KUALA LUMPUR: Bursa Malaysia second quarter profits ended June 2017, went up 20.3 per cent to RM59.5 million from RM49.5 million previously, thanks to higher domestic trades.
Similarly its quarterly revenue amounted to RM142.7 million, 10 per cent more than RM129.7 million, posted a year ago.
In a media conference today, Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan said the stock exchange saw strong performance in the first half of the year and this was due to increased trading activities across all segments.
“We are seeing renewed interest, especially from foreign funds who, I am pleased to note, are continuing to return to Malaysia’s capital market since the start of the year,” he said.
“In the derivatives market, we hope improved oil palm fruit harvest and volatility in the FBM KLCI will continue to underpin trading and hedging of FCPO and FKLI contracts,” he said.
In view of favourable results, he said the board had approved interim and special dividend of 20 sen a share and 15, payable on 10th and 23rd August 2017.
Asked on outlook for the second half of the year, Tajuddin said he expects continue momentum of foreign inflows to Malaysian assets, buoyed by recovery in developed markets and domestic economic conditions.
Tajuddin went on to say in the first half of 2017, Bursa Malaysia saw eight initial public offerings (IPOs) that raised RM3.5 billion, outperforming just five listing which raised RM400 million, in the same six months a year ago.
“Up until now, we’ve had 10 IPOs. By the end of the year, we estimate this number to reach somewhere in the mid-teens,” he said.
Yesterday, Prime Minister Datuk Seri Najib Razak launched Bursa Malaysia’s third market named the Leading Entrepreneur Accelerator Platform (LEAP) market, a platform where wealthy investors can participate in the growth of small and medium enterprises.
Companies seeking to list on the LEAP market do not need to submit quarterly financial reports and annual reports. They are only required to come out with semi-annual financial reports and annual audited accounts.
Wealthy investors are corporates with more than RM10 million in net assets or individuals who have more than RM3 million in assets or an annual income exceeding RM300,000, or a husband and wife with a combined annual income exceeding RM400,000.
When asked to estimate the first listing on the LEAP market, Tajuddin replied, “We hope to see this materialise by year-end.”