Bursa Malaysia Raises 2024 Profit Target Range To RM361 Mln-RM379 Mln

KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia Bhd has updated its profit before tax (PBT) target for the financial year 2024 (FY2024), raising it to a range of RM361 million to RM379 million, up from the previous range of RM293 million to RM323 million. 

Chairman Tan Sri Abdul Wahid Omar noted that the exchange continues to attract investment into the capital market and anticipates improved corporate performance for this year compared to 2023. 

“We are seeing strong inflows from both domestic and foreign investors. Given the current performance and expected momentum in the second half (2H) of 2024, we have adjusted our PBT target,” he stated during the 1H 2024 Financial Results Media Briefing today.

The bourse is optimistic about meeting its key performance indicators (KPIs) for the financial year ending Dec 31, 2024.

Abdul Wahid stated that Bursa Malaysia has maintained its target to increase non-trading revenue by five per cent to seven per cent for FY2024.

In addition to other KPIs, Bursa Malaysia aims to stay strong this year with a goal of 42 initial public offerings (IPOs) and a total IPO market capitalisation of RM13.0 billion for 2024.

“We have completed 28 IPOs in the 1H 2024,” he noted.

As of the end of June 2024, the exchange had recorded 21 IPOs -- four on the Main Market, 16 on the ACE Market, and one on the LEAP Market -- yielding a combined IPO market capitalisation of RM7.31 billion, making it the second-highest among ASEAN exchanges.

These accomplishments highlight Bursa Malaysia's attractiveness to businesses seeking capital for expansion and reflect growing investor interest in new opportunities through the exchange, Abdul Wahid added.

-- BERNAMA