KUALA LUMPUR: Bursa Malaysia Bhd
is cautiously optimistic of meeting its headline key performance indicators for the year amid positive trading momentum in the first quarter ended March 31, 2024.
For the quarter under review, Bursa Malaysia registered net profit of RM75.03mil, up from RM56.17mil in 1QFY23, which translates to an earnings per share of 9.3 sen against 6.9 sen previously.
The stock exchange operator posted revenue of RM187.2mil in 1QFY24, up from RM156.5mil in the previous corresponding quarter.
The growth in the average daily trading value (ADV) of securities made a substantially higher contribution to Bursa Malaysia's operating revenue in the first quarter ended March 31, 2024 (1QFY24).
In a statement, it said the ADV for its securities market's on-market trade surged 36.9% to RM2.9bil, from RM2.1bil in the same quarter in 2023.
The securities market's operating revenue rose 23% to RM123.1mil in 1Q24.
According to the Exchange, the trading velocity also rose eight percentage points to 39% in 1Q24.
Listing and issuer services grew 8.9% to RM16.3mil in 1Q2024 from RM15mil in 1Q2023, while depository services witnessed an 18.3% increase to RM15.5mil in 1Q2024 from RM13.1mil in 1Q2023.
In the derivatives market, operating revenue rose by 12.7% to RM31.8mil from RM28.3mil in 1Q23, driven primarily by the rise in average daily contracts
(ADC) in both crude palm oil futures (FCPO) and FTSE Bursa Malaysia KLCI Futures (FKLI).
On the Islamic market front, operating revenue remained stable at RM4.5mil, while the data business segment demonstrated significant growth, with operating revenue increasing 21.9% to RM19mil.
Bursa Malaysia CEO Datuk Umar Swift said although the key economic indicators are pointing towards a brighter outlook for the Malaysian economy, the ongoing global and local developments will continue to influence the volatility and performance of the securities and derivatives markets.
"We have been working closely with other regulators to ensure market efficiency and improved market accessibility and liquidity to support participants during this period," he said.
