UOB Kay Hian's top picks are Gamuda, Tenaga, Genting Bhd and Bumi Armada,
KUALA LUMPUR: Bursa Malaysia Bhd
’s net profit rose 13.4% to RM56.62mil in the first quarter ended March 31, 2017 compared with RM49.93mil in the same period last year.
In a filing with the stock exchange Wednesday, Bursa said it registered a revenue of RM142.68mil in the first quarter against RM133.93mil previously. Its earnings per share for the period rose to 10.60 sen per share from 9.30 sen per share in the same quarter last year.
Bursa Malaysia said the securities market operating revenue for 1Q17 stood at RM99.4mil, representing an increase of 11.5% compared to RM89.2mil in 1Q16.
“Trading revenue increased by 17.7% to RM67.2mil in 1Q17 compared to 1Q16. 1Q17 saw a higher average daily trading value (ADV) for on-market trades (OMT) and direct business trades (DBT) of RM2.54bil compared to RM2.07bil in 1Q16,” it said.
The stock exchange operator said the derivatives market recorded a segment profit of RM14.9mil in 1Q17, a decrease of 9.8% from RM16.5mil in 1Q16 as a result of lower operating revenue and higher operating expenses in 1Q17.
It said trading revenue decreased by 5.6% to RM21.2mil in 1Q17 as a result of lower guarantee fees.
Bursa said the securities market saw heightened trading activities in the first three months of 2017, registering strong average daily trading value.
“Total net foreign inflow stood at RM5.7bil as at March 31, 2017. Performance in the securities market is forecasted to continue with the expected improvements in the global as well as domestic economic conditions,” it said.
“In the derivatives market, uncertain weather conditions and volatile crude oil prices continued to underpin trading of FCPO contracts, while FKLI trading is very much correlated to movements in the FBM KLCI,” it added.
Hence, Bursa said activities were expected to be influenced by the need to manage portfolio risk and volatility in commodity prices and the FBM KLCI.
“Bursa Malaysia will continue with its initiatives in creating a vibrant and sustainable Malaysian capital market,” it added.
