Dear Valued Clients,
Please be informed that effective 6 November 2026, a stamp duty charge of RM10 will apply to each new account opening for cash investments with Phillip Mutual Berhad (“PMB”) or third-party Unit Trust Management Companies (“UTMCs”).
The stamping of relevant account opening documentation is undertaken in compliance with the applicable requirements under the Stamp Act 1949 [Act 378]. The RM10 stamp duty charge therefore forms part of the applicable statutory requirements and is not an administrative fee introduced by PMB.
The RM10 stamp duty applies to each new account opening for cash investments with PMB or third-party UTMCs, whether the new account is:
This includes a new account opened by an existing client under a different account holding structure, such as an existing individual account holder opening a new joint account, and vice versa.
For avoidance of doubt, the RM10 stamp duty applies to the new account opening only and is not charged on each subsequent investment or transaction made under an existing account.
At present, PMB’s RM10 stamp duty collection does not apply to investments in third-party EPF funds and third-party PRS funds.
For new account openings for cash investments through FAME or eUnitTrust (eUT), the account-opening process is completed electronically and no physical account opening form is required. However, the RM10 stamp duty remains applicable to the new account opening.
The RM10 stamp duty will be deducted from the client’s initial investment amount. The initial investment must therefore be sufficient to cover the RM10 stamp duty while ensuring that the remaining investment amount meets the applicable minimum investment requirement.
Where deduction of the RM10 stamp duty would result in the remaining investment amount falling below the applicable minimum investment requirement, no units will be booked until the required shortfall has been received.
PMB appreciates your understanding and cooperation.
For further information or assistance, please contact PMB or your respective consultant or financial planner.
Phillip Mutual Berhad