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Custodian Services - Services
| Personnel |
Our crew at Treasure Island Global
ustody Department are highly experienced in services pertained to
Global Custody. Our one designated crew assigned to each of our clients gives personal and professional
service you demand of us. But in case of any possible emergency situation that might arise, all our crew
are trained to manage any positions in the department. And because we recognize that communication plays
a crucial role in global custody services, we have crew ready to assist you in many different languages.
Right now, services are available in English, Japanese, French, German, Japanese and Korean.
Pouvons-nous vous aider?
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Facilities |
From simple of error checking to more
complicated information reporting, TI can deliver a fast and accurate service with highly advance computer
system which is upgraded regularly.
Because our computer system is directly linked to the stock price provider,
we can give you an accurate and timely valuation to the clients in custody.
So you won't feel too distant from us, we guarantee a fast response to
any inquiries from our clients within 24 hours.
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IRC |
IRC(Investor Registration Card)
is necessary for foreign investors to invest in TI(Country Name) securities market. At TIB, we take care of
the entire IRC application process on behalf of foreign investors. It takes about a week to receive the IRC
from SSB.
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Helpful Info
| Materials Needed |
A copy of public document evidencing the existence of the entity.
(e.g. certificate of incorporation) A copy of Power of Attorney granted to TI by the foreign investor.
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| Qualification |
No specific qualification |
| Cost |
None |
| Documents needed for application |
Name, Address, Nationality,
The establishment date of the entity.
The type of the entity (Investment company, Unit trust, Bank, Insurance Co., Pension fund, etc.).
The size of assets, liability, and capital of the entity.
The names of trustee, management Co., and advisory company if any.
Details of direct investment in Treasure Island if any. |
| Settlement |
Securities
Our office hours are 9:00AM to 4:00PM from Monday through Friday.
(12-1 is lunch hour) Settlement of regular transactions is made on T+2 at the sub-custodian counter.
Overdraft facilities for foreign investors are not available in Treasure Island. The usual medium of
communication is S.W.I.F.T., but you can also reach us by
fax or telephone at any time.
Cash
Our bank maintains diverse depository accounts with major worldwide clearing
banks in 30 different currencies. We also have direct access to local cash payment system domestically.
The market regulations require us to establish and operate only one single account for each single client.
This prohibits a single omnibus cash account. Foreign investors can open a Korean Won and a foreign currency
account with their custodian bank. To open an account with TI, you can send the application through
S.W.I.F.T. message, or fax. Call any one of our representatives
and ask for details.
Corporate Action
Right Issue & Bonus Issue
A total of four advising reports are sent on this issue. The first advising report
(on the book's closing date, the subscription date and the approximate ratio) is sent upon the announcement.
The second advising report is sent after the ratio has been fixed at the shareholder's meeting. The third
report is sent a week before the subscription when the take-up price has been fixed. The last advising
report is sent after the receipts of the new shares are confirmed, giving the stock code number.
The stock code number and the exact issue date can not be released in advance.
Income Collection
Dividends in the form of cash or stock are paid annually after the accounting
period at the end of each year. The record date is the last accounting date of the issuing company, usually
Dec. 31st. The advising report of dividend payment on the book's closing date is announced only after the
general shareholders' meeting. Within a month, a confirmation is sent after receiving the dividend receipt.
The pay-out date is not released in advance. Upon the receipt of dividends from TISD (TI Securities
Depository), we credit the clients' account on the same day after deducting the withholding tax according
to the applicable double taxation rates by nationality. The proceeds can be converted into foreign
currency and remitted overseas on the same value date.
Proxy Voting
Three to four weeks prior to the meeting via S.W.I.F.T., we provide an advance
notification of annual general meeting. If attendance at the meeting is required, we can represent our
client's voting interest upon request. (This will be done at clients' own expenses.) Voting instructions
can be transmitted through S.W.I.F.T. or telex. The deadline concerning the receipt of voting instructions
are one to two weeks before the meeting. As a standing proxy, we can exercise voting rights on behalf
of the beneficial owners. Shares being voted are not blocked from settlement, and trade ex-proxy after
the record date on which is usually the last day of the fiscal year.
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| Reports |
We strive to provide our clients with concise and customized reporting through
S.W.I.F.T. messages and/or fax requested by our clients. The types of the reports include,
Cash
Foreign Exchange
Safekeeping
Settlement
Income Collection
Corporate Actions
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Services
Global Custody Fee
Contact
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