Bursa Malaysia posts 17.2% increase in Q3 earnings on better trading and non-trading revenue

PETALING JAYA: Bursa Malaysia Bhd reported a 17.2% rise in net profit to RM51.6 million for the third quarter (Q3) ended September 30, 2017 against RM44.04 million in the same quarter a year ago, underpinned by the increase in both trading and non-trading revenue.
Its revenue was up 9.1% from RM119.4 million to RM130.27 million.
Bursa Malaysia CEO Datuk Seri Tajuddin Atan said the equity market remained buoyant up to the end of Q3, with the benchmark FBM KLCI registering a 6.9% gain in the first nine months of 2017 on the back of overall positive market sentiment and net inflows from foreign investors.
"Increase in listing fee collections from higher and larger Initial Public Offerings (IPOs) and new structured warrants listed, together with processing fees earned from corporate exercises, contributed to the increase in non-trading revenue," he noted.
In Q3, the average daily trading value (ADV) for the securities market's on-market trades (OMT) improved 12.1% to RM2 billion, while average daily contracts (ADC) traded on the derivatives market increased marginally to 56,848 contracts in Q3.
On the Islamic capital market front, the ADV for Bursa Suq Al-Sil (BSAS) soared 34.5% to RM20.4 billion.
Bursa Malaysia said it recorded a significant milestone with the launch of the Leading Entrepreneur Accelerator Platform (LEAP) Market in July to assist small and medium enterprises (SMEs) to raise funds from the capital market for their business expansion.
The LEAP Market went live on October 3 with the successful listing of Cloudaron Group Bhd.
"Bursa Malaysia will continue to create a vibrant and sustainable capital market ecosystem to provide more opportunities for fund-raising and trading activities for all our stakeholders," Tajuddin added.
Bursa Malaysia's nine-month net profit came in at RM167.77 million, 17% higher than the RM143.45 million achieved in the previous corresponding period, with revenue expanding 8.5% from RM383.05 million to RM415.63 million.
Its shares rose 2 sen or 0.2% to close at RM10.02 today, with some 152,700 shares changing hands.