by you prior to opening an Account with us, are true, correct and complete and not misleading in any way;

(c) you have the capacity, power and authority to enter into, exercise your rights and perform and comply with your obligations under this Agreement;

(d) all actions, conditions and things required to be taken, fulfilled and done, in order (i) to enable you to lawfully enter into, exercise your rights and perform and comply with your obligations under this Agreement, and (ii) to ensure that those obligations are valid, legally binding and enforceable, have been taken, fulfilled and done;

(e) your entry into, exercise of your rights and/or performance of or compliance with your obligations under this Agreement does not and will not (i) violate any agreement to which you or where applicable, any of your affiliates, is a party or which is binding on any of you or your respective Assets, or (ii) result in the existence of, or oblige any of you to create, any security over those Assets;

(f) you have obtained all consents, licences, approvals or authorisations of, exemptions by or registrations with or declarations by, any governmental or other authority that you require, and these are valid and subsisting and will not be contravened by the execution or performance of this Agreement;

(g) you have read and understood the full contents of this Agreement, the Platform Use Agreement;

(h) your use of our Services complies with all Applicable Laws;

(i) you will, if necessary, consult your own professional advisers as to the relevant legal, tax and exchange control regulations in force in the countries of your citizenship, incorporation, residence or domicile;

(j) you understand that we may at its absolute discretion approve the opening of your account or reject your application without assigning any reason whatsoever;

(k) you have read and understood the full contents of this Agreement and Platform Use Agreement (collectively, “Terms”), and the said Terms can be found in our website at https://digitalinvesting.com.my/account-opening-agreement/ and https://digitalinvesting.com.my/platform-agreement/ respectively. You shall refer to the aforementioned respective websites for the updated version of the Terms, where applicable;

(l) you fully accept and agree to be bound by the said Terms and agree that the said Terms may be varied and/or supplemented by us from time to time;

(m) you are at least eighteen (18) years old and you are neither insolvent nor an undischarged bankrupt. You do not have any criminal records nor any litigation cases pending against you for any debt due and you have not been declared a defaulter at any time to date;

(n) the particulars and information including any relevant document given are true and correct and you have not withheld any material facts or information from us. You undertake to furnish us with such additional particulars including any relevant document as we may require from time to time;

(o) you authorize us to verify the information given by you from any source (including third parties and regulatory bodies) and in such manner as we shall deem fit. You undertake to inform us in writing should there be any change(s) to your particulars declared and provide the relevant documentation; and

(p) you are not involved in any money laundering activities and/or terrorism financing activities within the meaning of Section 3 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (“AMLA”).

10.2 You further undertake, consent, accept and agree:

(a) that we have a legal obligation under the AMLA (including any amendments to such law, and any guidelines issued or to be issued pursuant thereof by any regulator, authority and/or statutory body) (“AMLA Legislations”), which amongst others require us to identify and verify source of funds. In this regard, you shall disclose the accurate information on the source of funds and shall ensure that it is not derived from any form of illegal or unlawful activities;

(b) for us to reveal any information related to your Account or yourself to any such regulatory/statutory bodies or authorities without giving you notice nor first obtaining your approval. Where any suspicion of money laundering and/or financing of terrorism arises, we are therefore authorized to report the suspicions to the Financial Intelligence and Enforcement Department (“FIED”) in BNM or to such any other regulatory/statutory bodies without giving you notice nor first obtaining your approval. You further agree to abide and comply with any directives or orders which may be issued and imposed by the respective regulations, authorities and/or statutory bodies from time to time and further undertake to give any required evidence and/or documentation required by us, the respective regulations, authorities and / or statutory bodies for the purpose of complying with the AMLA Legislations in the applicable jurisdiction where the transactions are to be executed from time to time. Failure to comply may result in criminal sanctions against you and we reserve the right to freeze or terminate your Account(s) pending supply of all requested particulars/information. In such an event, you shall have no claim and/or cause of action whatsoever against us in respect of any losses, liabilities, damages, claims, interest/profit, charges, expenses, costs and any other adverse consequences of whatsoever nature or howsoever incurred / suffered / sustained by us;

(c) for us and the credit reporting agencies to obtain and/or disclose any Credit Information (as defined under the Credit Reporting Agencies Act 2010 including information from the databases of Bank Negara Malaysia known as CCRIS and DCHEQS) relating to us from and/or to the credit reporting agencies, Bank Negara Malaysia or any source deemed appropriate for the purpose of including but not limited to credit assessments, opening of account, account review and monitoring, debt recovery, scoring solutions, legal documentation and/or action consented to a contract or facility granted and for the maintenance of your account with us;

(d) to the disclosure by any regulatory authorities to you, and to such agents, service providers and subcontractors of us as informed by us to the regulators, of information or documents relating to our affairs and in particular, relating to your account(s) (for example balances, account particulars and transactions). This consent shall be valid until revoked by us. You hereby release the regulators from any loss or liability arising from or in connection with this authorisation except for loss or liability which you may suffer as a result of any act, statement or omission that was not done in good faith by the regulators;

(e) that the information pertaining to you and your transactions may be shared within our group of companies, and be made available, without limitation to our agents, affiliates or advisors, Custodian/sub-custodian’s agent’s or advisors, insurers, brokers, underwriters, reinsurers, outsource service providers, guarantors or security providers, rating agencies, our advisors (including but not limited to accountants, auditors, lawyers, financial advisors or other professional advisors) where authorized by us, any other person notified by us as authorized to give instructions or to use the account(s) / facility(ies) or products or services on your behalf, any third party as a result of the acquisition or sale of any company by us (provided that any recipient uses my Information for the same purposes as it was originally supplied to us and/or used by us), financial institutions, and/or all relevant and applicable authorities/regulators and/or pursuant to any law;

(f) for us to deal and process your personal data in accordance with its Personal Data Protection Notice. You confirm that you have read and understood the Personal Data Protection Notice and accept the terms and conditions.;

(g) to update your personal information within 30 days should there be any changes to the information or declarations made herein;

(h) to authorize us and our authorized officer to issue and deliver documents (including statements and correspondences) and any other notices by way of electronic means or online devices from time to time through email and/or such other means as we may choose. Subject to any applicable regulations/laws, by providing your email address and handphone number to us, you have consented to receive communications and/or information from us relating to your investment via email and / or SMS. Notices delivered via email and/or SMS to you are deemed sent and received on the date such email and / or are sent;

(i) to accept and assume the risk associated with the transfer of documents/information by way of electronic means or online devices and/or delivery, including but not limited to delays or failure in the transmission due to breakdown or failure of transmission or traffic congestion of communications or any other cause(s) beyond our control or anticipation and/or inherent risks in receiving such documents by way of electronic means or online devices. You will not dispute or challenge the validity, enforceability or admissibility of any documents issued and delivered by way of electronic means;

(j) in the event of systems failure, you consent to receive documents via post, fax or such other means as we deems fit and appropriate;

(k) that any documents sent to your email address provided to us by way of electronic means shall be deem to be duly served on you on the day such communication by email was made;

(l) that you shall assume all responsibilities or liabilities whatsoever for any direct or consequential losses arising from or in connection with us acting in accordance with the terms herein. You further agree to indemnify us against all actions, claims, demands, damages costs, charges and expenses which you may sustain, incur and be liable for as result of or in consequence of or in connection with you acting in accordance with the terms herein; and

(m) that you have read the Overseas Investment Products Risk Warning Statement in Schedule 2 herein and understand its contents.

11. RECORDS AND REPORTS

11.1 We shall maintain proper and complete records relating to our Services under this Agreement for the duration as required by the Applicable Law, and we shall provide you with periodic reports for your Account. Any statements and any other documents will be sent to you via electronic means to the email address indicated by you at account opening or edited subsequently. You may download, save or print the documents for your subsequent reference.

11.2 You agree to verify the correctness of all details contained in each statement, or any document sent to you and inform us within fourteen (14) days from the date of such document of any discrepancies, omissions, or errors. Upon the expiry of this period, the details in such documents shall be conclusive evidence against you (save for manifest or clerical error) without further proof, except as to any alleged errors so notified, that such details are correct, but subject always to our right to amend or delete from time to time, any details wrongly inserted by us.

11.3 You agree that provided we are not fraudulent or in willful default, we shall be free from all claims in respect of any Account or the details of the Transactions or Services contained in such documents.

11.4 We have the right, upon giving reasonable notice to you, to reverse any entry, demand refund, and/or debit your Account in respect of any overpayment or wrongful credit in your Account.

11.5 Without prejudice to any of the foregoing we may at any time without prior notice to you rectify any clerical errors that may have been made.

12. RELATED DEALINGS

All Transactions that you carry out with us and/or Services we provide to you shall be inter-related. We are therefore entitled to withhold performance of or not to perform our obligations should you fail to fulfil any one of the obligations due upon you.

13. INDIVIDUAL ACCOUNTS ONLY

You may only open an Account with us as an individual and be at least 18 years of age. In the event of your death, your executor or administrator shall be the only person authorized by us to act on your behalf. Upon your death, we are entitled to retain any of your Assets, and any monies payable to or credit in any Account until such time that a grant of probate or letters of administration are produced by your executor or administrator.

14. REFERRALS

If you have been introduced to us by a third party (including existing clients), you acknowledge and agree that we do not accept responsibility for any conduct, action, representation or statement of such third party (including existing clients) although we may share our fees with or provide such other benefit as we may deem appropriate to such third party (including existing clients).

15. DORMANT ACCOUNTS AND UNCLAIMED ASSETS

15.1 Your Account will be deemed dormant if you have not accessed your Account or otherwise undertaken any activity in relation to your Account for seven (7) years, in which case, we reserve the right to de-activate your Account.

15.2 If you wish to resume activity, you will have to reactivate your Account by providing us with such information as we may require, to authenticate your identity.

15.3 If we determine in good faith that we are still unable to trace you seven (7) years following dormancy, your Account will be terminated and we are entitled to liquidate any remaining Assets in any Account or any Assets held for you by us or our affiliate (including accrued dividends, together with any property as may from time to time continue to accrue to those monies and property (whether by way of dividends, interest or otherwise) may forthwith be liquidated by us and the proceeds of the liquidation (after setting off any applicable administrative costs) shall be dealt with in accordance with the provisions of the Malaysian Unclaimed Moneys Act 1965. You thereafter shall have no right whatsoever to claim such proceeds from us, you being deemed to have waived and abandoned all your rights to such proceeds (and any other property as may accrue to it).

16. NO WAIVER

16.1 No failure or delay on our part in exercising any power of sale or any other rights or options hereunder and no notice or demand which may be given to or made upon you by us with respect to any power of sale or other right or option hereunder, shall constitute a waiver thereof, or limit or impair our right to take any action or to exercise any power of sale or any other rights or options hereunder without notice or demand, or prejudice our rights as against you in any respect or render us responsible for any loss arising therefrom. A single or partial exercise of a right, power or remedy does not prevent another or further exercise of that or another right, power or remedy. A waiver of a right, power or remedy must be in writing and signed by the party giving the waiver. No waiver in any particular instance shall extend to or affect any other or subsequent event or impair any powers, rights or remedies in respect of it or in any way modify or diminish our other rights or remedies under this Agreement or at law.

16.2 We may grant time or other indulgence to you or any other person, without impairing or affecting in any way any of our rights as against you or any such other persons.

17. ELECTRONIC RECORDS

17.1 Our records including computer and microfilm stored records or any other electronic records stored by us of all matters relating to you, any Transactions, Accounts and/or any Services provided to you is conclusive evidence of such matters and is binding against you for all purposes, save for manifest or clerical error, subject to our right to rectify any error or omission therein and our right to adduce other evidence. You hereby agree not to at any time dispute the authenticity or accuracy of any computer output relied upon by us for any purpose whatsoever.

17.2 You acknowledge and agree that we shall be entitled to destroy or dispose of all registers, statements and other records and documents relating to your Account, Services or Transactions at any time after the expiration of any period of retention required by Applicable Law. We shall not be liable in any way for such destruction or disposal.

18. AFFILIATES

18.1 You acknowledge and agree that we may, in the conduct of our functions, instead of acting ourselves, delegate to or appoint any service provider, agent, sub-agent, contractor, sub-contractor, broker, dealer, custodian, nominee or other third parties, whether in Malaysia or otherwise, (and such persons shall each be referred to in this Agreement as an Affiliate of ours, where the context permits) to carry out, execute or clear any Transaction, hold or deal with your Assets, or provide ongoing maintenance and support services for the operation of the KDI Platform or such other Services or business as may be required by us.

18.2 You acknowledge and agree that we may delegate to such Affiliates all or any of the power, authority or discretion vested in us and any such delegation may be made upon such terms and conditions and subject to such regulations (including the power to sub-delegate) as we may think fit and, provided always that we shall have exercised reasonable care in the selection of such Affiliate, we shall not be bound to supervise the actions of and shall not in any way or to any extent be responsible for any loss incurred by you for any failure, neglect, default or breach by any such Affiliate.

18.3 You agree that our employees, officers, or Affiliates shall not have any authority to bind us to any obligations or liabilities as otherwise expressly provided in these Terms.

19. RECORDING

19.1 We may record any telephone conversation or utilise any electronic communication conducted between you and us or our personnel and to retain such recordings and use them in such manner as we consider appropriate. The recordings shall be admissible in evidence in legal proceedings and shall have the same probative value as a written original document. You shall not challenge or dispute the admissibility, reliability, accuracy or the authenticity of the contents of such records and you hereby waive any right (if any) to so challenge or dispute. You agree that the recordings made by us shall be conclusive evidence of the contents and shall be binding on you.

20. SUSPENSION AND TERMINATION OF SERVICE

20.1 We reserve the right to restrict, temporarily or permanently suspend or terminate your Account, or the provision of any Services, at any time and with immediate effect, without incurring liability of any kind to you, if any of the following events occur:

(a) you have not fully complied with our account opening criteria and/or met our account opening criteria (as we shall set from time to time), including, or “Know Your Client” procedures;

(b) you fail to make any payment to us or any other party when due, whether under this Agreement or otherwise for the Service;

(d) your bankruptcy, or any grounds exist for the presentation of a bankruptcy petition against you;

(e) any representation or warranty made by you under this Agreement for the Services is incomplete, untrue, incorrect or misleading in any material respect;

(f) you have breached the terms of this Agreement;

(g) you are using the KDI Platform or the Services in a manner that may cause us to breach Applicable Laws, have legal liability or disrupt others’ use of the KDI Platform or the Services;

(h) you are using the Services for any illegal activities or where we have reasonable suspicion that you may be doing so, or we become aware or suspect that your Account is or will be used for illegal, fraudulent or unauthorized uses;

(i) we become aware or suspect that your user access (i.e. any user identification, passwords and other security credentials assigned to you and required to access and use the KDI Platform) are stolen, lost, damaged or compromised;

(k) we become aware or suspect that the person logged into your Account is not you,

(l) we are required to do so by Applicable Laws or pursuant to a request by any Regulatory Body;

(m) scheduled downtime or recurring downtime;

(n) a Force Majeure Event;

(o) you publish, post, transfer, distribute or upload any content or information to the KDI Platform which is false, misleading or inaccurate, contains rude and inappropriate language or which creates the impression that any content is sponsored or endorsed by us;

(p) you modify, adapt or reverse engineer the KDI Platform or any part thereof;

(q) you transmit any viruses, worms, defects, Trojan horses or any other items of a destructive nature, or that may otherwise compromise the security of the KDI Platform;

(r) you create multiple Accounts;

(s) you create Accounts by automated means or under false or fraudulent pretenses; or

(t) you are, in our opinion, the subject of any adverse publicity or involved in any litigation that we reasonably believe would be detrimental to our interests.

20.2 “Force Majeure Event” means any event beyond our reasonable control (and which does not relate to or arise by reason of our default or negligence) which renders impossible or hinders our performance of this Agreement including our Services, including, without limitation:

(a) war, riot, civil unrest or revolution, sabotage, terrorism, insurrection, acts of civil or military authority, imposition of sanctions, embargo, breaking off of diplomatic relations or similar actions;

(b) terrorist attacks, civil war, civil commotions and riots;

(c) acts of God, epidemic, pandemic, flood, earthquake, typhoon or other natural disasters or adverse weather or environmental condition;

(d) any act of state or other exercise of sovereign, judicial or executive prerogative by any government or public authority, including nationalisation or compulsory acquisition;

(e) fire, explosion or accidental damage;

(f) collapse of building structures or failure of plant machinery, computers or vehicles;

(g) interruption or failure of utility service, including but not limited to electric power, gas, water, telecoms or general internet failure; or

(h) any labour disputes, including but not limited to strikes, industrial action or lockouts;

20.3 For the avoidance of doubt, we shall not be in breach of this Agreement, nor liable for any failure or delay in the performance of any other obligations under this Agreement arising from or attributable to any of the circumstances giving rise to a right to termination under this Agreement.

20.4 We may at any time and without liability to you terminate this Agreement including our Services. In such cases, we will endeavor to provide you with not less than fourteen (14) calendar days’ written notice. However, in certain cases, we may terminate your Account, the Services or this Agreement by providing shorter notice or providing notice with immediate effect. No such termination will affect any Instruction given by you which is properly received by us before the date of such notice.

20.5 You may terminate this Agreement or your Account with us at any time by providing us with notice in the manner as we may specify. However, no such termination will affect any Instruction given by you which is properly received by us before the receipt of such notice or any action we may take in relation to your Account before the receipt of such notice.

20.6 On termination of your Account or any Services or the agreement or relationship between you and us:

(a) you will stop using any Services;

(b) all charges, costs and/or expenses due to us or any third parties under this Agreement shall fall due for repayment immediately; and

(c) we may discharge our entire liability with respect to your Account by selling your Assets at your expense and arranging for any credit balance in your Account to you at the earliest time possible and within 15 Business Days from the termination of this Agreement, subject to Applicable Laws and unforeseen processing delays by the banks;

(d) you shall, upon our request (acting reasonably), return, destroy or delete any information or documents received from us, including any copies thereof.

21. INDEMNITY AND EXCLUSION OF LIABILITY

21.1 In consideration of us agreeing to the opening, holding and administering of your Account and/or the provision of Services and facilities by us, you shall (and hereby unconditionally and irrevocably undertakes to and agrees with us and each of their respective officers or any authorised third party) at all times and from time to time and at any time ON FIRST DEMAND duly, punctually and fully indemnify and save harmless us and each of their respective officers, or any authorised third party, from and against any and all actions, suits, proceedings, claims, liabilities, demands, losses, charges, penalties, fees, fines, debts, interests, damages, expenses and costs (including all costs on a solicitor client basis) of whatever nature as may at any time or from time to time be sustained, incurred or suffered by reason of or as a consequence of or arising out of your breach of the terms or us having to act on your instructions or any third party rights including copyright, proprietary, privacy or intellectual property rights.

21.2 You further agree to fully indemnify and save harmless us for all and any actions, losses, damages, liability, claims, costs, charges or other expenses which we may howsoever incur or be subjected to in relation to our functions and Services provided and including but not limited to in connection with:-

(a) any unauthorised instructions or other instructions and data from you or purporting to be from you that might be transmitted or any instructions or such other instructions and data being inaccurate, garbled or incomplete;

(b) the recovery of or attempt to recover by us from you of any monies due to us or the enforcement by us of the terms and conditions herein or any amendments, additions, modifications, variations whatsoever of the same;

(c) any change in any law, regulation or official directive which may have a material adverse effect on us, our Services or any amendments, additions, modifications, variations whatsoever of the same; and

(d) any breach by you of any of your representations, warranties and obligations herein and/or pursuant to the terms and conditions herein or any amendments, additions, modifications, variations whatsoever of the same.

21.3 This indemnity shall continue in full force and effect and shall continue to subsist hereafter notwithstanding the suspension, termination or closure of any or all your Services with us and shall be binding upon the personal representatives, successors-in-title and permitted assigns of you.

22. LIMITATION OF LIABILITY

22.1 We and/or our representatives, which shall include our employees and agents, information providers and licensors, shall not be answerable or liable to you or any third party whether in contract, tort or otherwise for any loss damage, expense, liability, cost or claim whatsoever and howsoever caused, any direct, indirect, consequential or incidental loss (including but not limited to loss of profits, trading and other losses) arising out of or in connection with our failure, neglect or omission to carry out or execute any order or instruction given by you (even if us has been advised on the possibility of such loss or damage or claim).

22.2 Notwithstanding any loss or damage that you might incur for any reason whatsoever (including, without limitation, all damages referenced above), the total aggregate liability of us and any of our employees, officers or agents in connection with your exclusive remedy for all the foregoing shall not exceed the fees paid by you to us during the six (6) months immediately preceding your first written claim in relation to the loss or damage. Any such claim must be made no later than thirty (30) days from when the event giving rise to liability first occurred.

22.3 Parties agree that notwithstanding any provision of the law to the contrary, no action, regardless of form, arising out of or in connection with our Services or the terms and conditions herein, may be brought by you against us more than one (1) year after the cause of action has accrued.

23. NOTICES

23.1 All notices, demands or other communications required or permitted to be given under this Agreement (“Notices”) shall be sent as follows:

(a) in the case of a Notice to you, to the email address indicated by you at Account Opening or edited subsequently through the “Change of E-mail procedure” on the KDI Platform or by posting a Notice on the KDI Platform; and

(b) in the case of a Notice to us, by email to digitalinvesting@kenanga.com.my.

23.2 You are deemed to receive the Notice sent by us upon the earlier of:

(a) receipt of the Notice by you on the KDI Platform;

(b) receipt of the Notice by you through your email address; or

23.3 We are deemed to receive the Notice sent by you on the date upon which it is sent, unless it is sent after 5.00 pm on a Business Day or at any time on a non-Business Day in which case it will be deemed to have been received on the next following Business Day.

23.4 You must promptly inform us in writing of any change in your mailing address, fax number and/or email address for communication or any of your relevant particulars available in our records and send us all supporting documents we require. We will need a reasonable time period, not being less than seven (7) Business Days from receipt, to act and effect the change in our records, after which, we may rely on the change.

24. CHANGES TO THE AGREEMENT

24.1 We shall be entitled at any time and from time to time to vary, amend, add, review, supplement, substitute or replace all or any of the terms and conditions herein by way of notification to you to the extent that is applicable and relevant to you or post the updated terms and conditions in the https://digitalinvesting.com.my/.

24.2 No change to the terms and conditions herein proposed by you shall bind us unless agreed to in writing by us shall be applicable to all our Services (without limitation) and you shall be bound by the said Terms.

24.3 By continuing to maintain your Account(s) at us and/or by subscribing for any of our Services, you is deemed to have accepted and agreed to, at all material times, all our prevailing terms and conditions for such account(s) and Services as amended or supplemented from time to time.

25. SEVERABILITY

Any term, condition, stipulation, provision, covenant or undertaking in the terms which is illegal, void, voidable, prohibited or unenforceable for any reason whatsoever shall be ineffective to the extent of such illegality, voidness, voidability, prohibition or unenforceability without invalidating the remaining provisions hereof and any such illegality, voidness, voidability, prohibition or unenforceability shall not invalidate or render illegal, void or unenforceable any other term, condition, stipulation, provision, covenant or undertaking herein contained.

26. CONFLICTS OF INTEREST

26.1 You agree that there may be circumstances when we or our affiliates may:

(a) enter into agreements with intermediaries;

(b) act in such capacities;

(d) provide services to others,

whose interest may conflict or compete with yours, or otherwise be placed in a position of conflict (“Conflicted Transactions”).

26.2 You consent and agree that we and/or our affiliates may continue to enter into such Conflicted Transactions.

26.3 You agree that we may receive such other remuneration, profit, fees, commissions, discounts and/other benefits arising from such Conflicted Transactions.

27. GENERAL

27.1 Further Assurance. You shall execute such other documents, do such acts and things and take such further actions as may be reasonably required or desirable to give full effect to the provisions of this Agreement and the transactions hereunder and you shall use your best endeavors to procure that any necessary third party shall execute such documents, do such acts and things and take such further actions as may be reasonably required for giving full effect to the provisions of this Agreement and the transactions hereunder.

27.2 Variation. We shall be entitled to, by posting an updated version of this Agreement at https://digitalinvesting.com.my/account-opening-agreement/ to supplement, vary and/or modify the terms of this Agreement at any time and such supplement, variation and/or modification shall take effect from the date the Agreement is posted at https://digitalinvesting.com.my/account-opening-agreement/ or emailed to you, or any other date specified by us. You agree that it shall be your responsibility to review this Agreement regularly. If you do not accept any such supplement, variation and/or modification, you shall immediately discontinue operating your Account and/or utilizing the Services provided by us and promptly close your Account and terminate this Agreement. If you continue to use the account and/or utilise the Services provided by us after such notice, you are deemed to have agreed to such supplement, deletion, variation and/or modification without reservation.

27.3 Assignment and Novation for Merger, Reconstruction or Transfer. You agree and acknowledge to any assignment and/or novation or transfer as may be effected on this Agreement and any other agreement, document, assurance and guarantee in connection therewith or with your Account and/or any of your account(s) with us and/or any facilities and services available thereunder or securing your obligations thereunder, and irrevocably agree that we are entitled to and may assign or transfer to a transferee all or some of our rights, title, interests, benefits, obligations and liabilities under this Agreement and/or under any instrument(s) and/or any other agreement, document, assurance and/or guarantee in connection therewith and/or with your Account and/or any of your account(s) with us and/or any facilities and services available thereunder and/or securing your obligations thereunder. You further irrevocably and unconditionally agree that any such novation, assignment or transfer may be effected by our delivering to you of a notice to that effect.

27.4 Entire Agreement. This Agreement and the documents referred to in this Agreement which includes the opening of account documents collectively embody the entire terms and conditions agreed upon by you and us as to the subject matter of the same and supersedes and revokes in all respects all other documents, agreements, letters of intent, and undertakings entered into between you and us, whether such be written or oral, with respect to the subject matter hereof. All provisions of this Agreement shall so far as they are capable of being performed or observed continue in full force and effect notwithstanding completion of the matters set out therein except in respect of those matters then already performed and except where expressly stated to the contrary. This Agreement shall be binding on and shall endure for the benefit of each of your and our successors in title or legal personal representatives.

27.5 Survival on Termination. All disclaimers, indemnities and exclusions in this Agreement shall survive the termination of this Agreement.

27.6 Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of Malaysia and the parties hereby irrevocably agree to submit to the non-exclusive jurisdiction of the Courts of Malaysia and waive any objection to any legal actions or proceedings arising out of or in connection with the terms in any such court on the grounds that such action or proceedings have been brought in an inconvenient or improper forum.

27.7 You agree that your information may be made available, without limitation to:

(a) the Kenanga group of companies, our agents, affiliates or advisors, custodian/sub-custodian’s agent’s or advisors, insurers, brokers, underwriters, reinsurers, outsource service providers, guarantors or security providers, rating agencies, your advisors (including but not limited to accountants, auditors, lawyers, financial advisors or other professional advisors) where authorized by you;

(b) any other person notified by you as authorized to give instructions or to use the account(s) / facility(ies) or products or services on your behalf;

(c) any third party as a result of the acquisition or sale of any company by Kenanga Group of Companies (provided that any recipient uses your information for the same purposes as it was originally supplied to KIBB and/or used by KIBB);

(d) in connection with any regulatory report, audit or inquiry;

(e) to the extent reasonably required for the performance of its obligations under these Terms;

(f) the Securities Commission, Foreign Exchanges’ and/or all relevant and applicable authorities/regulators. pursuant to a subpoena or order of a court, and/or pursuant to any law.

We shall deal with your Personal Data in accordance with its Personal Data Protection Notice made available at https://digitalinvesting.com.my/privacy-policy/. You shall not hold us liable for any inadvertent disclosure of any of your Personal Data and information whether inadvertently disclosed by KIBB or any third party appointed by KIBB.

27.9 In the event you provide us with the Personal Data of other individuals, including information relating to your next of kin or information relating to its directors, authorized signatories, individual shareholders, officers, security providers, you represent and warrant that you has obtained (or will obtain) their consent :

(a) for their Personal Data to be provided to, processed and used by us;

(b) for us to disclose the said Personal Data to Kenanga group of companies; and/or

in connection and pursuant to these terms and conditions.

27.10 You agree to update us in writing if there is any change to the Personal Data of these individuals provided to us.

27.11 You further agree for us and the credit reporting agencies to obtain and/or disclose any Credit Information (as defined under the Credit Reporting Agencies Act 2010 including information in the database systems of Bank Negara Malaysia (“BNM”) known as CCRIS and DCHEQS) relating to you, your security provider(s) and/ or any other third party (“Data Subjects”), from and/or to the credit reporting agencies, BNM or any source deemed appropriate, for the purpose including but not limited to the opening of your, credit assessments on the Data Subjects, Client’s Account monitoring and review, debt recovery and any other purposes for the maintenance of your Account with KIBB.

27.12 You further represent and acknowledge that you have not offered, provided, given, issued, presented or instructed for any form of financial or non-financial remuneration, gift, benefit, reward and/or gratification of whatsoever form or type to any individual, employee, officer, manager, director or shareholder of KIBB and its group of companies or any other person having any influence on the decision making of KIBB or any of their spouse(s), children, siblings, parents or those persons defined as “Relative’ in the Malaysian Anti-Corruption Commission Act 2009 either as “quid pro quo” exchange or as preferential reward for the opening of the Client’s Account(s). In the event you have been approached by any employee, manager, director or shareholder or any other person having any influence on the decision making of KIBB, who is seeking some form of financial or non-financial reward, gift, present, commission for themselves in connection with the Client’s Account, you shall:-

(a) not accept, participate or be involved in any way whatsoever in any manner or form of function with such an approach; and

(b) immediately report such incidents via https://www.kenanga.com.my/contact-us/speak-up and/or any other platform as notified by KIBB from time to time.

Schedule 1

"Account”	means your trust account set up for you pursuant to this Agreement;
"Affiliates”	has the meaning ascribed to it in Clause 19 this Agreement;
"Applicable Laws"	means all applicable local or foreign laws, applicable statutes, rules, acts, regulations, subsidiary legislation notices, notifications, circulars, by-laws, policies, orders, licence conditions, directions, requests, requirements, guidelines, directives, codes, information papers, practice notes, demands, guidance and/or decisions of any national, state or local government, any agency, exchange, regulatory or self- regulatory body, law enforcement body, court, central bank or tax revenue authority or any other authority whether in Malaysia or elsewhere, whether having the force of law or not, as maybe amended from time to time;
"Assets”	means all monies, cash, securities, or other financial instruments or products, and other properties, including all your Investments held with us or through us;
"Asset Allocation”	has the meaning as defined in Clause 4 of this Agreement;
"Business Day"	means a day, other than a Saturday or Sunday or Public Holiday, on which we are open for business (from 9am to 5pm Malaysia time), and in the context of Instructions and Transactions involving a foreign element, a day, other than a Saturday or Sunday, when we and the relevant financial markets and institutions in the country concerned are open for business;
Custodian	means Pacific Trustee Berhad or any other trustee/custodian which may be appointed from time to time;
“FSA”	means the Financial Services Act 2013;
“Goal”	means the financial objective of your investment decision;
"Instructions"	means any communication, instruction, order, message data or information received by us through or pursuant to the KDI Platform or otherwise referable to your User Access, and any information delivered to us offline by any methods as we may agree;
"Investments"	means any securities or financial instruments which we may purchase or sell on your behalf pursuant to this Agreement;
“KDI Platform”	means the hardware, software, digital communication links including our online platforms such as our website and/or mobile applications or other relevant instruments operated by us for the purpose of providing you Services pursuant to this Agreement;
"Personal Data"	has the meaning as defined in the Personal Data Protection Act 2010 of Malaysia;
“Risk Profile”	means an evaluation of your willingness and ability to take risks for the purpose of determining a suitable investment asset allocation;
“SC”	means the Securities Commission Malaysia;
"Services"	means any services provided by us pursuant to this Agreement;
"Transactions"	means transactions in such Investments carried out on your behalf pursuant to this Agreement; and
“User Access”	means any user identification, passwords and other security credentials assigned to you and required to access and use the KDI Platform using your Account.

Schedule 2

Overseas Investment Products Risk Warning Statement

An overseas-listed investment product* is subject to the laws and regulations of the jurisdiction it is listed in. Before you trade in an overseas-listed investment product or authorise someone else to trade for you, you should be aware of:

● The level of investor protection and safeguards that you are afforded in the relevant foreign jurisdiction as the overseas-listed investment product would operate under a different regulatory regime.

● The differences between the legal systems in the foreign jurisdiction and Malaysia that may affect your ability to recover your funds.

● The tax implications, currency risks, and additional transaction costs that you may have to incur.

● The counterparty and correspondent broker risks that you are exposed to.

● The political, economic and social developments that influence the overseas markets you are investing in.

These and other risks may affect the value of your investment. You should not invest in the product if you do not understand or are not comfortable with such risks.

*An “overseas-listed investment product” in this statement refers to a capital markets product that is listed for quotation or quoted only on overseas securities exchange(s) or overseas futures exchange(s) (collectively referred to as “overseas exchanges”).

This statement does not disclose all the risks and other significant aspects of trading in an overseas-listed investment product. You should undertake such transactions only if you understand and are comfortable with the extent of your exposure to the risks.
You should carefully consider whether such trading is suitable for you in light of your experience, objectives, risk appetite, financial resources and other relevant circumstances. In considering whether to trade or to authorise someone else to trade for you, you should be aware of the following:

Differences in Regulatory Regimes

1. Overseas markets may be subject to different regulations, and may operate differently from approved exchanges in Malaysia. For example, there may be different rules providing for the safekeeping of securities and monies held by custodian banks or depositories. This may affect the level of safeguards in place to ensure proper segregation and safekeeping of your investment products or monies held overseas. There is also the risk of your investment products or monies not being protected if the custodian has credit problems or fails. Overseas markets may also have different periods for clearing and settling transactions. These may affect the information available to you regarding transaction prices and the time you have to settle your trade on such overseas.

2. Overseas markets may be subject to rules which may offer different investor protection as compared to Malaysia. Before you start to trade, you should be fully aware of the types of redress available to you in Malaysia and other relevant jurisdictions, if any.

3. Overseas-listed investment products may not be subject to the same disclosure standards that apply to investment products listed for quotation or quoted on an approved exchange in Malaysia. Where disclosure is made, differences in accounting, auditing and financial reporting standards may also affect the quality and comparability of information provided. It may also be more difficult to locate up-to-date information, and the information published may only be available in a foreign language.

Differences in legal systems

4. In some countries, legal concepts which are practiced in mature legal systems may not be in place or may have yet to be tested in courts. This would make it more difficult to predict with a degree of certainty the outcome of judicial proceedings or even the quantum of damages which may be awarded following a successful claim.

5. The Securities Commission Malaysia will be unable to compel the enforcement of the rules of the regulatory authorities or markets in other jurisdictions where your transactions will be effected.

6. The laws of some jurisdictions may prohibit or restrict the repatriation of funds from such jurisdictions including capital, divestment proceeds, profits, dividends and interest arising from investment in such countries. Therefore, there is no guarantee that the funds you have invested and the funds arising from your investment will be capable of being remitted.

7. Some jurisdictions may also restrict the amount or type of investment products that foreign investors may trade. This can affect the liquidity and prices of the overseas- listed investment products that you invest in.

Different costs involved

8. There may be tax implications of investing in an overseas-listed investment product. For example, sale proceeds or the receipt of any dividends and other income may be subject to tax levies, duties or charges in the foreign country, in Malaysia, or in both countries.

9. Your investment return on foreign currency-denominated investment products will be affected by exchange rate fluctuations where there is a need to convert from the currency of denomination of the investment products to another currency, or may be affected by exchange controls.

10. You may have to pay additional costs such as fees and broker’s commissions for transactions in overseas exchanges. In some jurisdictions, you may also have to pay a premium to trade certain listed investment products. Therefore, before you begin to trade, you should obtain a clear explanation of all commissions, fees and other charges for which you will be liable. These charges will affect your net profit (if any) or increase your loss. Counterparty and correspondent broker risks Transactions on overseas exchanges or overseas markets are generally effected by your Malaysia broker through the use of foreign brokers who have trading and/or clearing rights on those exchanges. All transactions that are executed upon your Instructions with such counterparties and correspondent brokers are dependent on their respective due performance of their obligations. The insolvency or default of such counterparties and correspondent brokers may lead to positions being liquidated or closed out without your consent and/or may result in difficulties in recovering your monies and assets held overseas.

Political, Economic and Social Developments

11. Overseas markets are influenced by the political, economic and social developments in the foreign jurisdiction, which may be uncertain and may increase the risk of investing in overseas-listed investment products.

12. You acknowledge that you have received a copy of the Risk Warning Statement and understand its contents.