KUALA LUMPUR, July 23 (Bernama) -- RHB Investment Bank Bhd foresees that Bursa Malaysia Bhd could post a robust net profit between RM75 million to RM85 million for the second quarter of 2024 (2Q 2024), underpinned by robust securities and derivatives market performances.
In a research note today, the bank also opined that such performances could continue, given expectations of further structural reforms and positive domestic-centric news flow.
Hence, it maintained a “buy” call for the stock exchange with a target price of RM11.25.
“While the share price has risen 44 per cent year to date, we think that continued securities market strength along with the potential announcement of special dividends could provide further uplift,” it said.
RHB Investment also assumed that there would be no special dividends at this juncture.
Bursa Malaysia’s net profit rose by 33.6 per cent to RM75.03 million in 1Q 2024 from RM56.17 million in 1Q 2023.
At 3.05 pm, the stock exchange’s share price eased two sen to RM9.96 with 912,100 shares changing hands.
-- BERNAMA
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