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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.

2 months ago

Boyour

EV still not reliable here..look at at the resale value of EV now...scary lol,,in 3 years ll be in scrap yard

2 months ago

yeinemesis

https://theedgemalaysia.com/node/719790
Petronas may lose part of revenue to Petros, capex may be hit — RHB IB

2 months ago

dompeilee

In this type of mkt can still stand above $17.30! Cool! Another BIG FAIL by James_BOMB!🤣

2 months ago

yeinemesis

Relying on EPF to pump in fund for support. Cant imagine price without EPF. Composite index need to show market still good.

2 months ago

Maxpowar

True, stock price heavily supported by local institutions. Otherwise, it would've been worse. Keeping at the side line for now as we do not know how much of impact will the removal of diesel subsidy and surrendering of gas business to Borneo affect PetDag's profit in coming quarters.

2 months ago

speakup

https://focusmalaysia.my/bds-malaysia-stop-filling-up-at-caltex-as-its-parent-company-chevron-fuels-palestinian-genocide/

2 months ago

kong73

Gents - PETRONAS is doing great - all their stations i see are always packed!

2 months ago

speakup

Ya ke? Why petronas near my office tutup?

2 months ago

kong73

Another increase today. Congratulation those who bought sub 17 last week

5 days ago

kong73

Epf continue to accumulate last week too.. preparing to zoom PETRONAS.

2 months ago

EngineeringProfit

I got collect sub 17

2 months ago

dompeilee

$17.70+!🤗

2 months ago

kong73

17.70 is still attractive right to buy

2 months ago

yeinemesis

US market up & down with uncertainty. Our market also affected and affecting further those related to Diesel rationalization. EPF pump in fund to help counter price, while those who were earlier stuck with the price fall from RM20+ to RM17 now taking advantage to sell and exit counter.

2 months ago

dompeilee

$18!!! Back above sister PetGas price! Of course, likely due to SHORT-covering from ppl like James_BOMB in the morning...but still nice to see...👍👍👍

1 month ago

calvintaneng

DUMBPEILEI SEE

Posted by dompeilee > 2016-10-25 11:59 | Report Abuse

Very strong...1.11 absorbing sellers well & increasing Q...accumulation phase :D



Posted by hng33 > 2016-10-25 12:03 | Report Abuse

Resistance level become support level now :)



Posted by chrisyap > 2016-10-25 12:05 | Report Abuse

Explode ! Explode !



Posted by dompeilee > 2016-10-25 12:09 | Report Abuse

Volume building up at triple one....472,600 shares!

DUMBPEILLLLEI BOUGHT WTK AT RM1.11
TRAPPED FOR 8 YEARS!!

1 month ago

dompeilee

PetDag soooo sooooooon after re-purchase already SOLIDly profitable on paper???🍾🥂🍸Thanks for the gift on reaching a THOUSAND consecutive market days of profit, a lifetime mega achievement!!!🤗

1 month ago

yeinemesis

EPF pumping. Is Ron95 subsidy rationalization coming soon?

1 month ago

dompeilee

Some short-SQUEEZing going on...25k short sold @ $18.104 showing a big loss...keep going UPPPP!🤗😘😉

1 month ago

EngineeringProfit

Kenyang

1 month ago

moneyontheway

i am still hungry
how high can it go?

1 month ago

EngineeringProfit

You got good appetite

1 month ago

moneyontheway

need at least two rounds

1 month ago

dompeilee

James_Bond

Sold all my PetDag shares! Thanks!

1 month ago

James_DUMB_BOMB, sudah lariiii ke mana?😆🤣😂 All his clients should LARIIIIiiiii from him & his unprofitable mkt moves!🏃🏃🏃 Serves him right!!!

1 month ago

yeinemesis

EPF must continue pumping in fund to ensure Petronas remain strong in composite index. Previous RM16 range is not good for market capitalization. Otherwise other strong counters in the main board are trying to enter composite index lists.

1 month ago

moneyontheway

where can i see EPF pumping?

1 month ago

dompeilee

🎶🎵Don't cry for me Argentinaaaaaa!🎶🎵🎼 SOLD 68% of my position not far from the day's high!🤗

1 month ago

EngineeringProfit

Yup, wait to go in for another round

Posted by moneyontheway

need at least two rounds

1 month ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Announced a good quarter.
This company is in a matured sector.
Its revenues and earnings have been flat for many years.
However, it is generating good FCFs and dividends.
The 1H results for this year had been better than previous years.
Probably can expect higher revenues, earnings and slight increase in dividend for this year.

1 month ago

James Ng

[转贴] [Video:浅谈PETRONAS DAGANGAN BERHAD, PETDAG, 5681] - James的股票投资James Share Investing
https://klse.i3investor.com/web/blog/detail/general/2024-08-21-story-h-153412673

1 month ago

Nguy?n Bá Chinh

thanks all

1 month ago

Needluck

RSI over 70, overbought currently.

1 month ago

bullrun168

Walaoeh, what happend ?
Super damn hot man Petdag today !
Now Petdag was traded at @RM21.18 (+0.28) (+1.34 %)
Heng ah, Ong ah, Huat ah !

1 month ago

Whythefuss

Who is laughing now. 20% upside , good profit. Funny to see posts from 1 month back, so many Sifus with negative stories, adults behaving like small kids on Stock market…

1 month ago

moneyontheway

@whythefuss, do you think this stock will drop below RM20 after the implementataion
of the RON95 rationalization? please give some suggestion and ideal advice.

1 month ago

EngineeringProfit

Luckily my all eggs in one winning basket here..........huat ar

1 month ago

moneyontheway

did you sell any shares in this counter?

1 month ago

Whythefuss

@moneyontheway what May happen in future I don’t know. I bought this stock in the past based on the dip knowing it may reach near its former 52week range. Disposing for a 20% upside is worth it. As I’m not a long term investor on one single stock, I could not offer any long term advise on pet dagang

1 month ago

moneyontheway

@whythefuss, how many lots do you own for this counter and how much do you intend to sell? besides this counter, what other stocks do you own for safe keeping?

1 month ago

moneyontheway

@whythefuss, why is it keep on dropping????

2 weeks ago

Needluck

drop to 17 again then hard liao this counter

2 weeks ago

moneyontheway

@needluck, what is the reason for its dropping everyday?/

2 weeks ago

Needluck

chart looks like head & shoulder, maybe more downside, careful o...

6 days ago

moneyontheway

hardly it can rise up.

5 days ago

Needluck

really head & shoulder?

3 days ago

moneyontheway

@needluck, what is head & shoulder? when will it rise above RM20? Have you sold your shares in petdag?

3 days ago

Needluck

head & shoulder, drop. thanks to EPF

3 days ago

moneyontheway

why thanks to EPF? do you still maintain a lot of shares in this counter?

3 days ago

dompeilee

Below the average cost for my most recent re-purchase 2 months back ! Wait for $17 again!!!🤗

3 days ago