KUALA LUMPUR: Bursa Malaysia posted a net profit of RM60.41 million in the third quarter (Q3) ended September 30, 2023 (FY23), up 20.5 per cent year-on-year (YoY) from RM50.13 million in FY22, supported by higher profit registered by securities market.
Total segment profits for the quarter were RM107.2 million, an increase of 13.7 per cent compared to RM94.3 million in Q3 FY22.
The securities market recorded a segment profit of RM82.6 million in the quarter, an increase of 24.4 per cent compared to RM66.4 million in the same period last year, mainly due to higher operating revenue in Q3 FY23.
Revenue for the quarter rose 13.1 per cent YoY to RM158.71 million versus RM140.36 million a year ago.
The securities market's operating revenue for the quarter rose 16.9 per cent to RM104.0 million compared to RM89.0 million last year.
Trading revenue was up by 26.2 per cent to RM70.4 million in Q3 FY23 from RM55.8 million in Q3 FY22, mainly due to higher average daily trading value (ADV) for on-market trades (OMT) and direct business trades (DBT), which increased by 28.0 per cent to RM2.24 billion in the quarter from RM1.75 billion in Q3 FY22.
Trading velocity was higher by six percentage points at 30 per cent compared to 24 per cent in Q3 2022.
For the cumulative nine-month period, Bursa Malaysia posted a net profit of RM192.83 million, up 8.6 per cent from RM177.57 last year due to lower operating expenses, which decreased by 2.4 per cent to RM209.6 million in the period from RM214.7 million a year ago due to a one-off reversal of provision.
Revenue rose to RM459.8 million from RM457.54 million a year earlier.
For the period, the securities market registered a 3.3 per cent drop in trading revenue, totalling RM196.4 million in the nine months compared to RM203.0 million in 9M22.
This decline was due to lower ADV for OMT and DBT, which stood at RM2.1 billion compared to RM2.2 billion a year prior.
Additionally, listing and issuer services decreased by 8.3 per cent to RM47 million from RM51.3 million due to lower perusal and processing fees, as well as additional listing fees resulting from a decrease in the number of corporate exercises.
Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said the bourse anticipated meeting most of its headline key performance indicators for the financial year ending 2023.
"The successful launches of the Bursa Carbon Exchange (BCX) trading platform and Malaysia's Voluntary Carbon Market Handbook in September and October of this year, respectively, exemplify our commitment to facilitate the country's transition towards a lower carbon economy.
"We stand committed to supporting Malaysian businesses in achieving net zero emissions through carbon credits and upcoming product offerings such as Renewable Energy Certificates (REC) in the voluntary carbon market space," added Datuk Umar.
He added that Bursa Malaysia is also encouraged by the policies and key thrusts announced under the Madani economy framework, including the National Energy Transition Roadmap and the New Industrial Master Plan 2030, to help drive Malaysia's growth and competitiveness.
"Effective implementation of these policies, alongside the separately announced short-term and medium-term measures to boost the capital market, should stimulate market attractiveness and activity," he added.