Fintech State in Malaysia
Revisiting my post on klse.my
Last week, I posted an article on my view on the recent closure of the klse.my website. It was merely just an expression of thought as a website that I used to rely on a lot for my stock research is no longer available to me. But to my surprise, I received several other comments from people who share my view in the blog post, and some even sent me emails to share ideas and their view on this. I even heard from a colleague that this event was covered in a local newspaper but I’m not sure which site was it.
I also read from the various feedback that a site like klse.my would require about RM 10k per month to operate to pay for the license fee to bursa and its hosting provider. To a large company like bursa, this amount is nothing. But I can understand that to a small startup or website owners, this may be a hindrance for the team to continue to operate.
Someone suggested raising fund from the public so the website could continue to operate. I’m not sure if owners of klse.my are still keen to operate given this setback from bursa. However, it is certainly an idea they can explore:
(1) klse.my can consider to accept contributions from public. The amount can be arbitrary and up to individual investor, but I believe it should be in the range of RM100-RM1000 to represent a meaningful contribution. It is like an investor paying to buy an investing tool in the market, or attending a training course.
(2) klse.my can consider to sell a "lifetime membership" to continue to provide good features and reports based on the data in the portal.
It is like a crowd funded project, but applicable to our local traders and investors community. This is not just limited to klse.my. Other websites could use the similar model to operate as well.
It is just an exploration of idea. Not sure if it will even work or the public’s reception on this kind of model in Malaysia. For me, I will have no doubt to support a portal I like using this model.
Anyway, it is the Raya week. I’m just planning to have a good long break. Happy holidays everyone!
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8 people like this. Showing 10 of 10 comments
pls read from head to tail to follow the entire agenda..
you can raise ques after U done so
2016-07-04 14:11
option2 will be a better idea, cuz it should be annual fee instead of lifetime membership. Since bloody bursa is asking for money yearly not 1 time off, i presume?
But, of course, if this could be done through proper crowd funding will be good to ensure this project is going to succeed surely and certainly.
2016-07-04 21:28
The domain is registered to Brian Ng whose office is at Plaza Mont Kiara. You might be able to reach him at admin@klse.my or 03 27883555 to show support and intention for paid services. I think if they know that enough people are willing to pay, they can setup a subscription system.
2016-07-05 09:15
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I will donate and subscribe to KLSE.my paid service too.
2016-07-04 12:59