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1. INTRODUCTION AND APPLICATION

1.1 This Platform Terms and Conditions (“Agreement”) constitutes a legal agreement between you and Versa Asia Sdn. Bhd. (Company No. 201901041105 (1350435-T)) (“Versa”).

1.2 By accessing or using our Platform, you are taken to have agreed to the terms and conditions under this Agreement.

2. DEFINITIONS

2.1 In this Agreement, where the context so admits, the words and expressions used in this Agreement shall have the following meaning:

“Access Method” means any user identification, passwords and other security credentials assigned to you and required to access and use the Platform;

“Account” means any account which Versa Asia Sdn Bhd has set up for you and granted to you pursuant to any agreement;

“Active Account” means user accounts which are not closed (voluntarily or otherwise);

“AHAM” means AHAM Asset Management Berhad, a Capital Market Services License (CMSL) Holder;

“Applicable Laws” means all applicable local or foreign laws, rules, acts, regulations, subsidiary legislation, notices, notifications, circulars, 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 (including any intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions or otherwise), as may be amended from time to time;

“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 Malaysian 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;

“Customer” means any person or persons who hold(s) and operate(s) an Account with Versa and AHAM;

“Cut Off Time” refers to day and time where autodebit transaction will be processed before the autodebit transaction date; 

“Instructions” means any communication, instruction, order, message data or information received by us through or pursuant to the Platform or otherwise referable to your Access Methods, and any information delivered to us offline by any methods as we may agree;

“New User” means a user who has no existing Versa account or a closed Versa account.

“Personal Data” has the meaning ascribed to it in the Malaysian Personal Data Protection Act 2010;

“Platform” means the online platform(s) operated by Versa;

“Privacy Policy” means the policy on the privacy and protection of Personal Data adopted by us as made available, as may be supplemented, amended or varied from time to time upon our notification to you;

“Service” means any service provided by us through the Platform; 

“System” means the hardware, software and telecommunication links or any part thereof used from time to time for the purpose of providing, supporting, accessing and/or otherwise referable to the Platform; 

“Versa” refers to Versa Asia Sdn Bhd, an e-services platform operator; and

“Versa App” refers to Versa’s mobile application.

2.2 The words “we”, “us”, “our” or any of their derivatives refer to Versa and its successors and any novatee, assignee, transferee or purchaser of Versa’s rights and/or obligations hereunder and any reference to Versa includes a reference to such successor, novatee, assignee, transferee or purchaser.

2.3 The words “you”, “your”, “yours” or any of their derivatives refer to the person using or accessing our Platform and shall include, as the context may require, personal representatives (as the case may be).

3. YOUR DUTIES AND RESPONSIBILITIES

3.1 Information required. Upon request, you shall provide a valid email address, a password, and answers to security questions (or any other information we may request in order to establish the appropriate Access Methods), which are necessary for you to gain access to restricted areas of the Platform.

3.2 Provision of information by you. We may require additional information, confirmation or declaration from you each time you access the Platform or certain parts or areas of the Platform, and you shall provide such information, confirmation or declaration promptly. You represent and warrant that each information, confirmation or declaration you provide to us is accurate, true and complete, and not misleading in any material particular.

3.3 Security measures. Your access and use of the Platform shall be strictly limited to yourself. You agree that:

(a) we may determine the appropriate Access Methods, which may involve a combination of one or more access controls;

(b) you shall be solely responsible for ensuring secure internal and, to the fullest extent possible, external controls on access to and use of the Platform, including but not limited to the security and confidentiality of your Access Methods (such as your password and answers to security questions). We shall be entitled to terminate or suspend your Access Methods if we are notified or suspect that your Access Methods have been stolen, lost, damaged, compromised or there has been unauthorised use of them, provided always that you shall remain responsible for any actions taken through the use of your Access Methods before they are so terminated or suspended; and

(c) you shall be solely responsible for, and be bound by, all acts or omissions of any person using the Platform through your Access Methods. We are under no duty of inquiry regarding the identity, authority or capacity of any such person and are entitled to rely on any Instructions submitted by any person accessing or using the Platform through your Access Methods or through alternative methods, even if made fraudulently and even if they conflict with the terms of any other Instructions given by you.

3.4 Compliance with Applicable Laws. You shall access and use the Platform in compliance with all Applicable Laws. Without limiting the generality of the foregoing, your use of the Platform shall be subject to such additional restrictions, terms and conditions of use, disclosures or disclaimers that may be communicated to you (whether by written or electronic means) in connection with such use.

3.5 Suspected breach of security. You must notify us immediately if you become aware of or have reasonable suspicion that there is any breach of security, loss, theft or unauthorised use of your Access Methods.

3.6 Keeping the integrity of the Platform. You shall not introduce into the Platform any content, materials or code which contains any virus, Trojan horse, work, time bomb, cancelbot or other computer programming routines that are intended to damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or Personal Data. You undertake not to back into, disrupt, disable, burden or otherwise interfere with the accessibility or impair the proper function of the Platform, the services which we may provide to you pursuant to any agreement or the Systems, which shall include, without limitation, spoof attacks, backing, sniffing, tampering, denial-of-service attacks, tampering, reverse engineering or reprogramming.

3.7 Your duties. Any data, information or message transmitted to you through our System, the Platform or otherwise is confidential and intended for the sole use of the intended recipient. If you are not the intended recipient, you should immediately notify us and delete or destroy such data, information or message, including all copies thereof.

3.8 Confidentiality of other information. You must keep confidential, all information about the Platform, our System and any information, data, materials or documents provided to you.

3.9 You agree to access Versa’s official website at https://versa.com.my/ on a regular basis to view and keep up-to-date on the latest Terms and Conditions. Users shall seek clarifications from Versa should any of the Terms and Conditions be not fully understood. 

3.10 Users are responsible to and shall personally bear all applicable taxes, rates, governments fees or any other changes that may be levied against the Users under the applicable laws, if any, relating to or arising from the utilisation of Versa’s services and Platform. 

4. INSTRUCTIONS

4.1 You agree to the following:

(a) unless otherwise agreed by us, all Instructions shall be transmitted by you to us through the Platform in the manner as we may specify on the Platform or by notice to you;

(b) we shall be deemed to have properly received Instructions transmitted by you through the Platform only upon such Instructions being received by our System hosting the Platform. For any other Instructions received by us after the close of business on a Business Day or on a non-Business Day, we may, in our sole discretion, treat such Instructions as an Instruction received on the next Business Day;

(c) you are responsible for the accuracy and completeness of your Instructions;

(d) we are under no duty of inquiry regarding the identity, authority or capacity of any person from whom we receive Instructions on your behalf, and are entitled to rely on any Instructions submitted by any person accessing or using the Platform through your Access Methods, even if made fraudulently and even if they conflict with the terms of any other Instructions given by you;

(e) without prejudice to sections 3.3(c) and 4.1(d), we may at our discretion and without giving any reason, and without any liability to you:

(i) require you to provide alternative proof of identity;

(ii) require any Instructions to be confirmed through alternative means;

(iii) decline to act or refrain from acting promptly upon any Instructions; and/or

(iv) determine the order of priority in effecting any Instructions and other existing arrangements you have made with us.

4.2 We reserve the right to terminate, suspend or restrict your access to the Platform and to cease acting on your Instructions if we suspect that the person logged into your Account is not you, where we suspect that your Account is or will be used for illegal, fraudulent or unauthorised uses, or for any other reason which we deem to be reasonable.

5. OUR RIGHTS

5.1 Monitoring of access and use. We may monitor all your access to and use of Platform so as 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.

5.2 Right of termination. We reserve the right to restrict, temporarily or permanently, the operation of the Platform 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 breached the terms of this Agreement;

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

(c) you are using the Platform for any illegal activities or where we have reasonable suspicion that you may be doing so;

(d) we become aware or suspect that your Access Methods are stolen, lost, damaged or compromised;

(e) we become aware or suspect that the person logged into using your Access Methods is not you,

(f) we are required to do so by Applicable Laws or pursuant to a request by any government or regulatory body;

(g) scheduled downtime or recurring downtime;

(h) a Force Majeure Event;

(i) you publish, post, transfer, distribute or upload any content or information to the 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;

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

(k) 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 Platform.

5.3 For the purpose of section 5.2 of this Agreement, “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 the offering of the Platform thereto, 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 or 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 expropriation, nationalisation or compulsory acquisition or acts claimed to be justified by executive necessity;

(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 or water; or

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

5.4 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 restrict (temporarily or permanently) under section 5.2 of this Agreement.

5.5 We reserve the right to communicate with you through various channels for onboarding, marketing communications, and other relevant purposes. This may include, but is not limited to, email, messaging within the Platform, messaging via a third party channel or other electronic means. You acknowledge and agree to receive communications through the channels determined by us. 

5.6 Versa further reserves the right:

a) to make further verifications of Users and request for further personal identification details and/or documents of Users;

b) to amend, vary, modify, add and/or delete any of the Terms and Conditions herein from time to time, in its sole and absolute discretion, as shall be published by Versa on its official website at https://versa.com.my/, which shall be taken as good notice. The latest Terms and Conditions can be found on Versa’s official website as aforementioned. Users’ continued use of Versa’s services following any such amendment, variation, modification, addition and/or deletion shall constitute unconditional acknowledgement, understanding, agreement, and unqualified acceptance of the same in respect of the latest Terms and Conditions.

c) Versa shall not be responsible or held liable in respect of any technical glitches or failures of any kind whatsoever, intervention, interruption and/or electronic or human errors in (a) the administration and/or processing the relevant transactions; (b) the implementation of promotions, campaign and/or giveaway; and/or (c) the determination of the Users’ eligibility for the rewards in promotions, campaigns and/or giveaway.

6. INTELLECTUAL PROPERTY RIGHTS

6.1 The names, images and logos or any other trademarks (“Marks”) identifying us or third parties and their products and services are subject to copyright, design rights and trade marks of us and/or third parties, and all rights to the Marks are expressly reserved by us or the relevant third parties. Nothing contained in this Agreement shall be construed as conferring by implication, estoppel or otherwise any licence or right to use any trademark, patent, design right or copyright of us or any other third party, without the prior written consent of us or such third party. You shall not use our Marks or the Marks of any other third party in any way, including in any advertising or publicity, or as a hyperlink without our prior written consent.

6.2 We, our service providers, agents (or their sub-agents), contractors (or their sub-contractors), delegates, suppliers, and other third parties we may appoint for the operation of this Platform or the provision of services to you and licensors, own and retain all rights, titles and interests in and to: (a) the Platform; (b) all hardware, software, and other items used to provide the services to you; and (c) all materials, including without limitation, the information, databases, data, documents, online graphics, audio and video, in the Platform, which contains proprietary and confidential information that is protected by applicable intellectual property and other laws. Except as expressly authorised by us, you shall not copy, modify, publish, transmit, distribute, perform, display or sell any of our proprietary information. You shall also not decompile, reverse engineer or otherwise attempt to discover the source code of any content available on the Platform except under the specific circumstances expressly permitted by us in writing.

6.3 By submitting, posting or displaying content on or through the Platform, you grant to us a worldwide, non-exclusive, royalty-free licence to reproduce, adapt and publish such content on the Platform for the purpose of displaying, distributing and promoting the Platform or any other services we may provide to you. You further grant to us an irrevocable non-exclusive licence to use such content submitted, posted or displayed, including any ideas, inventions, concepts, techniques or know-how disclosed herein, for any purpose, including the developing and/or marketing of any of our services. We reserve the right to retain an archival record of all such content including those deleted or removed by you.

6.4 In the event that you download any software, applications or script from the Platform, the software, applications or script, including any files, images incorporated in or generated by the software, and data accompanying the software (collectively, the “Software”) are licensed by us to you on a non-exclusive, non-transferable, and non-sublicensable basis for the sole purpose of utilising our services in accordance with this Agreement. For the avoidance of doubt, we are not transferring and do not transfer, title ownership or any other rights to the Software to you. You shall not redistribute, sell, decompile, reverse-engineer, disassemble or otherwise deal with the Software. Any Software downloaded from the Platform shall be at your own risk.

6.5 You shall not imitate, copy, modify, decompile, disassemble, reverse engineer, distribute, disseminate, reproduce, license or create any derivative works from, assign, transfer or sell, in full or in part and in any way, the Platform or any information, data, products or services obtained from the Platform (“Platform Contents”). Unauthorised conduct or use of the Platform or the Platform Contents may violate our or any third party owners’ intellectual property rights and may also be an offence under the Malaysian Computer Crimes Act 1997. You shall be entitled to retrieve and display the Platform Contents on any compatible device owned by you and retain a copy of the Platform Contents for record, provided that you keep intact all accompanying intellectual property rights and other proprietary notices.

6.6 Any persons who made unauthorized publication, reproduction or modification of the contents of the Platform may be subject to legal action. 

7. DISCLAIMERS AND LIABILITIES

7.1 The Platform is provided “AS IS” on an “IS AVAILABLE” basis without any representations or any kind of warranties whatsoever (whether expressed or implied by law). We and our licensors disclaim to the fullest extent permitted by Applicable Laws all express, implied and statutory warranties, including without limitation, the warranties as to functionality, operability, accessibility, accuracy, correctness, reliability, up-to-dateness, timeliness, satisfactory quality, merchantability, fitness for a particular purpose, and non-infringement of proprietary rights. Without limiting the foregoing, we do not warrant that our services, functions contained in or access to the Platform, or other content will be timely, uninterrupted or error-free without omission, that defects will be corrected, or that the Platform or its contents are free of infection by computer viruses and/or other harmful or corrupting code, programme, macro and such other unauthorised software, or that the download, installation or use of any System or content of the Platform in or with any computer will not affect the functionality or performance of the computer. We are not responsible or liable for the deletion or failure to store any content maintained or posted by or through the Platform.

7.2 Third party sites. The Platform may contain links to other websites which are not maintained by us. Similarly, other websites may contain links to the Platform. We have no control over such sites and resources, and you acknowledge and agree that we are not responsible for the availability or contents of those websites and shall not be liable for any damages or injury arising from the availability or contents of those websites. Any links to other websites are provided as a convenience to you as a user of the Platform, and does not imply our endorsement of the linked website or association with their operators. We disclaim all responsibility and liability, direct or indirect, for any damage or losses (including any virus, spyware, malware, worms, errors or damaging materials contained in the linked sites) caused or alleged to be caused by or in connection with the use or reliance on any such content available on or through any such site or resource, which are accessed and used at your own risks.

7.3 Assumption of risks. You acknowledge that there are certain security, corruption, transmission error and availability risks associated with using the Platform and agree, to the maximum extent permitted under Applicable Laws, to assume such risks. Without limiting the generality of the foregoing, you acknowledge and accept, given the nature of electronic transactions and electronic telecommunication platforms such as the Platform, the unique risks of using the Platform, which include, but are not limited to, the following:

(a) delays in, or inability to, access or use the Platform due to any hardware, software, system or connection failure, error, malfunction, omission, interruption, delay in transmission or computer virus;

(b) loss, or errors in transmission, of data or information that may occur due to any cause whatsoever, including any failure of any of our electrical, electronic, computer, microprocessor, recording or communication system;

(c) the need to conduct maintenance of the Platform system infrastructure from time to time, and any delay, failure, error or omission which may ensue therefrom; and

(d) the failure of any electronic security measures including, without limitation, filters, authentication processes and anti-virus software, whether or not for the protection of the integrity of the Platform, the privacy of your information or otherwise,

and you agree that we shall not bear any liability or losses of any kind, and you shall release us from any claim you may have, with respect to or referable to the above risks and any losses arising therefrom, regardless of whether we had been advised, or were aware of the possibility, of such risks. You shall assume the entire cost of all necessary servicing, repair, or correction, including any defect, problem or damage in the computer or Systems, if required.

7.4 Exclusion of Liability. To the maximum extent permitted under Applicable Laws and without prejudice to any other rights we may have under this Agreement, you acknowledge and agree that we (and any of our service providers, agents (or their sub-agents), contractors (or their sub-contractors), delegates, suppliers, or other third parties we may appoint for the operation of this Platform or the provision of services to you, directors, officers, employees, subsidiaries, successors or assigns) are not liable to you for any direct, indirect, consequential, incidental, special or punitive losses suffered by you or any third party, whether arising based on a claim in contract, tort (including negligence), breach of statutory duty or otherwise, arising from or in connection with:

(a) any unavailability of the Platform and/or your access or use (or inability to access or use) the Platform;

(b) any failure of our System or Platform;

(c) any inaccuracies contained in information relating to the System;

(d) any failure to receive or delay in receiving Instructions because of any failure of our System or other facilities or the telecommunication links used to transmit the Instructions;

(e) any delay where the contents of an Instruction are ambiguous, incomplete or otherwise inaccurate;

(f) any unauthorised use of the Platform or Access Methods;

(g) any breach of security or unauthorised use of, corruption or transmission error associated with our System or other facilities;

(h) any act or omission of telecommunications carriers, internet service providers or any other service providers;

(i) the exercise of any of our rights under this Agreement;

(j) our reliance on such information submitted to us;

(k) any loss of revenue or business opportunities, loss of profit, loss of anticipated savings or business, loss of data, loss of goodwill or loss of value of any equipment including software; or

(l) any event or circumstance beyond our control.

7.5 Your indemnities to us. To the maximum extent permitted under Applicable Laws and without prejudice to any other rights we may have under this Agreement, you shall indemnify, and shall keep indemnified, us and any of our service providers, agents (or their sub-agents), contractors (or their sub-contractors), delegates, suppliers, or other third parties we may appoint for the operation of this Platform or the provision of services to you, directors, officers, employees, subsidiaries, successors or assigns, against any losses, including expenses and legal or other professional fees for disputing or defending any action, claim or proceeding, which we may incur or sustain (directly or indirectly) or which may be made against us in any jurisdiction as a result of or in connection with or arising out of: (i) your use of the Platform or our services; or (ii) our operation of the Platform or the provision of our services, save where such losses are directly caused by our own gross negligence or wilful default or that of our directors, officers, employees or agents. Without prejudice to the generality of the foregoing, you shall indemnify us for any losses we may incur (directly or indirectly), from:

(a) any breach of, or non-compliance with, this Agreement by you;

(b) any unauthorized use by any party of your Access Methods or the Platform or any part thereof;

(c) any failure or malfunction in your System used in connection with the Platform;

(d) any computer viruses or other malicious, destructive or corrupting code, agent, programme, macros or other software routine or hardware components designed to permit unauthorised access which have been introduced by you, which affects or causes the Platform, our hardware, software and/or other automated systems to fail or malfunction;

(e) any information or documents furnished by you to us, which is or proves to have been incorrect, incomplete or misleading in any material respect when provided, or any omission of material facts and information by you which would render any information relied upon by us to be misleading, inaccurate or incomplete;

(f) the exercise of our rights under this Agreement;

(g) our acting or relying on the Instructions;

(h) your use or failure to use the Platform; or

(i) material comprised in the Instructions or otherwise provided by you violating any Applicable Laws or third party rights, including intellectual property rights.

7.6 You also undertake to procure that, in the event that you transfer all or substantially all of your rights or assets to any other person (whether in the same or any other jurisdiction(s)), you shall procure that such person will indemnify and hold us and our directors, officers, employees and agents harmless on the same terms as those set out above.

7.7 The Investor acknowledges and understands that any loss resulting from trading or investment activities facilitated through our platform as a Recognised Market Operator (RMO) is not covered by the Capital Market Compensation Fund.

8. GENERAL

8.1 Other agreements. This Agreement does not supersede or replace any other consent you may have previously or separately provided to us in respect of your access or use of the Platform, and your consent to this Agreement is in addition to any other rights which we may have in respect of your access or use of the Platform.

8.2 Amendment. Our Agreement may change from time to time. We will post any changes on our website and where the changes are substantial, we may also notify you via email. If you continue to use or access our Platform, you are deemed to have agreed to such changes without reservation.

8.3 Assignment. You shall not have the right to assign any of such rights, undertakings, agreements, duties, liabilities and/or obligations hereunder, except with our written consent. We may assign or transfer any of our rights hereunder to any party without your consent, but subject to prior notification.

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

8.5 Severance. If any provision of this Agreement or part thereof is rendered void, illegal or unenforceable by any legislation to which it is subject, it shall be rendered void, illegal or unenforceable to that extent and no further, and for the avoidance of doubt, the rest of this Agreement shall continue in full force and effect, and the legality, validity and enforceability of the whole of this Agreement in any other jurisdiction shall not be affected.

8.6 No Third Party Rights. A person who is not a party to this Agreement shall have no right under any law, to enforce any provision in this Agreement.

8.7 Governing Law and Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the laws of Malaysia. Any dispute arising out of or in connection with this Agreement and/or the documents referred to herein, will be dealt in accordance with Clause 13 below.

9. ACCOUNT OPENING

9.1 By reading and understanding the contents contained in the account opening agreement and any supplemental thereto, the customer hereby acknowledges and agrees that the customer has entered into a legally binding relationship with AHAM and Versa. The customer further accepts to be bound by the terms and conditions contained in this form, contents of the prospectus/information memorandum/disclosure document and deed of the relevant fund that I/we are investing into, including any supplemental made thereto.

9.2 The relationship between you, AHAM and Versa will be governed by this Agreement. You understand that Versa is a e-services platform operator that arranges or facilitates the sale, purchase or subscription of a capital market product offered by a CMSL holder to investors. Both AHAM and Versa are legal entities governed by the Securities Commissions of Malaysia.

9.3  The services offered by Versa on the Platform are in accordance with the Guidelines and the applicable laws.  Versa is not a registered broker, IUTA or investment advisor and does not conduct any activity that would require such registration.

9.4 Versa does not provide any advice (including but not limited to investment, legal, taxation or other advice) with respect to any aspect of the transactions conducted through the Platform, other than advice on the technical use of the platform. Nothing on the Platform or any communications sent to the customers shall constitute or is intended to constitute advice.

9.5 The customer understands that they are required to further comply with any account opening standards as provided in the account opening agreement by our CMSL partner. For account opening, Versa and AHAM will be carrying out further verification of your identity and you will be required to provide such requested  information on the Platform, including information relating to your Malaysian national registration identification card (MyKad). 

9.5.1 In the event that your MyKad is faulty or you have provided inconsistent and inaccurate information in the MyKad, we will not establish a business relationship with you.  Subsequently, your onboarding information will be deleted and removed from our system and any funds previously deposited with us will be refunded to the bank account used by you during the deposit. 

10. CAMPAIGNS AND PROMOTIONS

10.1 From time to time, we may carry out promotions, campaigns and/or giveaways to new and/or existing users of Versa. Unless otherwise stated, such promotions, campaigns and/or giveaways will be governed by this section. By participating in such promotions, campaigns, and/or giveaways, users expressly agree to be bound by the Agreement herein.  

The terms provided in this section must be read together with the applicable Versa ‘Promotions’ page at https://versa.com.my/versapromotions/ and the respective promotions and/or Quests page on the Platform. Where standalone terms and conditions are available for the promotions, campaigns and/or giveaways, such standalone terms and conditions will prevail over this section. 

Versa Quest

10.2 Versa offers Versa Quest feature to eligible users on the Platform. Versa Quest is a feature which allows users to gain investment boosters and is designed to be tailored to the users’ interest. Due to the nature of Versa Quest, its features may vary in each users’ individual profile.

For the purposes of this section, ‘Versa Quest’ refers to the Versa Quest feature, whereas ‘Quest’ refers to a singular campaign under Versa Quest which the user opts-in to. 

10.2.1 By participating in Versa Quest, you are deemed to have reviewed, understood and unequivocally agree to Versa’s Privacy Notice. In the event you withdrew your consent to marketing communications and/or made qualified acceptance to Versa’s Privacy Notice, please note that we may not be able to offer you certain services under Versa Quest. 

10.2.2 We reserve our right to determine the relevant user group eligible to enroll in the respective Quest(s). Users may be grouped based on but not limited to the following criteria:

  1. Demographic and geographical location;
  2. Financial habits and transaction history on the Platform; 
  3. Lifestyle choices, goals and/or interests; and/or
  4. Behavioural patterns, such as user engagement on the Platform.

Versa approaches such classification responsibly in accordance with the applicable laws and aligns it with its business objective as well as the goals of the Campaign(s).

10.2.3 Subject to clause 10.4 below, eligible users will be able to participate in Quest during the prescribed campaign period as indicated on the Quest page on the Platform (‘Prescribed Campaign Period’). Without prejudice to the provisions of this Agreement, Versa may withdraw and/or forfeit user’s eligibility to the Quest in the event that the user ceases to hold any of the predefined criteria set by Versa for such Quest before the end of Campaign Period. 

10.2.4 To be entitled for the Campaign Reward for Versa Quest, User(s) must opt-in and comply with the illustrated steps and instructions on the Quest page on Versa App and Quest Promotions page on Versa’s website, as the case may be (‘Campaign Mechanics’). If the user(s) fail to comply with the Campaign Mechanics, such user(s) will not be entitled to the Campaign Reward. Campaign Mechanics may include, but not limited to:

10.2.4.1 Cash-ins of Fresh Fund in a specific fund or any funds on the Platform. “Fresh Funds” means additional funds which do not originate or transferred from any existing Versa account(s) and on top of User(s) current balance before the Prescribed Campaign Period;

10.2.4.2 Completion and submission of survey;

10.2.4.3 Reading and comprehension of articles; 

10.2.4.4 Autodebit setup in a specific fund or any funds on the Platform; or

10.2.4.5 Such any other mechanics as determined by Versa from time to time and as indicated on the Platform.

10.2.5 In the avoidance of doubt, Campaign Reward means the reward as stated on the Quest page. Campaign Reward may be in the following forms:

10.2.5.1 Additional percentage of profit rate (Subject to the maximum applicable limit) on predefined Versa Portfolio;

10.2.5.2 Cash credits; 

10.2.5.3 Vouchers of merchants/business partners;

10.2.5.4 Reward points.

10.2.6 Participation in Versa Quest is on a first-come-first-serve basis, and is limited to a fixed number of participants. Once the Campaign Reward in Quest has been fully utilised, Versa’s relevant app pages will be updated to indicate as such accordingly. Users’ account must be active when the Campaign Reward is credited and it may be credited to any Versa funds or in any other manner as determined by Versa, in the following month from the campaign end date or any other rewarding period as specified by Versa. 

10.2.7 Versa is not required to publicly disclose any determination relating to the users’ eligibility for Quest and/or calculations or formula regarding the Campaign Reward. 

Answer & Earn Quest

10.2.8 Where Versa Quest involves ‘Answer & Earn Quest’, participating Users must comply with the following:

  1. User must own a verified and approved Versa account;
  2. User must have the prescribed minimum balance stated in Quest Promotions page (on Versa’s website) in their respective Versa Cash or Versa Cash-i Fund which shall be reflected and maintained throughout the Campaign Period; and
  3. User must within the Campaign Period successfully complete and submit the respective survey under ‘Answer & Earn Quest’ on Versa’s App in accordance with the instructions set out therein.

Learn & Earn Quest

10.2.9 Where Versa Quest involves ‘Learn & Earn Quest’, participating Users must comply with the following:

  1. User must own a verified and approved Versa account;
  2. User  must have the prescribed minimum balance stated in Quest Promotions page (on Versa’s website) in their respective Versa Cash or Versa Cash-i Fund which shall be reflected and maintained throughout the Campaign Period; and
  3. User must within the Campaign Period successfully complete the respective ‘Learn & Earn Quest’ on Versa’s App in accordance with the instructions set out therein.

Auto-Debit Quests

10.2.10 For Versa Quest involving autodebit feature, participating Users must comply with the following:

  1. User must own a verified and approved Versa account;
  2. User  must have the prescribed minimum balance stated in Quest Promotions page (on Versa’s website) in their respective Versa Cash or Versa Cash-i Fund which shall be reflected and maintained throughout the Campaign Period; and
  3. User must, within the Campaign Period, have auto debit plan(s) set up to enable auto debit monthly transaction(s) as per the prescribed minimum value stated in Quest Promotions page on Versa’s website into the specified Versa  Funds.

10.2.11 The Campaign Reward will be calculated based on auto debit transaction(s) which is successfully processed, completed, and invested pursuant to his/her auto debit plan(s) into the intended fund(s) on the 5th day of every month (“Auto Debit Transaction Date”). 

10.2.11.1 If the 5th day of the month falls on a weekend or public holiday, then the Auto Debit Transaction Date may fall on the next business day. 

10.2.11.2 Users are advised to set up the auto debit plan by the cut off time of every month to enable the auto debit transaction(s) on the Auto Debit Transaction Date, i.e. the 5th day of the immediate subsequent month (or the next business day if it falls on a weekend or public holiday). 

10.2.11.3 Where the auto debit plan is set up after the cut off time of every month, the auto debit transaction(s) will only occur on the following Auto Debit Transaction  Date, i.e. the 5th day of the third month from the auto debit setting up month.

Refer & Earn

10.3 Versa’s Refer & Earn programme is a referral program with Versa (‘Versa Refer & Earn’). Existing users of Versa may participate in the Refer & Earn programme by providing the referral code or link obtained on the Refer & Earn section on Versa Quest page to new user(s) of Versa.  

10.3.1 Where a new user signs up with Versa (‘referee’) using the referral code or referral link of an existing user (‘referrer’) and cash-in a minimum of RM100 in a single transaction into any funds in Versa which is subsequently verified and approved, both referrer and referee will be entitled to RM10 reward under Versa Refer & Earn programme (‘Promotion Reward’). 

10.3.2 The Promotion Reward will be credited in the form of units to the respective fund as invested by the referee, within 30 business days. 

10.3.2 Presently, there is no time limit to Versa Refer & Earn. However, Versa reserves its right under Clause 10.5 below.  

Promo Codes

10.4 Versa’s promo codes are alphanumeric letters which, if utilized in accordance with the terms and conditions herein, allows users to obtain additional rewards and/or benefits upon investing in Versa app (‘Promo codes’). 

10.4.1 Promo codes may be supplied by and/or obtained from:

  1. Versa’s merchants and strategic partners;
  2. Versa’s business partners and affiliates;
  3. Versa’s marketing partners;
  4. Participating merchants; 
  5. Versa’s ambassadors;
  6. Versa’s official merchandise; or
  7. Versa’s official website.

10.4.2 Users have to carry out the following to be eligible for the Promo codes reward:

  1. At Versa’s sign up page, insert the codes in the ‘promo code’ section;
  2. Click ‘proceed’ to subsequently sign up with Versa;
  3. Complete all the prescribed onboarding steps, including the cash-in of the prescribed minimum value (example: cash-in of RM100) in Versa app.

10.4.3 Rewards for the promo code will be credited to the users’ Versa account between 30 to 60 business days from completion of Clause 10.4.2. 

10.5 Versa reserves its absolute right and discretion to vary or amend the specifications of the campaigns, promotions and giveaway at any time (including but not limited to the eligibility criteria, Campaign Period, Campaign Mechanics, Campaign Reward, Rewarding Period, Rewarding Fund, or Eligible Funds). For the avoidance of doubt, Users or any other persons are not entitled to any claim or compensation whatsoever against Versa for any losses or damages (including but not limited to any losses of accrued Campaign Reward) howsoever suffered or incurred as a direct or indirect result of such act of cancellation, shortening, suspension or termination of the campaign(s) and/or promotion(s).

10.6 Where a campaign referred to in this section involves additional investment(s), you acknowledge that you have understood the risks, investment documents, and your investment as well as participation in the Campaign(s) are accompanied with access to all necessary information on the Platform.

10.7 Versa has the right at its sole and absolute discretion to disqualify the said User and/or to decline credit of the campaign, promotion or giveaway reward or where the reward has already been credited, to immediately cancel, withdraw and/or recall the rewards credited to the User where a user commits the following:

10.7.1 is found or suspected to have committed any fraudulent, unlawful, prejudicial and/or wrongful acts in relation to the campaigns, promotions, giveaways or to the financial product(s) by Versa;

10.7.2 has breached any of the terms of this Agreement herein; 

10.7.3 is subject to any bankruptcy proceedings, or has been declared bankrupt, at any point of time prior, during or after the campaign, promotion or giveaway Period. 

10.8 Users hereby agree and undertake to fully indemnify Versa for the value and costs of such units & incentives, damages and/or losses (if any) arising from Clause 10.7 above and Versa shall have the further right to initiate any action it deems necessary against the defaulting Users mentioned herein.

10.9 Should you have any dispute relating to Versa’s promotions/campaigns and/or giveaways which you had participated in, such dispute must be communicated to Versa no later than 30 days from the end date of the campaign period and/or rewarding date (whichever is later). Versa reserves its right to require you to provide proof and evidence relating to your claims.  

10.10 All decisions of Versa on all matters relating to or in connection with campaigns, promotions and giveaways (including but not limited to any dispute arising therefrom) are final, conclusive and binding on the Users. No queries, appeals, disputes, or correspondences will be entertained by Versa.

10.11 In the event of determination by court/tribunal of competent jurisdiction of Versa’s liability to the user arising out of or relating to this section (regardless whether the action or claim is based on contract, tort or otherwise), Versa’s liability shall not exceed the total campaign reward payable to the user under this section during the applicable campaign period. 

10.12 For the avoidance of doubt, the Campaign Reward is not exchangeable with any other forms of credit or benefit-in-kind and is strictly and exclusively rewarded to Users and cannot be redeemed by, assigned or transferred to any third party.

11. SUSPENSION AND TERMINATION OF  SERVICE

11.1 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;

(b) your death or insanity;

(c) any grounds exist for the presentation of a bankruptcy petition against you;

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

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

(f) you are using the Platform or 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 unauthorised uses;

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

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

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

(j) schedule downtime or recurring downtime

(k) a Force majeure event;

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

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

(n) 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 platform;

(o) you create multiple Accounts;

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

(q) 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.

(r)  as and when deemed necessary by our CMSL partner.

11.2 Termination by notice from us. We may at any time and without liability to terminate this Agreement including our Services. In such cases, we will provide you with a written notice in not less than 14 days. However, in certain  cases, we may terminate your Account, the Services or this Agreement by 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.

11.3 Termination by notice from you. You may terminate this Agreement and/or your Account with us at any time by providing us with notice in the may specify on the Platform. 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.

11.4 Effects of termination. On termination of the Account and/or any Services and/or the agreement or relationship between you and us:

  1. you will stop using any services by Versa and we may take such steps necessary to ensure that you cease to use our services;
  2. you shall, upon our request (acting reasonably), return, destroy or delete any information or documents received from us, including any copies thereof.

12. FORCE MAJEURE

12.1 For the purpose of paragraph 11 of this Agreement, we shall not be liable to any person and shall not be deemed to be in breach of these Agreement by reason of any delay in performing or failure to perform any of its obligations under these Terms if the delay or failure was caused by an event of force majeure.

“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.

12.2 Without prejudice to the generality of the foregoing provision, force majeure shall include but not limited to the following:

(a) act of God, including but not limited to fires, explosions, earthquakes, drought, tidal waves and floods, or accident;

(b) war, threat of war, act of terrorism or threat of terrorism, sabotage, insurrection, civil disturbance or requisition;

(c) restrictions imposed by any law, regulations, by-laws, prohibitions or measures of any kind on the part of any government, parliamentary or local authority;

(d) interruption of traffic, strikes, lock-outs, or other industrial actions or trade disputes (whether involving the employees of the e platform r or third party);

(e) breakdown of internet services for any reason whatsoever, save for the willful misconduct of the e-services platform operator;

other unforeseeable circumstances beyond the control of the e-services platform operator against which it would have been unreasonable for the e-services platform operator to take precautions and which the e-services platform operator cannot avoid even by using its best efforts.

12.3 Upon the occurrence of any force majeure event, the performance of the e-platform service operator’s obligations under these Terms and Conditions shall be suspended during that period of force majeure and the e-platform service operator shall be granted an extension of time for performance equal to the period of delay.

13. DISPUTE RESOLUTION AND COMPLAINTS MANAGEMENT

13.1 Any complaint, dispute or controversy raised by you should in the first instance be referred in writing to our Customer support at [email protected]. We will liaise with our CMSL partner and investigate the  complaint and report back to you on the findings and resolution to the complaint or dispute. 

13.2 If you remain dissatisfied with our findings or the handling of your complaint or controversy, you may, if appropriate, refer to the Courts of Malaysia. Where you have a monetary dispute (within the applicable limit) relating to the fund portfolios managed by AHAM, you may refer to the Financial Markets Ombudsman Service (FMOS) [previously known as Dispute Resolution Center (SIDREC)]. 

13.3 Subject to the above paragraph, any dispute arising out of or in connection with this Agreement and/or the documents referred to herein, including any question regarding their existence, validity or termination, shall be referred to and finally resolved by the Courts of Malaysia and both you and we hereby unconditionally and irrevocably submit to the exclusive jurisdiction of the Courts of Malaysia.

14. RISKS DISCLOSURE

14.1 All information, statements and/or descriptions available on the Platform are intended solely for Malaysian residents above 18 years old and any currency references shall be in Ringgit Malaysia unless otherwise specified. Any investment made through the Platform is subject to investment risks, including the possible loss of the principal amount invested. The value of the units and the income from them may fall as well as rise. Past performance figures are not necessarily indicative of future performance of the funds.

14.2 With reference to Clause 9.4 above, the fund portfolios offered on the Platform does not take into account any particular investor’s circumstances. Versa may, in administering the Platform, classify your risk tolerance based on the information provided by you and publish educational articles. At all times, such information shall not be deemed as a form of advice. 

Unit Trust Financing Risk 

14.3 In accordance with our established procedures, you are expected to evaluate the suitability of financing based on your individual objectives, risk tolerance, and financial circumstances. You are urged to be fully aware of the associated risks, which encompass the following:

(a) The margin of financing, representing the amount you borrow in relation to your own deposited funds, can significantly impact potential gains and losses.

(b) It is your responsibility to assess your capacity to meet payment obligations associated with the proposed financing. In the case of variable-rate financing, an increase in returns or interest rates can result in higher overall payment amounts.

(c) Returns on unit trusts are subject to variability and are not guaranteed. This means that some years may yield high returns while others may result in losses. The timing of unit sales can influence whether you experience gains or losses, and unit values may decrease when you seek to withdraw funds, even if the investment has performed well historically.

14.4 This brief statement is an initial disclosure of financing risks. To obtain a comprehensive understanding, it is essential to thoroughly review the complete terms and conditions before making any financing decisions. If any aspect of this risk disclosure or the financing terms raises questions or uncertainties, we recommend seeking guidance from the institution providing the financing facility.

Internet Risk

14.5 While Versa is committed to maintaining a high level of security to ensure the security of the information provided, there are risks beyond our control. Users may be exposed to risks associated with hardware and software failure. Therefore, users should be aware and acknowledge the risks involved when performing any transactions or enquiries online. As a precaution, users should always ensure that the personal computer used is secured and protected from unauthorised access and/or virus that may reveal confidential information to a third party. Users should also be wary of email scams and attachments that may attempt to obtain personal information via illicit means.

Please note that any communication via the website is not via a private or secure link or in an encrypted form and is therefore subject to the usual hazards of Internet communications. Versa cannot guarantee that this communication has not been subject to unauthorised interception or modification.

15. PRIVACY NOTICE

15.1 By using the Platform, you consent to the collection, use, disclosure, share, transfer and storage of your personal data in accordance with Versa’s Privacy Notice, available at https://versa.com.my/privacy-notice/. 

15.2 Any complaint regarding how we handle your personal data may be referred to our data protection officer who can be contacted at [email protected].