October 19, 2009

Bursa Q3 net profit jumps

STOCK exchange operator Bursa Malaysia Bhd (1818) reported a 52 per cent jump in its third quarter net profit, driven by buoyant trading activities.

Net profit in the three months to September 30 2009 reached RM30.8 million, while revenue rose 17 per cent to RM86.3 million.

The positive results were driven by a buoyant securities market and steady interest in its key derivatives products, namely the crude palm oil futures contracts, Bursa chief executive officer Datuk Yusli Mohamed Yusoff said.

"While the outlook continues to be challenging, we are optimistic that the exchange's performance for the final quarter will remain positive, judging from the improved investor interest," Yusli said in a statement on Friday.
However, net profit for the nine-month period was 11 per cent lower at RM81.3 million compared with a year ago.

Yusli also said the company is on track in launching key initiatives, such as the multi-currency securities platform, transition of its benchmark KLCI index to FTSE's methodology, market-making framework for structured warrants and exchange traded funds (ETFs), and the reduction of tick size. These efforts are aimed to help spur interest in the market.

In the latest quarter, daily average trading value for the securities market (on-market and direct business) increased to RM1.38 billion, from RM890 million in the same time last year.

Fund Price

About Me

My photo
Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;

music


MusicPlaylistRingtones
Create a playlist at MixPod.com

Followers