“Revenue rose 38.28% to RM199.94 million from RM144.59 million previously,” it said in a filing to the exchange today.
For the first half year ended June 30, 2024, (H1 2024), net profit rose 17.4% to RM155.47 million from RM132.42 million, while revenue improved 28.5% to RM387.13 million from RM301.09 million previously.
The increase in profit after tax, zakat and minority interest is attributed to a 29.3% rise in operating revenue to RM374.5 million in H1 2024 from RM289.6 million in H1 2023.
Bursa chairman Abdul Wahid Omar said in a statement that the exchange’s strong performance in H1 2024 was due to improved liquidity and market sentiments on the back of increased optimism in Malaysia’s economic progress and plans.
“With Malaysia’s economic conditions anticipated to remain favourable, we are optimistic that strong results will be reflected in the exchange’s performance for the second half of the year (H2 2024),” he said.
Meanwhile, Bursa CEO Umar Swift said that notwithstanding the ongoing external macroeconomic headwinds, Malaysia’s capital market witnessed a strong performance in H1 2024, marked by several record highs.
“Based on the current economic conditions and improved market sentiment, we are optimistic that this positive momentum can be sustained.
“We are committed to enhancing Bursa’s appeal to create value for our stakeholders while driving economic growth,” he said.
Bursa said that the robust trading activities in the securities market in H1 2024 were supported by a strong economic outlook backed by an influx of foreign direct investments, the expectation of improved corporate earnings performance, and domestic liquidity.
“The ongoing local and global developments such as the monetary policy shifts in advanced economies, China’s economic recovery, geopolitical tensions in the Middle East, the US Presidential election outcome, and the performance of the ringgit will continue to influence the volatility of the equity market.
“Interests to undertake initial public offering (IPO) remain healthy and the exchange expects the IPO momentum to sustain in H2 2024,” it said in the filing.
Bursa said the derivatives market’s trading and hedging activities continue to be influenced by the volatility in the underlying commodity prices and equity market.
“The forecast increase in crude palm oil production and active trading activities in the equity market is expected to have a positive impact on the market,” it said.
As for the Islamic markets, the exchange said that it will focus on introducing new value-added features in the Bursa Gold Dinar app and digital marketing efforts to increase the investor base.
Bursa is optimistic about meeting its headline key performance indicators for the financial year ending December 31, 2024 (FY2024).
“The board of directors has accordingly declared a higher interim dividend of 18 sen per share for FY2024.
“This amounts to approximately RM145.7 million, representing a dividend payout ratio of 93.7%,” it added.