Bursa Malaysia Q2 net profit rises to RM80.44mil, declares 18 sen dividend

KUALA LUMPUR, July 30 (Bernama) — Bursa Malaysia Bhd’s net profit for the second quarter ended June 30, 2024 increased 5.1 per cent to RM80.44 million from RM76.24 million in the same period last year, aided by improved liquidity and market sentiment.

Revenue rose to RM199.94 million from RM144.59 million in the previous year, the company said in a filing today.

For the first half-year ended June 30, 2024 (H1FY24), net profit rose to RM155.47 million from RM132.42 million, while revenue rose to RM387.13 million from RM301.09 million in the previous period.

The increase in profit after tax, zakat and minority interest is attributed to a 29.3 per cent increase in operating income to RM374.5 million in 1H2024 from RM289.6 million in 1H2023.

Bursa Malaysia Chief Executive Tan Sri Abdul Wahid Omar said Bursa Malaysia’s strong performance in the first half of 2024 was driven by improved liquidity and market sentiment amid increased optimism about Malaysia’s economic progress and future prospects.

“Given that economic conditions in Malaysia will remain favourable, we are optimistic that the good results will be reflected in the stock market performance in the second half of the year,” he said in a statement.

Bursa Malaysia CEO Datuk Muhamad Umar Swift said despite ongoing external macroeconomic headwinds, the Malaysian capital market recorded a solid performance in the first half of 2024, hitting several record highs.

“Given the current economic situation and improving market sentiment, we are optimistic that this positive dynamics will continue.

“We are committed to enhancing the attractiveness of Bursa Malaysia to create value for our stakeholders while driving economic growth,” he said.

Bursa Malaysia said strong trading activity in the securities market in the first half of 2024 was supported by a strong economic outlook supported by foreign direct investment inflows, expectations of improving corporate earnings and domestic liquidity.

“Ongoing local and global events such as monetary policy changes in advanced economies, China’s economic recovery, geopolitical tensions in the Middle East, the US presidential election outcome and the performance of the ringgit will continue to impact equity market volatility.

“Interest in conducting an initial public offering (IPO) remains high, and the exchange expects the IPO momentum to continue into the second half of 2024,” the company said in a filing.

The exchange said it will continue its outreach activities and broaden investor participation through initiatives such as the Bursa Marketplace, Invest Malaysia Series and process digitisation to ensure easy access to investment opportunities for retail investors.

The firm said its derivatives trading and hedging activities continued to be impacted by the volatility of underlying commodity and equity market prices.

The projected increase in crude palm oil production and active trading activity on the stock market should have a positive impact on the market, the release said.

As for Islamic markets, the exchange said it will continue to focus on introducing new value-added features to the Bursa Gold Dinar app, as well as digital marketing activities to increase its investor base.

Bursa Suq Al-Sila’ (BSAS) trading activity is expected to continue to be dependent on liquidity in the Islamic interbank money market.

“In the meantime, the exchange will continue to develop a broader range of innovative Shariah-compliant products and solutions, including Islamic social finance offerings that address the needs of ethical and socially responsible investors, such as ETFs with a prominent waqf feature.”

Bursa Malaysia is optimistic about achieving its key performance indicators for the financial year ending 31 December 2024 (FY2024).

“The board of directors has therefore declared a higher interim dividend of 18 sen per share for fiscal year 2024. This amounts to approximately RM145.7 million, representing a dividend payout ratio of 93.7 per cent,” it added.

— BERNAMA

---

BERNAMA provides up-to-date, reliable and comprehensive news and information which is distributed through BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching).

Follow us on social media:
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter: @bernama.com, @BernamaTV, @bernamaradio
Instagram: @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TIK Tok : @bernamaofficial