BURSA MALAYSIA BHD
KLSE (MYR): BURSA (1818)
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8.85
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+0.08 (0.91%)
Day's Change
8.78 - 8.88
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1,037,100
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10 people like this. Showing 50 of 5,393 comments
Bursa to deliver strong 2Q results as trading activity surges — CGS
By Ishra Kamiso / theedgemalaysia.com
19 Jul 2024, 01:17 pm
KUALA LUMPUR (July 19): Bursa Malaysia Bhd (KL:BURSA) may report an 8.2% year-on-year (y-o-y) growth in net profit for the second quarter ended June 30, 2024 (2QFY2024), thanks to robust trading activity in the capital market, CGS International said.
Quarterly net profit will probably come in at RM82.5 million, lifting first-half earnings to RM157.5 million, according to CGS in a results preview note. That would be above market expectations, accounting for 55% of the Bloomberg consensus full-year estimate, it noted.
If the write-back in sales and service tax recorded in 2QFY2023 is excluded, net profit would have been 71% higher in 2QFY2024, CGS flagged. Bursa is scheduled to announce the results by month end.
“Bursa is a key beneficiary of the pickup in trading activity in the capital market,” CGS said. The house raised its target price to RM11.10 from RM8.70, and kept the stock on an ‘add’ call, equivalent to a ‘buy’ recommendation.
The average daily trading value of the equity market more than doubled y-o-y to RM3.62 billion in 2QFY2024. In the derivatives market, the daily average rose nearly 10% to 85,600 contracts.
Income generated from the equity market accounted for 48.4% of Bursa’s 1QFY2024 revenue, while derivatives made up 14.1%.
“In addition, we are encouraged to observe an across-the-board increase in trading activity of all major types of investors in Malaysia’s equity market,” CGS said.
The forecast for 2QFY2024 also took into account 'flattish' other income — including fees for listings, depository services, market data, member services and connectivity, conferences and exhibition-related income — CGS said. All in, The research house raised its FY2024-FY2026 earnings per share forecasts by 17%.
For FY2024, CGS is calling for a net profit of RM303.8 million, or 38 sen per share, above the consensus estimate of 35.9 sen per share.
Shares in Bursa have climbed 43% so far this year, thanks to the surge in trading activity and a slew of initial public offerings, while analysts remain bullish on the stock. A majority of 10 out of 15 research houses covering the counter have a ‘buy’ call, while the rest have ‘hold’ ratings, according to Bloomberg.
The stock has also blown past the consensus 12-month target price of RM9.25, and was trading at RM9.89 at Friday's noon trading break.
2024-07-19 13:52
“Bursa is a key beneficiary of the pickup in trading activity in the capital market,” CGS said. The house raised its target price to RM11.10 from RM8.70, and kept the stock on an ‘add’ call, equivalent to a ‘buy’ recommendation.
2024-07-22 14:51
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2 months ago
WHY need to change logo and squander shareholders money? What's the point? So marketing ppl got job to do? In fact, BURSA should stop listed companies from changing anything like name of companies ( if no change of business ) and logo in order NOT to waste sharholders' monies!
2 months ago
Gov pls ban pasir lori during school holiday!!! Many ppl die oled due to this lori pasir !!
2 months ago
Gov nothing to do, almost every week talking epf ,member not enough money, less than 5k, finished within 5yrs, etc
2 months ago
You see, today epf news again, age 55 not enough money, repeat and repeat by different party!!
1 month ago
if you can easily take out most of your retirement savings before your retirement, you will have little left upon retirement. that is a fact. such savings should not be touched during one's working lifetime if you want it for your retirement. we have to learn to live within our means.
1 month ago
if you need more money, you take on a second parttime job to supplement your income. unfortunately, most malaysians can't do it because such jobs are filled by foreign workers whether legal or illegal. so the problems of unfunded retirement in Malaysia will remain till we make it easier for locals to take on another low skilled level jobs without any stigmas.
1 month ago
Epf same news again.
https://www.straitstimes.com/asia/se-asia/bleak-retirement-looms-for-many-malaysians-with-insufficient-pension-fund-savings
1 month ago
Unexpectedly I got mine below RM9... The huge buyers at RM9 disappeared lol.
1 month ago
Ahli Parlimen really nothing to do repeat and repeat again the same topic for whole year!!!
3 weeks ago
Hi Guys, Be careful!! Epf self contribute increase to 100k!!! ASM increase to Unlimited Fund Size!! What is the purpose behind?
3 weeks ago
Age 35, EpF 2million. I believe it is a fake news to ask people inject money into EPF
3 weeks ago
U don't get the point. 2 millions is because his high income and able to contribute more. Fake news or not I am sure though.
2 weeks ago
Of course RM2 mil is achievable, if one does not draw down for purchase of house, reduce housing loan, education, etc. plus if the company pays high bonuses! Power of compounding!
2 weeks ago
European markets fall as investors look to regional data, Nvidia earnings due this week
5 days ago
Epf news again in Parlimen!!! Xx ppl got buy insurance using EPF. Nothing todo
4 days ago
he already got news inside.. next year cut interest.. because trump confirm will cut. so, all banks gg.
3 days ago
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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Luckily still have 1 lot left of this one costing an average $7.08. Amitabha!!!🙏
2024-07-16 17:25