PETALING JAYA: RHB Investment Bank Bhd (RHB IB) projected that Bursa Malaysia Bhd could post a robust net profit between RM75 million and RM85 million for the second quarter of 2024 (Q2 2024), underpinned by robust securities and derivatives market performances.
In its research note, the bank also opined that such performances could continue, given expectations of further structural reforms and positive domestic-centric news flow.
Hence, it maintained a “buy” call for the stock exchange with a target price of RM11.25.
“While the share price has risen 44% year to date, we think that continued securities market strength along with the potential announcement of special dividends could provide further uplift,” it said.
RHB IB also assumed that there would be no special dividends at this juncture.
Bursa’s net profit increased by 33.6% to RM75.03 million in Q1 2024 from RM56.17 million in Q1 2023.
At 3.05pm, the stock exchange’s share price eased two sen to RM9.96 with 912,100 shares changing hands.