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Bursa bullish on profit growth
By Rupinder Singh
Published: 2011/07/20
Kuala Lumpur: Bursa Malaysia Bhd, the country's stock exchange operator, wants to aggressively grow its net profit by at least 20 per cent a year over the next three years.
Last year, the group's net profit was down 36 per cent from RM177.6 million it recorded in 2009, due to a one-off capital gain.
Its chief executive officer, Datuk Tajuddin Atan, said apart from profitability, the company's medium-term target includes boosting trading in the securities and derivatives markets.
"We hope to ensure that our securities' daily average trading value growth is on par with leading listed exchanges in the region, and achieve 50,000 contracts in our derivatives markets by 2013," he said at a media briefing to announce Bursa Malaysia's half-year results.
In increasing its market participation base, one of the initiatives that it had put in place was the allowance for up to 100 proprietary day traders, of which there has been an increase from 36 to 55 currently.
Tajuddin said Bursa Malaysia will also engage domestic and foreign institutional investors to relook this market, given Malaysia's revised positions in two major indices.
"With the dual-licensing programme that allows securities dealer representatives with adequate experience to fast-track into becoming futures broker repre-sentatives, we hope to see an increase in the scope of services and cross-selling by our intermedia-ries, thereby enlarging their client base," he said.
Bursa has laid out a three-year strategic thrust that is aimed at increasing the bourse's competitiveness and market vibrancy.
"Our business direction in the mid-term is to build market competitiveness and drive vibrancy by increasing our investor base, providing greater diversity of products and services, and impro-ving accessibility to our market and investor segments," he said.
Bursa Malaysia recorded its highest half-year profit over the last four years yesterday, with net profit for six months ended June 30 2011 rising by 37 per cent to RM76.2 million from RM55.5 million in the same period last year.
The improved profit was due to the increase in stable revenue co-ming from, among others, new lis-tings
"... we have seen Malaysia's capital markets benefiting from the shift in major funds towards emerging markets," he said.
Meanwhile, Bursa Malaysia's chief regulatory officer, Selvarany Rasiah, said [/the bourse could exceed the 29 initial public offerings (IPOs) recorded last year.
With 17 IPOs so far this year, she said another eight listings are pending.COLOR]
By Rupinder Singh
Published: 2011/07/20
Kuala Lumpur: Bursa Malaysia Bhd, the country's stock exchange operator, wants to aggressively grow its net profit by at least 20 per cent a year over the next three years.
Last year, the group's net profit was down 36 per cent from RM177.6 million it recorded in 2009, due to a one-off capital gain.
Its chief executive officer, Datuk Tajuddin Atan, said apart from profitability, the company's medium-term target includes boosting trading in the securities and derivatives markets.
"We hope to ensure that our securities' daily average trading value growth is on par with leading listed exchanges in the region, and achieve 50,000 contracts in our derivatives markets by 2013," he said at a media briefing to announce Bursa Malaysia's half-year results.
In increasing its market participation base, one of the initiatives that it had put in place was the allowance for up to 100 proprietary day traders, of which there has been an increase from 36 to 55 currently.
Tajuddin said Bursa Malaysia will also engage domestic and foreign institutional investors to relook this market, given Malaysia's revised positions in two major indices.
"With the dual-licensing programme that allows securities dealer representatives with adequate experience to fast-track into becoming futures broker repre-sentatives, we hope to see an increase in the scope of services and cross-selling by our intermedia-ries, thereby enlarging their client base," he said.
Bursa has laid out a three-year strategic thrust that is aimed at increasing the bourse's competitiveness and market vibrancy.
"Our business direction in the mid-term is to build market competitiveness and drive vibrancy by increasing our investor base, providing greater diversity of products and services, and impro-ving accessibility to our market and investor segments," he said.
Bursa Malaysia recorded its highest half-year profit over the last four years yesterday, with net profit for six months ended June 30 2011 rising by 37 per cent to RM76.2 million from RM55.5 million in the same period last year.
The improved profit was due to the increase in stable revenue co-ming from, among others, new lis-tings
"... we have seen Malaysia's capital markets benefiting from the shift in major funds towards emerging markets," he said.
Meanwhile, Bursa Malaysia's chief regulatory officer, Selvarany Rasiah, said [/the bourse could exceed the 29 initial public offerings (IPOs) recorded last year.
With 17 IPOs so far this year, she said another eight listings are pending.COLOR]
