Operating revenue boost for Bursa
Stock exchange operator’s net profit up 12.62% to RM63.78mil in first quarter
PETALING JAYA: Bursa Malaysia Bhd posted a 12.62% rise in net profit to RM63.78mil for the first quarter ended March 31 on the back of the highest-ever quarterly operating revenue since listing in 2005.
Chief executive officer Datuk Seri Tajuddin Atan said the stock exchange operator started the year on a firm footing, recording its highest-ever quarterly operating revenue,whichgrew7.5%toRM144.8mil since listing.
“Our strategic initiatives continue to show progress, which is reflected by the continued growth in our capital market.
“The first quarter of the year has seen average daily trading value for securities market’s on-market trades continue to grow, reaching RM2.7bil in the first quarter,” he said in a statement.
He said Bursa Malaysia also saw the listing of MYETF-US50, the first foreign currency securities listing, establishing the exchange as a multi-asset and multi-currency exchange.
“Moving forward, we will endeavour to achieve further positive trend of growth by continuing with our market development and marketing efforts,” Tajuddin said.
Revenue gained 5.62% to RM150.71mil for the quarter under review while basic earnings per share was 7.90 sen compared with seven sen in the previous corresponding quarter.
Trading revenue for the securities market grew by 13.5% to RM76.3mil, driven by higher average daily trading value, which rose 14.2%.
Non-trading revenue increased by 7.9% to RM45.6mil, contributed by higher listing and issuer services fees as well as depository services fees.
The derivatives market trading revenue declined by 10.5% to RM19mil due to lower number of derivatives contracts traded.
Average daily contracts for derivatives market was at 54,020 compared with 62,076 in the same quarter a year ago, representing a 13% drop.
The Islamic capital market Bursa Suq Al-Sila’ trading revenue increased marginally by 0.1% to RM4mil mainly due to the volume-based pricing introduced in December 2016. The average daily trading volume grew by 30.2% to RM22.6bil, contributed by higher trades from both domestic and foreign participants.
Tajuddin said the stock exchange operator would contin- ue to maintain positive momentum by seeing through the implementation of initiatives that further enhance and expand the market ecosystem.
“The measures announced by the Government earlier this year to liberalise and boost our capital market is an opportunity that further complements our areas of focus.
“It provides us the impetus to continue delivering on our promise to develop a sustainable marketplace and enhance the breadth and depth of the ecosystem,” he said.
Bursa closed three sen lower at RM7.21 with 403,000 shares traded.