After Bursa 1st quarter ends 3/31 rising by 13.4% year-on-year to RM56.6million. #Raise operation!

Malaysia: Bursa Malaysia Bhd saw its net profit for the first quarter ended March 31 rising by 13.4% year-on-year to RM56.6mil due to higher trading revenue.

The stock exchange operator said in its financial statements that trading revenue rose by 17.7% to RM67.2mil in the first quarter compared to the same quarter in the previous year.

Bursa Malaysia noted that the quarter saw a higher average daily trading value for on-market trades and direct business trades of RM2.54bil compared with RM2.07bil in the same quarter of the previous year.

"The first quarter results registered growth supported by strong performance in the securities market where we saw heightened trading activities with strong participation from retail and domestic institution segments,” CEO Datuk Seri Tajuddin Atan said in a statement.

"We recorded a daily average trading value for securities market’s on-market trades of RM5bil on March 17. We also saw foreign funds returning to the market, with a net inflow for the quarter of RM5.7bil,” he added.

The quarter also saw average daily contracts for the derivatives market growing by 7.3% to 62,076 contracts, driven largely by an increase in trading activities of the crude palm oil futures contracts.

The company said its annualised return on equity remained stable at 26% while its cost-to-income ratio improved by 2 percentage points to 45% for the period under review compared to 47% recorded in the first quarter of 2016.

Tajuddin said Bursa would continue to create a vibrant and sustainable capital market.

"The focus will be on improving the market ecosystem to provide more opportunities for fund-raising and trading activities, and also on improving investor experience via more engagement activities and connectivity to the exchange. Efforts will also be intensified in developing new products and services, in line with our aim to diversify reliance on trading income,"

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