Written by Surin Murugiah
Tuesday, 20 April 2010 13:15
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KUALA LUMPUR: BURSA MALAYSIA BHD [], the stock exchange operator, reported an 81% increase in net profit at RM28 million, up from RM15.5 million a year ago mainly due to improved investors' confidence, which resulted in better performance in the securities market.
It said on Tuesday, April 20 revenue for the quarter ended March 31, (1Q10) rose to RM88.12 million from RM64.15 million a year ago, while earnings per share were 5.30 sen versus 2.9 sen.
Reviewing its performance for the quarter, Bursa said equities trading revenue rose 103% to RM39.6 million in 1Q10 from a year ago.
Daily average trading value for on-market trades and direct business trades was higher at RM1.53 billion (1Q09: RM690 million), it said.
Derivatives trading revenue fell 9% to RM8.5 million in 1Q10 from a year ago. Total contracts traded in 1Q10 was 1.41 million compared to 1.38 million traded in 1Q09.
However, revenue from the derivatives trading reduced as a result of lower FKLI trades, which attracts higher trade fee compared to FCPO trades, it said.
Stable revenue increased by 14% to RM25.9 million in 1Q10 compared to 1Q09 primarily due to higher listing fees and additional issue fees as a result of an increase in IPOs, warrants and secondary issues. The increase was also due to the recognition of CDS fees billed to Authorised Depository Agents.
Other operating revenue increased by 19% to RM7.2 million in 1Q10 compared to 1Q09 mainly due to the new processing fee income streams effective August 2009 and higher conference fee income due to the increase in the number of participants and sponsorships for the Palm and Lauric Oil Conference (POC) in 2010.