KUALA LUMPUR: BURSA Malaysia Bhd’s fourth quarter profits ended December 2016 was flat at RM50.16 million compared with RM50.60 million, a year ago, amid a volatile and challenging global economy.
Its fourth quarter operating revenue was down 10.1 per cent to RM112.5 million from RM125.2 million.
Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan said 2016 was an exceptionally challenging year for capital markets all over the world.
He expected market volatility to persist in 2017 and as a result, “the equity market is expected to remain challenging”.
“The Exchange remains cautiously optimistic, however, based on the country’s strong economic fundamentals and resilient banking system.
“These factors, together with our efforts in maintaining a fair and orderly market, will continue to support the growth agenda for the capital market,” Tajuddin said in a media briefing today.
On the whole, Bursa Malaysia’s 2016 earnings fell 2.5 per cent to RM193.62 million from RM198.61 million, posted in 2015.
The stock exchange operator’s 2016 operating revenue had similarly fell 3.1 per cent to RM472.7 million from RM487.7 million.
As for the derivatives market, Tajuddin noted trading revenue added 3 per cent to RM88.7 million in 2016 versus RM86.1 million in 2015.
Some 14.2 million contracts were traded in 2016 compared with 14.1 million contracts in 2015.
Out of the total of 14.2 million contracts, the crude palm oil futures made up the bulk of 11.4 million units.
As earnings per share for 2016 slid to 9.4 sen compared with 9.5 sen in 2015, Bursa Malaysia had proposed a modest and final dividend of 17 sen per share.
“We remain committed to preserving market confidence and integrity. We also plan to provide greater access for small medium enterprises to raise funds in the local market,” Tajuddin said.