Bursa Malaysia may record lower earnings in FY22

Kenanga Investment Bank Bhd has maintained its “market perform” stance on the exchange operator with a lower target price (TP) of RM5.85 per share from RM7.60 previously, dragged by a lower estimated earnings per share (EPS) for FY22 to reflect its expectation of a softening in ADV. “We expect ADV to soften to RM2.39bil in 2022 and RM2.26bil in 2023 on the lack of catalysts on the Mala

KUALA LUMPUR: Bursa Malaysia Bhd is expected to record a lower net profit for this financial year ending Dec 31, 2022 (FY22) on an anticipated softening in the average daily trading value (ADV), according to analysts, Bernama reported.

Kenanga Investment Bank Bhd has maintained its “market perform” stance on the exchange operator with a lower target price (TP) of RM5.85 per share from RM7.60 previously, dragged by a lower estimated earnings per share (EPS) for FY22 to reflect its expectation of a softening in ADV.